Tue 9 Jun 2026 at 8:59amTue 9 Jun 2026 at 8:59amBoomer v Zoomer: different for allBy Daniel ZifferOn that ABS General Social Survey data I wrote about, there's more great breakdown in the data.It shows the decline in life satisfaction is not evenly distributed across age groups. Some are seeing it more sharply.Those aged 25–34 recorded the lowest life satisfaction at 6.8, down from 7.5 in 2019, representing the largest fall of any group. Here's urban economist Terry Rawnsley of KPMG Australia (from a part of the consulting firm not linked to the current scandals in its audit division):“The decline in life satisfaction among 25–34-year-olds reflects the reality of Australia’s housing market. This is a group facing high rents or large mortgages at the same time as real incomes have gone backwards.” Of Australians aged between 45–54 , there was also a lower life satisfaction score (6.9). “The ‘sandwich’ generation are starting to feel significant financial pressures caring for both ageing parents and trying to support their children whose ability to generate their own wealth has flatlined.” Meanwhile younger Australians aged 15-24 have seen a bounce back in life satisfaction from 6.9 during the pandemic to 7.2 today. (Surely at least a little bit linked to the whole 'being able to leave the house' thing).Life Satisfaction by Age GroupAge Group 2014 2019 2020 2025 15-24 7.7 7.7 6.9 7.225-34 7.77.57.16.835-44 7.57.37.17.045-54 7.47.37.16.955-64 7.57.76.97.165 years and over 8.17.77.87.7Source: ABS General Social Survey (2025)Tue 9 Jun 2026 at 8:51amTue 9 Jun 2026 at 8:51amWere you more satisfied in 2020?By Daniel ZifferResearch says yes.This question has been vexing me since the ABS dropped the "life satisfaction" data.Asking 13,000 households to rate their satisfaction on a scale of 1 to 10, the data shows that people were more satisfied in 2020 than at the end of 2025 (before the Middle East fuel crisis and three interest rate rises).Got to think there's a straight line here to shifts in voting intentions that are showing up in the polls at the moment.Let me know what you think.Tue 9 Jun 2026 at 8:35amTue 9 Jun 2026 at 8:35amConfusion reigns on ratesBy Daniel ZifferGreat piece from Ian Verrender about the direction of interest rates."Even the economists are at odds with each other."Commonwealth Bank's team has now officially declared the end of the rate-hiking cycle with two cuts scheduled for next year, while ANZ reckons the RBA is done and will sit on its hands for a while."At the other end of the scale, Westpac is betting on two more rate increases, with NAB tipping one."It's rare to see such a huge divergence in opinion when it comes to something as fundamental as interest rates."Check it out here:Tue 9 Jun 2026 at 8:21amTue 9 Jun 2026 at 8:21amOil prices settle $1 higher after Iran and Israel say they have halted attacksBy Daniel ZifferOil prices settled $1 higher after rising more than 5% earlier in the session on Monday as Iran and Israel said they had halted attacks on each other following an appeal from US President Donald Trump.Arathy Somasekhar of Reuters has this summary of all of the movements overnight.Israeli strikes on Iran followed strikes on Beirut on SundayIran on Sunday retaliated with missile attacks on IsraelIran plans to collect Hormuz transit fees, ambassador quoted as sayingAnalysts say impact of OPEC+ output hike agreement is limited Tehran, however, said it would resume strikes if Israel continued to hit Hezbollah in Lebanon. Brent crude futures closed $US1.16, or 1.3%, higher at $94.25 a barrel, while U.S. West Texas Intermediate crude futures were up 76 cents, or 0.8%, at $91.30.Brent has risen around 31% since the eve of the conflict just over 100 days ago, while WTI has risen around 37%. Brent in April touched a peak above $126 a barrel. Prices gained more than 5% earlier on Monday after renewed Israeli strikes on Iran and attacks on Lebanon had reduced hopes of an imminent end to the wider war. Israel hit a petrochemical plant in southwestern Iran that it said was used to produce ballistic missiles, and Iran's Islamic Revolutionary Guard Corps said the country retaliated with a strike aimed at a similar Israeli facility in the city of Haifa.The exchange followed Israeli strikes on strongholds of Iran-backed Hezbollah in Beirut over the weekend. Tehran has repeatedly said any deal with Washington to end the conflict must include a halt to Israel's campaign in Lebanon."Crude futures are trading higher this morning in a nervous trade as Iran and Israel traded missile attacks over the weekend," said Dennis Kissler, senior vice president ​of trading at BOK Financial. Trump demands haltTrump on Monday demanded that Israel and Iran "immediately stop 'shooting.'"Because of the strikes, investors were concerned that flows through the Strait of Hormuz might remain restricted for longer, UBS analyst Giovanni Staunovo said. Roughly a fifth of the world’s daily supply of oil and liquefied natural gas passed through the Strait of Hormuz off Iran before U.S.-Israeli airstrikes at the end of February unleashed the latest escalation of the Middle Eastern conflict.On Monday, Iran’s ambassador to Moscow was quoted as saying that the strait would be open but under conditions to be set by Iran and Oman, including a transit fee. The commander of Iran's Revolutionary Guards' Quds Force, Esmail Qaani, said a new security belt will be established from the Strait of Hormuz to the Bab El-Mandeb Strait, off Yemen, and from the Gulf to the Red Sea, according to comments carried by state media."For markets, the best near-term outcome remains a 'skinny' deal that decouples Strait disruption and active strikes from the underlying sources of disagreement, buying time without resolving them," said Erik Meyersson with SEB Research.Yemen's Iran-aligned Houthis said on Monday they would ban ships linked to Israel from the Red Sea after Israel renewed its military attacks on Iran, adding to concerns about global shipping and energy flows.Key EventTue 9 Jun 2026 at 8:13amTue 9 Jun 2026 at 8:13amOpenAI files for US IPO after AnthropicBy Stephanie ChalmersChatGPT-maker OpenAI confidentially filed for a US initial public offering on Monday (US time), joining rival Anthropic in a push toward the stock market as investors seek exposure to the artificial intelligence boom.OpenAI did not disclose the size or terms of the offering, and said a timeline had not yet ​been determined."It may be a while because there are things we want to do that are likely easier as a private company," it said ‌in a statement.Reuters had reported that the AI giant was targeting a valuation of up to $US1 trillion ($1.4 trillion) in a stock market debut that could come as early as September.At that valuation, OpenAI would set the stage for a trio of trillion-dollar valuation companies debuting rapidly and is seen as the most consequential test of investor appetite for high-growth technology stocks in the recent decade.Elon Musk's SpaceX was the first off ​the block, filing for an IPO that would rank as the largest in history if completed, with the company pursuing a $US75 billion offering at a $US1.75 trillion ​valuation.On prediction markets, where traders wager on the outcome of future events, most participants had expected OpenAI to file for an IPO ⁠before Anthropic.ReutersTue 9 Jun 2026 at 7:44amTue 9 Jun 2026 at 7:44amWait, is that even a start?By Daniel ZifferCan we have started the business blog without a GIF of a mascot falling over?I think not.