Good morning from the Financial Times. Today is Thursday, August 5. This is your FT news briefing.

The world's stock of negative yielding debt is on its way to reaching record heights.

Softbank is opening up its wallet again. Door dash is stepping foot on European soil.

Plus many younger people in China have hit their limit when it comes to stressful lifestyles.

The government sees this as a threat.

The real irony of this thing is that the people who are supposed to be enjoying the Chinese

dream are now in the midst of this hamster wheel. It really is a bit of a living hell.

We'll tell you how Beijing is trying to make the lives of young people easier.

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

The world's negative yielding debt has ballooned to a value of 16.5 trillion dollars.

It's being caused by a relentless global bond rally that's dragging borrowing costs below zero

and this is really blindsided a lot of investors. They were counting on an economic rebound from

the pandemic and rising inflation to lift long-term borrowing costs. Negative yields mean investors

are willing to pay for the opportunity to lend their funds. Those who hold this debt to maturity

are guaranteed to make a loss. The more than 16.5 trillion dollars of negative yielding debt is

the highest to mark in six months and according to an index by Barclays, it's not far off from the

record of more than 18 trillion that was set in December. A lot of fund managers who continue to

expect a rebound in yields plan to ride out the summer law before renewing their bearish positions.

Softbank's second vision fund plans to invest $100 million and a new fund started by one of

its former partners. According to a presentation seen by the FT, Jeff Housenbold's new fund is

called Honor Ventures and it's looking to raise between $500 million and $600 million for investments

in consumer tech startups. The FT's venture capital correspondent Miles Cruba explains why

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