One of the lesser known productivity narratives is the extraordinary gains made by the agriculture sector. While other sectors have higher output per hour worked the ag sector has clearly been able to produce what it does with more efficiency improvements.
Oh dear @Uber_Support why charge a premium for pickup at Melbourne airport when the traffic is so bad you miss your first two morning meetings @Uber ๐
Yields on 10-yr Treasuries are now the highest vs 2-yr rates since 2022. It's unclear whether this is a healthy normalization - a reversion back to the typical relationship of long-term yields being higher than short-term ones - or a sign of stickier inflation and deficit fears
'Prices aren't coming down, they're up at a higher level now, permanently, and that is going to continue to eat into people's incomes.' RBA governor tells parliament
Same in US.
This is what influenced the #USElection2024 imho
And will be the main game for Australia
RBA and Government take note. The problem with the "cost of living" narrative is it won't come down (prices fall) without a recession/hard landing. The best the RBA can achieve is slow down price rises. That is not palatable for politicians.