Sophia Reyes and Jason Miller break down Christine Lagarde’s call to tighten rules on non-EU stablecoins—and why it matters for markets. Plus: DAX movers and a coming index reshuffle (Porsche & Sartorius out; Scout24 & GEA in), Eurozone unemployment ticks down, manufacturing PMI edges into expansion, and what an HICP surprise could mean for rates—and your wallet.