Podcasts about alhambra investments

Live replay on December FOMC decision.---------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/m9wym/register/n0rnxu7n---------------------------------------------------------------------------------EDU LIVE 2026If you're a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here: https://eurodollar-university.com/event-home-page---------------------------------------------------------------------------------

Swiss central bankers are being forced to choose between negative interest rates and negative consumer prices by the increasingly negative direction of the globally synchronized system. On a monthly basis, Switzerland's CPI declined in November for the fourth straight month as the country tries to work through contractions in output and a small but noticeable rise in unemployment. This all should sound familiar because, again, globally synchronized.   Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------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------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/m9wym/register/n0rnxu7n---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

There is a debate raging on Wall Street and across the markets about what's happening in private credit right now and what that might mean moving forward. We've gotten past the initial shock, the Tricolor and First Brands fiascos, the first round of hedge fund redemptions, so now what? Well, to begin with, there's what banks are doing right now and then there are warnings still coming in from key players across the industry.  Eurodollar University's Money & Macro AnalysisIf you're a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here: https://eurodollar-university.com/event-home-pageBloomberg Private Credit Woes Should Put Banks on Noticehttps://www.bloomberg.com/opinion/articles/2025-12-05/banks-need-shoring-up-against-private-credit-risksBloomberg Private Credit ‘Hysteria' Will Get Very Real Next Yearhttps://www.bloomberg.com/opinion/articles/2025-12-01/private-credit-risk-apollo-ceo-hysteria-claim-is-not-totally-rightBloomberg Private Credit's Sketchy Marks Get Warning Shot From Wall Street's Top Cophttps://www.bloomberg.com/news/articles/2025-11-25/private-credit-s-sketchy-marks-get-warning-shot-from-wall-street-s-top-copBloomberg Private Credit on Defensive Again Over ‘Mark-to-Myth' Studyhttps://www.bloomberg.com/news/articles/2025-10-16/private-credit-on-the-defensive-again-over-mark-to-myth-studyhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

The most important funding system in the world is flashing warning signals. Most people won't notice until it's too late.I'm hosting a free webinar to break down what's happening and what it means for your portfolio.  https://event.webinarjam.com/channel/risks--------------------------------------------------------------------------------Automotive insurance claims are estimated to have dropped around 9% so far this year. That sounds like a good thing, but it's an ominous sign. There haven't been fewer car accidents, instead more people just can't afford car insurance. Just recently, Gallup found at its midseason Christmas update, holiday shopping plans plummeted by a record amount. More than during late 2008. Why? Same reason people aren't buying car insurance. There are no jobs and not nearly enough income.  Eurodollar University's Money & Macro AnalysisGallup Economic Confidence Slips; Holiday Spending Plans Plummethttps://news.gallup.com/poll/699311/economic-confidence-slips-holiday-spending-plans-plummet.aspxBloomberg More Americans Are Skipping Car Insurance to Save Moneyhttps://www.bloomberg.com/news/newsletters/2025-12-05/more-americans-are-skipping-car-insurance-to-save-moneyhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

The yen has made a huge move over the past seven months and no one can figure out why. According to every mainstream economic theory, JPY should be soaring not sinking. It's got the government in Tokyo hollering about currency intervention claiming there is no fundamental reason for the yen's plight. Except, there is and we just got more confirmation as household spending there utterly plunged in September and October. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/m9wym/register/n0rnxu7n---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

After weeks of speculation, back and forth over bad theories on inflation and what seemed to be a steady stream of hawk-sounding Fed policymakers, the market has spoken. We know right now what the FOMC is going to do next Wednesday. But what comes after that is still somewhat up in the air, though not nearly as much as you might think given all the noise recently.  Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/m9wym/register/n0rnxu7n---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

