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Why traders in this $36trn market are certain of a recession

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That’s a wrap

Andrew Hobbs

That’s the end of our live coverage of everything you need to know on Sunday, a day dominated by the election of Chris Minns and Labor in NSW after 12 years in opposition.

Many thanks for following along.

Here’s how the day unfolded:

– Pay rises for frontline workers is Minns’ first priority Improving frontline worker pay and conditions is Chris Minns’ top priority during his first few days holding power in NSW, as well as changing the state’s constitution to rule out the privatisation of Sydney Water for good.

– Bowen says federal Labor strength helped win NSW Climate Change Minister Chris Bowen has put a NSW state election result down in part to the federal Labor government’s success at winning over voters since forming government in 2022.

– The promises Minns must deliver on Chris Minns, who just won the NSW election, wooed voters with pledges to bring down toll and energy bills, to scrap a public sector wage cap and to invest $1 billion in energy storage across the state.

– ‘This is not a landslide’: Henskens makes Liberal case Alister Henskens, tipped to be a contender to replace Dominic Perrottet as NSW Liberal leader, says the next parliament in NSW will be very tight, saying governing won’t be easy for Labor’s Chris Minns.

– Solicitor-General supports wording of Voice amendment: Dreyfus The Solicitor-General’s advice supports the wording of the proposed amendment to the Constitution for the referendum on the Indigenous Voice to Parliament, Attorney-General Mark Dreyfus says.

– Salary growth for lawyers, consultants is slowing: Seek Advertised salaries for occupations such as lawyers, consultants and marketing jobs is slowing, new findings from Seek show.

– Why traders in this $36 trillion market are certain of a recession Bond investors are piling into wagers that a US recession is around the corner amid a growing dissonance between how markets and the Federal Reserve see the outlook for the economy.

– Bids for Manchester United top $9b as Qataris sweeten offer Sheikh Jassim Bin Hamad Al Thani, the son of Qatar’s former prime minister, has submitted an improved bid to buy Premier League club Manchester United, people familiar with the matter told Reuters on Saturday.

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    Original URL: https://www.afr.com/politics/federal/perrottet-stands-down-as-liberal-leader-20230326-p5cv9l