Eurodollar University
Jeff Snider hosts this podcast about monetary science, focusing on the eurodollar system and its impact on global finance. Each week, multiple episodes cover major news, current events, and market signals, explaining what they reveal about the economy. The show also provides historical context and deeper background material to help listeners understand the complexities of the financial world.
Episodes
OpenAI's Money Problem Is WAY Worse Than You Think
Thank you to Mint Mobile for partnering with us on this video! If you like your money, Mint Mobile is for you. Shop plans starting at $15 per month by visiting https://mintmobile.yt.link/hBAMtwsDisclaimer: Upfront payment of $45 for 3-month 5 gigabyte plan required (equivalent to $15/mo.). New customer offer for first 3 months only, then full-price plan options available. Taxes & fees
Iron Is Warning Us About What's Coming in 2027
Everyone is looking in the wrong place for clues about the economy. Investors are poring over every last detail of artificial intelligence—data centers, semiconductor shipments, electricity demand, and the supposedly limitless need for copper.But copper is increasingly distorted. Its price may tell us something about the economy of the distant future, at most supply problems in the presen
This Is What Consumers 'Always' Do Before a Recession
American consumers just did two things that you might think are completely incompatible.In August, they cut revolving credit at the same time, consumers added a huge amount of non-revolving credit. So households backed away from credit cards while splurging on installment debt. How can consumers be terrified of borrowing and eager to borrow at exactly the same time?Because these aren’t co
Oil CEOs Just Issued a Really Grim Warning
Learn how to spot the next major economic shift—and position your portfolio for it: https://go.eurodollar-university.com/oct8-fu9uThe world’s most powerful oil insiders are issuing an unusually direct warning about energy stocks. It might sound like a warning that gas stations are about to run dry, 1979-style. But that isn’t necessarily what happens, or what the greatest concern really is
Jamie Dimon Just Made A Shocking Interest Rate Prediction (Not What You Think)
Jamie Dimon just issued another warning about interest rates. JPMorgan's CEO says there is a risk inflation remains sticky—and that interest rates go up from here. That sounds like caution about staying away from Treasury bonds. But Jamie Dimon’s prediction isn’t necessarily what you think.Because, right now, the bond market may be approaching a turning point and Dimon's comments fit righ
Private Credit Investors Want Their Money Back… And It’s Getting Worse
Blue Owl is still getting hit with enormous redemption requests—even as the private-credit giant continues to insist that the underlying loans remain resilient. When investors repeatedly ask for their money back denials just doesn’t work. Just look at the stock prices of some of these publicly traded credit funds, no one believes the industry’s spin any longer. Because Blue Owl isn’t the
BREAKING: The Jobs Report Worse Than Everyone Expected
Jobs report for September completely reverses August's. The ugly headline is only the start given the vastly more important implications which connect jobs to incomes and then everything else from the Fed, bond yields and the inflation debate, which the data shows isn't one. But why do officials hold out anyway? The numbers answer that question, too. Eurodollar University's Money & Ma
WTF Just Happened to the Bond Market and Credit Spreads?
Credit spreads have exploded in recent weeks, and not just the triple hooks. It has spread to other parts of the public market. And now that September has finished up, we might finally get more fundamental trading in USTs. Part (much?) of the recent selloff has been, well, three September effects. I'll explain what those are/were and what that might mean. It did for Oct 1.Eurodollar Unive
You Won’t Believe What McDonald’s Just Revealed About U.S. Consumers
You would think this would be McDonald’s moment. When household budgets are under pressure, when consumers are trading down, and when price suddenly means everything, McDonald’s should be thriving. It's not. This isn’t happening in isolation. Consumer confidence plunged – and I mean plunged - in September to its lowest level since 2014—and that’s according to the Conference Board, typical
ALERT: Did Anthropic Just Pop AI Bubble?
