Global stock markets have rebounded after the US and UK governments made fresh assurances over the stability of the banking sector following a string of bank failures. US stock markets opened higher after Treasury secretary Janet Yellen signalled the Government would protect people’s deposits if another bank were to collapse. The S&P 500 was trading about 1% higher and Dow Jones trailing closely behind at 0.9% in early Tuesday trading. In the UK, the FTSE 100 had bounced by more than 1.9%, driven up by gains for top bank shares which had suffered a sell-off in recent days. NatWest had surged to the top of the blue-chip index with its share price jumping by 7%. Barclays was close behind with shares up 6%, while Standard Chartered and Lloyds were also trading higher. Ms Yellen is expected to say that overall “the situation is stabilising, and the US banking system remains sound” at a speech for the American Bankers Association on Tuesday. The remarks follow the collapse of Silicon Valley Bank and Signature Bank earlier this month. The failures were triggered by depositors rushing to withdraw money amid anxiety over the bank’s health, known as a “bank run”. And last week,...