You can watch the replay of the webinar here https://event.webinarjam.com/go/replay/27/n0rnxu71sp7b8nb1 FedEx warned that the US economy is now the biggest constraint on the world, experiencing what the shipper currently estimates is a very serious round of "uncertainty." However, incoming data - not to mention the dollar - shows how the situation is becoming more - not less - certain, with a whole host of updates today. "Uncertainty" simply means "we don't like how this looks." Eurodollar Unive...
Mar 25, 2025•18 min•Ep. 1043
Michael Saylor's Strategy sold $700 million in preferred stock Friday, but with an eye-opening 10% dividend attached to be paid in cash. Not stock. Not coins. It was the second straight preferred sale in as many months, though the first one went off at only 8%. Security sales. Trying to get govts and Big Tech to buy Bitcoin. What is going on in the world of BTC? There's a huge STORY here, one that's bigger than Saylor. Eurodollar University's Money & Macro Analysis MSTF Pfd Stock Mar 2025 ht...
Mar 24, 2025•22 min•Ep. 1042
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/ I am also doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare, you can sign up here: https://event.webinarjam.com/register/27/l3k2rby6 Canary in the coalmine. Not Mag Seven, Russell. The macroeconomic warnings are coming in from all direction. Small caps. AI bubble. Ma...
Mar 23, 2025•18 min•Ep. 1041
I am doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare. You can sign up here: https://event.webinarjam.com/register/27/l3k2rby6 Following the Fed, the Swiss, Swedes and BoE. Plus a shocking drop in Australian employment that's going to be a factor for RBA, too. Whatever central bankers say today, it's what they're already doing which matters. The upshot is that those currently not engaged in the global race to the bottom (interest rates) are increasingly...
Mar 21, 2025•21 min•Ep. 1040
I am doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare. You can sign up here: https://event.webinarjam.com/register/27/l3k2rby6 The only question is how long the Fed can hold out, not if. With other central banks racing toward the bottom already, the fact those around the FOMC are also speaking with more forceful concerns - even downgrading - their expectations has the Fed effectively trapped, only a step maybe two away from re-entering that same race. E...
Mar 20, 2025•18 min•Ep. 1039
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/ I am also doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare, you can sign up here: https://event.webinarjam.com/register/27/l3k2rby6 After credit spreads had narrowed to near historic lows last month, they've made a major move off them. In fact, the rise in spreads h...
Mar 19, 2025•20 min•Ep. 1038
I am doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare. You can sign up here: https://event.webinarjam.com/register/27/l3k2rby6 The big drop in retail sales in January turns out to have been even bigger - much more. And then February consumer spending failed to rebound from it, coming in way below expectations, too. Add retail sales to the growing list on the side of "recession scare." Plus, the bad start to 2025 confirms a whole lot more on that side. E...
Mar 18, 2025•19 min•Ep. 1037
I am doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare. You can sign up here: https://event.webinarjam.com/register/27/l3k2rby6 The return of zero interest rates. Not in some distant future, right now. A major central bank will be debating the potential return of ZIRP this week. And it is far from alone; policy rates aren't just falling all over the world, they're already a lot closer to the historical lows everyone said we'd never see again. Eurodollar ...
Mar 17, 2025•18 min•Ep. 1036
I am doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare. You can sign up here: https://event.webinarjam.com/register/27/l3k2rby6 Foreign companies are fleeing China in droves as the government there is now smack in the middle of an epic borrowing spree. Those two things are related, both stemming from the same major deficiency: banks. Not central banks; actual banks. And China's institutions continue to explore new depths. Eurodollar University's Money &a...
Mar 16, 2025•22 min•Ep. 1035
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/ I am also doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare, you can sign up here: https://event.webinarjam.com/register/27/l3k2rby6 The global "race to the bottom" for interest rates is already well underway, more than most people might think. They've been led to be...
Mar 14, 2025•18 min•Ep. 1034
I am doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare. You can sign up here: https://event.webinarjam.com/register/27/l3k2rby6 Delta airlines in January said business was booming and that the company had confidence there was no end in sight Yesterday, the CEO called the first quarter a "parade of horribles" as economic "uncertainty" spoiled everything. Delta was not alone and not just in terms of airlines. There isn't economic uncertainty, the opposite ...
