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Serena Williams won't be making history at Wimbledon this year. In the middle of the first set of her Round 1 match against Aliaksandra Sasnovich, Williams slipped on the grass while planting one of her legs, injuring her knee.

Williams exited briefly to be treated by a trainer. She returned and attempted to continue the match, in tears as she tried to serve without putting any extra weight on her injured leg. She was able to manage for a short while, but suddenly crumpled to the ground in pain after landing on her knee. She was unable to continue, looking devastated as she left the court.

Williams didn't conduct a news conference after her withdrawal, but released a statement on Instagram.

"I was heartbroken to have to withdraw today after injuring my right leg," the statement reads. "My love and gratitude are with the fans and the team who make being on Centre Court so meaningful.

"Feeling the extraordinary warmth and support of the crowd today when I walked on and off the court meant the world to me."

This is only the second time in her long, storied career that she's been forced to retire from a Grand Slam due to injury. The only other time was at Wimbledon in 1998, 23 years ago.

The rainy weather has affected the condition of some of the courts, leading to inconsistent conditions and slippery grass. Williams' fateful slip was the second time on Tuesday a player was forced to retire after sustaining an injury from slipping on the grass. Roger Federer was down 2-1 and in serious trouble against France's Adrian Mannarino when Mannarino slipped on the grass and injured his knee. He was forced to retire from the match. Novak Djokovic slipped numerous times during his match on Monday, but was able to avoid injury.

This is a heartbreaking injury for Williams. With Naomi Osaka and defending champion Simona Halep not playing (plus No. 1 seed Ash Barty dealing with a hip injury), this was Williams' best chance to win that elusive 24th Grand Slam. Before she slipped, Williams was playing great tennis and getting into a groove. Whether she'll have to wait for the US Open to try again depends entirely on her injury. If it's serious, we may not see her on the court again until the start of next season.

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Serena Williams was forced to retire from her first round match after injuring her knee on the slippery Wimbledon grass. (Photo by AELTC/Jed Leicester - Pool/Getty Images)

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Wimbledon 2021: Serena Williams retires from match after heartbreaking on-court injury - Yahoo Sports

The company Tesla (TSLA) booted from the S&P 500 index has vastly outperformed the electric automaker by a stupendous margin, analysts at Research Affiliates pointed out this week.

Tesla entered the S&P 500 to great fanfare on Dec. 21, 2020, in a rebalance of the index. It surged well over 20% in its first month, but since then has fallen, standing now with gains of about 5%, lagging the S&P 500s (^GSPC) near-16% gain in that same timeframe.

Teslas entry meant one company had to leave, as the S&P 500 does not become the S&P 501 when a new company joins the club. To make room, S&P had to kick out Apartment Investment and Management (AIV) from the index, but since that December 2020 rebalance, the companys stock spiked almost 60% and though it went down still stands around 40% higher than it did when it got the boot.

According to analysis from Research Affiliates' Rob Arnott, Vitali Kalesnik, and Lillian Wu, Apartment Investment and Management, this pattern is not uncommon. Frequently, additions to the index underperform and removed companies often do very well, the authors wrote in a research note.

"Traditional cap-weighted indices routinely buy high and sell low when the index rebalances resulting in substantial hidden costs to investors who track the index, the note said. The December 2020 S&P 500 rebalance out of AIV and into TSLA cost investors 41 [basis points] in the first six months, and the cost may go higher.

In their view, a struggling stock getting kicked out of the index during a rebalancing means getting the axe at a low point. On the other side, a hot new stock getting added to the index is trading at a high point.

TSLA vs AIV with the S&P 500 for context. (Yahoo Finance)

The authors pointed out that though index investing is passive, the actual indexes arent necessarily passive as the decisions on which companies to include in the S&P 500 is controlled by a committee. And the index changes to compensate for companies valuations and new entrants periodically, not automatically.

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An investor who had $100,000 in, say, an S&P 500 index fund on Dec. 21 when the rebalancing happened would be $410 poorer had no rebalance happened, Research Affiliates calculated.

"Unfortunately, this cost is totally unnoticed by investors because it is baked into the indexs performance, the authors wrote.

