Almost 40% of Canadian real estate funds have restricted access to investor funds, and that includes potential payouts. It’s a sign of how deep the housing bust in Canada has gotten to be, but also applies to the situation that’s spreading across global markets where it comes to the shadow bank matter. In fact, the UK’s house of lords urged the Bank of England to look into private credit risks “as a matter of urgency.”

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. Mainstream education has left so many massive gaps on the most foundational concepts, making sense of everything is practically impossible otherwise. 
With our memberships, we’ll fill in everything that you’ve been missing. 

Join us: https://web.eurodollar-university.com/eurodollar-vsl-page
-----------------------------------------------------------------------------------------

Bloomberg Canadians Are Furious After Real Estate Funds Lock Up Their Money
https://www.bloomberg.com/news/articles/2026-01-12/fed-subpoenas-revive-sell-america-trade-on-autonomy-concerns

Bloomberg Private Credit Risks Need Urgent Attention, UK Lawmakers Say
https://www.bloomberg.com/news/articles/2026-01-09/lords-report-slams-uk-treasury-for-apathy-to-private-credit-risk

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

Call it GSE QE. The same day it was reported US housing construction fell to the lowest since 2020, the Trump administration announced it was going to direct the housing GSEs, Fannie mae and Freddie Mac, to buy $200 billion in mortgage securities. The idea is that those purchases will reduce mortgage borrowing costs and offer some aid to struggling households who might then consider buying a house previously out of their reach.  

Eurodollar University's conversation w/Steve Van Metre

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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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EDU LIVE PRESIDENT'S DAY FEBRUARY 2026

If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. 

To reserve your spot just go here but you better hurry, there aren't many spots left:
https://eurodollar-university.com/event-home-page
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Monetary Policy and the Mortgage Market
https://www.kansascityfed.org/Jackson%20Hole/documents/10336/schnabl_jh.pdf

Did the Federal Reserve’s MBS Purchase Program Lower Mortgage Rates?
https://www.federalreserve.gov/pubs/feds/2011/201101/201101pap.pdf

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

US consumers have basically stopped using their credit cards. According to the Fed’s latest data, revolving consumer credit declined again, the third time over the last seven months. And one of those other three was basically zero. There has been a clear change in attitude which means Americans aren’t just feeling pessimistic, they’re taking action about it. That is why consumer revolving credit is a critical cyclical signal, it draws together all the major components.  

Eurodollar University's Money & Macro Analysis

---------------------------------------------------------------------------------------------------------------------
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
---------------------------------------------------------------------------------------------------------------------

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

Blue Owl, a name we’ve gotten to know for all the wrong reasons, has been forced to come clean after getting sued by pretty much every class action securities lawyer in America, not only into admitting there was a wave of withdrawals but also promising to accommodate them over and above what it normally would. Not only does that further confirm the First stage of the credit cycle reverse, it actually sets up the second stage. In this video, we’re going to cover where everything in the credit cycle stands and and more importantly what it all means. 

Eurodollar University's Money & Macro Analysis

------------------------------------------------------------------------------

EDU LIVE PRESIDENT'S DAY FEBRUARY 2026

If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. 

To reserve your spot just go here but you better hurry, there aren't many spots left:
https://eurodollar-university.com/event-home-page

---------------------------------------------------------------------------------

Bloomberg Publicly Traded Private-Credit Funds Set for Worst Year Since 2020
https://www.bloomberg.com/news/articles/2025-12-29/publicly-traded-private-credit-funds-set-for-worst-year-since-2020

Bloomberg Blue Owl BDC Allows 17% Redemptions as Investors Storm Exit
https://www.bloomberg.com/news/articles/2026-01-07/blue-owl-bdc-allows-for-17-redemptions-as-investors-storm-exit

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

This is simply insane – new car sales among American households making $75k or less have crashed by 30% since 2019. Car prices soared. Incomes didn’t. They can’t afford a new car. But it’s not just the lowest incomes. Those making between $75k and $150k have bought 7% fewer cars than in 2019. This is a lot more than the K-shaped economy and to call it an affordability crisis seriously understates the problem. 

Eurodollar University's Money & Macro Analysis

------------------------------------------------------------------------------

EDU LIVE PRESIDENT'S DAY FEBRUARY 2026

If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. 

