Eurodollar University

The credit market's terrible, horrible, no good, very bad week finishes off with yet another bankruptcy and more losses for the big Wall Street names. Worse, it's the same thing yet again: fraud and fake collateral. Plus, more bad news among BDCs has shares down. Dealer banks, however, continue to prepare for not only what we're seeing now, but looking ahead beyond it. 
Eurodollar University's Money and Macro Analysis
Join us for our free webinar Thursday March 26, 2026 at 6pm ET. 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. 
Sign up below:
https://eurodollar-university.com/home-page-web
New Credit Blowup in London Has Wall Street Chasing Billions
https://www.bloomberg.com/news/articles/2026-02-26/a-new-credit-blowup-in-london-has-wall-street-chasing-billions
MFS Creditors Warn of £930 Million Shortfall From Double Pledges
https://www.bloomberg.com/news/articles/2026-02-27/mfs-creditors-warn-of-930-million-shortfall-from-double-pledges
FS KKR Private Credit Fund Plunges to 2020 Low as Bad Loans Bite
https://www.bloomberg.com/news/articles/2026-02-26/fs-kkr-private-credit-fund-cuts-dividend-amid-rise-in-bad-loans

Just today over in Europe, two of the continent’s biggest insurance companies put out statements that show this thing has already gotten very serious. At the same time of course, European banks just bought another epic amount of govt bond safety, the second most in any month on record, after telling the ECB they’re highly risk averse and who can blame them with everything that keeps coming out. 
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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Insurers See Themselves Shielded From Private Credit Worries
https://www.bloomberg.com/news/articles/2026-02-26/axa-s-buberl-sees-concern-over-private-credit-says-exposure-low
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

Another day, several more critical development in the credit markets. Loss projections are soaring. A second fund stepped forward acknowledging asset sales (at lower prices). Big (related) shift in rates markets that ties in the Fed, yield curve, and everything else. Here we go over all three; what happened, what it all means. 
Eurodollar University's Money & Macro Analysis
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Eurodollar University's Free Guide (video) to interpreting market signals. Taken from the EDU membership, it will help you learn fundamentals necessary to deciphering and decoding market information in a useful manner, unlike everything you get from mainstream sources. 
https://web.eurodollar-university.com/home
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Private Credit Fears Deepen With UBS Warning of 15% Defaults
https://www.bloomberg.com/news/articles/2026-02-24/ubs-now-sees-private-credit-defaults-reaching-15-in-worst-case
Boaz Weinstein Warns ‘Wheels Coming Off’ Private Credit Funds
https://www.bloomberg.com/news/articles/2026-02-24/boaz-weinstein-warns-wheels-coming-off-private-credit-funds
Private Credit Fund Is Selling $477 Million of Assets at 94% Value as Industry Worries Continuehttps://www.bloomberg.com/news/articles/2026-02-24/new-mountain-bdc-is-selling-477-million-of-assets-at-94-value

Now it’s Jamie Dimon's turn, JP Morgan’s highly visible CEO is the latest to make the 2008 comparison. Following up last year’s cockroach quip this time saying a lot of people in the financial industry have done dumb things. But here’s the thing, markets all over the world are starting to price it. The worry showing up in safe havens is maybe this really is happening - right now. From Canadian bonds to Swiss francs, Japan, China and yes Treasuries.  
Eurodollar University's Money & Macro Analysis
------------------------------------------------------
Eurodollar University's Free Guide (video) to interpreting market signals. Taken from the EDU membership, it will help you learn fundamentals necessary to deciphering and decoding market information in a useful manner, unlike everything you get from mainstream sources. 
https://web.eurodollar-university.com/home
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Jamie Dimon says AI euphoria, record stocks and banks doing ‘dumb things’ could lead to another financial crisis
https://www.cnn.com/2026/02/24/economy/jamie-dimon-warning
The Viral Citrini Substack Post That Has Sparked New AI Worries on Wall Street
https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-tariffs-02-23-2026/card/the-citrini-substack-selloff-70cWx0scioiLradyuTRa
Yen Slides After Report on Takaichi Caution Over Rate Hikes
https://www.bloomberg.com/news/articles/2026-02-24/yen-extends-decline-after-report-on-takaichi-s-rate-hike-view
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU

In the wake of Blue Owl’s shocking announcement last week basically trapping retail investors in a private credit fund they don’t want to be in, signs of fallout from it are trickling in. To begin with, private continues to sell off, Blue Owl especially. But it’s not just private credit, we’re seeing stress in other corners of the risky credit markets, too, which has a number of prominent analysts and observers wondering if maybe we are seeing too many signs that look too much like 2007.  
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