Five Things You Need to Know to Start Your Day

Good morning. SoftBank-backed Arm nears the biggest US stock market debut of the year, the selloff in US government bonds intensifies and Japan to release Fukushima wastewater. Here’s what people are talking about.

SoftBank-backed Arm took a step toward what’s set to become the biggest US initial public offering of the year, a bet that the once-obscure designer of phone chips can flourish in the era of artificial intelligence computing. In a long-awaited regulatory filing Monday, Arm said the offering is being led by Barclays, Goldman Sachs, JPMorgan and Mizuho Financial Group. A successful debut by Arm would provide a windfall for SoftBank founder Masayoshi Son, whose Vision Fund lost a record $30 billion last year. It could also spur dozens of companies to pursue — or further delay — their own IPO plans.