Eurodollar University
Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.
Holy Sh*t… Did You See What Just Happened to India’s Currency?!
India’s rupee broke, plunging and I mean plunging Friday to a new record low and once again embarrassing the country’s central bank which had been intervening heavily for the past month. The funny thing is, there really wasn’t much of a trigger to it, at least not on the surface. The rupee continues to be a major global bellwether that often has less to do with India specifically. This once again appears to be one of those cases especially with the dollar making big moves against other important currencies, too.
Eurodollar University's Money & Macro Analysi...
Zillow Just Issued a Grim Warning to All Homeowners
Over half of American homes lost value over the last year, the highest number since...2012. More importantly, even the media is catching on that something big changed this summer in real estate. The reason why the housing market is retreating isn't interest rates. Lower mortgage costs have not sparked a turnaround in the face of all expectations they would.
Eurodollar University's Money & Macro Analysis
In a world where markets swing on every headline, focus matters. That’s why Eurodollar University offers One Big Weekly Theme — a disciplined, thematic analysis you can count on. If you don’t...
Fallen Hedge Fund Just Confirmed the Next Financial Crisis
Nvidia was a bust. Not the company’s earnings and forecasts, those were stellar. Instead, it didn’t provide the buying boost everyone thought it would. Stocks lost ground. Bitcoin continues to get hammered, down by a third in roughly six weeks. What is going on here? The answer, or answers, are coming from the cockroaches. There’s more to the Blue Owl hedge fund story. Plus, Bitcoin is correlating with what we call the triple hooks.
Eurodollar University's Money & Macro Analysis
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Holy Sh*t! Walmart Just Revealed the Dire State of the Economy
After Home Depot disappointed and Target got slammed, Walmart reported results that were above expectations because in this economic climate the Target and Home Depot’s losses are Walmart’s gains. And its strength came from all income brackets, though high-income Americans are increasingly turning to Walmart. That’s not good. But it does fit with the long-delayed payroll data that just came out, which you’ll be shocked to learn has another revision turning another monthly number negative. That makes two.
Eurodollar University's Money & Macro Analysis
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What if your gold could actually pay you e...
Home Depot Just Confirmed What NO ONE Wants to Admit About the Economy
While everyone else is glued to Nvidia, the results from Home Depot and Target will have far more to say about the markets and a lot more. Plus others like TJ Maxx, Bitcoin and the surprising Fed minutes that has a lot to say about the status of December's rate cut.
Bloomberg Wary Stock Bulls Eye Walmart, Target for Clues to Consumer Health
https://www.bloomberg.com/news/newsletters/2025-11-17/wary-stock-bulls-eye-walmart-target-for-clues-to-consumer-health?srnd=phx-economics-v2
Economic Times TGT stock falls today as Target cuts guidance and predicts weak holiday sales
https://economictimes.indiatimes.com...
A Trillion-Dollar Time Bomb Just Went Off on Wall Street
We went from the economy is strong and resilient, credit markets are fine reaching for yield to big names like Jamie Dimon and now so-called bond king Jeffrey Gundlach openly talking about cockroaches and garbage lending that are looking more like 2006 and 2007 every day. We’ve even got news of more hedge fund redemptions. Unlike a few months ago, now all of a sudden the possibilities seem plausible to people who forever refused to even consider the idea.
Eurodollar University's Money & Macro Analysis
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What if your gold could actually pay you every month… in MO...
HOLY SH*T!! Did you see what just happened in Europe
The European labor market is on the cusp of its own flat Beveridge moment. That danger was amplified by the third quarter contraction in the Swiss economy, which, as we know, is a key leading global indicator. And if all that wasn’t enough, a group of German Economists, of all people, just tore into the mainstream European narrative of Europe being in a good place. They even went so far as correctly, of course, crap all over the Berlin bazooka.