A leaked S-1 that filled in a lot of missing pieces. Maybe, for Anthropic and the AI bubble, too much. The upshot is...this time is never different. Plus, we really have to hope this sucker pops soon. Letting this thing go much longer risks much more than stocks. Eurodollar University's Money & Macro Analysis-----------------------------------------------------------------------------
Pepsi and Red Bull Just Confirmed the Worst-Case Scenario for the Economy
Just months after PepsiCo slashed prices by as much as 15% to win back cash-strapped shoppers, the company is preparing to **raise** them again. The cuts were supposed to revive demand after prices for some bags of chips climbed above seven dollars. But they didn’t work. In July, the company admitted consumers were under even more strain than expected.Now Pepsi is trapped. And Pepsi isn’t
Something Extremely Rare Just Happened to the Yield Curve
The Treasury market is doing something it has only done on 5.4% of the time over the last 36-plus years. In broad terms, the yield curve is unusually steep at the front and unusually flat at the back. Put those two together and it makes this rare combination, which means it is telling us something very important but also very specific. Eurodollar University's Money & Macro Analysis---
BREAKING: India Just Intervened to Save Its Currency
India just attracted an extraordinary amount of foreign money into its banking system. And yet the rupee is moving back toward its record low. Then there’s Japan. The Bank of Japan just raised its policy rate to the highest since 1995. And yet the yen is approaching 160 per dollar again.So India attracted dollars and the rupee still fell. Japan raised rates and the yen still fell.Meanwhil
You Won’t Believe What the Bond Market Just Did
If you follow the financial headlines, you probably think investors are preparing to dump Treasuries and head for the inflationary hawkish hills. The Federal Reserve just raised rates, and officials definitely want to do it again.And yes, one part of the Treasury market is pricing exactly that. But the market as a whole is doing something very different.Eurodollar University's Money &
Mexico’s Tourism Just PLUNGED... and Airlines Are Warning of More
Demand destruction is simply becoming impossible to ignore—and it’s appearing across the global economy at exactly the wrong moment. Just look at Mexico. And what airlines are doing. Or S&P 500's consumer discretionary stocks. Housing...Eurodollar University's conversation w/Steve Van Metre----------------------------------------------------------------------------------What if your g
WTF Just Happened to Diesel...
We need to begin seriously considering what would happen if diesel reaches eight, nine, or even ten dollars per gallon. That is not a prediction. It is not clickbait, nor is it fearmongering. This is scenario planning - because it's getting real. Eurodollar University's Money & Macro Analysis----------------------------------------------------------------------------------What if your
BREAKING: Private Credit Defaults Just Hit a Record High
Private credit defaults have officially reached a record. According to Fitch Ratings, the default rate rose to 6.3% in August, exceeding the previous record set only one month earlier. But the most important number may not be 6.3%. It may be Fitch's 45%. And that reveals the bigger story, one about liquidity and tightening. Eurodollar University's Money & Macro Analysis---------------
LIVE: Will the Fed Really Raise Rates Into a Struggling Economy
It's FOMC decision day. The data says do nothing. Flat curves say mistake. The inflation data doesn't say what hawks think it does. Do policymakers send a message and Trichet themselves? What about the dots? Where do rates go?
German Banks Are Getting Bailed Out… WTF Is Going On?
A relatively small German cooperative bank is receiving a financial rescue, a bail out, worth as much. The bank, Volksbank Brawo, had €6.5 billion in total assets at the end of last year. It's support package is equivalent to roughly one-ninth of the entire bank. But Brawo isn’t alone. Volksbank Kleverland recently applied for support after reviewing its loan portfolio. WTF is going on in
Grocery Stores Just Issued a Warning About the American Consumer
Americans overwhelmingly don’t just disagree with this idea of a resilient economy, they vehemently disagree. And Kroger may have just delivered one of the clearest warning signs yet. The American people have spoken: with their grocery carts, just as a start. Eurodollar University's conversation w/Steve Van Metre-----------------------------------------------------------------------------
this won't end well...
There is only one way this ends, and it's not the one everyone right now believes. That's not (just) my take. This is the majority consensus (not that you've heard it) which gets more evidence by the day. Today's CPI, yesterday's PPI, oil, 2s, bills, spreads, RBOB, etc...Eurodollar University's Money & Macro Analysis---------------------------------------------------------------Want t
Americans Are Bracing for Something Not Seen Since 2020...
More Americans now believe unemployment will rise than at any point since April 2020. Not inflation. Unemployment. And that’s according to, yes, the Federal Reserve. At the same time, consumers believe that if they lose a job, finding another one quickly will be nearly impossible. That fear is already showing up in what households are already doing - and how rates are really being priced.
BREAKING: Blue Owl Just Took a 100% Loss, Signaling A LOT More Stress Ahead
One hundred to Zero. That’s Blue Owl writing down a private loan from full value to something resembling nothing—in a matter of months. That is not supposed to happen. Together with a global migration of debt searching, these show a credit cycle that keeps going deeper in reverse. Eurodollar University's Money & Macro Analysis-----------------------------------------------------------
BREAKING: China Is Bailing Out Its ENTIRE Financial System
The Great Chinese Tobacco Insurance Rescue of 2026. The real issue is why cigarettes are being "volunteered" and why insurance is being including with the banks. Recapping the escalating recap plan and what it says about the current and future state of the CCP's state. Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnide
Eurodollar Talk: The AI Trade Is Entering Its Most Dangerous Phase | Lyn Alden
Eurodollar Talk: Record Corporate Profits Are Creating An Economic Timebomb
EPB is here.
Eurodollar Talk: Wall Street Is Preparing for the Next Financial Shock | George Gammon Explains
Eurodollar Talk: The AI Bubble Is Following a 180-Year-Old Playbook
Ben Brey Substack https://www.capitalmisallocation.com/and X https://x.com/BenBrey?s=20Subscribe for new interviews every week!
Eurodollar Talk: BlackRock Insider Reveals What’s REALLY Happening in Private Credit
If you want to see The Four Economic Regimes, and How to Position Your Portfolio for Each One, sign up here👇 https://eurodollar.university
Eurodollar Talk: Real Estate Insider “Banks Are Now Dumping Buildings At 80 Cents On The Dollar!”
Join us and 50+ world-class investors and entrepreneurs at Limitless Expo to learn how to protect and grow your wealth through the next economic cycle.
Eurodollar Talk: Iran War Could Trigger the BIGGEST Dollar Shortage in Years
Brent Johnson joins Jeff.
Eurodollar Talk: Hugh Hendry: The Biggest Trade of the Next 10 Years Has Started
Jeff Snider & Hugh Hendry.
Eurodollar Talk: You Won’t Believe What Iran War Tensions Are Doing to Gold Markets
What if your gold could actually pay you every month… in MORE gold?That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider
The Market’s Reaction to This Blowout Jobs Report Makes NO Sense
The 'big' jobs number wasn't the biggest story of Friday's markets. Instead, it was what didn't happen. Things have certainly changed where it comes to payrolls, in more ways than one. Eurodollar University's conversation w/Steve Van Metre----------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?Tha
Convenience Stores Just Issued a Warning About the American Consumer
Everyone keeps saying the American consumer is holding up. People are still shopping. Gasoline sales are hitting records. Consumer spending hasn’t collapsed. But beneath those reassuring headlines, though, we keep getting strong warning behavior is changing. Not just from conveniences stores, from construction to Uber and even, yes, the BLS.Pay more to get less. The very definition of imp
On Sh*t... Another Private Credit Fund Just Blew Up
Most people believe the private-credit mess has gone away – because that’s what you’re led to believe. It has been roughly a year since Tricolor and First Brands became the warning signs—the first cockroaches suggesting something much larger might be hiding inside the walls of private lending. And because there hasn’t been a dramatic collapse since then, the assumption is that the industr
The Diesel Crisis Nobody Is Talking About
Everyone believes the energy shock is about oil. It isn’t. The most important price in energy today isn’t really the price of crude. It is the difference between crude oil and the fuel made from it—a number known as the crack spread.And for diesel, that spread has absolutely exploded to record highs. Now what?CHAPTERS:0:00: It's Not Oil, It's Diesel1:45: Crude vs Diesel and the Refinery B
WTF Just Happened at Jackson Hole?
J-Hole jolted the markets, only to have Warsh's J-Hole narrative jolted right back with JOLTS. Caught in between are interest rates which nobody seems to have a handle on even though the answers are right there in Treasury Secretary Bessent's words and the latest European inflation. Eurodollar University's Money & Macro Analysis---------------------------------------------------------
BREAKING: China Just Launched a Desperate Housing Bailout
Is China trying to bail out it's beleaguered real estate market? That seems to be the case with the latest schemes aimed at stabilizing the sector. The timing isn't a surprise nor is the degree of help Beijing aims to offer given the state of banks and the economy over there. Eurodollar University's conversation w/Steve Van Metre------------------------------------------------------------
Japan’s $100 Billion Yen Intervention Just Failed... Now What?
Japan just spent $100 billion rescuing the yen. Not over several years. Not during some historic financial crisis. In less than one month. This wasn’t just Japan acting alone, either. But now the yen is right back down past 160 again. What does this mean...for the dollar?Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------
If You Don’t Understand the Eurodollar System, You Don’t Understand the Markets
Learn how the eurodollar system really works, and use that understanding to better prepare your portfolio for what comes nexthttps://eurodollar-university.com/home-page-self-serveThere’s a signal flashing in the financial system right now—and almost every investor is looking in the wrong place. They’re watching the Federal Reserve. They’re watching inflation reports. They’re reacting to t
The Mark Walter Scandal Could Expose Billions in Private Credit Losses
What is happening inside Mark Walter’s financial empire - which until recently included the LA Lakers - has the potential to blow the lid off the entire private credit story - if not the whole debt cycle. A billion-dollar loan connected to Guggenheim Investments is trading at roughly 73 cents on the dollar, a price normally associated with serious distress. And that's only where this craz
Grocery Stores Just Issued a Warning About the American Consumer
You may not realize it, but the grocery business is about to get into a price war. Big chains like Kroger and Aldi, along with Walmart, are setting up for to outbid each other for your food spending. That’s great news for consumers until you realize why the retailers are doing this – because of consumers. Eurodollar University's Money & Macro Analysis----------------------------------
Ray Dalio Just Issued His Most Terrifying Debt Warning Yet
Ray Dalio says the United States is approaching a debt crisis, or maybe is already in one. The government knows UST demand is becoming a problem, so the argument goes, and it is quietly trying to control the bond market with buybacks before the situation gets out of control.But what you probably don’t know is that there are ways to test Ray Dalio’s warning. We did. Eurodollar University's
Walmart Just Confirmed The WORST-CASE Scenario For The Economy
Walmart's stock got punished this week for confirming what the mainstream said was impossible. And it wasn't the only retail giant to gently sound the alarm. For all the talk of "resilience", it isn't found in these latest reports - nor the bond market.Eurodollar University's conversation w/Steve Van Metre----------------------------------------------------------------------------------Wh
Nvidia’s Hidden Debt Risk Could Crash the ENTIRE AI Bubble
The credit cycle isn't really about blue owls, instead a gray swan. Nvidia isn't just in the news for its stock trading at a tremendous discount, it's how the company and all the money surrounding connect what might seem disparate dots all throughout the system, and in so doing point to the emerging downside the mainstream is having a harder time dismissing. Eurodollar University's Money
BREAKING: The Treasury Just Announced a Massive Bond Buyback Plan
It's QE-lite!!!! Yield curve control!!!! Money printer go brrrrrr!!!! What's the truth about the Treasury buyback program? Well, it's starts with understanding what a buyback truly is and also how the government has been operating it for over two years already. In a sea of misinformation, here's the plain truth about the buybacks, starting with how misinformation is actually the whole poi
30-Year Bond Yields Are Surging... Here’s What It Means
The yield on the 30-year U.S. Treasury bond just reached its highest level since 2007. And to a lot of people, this means everything - from inflation to fiscal deficits. There’s just one problem.The 30-year bond is not actually doing what everyone says it is.Eurodollar University's Money & Macro Analysis------------------------------------------------Eurodollar University Live 2Octobe
WTF Just Happened to Retail Sales?!
Blaming Amazon's Prime Day, everyone is trying to work around yet another "unexpected" negative number. Following an "unexpected" drop in July payrolls, the Census Bureau now reports an "unexpected" drop in retail sales alongside an "unexpected" setback in consumer confidence and, yes, an "unexpected" decline in gasoline usage during peak driving season. None of this is unexpected, just t
Chinese Banks Have STOPPED Lending (here's what that means)
Record decline in Chinese bank loan flows is only where this starts. It's what China's government did in response in announcing a major financial crackdown that really matters. Combined with the latest macro data, it is all leading to another real world example exposing the fallacy of interest rates. Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitte
Something Really Strange Just Happened at the 30-Year Bond Auction
There is something going on with the long bond, that’s for sure, but what is it really? The answer is surprisingly simple, and it also explains why the last 30-year Treasury auction held this week was said to have been a mess. That was more about what everyone says than what’s happening and why. Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: ht
Japan’s Yen Intervention Just Failed...Now What?
Japan and the United States just launched one of the most dramatic currency interventions in decades. But less than two weeks later, half the yen’s gains have already disappeared. The currency is already back around 159 to the dollar, once again threatening the psychologically important 160 level. Now what?Eurodollar University's Money & Macro Analysis---------------------------------
The World’s Largest Wealth Fund Is Preparing for an AI Crash
When the person responsible for managing nearly **$2 trillion of a nation’s savings** starts discussing the possibility of losing all of it, you should probably listen. Though, deep down you already know what I’m talking about. You think everyone is long and buying the market. The truth is, people are already checking out, especially the institutional types. Eurodollar University's Money
BREAKING: The Biggest Private Mortgage Lender Just Crashed 49%!!
Yes, we are going to have to worry about mortgage debt, too. To say the nation's largest private mortgage originator had a bad week is an understatement. But what did the company's stock plunge tell us? Not subprime 2.0. Instead, a familiar tale spreads yet again.Eurodollar University's conversation w/Steve Van Metre-------------------------------------------------------------------------
BREAKING: The Job Market Just Went Negative
Shock on Wall Street as the jobs numbers stun everyone - almost everyone. It was a mess but a predictable one following the pattern we've been laying out. And it wasn't just payrolls, with critical confirmation showing up all across the household survey and unemployment. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------
You Won’t Believe What Michael Burry Just Predicted
Stocks are heading for Crash of '87 repeat? Michael Burry thinks that could be the case as the Big Short investor sees a number of parallels. One that most people wouldn't necessarily think of just reared its ugly head again. The cockroaches are back. Eurodollar University's Money & Macro Analysis----------------------------------------------------------------------------------If you
We Need to Discuss the Bond Market. Immediately.
The 30-year long bond recently hit its highest yield in nineteen years. This is a significant development, but not for the reasons anyone has heard. And we've seen this before, so the big message is how the yield got to where it is, not where it is. Eurodollar University's Money & Macro Analysis----------------------------------------------------------------------------------If you wa
Is the U.S. Secretly Bailing Out the Japanese Yen?!
Head to https://gamma.yt.link/HgbZu2P to check out GAMMA and start designing today!Reports say the US intervened in yen markets, selling euros and buying JPY. It raises several questions: Is the United States bailing out the yen? Why? Why now? Unlike currency manipulation, the answers are surprisingly easy. It's what they amount to that's hard. Eurodollar University's conversation w/Steve
ALERT: AI Credit Spreads Are Suddenly Blowing Out... Just Like 2008?
Everyone believes the AI bubble is mainly about stocks. That makes sense. The obvious historical comparison is the dot-com bubble. However, this one is all about credit unlike 1999. And that credit is now talking loudly through credit default swaps and other debt market signals. Companies like Oracle and SpaceX have seen their CDS prices surge recently, with big moves in July across all t
BREAKING: The Fed Just Made a SHOCKING Statement
Live reaction to the most uncertain FOMC meeting in years. What the markets are doing before and after. The two competing views driving the uncertainty. Any surprises in the Fed statements (YES!). Yields. Curves. TIPS. Swaps. All the relevant info. Eurodollar University's Money & Macro Analysis----------------------------------------------------------------------------------If you wan
This Could Trigger the Next Global Trade War
When people hear the words “trade war,” they usually think of one person: Donald Trump. But while everyone has been watching Washington and Beijing, another potential trade war has been developing much more quietly—and this one could be even more disruptive than most people realize. And for one of its participants, a key line has just been crossed. Eurodollar University's Money & Macr
The “Safest” Companies Are Warning the Consumer Is Breaking
There is a MAJOR dislocation across the entire marketplace you need to know about, and it starts with Nestle and French fries, not the fed funds rate. Swaps, inflation demand, curves, even oil; you name it. You think everyone agrees with the Fed or ECB about what's coming next, but the truth is the OVERWHELMING consensus is entirely different from what you're hearing. It's not even close
Is This the Beginning of an Asian Financial Crisis 2.0?
Most people believe another Asian financial crisis can’t happen. Not like 1997. Asian governments now have enormous foreign-exchange reserves. Their currencies are generally more flexible. Banks are better regulated. Officials supposedly understand contagion, currency mismatches, and the importance of acting quickly.In short, Asia learned its lesson. But what if that is the wrong lesson?E
Google Issues a Dire Warning About the “AI Boom”
Google just reported something it had never reported in its entire history as a public company: Negative quarterly free cash flow. Not a small decline, either: $5.9 billion. From Japan to Thailand, China and the United States, the boom is producing some enormous numbers. What it is NOT producing—at least for the foreseeable future—is the real story.Eurodollar University's Money & Macr
BREAKING: The Private Credit Crisis Just Reached Amazon
When people hear the words *private credit stress*, they usually imagine small, struggling companies loaded with debt—businesses most investors have never heard of. They assume the damage will remain contained among risky borrowers, private-equity deals, and obscure funds. But that misses the real warning. The changing credit environment is already affecting companies perceived to be amon
The Oil Market and Yield Curve Just Did Something Really Strange
The bond market just broke a major correlation at a particularly crucial moment. As the Warsh Fed sets out to stamp its mark on the market, the market is already stomping the narrative and doing so in a highly unusual way. UST & WTI have split up, with more than the Fed getting caught up in the burgeoning divorce. Eurodollar University's Money & Macro Analysis---------------------
The Fed Hasn’t Done This in Over 40 Years!! Here’s What You Must Know
Is Kevin Warsh about to finally put money back in the Federal Reserve? That might sound like a strange question. After all, this is the Federal Reserve. It is supposed to be the center of the monetary system. Its officials set what they call monetary policy, testify before Congress about it, and issue statements filled with the word “monetary.” Yet, for decades, the Federal Reserve’s most
The Biggest Gas vs. Oil Divergence in History (Here's What It Means)
The divergence between oil and gas prices is now historic, and one simple calculation explains everything. That calculation is at a record high, and it’s not even close. What it shows is why gas remains so expensive and is likely to stay that way for some time even though prices have fallen substantially from their wartime peak. Even though demand for oil has plummeted, and I mean plunged
India Is Begging for Dollars, and It’s a MASSIVE Warning the World
India is once again scrambling for dollars, kind of begging for them. After spending months defending the rupee, the Reserve Bank of India is now offering generous support to banks to get them to raise foreign-currency deposits. They’re being encouraged to get creative with it, everything from creating new products to using new digital channels. And, of course, the old school way of just
CPI SHOCKS the Markets as Interest Rates PLUNGE
Shocking CPI numbers for June. Plus a literal twist in the oil market which goes right along with them. ---------------------------------------If you want to see The Four Economic Regimes, and How to Position Your Portfolio for Each One, sign up here https://eurodollar-university.com/home-page----------------------------------------Eurodollar University's Money & Macro Analysishttps:/
What’s the Difference Between a Recession and a Depression?