The analysis suggests these are hidden costs of indexing and Teslas underperformance and Apartment Investment and Managements outperformance should have come as no surprise given historical patterns. But of course, there was no guarantee this time was going to be like the previous ones.

But if you think this pattern could be a consistent one, the papers authors believe theres an opportunity to innovate.

Smarter index design and more efficient implementation could help investors tracking traditional indices avoid these hidden costs, they wrote.

That may not happen, so they propose another option: If youre not just an index fund buyer, try doing the opposite of what the index does.

The index rebalance is a great opportunity to do the opposite of what the index does: buy the deletion and sell the addition, the authors wrote. Providing index investors liquidity and benefitting from the mean reversion of the price changes has historically proven to be an excellent investment idea.

Ethan Wolff-Mann is a writer at Yahoo Finance focusing on consumer issues, personal finance, retail, airlines, and more. Follow him on Twitter @ewolffmann.

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The company Tesla booted from the S&P 500 is outperforming it - Yahoo Finance

Michael Jordan stopped scoring points in the NBA in April 2003, but Nike (NKE) is still slam dunking quarterly earnings in large part because of the staying power of the brand the NBA legend made famous.

On its fourth fiscal quarter earnings conference call, Nike executives casually mentioned Jordan brand sales rose an impressive 31% to $5 billion for the company's just completed fiscal year. For a bit of perspective, the Jordan brand now makes up greater than 11% of Nike's overall business. Nike rival Under Armour (UA) is expected to haul in $5.3 billion in sales for its current fiscal year the Jordan brand alone is essentially one entire Under Armour.

Sales from Jordan's women's collections more than tripled in the fourth quarter, Nike said. Nike credited strength for retro Jordan sneakers (Air Jordan 1 and Air Jordan 11) and new releases under young NBA star Zion Williamson.

"The strong sell-through of Zions signature shoe collection demonstrates the continued love for Jordan Brands roster of athletes all over the world," gushed Nike CEO John Donahoe on the call.

PARIS, FRANCE - JUNE 23: Marc Forne wears white ribbed Air Jordan socks from Nike, black / white and red leather Air Jordan sneakers from Nike, outside BLUEMARBLE, during Paris Fashion Week - Menswear Spring/Summer 2022, on June 23, 2021 in Paris, France. (Photo by Edward Berthelot/Getty Images)

Analysts remain impressed with the momentum of the Jordan brand and anticipate it continuing to be a key linchpin in Nike's earnings power in the years ahead.

"The Jordan brand shines," said BMO Capital Markets analyst Simeon Siegel in a research note to clients. "Momentum continues to be driven by the combination of brand heritage and innovation."

To be sure, Jordan isn't the only thing Nike has going for it quite the contrary.

The athletic-wear giant reported record sales in North America for its fourth fiscal quarter as consumers continued to favor sporty looks and focused on health and wellness coming out of the pandemic. Sales surged 141% from last year, and 29% compared to the fourth quarter of 2019 (aka pre-pandemic). Digital sales soared 147% from the fourth quarter of 2019. Even China sales where Nike has been swept up into consumer protests over its stance on Xinjiang increased in all product categories in the quarter (led by a 34% increase in equipment sales).

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Nike's stock jumped 15.4% to $154.35 on Friday's session, finishing at a record high. Investors also rejoiced over Nike's very upbeat full-year outlook. The company sees sales surpassing $50 billion for the first time and gross profit margins gaining in the range of 125 basis points to 150 basis points.

Added Siegel, "Nike's size and budget prove a key, long-term competitive advantage. The brand has no parallel in history when it comes to North America size/scope. With a leading ad budget fueling industry-leading dollar growth, we expect ongoing gains."

Siegel reiterated an Outperform rating on Nike and issued a $174 price target.

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Michael Jordan hasn't played a game in more than 18 years, but Nike is still raking in billions from his brand - Yahoo Finance

(Bloomberg) -- The cryptocurrency aficionados mantra that Bitcoin is equivalent to digital gold is winning converts among the worlds biggest holders of the precious metal.

In India, where households own more than 25,000 tonnes of gold, investments in crypto grew from about $200 million to nearly $40 billion in the past year, according to Chainalysis. Thats despite outright hostility toward the asset class from the central bank and a proposed trading ban.

