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.
France Just Broke their Bond Market (First Time in History)
For the first time ever, French bond spreads are higher than those seen in Italy (both compared to Germany). This isn't just about "fiscal consolidation" worries and France's government budget, the real issue behind everything is economic differentials. Those need to be turned around and soon else France risks being the new, well, Italy.
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 sitti...
BREAKING: Texas Gives MASSIVE Warning Of Consumer Behavior
The oil business is heading for a big bust, putting Texas in the crosshairs. While that's obviously not good for the economy as a whole, energy does tend to be a leading indicators and when the jobs starting being lost in the space in a big way it's a big red flag. Consumers know it, given what was also just reported from them, too.
Eurodollar University's conversations w/Steve Van Metre
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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 disci...
Oh Sh*t... Something Big Just Broke in the Eurodollar System
Since the July payroll report came out, something seems to have snapped out there in the offshore eurodollar world. Two key sources are signaling a turn toward substantial tightening. Here we go over what those signals are, how to read them in context, and what they mean going forward.
Eurodollar University's Money & Macro Analysis
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If you want to see what you've been missing - and it's A LOT - then join us at Eurodollar University. Our memberships have got you covered where it comes to mastering monetary mechanics. You won't find this anywhere e...
Something Really Weird Just Happened at a Treasury Auction
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
Yesterday's 10-year note auction produced something we've never seen before, and it totally upended everyone's expectations if not more. With the macro climate being what it is, the 10s sale was a "victim" of the incr...
New Data CONFIRMS: The Recession Started a Year Ago
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It wasn't actually the record downgrade to payrolls that stood out the most. Far more important, the QCEW confirms there is a very good chance a recession began LAST YEAR. Not just the forgot...
The Biggest Payroll Revision in U.S. History (911,000 Jobs Were Fake)
A record downward revision to payrolls adds to the evidence the US labor market is in dire shape while also heading in the wrong direction. In this video, we go over not just those details but also look ahead at the possible financial consequences should conditions continue to deteriorate in the way they appear to be. What else might be triggered by job losses in the real economy? More than a few possibilities.
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 exa...
Copper-to-Gold Ratio Hits Financial Crisis Levels: What You MUST Know
Gold keeps soaring and not because of inflation. We know this without any doubt because as copper prices remain stuck, rising bullion against it has crashed the copper-to-gold ratio down to RECORD LOWS. That isn't about expectations for a crash, instead the market is expressing rising probabilities as to the future. One in which the latest data from FRBNY on job finding expectations fits only too well.
Eurodollar University's Money & Macro Analysis
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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 dis...
The Largest Wave of Layoffs Since 2020 Has Begun
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There was one key stat from this week which helps explain the increasingly desperate state of the US labor market, offering background behind the "unexpectedly" weak payroll numbers from Friday. August's estimate was its lowest since...May 2009. Given the connection to employment, it all fits together with so many other signals including record low copper-to-gold. Yep, record low.
Eurodollar University's weekly conversation w/Steve Van Metre
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For more information on 21shares and to s...
BREAKING: Payroll Data Going Viral, Here's what you MUST Know
Payrolls were ugly, a big miss for August on top of revisions to June which pushed the monthly change negative. If that wasn't enough, a rising unemployment rate after a crash in full-time employment. Plus, a plunge in Canadian payrolls punctuate the turning point for North American jobs. Rates were down sharply, no surprise.
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Banks Are Preparing For Something BIG
It's not what everyone says, watch what they do. Big companies and big banks (JPM, too) are making heavy preparations for sharply lower interest rates. The former, in particular, have basically revived the long-dormant commercial paper market in a clear sign. At the same time, US and global banks are remaking their balance sheets in critical and unambiguous ways. Even some Fed officials are now seeing it, too. R is back to being an ultra-low STAR.
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Eurodollar University's One Big Weekly Theme
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You Won’t Believe What Dollar Tree Just Revealed About The Consumer
Dollar Tree says after seeing a major influx of especially middle-income Americans in its stores, it won't be able to raise prices. The latest jobs data leaves absolutely no doubt why that is. According to the turnover stats, the US labor market LOST jobs in June and July.
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 real yield paid...
