Bruised and beaten

Evening Briefing

More than one-quarter of all those killed by the coronavirus are Americans, who despite living in the wealthiest nation in the world were nevertheless victimized by a perfect storm of unforced errors. New York City was the center of this national disaster, home to 22,000 of the 110,000 Americans who have perished in a scourge that has claimed 404,000 worldwide. On Monday, a bruised, beaten and perhaps forever-changed New York took its first few steps back on the street. Across the globe, however, the pandemic is still getting worse. David E. Rovella

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Here are today's top stories

New York City has also become a focal point of global revulsion when it comes to systemic, race-based brutality by U.S. police department employees. With embattled Democratic Mayor Bill de Blasio bending to pressure to end his controversial curfew, assaults on peaceful protestors by the New York City Police Department receded on Sunday. In some cities like Seattle, police violence against protestors, and sporadic violence by protestors, continued. But now the question is whether this movement will breed lasting reform, or get chewed up by Washington and state lawmakers. President Donald Trump is already lining up against legislation aimed at police accountability, while preparing to use calls for reform as a tool of fear in his re-election bid. Former Vice President Joe Biden, the presumptive Democratic nominee, stepped on an initial attempt by the Republican in this vein.

If moves by the New York State Legislature and Minneapolis City Council are representative of what's to come, then supporters of reform may be in luck. Lawmakers in Albany are pushing through long-sought transparency for police disciplinary records, while officials in Minneapolis are planning to fully reorganize their deeply troubled police department, at whose hands George Floyd was killed two weeks ago today.

Morgan Stanley strategists added a bet on a steeper yield curve, seeing the potential for a V-shaped U.S. economic recovery after all. Wall Street was even more euphoric, erasing its losses for the year. This was thanks in part to the lifting of stay-at-home orders in several states, both those like New York that waited for low infection rates, and those in the South and West, where the deadly virus is still gaining ground.

Questions of a second wave, brought on by premature state reopenings, a lack of discipline when it comes to social distancing and two weeks of mass gatherings, will bedevil America for the next few months at least. Europe and parts of Asia find themselves in a similar position. But in Latin America, and especially Brazil, the virus is still killing with impunity. For those who think the worst is over, guess again: the World Health Organization just announced that 136,000 new infections were reported Sunday, the most ever in a single day.

Genetic-testing giant 23andMe has found that differences in a gene that influences a person's blood type can affect your susceptibility to Covid-19.

The Chinese company that makes batteries for Tesla and Volkswagen electric vehicles said it has developed a power-pack that lasts more than one million miles, a development that could help automakers attract more buyers for EVs.

Too much oil? Try too many diamonds. The pandemic has devastated the gem industry, leaving miners with billions of dollars worth of shiny rocks they can't sell.

What you'll need to know tomorrow

What you'll want to read tonight in Bloomberg Green

How Covid-19 Blocked Deals to Save the Oceans

Before 2020 became the year of Covid-19, it was set to be the "year of the oceans." With only a small portion of the seas protected by law or agreement, expectations were high that bold steps to preserve biodiversity, rein in overfishing and bolster social responsibility could be within reach. Then the coronavirus arrived, and high-profile deals were cancelled. Now, environmentalists worry the momentum may be lost.

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