Mar 13, 2025•20 min•Ep. 1033
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/ I am also doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare, you can sign up here: https://event.webinarjam.com/register/27/l3k2rby6 While the world is lost in the "recession scare", China comes along and adds its considerable deflationary weight to it by reporting m...
Mar 12, 2025•20 min•Ep. 1032
I am doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare, you can sign up here: https://event.webinarjam.com/register/27/l3k2rby6 Stocks plunged, bond yields dropped, the R-word is now the common phrase in the media...Jay Powell says everything is just fine and dandy. Even the President is now cautioning the economy might be going through a "transition" and the markets more and more can't get away from it. Eurodollar University's Money & Macro Analysis...
Mar 11, 2025•20 min•Ep. 1031
I am doing a webinar on how The Global Economy is Breaking: What Comes Next & How to Prepare, you can sign up here https://event.webinarjam.com/register/27/l3k2rby6 Hot on the heels of the big drop in employment, global trade soared at the absolute wrong time and for all the wrong reasons. Both point to the same huge loss of economic momentum, now seen coming from places all over the world. China, Canada...even the USA. Eurodollar University's conversation w/Steve Van Metre https://www.eurod...
Mar 10, 2025•19 min•Ep. 1030
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/ Macy's is yet another with a warning on the economy just in time for the payroll numbers on February. They were a disaster if hardly anyone saw the true scale of it. Macy's might have a sense, as do other retailers. The data shows there really is big time trouble brewing in the jobs market. Eurodollar Univer...
Mar 09, 2025•19 min•Ep. 1029
Sign up for our free March 24 webinar right here: https://event.webinarjam.com/register/27/l3k2rby6 Another bazooka, this time from Germany, of all places. The mere thought of it has been enough to send the German bond market into a tailspin and sending yields to nearly their highest in fourteen years while also pulling other parts of the marketplace into it, too. Does the selloff signal inflation, success, or something else entirely? What are the implications for everyone else? Eurodollar Unive...
Mar 07, 2025•22 min•Ep. 1028
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/ Target issued another warning on the economy and then joined Best Buy as merely the first to say they're raising prices. While that may sound inflationary, it's the opposite and will end up pushing interest rates even lower. Those are already happening in the market, in part as markets more confidently price...
Mar 05, 2025•19 min•Ep. 1027
Stocks are getting hit, with bond yields tumbling. The "growth scare" gets louder as the luxury car brand just confirmed it's heading for the worst, no longer willing to hold out for economic strength everyone talks about yet never happens. The forgot how to grow economy is firmly at risk of remembering traditional recession mechanics. Eurodollar University's Money & Macro Analysis WSJ Mercedes-Benz Plans to Cut Jobs as Earnings Expected to Slump https://www.wsj.com/business/earnings/mercede...
Mar 04, 2025•20 min•Ep. 1026
Not a good week for financial markets. Oil down. Rates sunk. Stocks hit. Crypto crashing. Why? The "growth scare" is back. Or, at least, it's back in the mainstream. In reality, it never left and certain financial markets are being forced to reckon with this. Eurodollar University's conversation w/Steve Van Metre Atlanta Fed GDPNow https://www.atlantafed.org/cqer/research/gdpnow https://www.eurodollar.university Twitter: https://twitter.com/JeffSnider_EDU
Mar 03, 2025•17 min•Ep. 1025
The new guy at the RBI said he wasn't going to interfere with the rupee as much as his predecessor. Apparently, the dollar has left him with little choice. It’s the fundamentals that matter. And even India is showing more signs of forgetting how to grow. That’s why the dollar has been on a rampage again and why RBI can't let it go. Eurodollar University's Money & Macro Analysis Bloomberg India Central Bank’s Short Dollar Book Hit Record $77.5 Billion https://www.bloomberg.com/news/articles/2...
Mar 02, 2025•20 min•Ep. 1024
European banks are surging into safety, buying the third most on record in January. At the same time, they scaled back activities in the real economy expecting further deterioration. Their behavior also backs up market pricing especially interest rates, while also exposing the fallacy behind them. Eurodollar University's Money & Macro Analysis ECB BLS Q4 2024 https://www.ecb.europa.eu/stats/ecb_surveys/bank_lending_survey/html/ecb.blssurvey2024q4~e1ddae0f19.en.html https://www.eurodollar.uni...
