Eurodollar University

China's 10-year government bond yield just reached a 20-year low. UST yields are moving down again. What does it all mean; more importantly why do we need to care? It isn't just the signal bond curves provide, it is just as much the lack of direct access to the information we truly need. Eurodollar University's Money & Macro AnalysisFOMC Transcript February 1999https://www.federalreserve.gov/monetarypolicy/files/FOMC19990203meeting.pdfBIS CGFS Papers No 65 US dollar funding: an international perspectivehttps://www.bis.org/publ/cgfs65.pdfhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Evidence continues to show we're in half a recession already. There is a huge discrepancy between the "strong" US employment in the media and what's actually happening. Even mainstream sources are being forced to deal with how different the jobs market is to those actually experiencing it. These aren't isolated cases or stories, the data backing them up continues to pile up. Eurodollar University's Money & Macro AnalysisCNBC Economists say the labor market is strong — but job seekers don’t share that confidence. Here’s whyhttps://www.cnbc.com/2024/02/02/why-it-feels-so-hard-to-get-a-job-right-now.htmlInsight Global https://www.prnewswire.com/news-releases/unemployed-and-unmotivated-new-survey-finds-that-over-half-of-unemployed-americans-are-feeling-the-job-hunt-burnout-big-time-301909524.htmlReddit r/jobshttps://www.reddit.com/r/jobs/comments/16aetk9/the_job_market_is_awful_2023/https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Gold is high but not on Waller. Fed Governor Chris Waller seems to have sparked the most recent jump in the metal, with people jumping all over their inference of some incoming Reverse Operation Twist. Untangling the fedspeak from so many huge misconceptions about gold - it is a TERRIBLE inflation hedge, as you'll see - in order to make sense of another legit red flag. Eurodollar University's Money & Macro AnalysisFRB Christopher Waller Thoughts on Quantitative Tightening, Including Remarks on the Paper "Quantitative Tightening around the Globe: What Have We Learned?"https://www.federalreserve.gov/newsevents/speech/waller20240301a.htmhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

It's bad enough that China's shakiest real estate firms are going to be creating big losses and not just for other Chinese financials. Now comes word the last remaining investment grade developer is rumored to be experiencing liquidity trouble, too. It is a sign of further progress - in the wrong direction. We need to understand what it means when Beijing is this impotent.Eurodollar University's Money & Macro Analysis

Digital technology is revolutionizing every aspect of our lives, now including money. The first in a three-part series as Jeff travels to ETH Denver, the world's preeminent Ethereum conference, to start digging in to digital with those who are actually doing it, the insiders. Up first, world-renowned scholar, investor and, yes, philosopher-historian Manny Rincon Cruz.Eurodollar University's conversations w/Manny Rincon Cruz

Eurodollar University's conversations w/Steve Van Metrehttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Eurodollar University's Money & Macro AnalysisAP US national debt hits record $34 trillion as Congress gears up for funding fighthttps://apnews.com/article/national-debt-deficits-biden-economy-inflation-record-b4258704f830c7f6e9c5e693748216cbMilton Friedman Newsweek “Deficits and Inflation"https://miltonfriedman.hoover.org/internal/media/dispatcher/214251/fullhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Unlike most terms thrown around Economics, 'globally synchronized' is no joke. It also isn't a recent development. Throughout modern history, when a sizable portion of the world starts to show contraction it will spread throughout the rest with very few spared. It is a poignant reminder given how the same is happening right now. Eurodollar University's Money & Macro AnalysisBoJ New Procedures for Money Market Operations and Monetary Easing Mar 19, 2001https://www.boj.or.jp/en/mopo/mpmdeci/mpr_2001/k010319a.htmSpeech given by Kazuo Ueda, Member of the Policy Board of the Bank of Japan, at Council on Foreign Relations in New York, May 11, 2001 https://www2.boj.or.jp/archive/en/announcements/press/koen_2001/ko0105a.htmSpeech by Dr. Willem F. Duisenberg, President of the European Central Bank, at Central Bankers' Panel at the International Monetary Conference, Singapore, 4 June 2001https://www.ecb.europa.eu/press/key/date/2001/html/sp010604.en.htmlFOMC Transcript November 1979https://www.federalreserve.gov/monetarypolicy/files/FOMC19791120meeting.pdfSilent Revolution: The International Monetary Fund, 1979–89,https://www.imf.org/external/pubs/ft/silent/index.htmhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

To get the rest of the Lyn Alden, George Gammon conversation and a whole lot more, become a Eurodollar University member or DDA subscriber. You can find the information about those here:https://www.eurodollar.university/sales-page-1Japan is in recession, one that is getting worse. Japanese officials tell you not to believe your lying eyes, inflation is the greatest risk. All the data conclusively shows it is not, that Japan's contraction is a product of global forces that just so happen to be taking care of Japanese "inflation" risks, too. That's NOT a good sign. Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

To get the rest of the Lyn Alden, George Gammon conversation and a whole lot more, become a Eurodollar University member or DDA subscriber. You can find the information about those here:https://www.eurodollar.university/sales-page-1How accurate are market tools like spreads? If you're looking for absolute precision, you're in the wrong business. These measures are highly useful for broad purposes. Unfortunately, history shows those point in the direction of serious general economic misadventures. Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU