Agree, if anything this should help with the Painchek business model as interest rate increases, margins get squeezed and costs minimisation becomes the centre focus of businesses/govt and this I think where the business can position itself.
But higher risk free rates generally means lower valuation of all risk assets, interesting times ahead. Coupled with tightening labour data, inflation data.. but this is topic for another day!
Ann: Quarterly Update and Appendix 4C, page-42
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