In a few hours, at 10am GMT, Sweden - which was dragged into the monetary twilight zone of negative interest rates back in February 2015, not long after the SNB and ECB both went NIRP - is about to wave goodbye to the land of negative rates, if only for a little while.
China is also facing a potentially destabilizing "liquidity hole" of 2.8 trillion yuan ($400 billion) in January according to Guotai Junan Securities, as people across the nation will withdraw cash for the Lunar New Year holiday
The government keeps telling us that the labor market is strong and unemployment is low. Yet, as SHTFplan.com's Mac Slavo notes, regardless, borrowers are increasingly being rejected for vehicle loans while consumer debt continues to rise.
"This administration, with wondering about where the hell the next bomb is coming from, just doesn’t allow me to take some of the positions I’ve taken historically where I just thought it was a one-way bet"
Unlike API's data, DOE reported a crude inventory draw in the last week (though smaller than analysts expected) and gasoline inventories rose for the 6th week in a row...