Business

On Monday, the Riksbank said it would “instantly intervene” in the FX market in the event ongoing krona strength ends up imperiling Sweden’s inflation target.

Despite the blustering propaganda from CNBC's Phil LeBeau, it appears the Auto-sales (and massive inventory build) party is over in America. December US domestic auto sales SAAR printed 13.46 mm - the lowest in 6 months (missing expectations of 14.15mm by the most since November 2008). With non-revolving credit growth slowing in December, and inventories at record highs, the wheels just fell off the credit-fueled auto 'recovery'.

Car sales just tumbled:

This is the worst second-half of a year since 2008...

WTI Crude prices just broke back to a $35 handle for the first time since mid-December as the combination of un-growth, Saudi price cuts, a rancorous OPEC, and production increases weigh on the world's most important commodity. At the same time, oil producers are getting hit with the Canadian Dollar plunging above 1.4000 to its lowest since 2003...

And FX producers are getting battered...

Submitted by Frank Shostak via The Mises Institute,

On Wednesday December 16, 2015, Federal Reserve Bank policymakers raised the federal funds rate target by 0.25 percent to 0.5 percent for the first time since December 2008. There is the possibility that the target could be lifted gradually to 1.25 percent by December next year.

Brave New World of Bank Bail-Ins As Of January 1st

On January 1st, 2016, the new bail-in regime became law putting at risk the deposits of savers and companies in the EU.