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NYTIMES (Santul Nerkar and Alex Travelli) - Federal Prosecutors Move to Drop Bribery Case Against Indian Magnate

Gautam Adani had been accused of lying to American investors about payoffs in India. The end of the case came as President Trump has signaled a transactional approach to justice.

AXIOS (Neil Irwin) - Kevin Warsh's bond market bind

Kevin Warsh hasn't even been sworn in as leader of the Federal Reserve yet, and his first great test has already arrived. The big picture: Global bond markets are sending borrowing costs markedly higher in this era of energy supply disruptions, AI-fueled demand for capital and massive fiscal deficits. - The yield on 30-year U.S. Treasury bonds has surged to 5.11%, its highest level since 2007. The rate was 4.63% at the end of February. - It sets up an environment where the Fed may well need to prevent inflation expectations — as reflected in bond traders' bets — from coming unmoored. - It's a paradox of monetary policy: Sometimes, the only solution for higher long-term interest rates is higher short-term interest rates. Zoom out:…