November now makes three of the last four months and four of the last six with negative private payrolls. According to ADP, the US private economy shed 32k jobs last month, the most yet in the cycle. And it turns the 6m average negative for the first time, so serious problems in labor – which are creating bigger ones in the housing market. According to the latest official numbers from the government, home prices fell for the fourth time in the last five months and that brought the annual rate of change down to the lowest since February 2012. Yes, February 2012, the bottom of the housing bust. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------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--------------------------------------------------------------------------------------------------------------------Federal Reserve Beige Book November 2025https://www.federalreserve.gov/monetarypolicy/files/BeigeBook_20251126.pdfBloomberg A Historic Housing Disconnect Is Forcing Prices Downhttps://www.bloomberg.com/opinion/articles/2025-12-01/a-housing-disconnect-points-to-lower-priceshttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Consumer products giant Proctor & Gamble just came out with an unusual warning about its core business, consumer products meaning consumers. The maker of Tide detergent, Mr. Clean, Pampers, Gilette and whole bunch of other brands you use every single day just said that sales were down “significantly” in October and that it likely continued right on through November. This tracks with where Christmas holiday shopping has been so far with Black Friday and Cyber Monday.Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------Bloomberg P&G Warns US Sales Down ‘Significantly' Entering Current Quarterhttps://www.bloomberg.com/news/articles/2025-12-02/p-g-warns-us-sales-down-significantly-entering-current-quarterBloomberg Cyber Monday Spending Pace Lags Black Friday for Second Yearhttps://www.bloomberg.com/news/articles/2025-12-02/cyber-monday-online-spending-in-us-increases-7-1CNN You're paying more for less this shopping season. Now there's proofhttps://www.cnn.com/2025/12/01/business/black-friday-shoppers-holiday-seasonhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

December begins with a decided risk-off mood in financial markets, led by more painful liquidations in crypto. Bitcoin starts off the month with a nearly 7% drop to what would be a new recent low. Why? Economic woes continue to dominate concerns. Starting with Chicago, ISM's regional business barometer put up its largest single month decline in new orders in more than two years. Backlogs crashed by nearly 22 points to the lowest since March 2009. Its employment index fell to the worst since May 2009, with not a single respondent saying it had increased employment last month. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------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------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Eurodollar University's AFTER BLACK FRIDAY SALEGet our DDA+ subscription including the DDA, a membership, and the Daily Briefing for one ultra-low price. Not only that, we'll also include the Substack One Big Weekly Theme subscription to. Huge value and huge savings. https://https://www.eurodollar.university/black-friday-2025---------------------------------------------------------------------------------------------------------------------ISM Chicago Business Barometer November 2025https://drive.google.com/file/d/1N7xXT_P4Z_g7u0dJYI_kOYkSk1fcvLcQ/viewISM Manufacturing November 2025https://www.ismworld.org/supply-management-news-and-reports/reports/ism-pmi-reports/pmi/november/S&P Global Press Releaseshttps://www.pmi.spglobal.com/public/release/pressreleasesBloomberg Small Businesses Turn to Lending Startups as Tariff Costs Mounthttps://www.bloomberg.com/news/articles/2025-09-15/tariffs-drive-small-importers-to-costly-loans-as-lending-startups-surgeBloomberg First Brands' Blowup Puts Trade Finance in Spotlighthttps://www.bloomberg.com/news/newsletters/2025-10-19/first-brands-blowup-puts-trade-finance-in-spotlight-jnj-jpm-ubs-jefhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

HP becomes the latest big name to announce major layoffs, said to be around 6000 more white collar jobs. It's getting to the point where despite all the mainstream and social media attention, call it fixation, on the tariff inflation faction at the Fed, the latest economic update from the central bank has almost nothing in it about that. Instead, it's cover-to-cover with worries about HP, Amazon, and all the smaller businesses we never hear about who nonetheless are finding themselves on the same part of the flat Beveridge curve. Eurodollar University's conversation w/Steve Van Metre---------------------------------------------------------------------------------------------------------------------Eurodollar University's EARLY BLACK FRIDAY SALEGet our DDA+ subscription including the DDA, a membership, and the Daily Briefing for one ultra-low price. Not only that, we'll also include the Substack One Big Weekly Theme subscription to. Huge value and huge savings. https://https://www.eurodollar.university/black-friday-2025---------------------------------------------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