Richi Sood, a 32-year-old entrepreneur is one of those who swerved from gold to crypto. Since December, shes put in just over 1 million rupees ($13,400) some of it borrowed from her father into Bitcoin, Dogecoin and Ether.

And shes been fortunate with her timing. She cashed out part of her position when Bitcoin smashed through $50,000 in February and bought back in after the recent tumble, allowing her to fund the overseas expansion of her education startup Study Mate India.

Id rather put my money in crypto than gold, Sood said. Crypto is more transparent than gold or property and returns are more in a short period of time.

Shes part of a growing number of Indians -- now totalling more than 15 million -- buying and selling digital coins. Thats catching up with the 23 million traders of these assets in the U.S. and compares with just 2.3 million in the U.K.

The growth in India is coming from the 18-35 year old cohort, says the co-founder of Indias first cryptocurrency exchange. Latest World Gold Council data indicated Indian adults under age 34 have less appetite for gold than older consumers.

They find it far easier to invest in crypto than gold because the process is very simple, said Sandeep Goenka, who co-founded ZebPay and spent years representing the industry in discussions with the government on regulation. You go online, you can buy crypto, you dont have to verify it, unlike gold.

One of the biggest barriers preventing wider adoption is the regulatory uncertainty. Last year, the Supreme Court quashed a 2018 rule banning crypto trading by banking entities, resulting in a trading surge.

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However, authorities show no signs of embracing cryptocurrencies. The nations central bank says it has major concerns about the asset class and six months ago the Indian government proposed a ban on trading in digital coins though it has been silent on the topic since.

I am flying blind, said Sood. I have a risk-taking appetite, so Im willing to take a risk of a ban.

Its not the only country where regulators are cracking down. The U.K.s financial watchdog has just banned Binance Markets Ltd. from doing any regulated business in the country.

The official hostility though means many bigger individual investors are reluctant to speak openly about their holdings. One banker Bloomberg spoke to who invested more than $1 million into crypto assets said with no clear income tax rules at present he was concerned about the possibility of retrospective tax raids if he was publicly known to be a big-ticket crypto investor.

Hes already got contingency plans in place to move his trading to an offshore Singapore bank account if a ban was to be introduced.

To be sure, the value of Indian digital asset holdings remain a sliver of its gold market. Still, the growth is clear, especially in trading -- the four biggest crypto exchanges saw daily trading jump to $102 million from $10.6 million a year ago, according to CoinGecko. The countrys $40 billion market significantly trails Chinas $161 billion, according to Chainalysis.

For now, the increasing adoption is another sign of Indians willingness to take risk within a consumer finance sector thats plagued with examples of regulatory short falls.

I think over time everyone is going to adopt it in every country, said Keneth Alvares, 22, an independent digital marketer who has invested more than $1,300 in crypto so far. Right now the whole thing is scary with regulation but it doesnt worry me because Im not planning to remove anything for now.

(Adds Binance affiliate U.K. ban in 12th paragraph)

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Ethereum gas fees have fallen to their lowest in 2021. With average transactions now costing less than one dollar

The recent decline in the crypto market has seen ethereum transactions fall back down to cost-effective levels once again.

Sunday saw the average transaction fee needed was just five gwei, or $0.15.

Following a surge in price for ethereum, the price hit an all-time high of $4,372 on May 12. Gas fees had begun to surge as ethereums price began to tick higher and higher.

Gas fees in May hit a high of 300 gwei as market participants enjoyed bullish momentum across the non-fungible token (NFT), decentralized finance (DeFi), and decentralized exchanges (DEX) sectors.

However, the recent market correction that has seen ethereum drop in price by more than 50% has seen the overall market slow down. The decline in price has hit the market hard as popularity declines. But the negative price action has played favorably in ETH gas fees.

The new yearly lows in transaction fees means traders can now spend as little as $0.12 to transaction on the ethereum blockchain.

Other notable signs of a decrease in ETH gas fees is perhaps the decline in DEX volumes. Uniswap volume over the past 24 hours was sitting at $884.5 million. Down from its May 19 high. Which saw $2.62 billion in daily volume.

