Eurodollar University

Latest Episodes:

You won’t Believe What the Japanese Central Bank Just Did May 03, 2026

Show notes

Thanks to Monarch for partnering with me! Start your free trial and get 50% off your first year of total money clarity using my link https://monarchmoney.yt.link/8CnCd5q or code euro50 for 50% Off Monarch Core tier.

The Japanese government, working through the Bank of Japan, just set $35 billion on fire. Then flushed it down the toilet. And if that wasn’t enough, officials in Tokyo are talking about embarrassing themselves in the oil market. Wasting five and half trillion yen in FX wasn’t enough, throw some more money down the hole and all for the public spectacle of it. What a world we live in. Unfortunately for them, and for their counterparts in India, this is the eurodollar’s world.

Eurodollar University's Money & Macro Analysis

Phone Warning Shows Yen Intervention Is the New Normal
https://www.bloomberg.com/opinion/articles/2026-05-01/katayama-phone-warning-shows-yen-intervention-is-the-new-normal

Yen’s Correlation With Oil Hit 2021 High Before Intervention
https://www.bloomberg.com/news/articles/2026-05-01/yen-s-correlation-with-oil-hit-2021-high-before-intervention

Japan Is Said to Sound Out Market on Oil Futures Intervention
https://www.bloomberg.com/news/articles/2026-03-24/japan-is-said-to-sound-out-market-on-oil-futures-intervention

RBI’s Short Dollar Book Surges Past $100 Billion for First Time
https://www.bloomberg.com/news/articles/2026-04-30/rbi-s-short-dollar-book-surges-past-100-billion-for-first-time

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

Pawn Shops Just Issued a Very Grim Warning About Consumer Behavior May 01, 2026

Show notes

We know when Walmart or Dollar General are doing well, those are not good signs for the health of the consumer economy, particularly when it’s higher income shoppers suddenly appearing in bigger numbers. But when that hard hit traffic starts spilling over to the local pawn shops, it’s a whole other level. Canaries and coalmines. Here’s the thing. We’re not only seeing that happen, the data backs this up, including a whole bunch which released earlier today.

Eurodollar University's Money & Macro Analysis

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What 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.

Ready to explore? Master monetary systems – past and future - with structure, clarity, and confidence. Visit https://eurodollar.university/membership

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Pawn shop economy
https://www.msn.com/en-us/money/topstocks/pawn-shops-are-seeing-something-the-stock-market-isn-t-and-it-has-economists-concerned/vi-AA21Rt7f

Powell Press Conference Transcript and Video
https://www.federalreserve.gov/live-broadcast.htm

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

OMG!! Did You See What Just Happened To European Banks?! Apr 30, 2026

Show notes

European banks just told the ECB they are tightening lending standards by the most since 2023. At the same time, the pick up in loan demand they’re seeing is due to heightened liquidity pressures as the energy shock has especially corporate borrowers in Europe on edge. This is why despite knowing the ECB is very likely to raise its policy rates at some point, probably not tomorrow but very likely its next meeting in June, European banks bought a boatload of bonds anyway.

Eurodollar University's Money & Macro Analysis

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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

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

BREAKING: UAE Just Left OPEC Here's What you Must Know Apr 29, 2026

Show notes

A week ago, the UAE said it was in consultation with the US government trying to arrange a dollar swap line. Since then, Treasury Secretary Bessent told Congress MANY allies were, too, and not just those in the Middle East. Just hours ago, huge news as the UAE says it’s outright leaving OPEC. There is big stuff going on behind the scenes because the energy shock is indeed a dollar shock and much bigger than people think, and the chances of becoming uncontained are not trivial.