China sold a record amount of Treasuries last quarter, which is actually more confirmation of the monetary tightening story over the summer which is now spilling out into the mainstream in the form of elevated repo rates, SOFR, and repo borrowing from the Fed. At the same time and for very much related reasons, private foreign counterparties were buying huge amounts of, yes, US Treasuries. There was no rejection at all, quite the contrary all of it pointing to growing expectations for the fallout from flat Beveridge. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------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------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Eurodollar University's EARLY BLACK FRIDAY SALEGet our DDA+ subscription including the DDA, a membership, and the Daily Briefing for one ultra-low price. Not only that, we'll also include the Substack One Big Weekly Theme subscription to. Huge value and huge savings. https://https://www.eurodollar.university/black-friday-2025---------------------------------------------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Repo. It's back. Or more accurately, never really left. When we last left off with it, things were calming down which is not unusual in these circumstances. That didn't mean it was a one-time, one-off matter, just that in the middle of the month there isn't a whole lot going on. But now with the Thanksgiving holiday here and December approaching, repo rates are up, borrowing from the Fed is back, and in related developments the hedge fund-private credit world is getting spicier.  Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------Eurodollar University's EARLY BLACK FRIDAY SALEGet our DDA+ subscription including the DDA, a membership, and the Daily Briefing for one ultra-low price. Not only that, we'll also include the Substack One Big Weekly Theme subscription to. Huge value and huge savings. https://https://www.eurodollar.university/black-friday-2025---------------------------------------------------------------------------------------------------------------------Bloomberg UBS Boss Is Right on Private Credit Rating Riskshttps://www.bloomberg.com/opinion/articles/2025-11-06/ubs-boss-scores-one-for-banks-over-private-creditBIS The transformation of the life insurance industry: systemic risks and policy challengeshttps://www.bis.org/publ/bppdf/bispap161.htmhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Despite half the Federal Reserve's best efforts to take away the December rate cut, the bond market is signaling from top to bottom, back to front it doesn't care one bit. The FOMC can spout off on tariff inflation, they can claim there is no way they'll support lowering rates next month, yields are going down and taking inflation expectations with them. The bond market is making big moves despite KC Jeff and his federal funds band.   Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------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------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Eurodollar University's EARLY BLACK FRIDAY SALEGet our DDA+ subscription including the DDA, a membership, and the Daily Briefing for one ultra-low price. Not only that, we'll also include the Substack One Big Weekly Theme subscription to. Huge value and huge savings. https://https://www.eurodollar.university/black-friday-2025---------------------------------------------------------------------------------------------------------------------Conference Board US Consumer Confidence Fell Sharply in Novemberhttps://www.conference-board.org/topics/consumer-confidence/Bloomberg Retail Sales Lost Steam in September as Shoppers Pulled Backhttps://www.bloomberg.com/news/articles/2025-11-25/us-retail-sales-rose-0-2-in-september-as-consumers-pulled-backCNBC Core wholesale prices rose less than expected in September; retail sales gainhttps://www.cnbc.com/2025/11/25/core-wholesale-prices-rose-less-than-expected-in-september-retail-sales-gain.htmlhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 Analysis-------------------------------------------------------------------Get the free guide that breaks down the real economic signals behind America's shrinking consumer demand, and how to protect your wealth before the slowdown hits your income: https://web.eurodollar-university.com/home-------------------------------------------------------------------Bloomberg Indian Rupee Sinks to All-Time Low as RBI's Absence Sows ‘Panic'https://www.bloomberg.com/news/articles/2025-11-21/indian-rupee-slides-to-record-low-on-delay-in-us-trade-dealBloomberg Korean Won Approaches Dollar-Sale Trigger Zone Before Rate Callhttps://www.bloomberg.com/news/articles/2025-11-24/korean-won-approaches-dollar-sale-trigger-zone-before-rate-callhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 AnalysisIn 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 have the time to go all the way to the depth of Eurodollar University's comprehensive Deep Dive Analysis and want the next best thing, One Big Weekly Theme is for you. https://eurodollaruniversity.substack.comZillow 53% of U.S. homes lost value in the past year, the most since 2012https://investors.zillowgroup.com/investors/news-and-events/news/news-details/2025/53-of-U-S--homes-lost-value-in-the-past-year-the-most-since-2012/default.aspxHome Value Declines Spread, But Losses Since Last Sale Are Rarehttps://www.zillow.com/research/home-value-decline-35724/Bloomberg Job and Housing Stresses Are Caught in a Vicious Loophttps://www.bloomberg.com/opinion/articles/2025-11-21/job-and-housing-stresses-are-caught-in-a-vicious-loophttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------CNBC Stocks tumble, Nasdaq closes 2% lower after stunning reversal in AI, Nvidia stockshttps://www.cnbc.com/2025/11/19/stock-market-today-live-updates.htmlCNBC Blue Owl calls off merger of its two private credit funds after announcement rattles stockhttps://www.cnbc.com/2025/11/19/blue-owl-calls-off-merger-of-its-two-private-credit-funds-after-announcement-rattles-stock-sources-say.htmlBloomberg Blue Owl Money Machine Sputters in Face of Private Credit Crackshttps://www.bloomberg.com/news/articles/2025-11-20/blue-owl-money-machine-sputters-in-face-of-private-credit-crackshttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------FOMC October 2025 Minuteshttps://www.federalreserve.gov/monetarypolicy/files/fomcminutes20251029.pdfNBC News Walmart raises sales outlook, boosted by e-commerce and higher-income shoppershttps://www.nbcnews.com/business/business-news/walmart-earnings-ecommerce-rcna244853CNBC Walmart hikes sales and earnings forecast as it attracts shoppers across incomeshttps://www.cnbc.com/2025/11/20/walmart-wmt-q3-2026-earnings.htmlhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 Healthhttps://www.bloomberg.com/news/newsletters/2025-11-17/wary-stock-bulls-eye-walmart-target-for-clues-to-consumer-health?srnd=phx-economics-v2Economic Times TGT stock falls today as Target cuts guidance and predicts weak holiday saleshttps://economictimes.indiatimes.com/news/international/us/tgt-stock-falls-today-as-target-cuts-guidance-and-predicts-weak-holiday-sales/articleshow/125437666.cms?from=mdrRead more at:https://economictimes.indiatimes.com/news/international/us/tgt-stock-falls-today-as-target-cuts-guidance-and-predicts-weak-holiday-sales/articleshow/125437666.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppstYahooFinance Target cuts earnings guidance, warns about high prices, and predicts a weak holiday seasonhttps://finance.yahoo.com/news/target-cuts-earnings-guidance-warns-about-high-prices-and-predicts-a-weak-holiday-season-113001475.htmlCNBC TJ Maxx and Marshalls owner hikes outlook as CEO says holiday season is off to a ‘strong start'https://www.cnbc.com/2025/11/19/tjx-companies-tjx-earnings-q3-2026.htmlFOMC Minuteshttps://www.federalreserve.gov/monetarypolicy/files/fomcminutes20251029.pdf

