Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) US and Iranian negotiators are exploring a phased deal that would see Tehran reopen the Strait of Hormuz and Washington lift its blockade of Iranian ports, according to a person familiar with the discussions.

(2) NATO Secretary General Mark Rutte said a shortage of oil refining capacity in Europe could leave the continent exposed in the event of a war.

(3) As yields on US Treasuries soar past one high after the next, a reality is sinking in deeper across Wall Street and Washington: More than merely a bond-market slump, this might just be a fundamental shift.

(4) France’s far-right leader Marine Le Pen indicated she may refrain from trying to topple the government over the 2027 budget to avoid a bond market crisis and to give her more leeway to make tax and spending changes if she’s elected president in May.

(5) Luminaries from Wall Street and Silicon Valley joined President Donald Trump for a state dinner honoring his Chinese counterpart Xi Jinping, in a demonstration of US technological and financial might.

(6) Some billionaires with UK tax obligations are pushing back against sweeping requests for information from local authorities seeking to map out their wealth and financial structures.

(7) From Italy to Japan to Brazil, officials are experimenting with novel ways to entice plumbers and mechanics and teachers to buy bonds. In Romania today, a retail investor program, which includes better bond yields for blood donors, provides close to a fifth of the government’s entire borrowing needs.

Podcast Conversation: Workplace War Over Iced Lattes Isn't About Coffee

Your morning briefing. All the news you need to start your day. On today's podcast: (1) US and Iranian negotiators are exploring a phased deal that would see Tehran reopen the Strait of Hormuz and Washington lift its blockade of Iranian ports, according to a person familiar with the discussions. (2) NATO Secretary General Mark Rutte said a shortage of oil refining capacity in Europe could leave the continent exposed in the event of a war. (3) As yields on US Treasuries soar past one high after the next, a reality is sinking in deeper across Wall Street and Washington: More than merely a bond-market slump, this might just be a fundamental shift. (4) France&rsquo;s far-right leader Marine Le Pen indicated she may refrain from trying to topple the government over the 2027 budget to avoid a bond market crisis and to give her more leeway to make tax and spending changes if she&rsquo;s elected president in May. (5) Luminaries from Wall Street and Silicon Valley joined President Donald Trump for a state dinner honoring his Chinese counterpart Xi Jinping, in a demonstration of US technological and financial might. (6) Some billionaires with UK tax obligations are pushing back against sweeping requests for information from local authorities seeking to map out their wealth and financial structures. (7) From Italy to Japan to Brazil, officials are experimenting with novel ways to entice plumbers and mechanics and teachers to buy bonds. In Romania today, a retail investor program, which includes better bond yields for blood donors, provides close to a fifth of the government&rsquo;s entire borrowing needs. Podcast Conversation: <a href="https://www.bloomberg.com/opinion/articles/2026-09-24/iced-coffee-at-job-interviews-reveals-deeper-workplace-power-struggles?sref=AuZ8DRMf">Workplace War Over Iced Lattes Isn't About Coffee</a>

Bloomberg Daybreak Europe is the daily morning podcast that helps you understand the stories shaping Europe and the world before the day gets going.

Produced in the early hours each weekday, the show delivers fresh reporting, sharp analysis and clear context on politics, business and global markets by 7am London time. From decisions made in Brussels and London to developments across the global economy, Daybreak Europe connects the dots between power, policy and money.

Hosted by Stephen Carroll in Brussels and Caroline Hepker in London, and powered by Bloomberg’s global network of more than 3,000 journalists and analysts, the podcast goes beyond headlines to explain what is changing, why it matters and what could come next.

Trusted by professionals, business leaders and investors, but made for anyone curious about how economics and politics shape everyday life, Bloomberg Daybreak Europe is the essential way to start your morning informed and ahead.

Bloomberg Daybreak Europe is the daily morning podcast that helps you understand the stories shaping Europe and the world before the day gets going.
Produced in the early hours each weekday, the show delivers fresh reporting, sharp analysis and clear context on politics, business and global markets by 7am London time. From decisions made in Brussels and London to developments across the global economy, Daybreak Europe connects the dots between power, policy and money.
Hosted by Stephen Carroll in Brussels and Caroline Hepker in London, and powered by Bloomberg&rsquo;s global network of more than 3,000 journalists and analysts, the podcast goes beyond headlines to explain what is changing, why it matters and what could come next.
Trusted by professionals, business leaders and investors, but made for anyone curious about how economics and politics shape everyday life, Bloomberg Daybreak Europe&nbsp;is the essential way to start your morning informed and ahead.

Bloomberg Daybreak: Europe Edition

Iran's 7-Day Offer, NATO's Europe Fuel Fears, Blood For Bond Yields

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/afdf7323-5802-4f3c-b776-b4d0005f4e01/transcript