While everyone else is glued to Nvidia, the results from Home Depot and Target will have far more to say about the markets and a lot more. Plus others like TJ Maxx, Bitcoin and the surprising Fed minutes that has a lot to say about the status of December's rate cut.

Bloomberg Wary Stock Bulls Eye Walmart, Target for Clues to Consumer Health
https://www.bloomberg.com/news/newsletters/2025-11-17/wary-stock-bulls-eye-walmart-target-for-clues-to-consumer-health?srnd=phx-economics-v2

Economic Times TGT stock falls today as Target cuts guidance and predicts weak holiday sales
https://economictimes.indiatimes.com/news/international/us/tgt-stock-falls-today-as-target-cuts-guidance-and-predicts-weak-holiday-sales/articleshow/125437666.cms?from=mdr

Read more at:
https://economictimes.indiatimes.com/news/international/us/tgt-stock-falls-today-as-target-cuts-guidance-and-predicts-weak-holiday-sales/articleshow/125437666.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

YahooFinance Target cuts earnings guidance, warns about high prices, and predicts a weak holiday season
https://finance.yahoo.com/news/target-cuts-earnings-guidance-warns-about-high-prices-and-predicts-a-weak-holiday-season-113001475.html

CNBC TJ Maxx and Marshalls owner hikes outlook as CEO says holiday season is off to a ‘strong start’
https://www.cnbc.com/2025/11/19/tjx-companies-tjx-earnings-q3-2026.html

FOMC Minutes
https://www.federalreserve.gov/monetarypolicy/files/fomcminutes20251029.pdf

We went from the economy is strong and resilient, credit markets are fine reaching for yield to big names like Jamie Dimon and now so-called bond king Jeffrey Gundlach openly talking about cockroaches and garbage lending that are looking more like 2006 and 2007 every day. We’ve even got news of more hedge fund redemptions. Unlike a few months ago, now all of a sudden the possibilities seem plausible to people who forever refused to even consider the idea.

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Bloomberg Jeffrey Gundlach Warns of ‘Garbage Lending’ as Private Credit Booms
https://www.bloomberg.com/news/articles/2025-11-17/gundlach-slams-garbage-lending-in-private-credit-market

Bloomberg Blue Owl Plunges to 2023 Low After Blocking Exit From Fund
https://www.bloomberg.com/news/articles/2025-11-17/blue-owl-plunges-to-2023-low-after-blocking-exit-from-early-fund

Bloomberg Funding Market Strains Spur Wall Street Calls for More Action From Fed
https://www.bloomberg.com/news/articles/2025-11-13/funding-market-strains-spur-wall-street-calls-for-more-action-from-fed

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

The European labor market is on the cusp of its own flat Beveridge moment. That danger was amplified by the third quarter contraction in the Swiss economy, which, as we know, is a key leading global indicator. And if all that wasn’t enough, a group of German Economists, of all people, just tore into the mainstream European narrative of Europe being in a good place. They even went so far as correctly, of course, crap all over the Berlin bazooka.

Eurodollar University's Money & Macro Analysis

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euronews Weak eurozone growth meets flat jobs market as bankruptcies surge
https://www.euronews.com/business/2025/11/14/weak-eurozone-growth-meets-flat-jobs-market-as-bankruptcies-surge

Bloomberg Merz Advisers Revise 2026 German Growth Forecast to Below 1%
https://www.bloomberg.com/news/articles/2025-11-12/merz-advisers-revise-2026-german-growth-forecast-to-below-1

DW Germany news: Economic experts call for change of course
https://www.dw.com/en/germany-news-economic-experts-call-for-change-of-course/live-74708934

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