Eurodollar University

If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below:  http://www.monetary-metals.com/Snider/ Negative downgrades to the world. Negative rates among major bonds already. Negative prices for consumers - here in the United States. The deflationary signals keep picking up. More to the point, all of this...

Central bankers are being forced to reckon with their inflation biases which are not standing up to reality. Deflationary consequences are breaking out worldwide, either in the form of increasingly layoff-riddled labor markets or outright price deflation; sometimes both. The global race to the bottom for interest rates is spreading as acknowledgement of economic facts rather than Economics fantasy...

If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below:  http://www.monetary-metals.com/Snider/ RBI went full-blown shock and awe. Yet another major global central bank previously fixated on "inflation" abruptly and aggressively joining the race to the bottom. For India, it wasn't  heavy rate cuts this...

ST rates have dropped sharply in the past few weeks, the past few days, in particular. The 4w Treasury bill now yields less than IOR, repo, even the Fed's RRP "floor." That's not all: the 3m10s spread has reinverted again. At the same time another major central bank just hit the panic button, going with a 50-bps cut only a few months after getting started. Where is this all heading? Not in Jay's d...

The payroll estimates for May were a total mess. The headline was weak, revisions make it totally unreliable anyway, and it only gets worse from there. A lot worse. The labor market is breaking down and it's getting uncomfortable and dangerous.

Eight times now. The ECB is trying to say it might be one now, yet no one is listening least of all the economy. What everyone really wants to know is, when is the Fed going to follow along? In addition to all these other central banks acting, the latest reports from the Fed itself show that rejoining the global rate race might be a lot closer than everyone thinks.  Eurodollar University's Money &...

If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below:  http://www.monetary-metals.com/Snider/ For a week when the labor market and its data are in the bright, blaring spotlight, it did NOT get off to a good start. Not only ADP, also ISM. Both together showed the economy continued losing momentum and...

Why are swap spreads today as negative as they had been in the worst parts of April? Why is Swiss franc nearly as strong? Consumer prices undershooting and even turning negative offer a bigtime clue. As does the latest from Chinese and American factories. It’s not one big thing like April, it’s all the little things which keep coming up and piling on.  Eurodollar University's Money & Macro Ana...

If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below:  http://www.monetary-metals.com/Snider/ Several more countries around the world are reporting contractions in GDP even before getting to trade wars and any tariff impacts. The latest cluster around Scandinavia and have European banks overall behav...

Texas Just Sent a Warning Shot to the Rest of the U.S. Economy Consumer spending in Texas has collapsed, and the data from the Dallas Fed is worse than anyone expected. Retail sales activity fell off a cliff in May, hitting levels not seen since April 2020. Inventories are piling up, work hours are being slashed, and employers are cutting back. Is this just a Texas problem… or is it the first sign...

Everyone's favorite topic, yet there is little factually correct information floating around the internet or social media. You can't understand the dollar's position until you realize it's actually the eurodollar you're really talking about. And that means reserve currency, and hardly anyone knows what that truly means or involves. Until now.  Eurodollar University's Make It Make Cents FOMC Minute...

If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below:  http://www.monetary-metals.com/Snider/ South Korea had been on the side of the Fed, sticking with interest rates opting to see about trade war "uncertainty" before doing anything. That lasted all of four weeks. The list of central banks able to s...

If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below:  http://www.monetary-metals.com/Snider/ Germany. France. New Zealand. Singapore. ECB. Rising unemployment. Falling employment. Lowering interest rates. Technical recession. Historically low territory up next. There is almost no one left in the off...

The Reserve Bank of Australia had resisted cutting rates, being the last major central bank to do so. This week, RBA not only cut again officials confirmed discussing a fifty. Plus the Swedes, who were supposed to have been done, are back at it again. Race to the bottom heats up again. Eurodollar University's conversation w/Steve Van Metre Bloomberg RBA Ready to Respond If Needed to Trade Shock, H...

The economy weakens and everyone looks to the Fed or any central bank to cut policy rates. But why? They call it stimulus but the real reason is nothing you've ever heard. In fact, Fed officials intentionally lied for decades to keep this quiet. You don't have to take my word for it; hear it from the maestro's mouth as we go down the rabbit hole of interest rates.  Eurodollar University's Make it...

If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below:  http://www.monetary-metals.com/Snider/ LT rates are up and you know what that means: get ready for a flood of claims deficits suddenly now matter. They don't (sadly), at least not for bonds, and we know they don't because not all the yield curve...

We have more confirmation of a huge and unusual rise in bank lending to this offshore category. It parallels other similar corroboration which raises several thorny issues, leaving us with two broad interpretations for what this really means. With new data becoming available, it raises the stakes for a possible next time.  Eurodollar University's Money & Macro Analysis https://www.eurodollar.u...

If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below:  http://www.monetary-metals.com/Snider/ While we wait to see if the Swiss National Bank opts for zero or negative policy rates next month, its chief Martin Schlegel had a lot to say yesterday about a range of topics, including negative prices, Tre...

In a late Friday news dump, Moody's announced it had downgraded U.S. federal government debt. The news sparked a selloff in Treasuries, at least initially. What are the implications for bonds or the economy? It's not what the mainstream thinks it does. Eurodollar University's Money & Macro Analysis Bloomberg What the US Losing Its Last AAA Credit Rating Means https://www.bloomberg.com/news/art...

Japan did indeed fall back into recession in the first quarter before the tariff shock even had a chance to hit the economy, and positing a deeper negative GDP print than expected. Like everywhere else, the setback is being led largely by consumers. At the same time, American consumer confidence fell to another shocking low rather than rebound with trade deals and a rebounding stock market.  Eurod...

It’s still known as Black Tuesday almost a century later. In October 1929, the stock market crashes and plunges the world into the Great Depression. At least that’s what we’ve been told and what we all believe. But then why didn’t the Crash of 1987 lead to Great Depression 2? I mean, it didn’t even slow the economy down. Or the dot-com crash. Something is missing. As it turns out, there's a lot mi...

If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below:  http://www.monetary-metals.com/Snider/ It was a trifecta of disinflation disaster in today's numbers, with Walmart adding to the woes with its own deteriorating environment. Retail sales were more than soft, industrial output fell, but most conce...

Chinese banks cut lending - by a lot - in April, completing the defensive story seen in banking systems all around the world. However, China's is unique in several key aspects, starting with what authorities have been doing trying to change this. The reason why it has come to this for Chinese banks really is not what everyone believes.  Eurodollar University's Money & Macro Analysis Bloomberg...

Microsoft announced another round of layoffs. Coming from a company that isn't struggling nearly as much as most, it's an ominous sign. The April CPI shows why and not just for Microsoft. It instead aligns with the biggest problem in the economy, and that's not inflation which was absent from the report despite the start of tariffs. A surprise to Economists, but not to BED.  Eurodollar University'...

If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below:  http://www.monetary-metals.com/Snider/ Re-risking accelerated on Wall Street and for many other markets; even bond yields rose. The thinking is if trade wars broke everything, then trade deals fix it. However, the US and China don't have one, And...