Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Japan’s government bond yields reached their highest levels in more than a decade and yields in Australia and New Zealand also surged as the rout in German bunds reverberated through global debt markets.

(2) The European Central Bank is about to lower interest rates for the sixth time since June, though a volatile economic backdrop is sowing divisions over where to take borrowing costs from here.

(3) President Emmanuel Macron said he’ll enter into talks on using France’s nuclear capabilities to defend European allies.

(4) Financial markets are signaling that the risk of a recession is growing as tariff-related uncertainty and indicators of economic weakness spread fear across Wall Street.

 
(5) Bank of England Governor Andrew Bailey says US President Donald Trump’s tariff war poses a large risk to the world economy and will not fix the trade imbalances he hopes to address.

(6) President Donald Trump is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, the White House said Wednesday, as a temporary reprieve following pleas from industry leaders.

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