Feb 28, 2025•19 min•Ep. 1023
Why now? After teasing a bank recapitalization plan as part of last year's "bazooka", the CCP did nothing about it over the five months since raising the matter. Total silence. Now, all of a sudden, news banks are going to get their equity after all. What changed? There are a few suspects, starting with growing turmoil in money markets alongside more problems with real estate. Eurodollar University's Money & Macro Analysis Bloomberg China to Inject at Least $55 Billion of Fresh Capital Into ...
Feb 27, 2025•20 min•Ep. 1022
If you are in any way interested in precious metals, check out what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/ Rates are down sharply, so much the broad yield curve re-inverted from one critical spot. Given the macro context with crashing consumer confidence and a steep loss of economic momentum, particularly in the services sector, that re-inversion along with a multi-month low in 2-year yields is telling us everything we...
Feb 26, 2025•20 min•Ep. 1021
Is there trouble brewing in the AI bubble? A report came out earlier today that Microsoft was scaling back its investments, one the company denied. Its substance, however, aligns with everything else that's going on, from Warren Buffett curiously choosing not to explain Berkshire's stock selling to the deteriorating conditions in South Korea. Eurodollar University's Money & Macro Analysis Bloomberg Microsoft Dropped Some AI Data Center Leases, TD Cowen Says https://www.bloomberg.com/news/art...
Feb 25, 2025•20 min•Ep. 1020
If you are in any way interested in precious metals, check out what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/ Walmart the latest to issue a warning. SPG's PMIs crack, particularly services. Consumer confidence tanks. And they call it "uncertainty." Eurodollar University's conversation w/Steve Van Metre SPG PMI press release https://www.pmi.spglobal.com/Public/Home/PressRelease/c3a10cc3461d4d8aa1758082292e7358 https://www....
Feb 24, 2025•20 min•Ep. 1019
A tinderbox waiting to explode? When spreads are this low, and complacency this high, that means everyone is on one side the market. Not because they want to be, they have to be. And they all believe that they'll be able to get to the exits even though everyone is searching for the same signals. Eurodollar University's Money & Macro Analysis Bloomberg Money Managers See Dangers in Credit’s Eerie Calm https://www.bloomberg.com/news/articles/2025-02-17/credit-s-eerie-calm-has-some-money-manage...
Feb 23, 2025•21 min•Ep. 1018
WTF!? This really better be a stunt or a bad joke because if it's not then we're faced with more bad economics. This proposal is exactly the SH&% that is supposed to be ending. The government wouldn't be giving anyone "their" money back, just borrowing more to make it look like that would what happens. Eurodollar University's Money & Macro Analysis Milton Friedman - Tyranny of the Status Quo - Part 1 - Beneficiaries w/ David Brooks https://www.youtube.com/watch?v=wRXEk7su62w The Hill Adv...
Feb 21, 2025•19 min•Ep. 1017
The last central bank finally gives in to reality, joining the rate cutting cycle in one final blow to higher for longer. This brings RBA closer to its neighbor RBNZ even though, on the surface, the two seem far apart in every respect. For all this alleged differences, however, the dollar has drastically other ideas which is why dollar for dollar for dollar, they're all the same globally synchronized. Eurodollar University's Money & Macro Analysis CNBC Australia’s central bank cuts rates for...
Feb 20, 2025•19 min•Ep. 1016
The poor economy brought down Germany's government. With the election looming on Sunday, attention turns to who will take over. The inconvenient truth, for the economy, is that it doesn't matter. The whole world needs to stop looking for answers from politicians who have NONE. Eurodollar University's Money & Macro Analysis Reuters German voters demand change as Europe's biggest economy stalls https://www.reuters.com/world/europe/german-voters-demand-change-europes-biggest-economy-stalls-2025...
Feb 19, 2025•21 min•Ep. 1015
Warren Buffett continues to sell stocks. But it's not just disposing of stocks, which ones. At the same time, even Wall Street is beginning to take note of the dangers over dramatic complacency in risk markets like junk credit along with stocks. With both marketplaces waiting for a recession each recognizes, they're being eroded by the one we already have. That could very well explain why the selling continued at Berkshire. Eurodollar University's Money & Macro Analysis Fortune Buffett sold ...
Feb 18, 2025•21 min•Ep. 1014
