| The G-7's vaccine pledge falls short. Investors await a key Fed meeting. Bitcoin's whipsawed yet again. Here's what you need to know to start your day. Biden's G-7 ResetThe Group of Seven summit wrapped up with the final communique committing 1 billion more doses of vaccines for poor countries, backing the U.S.-led calls for a probe of the pandemic's origins and pressing China on human rights. But a closer look at the vaccine goal shows the bloc has pledged only 613 million new doses, including some funded partly by previously announced aid. The final document also failed to finalize a timeline to ditch gasoline-powered cars, after an earlier proposal to make zero-emission vehicles the majority of new passenger auto sales by 2030. Overall, Biden notched the summit as a win, with other G-7 leaders visibly relieved to have a return to a more predictable and traditional U.S. administration. France's Emmanuel Macron welcomed him back to the "club." Muted MarketsAsian stocks look set for a muted start to the week as investors prepare for a key Federal Reserve meeting. Futures were little changed in Japan. Trading volumes are expected to be light with a number of holidays in the region including in Australia, China and Hong Kong. U.S. futures were steady after stocks staged a late rally Friday, closing at another record after a choppy day of trading. Ten-year Treasury yields inched up to around 1.45% after hitting three-month lows on Thursday, but still notched their biggest weekly slide since December. Netanyahu's Fall From PowerBenjamin Netanyahu's 12-year run as prime minister ended as Israel's parliament voted 60 to 59, with one abstention, to replace him with Jewish nationalist Naftali Bennett. For the indicted Netanyahu, the vote marks a brutal fall from power that leaves him even more legally imperiled. He's at trial on corruption charges, which he denies. Out of office, he no longer has the option of seeking to pass legislation shielding a sitting leader from prosecution. Elon Whipsaws BitcoinBitcoin is on the move again, this time jumping above $39,000 Sunday afternoon in New York after Elon Musk said Tesla would resume transactions using the cryptocurrency when it's greener. In a tweet, he mentioned a threshold of "confirmation of reasonable (~50%) clean energy usage by miners with positive future trend." Musk also reiterated the electric-car maker had sold about 10% of its Bitcoin holdings to demonstrate the token's liquidity. Apple's Post-Mask FutureApple plans to drop its mask requirement for vaccinated customers at many U.S. stores beginning next week, sources say. Retail workers will still need to wear masks, and they've been told they won't have to ask customers for vaccine verification. The requirement for face coverings will also be dropped at some of Apple's corporate offices in the U.S., according to a memo. What We've Been ReadingThis is what's caught our eye over the past 24 hours: And finally, here's what Cormac's interested in todayOften overlooked by investors, global consumer staples shares look to be attempting to break out from a long period of underperformance. An MSCI gauge of the sector is back testing its post-pandemic downtrend against the global stock index, a break of which would open up the door for further upside. The cohort hit a 13-year relative low in March and has been consolidating since. Well-known as a defensive sector, staples stocks have suffered in comparison to their consumer discretionary peers, which analysts expect will benefit more from a splurge of any excess savings when economies fully reopen.  But with question marks over peak global growth and some analysts suggesting we are in a shorter-than-usual cycle, increased staples exposure might be prudent. Bank of America noted "furious" short covering in staples last month in its fund-manager survey — a good sign that at least some investors think the period of underperformance is over. With other financial market havens doing well recently, from Treasuries to gold, it might be time for staples to do the same in the stock market. Cormac Mullen is a cross-asset reporter and editor for Bloomberg News in Tokyo. | 
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