Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) Three candidates endorsed by Zohran Mamdani swept to victory in Democratic congressional primaries on Tuesday, showing that the coalition which powered the New York City mayor to a surprising victory last year is gaining strength. Former New York City Comptroller Brad Lander, New York state lawmaker Claire Valdez, and community organizer Darializa Avila Chevalier won in their respective congressional districts, toppling some of the city's most established political figures. The victories were viewed as a test of Mamdani's political strength and appear to have paid off, with the mayor's allies winning in key races and the Democratic Socialists of America expanding its political power at the local and national level.

2) President Trump said Iran will be able to use funds released from frozen accounts only to purchase food and medical supplies from the US. Iran disputed Trump's comments, saying the funds would be used "freely, in whatever manner it deems appropriate," rather than being restricted to purchases from the US. The US and Iran are making progress in peace negotiations, but outstanding issues, including Israel's conflict with Iran-backed Hezbollah in Lebanon, stand in the way of a firm deal.

3) Elon Musk's SpaceX sold $25 billion of investment-grade bonds, replacing costly debt that had helped finance Musk's acquisition of X and expensive loans and bonds issued by xAI. The bond sale will result in SpaceX paying $1.5 billion of interest annually, compared to the $1.8 billion that X and xAI would have spent to service their debt if they hadn't been folded into SpaceX. The bond offering was supported by investors, with $89 billion of orders received at its peak, and will be used to refinance a $20 billion bridge facility and for general corporate purposes.

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