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Eurodollar University
The episodes Chorus has covered, newest first: what was said, by whom, with verified quotes.
European Banks Just Did What They Do Before Every Crisis...
Jeff Snider argues that European banks are pulling back on lending and shifting toward sovereign bonds, citing ECB surveys that show tightening credit and falling loan access for firms, alongside…
Elon Musk Warns Banks Have STOPPED Lending to AI Companies
Jeff Snider, host of Eurodollar University, argues that debt markets are pulling back from funding AI infrastructure, backing Elon Musk's warning that lenders have largely stopped financing…
Airlines Just Sent a TERRIFYING Warning About the Economy
Jeff Snider and Steve Van Metre argue that airline distress is an early warning of an energy-driven downturn.
The Credit Cycle Just Flipped (The Stock Market Is Next)
Jeff Snider argues that the credit cycle has turned, with stress starting in the weakest corners of credit: CCC spreads have risen nearly 300bp since early September to about 1,340bp, leveraged…
Something Very Bad Is Happening to Meta's Debt
Jeff Snider argues that Meta's debt is showing stress tied to AI infrastructure spending: future computing and AI commitments rose to roughly $825B while quarterly free cash flow turned negative,…
Anthropic Has $750 Billion in Commitments… and Just $17 Billion in Revenue
Jeff Snider argues that Anthropic's reported financials do not reconcile: leaked S-1 figures show about $17B in revenue growing 45% (slowing from above 50%), roughly $80B in paper losses in the…
Home Sales Just Fell Below 2008 Levels… And It's Getting Worse
Jeff Snider argues that the US housing market is gridlocked rather than temporarily delayed, pointing to NAR's pending home sales index falling 7.3% in September to 66, about 13% below a year…
Gas Stations Just Confirmed the Worst-Case Scenario for the Economy
Jeff Snider and Steve Van Metre argue that US consumers are pulling back, even though headline retail sales look strong.
I've Never Seen Anything Like This… Until Now
Jeff Snider argues that the US economy has been far weaker since 2022 than official data showed, because a series of benchmark revisions removed more than 5% of retail sales from 2022 onward and cut…
You Won't Believe What Just Happened in the Bond Market
Jeff Snider argues that the September bond selloff was driven by technical factors (seasonal yield drift, quarter-end dealer balance-sheet and repo constraints, and self-reinforcing liquidations)…
The Private Credit Crisis Just Went Public...
Jeff Snider argues that the private credit stress has moved into public markets, with CCC junk bond spreads nearing 1,300 basis points and already above the March 2023 banking-crisis highs, while…
Paul Tudor Jones Just Issued a Terrifying Warning for 2027
Paul Tudor Jones and Jeff Snider argue that US markets face a difficult 2027, with Tudor Jones focusing on net equity flows that he calls the most negative since 2002 for US stocks once IPOs,…
OpenAI's Money Problem Is WAY Worse Than You Think
Jeff Snider and Steve Van Metre argue that the AI boom mirrors the dot-com bubble, with money-losing companies, creative accounting and increasingly debt-funded data center buildouts.
Iron Is Warning Us About What's Coming in 2027
Jeff Snider argues that iron ore's slide to about $91 per ton, a four-year low with Chinese port inventories near 166 million tons, signals a weakening economy heading into 2027, since iron tracks…
This Is What Consumers 'Always' Do Before a Recession
Jeff Snider argues that August's apparently strong US consumer spending is front-loaded demand rather than durable strength.
Oil CEOs Just Issued a Really Grim Warning
Jeff Snider argues that oil CEOs' warnings reveal a fragile supply system in which depleted Western inventories turn ordinary disruptions into large price swings.
Jamie Dimon Just Made A Shocking Interest Rate Prediction (Not What You Think)
Jeff Snider of Eurodollar University argues that the late-September 2023 Treasury selloff, which pushed yields to multi-year highs, was largely calendar-driven and likely not the start of a…
Private Credit Investors Want Their Money Back… And It’s Getting Worse
Jeff Snider and Steve Van Metre argue that private credit is facing a growing wave of investor redemption requests, with Blue Owl Technology Income Corp seeing requests to withdraw 39% of its shares…