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------Bloomberg Jeffrey Gundlach Warns of ‘Garbage Lending' as Private Credit Boomshttps://www.bloomberg.com/news/articles/2025-11-17/gundlach-slams-garbage-lending-in-private-credit-marketBloomberg Blue Owl Plunges to 2023 Low After Blocking Exit From Fundhttps://www.bloomberg.com/news/articles/2025-11-17/blue-owl-plunges-to-2023-low-after-blocking-exit-from-early-fundBloomberg Funding Market Strains Spur Wall Street Calls for More Action From Fedhttps://www.bloomberg.com/news/articles/2025-11-13/funding-market-strains-spur-wall-street-calls-for-more-action-from-fedhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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. Eurodollar University's Money & Macro Analysis-------------------------------------------------------------------Get the free guide that breaks down the real economic signals behind America's shrinking consumer demand, and how to protect your wealth before the slowdown hits your income: https://web.eurodollar-university.com/home-------------------------------------------------------------------euronews Weak eurozone growth meets flat jobs market as bankruptcies surgehttps://www.euronews.com/business/2025/11/14/weak-eurozone-growth-meets-flat-jobs-market-as-bankruptcies-surgeBloomberg Merz Advisers Revise 2026 German Growth Forecast to Below 1%https://www.bloomberg.com/news/articles/2025-11-12/merz-advisers-revise-2026-german-growth-forecast-to-below-1DW Germany news: Economic experts call for change of coursehttps://www.dw.com/en/germany-news-economic-experts-call-for-change-of-course/live-74708934https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------Bloomberg China's Investment Crash Puzzles Economists and Threatens Growthhttps://www.bloomberg.com/news/articles/2025-11-14/china-s-investment-crash-puzzles-economists-and-threatens-growthBloomberg PBOC Justifies Loan Slowdown Following Record Contractionhttps://www.bloomberg.com/news/articles/2025-11-11/pboc-justifies-loan-slowdown-following-record-contractionhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 MetreWhat 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 education has left so many massive gaps on the most foundational concepts, making sense of everything is practically impossible otherwise.  With our memberships, we'll fill in everything that you've been missing. https://eurodollar.university/memberships https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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.  Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------Texas Service Sector Outlook Surveyhttps://www.dallasfed.org/research/surveys/tssos/2025/2510#tab-reportBloomberg Verizon Eyes Up to 15,000 Layoffs as New CEO Takes Chargehttps://www.bloomberg.com/news/articles/2025-11-13/verizon-layoffs-could-come-next-week-as-new-ceo-takes-chargeCNBC White House says October jobs and inflation data may never be released because of the shutdownhttps://www.cnbc.com/2025/11/12/white-house-october-data-release.htmlBloomberg Fed's Perli Says Won't Be Long Before Fed Starts Buying Assetshttps://www.bloomberg.com/news/articles/2025-11-12/fed-s-perli-says-won-t-be-long-before-fed-starts-buying-assetshttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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. Eurodollar University's Money & Macro Analysis-------------------------------------------------------------------Get the free guide that breaks down the real economic signals behind America's shrinking consumer demand, and how to protect your wealth before the slowdown hits your income https://web.eurodollar-university.com/home-------------------------------------------------------------------Bloomberg BlackRock Faces 100% Loss on Private Loan, Adding to Credit Market Painhttps://www.bloomberg.com/news/articles/2025-11-10/blackrock-eyes-100-loss-on-private-loan-amid-debate-over-marksBloomberg Why First Brands Has Sparked So Many Concerns on Wall Streethttps://www.bloomberg.com/news/articles/2025-11-10/why-first-brands-collapse-sparked-concerns-on-wall-streetBloomberg Car Loan Delinquencies Hit Record for Riskiest Borrowershttps://www.bloomberg.com/news/articles/2025-11-12/car-loan-delinquencies-hit-record-for-riskiest-borrowershttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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-------------------------------------------------------------------Get the free guide that breaks down the real economic signals behind America's shrinking consumer demand, and how to protect your wealth before the slowdown hits your income https://web.eurodollar-university.com/home-------------------------------------------------------------------USA Today Wendy's to close roughly 300 stores nationwide starting in late 2025https://www.usatoday.com/story/money/2025/11/07/wendys-closing-hundreds-stores-2025/87146469007/CNBC McDonald's U.S. boss puts focus on ‘value and affordability' as consumer spending splitshttps://www.cnbc.com/2025/11/06/mcdonalds-us-boss-memo-value-affordability.htmlBloomberg US Small-Business Optimism Dips to Six-Month Low on Earningshttps://www.bloomberg.com/news/articles/2025-11-11/us-small-business-optimism-slips-to-six-month-low-on-earningsBloomberg US Companies Shed Jobs in Late October, Weekly ADP Data Showhttps://www.bloomberg.com/news/articles/2025-11-11/us-firms-shed-11-250-jobs-per-week-in-four-weeks-to-oct-25-adphttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 AnalysisIn 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 have the time to go all the way to the depth of Eurodollar University's comprehensive Deep Dive Analysis and want the next best thing, One Big Weekly Theme is for you. Ready to make your week count? Subscribe to One Big Weekly Theme today. You can sample the service or sign up and get started straight away. Visit https://eurodollaruniversity.substack.comPresident Trump Truth Socialhttps://truthsocial.com/@realDonaldTrump/posts/115514453574326959https://truthsocial.com/@realDonaldTrump/posts/115520395997089111https://truthsocial.com/@realDonaldTrump/posts/115519726463094783NBC Trump floats giving Americans cash for health care and tariff dividendshttps://www.nbcnews.com/politics/trump-administration/trump-floats-giving-americans-cash-health-care-tariff-dividends-rcna242835Bloomberg Bessent Says Trump's $2,000 ‘Dividend' May Come Via Tax Cutshttps://www.bloomberg.com/news/articles/2025-11-09/bessent-says-trump-s-2-000-dividend-may-come-via-tax-cutshttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------https://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 Strainhttps://www.bloomberg.com/news/articles/2025-11-06/ubs-to-wind-down-o-connor-funds-with-first-brands-exposureNYT $3.2 Billion Move by Bear Stearns to Rescue Fundhttps://www.nytimes.com/2007/06/23/business/23bond.htmlhttps://eurodollar.university