As recently as February, Binance had reportedly spent close to $10 million in ETH gas fees as the network became overloaded. The surge in ETH volume and trading transactions saw Binance temporarily suspend ETH transactions on the exchange.

But it seems those problems are a far cry now that additional DEXs have been created with much lower fees, such as Pancake Swap.

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Before you leave your house in the morning, you probably check your pockets for three things: your phone, keys, and wallet. But if Apples (AAPL) plans for its smartwatch pan out, you might just need to make sure you have one thing on you: your Apple Watch.

As part of the watchOS 8 software update, available as a public beta in the coming weeks, the Apple Watch will be able to present digital ID cards, which will eventually include licenses, and lock and unlock everything from your front door to your car.

This is kind of our vision for eventually replacing the physical wallet where you just have everything you need...right on your wrist, Deidre Caldbeck, director of Apple Watch product marketing, told Yahoo Finance.

Of course, youll need a few additional pieces of technology to make it all work as seamlessly as Apple proposes, including the appropriate Apple Watch version, compatible door locks, and, well, a car that supports the companys wallet capabilities.

Apple isnt alone in its effort, either. Google (GOOG, GOOGL) is working on Android support for digital drivers licenses and car keys. Samsung is also working on its own digital keys. And automakers still need to bring support to their future vehicles.

But with the right pieces in place, the Apple Watch could become your wallet and keys of the future.

Apple has offered its Wallet app on the Apple Watch since it first launched in 2015. Users add their credit cards via the Wallet app on the iPhone, which pulls them onto the watch. Double tapping the button on the side of the Apple Watch pulls up your available credit cards, which you can pay with at any wireless payment terminal.

But the Wallet app has gone well beyond credit cards. In certain states, you can already use a digital version of your car insurance card to present as proof of insurance when youre pulled over. And just like your credit cards, you can pull your insurance card up on your Apple Watch.

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And now the company is adding ID cards to the Wallet app.

We're early on this, obviously, Apple VP of technology Kevin Lynch explained. You'll be able to have it in your Wallet. You can see your ID there like your other cards. And then you can present that if you choose to, for example, TSA.

When presenting your drivers license, your watch will display information like your name, age, address, and other information based on what youre required to show.

Very much like how Apple Pay works, you can digitally present it, and the information can show up for the person who is looking at your ID, Lynch said. And we manage which information is available to which person. Kind of like you do in [the Health app].

You'll soon be able to put your driver's license on your Apple Watch. (Image: Apple)

The concept of bringing your personal ID to the Apple Watch is incredibly enticing. Ive found myself walking around my neighborhood without my wallet on multiple occasions figuring I could use my watch to pay for things if I needed to jump into a store, only to realize I need my license if I decide to pick up wine. Oh, lets face it, its actually White Claw.

Of course, it will take time for the technology to roll out, and each state will likely have different rules as to whether digital IDs can serve as substitutes for physical copies. But New York state and even the federal government are already looking into ways for digital IDs to become a reality.

There are, however, potential pitfalls to such a move. The American Civil Liberties Union, for example, points to the risk of increased ID checks online or by authorities. The organization also warns of tracking capabilities being used as part of digital ID programs.

A digital system could enhance user privacy and control if done right but it could also become an infrastructure for invading privacy and increasing the leverage and control of government agencies and companies over individuals, the organization says in its report Identity Crisis: What digital drivers licenses could mean for privacy, equity, and freedom.

Apple, however, says that neither it, nor the authority that provides your ID, will be able to track when or where youve shown it. That, though, doesnt address the issue of increased ID checks that the ACLU warns of.

Its not just your ID and credit cards, though. Lynch explained that watchOS 8 will also allow users to lock, unlock, and start their cars from their Apple Watches.

It's a lot of fun to be able to just walk up to your car and have it unlock and then drive, Lynch said. I think where we're at right now, with this kind of keys to the world type thing that we're working on here with Apple Watch.

The Apple Watch will soon be able to unlock and start your car. Though, your car will need to support the technology, too. (Image: Apple)

Of course, youll also need a car that can interact with the Apple Watch to make all of this work. That means a car that supports technologies like near-field communication (NFC) and Ultra Wideband (UWB) connections. Your Apple Watch will also need to offer those features. So if you have anything other than the Apple Watch Series 6, UWB is out.