What’s the difference between recession and depression? Most people understandably think a depression is just a really bad recession. But that’s not the case. These are in many ways two profoundly different circumstances. Think of it his way. A recession is a storm. A depression is a complete change in the climate. A recession is when the economy temporarily falls down. A depression is wh
Japan Is Trying to Stop the Yen Carry Trade… It Won’t End Well
Head to https://gamma.app/signup to check out GAMMA and start designing today!Japan may have finally figured out why the yen keeps getting crushed. And no — it’s not because some hedge fund in New York borrowed a few billion yen and YOLO’d it into U.S. Treasuries. That’s the cartoon version of the carry trade. That’s the version financial media repeats because it sounds simple: borrow che
Pepsi Gives MASSIVE Warning Of Consumer Behavior
PepsiCo just reported earnings. And buried inside a perfectly standard corporate press release was one of the most important sentences you'll hear about the American economy this year. CEO Ramon Laguarta said, and I'm quoting directly here: *"I think the consumer is worse than what we had anticipated, and it's driven mainly by gas prices."*That's not a fringe analyst. That's the chief exe
HSBC Just Issued A Dire Warning To The Entire Banking System
HSBC just did something that should make everyone in credit markets stop and ask one very uncomfortable question. If there is nothing to worry about with private credit…why is one of world’s biggest banks pulling back from funding the funds that make it work? According to reporting from the Financial Times, HSBC has told some private credit borrowers that it will not renew their credit fa
Walmart Is CUTTING Prices Because Consumers Are "Out Of Money"
Walmart is cutting prices on thousands of products, not doing the Fed’s inflation theory any favors. Coca-Cola. Pepsi. Laundry detergent. Lawn mowers. You name it. This is great news for consumers who have been hit with the gasoline shock. Here we have the biggest retailer in America lowering prices. The real story, though, is why Walmart is doing it. We’ve been warned by the markets and
Why China’s Oil Demand May Be The Biggest Macro Signal Right Now
We just got a couple major updates that are connect some more dots on what is the biggest story in the global economy, all connecting to China. The oil market has undergone a radical – and I mean radical – change over the past few weeks. It first showed up last Thursday and is still going her today. Earlier this morning, Saudi Arabia comes out with a big announcement it is cutting the ben
The Oil Market Just Signaled the Worst Possible Scenario
Today, we’re looking at one of the most intense and surprising signals coming out of global markets right now: the oil curve has gone almost perfectly flat. That may sound technical, but it is a huge development. In a normal shortage environment, especially after the kind of historic supply disruption and record backwardation we just saw, near-term oil should trade at a sustained premium.
Private Credit Just Burst The $25 Trillion AI Bubble
The private credit bust is now starting to spread into AI and the AI buildout which up to now has been mostly financed by these shadow banks. The reason for it spreading is simple – the run on the shadow banks hasn’t abated at all, with our favorite sad bird the latest to disclose laughably huge withdrawal requests. The danger for AI has always been the almost unlimited money it required
Payroll Data Just Confirmed The Worst-Case Scenario
There is no way to spin this, not that everyone won’t try. The June employment report did not just come in weak or just miss expectations. It wasn’t a little cooling after a decent stretch. No — the June jobs report strongly suggests the worst-case payback for the labor market is now unfolding.Eurodollar University's Money & Macro Analysis----------------------------------------------
You Won’t Believe What Microsoft Just Revealed About The Job Market
Thanks to Monarch for partnering with me! Start your free trial and get 50% off your first year of total money clarity using my link https://monarchmoney.yt.link/L7x80By or code euro50 for 50% Off Monarch Core tier.Microsoft just announced another round of job cuts — thousands more layoffs — and almost immediately, the internet had its explanation ready. AI. “AI is taking the jobs.” “Whi
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