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------Nov 06 October Challenger Report: 153,074 Job Cuts on Cost-Cutting & AIhttps://www.challengergray.com/blog/october-challenger-report-153074-job-cuts-on-cost-cutting-ai/Revelio Labs Employment — October 2025https://www.reveliolabs.com/public-labor-statistics/employment/Revelio Labs RPLS Reports 60k Jobs Added in September Amid BLS Shutdownhttps://www.reveliolabs.com/news/macro/rpls-september-release/https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 AnalysisWhat 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 education has left so many massive gaps on the most foundational concepts, making sense of everything is practically impossible otherwise. With our memberships, we'll fill in everything that you've been missing. https://eurodollar.university/memberships https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 AnalysisWhat 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 education has left so many massive gaps on the most foundational concepts, making sense of everything is practically impossible otherwise. With our memberships, we'll fill in everything that you've been missing. https://eurodollar.university/memberships Bloomberg A Wave of US Layoffs Flash Early Warning Sign for Job Markethttps://www.bloomberg.com/news/articles/2025-11-03/the-low-hire-low-fire-us-economy-seems-to-be-overBloomberg Target to Eliminate 1,800 Roles, 8% of Headquarters Teamhttps://www.bloomberg.com/news/articles/2025-10-23/target-to-lay-off-8-of-headquarters-team-cut-1-800-rolesNYT UPS Has Cut 48,000 Workers Since Last Yearhttps://www.nytimes.com/2025/10/28/business/ups-layoffs-48000-workers-this-year.htmlBloomberg A Slump in Cardboard Box Sales Is Stoking Fears of Lackluster Holiday Shoppinghttps://www.bloomberg.com/news/articles/2025-11-03/cardboard-box-sales-slump-signals-weak-holiday-shopping-aheadRCM/TIPP Optimism Index Drops Sharply https://www.realclearmarkets.com/articles/2025/11/04/rcmtipp_optimism_index_drops_sharply_1145051.htmlhttps://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 something bigger. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 AnalysisIn 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 have the time to go all the way to the depth of Eurodollar University's comprehensive Deep Dive Analysis and want the next best thing, One Big Weekly Theme is for you. eurodollaruniversity.substack.comhttps://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 AnalysisWhat 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 education has left so many massive gaps on the most foundational concepts, making sense of everything is practically impossible otherwise.  With our memberships, we'll fill in everything that you've been missing.https://eurodollar.university/memberships Bloomberg PBOC Adviser Leads Call for Fiscal Support to Housing Markethttps://www.bloomberg.com/news/articles/2025-09-24/pboc-adviser-leads-call-for-fiscal-aid-to-support-housing-markethttps://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------Bloomberg Fed Cuts Rate by Quarter Point, With Dissents on Both Sideshttps://www.bloomberg.com/news/live-blog/2025-10-29/fomc-rate-decision-and-fed-chair-news-conferenceBloomberg Chipotle Falls Most Since 2012 After Warning Over Diner Pullbackhttps://www.bloomberg.com/news/articles/2025-10-29/chipotle-cuts-outlook-for-third-time-in-2025-on-weaker-trafficWSJ Kraft Heinz Lowers Full-Year Outlook on Weak Consumption Trendshttps://www.wsj.com/business/earnings/kraft-heinz-khc-q3-earnings-report-stock-2025-a4c6430eYahooFinance Kraft Heinz bearish on outlook amid volume decreases ahead of splithttps://finance.yahoo.com/news/kraft-heinz-bearish-outlook-amid-173322392.htmlConference Board https://www.conference-board.org/topics/consumer-confidence/https://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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