So what's to prevent someone from stealing your Apple Watch and making off with your car, or stealing your license? The same thing that prevents them from stealing your credit cards: your watch's passcode. If someone manages to grab your watch, it will lock the minute it's off your wrist. To unlock it and access your personal information and keys, you'll need to reenter your passcode. Without it, the watch can pretty much just tell you the time.

What's more, the Apple Watch's unlock feature will only work close to your car, similar to your keys. You'll also need to be seated in the driver's seat to start your car with your watch. Essentially, it'll be no different than a pair of keys, with the convenience of them now being a part of your watch.

What about when your watch dies? Well, then it's time to go back to the old standbys of your physical ID and keys. In other words, you'll still want to keep your wallet and keys nearby.

Apples watchOS 8 beta is expected to launch this summer, with the final release coming later this fall. Stay tuned for a full review of the update. And while it will take some time for states and automakers to catch up with Apples ambitions, a world in which your ID and keys live on your wrist doesnt seem too far off.

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Although many players disappointed this year, a few are driving fantasy managers crazy to a greater degree than all others. Ive identified three players Eugenio Suarez, Francisco Lindor, and Brandon Lowe who deserve a deep dive on their early season struggles.

Are these players about to turn things around? Lets find out.

What has gone right: Suarez continues to hit for power and is on pace for roughly 35 homers, 90 RBIs, and 80 runs scored.

What has gone wrong: Batting average has been a major problem for Suarez, who has the second-lowest mark (.173) among qualified hitters.

What the advanced stats say: Suarez has the lowest BABIP (.187) of any qualified player, so there has definitely been some bad luck within his poor performance. Also, his 18.8 percent HR/FB rate is significantly lower than his mark in any of the previous three seasons. That being said, Suarez is making some of his own bad luck by producing less hard contact (35.3 percent) than usual. As one of the most pull-happy players in baseball (49.7 percent in 2021), the third baseman needs to hit the ball hard to get it past shifting defenses. In terms of plate discipline, Suarez has produced a strikeout rate (29.8 percent) that resembles his marks in the previous three years but he's walking slightly less often (8.7 percent).

What Statcast says: Statcast is similarly disappointed in Suarezs quality of contact, as his average exit velocity of 87.6 mph is significantly lower than his marks in his previous three seasons. The sluggers expected stats include a miserable .208 xBA and a respectable .434 xSLG.

The final verdict: Fantasy managers who need power should be happy to buy low on Suarez. He should cruise past the 30-homer plateau and could finish with 40 round-trippers by enjoying one prolonged hot streak. Also, his R+RBI will continue to be strong in a productive Reds lineup. But in terms of batting average, managers may need to accept the 29-year-old as someone who hits .220 or worse the rest of the way.

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What has gone right: Nothing. If youre looking for a silver lining, Lindor has produced a solid .820 OPS in June.

What has gone wrong: The shortstop is off his projected paces in every fantasy category, especially batting average (.219).

What the advanced stats say: Lindor has shown strong plate discipline, keeping his career-long trend of low strikeout rates and producing an improved 10.2 percent walk rate. But the good news ends there, as the Mets star is producing diminished rates of hard contact and line drives.

What Statcast says: According to Statcast, Lindor has produced a career-worst .238 xBA. However, his .325 xwOBA is only slightly worse than his marks in previous seasons. Lindors average exit velocity (90.4 mph) and barrel rate (6.4 percent) are slightly better than his career norms.

The final verdict: Im interested in trading for Lindor in most situations. He was one of baseballs most consistent producers before 2021 and remains at a peak age (27). His effective June is likely a sign of things to come, especially since his batted-ball luck (,270 BABIP) hasnt been stellar this month. I wish Lindor owned a higher hard contact rate, but Im still willing to take a chance on him.

What has gone right: Lowe is on pace for roughly 30 homers, 160 R+RBI, and should approach double digits in steals.

What has gone wrong: The 26-year-old has been especially inconsistent en route to posting a lowly .203 batting average.

