So much for yesterday’s prediction that the current global stockmarket recovery would not last beyond two days. Markets promptly roared ahead for the third day running.

In the US the S&P 500 and Nadasq closed 5.2 percent and 5.6 percent higher respectively. The Dow Jones Industrial Average added another 6.4 percent to bring its total gain since Monday 23 March to more than 20 percent.

And this happened on a day US unemployment claims soared to a record 3.3 million with a quarter of the country, including the states of California, Illinois and New York in lockdown.

Back in Blighty the FTSE 100, FTSE 250 a...