Upbeat markets banking on massive US stimulus; kiwi jumps

By Rebecca Howard | Fri, 27 Mar 2020


The prospect of a US$2.2 trillion coronavirus relief bill continues to cheer investors overseas, driving a sharp lift in the kiwi dollar and putting the local market on track to rise for a fourth straight day. The US senate overwhelmingly approved the relief bill as covid-19 cases in the US continue to mount. It now goes before the House of Representatives, where it is also expected to pass with bipartisan support. There are now 75,233 reported cases in the US although a Reuters/Ipsos poll indicates that number is probably significantly high...