Eurodollar University Holy Sh*t… Did You See What Just Happened in The Markets?!
Dec 2, 2025
December kicks off with a risk-off atmosphere in financial markets, highlighted by Bitcoin's steep drop. The Chicago ISM report reveals a shocking decline in new orders and employment, raising concerns about economic health. The national ISM manufacturing index also shows contraction, while S&P Global uncovers a troubling inventory surplus. Trade finance risks and ratings warnings add to the unease, indicating potential strain across North America. The discussion wraps up by linking these trends to pressures on Bitcoin and stocks.
AI Snips
Chapters
Transcript
Episode notes
Goods Economy Is In A Payback Phase
- U.S. goods activity shows a clear payback after a summer distortion driven by tariff front‑loading.
- Backlogs, new orders, and employment plunged, signaling the rebound never materialized.
Crypto Downturn Fueled By Macro Risk-Off
- Risk assets like Bitcoin are being sold as managers lock in summer gains amid growing economic fears.
- Liquidations and year‑end rebalancing amplify crypto downturns when macro sentiment worsens.
Chicago PMI Shows Employment Collapse
- The ISM Chicago survey showed nowhere were firms adding workers in November.
- Not a single respondent reported raising employment, an extreme sign of labor weakness.