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New Chinese Data Reveals The Unthinkable
An unprecedented slump in Chinese investment. That’s what one media outlet called it. I don’t think slump is the right word. Crash might be a more appropriate one. While that tends to be overused, the numbers show not in this case. Especially when they are backed up by a crash in household lending in China, too, as Chinese banks just put up more grim stats. And all of this confirmation of what I told you months ago, the something big has changed over there this summer.
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Holy Sh*t...Did You See What Just Happened In The Market!?
Big moves across the risk markets this week. Bitcoin and crypto hammered. Repo back on the menu. WTI full contango (briefly). Plus, top officials at the New York Fed soft confirming the start of the next not-QE QE. What does it all mean?
Eurodollar University's conversation w/Steve Van Metre
What is a Eurodollar University membership? It’s where understanding the monetary world isn’t a mystery—it's a method. If you’re serious about your financial education and want clarity in a world of volatility and massive uncertainty, you’re in the right place. Mainstream...
BREAKING: Verizon Firing 15% of Workers!! (What You Must Know)
Flat Beveridge strikes again. You know the drill. We’ve been stuck in forgot how to grow and its no-hire/no-fire labor market the past few years. That began to change last year, especially last summer when no-hiring somehow got to be even less hiring. Then last year and this year, no-firing became some firing, in other words, shifting to the flat part of the Beveridge curve. But what we’ve been getting more recently looks to be an escalation in firing. Verizon just announced it may be cutting 15% of its 100,000 strong workforce.
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BREAKING: MORE Private Credit Losses Just Hit
The collapse and bankruptcy of another private credit supported firm has generated significant losses this week. But as I pointed out last week with the shuttered UBS sponsored hedge funds, it isn’t necessarily the amount of money being burned. It’s what each of these cockroaches reveals, and how they add to the growing mistrust about the entire private credit shadow banking network. That’s the real danger which could threaten to unravel a whole lot more than a few troubled firms.
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Wendy's Just Sent a HUGE Warning About The Economy
Fast food chain Wendy's said it’s closing hundreds more US locations than previously announced because customers can’t afford to eat there. It fits with what McDonalds US President said last week about how the entire industry is fighting for contracting traffic. It sounds practically Chinese talking about oversupply of cheap hamburgers and chicken nuggets. But as we know only too well from China’s economy, it isn’t too much production it is the lack of demand.
Eurodollar University's Money & Macro Analysis
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This Is What Governments Do Right Before It All Falls Apart
The federal government may be opening back up but the administration floating a tariff dividend is the real news here. It’s yet another dose of reality showing the stock market is not that reality. Americans are struggling and the timing behind this dividend is transparently in response to worsening economic conditions. After all, more Americans say they think unemployment is coming than at any time since 1980.
Eurodollar University's Money & Macro Analysis
In a world where markets swing on every headline, focus matters. That’s why Eurodollar University offers One Big Weekly Theme — a disciplined, themat...
The CarMax Collapse Exposes What’s Coming for the Entire Credit System
CarMax sacked their CEO after preannouncing just brutal results for an industry already reeling and at the epicenter of the current ongoing breakdown in credit markets. The stock plunged 25% Thursday when management disclosed unit sales are looking to crash by 8 to 12% in the latest quarter. Relatedly, consumer confidence plunged to record and near-record lows...and it has little to do with the govt shutdown.
Eurodollar University's conversation w/Steve Van Metre
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What if your gold could actually pay you every month… in MORE gold?
That’s exactly what Monetary Metals does. You still...
A Trillion-Dollar Time Bomb Just Went Off on Wall Street
UBS is reportedly closing down not one but two hedge funds, in a more that raises a lot of questions but also some very uncomfortable parallels to 2007. One of those funds is exposed to First Brands, so understandable. The other...isn't. And that raises the prospect of the R-word; in this case, that does not stand for recession, rather its uglier monetary twin.
Bloomberg UBS Winds Down O’Connor Funds in Sign of First Brands Strain
https://www.bloomberg.com/news/articles/2025-11-06/ubs-to-wind-down-o-connor-funds-with-first-brands-exposure
NYT $3.2 Billion Move by Bear Stearns to Rescue Fund
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America’s Job Market Just Broke (Worse Than 2008)
The most October job cuts in over twenty years. More than October 2008, if you’re keeping score. While that doesn’t mean this is a repeat of 2008, can we all finally admit this is a really serious situation? And as the flat Beveridge curve emerges more clearly, the rising unemployment it represents is also causing collateral damage, pun intended. The New York Fed said yesterday auto, credit card and student loan delinquencies hit levels, well you’ll have to see.
Eurodollar University's Money & Macro Analysis
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What if your gold could actually pay you every m...
The Dollar is SKYROCKETING, Here’s What You Must Know
The dollar is accelerating and not in the direction most people were anticipating, to the point it has rattled the entire cryptocurrency space. That’s why cryptocurrencies like Bitcoin just got hit with a major selloff this week as the dollar debasement theme which had driven their latest surge comes up completely empty. More important than that, however, the dollar is accelerating higher which signals quite a lot all its own. But what? You can see how this gets confusing with all this unnatural noise.
Eurodollar University's Money & Macro Analysis
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Target Just Issued a Very Grim Warning About Consumer Behavior
Not only is retail giant Target not committing to the big seasonal hiring it always does, the company is actually laying off nearly 2000 of its corporate staff in its biggest management and job shakeup in years. Target is merely the latest “one-off” big name to announce job cuts. No wonder consumer confidence just took another huge hit and that was from the one survey that has held up the best this year.
Eurodollar University's Money & Macro Analysis
What is a Eurodollar University membership? It’s where understanding the monetary world isn’t a mystery—it's a method. I...
This Is What "Always" Happens Before Every Financial Crisis
The cash squeeze in wholesale money markets that we’ve been following got a whole more exciting on Friday, and now we have the full set of numbers on it. Interest rates soared the most since 2020 further proving the Federal Reserve’s program which is supposed to keep this from happening doesn’t keep it from happening. Imagine my shock. We also know that there were plenty of spare reserves available, too. And with more borrowing from the Fed again this morning so far, we have to consider the question whether this ongoing and escalating tightness is pointing to someth...
You Won’t Believe What Europe’s Central Bank Just Did
The ECB this week held its policy rate right at 2% with policymakers out in force claiming to everyone who might listen they’re likely done at that level. Instead, GDP data from all over the continent just came out and showed there’s more pringles yet to come from Europe. But there’s also one big factor here few people are considering and it has to do with the 2% level itself.
Eurodollar University's Money & Macro Analysis
In a world where markets swing on every headline, focus matters. That’s why Eurodollar University offers One Big Weekly Th...
The Largest Asset Class in the World Just COLLAPSED
New home sales in China collapsed by 42% in October when compared to last October, representing more than just another setback for the beleaguered Chinese real estate market, the world’s largest asset class. This is a major problem for Chinese banks, not that they were expecting different. So, we see interest rates are back to moving lower, setting multi-month lows with the latest short-lived stretch of optimism based on Chinese tech stocks being burst yet again by the reality stocks are not real life.
Eurodollar University's Money & Macro Analysis
What is a Eurodollar University membership? It’...
BREAKING: Fed Repo Usage EXPLODES to Banking Crisis Levels
The Consumer Recession Is Already Here (Chipotle Just Confirmed It)
The reason why Fed Chair Jay Powell didn’t want to commit to a December rate cut is simple. A number of voting members at the FOMC are not convinced the weak labor market is actually all that weak. Sure, the numbers don’t look good, but they’re wonder if it is real. Well, Chipotle and Kraft-Heinz would like to answer them with a pair of serious warnings about what they’re seeing from consumers.
Eurodollar University's Money & Macro Analysis
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What if your gold could actually pay you every month… in MORE gold?
Th...
