C++ 2016 locale imbue inlining bug

Here is a cut down demo for a bug I found with C++ 2016. The program dies at runtime at the stream.imbue call. If the E function is not marked inline it works fine.

// Intel C++ 2016 locale imbue bug demo
// Compiled with:
// icl /Qstd=c++11 /Wall /Od imbue.cc

#include <cstddef>
#include <iomanip>
#include <iostream>
#include <sstream>
#include <string>

inline // Works without inline
std::string
E( double const t, std::size_t w )
{
   std::cout << "E.1"<< std::endl; ////////////
   static auto np( new std::num_put< char > );
   static std::locale const loc( std::locale(), np );
   std::ostringstream stream;
   std::cout << "E.2"<< std::endl; ////////////
   stream.imbue( loc );
   std::cout << "E.3"<< std::endl; ////////////
   stream << std::showpoint << std::setw( w ) << t;
   return stream.str();
}

int
main()
{
   std::cout << E( 0.01, 24ul ) << std::endl;
}