Eurodollar University
Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.
Episodes
To sign up for our webinar on July 10, follow the link below:
https://event.webinarjam.com/channel/swaps
Like last month, this June payroll report was taken one way in the mainstream while the details went entirely in the other direction. Headline was a beat and the unemployment rate stalled. Yet, the former was ironically a product of government jobs while the latter slid a tiny amount for ALL THE WRONG REASONS.
There is something going on in the money system with collateral. We've been covering bills and the latest data sheds more light on what is likely happening. It is something we've seen many times before. That's not a good sign.
Eurodollar University's Money & Macro Analysis
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To sign up for our webinar on July 10, follow the link below:
https://event.webinarjam.com/channel/swaps
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https://www.eurodolla...
Fedex is a global bellwether for good reason. What the company said about the economic environment at the start of Q3 was...nothing. But in choosing not to forecast anything, the company said a lot especially given the evidence that has come piling up. We haven't seen consumer spending and incomes like this in America since 2020. That's not a typo. Flat Beveridge.
Eurodollar University's Money & Macro Analysis
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Big moves in yields, especially at the front. While twos are making a move on their own, it's the very front at the first-in-line bills that draws our attention. Steepening has been given a boost by some ugly recent data from right where it counts - incomes and spending.
Eurodollar University's conversations w/Steve Van Metre
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If you are in any way interested in precious metals, you need to see what today's video sp...
AI shouldn't provoke fear and anxiety, it should raise expectations for regular 4-day workweek with 3-day weekends. Artificial Intelligence represents a potential major leap in labor productivity. The end result isn't a desolate hellscape which leaves everyone unemployed, it's instead something economics (small "e") is very familiar with.
webinar link https://event.webinarjam.com/channel/swaps
Eurodollar University's Make i...
To sign up for our webinar on July 10, follow the link below:
https://event.webinarjam.com/register/29/4yzg6cx2
It never was entirely tariff distortions. Everyone had tried to dismiss Q1 as an anomaly. Later revisions have instead shown there is indeed a shift happening among US consumers. Even Winnebago agrees and RVs are the canary for the canary in the macro coalmine. Beveridge is getting closer.
Eurodollar University...
The housing market keeps spitting out alarming signs of a growing bust. Sales are down huge, prices are actually falling - and that's the government's estimates. Most of all, this is directly connected to the economy and especially jobs.
Eurodollar University's Money & Macro Analysis
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If you are in any way interested in precious metals, you need to see what today's video sponsor, Monetary Metals, is doing with...
Swiss francs are soaring again. This isn't a "sell America" trade (which doesn't exist), or the crashing dollar (also doesn't exist). The monetary system remains on edge and now we know why. The shocking full story of what really happened in April and how close we were to the shadow's edge.
Eurodollar University's Money & Macro Analysis
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
Florida has long been the housing canary in the national real estate coalmine. The situation in the Sunshine State is anything but sunny with prices even outright declining in six key areas. That's just where the downturn is most pronounced right now. The excuses for an increasingly ugly housing market have worn out as the real story is finally being revealed.
Eurodollar University's Money & Macro Analysis
If you are in...
The Fed is going cut...in July. Period. Book it. Conditions have drastically changed and the officials shift is now underway. Rates are going down everywhere, including in DC.
Eurodollar University's conversation w/Steve Van Metre
CNBC Fed Governor Waller says central bank could cut rates as early as July
https://www.cnbc.com/2025/06/20/fed-governor-waller-says-central-bank-could-cut-rates-as-early-as-july.html
https://www...
A lot of people, maybe even a majority, find the idea of a two-decade long depression too far-fetched to take seriously. Something like that could never, ever happen. Could it? The problem is most everyone's idea of what a depression is needs to be corrected - another huge piece left missing by Economics. What is a depression? Way too familiar.
Eurodollar University's Make It Make Cents
NBER Cycle Dates
https://www.nber....
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's back. No one wanted it, but it's here. Switzerland is first to revisit this dreaded milestone. Others aren't far behind, including now Sweden. The Swedes are facing exactly the sort of rough circumstances that made the Swiss N...
The FOMC met today and while predictably there was no rate action, neither the dots nor the downgraded economy were the key takeaways. Chair Powell’s press conference became the perfect example of what the Fed has become.
What would you say you do here?
Meanwhile, the markets, the economy and T-bills.
Eurodollar University's Money & Macro Analysis
Struggling airlines grappling with staycations offer insight into consumer behavior. Meanwhile, the government also showed spending on goods (and certain key services) tanked again in May. Even the world's biggest entertainers and their concert tours are suddenly having a hard time. The dreaded pullback keeps getting louder and more confirmed.
Eurodollar University's Money & Macro Analysis
IATA June 2025
https://ww...
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/
Nine months later, China's bazooka has totally flopped. We have all the proof necessary. But the "stimulus" failure is not even the biggest takeaway. The full story behind it starts with banks, detours into massive volatility in Ho...
Oil explodes at the worst time imaginable. There is no good time, of course, here in June 2025 the economy is dealing with tariffs, tariff-distortions, not to mention a noticeable amount of fragility already. Is rising oil going to spark the inflation reignition the Fed has been fearing?
Eurodollar University's conversation w/Steve Van Metre
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
When did the dollar stop being a dollar? Most people might answer August 15, 1971, but a more accurate answer would be around a hundred years before then. There isn't exact date, just the most consequential evolution no one has ever heard of. The good news is that evolution doesn't stop.
Eurodollar University's Make It Make Cents
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
Why are LT rates rising? Most people say it is the long overdue reckoning. After resisting inflation, the Fed, most of all insane debt levels for years, the chickens have finally come home to roost for longer-dated Treasury notes and bonds. And that would mean the market was wrong about all those factors up until now. What IS happening on the curve?
Eurodollar University's Money & Macro Analysis
https://www.eurodollar.un...
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 adds up to what markets...
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.
Eurodollar University's ...
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