BREAKING: The Repo Facility BLEW UP After Fed Meeting (What You MUST Know)
FOMC will cut rates today but what will officials say, or do, about the growing repo mess? Find out as we react to the Fed's decisions and Powell's press statements.
Eurodollar University’s Money and Macro Analysis
BREAKING: Amazon Is Firing 30,000 Employees!! Here's What You Must Know
Amazon announced today it will be cutting 14,000 corporate jobs, though leaker reports say the real number will be roughly 30,000 over time. The company itself says it needs to be more nimble to leverage AI technology when the timing and the target instead shows macroeconomic headwinds are behind the move. There is a reason why consumers believe the US economy is in recession right now. While layoffs like Amazon’s remain relatively scarce, unemployment is piling up all over the place and so does the confirmation.
Eurodollar University's Money & Macro Analysis
What is a Eurodollar University mem...
The Fed is Losing Control of Repo Markets (Again)
Another day, another significant borrowing from the Federal Reserve’s repo facility. This has become a regular occurrence and concurrent with a rise in money market rates due to the cash squeeze I told you about yesterday, there’s a lot of similarities to 2019 and it’s got the Fed on track to not just cut rates this week also possibly terminate the balance sheet runoff – even if Steve doesn’t quite agree.
Eurodollar University's Money & Macro Analysis
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What if your gold could actually pay you every month… in MORE gold?
That’s exactly what...
You Won’t Believe How Bad the Cash Shortage Just Got
The ongoing cash squeeze in money markets is very likely to bring an end to the Federal Reserve’s balance sheet runoff, known as QT. When the FOMC meets this coming week, officials are almost certainly going to cut rates given the perilous situation in labor. But with financial firms still using the Fed’s repo facility and especially as benchmark money rates stay elevated, the second item on the list of decisions is going to be ending QT.
Eurodollar University's Money & Macro Analysis
In a world where markets swing on every headline, focus matters. That’...
The Global Currency Crisis No One Is Talking About
The dollar is making another big move higher to the point it is causing governments and central banks around the world to respond and even intervene to keep their own currencies from crashing against it. Fears over the global economic downturn are driving monetary tightness and demand for safety at the expense of those at the forefront of the broad decline.
Eurodollar University's Money & Macro Analysis
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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 insur...
HOLY SH*T! More Subprime Lenders Just Collapsed (Something BIG Is Happening)
We have a couple more names to add to our fast-growing list of shadow banking casualties. And, yes, collateral is once again the common theme. One of them is of course in subprime auto financing, but that’s just another canary in the credit coalmine. The other has been accused of fabricating half a billion of collateral invoices. Half a billion. Fake collateral.
Eurodollar University's Money & Macro Analysis
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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...
BREAKING: Gold Price Is TANKING (What You Need To Know)
After a truly epic run, precious metals are now getting pounded. Both gold and silver are down the past few days for a couple of reasons, not that this is a surprise. In fact, I told you just six days ago this was the most likely short run path for the metals. So, what’s driving the selloff and does it change the long run outlook for either?
Eurodollar University's Money & Macro Analysis
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What if your gold could actually pay you every month… in MORE gold?
That’s exactly what Monetary Metals does. Y...
The Repo Market Just Triggered the Next Round of QE
There was action yet again at the Fed’s repo window today. A few more billion borrowed. But that’s now the fourth time over the last five trading days. These are more signs of tightening monetary conditions and if this does continue it will lead to the next QE from the Fed. The word that keeps coming up the past few months is escalation.
Eurodollar University's Money & Macro Analysis
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You Won’t Believe What Just Happened to Chinese Banks
Why is copper-to-gold so ugly and thoroughly deflationary? What's happening right now inside China is one key part of it. After a small artificial rebound earlier this - where have we heard that before - Chinese bank lending has fallen even more sharply this summer adding yet another layer to the tremendous deceleration we keep seeing across China this summer. Retail sales fell yet again and investment is crashing.
Eurodollar University's Money & Macro Analysis
In a world where markets swing on every headline, focus matters. That’s why Eurodollar University offers One Big Weekly Theme — a dis...
