This is the RAW data from a Canon 20D with the camera set manually to sunny f/16, on one of the sunniest days in a long time. It's a view of the MetLife building, Grand Central Station, and the Chrysler building on 42nd Street in NYC. The MetLife and Chrysler are directly sunlit, at least in part. The data is linear, meaning that 0 in the JPEG represents the blackpoint of the RAW data (120, in this case), and 255 represents 4095. So, the data represents linear light values of 0 to 3975. The 20D clips the RAW data for its JPEGs at about 2400 in the green channel (the 10D at about 2100). This image is not color-balanced, and represents color as the sensor sees it (cyan-tint).
The only areas of the image even close to the RAW clipping point are direct reflections of the sun, off of windows on the MetLife, and specular highlights from the Chrysler's polished metal top. The matte areas never register more than about 16 to 25% luminosity, depending on the channel.