Eurodollar University

Five major developments in the credit crisis/bust. BlackRock, JP Morgan, Blue Owl, Apollo and another big run on a big fund. Private credit didn't go anywhere, the situation keeps escalating and each one of these represents more significant confirmation of the shift toward toxic waste status. From asset valuations to more losses at big names, the behavior has radically changed. 
Eurodollar University Money & Macro Analysis
Gundlach Warns Investors Will Lose Money on Private Credit
https://finance.yahoo.com/markets/stocks/articles/gundlach-warns-investors-lose-money-200041360.html
BlackRock Private Credit Fund Cuts Asset Value on Markdowns
https://www.bloomberg.com/news/articles/2026-05-07/blackrock-private-debt-fund-cuts-asset-value-on-loan-markdowns
JPMorgan-Led Group Eyes $500 Million Loss on Qualtrics Debt
https://www.bloomberg.com/news/articles/2026-05-06/jpmorgan-led-group-eyes-500-million-loss-on-qualtrics-debt
Blue Owl adviser sued over allegedly inflating fund values, charging excessive fees
https://www.reuters.com/legal/litigation/blue-owl-adviser-sued-over-allegedly-inflating-fund-values-charging-excessive-2026-04-28/
Apollo CEO Rowan warns of market correction, slams ‘egregious’ practices at rival insurers
https://www.cnbc.com/2026/05/06/apollo-ceo-rowan-market-correction-rival-insurers.html
Apollo to Give Investors Daily Pricing on Private Credit By September
https://www.wsj.com/finance/investing/apollo-to-give-investors-daily-pricing-on-private-credit-by-september-44a2c84b
$10 Billion Golub Fund Caps Outflows After Requests for 8.5%
https://www.bloomberg.com/news/articles/2026-05-07/-10-billion-golub-fund-caps-outflows-after-requests-for-8-5

McDonald’s CEO says the consumer environment is certainly not improving and may be getting a little worse after the company reported better than expected past results. Those mainly before the gas prices jumped. Jumping over to big ticket items like appliances, Whirlpool, the company that employs the Maytag Man, it compared the current consumer climate to  – not joking – 2008-09 as the cracks of demand destruction are indeed beginning to grow wider and becoming more noticeable. The Maytag man is somewhere right now polishing his resume. 
Eurodollar University's Money & Macro Analysis
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McDonald’s CEO says consumer spending could be ‘getting a little bit worse’
https://www.cnbc.com/2026/05/07/mcdonalds-mcd-q1-2026-earnings.html
Earnings call transcript: Whirlpool Q1 2026 results fall short, stock drops
https://ca.investing.com/news/stock-market-news/earnings-call-transcript-whirlpool-q1-2026-results-fall-short-stock-drops-93CH-4618415
April 2026 National Poll: Iran, the economy, and the 2026/2028 elections
https://www.generationlab.org/state-of-young-people
Challenger Gray & Christmas April 2026
https://www.challengergray.com/blog/challenger-report-april-job-cuts-rise-38-from-march-ytd-cuts-down-50/
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Twitter: https://twitter.com/JeffSnider_EDU

The stock market was not happy with HSBC. The banking giant reported what should have been a small nothing, a $400mm loss on a loan to an Irish entity with a name that sounds like a Star Wars droid. AGF WHCO 1-A5. But that $400mm loan and loss ended up pulling back the curtain a little more on the current credit crisis. As did the comments from Apollo’s CEO, where he used the words “contagion” and “egregious.” 
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. 
Ready to explore? Master monetary systems – past and future - with structure, clarity, and confidence. Visit https://eurodollar.university/membership
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https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU

According to the Energy Information Administration, the national average price for gasoline was $4.26 per gallon at the end of April and it was largely stable throughout last month. Not good. Certainly painful. But wholesale gas price has exploded higher in recent weeks and that means retail gas prices are about to do the same thing. The wholesale cost points to a nationwide pump price of $5. Not next month, soon.  
Eurodollar University's Money & Macro Analysis
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Just a Few Stocks Driving S&P 500 Rally Triggers Dot-Com Bubble Flashbacks
https://www.bloomberg.com/news/articles/2026-05-05/dot-com-bubble-flashbacks-triggered-by-lack-of-s-p-500-breadth
RCM/TIPP Steadies In May As Stress Eases
https://www.realclearmarkets.com/articles/2026/05/05/rcmtipp_steadies_in_may_as_stress_eases_1180584.html
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU

We know how central bankers are just itching to raise policy rates and all over the world, led primarily by those in Europe. The hawkishness is already spreading. Just today, an official from South Korea’s central bank said, hey, oil prices up we need to think about some hikes, too. But what are the markets pricing? It’s not what you’d think.  What do the curves look like for now but also beyond the near-term? In a word, frown.     
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
----------------------------------------------------------------------------------
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU