Recovering global demand pushes Chinese factory activity to expand at its fastest rate in three months. On the other side of the Pacific, U.S. markets are jittery as the 10-year yield reaches a 14-month high and the fallout from the Archegos collapse continues. JPMorgan warns that the banking sector could be hit for up to $10bn as a result. President Biden is set to outline his multi-trillion-dollar infrastructure programme. The plan is already facing pushback over fears of a corporate tax raid to foot the bill. In vaccine news, there has been a fresh setback for Astrazeneca after Germany limited use of its vaccine to over 60-year-olds only over renewed safety fears. And Deliveroo begins conditional trading on the London Stock Exchange. Despite pricing at the lower end of its range, the food delivery titan’s listing is the LSE’s largest in a decade.  

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