Eurodollar University's Money & Macro Analysis

UAE to Leave OPEC in May as Iran War Reshapes Oil Market
https://www.bloomberg.com/news/articles/2026-04-28/uae-to-leave-opec-and-opec-next-month-to-pursue-new-strategy

Bessent Says Gulf, Asian Allies Requested Currency Swap Lines
https://www.bloomberg.com/news/articles/2026-04-22/bessent-says-many-us-allies-in-gulf-asia-requested-swap-lines

Pimco’s $10 Billion Private Deals Fuel Middle East’s Wartime Cash Quest
https://www.bloomberg.com/news/newsletters/2026-04-27/pimco-buys-abu-dhabi-qatar-kuwait-private-bonds-dubai-homes-prices-fall

Dubai's DIFC introduces temporary economic support for businesses, retail community
https://www.reuters.com/world/middle-east/dubais-difc-introduces-temporary-economic-support-businesses-retail-community-2026-04-09/

this is how every bubble ends Apr 28, 2026

Show notes

Interest rates going up. Oil prices big problem. The stock market kept soaring, but even though the S&P 500 gained 20% that year more stocks in the index ended 1999 down than up. There are some similarities between now and '99 and one of those is how far companies will go to make sure they aren’t one of those on the outside looking in. CEOs today are all over AI hype, but they’re lying to you about it.

Eurodollar University's Money & Macro Analysis

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Check it out here: https://monetary-metals.com/snider

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THE YEAR IN THE MARKETS; 1999: Extraordinary Winners and More Losers
https://www.nytimes.com/2000/01/03/business/the-year-in-the-markets-1999-extraordinary-winners-and-more-losers.html

Bank of England Official Says Share Prices Don’t Reflect Risks
https://www.bloomberg.com/news/articles/2026-04-24/bank-of-england-official-says-share-prices-don-t-reflect-risks

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

Texas Oil Insiders Just Gave DIRE Warning For What's Coming Apr 27, 2026

Show notes

Back in April 2020, oil prices went negative after the futures market underestimated just how much demand had collapsed, causing chaos as market participants scrambled to unload their oil. Here in April 2026, the oil futures market is in danger of something similar but in the opposite direction. Certain market participants just may be underestimating how much supply has collapsed. Worrying that might be the case, the Dallas Fed surveyed oil industry companies about what they’re seeing and where they think the Hormuz blockage is leading the energy marketplace. You’re not going to like it.

Eurodollar University's Money & Macro Analysis

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Ready to explore? Master monetary systems – past and future - with structure, clarity, and confidence. Visit https://eurodollar.university/membership

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Dallas Fed Energy Survey Q1 2026 update
https://www.dallasfed.org/research/surveys/des/2026/2601/2601update

Oil Trader Andurand Lost 52% in April First Half on Oil Bets
https://www.bloomberg.com/news/articles/2026-04-23/andurand-lost-52-in-april-first-half-as-ceasefire-hurt-oil-bets

The world is watching the wrong oil price
https://www.telegraph.co.uk/business/2026/04/23/the-world-is-watching-the-wrong-oil-price/

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

BREAKING: Private Credit’s ‘Lehman Moment’ Just Happened Apr 26, 2026

Show notes

Underscoring the global nature of private credit and the credit cycle, one of India’s biggest borrowers has announced it will be delaying principal and interest payments on one of its biggest junk bonds. And who are the primary owners of said bonds? Private credit funds like Cerberus and regulated institutions like Deutsche Bank. The specific bonds in question aren’t going to bring down either one, but the missed cash payments do highlight more behavior consistent with a shift in the cycle and what that means.

Eurodollar University's Money & Macro Analysis

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With credit market developments escalating even more, and major market moves accompanying them, we're going to go over where everything stands but also look forward at the potential scenarios coming out of what continues to look like a global bust.

