ONLY CHARTS
www.antipodeanmacro.com
1. The number of temporary visa holders in Australia (excluding ~400k visitor visa holders) in February was nearly 2.4m…
2. …with student visa holders accounting for ~700k of those.
3. The number of student visas actually granted by Australia, however, continued to decline in February. Nonetheless, offshore visa grants had only returned to around the pre-COVID level.
4. The share of student visa applications actually approved by Australian authorities is falling amid a crackdown.
5. Melbourne Institute’s Inflation Gauge points to fairly strong headline and trimmed mean inflation in the March quarter which are quite close to our bottom-up forecasts recently published here:
6. This macro backdrop has been a boon for risk assets.
7. According to SQM, listings of homes for sale in Sydney and Melbourne continued to rise over March…
8. …which may be weighing on housing price growth in those cities
9. Payroll jobs growth in New Zealand has strengthened in early 2024 but remains below growth in the working age population.
10. Payrolls data suggest that average wages growth in New Zealand remained strong in March.
