MARKET OPEN: A better mood on Wall Street may spur some local buying
Improving sentiment on Wall Street could spill over into the domestic equities market, particularly as investors digest the massive stimulus announced in yesterday’s budget. Wall Street was in positive territory despite dire data, ongoing US-China tensions, downbeat comments f...
BUDGET 2020: Bond issuance jumps $50b June 2021
The government will now borrow an extra $50 billion in the June 2021 fiscal year to mitigate the hit from the covid-19 pandemic. The impact of covid-19 on the Crown’s fiscal outlook is “unprecedented” and requires a substantial increase to the forecast borrowing programme rela...
BUDGET 2020: Debt set to soar as govt looks to recover and rebuild
Net core Crown debt is tipped to hit more than 50 percent of gross domestic product over the next five years as the government expects to pump more than $60 billion into mitigating covid-19. By way of comparison, net core Crown debt was 19 percent in the year to June 2019....
BUDGET 2020: Targeted funding to help beleaguered tourism sector
Budget 2020 includes a $400 million targeted tourism recovery fund as the sector struggles to survive the fallout from covid-19. The package “will go over and above the government’s broad-based support of businesses and workers and reflects the importance of tourism to Aotearo...
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