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Good morning from the Financial Times.

Today is Monday, March 31st, and this is your FT News briefing.

Germany's spending push is driving up European borrowing costs, and Corweave's IPO is testing the market's faith in AI.

Plus, black market traders in Gaza have created a big business selling cash.

That means that regular people are paying right now rates of 30% for hard currency.

I'm Kasha Bursalian, and it harder for other European governments to do the same.

It all has to do with higher bond yields. They've gone up quite a bit this month.

And since Germany's bond market acts as Europe's benchmark... It all has to do with higher bund yields. They've gone up quite a bit this month.

And since Germany's bond market acts as Europe's benchmark, higher borrowing costs there usually mean higher borrowing costs elsewhere.

Like in France and Italy, both countries have higher debt loads than Germany, meaning

they've got less fiscal wiggle room.

That might make it more difficult to

...