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Good morning from the Financial Times.

Today is Friday, September 29th, and this is your FT News Briefing.

Italy raised its budget deficit forecast and investors panicked.

The hype around the US IPO market seems to be fading.

Plus, US student loan repayments start again next week, and Americans are grappling with this

new hole in their pocket.

It's a real reminder of how little you actually control, and how big, big systems can influence

your life. I'm Mark Filipino, and here's the news you need to start your day.

European government bond prices dropped yesterday. Investors got spooked by Italy's

larger than expected budget deficit. They're also concerned that central banks will keep

interest rates higher for longer. Yields on the Italian 10-year bond rose to their highest

level in a decade. The sell-off even spread to UK markets. 10-year yields there had their

biggest daily rise since February.

So the past two weeks were a big party for the initial public offering market.

The chip designer arm listed the grocery store app Instacart win public,

and so did the marketing software group Clavio. The share price in all of these cases

jumped, but the shine seems to be wearing off. Here to talk about is the FT's

West Coast financial editor, Tabby Kinder. Hey, Tabby.

Hi, Mark. So I think I may have given a way a bit of the punchline, but how exactly are

these flashy tech IPOs doing after their market debuts?

...