Gold's RECORD HIGH Just Sent the CLEAREST Warning
After trading conspicuously sideways for the past four months, gold has finally broken out of its range. However, at the same time the US dollar exchange value is threatening to do the same - by moving HIGHER. It's a bad combination: rising gold, higher dollar, and falling interest rates. If any doubts remain about what's really happening, the copper-to-gold ratio leaves everyone no doubt.
Eurodollar University's Money & Macro Analysis
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Eurodollar University's One Big Weekly Theme
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Bloomberg Why Investors Can’t Seem to Get Enough of...
ALERT: China’s MEGA bubble Is a Warning To The World
Chinese stocks are heading into orbit, taking off like a rocket ever since the US and China reached an agreement to not inflict the worst of trade wars. Curiously, though, the Chinese economy has further deteriorated which means the equity surge is looking more and more like something we've seen before from Shanghai.
Eurodollar University's Money & Macro Analysis
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Eurodollar University's One Big Weekly Theme
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Bloomberg China Stocks Are Sending Warning Signs on Liquidity-Driven Rally
https://www.bloomberg.com/news/articles/2025-08-25/china-stocks-are-sending-warning-signs-on-liquidity-driven-rally<...
NEW Fed Report Says An Emergency 50bps Cut Now on the Table
Once Federal Reserve policymakers start making total sense, that's when you know. Officials are seeing the data the same way(s) we are, meaning a mess in jobs combined with an absence of any sign for tariff inflation. A big one came this week with a leading voice voicing caution and a growing possibility for that September fifty.
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 own your gold, fully insured in yo...
Canada’s Economy Just Collapsed (Worst Since 2020)
There is no escaping the Pringles can. While the Bank of Canada has been on hold with its rate cutting since March, Canadian GDP, payrolls and even the latest Canadian CPI figures leave no doubt. Plus, the globally synchronized implications will be heard in central bank deliberations worldwide.
Eurodollar University's Money & Macro Analysis
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I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form on the page I’ve linked below.
A...
BREAKING: Something BIG Just Snapped in the Bond Market
Two-year Treasury yields set a new almost-year low, falling below their prior April chaos lows. The yield curve is undergoing a profound reshaping that explains a lot more than Jay Powell's Jackson Hole performance. It also perfectly indicates what long-run interest rates are also doing as well as likely to do 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 Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle...
New Data Reveals People Have Given Up on the Economy
Consumer fears over jobs increased yet again in August, as did expectations for a recession. Relatedly, two separate sources confirmed housing prices in the US fell yet again in their latest monthly estimates. Related because the one is causing the other; fears over jobs that aren't strictly fears are reducing demand for homes and a whole lot more. Deep down, even Jay Powell knows it.
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...
BREAKING: France is About To Fall, Here's What Your MUST Know
France's government is going to collapse again in a couple weeks. While everyone was distracted by trade wars, the underlying schism in politics remained unresolved. France is between a rock and a hard place, trying to fix its budget. Here's the thing: both the rock and the hard place are the same thing.
Eurodollar University's Money and Macro Analysis
I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form on the page I’ve...
America’s Housing Market Is Breaking (Again)
Home sales are down. Prices are falling. Inventories are rising. Record number of cancelations. And this is for July, not just a prime sales month in real estate, also three months after the events April. Stocks are soaring and trade deals have been struck. Where are all the buyers?
Eurodollar University's Money & Macro Analysis
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I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form on the page I’ve linked belo...
China Has Fallen: Here's What It Means for the World
Something has changed in China. Something big. Bank lending dropped sharply, more than it has. Fixed investment suddenly crashed. Retail sales contracted in a way China hasn't experienced since 2022's lockdowns. The usual economic and financial decay has been taken up a notch, if not two. So, naturally, Chinese stocks are soaring, one final negative signal. Yes, negative.
Eurodollar University 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...
The Most Important Line Everyone Missed at Jackson Hole
There were several key points from Jay Powell's speech at Jackson Hole which everyone seems to have missed. The market picked up on them, however, with SOFR futures reacting by pushing its inversion deeper and further out, now early 2027. What Chair Powell meant under everything he said was he finally gets the big Beveridge risk.
Eurodollar University's conversation w/Steve Van Metre
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I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form...
McDonald’s Just Slashed Prices…The Economy is DONE
Jay Powell vs. Ronald McDonald? The FOMC yesterday published the minutes of its July meeting which showed a majority of officials believe inflation is the country's greatest threat. So, it was a huge shock when the world's biggest fast-food joint reported - ON THE SAME DAY - it was doing the opposite. Even the FOMC "majority" isn't as solid as it is made to appear, as the minutes also contained one observation that really does align with these real economy facts.
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What if your gold could actually pay y...
Target Gives MASSIVE Warning Of Consumer Behavior
I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form on the page I’ve linked below.
All the details and more about Glint are at https://partner.glintpay.com/eurodollar/.
Target suffered another quarterly drop in sales. And the reason why was given by the CEO of Home Depot commenting on his own company's struggles. Laying down some truth, for once, these big retailers are adding more color and confirmation to why the ma...
BREAKING: Credit Spreads Hit New Multi-decade LOWS
With Monetary Metals, you don’t just hold gold, you earn a real yield on it, paid monthly in physical gold, without ever giving up ownership
You can learn more here http://www.monetary-metals.com/Snider/
Corporate credit is filled with what appear to be contradictions, with some spread categories tumbling to their lowest levels since the late nineties. Yet, delinquencies and risks are rising and doing so in a way everyone is recognizing. So, why the complacency? It's a combination of several critical - perhaps killer - factors that tie in to commercial real estate. We...
New Treasury Data Shows Foreigners Are Doing Something UNPRECEDENTED
I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form on the page I’ve linked below.
All the details and more about Glint are at https://partner.glintpay.com/eurodollar/
It's gotten so bad that serious Wall Street commentators are openly talking about yield curve control for Treasuries - just like they did four years ago. Yet, YCC never happened for the same reason it won't happen today. While the same people cal...
Amazon Reveals Americans Have Hit Their Final Straw
I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form on the page I’ve linked below.
All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don’t miss out!
Last month was Amazon Prime "Day" - now four - and after it was over the whole thing just disappeared down a memory hole. Why? Ask the boxes. What box-makers are reporting is getting to be disturbing. No wonder wi...
HSBC’s "China Crisis Is Far Worse Than Anyone Imagined"
With Monetary Metals, you don’t just hold gold, you earn a real yield on it, paid monthly in physical gold, without ever giving up ownership
You can learn more here http://www.monetary-metals.com/Snider/
HSBC reported shocking results regarding its Hong Kong real estate loans further establishing the proportions of the credit crisis underway there. The news was, however, in line with recent developments in the city, among its banks, and with their Chinese counterparts. The reason was simple enough: all of them are suffering from the same fatal flow which the world, not jus...
New Data Suggests Oil Will Hit A Price You Won't Believe
I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form on the page I’ve linked below.
All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don’t miss out!
Oil tumbled today nearing its multi-year low as a massive supply glut hangs over the marketplace. But it's not supply where the glut is coming from. Meanwhile, rates also tumble as everyone - even the media - is getting r...
$4.36 Trillion Bank Just Sent a MASSIVE Warning to the World
With Monetary Metals, you don’t just hold gold, you earn a real yield on it, paid monthly in physical gold, without ever giving up ownership
You can learn more here http://www.monetary-metals.com/Snider/
Eurodollar University's Money & Macro Analysis
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Twitter: https://twitter.com/JeffSnider_EDU
The Hidden Risk in Japan That Could Collapse Global Economies
I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form on the page I’ve linked below.
All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don’t miss out!
The macro situation is worse this summer compared to last summer, so where's Japan's carry trade? If the July 2024 jobs report provoked a violent financial backlash, you'd think the July 2025 version would have, too. The fact it didn't point...
McDonald’s Can’t Even Sell Breakfast (Something’s VERY Wrong)
I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form on the page I’ve linked below.
All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don’t miss out!
Both McDonald's and Wendy's reported this past week that more Americans are skipping breakfast, not for some health fad but increasingly harsh economic circumstances. That view was further corroborated by the Fed which showed credit card usage fell again f...
