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Bloomberg’s Weekend Reading

Market mayhem welcomed investors back from the Thanksgiving holiday as a new coronavirus variant was identified in South Africa. A top U.K. adviser warned that it’s the most worrying mutation yet. As concern swirls around the prospect of renewed travel restrictions and lockdowns in Europe, pressure is building to critical levels in America. In some states, the willfully unvaccinated are buckling some healthcare systems, endangering non-Covid patients in need of care. But the vaccinated aren’t out of the woods: Rich nations appear to have been lulled into a false sense of security.

What you’ll want to read this weekend

Jamie Dimon dined on crow for Thanksgiving after realizing Beijing might not share his sense of humor about the Chinese Communist Party’s longevity. His expression of regret less than 24 hours after cracking a joke shows the power China wields over even the biggest businesses. But, as Tim Culpan explains in Bloomberg Opinion, it was the JPMorgan CEO’s comment about Taiwan that was more on point.

Bank of America strategists are bearish on markets next year and urged investors to focus on preserving cash. A plunge in tech stocks is setting off a quick exodus among professional speculators and the surge in inflation is giving others pause. Top money mangers told Bloomberg how to adapt.

Known Holdings is building what it calls a mothership for Black, Indigenous and Latinx leaders on Wall Street. “Salomon Sisters” marked its debut by forming a partnership with Lazard. Dads are doing less at home as offices reopen, and President Joe Biden says he wants diversity at the Fed. Here are some potential candidates.

Known Holdings co-founders from left, Ushir Shah, Jim Casselberry, Valerie Red-Horse Mohl and Nathalie Molina Niño.

Putting money to work: Jack Dorsey’s big-money giving has bloated Hollywood charities. The dollar surged this week to its strongest level in more than a year, driven by a climb in Treasury yields following Biden’s decision to renominate Jerome Powell as Fed chair. Bitcoin tumbled 20% from a record high as the new variant of the coronavirus spurred traders to dump risk assets across the globe.

From Miami to Seattle, rents are skyrocketing. But in Asia, there’s a major tax battle brewing as Singapore and Hong Kong vie to remain attractive to the wealthy. And for all the globetrotters out there, here are some essential travel tips, including why you should always pack champagne.

Nosy Be island, Madagascar

Photographer: DEA / E. Caracciolo/De Agostini Editorial

What you’ll need to know next week

What you’ll want to read in Bloomberg Digital

NASA Is Doing Something About Planet Killers

NASA launched a mission to crash into an asteroid. But don’t panic: It’s a test to learn how humans can nudge threatening rocks off course to avoid an extinction-level event. The Double Asteroid Redirection Test will cruise for 10 months to a binary asteroid system, targeting a 530-foot rocky body in a bid to change its orbit around the larger asteroid.

A rendering of the DART craft.

Older messages

Another Covid wave begins

Tuesday, November 23, 2021

Bloomberg's Evening Briefing View in browser Bloomberg The vast majority of those who need intensive care and ventilators are unvaccinated. That's the common refrain across America and much of

Targeting planet killers

Monday, November 22, 2021

Bloomberg's Evening Briefing View in browser Bloomberg After weeks of speculation, US President Joe Biden named Jerome Powell for a second term as the central bank's chair and nominated

Wall Street can’t handle inflation

Saturday, November 20, 2021

Bloomberg's Weekend Reading View in browser Bloomberg Follow Us Get the newsletter Hero or zero? Getting inflation right is a make-or-break moment on Wall Street, so what do you do when the old

U.S.-China relations thaw

Friday, November 19, 2021

Bloomberg's Evening Briefing View in browser Bloomberg Europe is heading for lockdown and imposing tight restrictions on the unvaccinated as a wave of new Covid-19 infections threatens to overrun

Swimming in cash

Thursday, November 18, 2021

Bloomberg's Evening Briefing View in browser Bloomberg The richest Americans are swimming in a bigger pool of cash thanks to Donald Trump and the Republican Party. Revenue from the US estate tax

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