The Local
Richard Orange
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Country cabins, like this one in the Stockholm archipelago, soared in price in 2020. Photo: Janerik Henriksson/TT
Richard Orange
09:30 CET
Even a pandemic was not enough to stop rising property prices in Sweden last year, but can the increases continue? Here s what some of the experts say.
What kept property prices high in Sweden in 2020? You might think that a crisis that pushed unemployment to a 23-year high, with half a million people out of work, would depress property prices. But the property market in Sweden boomed in 2020. According to the property industry s own price reporting service, Svensk Mäklarstatistik, the total sale value of all the apartments and houses in Sweden rose 14 percent in 2020 to 510 billion Swedish kronor (approximately $60.8 billion).
Analysis
As a result of the ongoing uptrend, many prominent institutions from the realm of traditional finance have sought to join the crypto bandwagon so as to not miss out on the ongoing action. For starters, a jump in open interest and trading volume for Bitcoin futures has been witnessed across the board over the course of the last couple of months. While that may have been expected, what may come as a surprise is that the Chicago Mercantile Exchange, a global derivatives exchange, recently became the world’s largest Bitcoin futures trading platform.
In this regard, data released by crypto analytics platform Bybt indicates that CME accounts for $2.4 billion of the $13 billion overall open interest in Bitcoin futures, closely followed by crypto exchange OKEx’s total of $2.17 billion and ahead of other prominent players such as Binance, Huobi and Bybit.
Dagens: Investigation against Swedbank, SEB and Danske on money laundering ongoing in US baltic-course.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from baltic-course.com Daily Mail and Mail on Sunday newspapers.
Investigation against Swedbank, SEB and Danske Bank on money laundering ongoing in US - daily 2020-12-15 LETA/BLOOMBERG/TBT Staff
STOCKHOLM - SEB, Swedbank and Danske Bank are being investigated by three federal authorities in the US, namely the Justice Department, the Federal Bureau of Investigation and a federal prosecutor’s office in New York, Swedish business daily Dagens Industri reported without saying where it got the information.
The investigations appear to include alleged fraud, as well as money laundering, the Swedish newspaper said, citing unnamed sources.
The Swedish Ministry of Justice received a formal request for legal aid from the US Department of Justice th.
FBI Reportedly Investigating SEB, Swedbank, Danske Bank; Shares Tank
Bloomberg 12/15/2020 Charles Daly, Frances Schwartzkopff and Anton Wilen
(Bloomberg) Shares in SEB AB, Swedbank AB and Danske Bank A/S plunged on Tuesday after one of Sweden’s biggest newspapers said the Federal Bureau of Investigation was probing allegations of money laundering and fraud.
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Swedbank fell as much as 9.6%, SEB lost 7.6% and Danske dropped 4.2%, driving the three to the bottom of the Bloomberg index of European financial stocks.
The selloff followed a report in the Dagens Industri newspaper, which alleged that the banks are being investigated by three federal authorities in the U.S., namely the Justice Department, the FBI and a federal prosecutor’s office in New York. The newspaper didn’t say where it got the information.