Goldman Sachs Just Issued Brutal Economic Warning
With Monetary Metals, you don’t just hold gold, you earn a real yield on it, paid monthly in physical gold, without ever giving up ownership
You can learn more here http://www.monetary-metals.com/Snider/
The July jobs report has sparked an overdue reexamination of a bunch of "truths" everyone has simply take for granted: inflation is the biggest risk, bonds are being rejected because of debt, etc. Goldman Sachs finally decided to check that actual yield curve and was utterly shocked to find zero interest rates all over it.
Eurodollar University's conversation w/St...
The Bank of England Just Did Something No One Expected
I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form on the page I’ve linked below.
All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don’t miss out!
This had never happened before, an unprecedented vote for the Bank of England's Monetary Policy Committee. Despite it, the Pringles can remains undeterred since this is what rate cutting cycles are. The destination remains the same and another drop...
BREAKING: The Fed Is About to Cut Rates by 50bps
I’m excited to share something I’ve negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER’ or filling out the form on the page I’ve linked below.
All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don’t miss out!
Everything continues to point directly toward much lower rates, including what is setting up to be a repeat of last summer. As Steve and I said a few days ago in the wake of the unambiguously bad jobs report...
This Student Loan Crisis Could Be the Tipping Point for the Economy
The Federal Reserve reported a record increase in student loan delinquencies to go with high rates of souring household loans in credit cards and auto lending. The distress is another confirmation of macro deterioration starting with jobs and incomes. And that's just what the latest major economic release on US services showed today -- another alarming drop for employment.
Eurodollar University's Money & Macro Analysis
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BREAKING: Interest Rates Just Made a Crisis-Level Move
Huge moves at the front part of the interest rate curve. Bills did something we haven't seen since April. Meanwhile, forward rates reacted to Friday's payroll numbers with crisis-level hedging and then held those prices today. Why? Simple: payrolls were the last of it.
Eurodollar University's Money & Macro Analysis
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With Monetary Metals, you don’t just hold gold, you earn a real yield on it, paid monthly in physical gold, without ever giving up ownership
You can learn more here http://www.monetary-metals.com/Snider/
*****
Bloomberg Job Market Healthy Despite ‘Disapp...
Copper-to-Gold Ratio Just Sent a HISTORIC Warning (This Is Bad)
With Monetary Metals, you don’t just hold gold, you earn a real yield on it, paid monthly in physical gold, without ever giving up ownership
You can learn more here http://www.monetary-metals.com/Snider/
After a crazy week with everything else going on, copper's historic plunge almost flew under everyone's radar. But now with copper prices getting beyond tariff distortions, settling back in to the fundamentals revealed a shocking development - one that absolutely fits with everything else for the week, especially the payroll disaster.
Eurodollar University's weekly conversation w/Steve Van Metr...
The Dollar is SURGING Higher (And That’s a Problem for Everyone Else)
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The dollar is surging again. And while it's primary the euro taking the other side, just as importantly, if not more importantly, currencies like the rupee are tanking worse. INR hit another record low and that along with the euro's sharp reverse is a canary singing in the eurodollar coalmine...perhaps gasping.
Eurodollar University's Money & Macro Analysis
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Twitter: https://twitter.com/JeffSnider_EDU
New Jobs Data Reveals Why Home Prices Are PLUNGING
With Monetary Metals, you don’t just hold gold, you earn a real yield on it, paid monthly in physical gold, without ever giving up ownership
You can learn more here http://www.monetary-metals.com/Snider/
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Housing prices slid even farther in May, echoing previous data which has shown material weakness all across US real estate markets. The source of this downturn in housing isn't interest rates whatsoever. The res...
The World Isn't Prepared for What Just Happened to Oil
The supply glut was never canceled. Almost everyone and every part of the oil market remains convinced it is happening, the potential weighing on prices and movements even if occasionally geopolitics gains control over short run periods. Important macro updates from Ireland to India further prove why the glut isn't being led by global supply. And if it wasn't enough sharp declines in US usage help clear it up even more.
Eurodollar University's Money & Macro Analysis
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Eurodollar University's One Big Thing Weekly
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Eurodollar University's Anniversary Sale
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