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 AnalysisWhat 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 education has left so many massive gaps on the most foundational concepts, making sense of everything is practically impossible otherwise. With our memberships, we'll fill in everything that you've been missing. https://eurodollar.university/memberships https://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------https://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 AnalysisIn 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 have the time to go all the way to the depth of Eurodollar University's comprehensive Deep Dive Analysis and want the next best thing, One Big Weekly Theme is for you. Visit https://eurodollaruniversity.substack.com to sample the service or sign up and get started straight away. https://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------Bloomberg Currency Officials Go on Offensive as Trade Angst in Asia Mountshttps://www.bloomberg.com/news/articles/2025-10-16/currency-officials-go-on-offensive-as-trade-angst-in-asia-mountsBloomberg South Korea Says Watching One-Sided Won Volatility in Rare Movehttps://www.bloomberg.com/news/articles/2025-10-13/south-korea-says-watching-one-sided-won-volatility-in-rare-moveBloomberg Swiss Franc's Haven Run Seen Nearing SNB Intervention Thresholdhttps://www.bloomberg.com/news/articles/2025-10-24/swiss-franc-s-haven-run-seen-nearing-snb-intervention-thresholdhttps://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------WSJ Bankrupt Telecom Business Accused of Fraud in Receivables Financinghttps://www.wsj.com/articles/bankrupt-telecom-business-accused-of-fraud-in-receivables-financing-0370b4fdBloombergLaw Factoring-Firm Affiliate Files Chapter 11; Up to $1B Liabilitieshttps://news.bloomberglaw.com/bankruptcy-law/factoring-firm-affiliate-files-chapter-11-up-to-1b-liabilitiesFreightWaves Factoring companies squeezed by slowing shipper payments: Alsobrookshttps://www.freightwaves.com/news/factoring-companies-squeezed-by-slowing-shipper-payments-alsobrooksBloomberg BOE's Bailey Warns ‘Alarm Bells' Ringing in Private Credithttps://www.bloomberg.com/news/articles/2025-10-21/boe-s-bailey-warns-of-financial-crisis-echoes-in-private-credithttps://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------https://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 Analysishttps://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 AnalysisIn 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 have the time to go all the way to the depth of Eurodollar University's comprehensive Deep Dive Analysis and want the next best thing, One Big Weekly Theme is for you. Ready to make your week count? Subscribe to One Big Weekly Theme today. You can sample the service or sign up and get started straight away. https//:eurodollaruniversity.substack.comCNN China expels two top generals from Communist Party in anti-corruption crackdownhttps://www.cnn.com/2025/10/17/china/china-communist-party-expels-military-leaders-intl-hnkBloomberg China's Lopsided Growth Puts Spotlight on Xi's Five-Year Planhttps://www.bloomberg.com/news/articles/2025-10-20/chinese-economic-slowdown-worsens-with-growth-weakest-in-a-yearhttps://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------https://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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 plain sight - and just in time, in case you haven't noticed. Stick around to the end for the best deal we've offered on Eurodollar University's full control room of subscriptions. https://youtube.com/live/vnuKXWiIVac?feature=sharehttps://eurodollar.university/webinar-offerCODE: 2025-OCT-WEBINAR-DDA3--------------------------------------------------------------------------------