To reserve your spot just go here but you better hurry, there aren't many spots left:
https://eurodollar-university.com/event-home-page

---------------------------------------------------------------------------------

Fox Business Fed Governor Stephen Miran says more than 100 basis points in rate cuts justified this year
https://www.foxbusiness.com/media/fed-governor-stephen-miran-says-more-than-100-basis-points-cuts-justified-year

Bloomberg Slowing Auto Sales Stoke Concern Over Near-Record Car Prices
https://www.bloomberg.com/news/articles/2026-01-05/us-auto-sales-poised-to-slip-as-middle-class-buyers-retreat

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

Commodities are going nuts right now, with copper now parabolic joining silver on the crazy train. Gold is lagging behind both, which is not a good sign for each’s ability to stay on the upside. Meanwhile, at the complete other end of the commodity spectrum is oil, not just in terms of prices but key spreads in Middle East markets. One of those just flipped for the first time in years, signaling growing worries about global demand.  

Eurodollar University's Money & Macro Analysis

---------------------------------------------

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. Mainstream education has left so many massive gaps on the most foundational concepts, making sense of everything is practically impossible otherwise. 
With our memberships, we’ll fill in everything that you’ve been missing. 

Join us: https://web.eurodollar-university.com/eurodollar-vsl-page

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

Loss of momentum isn’t just happening in the US, it is very well synchronized globally with practically the same pattern showing up everywhere. Updates from neighbors Canada and Mexico show a deepening downturn at the end of last year, especially Mexico putting up its deepest contraction since April. Over in Europe, Germany fell back bringing Italy down with it. Plus, global bellwether Switzerland experienced its own “unexpectedly” sharp setback. 

Eurodollar University's Money & Macro Analysis

---------------------------------------------------------------------------------------------------------------------
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
---------------------------------------------------------------------------------------------------------------------

SPG Canada Manu
https://www.pmi.spglobal.com/Public/Home/PressRelease/78c6ddcb80cf4ef0b14fc9dc3c091c86

SPG Mexico Manu
https://www.pmi.spglobal.com/Public/Home/PressRelease/47f22c8de61b4d54965a25c3d3c417ca

SPG Germany Manu
https://www.pmi.spglobal.com/Public/Home/PressRelease/bd3c462f68704c5ea1613f2fce2879fd

SPG Italy Manu
https://www.pmi.spglobal.com/Public/Home/PressRelease/be3b992b4ebb4b4db3030abaff5e0bc5

Bloomberg Swiss Manufacturing Contracted More Than Anticipated in December
https://www.bloomberg.com/news/articles/2026-01-05/swiss-manufacturing-contracted-more-than-anticipated-in-december

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

The number of legendary investors calling this an AI bubble continues to climb, with Howard Marks, co-founder of Wall Street giant Oaktree flatly stating if AI isn’t conforming to the historical bubble pattern, it will be a first. But there are some key differences within that pattern that just aren’t being fully appreciated. Starting with how this AI bubble isn’t actually about the stock market. 

Eurodollar University's conversation w/Steve Van Metre

------------------------------------------------------------------------------

EDU LIVE PRESIDENT'S DAY FEBRUARY 2026

If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. 

To reserve your spot just go here but you better hurry, there aren't many spots left:
https://eurodollar-university.com/event-home-page

---------------------------------------------------------------------------------

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

Bull steepening on the Treasury curve, falling energy prices especially gasoline, the final look at the US economy in 2025 shows it losing momentum again as the new year begins. In fact, even mainstream Economists, the most optimistic bunch you’ll find, they’re growing concerned again, with Moody’s chief economist saying, quote, “nothing else can go wrong” because in his words, we’re already on the edge of recession. 

Eurodollar University's Money & Macro Analysis

---------------------------------------------------------------------------------------------------------------------
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
---------------------------------------------------------------------------------------------------------------------

S&P Global US Manu PMI
https://www.pmi.spglobal.com/Public/Home/PressRelease/7ca2ebfa9cce4c768e0cf449ba966293

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

There was an explosion, a record spike – and it’s not even close - in lending by European banks to European shadow banks in October and November. This spike in European bank lending wasn’t some newfound enthusiasm to take on risks. It was emergency lending, a shadow bank shadow bailout which was every bit the other side of the US$ repo tightness I’ve been telling you about. This surge in shadow bank borrowing in euros shows how widespread and global funding pressure has already been.  

Eurodollar University's Money & Macro Analysis

------------------------------------------------------------------------------

EDU LIVE PRESIDENT'S DAY FEBRUARY 2026

If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. 

To reserve your spot just go here but you better hurry, there aren't many spots left:
https://eurodollar-university.com/event-home-page

---------------------------------------------------------------------------------
The Banker Explainer: Why the IMF fears contagion from lenders’ shadow bank exposure
https://www.thebanker.com/content/0ec3d3f5-62bc-4aa1-8202-9cccb6ebc2a3

Bloomberg Deutsche Bank Leads EU Lenders’ Exposure to Shadow Banks
https://www.bloomberg.com/news/articles/2025-12-11/deutsche-bank-most-exposed-in-europe-to-shadow-banks-ubs-says

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