What the advanced stats say: Lowe has experienced a year-over-year jump of six percent in his strikeout rate. And when he does make contact, the Rays slugger is producing line drives and hard contact at lower rates than in previous seasons. But the biggest problem with Lowe lies in his splits the left-handed hitter has been solid against right-handers (.865 OPS) but completely inept (.435 OPS) against same-sided hurlers.

What Statcast says: Lowe is down a bit in average exit velocity and barrel rate, but that barrel rate is still stronger than that of most players. His lowly .226 xBA is in line with his career marks, which suggests that fantasy managers were overly optimistic in expecting a solid batting average.

The final verdict: As is the case with Suarez, I would consider acquiring Lowe only in situations where I needed a power-only player. However, the platoon splits with the 26-year-old are a major deterrent, as a lack of consistent playing time caps his ceiling. I would rather acquire Suarez than expect Lowe to earn back an everyday role. Overall, Im saying no to Lowe.

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Will these three frustrating hitters turn their fantasy baseball fortunes around? - Yahoo Sports

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe

Monday, June 28, 2021

Does anyone remember the word quiescent?

Its an economic catchphrase popularized by Alan Greenspan, the former Federal Reserve chairman who presided over an impressive run of strong growth and stable inflation.

During his lengthy tenure, the central banking minence grise invoked quiescent to describe stable prices mostly attributed to a mix of technology, high productivity and globalization in the face of comparatively strong growth. He was also notoriously hawkish on wage-driven inflation (his broadsides against minimum wage hikes earned him the enmity of left-leaning economists).

With price pressures percolating everywhere, one wonders what the now-nonagenarian must think about the current economy and Fed policy, particularly in light of an acute worker shortage thats prompting employers to hike wages.

On Friday, some data shed light on a dynamic that could complicate the Feds delicate act of navigating the Scylla of a scarred labor market, and the Charybdis of rising prices. Namely, workers are (finally) reaping bigger paychecks.

Mays personal consumption figures were largely in-line with expectations, but showed wages and salaries posting another consecutive month of gains. Separately, the University of Michigan's Consumer Sentiment Index dipped in June, but 32% of survey respondents in the top third income bracket saw their pay rise and a small number expect to earn even more in the year ahead.

Workers have seen an uninterrupted string of higher paychecks over the last year, albeit some months leaner than others.

A defining characteristic of the post-pandemic labor market is that workers have, to some extent, recouped lost bargaining power. For better or worse, workers are holding out for fatter paychecks, demanding more flexible work arrangements or just quitting their jobs altogether.

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Previously, the worker did not have that ability to command higher wages ... because we didn't have much in the way of broader inflation, Kevin Flanagan, head of fixed income strategy at WisdomTree, explained to Yahoo Finance in a recent interview.

Now were looking at a broader swath of when consumers have to pay more [and] now you can see the changing dynamic of workers trying to command higher wages, he said. And thats the concern: If you start throwing wages into this mix, then the Fed will have an inflation problem.

On one hand, higher pay is welcome news to cash-strapped workers. For years, stagnant wages amplified the searing debate over wage inequality, and were mostly responsible for eroding support for globalization and free trade two of Greenspan's economic shibboleths.

Yet as Harvard economist N. Gregory Mankiw once pointed out: When expected inflation is high, workers demand larger wage increases. Employers acquiesce, expecting that they can pass higher costs on to consumers. As a result, high expected inflation leads to rapid cost escalation, which in turn leads to high actual inflation.

The coiled spring of pent-up demand is sending prices everywhere on a tear (even wings and chicken sandwiches haven't been spared). With ample evidence suggesting that companies are hiking prices as the economy booms, consumers are literally eating higher wages and supply costs. Theres simply no telling when or how it will end.

All of which suggests the Feds gambit is flying in the face of the anti-inflation doctrine inculcated by Paul Volcker, Greenspans predecessor and the man credited with slaying the dragon of double-digit inflation. Fast forward several decades, and some Wall Street economists are calling out the Fed for being asleep at the wheel on soaring prices.

The Fed maintains that their policy is somehow creating jobs, but higher prices are a tax on the wages of job holders and a heavy price to pay for everybody, veteran market analyst Chris Rupkey wrote last week.

