Manly are already making moves to fill the huge boots of Daly Cherry-Evans when he finishes up at the end of the year ...

The other key risk is that the gloomy macro climate persists for longer. Morgan Stanley's economics team is projecting just 3.6% nominal GDP growth in China this year, as well as 0.9% inflation.

The opposition leader is set to deliver his budget reply speech tonight, and the issue of salmon farming has dominated a particularly gross Senate question time.

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