FIVE MINUTE DAILY

Bond markets are sending Washington a warning as 30-year yields reach levels unseen since 2007, while ABC challenges the FCC and Trump moves to reopen millions of forest acres to logging. Also ahead: a Navy readiness problem, Granada’s earthquake and the hidden radiation risk facing flight crews.

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The 30-year U.S. Treasury yield climbed to its highest level since 2007 on Tuesday, and government bonds across Europe and Asia sold off right along with it. Investors are pricing in stickier inflation, swelling deficits, and the flood of A.I.-related capital spending all at once. Equities felt it. Mortgage rates ticked up for a fourth straight session.

Long-dated debt is the market's referendum on fiscal discipline. The verdict, right now, isn't kind. Higher yields make it more expensive for Washington to borrow, for companies to invest, and for households to buy anything on credit — which squeezes the very growth story the A.I. bulls are counting on.

ABC filed suit against the Trump administration's FCC on Tuesday, asking a federal court to block the agency from taking steps that could push the network's stations off the air. The complaint accuses the FCC of trampling ABC's First Amendment rights in how it's handling the license review.

It's a rare posture — a major broadcaster hauling its own regulator into court. Whatever the judge decides will set the outer limit on how far the FCC can go in scrutinizing news programming before it hits a constitutional wall.

The Trump administration began the process of repealing the "roadless rule", the 2001 regulation that kept nearly 45 million acres of backcountry national forest off-limits to road-building and commercial timber. The repeal would open some of the most pristine public land in the country to loggers.

Supporters say it hands the Forest Service better tools to thin overgrown stands and cut wildfire risk. Opponents say roads fragment habitat, muddy watersheds, and turn a quarter century of conservation policy into stumps.

Three people were injured on Tuesday afternoon when an earthquake rocked Granada, leaving damage across buildings and parked cars in the historic Spanish city. Officials closed the Alhambra palace as a precaution, pulling the shutters on Spain's most visited monument at the height of tourist season.

At least 30 miners were killed when a gold mine collapsed at an artisanal site in the west of the Central African Republic, authorities said late Tuesday. Pits like this one are dug by hand with almost no shoring, and the deaths they cause rarely reach any official safety register.

Authorities in the West African country confirmed on Tuesday that Liberia will accept deportees from the United States — as many as 1,200 of them. Washington has spent this year signing versions of the same arrangement across the continent, turning deportation capacity into a live bargaining chip in bilateral talks.

The IRS issued guidance clarifying who qualifies for the new "no tax on overtime" deduction and how much workers can claim on their 2026 returns. It should simplify filing for millions of hourly employees who weren't sure whether their premium pay counted.

A Massachusetts courtroom heard on Tuesday that Clancy begged for help in the weeks before her three children were killed, her mother-in-law testifying to the family's alarm. Defence lawyers are building the case entirely on postpartum psychosis, which makes testimony from inside the family the most consequential evidence in the room.

Honolulu lawmakers are weighing fines and jail for homeless residents found in possession of shopping carts, under a proposal that surfaced Tuesday. Critics point out that the city is proposing to criminalise the one container available to people who have nowhere else to put anything.

Apple rewrote its European App Store fee structure on Tuesday in a bid to end its long-running clash with EU regulators over the Digital Markets Act. Apple says the new terms "resolve" the payments dispute — developers will decide once they've read the fine print.

In a statement on Tuesday, Cinemark endorsed the merger of Paramount Skydance and Warner Bros. Discovery, becoming the third major US theatre chain to back the $111 billion combination. AMC and Regal got there first, and all three are now openly pressing regulators for what Cinemark called an expedited resolution.

The IRS rewrote its overtime guidance on Tuesday, spelling out which hours actually qualify for the new deduction after a filing season full of confused returns. Workers claiming it for 2026 finally have firm rules on employer reporting, though the terms and conditions still run several miles past the bumper sticker.