The two-handed Fed stimulus giveth and taketh away. The good news is you have a job, the bad news is your paycheck doesnt buy a darn thing, he added.

To sum it up, inflation is quiescent no longer. At some point, Fed Chair Jerome Powell will need to muster his inner Volcker in an attempt to unleash the animal spirits of the economy while restraining the beast of inflation.

But as any casual Game of Thrones watcher knows, unless your last name is Targaryen, you should never attempt to tame a dragon. It usually doesnt end well.

By Javier David, an editor for Yahoo Finance, is filling in for Myles Udland, who will return tomorrow. Follow him on Twitter: @Teflongeek

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Every WNBA team has met the threshold for being considered fully vaccinated as 99% of the league's players are fully vaccinated, the WNBA announced on Monday.

It is yet another example of the league and its players leading the way since the number is the highest of any reported for the major professional leagues in the U.S. so far. It is in line with the WNBA Players Association's focus on public health this season through its social justice council.

Reigning MVP and Las Vegas Aces forward A'ja Wilson high-fives fans. Nearly all of the league's players are fully vaccinated. (Ethan Miller/Getty Images)

There have been zero positive COVID-19 tests of new players, the league reported, in addition to the vaccination numbers. They are much higher than any other major pro league at the moment.

A reported 65% of NFL players have received at least one shot. Three teams have reportedly reached 85% overall vaccination. NBA commissioner Adam Silver said in April more than 70% of players received at least one shot. No team had revealed its roster to be at least 85% vaccinated, which would loosen league protocols.

The MLB commissioner's office and players' association said last week 23 teams have reached the 85 percent vaccination rate and that 85.4% of tier 1 and tier 2 individuals are fully vaccinated. There are no clear available numbers for the NHL or NWSL.

There have been positive COVID-19 tests in the NBA, NHL and MLB over the past weeks.

While at IMG Academy last summer for the bubble season, there were zero positive COVID-19 tests. There were seven positive tests during the initial quarantine period upon arrival to Florida in July.

Public health is one of the WNBPA's three social justice pillars to focus on this season alongside LGBTQ+ advocacy and racial justice/voting rights, executive director Terri Jackson told Yahoo Sports last week.

Teams and arenas have hosted vaccine clinics in the first six weeks of the season and players such as Sue Bird have volunteered at vaccination clinics. Players on the WNBPA's leadership team also led a Q&A with doctors on their Instagram Live last spring.

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Around the same time, the league's biggest stars filmed a COVID-19 vaccine PSA that went live in April titled "Our Health is Worth a 'Shot.'"

Layshia Clarendon, A'ja Wilson, Nneka Ogwumike and Elizabeth Williams urge Black women to make sure they receive the vaccine because of underlying conditions that make Black women twice as likely to die of COVID-19.

Their support of getting the vaccine was important because of hesitancy in the Black community ahead of its release. While there are people of all demographics inclined to put off receiving the vaccine, institutional racism and historical inequities in health care also play a key role in the Black community.

Nearly 70% of WNBA players are Black and nearly 25% are Latina.

As of Friday, 56% of the 18-and-older population is fully vaccinated, the New York Times reported. Overall in the 40 states that report racial/ethnic data, the percent of white people receiving at least one COVID-19 dose (46%) is approximately 1.4 times higher than that of Black people (33%) and approximately 1.2 times higher than Hispanic people (38%), per the Kaiser Family Foundation.

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There are no tax hikes in the bipartisan infrastructure bill President Biden negotiated with some key senators last week. But tax hikes are probably coming all the same.

Biden is engaged in political jujitsu with a handful of Senate Republicans who want to get credit for supporting an infrastructure deal without appearing to enable other Democratic priorities. Biden threw them off balance on June 24 by linking the bipartisan bill to a second, Democratic-only measure likely to contain dozens of programs Republicans would never agree to. Biden basically said hed sign both, or neither. That made Republicans look like dupes, and they squealed, risking support for the bipartisan bill.

