Democrats’ sweep of Congress pushed the 10-year US Treasury yield to 4.847% on Thursday, its lowest since September 10, according to Reuters. Oil sent the bigger signal: Brent crude fell 8.7% to $94.42 a barrel, per Morningstar, because traders expect the new Congress, seated in January, to scrutinize funding for the war on Iran.

Democrats have reason to use that leverage because even Vice President JD Vance blamed the war for Republican losses, CNBC reported. Congress controls money, not tariffs or war decisions, so the sharper check is its power to confirm Federal Reserve governors: if Trump removes Lisa Cook, a governor who has opposed him, Democrats can refuse her successor.

Markets are pricing an expected check, not an enacted one, and some are hedging: AI-linked tech stocks fell on fears of data center scrutiny, per Morningstar, while gold rose more than 3% past $4,130 an ounce as the dollar hit a one-month low, according to Investing.com.

The Gist AI Editor

Treasury and European bond yields fall after Democrats’ midterm gains

Yields drop to multiweek lows

Yields on long-dated U.S. Treasurys, German Bunds and U.K. gilts fell to multiweek lows after the Democrats’ gains in the U.S. midterm elections and a sharp fall in oil prices that followed, according to the Wall Street Journal. A yield is the annual return buyers of a government bond receive, so falling yields mean investors are paying more for the bonds. Cheaper oil also eases inflation expectations, which is why bond markets in three separate economies moved together.

France and the U.S. clash over G7 AI safety coordination

France proposed that the G7 coordinate on advanced AI safety, and the U.S. government has blocked the effort, according to Politico Europe. A White House official called the proposal “unnecessary bureaucracy.” France’s digital minister, Anne Le Hénanff, told a French Senate hearing on Wednesday that she had held two ministerial meetings on the issue.

Blue Origin pushes launches to 2027

Jeff Bezos’s rocket company Blue Origin has delayed its launches until 2027 after a devastating explosion, according to the Financial Times. The delay leaves it further behind Elon Musk’s SpaceX.

Oracle’s New Mexico data center developer delays air permit deadline

The developer of power infrastructure for Oracle’s New Mexico data center agreed to waive a deadline for action on a key air permit, Bloomberg reports. State environmental regulators now have more time to review the application instead of having to deny it.

Stay tuned for the next Gist—your edge in a shifting world. The Gist remains independent and reader-supported. If you value news free from corporate or state interests, consider supporting our mission with a donation.

Treasury, European Bond Yields Tumble as Markets Lifted by U.S. Democrats’ Victory
— Wall Street Journal

Health Care Roundup: Market Talk
— Wall Street Journal

Financial Services Roundup: Market Talk
— Wall Street Journal

Oracle Data Center Developer Waives Key Air Permit Deadline
— Bloomberg

Blue Origin delays launches until 2027
— Financial Times

La fin accélérée du macronisme au Parlement
— Politico.Eu

Italy’s foreign minister launches a national science diplomacy strategy

Italy’s foreign minister Antonio Tajani presented a national strategy for science diplomacy, which includes a protocol with the National Research Council (CNR), according to Il Sole 24 Ore. He said the strategy should put innovation and support for start-ups more firmly at its centre. The Italian Space Agency (ASI) and the Calabria region are working with NASA on the Artemis lunar programme, Il Sole 24 Ore reported.

German firms raise price plans as crude oil and gas reach their highest levels since 2022

The ifo institute’s price expectations index, which measures the share of German firms planning to raise prices, rose to 25.9 points in October from 23.0 in September, according to ifo. Crude oil and gas prices hit their highest level since 2022 in the second half of October, and ifo’s business-cycle head Timo Wollmershäuser expects producer and consumer inflation to keep rising. In September, ifo had already forecast that inflation would climb above 3% in the coming months. It cited the blockade of the Bab al-Mandab strait, and said utilities were likely to raise electricity and gas prices in winter. Firms that pass on higher energy costs now are raising prices before those winter utility increases arrive, so the inflation pressure ifo describes comes from both producers and consumers at once.

Germany’s parliament starts the driving-licence reform

The Bundestag began work on the first part of a driving-school reform on Thursday, according to ZDF. The transport ministry says a Class B car licence currently costs about €3,400 on average. Transport minister Steffen Bilger (CDU) has said savings could reach several hundred euros, and up to €1,000 in the best case. ZDF is examining whether his calculation holds up.

NASA astronauts vote in the US midterms from orbit

Three American astronauts on the International Space Station cast ballots in Tuesday’s US midterm elections, according to Euronews. They sent them electronically to officials on Earth over advanced communication links.

Catch the next Gist for the continent’s moving pieces.

Führerschein-Reform: Das ist geplant – wird es günstiger?
— ZDF

Höhere Energiepreise werden zunehmend weitergegeben
— IFO

Kräftig gestiegene Energiepreise sorgen weiterhin für Preisdruck
— IFO

Tajani lancia la strategia nazionale per la diplomazia scientifica. «Asi e Regione Calabria collaborano con Nasa su progetto Artemis»
— Il Sole 24 Ore

NASA astronauts cast US election votes from the International Space Station
— Euronews

Münchner Abschiede und Selenskyjs Hoffnungen
— ZDF