A study out Tuesday found that pilots and flight attendants face a higher risk of dying from radiation-linked cancers than people who handle radioactive material for a living. Cosmic radiation at cruising altitude accumulates across tens of thousands of flight hours, and no cabin or cockpit shielding meaningfully blunts the dose.

Under a plan floated this week, the NIH would scrap numerical grant scores in favour of three plain buckets: most competitive, competitive, and not discussed. Roughly five decades of precise percentile rankings would end, after analysis found that top-scoring funded papers get cited at almost the same rate as ones from the 20th percentile.

Researchers say wearable exoskeletons are edging toward everyday use, with University of Michigan devices now supplying 25% to 30% of the force a biological joint generates on its own. Heidelberg researchers cut the metabolic cost of level walking by 10% in older adults, a margin that starts to matter when 2.1 billion people will be over 60 by 2050.

Hours after collapsing during a Bayern Munich friendly, Musiala revealed a diagnosis of brief absence seizures on Tuesday — his second collapse in four days. Bayern's 23-year-old says doctors traced them to a treatable neurological dysfunction and found no long-term risk to his health.

A day after the running back worked out in New Jersey, New York signed Najee Harris to a one-year deal on Tuesday. John Harbaugh said Harris "looked good" but is not yet in football shape, which is roughly the going rate in a running back market thinned out by injuries.

The USTA awarded seven of eight women's singles wild cards on Tuesday, with Venus Williams and Sloane Stephens among the recipients. Serena Williams, 44, is still noncommittal after a knee injury at Wimbledon, and the eighth slot on the list simply reads "to be announced."

ZZ Top's drummer of 56 years, Frank Beard died in hospice care at his ranch in Richmond, Texas on Tuesday. Billy Gibbons called him "one of the most naturally innovative drummers," a week after the band abruptly cancelled a Hollywood Bowl date over his health.

At Tuesday morning's announcement, Madonna took 11 nominations for the 2026 MTV VMAs, comfortably ahead of Taylor Swift's nine. Ariana Grande and Sabrina Carpenter tied at seven apiece, while Bruno Mars, Zara Larsson and PinkPantheress each landed five.

Prosecutors are leaning on a defendant's own repeated retellings, so fact and fiction collided in the trial over Tupac Shakur's 1996 killing. Duane "Keffe D" Davis, 63, faces the first charges brought in nearly 30 years, and his lawyers are arguing those retellings were entertainment rather than confession.

What it is: The Navy confirmed Tuesday that the destroyer USS Benfold lost power for four days in the Pacific last month with roughly 300 sailors aboard. Confirmation arrived in the same week that carrier crews began describing their own deployments in language the service would clearly prefer nobody printed.

The detail: Sailors on the USS Abraham Lincoln, at sea since 11 December, call it "a floating prison", citing thin food supplies, broken systems and a deployment with no announced end date. Four days without propulsion on a guided-missile destroyer is not an inconvenience, because a ship that cannot move cannot reposition, refuel or defend a formation.

The backdrop: Both ships sit inside a Middle East posture that has kept US hulls forward-deployed for months longer than the maintenance cycle assumes. Extended deployments push repairs to the right, and deferred repairs are precisely how a destroyer ends up adrift in open water for most of a week.

Why it matters: Senator Mark Kelly, a former Navy combat pilot, has demanded an investigation after a sailor's grandmother told him her grandson lost 20 to 25 pounds at sea. Readiness stops being an abstraction when the same fleet is being asked to keep the Strait of Hormuz open, and a cargo ship has just been hit doing it.

The pushback: Kelly has criticised what he calls dismissive responses from both Trump and Defense Secretary Pete Hegseth to crew complaints. Pentagon officials frame the Lincoln's extension as an operational necessity, which is true and also does nothing to feed anyone aboard.

What to watch: Kelly wants a bipartisan congressional delegation to visit the Lincoln, and whether that trip is granted will say more than any statement the Navy issues. Watch also for how many other hulls turn out to have had quiet mechanical failures, because breakdowns tend to get confirmed in clusters once the first one is public.

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—The Five Minute Daily Team