Oliver Mangan: As stock markets soar, others are less convinced about the Covid-19 rebound

Last week’s US employment report for June saw a higher than expected 4.8 million rebound.

Stock markets continue to be underpinned by the run of good data from economies emerging from the great lockdown imposed to contain the spread of Covid-19. The economic figures have generally come in ahead of expectations across the board, most notably in regard to retail spending, the labour market, consumer confidence and activity surveys.

Last week’s US employment report for June saw a higher than expected 4.8 million rebound in non-farm jobs and a bigger than forecast fall in the unemployment rate, to around 11%.