NZX Surges| ASX up on RBA & Budget, Rio Tinto Global markets were mixed overnight, as a three-day surge in US stocks stalled. Oil prices hit their highest of 2019, with Brent crude approaching $US70 a barrel, on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut. Closer to home, the NZ market continues to surge, with the NZX at a record high and close to the 10,000 index level. The ASX also traded higher for the 6th day in a row, as investors digested a Reserve Bank decision as well as the Federal Budget on “Super Tuesday” which we discuss below.   Stock in Focus: Rio Tinto (RIO:ASX) RIO shares have rallied over +20% this year, following a surge in the iron ore price. Iron Ore is currently trading at near four-year highs after a mining disaster in Brazil cost 60 lives, with expectations that supply could be restricted following strong new regulations and a crack-down on current practices. RIO also announced another solid result for the 2018 fi...