Uppsala is Sweden’s fourth largest city with around 150,000 people.
That means more migrants entered the country last year than there are people in Uppsala. On a per capita basis, Sweden lets in more refugees than any other country in the EU. At 20,000 asylum applications per million people, the rate is twice that of Germany.
To sum up: China car sales crash by most on record (boom goes the overseas growth meme), US existing home sales plunge most in 6 years (boom goes the domestic housing strength supporting consumption meme), Williams and Lockhart go full hawk-tard (positing April as "live" and suggesting everything is hawkishly awesome), and one of our most succeesful 'innovative' tech firms unveils the worst product launch ever... and investors buy stocks with both hands and feet...
The Pentagon have announced plans to build a new £200 million spy center in the UK this week, which will act as the U.S. military headquarters for all military data in Europe and Africa. The Joint Intelligence Analysis Center will be located at RAF Croughton, and will become the headquarters for all European and African military communications, staffing 1,250 people and analysing intelligence from over 50 countries.
Last week, when looking at the latest fund flow data, we noted an unexpected finding: as BofA itself said, "clients don’t believe the rally, continue to sell US stocks" and added that the "smart money" has now sold stocks in the face of this bear market rally for a near record seven consecutive weeks."
It is a quiet start to the week: in the US we have the Chicago Fed’s National Activity index (CFNAI) numbers for February (0.25 expected; 0.28 prior) which missed badly as noted earlier, printing negative after a sharp upward revision to the January number, as well as the latest existing home sales data (5.31mn expected) momentarily.