To take advantage of our limited-time Eurodollar University subscription offer to get access to all EDU materials, reports, and data, visit the link below:

https://www.eurodollar.university/webinar-offer

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Top Indian Private Credit Borrower Delays Paying 20.75% Bond
https://www.bloomberg.com/news/articles/2026-04-24/india-s-shapoorji-gets-nod-to-delay-bond-days-before-maturity

Jeffrey Gundlach Rips TCW Group Over Red Lobster ‘PIK Magic’
https://www.bloomberg.com/news/newsletters/2026-04-18/jeffrey-gundlach-rips-tcw-group-over-red-lobster-pik-magic

Bank of England Deputy Governor Warns of Private Credit Crunch
https://www.bloomberg.com/news/articles/2026-04-22/private-credit-crunch-risk-spurs-boe-s-stress-test-breeden-says

Traders Return to Fed Funds Wager That Surged During Repo Stress
https://www.bloomberg.com/news/articles/2026-04-22/traders-return-to-fed-funds-trade-that-surged-during-repo-stress

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

The Next 60 Days Will Change Everything Apr 24, 2026

Show notes

The global economy is being set right up for a brutal summer, according to the latest incoming data. Manufacturing is up right now, but the faster it goes today the worse it is going to be in the coming months. Services, the majority of the economy, are starting to get crushed – Europe, for example, it just set a 62-month low. This is the same general setup as last year which fed right into job losses, contracting incomes, rising unemployment...and more Pringles.

Eurodollar University's Money & Macro Analysis

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Ready to explore? Master monetary systems – past and future - with structure, clarity, and confidence. Visit https://eurodollar.university/membership

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SPG US PMIs
https://www.pmi.spglobal.com/Public/Home/PressRelease/8bdf1bb2dddf420e9c0e9d7e22f75c09

SPG EZ PMIs
https://www.pmi.spglobal.com/Public/Home/PressRelease/89d5df92554f42589275c1d9ddb5fde3

SPG Japan PMIs
https://www.pmi.spglobal.com/Public/Home/PressRelease/f65b1852016d49a5abde92a6b742f9bc

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

EU Sends Huge Oil Warning That is Spreading To The Rest of The World Apr 23, 2026

Show notes

European consumer sentiment is in "free fall", in the European govt's own words. DHL’s CEO warned the world is heading for a quote tipping point – in other words, the race against time. Economic sentiment just crashed. Unemployment in places like Scandinavia has jumped while in the UK job losses have returned alongside the appearance of one of the worse labor market outcomes, the dropout.

Eurodollar University's Money & Macro Analysis

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Check it out here: https://monetary-metals.com/snider

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DHL CEO Warns of ‘Tipping Point’ Risk If Oil Shortage Persists
https://www.bloomberg.com/news/articles/2026-04-21/dhl-ceo-warns-of-tipping-point-risk-if-oil-shortage-persists

European Union Flash Consumer Confidence April 2026
https://economy-finance.ec.europa.eu/document/download/11ffc7fa-f14b-4ed7-a44c-2e45fa85fec5_en?filename=Flash_consumer_2026_04_en.pdf

German Investor Outlook Drops to Worst Since 2022 on Iran War
https://www.bloomberg.com/news/articles/2026-04-21/german-investor-outlook-drops-to-worst-since-2022-on-iran-war

Germany Halves 2026 Growth Forecast After Hit From Iran War
https://www.bloomberg.com/news/articles/2026-04-22/germany-halves-growth-forecast-for-2026-after-hit-from-iran-war

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

The Strait of Hormuz Is Breaking the Global Dollar System Apr 23, 2026

Show notes

Countries REALLY don't want to go to DC and ask for a dollar swap line. One nation just did (according to WSJ) and it is one of the most critical redistribution centers in the eurodollar system. While the usual suspects go on about "dedollarization" and petroyuans, over here in the real world the consequences from lack of oil flow include a shortfall of dollars as much as oil.

Eurodollar University Money & Macro Analysis

U.A.E. Asks U.S. About a Wartime Financial Lifeline
https://www.wsj.com/world/middle-east/u-a-e-asks-u-s-for-a-wartime-financial-lifeline-3f9ea3a0

Qatar Warns of ‘Huge’ Economic Fallout From War in Coming Months
https://www.bloomberg.com/news/articles/2026-04-15/qatar-warns-of-huge-economic-fallout-from-war-in-coming-months

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