A few days later Biden blinked, saying hes not linking the two bills, after all. That gave Republicans cover to recommit to the bipartisan bill. Yet everybody in Washington knows Democrats still plan to do exactly what Biden outlined on June 24: Pass a bipartisan infrastructure bill with at least 10 Republican senators, to overcome a filibuster, then use the Senate reconciliation process to pass another bill with all the goodies Republicans wont vote for.

Its that second reconciliation bill that will contain the tax hikes Biden wants to impose on businesses and the wealthy. Overall, Biden is calling for nearly $4 trillion in additional spending on social welfare, infrastructure, green energy and many other priorities. The bipartisan bill would include about $1.2 trillion in new spending, more than $2 trillion short of Bidens goal. So the partisan reconciliation bill could target $2 trillion or so in spending, and more if progressives like Sen. Bernie Sanders get their way.

That bill will also include tax hikes to pay for some or most of the new spending. Three tax hikes seem especially likely. The first is a business tax hike. Biden wants to raise the corporate tax rate from 21% to 28%, but a few Democrats say 28% is too high. Sen. Joe Manchin of West Virginiathe key swing vote among Democratssays he could live with a 25% rate. Thats the informal target for Democrats, now.

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President Joe Biden and first lady Jill Biden step off Marine One on the South Lawn of the White House, Sunday, June 27, 2021, in Washington. The Bidens are returning from a weekend at Camp David. (AP Photo/Patrick Semansky)

Biden also wants to raise the top individual income tax rate from 37% to 39.6%, which was the rate before Republicans cut it in 2017. That would only affect Americans earning more than $510,000, and its popular with voters. Democrats shouldnt have a hard time doing that.

Third is the capital-gains tax rate. Biden wants to raise it from a top rate of 20% to 39.6% for people earning more than $1 million per year. Some Democrats think that is too high, which means there probably arent enough votes for that to squeak past very narrow Democratic majorities in both houses. But handicappers think a compromise of around 28% is possible. We continue to think the odds favor a $1-$2 trillion package passing through reconciliation that modestly increases taxes on capital, corporation and high earners, analyst Isaac Boltansky of Compass Point Trading & Research explained in a June 28 research note.

There are other tax hikes in Bidens plans that might be tougher for Democrats to pass on their own. A minimum corporate tax rate of 15% on about 50 huge companies would assure none of them wriggle out of taxes completely in any given year, but that would also undermine other elements of the tax code meant to encourage innovation. That could prompt enough disagreement among Democrats to scuttle the idea.

Biden also wants to eliminate a tax break in the estate tax for the wealthy. Republicans will wail about how this will affect family farms (whether true or not) and Democrats might drop it. There are a few tax breaks for real-estate investors and private-equity firms that Biden wants to repeal, but they wouldnt raise a lot of money and may not be worth the fight.

Sen. Bill Cassidy, R-La., and Sen, Joe Manchin, D-W.Va., talk after President Joe Biden, with a bipartisan group of senators, spoke outside the White House in Washington, Thursday June 24, 2021. Biden invited members of the group of 21 Republican and Democratic senators to discuss the infrastructure plan. (AP Photo/Jacquelyn Martin)

A few other tax changes could sneak into the Democrats reconciliation bill, such as the green-energy incentives Sen. Ron Wyden (D., Ore.) has proposed. Wyden would repeal 40-odd tax breaks that affect energy producers and replace them with three tax breaks rewarding producers for generating energy thats cleaner than average.

One of Bidens biggest fundraising proposals is more funding for the Internal Revenue Service, to help collect some of the $500 billion or more that tax evaders owe each year, but dont pay. Thats included in the bipartisan bill, however, as perhaps the only way to raise a meaningful amount of revenue without new taxes. So it wont be available for the Democrats bill, which is likely in the fall.

The stock market rose modestly on June 24, when Biden announced the infrastructure bill, without any tax hikes. That was a cheer for new spending that might boost corporate profits, without taking anything away on the tax side. Thats only half the story, however, and markets may need to adjust for the other half, which is a core part of the Democrats plans, no matter how Biden characterizes it.

Rick Newman is the author of four books, including "Rebounders: How Winners Pivot from Setback to Success. Follow him on Twitter: @rickjnewman. You can also send confidential tips, and click here to get Ricks stories by email.

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