Oil Just Entered Super Contango. That’s Bad. Really Bad.
Even I am surprised at how quickly this has escalated. We got a big-time warning from the oil market earlier in the week. Whenever we see these things show up, usually there’s a little back and forth, in and out, the thing starts out as a little blip and stays that way for awhile. Then, maybe, you get a bigger move much later on. Not this time. The oil curve blew way past all of that in just a few days.
Eurodollar University's Money & Macro Analysis
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What if your gold could actually pa...
BREAKING: Banks Are COLLAPSING... Again
Two US regional banks rocked the markets with more potential loan losses tied to private credit and shadow banks. But it is NOT really about them or the scale of those defaults; they are relatively tiny. It's what continues to be uncovered, the common COLLATERAL thread in every single one so far. Combined with a very precarious macroeconomic and monetary background, it's explosive.
They are encompassed by the secrets behind the financial and monetary signals we continue to highlight and expose here at EDU. Watch our most recent webinar replay to start seeing the truth hiding in p...
WTF Is Happening to Silver Right Now?! (You Won’t Believe This)
Silver has gone absolutely vertical, even more than gold has. There is an historic squeeze going on in the silver market, centered in London. It started out driven by gold but the whole thing has been upended by imbalances in supply and the locations from where demand is coming from. How far can silver go? What’s really going on with it? And what should we expect next? Why does the matter for a whole lot more than the precious metals market?
Eurodollar University's Money & Macro Analysis
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The secrets behind these and other fin...
Jamie Dimon Just Said the Quiet Part Out Loud…
With one quote, JP Morgan’s CEO Jamie Dimon created a mini-firestorm even if in this case, anyway, he was just saying what everyone is thinking. On JPMs earnings call yesterday, Dimon reportedly said, “I probably shouldn’t say this but when you see one cockroach there are probably more” in relation to the bankruptcies that have popped up recently.
Eurodollar University's Money & Macro Analysis
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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...
BREAKING: Oil Curve Just Flipped (This Always Ends Badly)
A big signal we - and the whole market - have been waiting for was triggered. Better still, there is no ambiguity with this one. The oil curve has flipped for the first time in years in what is a very clear downturn signal. They call it a supply glut when there is no mistaking it's all about demand.
WARNING: Something Just Broke in the Financial System
It’s not just the $2.3 billion that allegedly simply vanished; it’s how and maybe most important of all, why. Second guessing collateral this way does not end well. Especially since this does not appear to be a one-off case of embezzlement and outright theft, rather a relatively large company which made some bad choices pressured into doing so by the economy and given the opportunity by less than ideal protections and security.
Eurodollar University's Money & Macro Analysis
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What if your gold could actually pay you every month… in MORE gold?
That’s exactly...
BREAKING: Credit Markets Just Broke (Again)
Crytpo saw its biggest liquidations in history Friday when Trade Wars 2.2 flared up. Commodities were also pounded, bonds bigtime bid, even stocks sent significantly lower. Tariffs aren't really the issue here, either, as a confluence of negatives have been sapping sentiment for the past few weeks.
Eurodollar University's Money & Macro Analysis
This is all exactly why Eurodollar University is holding a webinar on Tuesday October 14, at 6pm ET. To help you begin to unlearn the garbage that Economics has taught you and the financial media keeps repeating day after day after day. We’re going to...
The Fed JUST Confirmed the U.S. Housing Bust Has Begun
The growing macro bust in housing has become serious enough even the Fed is letting the public know officials are talking about it. I keep telling you that when central bankers see it too, you know it isn’t good. The Federal Reserve’s policymaking body, the FOMC, released the minutes of its meeting last month, the one where policymakers decided to dip back into the Pringles can with a single twenty five-bp rate cut.
Eurodollar University's Money & Macro Analysis
This is all exactly why Eurodollar University is holding a webinar on Tuesday October 14, at 6pm ET...
