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.
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
What is a Eurodollar University mem...
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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Twitter: https://twitter.com/JeffSnider_EDU
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...
Germany’s Auto Industry Just Collapsed
Germany’s auto production absolutely crashed, falling by almost 20% in just a single month. This becomes the latest stark warning about the direction of the global economy coming from the car business. And that report on production was corroborated by Mercedes, BMW, Porsche, Ferrari, all of them reporting results and forecasts this week that have sent their stocks plunging.
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 na...
URGENT: Global Central Banks Are Panic Cutting Rates… Is America Next?
Another major central bank panicked today into a 50 bps rate cut, just as markets have been predicting. Not only that, officials at that bank said they’re ready for more as ultra-low rates are back within reach already. The Pringles can is far from empty even though central banks around the world would like you to believe they are in a good place. On the contrary, rate cuts really are like pringles – once central bankers start they’re finding everywhere they can’t stop.
Eurodollar University's Money & Macro Analysis
This is all exactly why Eurodollar...
Repo Fails Are SKYROCKETING (Something Big Is Happening)
Repo fails have jumped to more than $320 billion as of the final full week in September, the highest since the very start of January. More importantly, the timing. While there are technical reasons for rising fails, they have been increasing since the first week in August, right when the July payroll report came out. There’s also been substantial selling of foreign reserve assets, an enormous amount which likewise is timed to the release of payroll estimates.
Eurodollar University's Money & Macro Analysis
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This is all exactly why Eurodollar University is holding a web...
Oil Just Confirmed What Everyone’s Been Afraid Of
OPEC this past weekend agreed to raise production into a falling market, putting it on the edge of confirming a major worldwide downturn. This is why, despite the crude cartel not increasing supply as much as feared, oil prices didn’t really react. There are far greater problems plaguing the energy markets, including tightening dollar conditions which go right along with this major market warning.
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 you...
The Shadow Credit Crisis That Could Shock the World
These recent bankruptcies have garnered close attention from the marketplace because they represent the very real possibility serious cracks have already weakened credit markets...to the point even the stock market (part of it, anyway) is taking a hard look. Ally, Bread Financial, Affirm, even Capital One, they've all see their stocks plummet. There's more here than it seems because of all the noise about share indexes and their own record highs. Everyone has ignored job losses, until now that is.
Eurodollar University conversation w/Steve Van Metre
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This is all exactly why E...
Walmart, Target, and Amazon Are Quietly Preparing for Something Big
Like Amazon, now Walmart and Target are holding similar “fall” savings events promising to offer big savings. All three of them know the consumer economy is in deep trouble, thus the overemphasis on savings. But it’s not just what these retailers are doing for customers, it’s what they aren’t doing for workers. According to a range of sources, including the retailers themselves, they are not hiring.
Eurodollar University's Money & Macro Analysis
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Billions Are Pouring Into Switzerland…Here’s the Terrifying Reason Why
Money from around the world continues to pour into Swiss bond markets, driving yields there down below zero and keeping them that way. Because Switzerland remains a key global money center in the eurodollar world, this kind of heightened demand for safety is directly related to rising worries about the rest of the world. Moreover, the Swiss curve is an indication of what we should expect from global rates moving forward.
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...
The Warning Signs Are Terrifying…And Oil Just Confirmed It
This week has seen one oil company after another announce major layoffs. The oil curve is within sight of flipping and wholesale gasoline prices are only a penny above their lowest since 2021. Why? The answer was all over ADP's private payroll report for September.
Eurodollar University's Money & Macro Analysis
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This Job Report Just Flipped the ENTIRE Jobs Narrative Upside Down
The latest report on jobs changes everything. The hiring rate in August dropped to its lowest level since April of 2020. April 2020. It’s another clear sign that the labor market is visiting Dr. Beveridge and right in time for Amazon Prime Days which begin a week from now. Consumer confidence fell sharply here for September in even more new data, with workers reporting they also feel job availability is at a multi-year low, so it’s not just in the high level data, this thing is also making waves on the ground.
Eurodollar University's Money & Macro Analysis
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This is THE Economic Canary in the Coal Mine
What is going on in the auto world? First, Tricolor goes bankrupt. Then parts supplier First Brands follows them. CarMax reports dismal earnings. Even Germany's Bosch decided to lay off another 13,000 workers. It's not just a canary in the coal mine, there's a whole flock - or fleet - of them.
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, but instead of sitting idle, it earns...
Wall St Insider Just Predicted a Trillion-Dollar AI Time Bomb
Companies are throwing trillions of dollars chasing the latest fad at the worst possible time. Even hedge fund insiders are sounding alarms over the collision between macro reverse and bubble building mania. Bigger than the dot-coms.
Eurodollar University's conversation w/Steve Van Metre
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Sign up for our webinar on the Hidden Truth Behind Interest Rates:
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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.
...
The Subprime Auto Crisis No One’s Talking About
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Sign up for our webinar on the Hidden Truth Behind Interest Rates:
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Everyone has been abuzz about Tricolor's bankruptcy. The subprime auto...
The Dollar Just BROKE Another Currency (The Next Stage Is Here)
The dollar is starting to move more aggressively, driving higher and crossing key thresholds in a whole host of currency exchanges. Not only that, this current “strengthening” is highly synchronized. Both of those factors, the synchronization and breaching multiple ranges, are beginning to more strongly point to the next stage in this ongoing cycle.
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, but instead of sitting i...
WTF Just Happened to the Banking System?!
There are growing concerns - and a growing pile of evidence and reports - indicating the *shadow* banking system is suppressing potential losses for no legitimate reason. Here we examine where they are coming from and what the latest data shows.
Eurodollar University's Money & Macro Analysis
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Sign up for our webinar on the Hidden Truth Behind Interest Rates:
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Eurodollar University Memberships: What is a Eurodollar University membership? It’s where understanding the monetary world isn’t a mystery—it's a method.
If yo...
