Eurodollar University

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 https://www.eurodollar.university Twitter: https://twitter.com/JeffSnider_EDU

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 ca...

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 br...

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...

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 Monetar...

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 setti...

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...

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 ***** With Monetary Metals, you don’t just hold gold, you earn a real yield on...

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 th...

***** To sign up and get started with GlintPay, go to glintpay.com and make sure to use the code SNIDER. ***** 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 coal...

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 One Big Thing Weekly https://eurodollaruniversity.substack.com/ Eurodollar University's Anniversary Sale https://www.eurodollar.university/sale ****** Housing price...

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...

The JGB curve isn't behaving the way it "should", nor is that behavior universal to the entire curve. Not only that, similar patterns are playing out in US$ forward markets like term SOFR futures. Each of these curves are pricing therefore predicting the same general set of future outcomes, and, wildly enough, enormous difficulties in figuring out how and when to get there because of the same reas...

Assuming the economy continues its downturn as all the major markets are pricing, what would that look like and what should we be looking for? That leads into the question of how deflationary money becomes a deflationary or depression economy in the first place. That means we need to examine economic mechanisms.  Eurodollar University's Make It Make Sense ****** Eurodollar University's One Big Thi...

June housing data is in...and it is looking worse for real estate in the US. The Florida market is leading the way. Everyone is blaming "historically high rates" for the growing bust. Not only is that demonstrably false, the real reason has broad implications for interest rates and a lot more.   Eurodollar University's Money & Macro Analysis ****** If you are in any way interested in precious...

The ECB's latest Bank Lending Survey (BLS) adds more evidence to the behavior we've already been chronicling from among Europe's and the world's financial institutions. They are increasingly negative on especially consumers. We know what that means, too: jobs.  Eurodollar University's Money & Macro Analysis ****** https://eurodollaruniversity.substack.com/ Eurodollar University's Anniversary S...

There are reports HK bankers are already informally discussing how to structure a "bad bank." Earlier today, other reports said monetary authorities in Hong Kong were circulating the "crisis letter." The situation has taken a turn for the serious, a warning to the rest of the world because what HK is trying desperately to come to grips with is the same major problem as everyone else has, where the...

Payback is finally here? The implications of the latest report on trade suggest we're finally moving far enough away from all the recent distortions to gain a better sense of whether this really is the "main event." One of those warns trade volumes might crash from here. Plus, another critical forward-leaning measure just flashed a recession signal. All of which consistent with market positions. ...

Moody's latest report on credit market dynamics showed a significant increase in the number of distressed borrowers, primarily those relating to private equity. In addition, bank stats show that while everyone else has forgotten about commercial real estate and its underlying bust, domestic banks have not and have been quietly yet persistently reducing their exposures to it. Participants in both s...

Two major markets, two VERY different conclusions and outlooks. The diverging views and prices revolve around what really happened in April. Was it a one-off overreaction to tariffs? Or was the deflation confirmation of more than just potential volatility? Both markets are doubling and tripling down on their separate views, each reaching record or near-record levels for them.  Eurodollar Universit...

Only a week after the Reserve Bank of Australia decided to pause its rate cutting series, the Australian government reported a rash of exceptionally weak labor data, including the highest unemployment rate for the country in four years. RBA wasn't alone; the Bank of England is finding out the same in the same hard way. Central bank rate cut pauses aren't unusual, and they almost always end just li...

Three months ago, hotel operators were confident that the consumer downturn they were experiencing would end being a relatively quick pain. After the tariff matter was finally settled, Americans would sure go back to spending as they always seemed to. Instead, a whole bunch of critical and alarming data out just today has poured oceans of deflationary cold water on the recovery hope.  Eurodollar U...

Five months and little to show for it. Tariffs have been applied for that long, yet consumer prices remain suspiciously tame. The real story isn't the possible pass-through of trade duties, its why that isn't happening on a far broader basis. We got more evidence for why from American bank balance sheets.  Eurodollar University's Money & Macro Analysis BLS June 2025 CPI https://www.bls.gov/new...

Jamie Dimon, CEO of JP Morgan, had some very harsh words and a pointed warning. He said the world was at high risk from tariffs. And while the activities of "his" bank largely agree with the high degree of risk, it's the complete opposite from what Dimon said publicly. This is not the first time this has happened, either. When the risks are greatest, JPM's CEO says one thing while JPM itself does...

Asia is suddenly awash in deflation. Japan is now experiencing it. And while not necessarily new for China, the acceleration downward to producer prices hints at deterioration in demand, overseas as well as locally. It's become a big enough change the government in Beijing crucially appears to shifting its own economic focus, a potentially profound worldwide signal. Oh, and Jamie Dimon. Eurodollar...