New York mutation

Bloomberg

A new coronavirus variant detected in New York City, once the global center of the pandemic, is being watched closely by U.S. health officials. Along with another variant from California, more easily transmitted mutations from the U.K., South Africa and Brazil are triggering warnings that a new surge of infection could appear before vaccination efforts can take hold. In at least two U.S. states, hospitalizations are headed back up. Here is what you need to know about the available Covid-19 shots, and the latest on the pandemic.David E. Rovella

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic globally and across America

Here are today’s top stories  

As the world approaches 2.6 million dead from the coronavirus, with America closing in on 515,000, the thought may occur how such ghastly losses compare with all the other ways humans die. Justin Fox, writing in Bloomberg Opinion, decided to take a look.

Stocks climbed on Monday despite concern about the impact of higher Treasury yields. In a broad-based rally, the S&P 500 notched its biggest advance in almost nine months, the Nasdaq Composite jumped 3% while the Russell 2000 of small caps outperformed. Day-trader favorite GameStop added to last week’s surge of more than 150%, with more frenzied touts of the video game store on social media. Here is your markets wrap.

Furious mass protests against the military dictatorship in Myanmar have continued despite the junta’s increasingly brutal repression of civilians following a coup last month. Its security agents reportedly killed at least 18 people on Feb. 28 alone.

Protesters in Mandalay gather for a demonstration against the military coup. The Myanmar junta’s security forces killed 18 civilians on Feb. 28 alone.

Photographer: Anadolu Agency/Anadolu

The head of Canada’s national housing agency defended his organization’s prediction that the Covid-19 pandemic would cause a sharp decline in the residential real-estate market after it unexpectedly boomed instead.

Former French President Nicolas Sarkozy was found guilty of corruption by a court in Paris, becoming the country’s second head of state in the modern era to be convicted of a crime after leaving office.

Former French President Nicolas Sarkozy 

Photographer: Guillaume Souvant/AFP

Another week, another billionaire weighing in on cryptocurrency. On Monday, it was hedge-fund billionaire Dan Loeb, who revealed his thoughts on the subject.  

Remember all those stories about the retail apocalypse? It turns out the looming death of brick-and-mortar was not greatly exaggerated. U.S. mall values plunged an average 60% after appraisals in 2020 as about $4 billion in value was erased from 118 retail-anchored properties with commercial mortgage-backed securities debt. And it gets even worse.

What you’ll need to know tomorrow 

What you’ll want to read in Bloomberg Real Estate

Selling a Lux Manhattan Home? Accept the Loss 

Owners who bought at the peak of Manhattan’s luxury condo frenzy just a few years ago are seeing their asset values erode amid a glut of unsold units. Manhattan’s priciest apartment contracts last week had one thing in common: The sellers lost money.

So-called Billionaire's Row in Midtown Manhattan

Photographer: Gary Hershorn/Corbis News

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Wednesday, June 23, 2021

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