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The 10-Point: My Guide to the Day's Top News

The Wall Street Journal
Good morning,
Boots on the Ground
President Barack Obama is expected to announce today that he is sending up to 250 additional military personnel to Syria to help local forces fighting Islamic State. The new deployment will increase the total number of American military personnel operating on the ground inside Syria from 50 to about 300 and runs counter to Mr. Obama’s strong aversion to deepening U.S. involvement in global hot spots. Meanwhile, we chronicle the rise and deadly fall of Islamic State’s No. 2 oil executive, who was killed last May in a raid by U.S. Special Forces. The raid also captured a trove of proprietary data that explains how Islamic State became the world’s wealthiest terror group. We report on the recovered files and how international coalition strikes have dented but not destroyed the group’s multinational oil operation.
The Bond Market’s Groundhog Day
As the Federal Reserve’s policy-setting committee prepares to meet tomorrow, one signal suggests that investors believe the economy, and financial markets, may be finding a footing after a tumultuous start to the year. Government-bond yields are heading higher around the world, a move typically linked to rising expectations of economic growth and inflation. As investors drive down bond prices, yields rise. But many worry the recent bond selloff is just the latest in a series of false starts. In three of the last four years, bond prices have fallen sharply at the start of the year, only to surge later as economic and geopolitical concerns took over investors’ minds. And in other market news, the European Central Bank’s plan to buy corporate bonds has raised the question of whether easy access to money will let companies put off making hard choices.
Fear and Loathing in the Boardroom
Chief executives at big American companies are increasingly frustrated by the populist tone of the presidential campaign, and concerns are mounting in boardrooms and corner offices that anti-business rhetoric may solidify even after the November election. Executives worry the political climate could weigh on consumer confidence, thwart any immigration overhaul and derail the Trans-Pacific Partnership. Meanwhile, both Donald Trump and Hillary Clinton hold double-digit leads in Pennsylvania ahead of tomorrow’s primaries. But Mr. Trump’s two rivals, Sen. Ted Cruz and Ohio Gov. John Kasich, announced an alliance last night to divvy up the remaining primary states in an unprecedented last-ditch effort to stop the GOP front-runner. Mr. Cruz outflanked Mr. Trump in the delegate fight at state party conventions over the weekend, while in the Democratic race, Sen. Bernie Sanders adopted a more conciliatory tone toward Mrs. Clinton.
Cities of the Future
In the era of urbanization, the eternal struggle to balance growth and quality of life shows few signs of abating. Our special report highlights five cities that are leading the way in urban innovation, from Singapore’s model of success with extremely limited resources to Detroit’s strategy of reducing red tape for neighborhood redevelopment. We also take a look at how the daily commute is going to change and why cities aren’t ready for the driverless car. And while suburbs are striving to be more like urban centers to attract young workers, cities themselves are going underground—with the help of technological advances in tunnel building. We also probe efforts to make cities healthier, provide affordable housing and revitalize public spaces.
TODAY'S VIDEO
Quake Vigil
That Was Painless
Hundreds of mourners gathered in a square in Kathmandu, Nepal, yesterday to mark the one-year anniversary of an earthquake that killed nearly 9,000 people. The quake left hundreds of thousands homeless and many remain in temporary housing.
TOP STORIES
U.S.

Long-Term Costs of Cutting Emissions Grow Hazy

Texas Murder Trial to Shed Light on Mexican Drug Cartels
WORLD

Obama, Merkel Urge Action on Trade Agreement

30 Years After Chernobyl Disaster, an Arch Rises to Seal Melted Reactor
BUSINESS

Department Stores Need to Cull Hundreds of Sites, Study Says

Uber Reaches a Tipping Point With Its Drivers
MARKETS

Oil Producers Lock In Once-Snubbed Prices

Warren Buffett’s Former Heir-Apparent Resurfaces as Activist Investor
NUMBER OF THE DAY
$6 billion
Apple’s revenue from its smartwatch during the device’s first year, based on analysts’ estimates of 12 million Apple Watches sold. Despite sales outpacing the iPhone’s first year, the smartwatch is dogged by perceived shortcomings.
QUOTE OF THE DAY
We’re talking about the most valuable commodity on earth: life itself.
Dr. S. Jay Olshansky, a professor of public health, on an upcoming clinical trial to see if the drug metformin can delay or prevent some of the most devastating diseases of advanced age. Seniors have been hounding the researchers for a chance to participate in the study.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the new alliance between Messrs. Cruz and Kasich? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Margaret Rawson
READER RESPONSE
Responding to Friday’s question on proposed rules curbing Wall Street pay, Alice Hennessey of Idaho wrote: “Shall we also get the government involved in limiting the compensation of athletes, coaches and entertainers? Their performance can cause teams to fold and shows to flop—but the government doesn’t want to monitor their pay. Get the government out of the market.” Kevin Black of Nebraska said: “I worry about the long-term effects of the rules...Finance is already having issues attracting top-tier talent. As a millennial in the finance industry (though far from Wall Street), I can see why the industry is unattractive to many of my peers and this will only exacerbate the problem.” But Todd Mathis of Texas opined on the risk of talent flight: “If these are the same executives who virtually collapsed our economic system eight years ago, I’m wondering what talent they have. Maybe we should cut their bonuses altogether and help them leave quicker!” And Glen Fillion of Michigan commented: “Probably not a bad idea to infuse some sense of responsibility and accountability to the people who sit at the top of the economy and play with other people’s money and livelihoods.”
This daily briefing is named "The 10-Point" after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary "What's News" digest of top stories. Technically, "10-point" referred to the size of the typeface. The type is smaller now but the name lives on.
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