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--------------------------------------------------------------------------------The secrets behind these and other financial and monetary signals. Watch our most recent webinar replay to start seeing the truth hiding in plain sight - and just in time, in case you haven't noticed. Stick around to the end for the best deal we've offered on Eurodollar University's full control room of subscriptions. https://youtube.com/live/vnuKXWiIVac?feature=share--------------------------------------------------------------------------------Bloomberg Silver Traders Rush Bars to London as Historic Squeeze Rocks Markethttps://www.bloomberg.com/news/articles/2025-10-11/silver-squeeze-evokes-hunt-brothers-as-banks-rush-bars-to-londonBloomberg Kotak Silver Fund Halts New Investments as Premium Widenshttps://www.bloomberg.com/news/articles/2025-10-09/india-s-kotak-silver-fund-halts-new-investments-as-premium-growshttps://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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---------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------Bloomberg Powell Signals Another Cut as Weak Hiring Pressures Unemploymenthttps://www.bloomberg.com/news/articles/2025-10-14/powell-signals-another-cut-as-weak-hiring-pressures-unemploymentBloomberg Private Credit Investors Sour on Funds as Rate Cuts Hurt Payoutshttps://www.bloomberg.com/news/articles/2025-10-09/private-credit-investors-sour-on-funds-as-rate-cuts-hurt-payoutsBloomberg Blue Owl Chief Points to Bank Loans for Dimon Cockroach Warninghttps://www.bloomberg.com/news/articles/2025-10-15/blue-owl-chief-says-look-to-banks-loans-for-dimon-s-cockroacheshttps://eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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.