European Council President COSTA spoke by phone with Iran's president and urged Iran to resume cooperation with the International Atomic Energy Agency (IAEA).

A document shows Germany plans to procure up to €1.7bn ($1.9bn) of encryption technology from German security firm Secunet for Bundeswehr data networks. A key parliamentary committee is expected to approve the agreement on Wednesday. The initial order is slightly above €100m, with deliveries due to begin next year. The wider four-year framework builds on an existing deal. Secunet will deploy a Secure Inter‑Network Architecture (SINA) and provide planning, maintenance, training and repair services. Funding will be allocated via next year’s commitment authority. The defence ministry estimates follow-up operating costs of about €6m to 2030. Secunet shares rose as much as 11% intraday on the report.

Former Dallas Fed president Robert Kaplan said the bond market has been too aggressive in pricing Fed rate hikes. He called a September hike the right decision, said a December hike could be reasonable, but suggested pausing in October may be appropriate. Kaplan described inflation as concerning on both monthly and annual measures and said monthly inflation annualized is close to 3%. He noted the Fed dot plot implies one more hike this year, while markets had priced at least three additional hikes through next June as of Thursday morning. Kaplan added that AI infrastructure and defense spending are strong, whereas autos, housing-related firms and businesses serving low- and middle-income consumers are weak or sluggish, and sectors most sensitive to the federal funds rate are not overheating.