US Congress finally confirms more stimulus. Higher markets to follow?

Yesterday, we got the news that the United States Congress (the equivalent to our federal parliament) has finally agreed on the deal for a new round of coronavirus stimulus spending. It’s the first major coronavirus relief since the almost-US$2 trillion initial package was passed back in March.

Reporting from the Australian Financial Review (AFR) yesterday tells us that the bill will pass into law very shortly, pending the signature of outgoing President Donald Trump. The measures contained in the stimulus bill include a temporary (lasting 10 weeks) US$300 weekly payment to supplement unemployment benefits. As well as US$600 stimulus cheque payments that will go to “most Americans”.

The payments will go to all who earn…