Eurodollar University

We’ve been covering the macro housing bust for some time, and while it’s still there another major problem has come up and for the same reasons. Mortgage delinquencies and even foreclosures have come into the conversation, especially in places like Texas. Rates continue to tick lower but no one is buying houses, home price growth has completely stalled, and now more borrowers are falling behind on their loans. 
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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NAR Existing-Home Sales Report Shows 1.7% Increase in February
https://www.nar.realtor/newsroom/nar-existing-home-sales-report-shows-1-7-increase-in-february
Cities With the Highest Mortgage Delinquency Rates
https://wallethub.com/edu/cities-mortgage-delinquency-rates/141263
VantageScore CreditGauge™ January 2026: Mortgage Delinquencies Rise as Early-Stage Credit Stress Broadens Across Borrowers
https://vantagescore.com/resources/knowledge-center/press_releases/vantagescore-creditgauge-january-2026-mortgage-delinquencies-rise-as-early-stage-credit-stress-broadens-across-borrowers
Mortgage Delinquencies Increase in the Fourth Quarter of 2025
https://www.mba.org/news-and-research/newsroom/news/2026/02/12/mortgage-delinquencies-increase-in-the-fourth-quarter-of-2025
HOUSEHOLD DEBT AND CREDIT REPORT
https://www.newyorkfed.org/microeconomics/hhdc.html
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU

Chaos at the Asian open last night with uncontrolled panic buying sending oil prices up to as high as $120 per barrel. Thankfully, they backed down and actually ended the day down by 8%. Still, that wild ride isn't good, indicating the world is really struggling with the oil challenge. We're already seeing significant fallout across the world, from dollars to stocks. 
Eurodollar University's Money & Macro Analysis
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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
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Oil Near $120 Sparks ‘Stampede to Sell’ in Stocks and Bonds
https://www.bloomberg.com/news/newsletters/2026-03-09/oil-near-120-sparks-stampede-to-sell-in-stocks-and-bonds
Broad agreement in G7 not to release oil reserves just yet, says G7 official
https://www.reuters.com/business/energy/broad-agreement-g7-not-release-oil-reserves-just-yet-says-g7-official-2026-03-09/
Oil Market Chaos to Deepen as More Gulf Giants Cut Output
https://www.bloomberg.com/news/articles/2026-03-08/oil-market-chaos-set-to-deepen-as-more-gulf-giants-cut-output
$100 Oil Shock Set to Strain Asia’s Cash-Strapped Governments
https://www.bloomberg.com/news/articles/2026-03-09/-100-oil-shock-set-to-strain-asia-s-cash-strapped-governments
Japan’s Nikkei Enters Correction as Oil Spikes, Iran Fears Weigh
https://www.bloomberg.com/news/articles/2026-03-08/japan-equities-set-to-resume-fall-on-escalating-middle-east-woes
Price Caps, Rationing and Stockpiling: Alarm Swells Over Oil Disruptions
https://www.nytimes.com/2026/03/09/business/iran-oil-gas-asia.html
Yardeni Raises Odds of US Market Meltdown to 35% on Iran War
https://www.bloomberg.com/news/articles/2026-03-09/yardeni-raises-odds-of-markets-meltdown-to-35-on-iran-war-risks
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU

Not one but two negative payrolls. That’s what we got from the latest update on the employment situation, a double dose of flat Beverage amidst a historic week in the oil market and another major escalation in the private credit bust. And all these things go together. The looming oil shock is coming at the worst possible time with employment already in this bad shape. And private credit, well, as I’ve been telling since last summer, negative payrolls would change everything. 
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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https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU

Chaos in the energy patch sent both prices and spreads exploding. It was the latter - the blowout in spreads - that is now the most concerning for what it says about this growing oil shock. At almost historic levels, just a nickel short of setting a new record, this kind of intensity and upset is alarming. Here's why and what you need to know.
Eurodollar University's Money & 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

BlackRock's flagship private credit fund is getting hit with so many withdrawals the company has no choice but to start blocking these requests. It's another major escalation pointing to even more anxiety and maybe some panic in the credit market. The fact this shows up on a day when payrolls went negative yet again and oil has gone nuclear should not be dismissed, either. 
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
BlackRock Private Debt Fund Slumps After Slashing Dividend
https://www.bloomberg.com/news/articles/2026-03-05/blackrock-slashes-another-private-loan-value-from-100-to-zero
BlackRock Slashed Private Loan Value From 100 to Zero
https://www.bloomberg.com/news/articles/2026-02-27/blackrock-private-debt-fund-slumps-after-slashing-dividend
BlackRock limits redemptions at private credit fund as outflows swell
https://www.ft.com/content/2336fccb-745d-4f3b-8ade-d84f0027e70f