Race Between Covid-19 Vaccines and Delta Variant Plays Out in U.K.

LONDON-The highly transmissible Covid-19 Delta variant is generating rapidly rising caseloads in the U.K., but smaller increases in hospitalizations and fatalities, in a hopeful sign that mass vaccination can prevent a repeat of the heavy toll of sickness and death seen earlier in the pandemic.

The other message is one of caution. Epidemiologists say the U.K.'s experience shows how easily the variant can spread even within populations where vaccine uptake is high. That underscores the risk of further outbreaks of Covid-19 in the U.S. and other advanced economies, as well as the urgency of widening and accelerating vaccination programs.

EU Aims to Beef Up Cybersecurity Amid Ransomware Boom

The European Union is aiming to step up international cybersecurity collaboration through a joint unit intended to serve as a hub for intelligence and a first-responder to major hacks.

The announcement came a day after a top U.S. official said Washington would work more closely with Brussels to counter a spate of ransomware attacks that have crippled critical infrastructure in recent weeks.

CDC Advisory Group Says 'Likely Association' Between mRNA Covid-19 Vaccines and Rare Myocarditis Cases

Centers for Disease Control and Prevention advisers said Wednesday that there is a "likely association" between Pfizer-BioNTech and Moderna's mRNA Covid-19 vaccines and an inflammatory heart condition in some younger individuals, but noted that cases were rare and that most patients quickly felt better.

The CDC and other health authorities still recommend Covid-19 vaccination for those age 12 and above, given the greater risk from Covid-19, which itself can cause myocarditis and other complications.

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Expected Major Events for Thursday

04:30/NED: 1Q GDP - 2nd estimate

05:00/FIN: May PPI

06:00/EU: May New Commercial Vehicle Registrations in Europe statistics (EU27 + EFTA3)

06:45/FRA: Jun Monthly business survey (goods-producing industries)

07:00/CZE: Jun Business cycle survey (consumer/business confidence)

07:00/SPN: 1Q Final GDP

07:30/SWE: May PPI

08:00/GER: Jun Ifo Business Climate Index

08:00/POL: May Unemployment

08:00/ICE: May Labour Force Survey

11:00/UK: Agents' Summary of Business Conditions

11:00/UK: UK interest rate decision

12:00/POL: May Broad money M3

13:00/BEL: Jun Business Confidence Survey

15:59/UKR: 1Q Unemployment

16:59/SPN: 1Q Quarterly Balance of Payments

23:01/UK: Jun UK Consumer Confidence Survey

23:01/UK: May UK monthly automotive manufacturing figures

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06-24-21 0030ET