Credit Crisis Stage 2 has been observed. Stage 1 is when money flows out of a bubble but is roughly still balanced meaning some uncomfortable fund managers but no big consequences like forced selling. Stage 2 is when that balance unbalances leading to bigger problems like forced selling. Today, we got confirmation of forced selling for the first time...and a LOT more.

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This is the kinds of material we've been covering - at length and in depth - at Eurodollar University in our Deep Dive Analysis and memberships. It's the background, the core concepts, the unique insight that allows us to not just stay on top of everything, but actually understanding what's going on and why to then anticipate roughly where the markets, the economy, the entire world is heading.

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Go from getting blindsided by the markets to reading the eurodollar signals weeks before they hit. Try it all risk-free for 14 days.

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Blue Owl Halts Redemptions on Private Credit Retail Fund
https://www.bloomberg.com/news/articles/2026-02-18/blue-owl-loan-sale-raises-1-4-billion-for-investor-payouts

Blue Owl permanently halts redemptions at private credit fund aimed at retail investors
https://www.ft.com/content/b2f299f6-2a82-4a43-bcbf-86cac3937550

Blue Owl BDC Allows 17% Redemptions as Investors Storm Exit
https://www.bloomberg.com/news/articles/2026-01-07/blue-owl-bdc-allows-for-17-redemptions-as-investors-storm-exit

Stock market volatility has been moving higher since Christmas Eve as this undercurrent of anxiety refuses to go away. Some of it is AI related, sure, but deep down there is this nagging feeling the economy isn’t turning the corner like they all said it would. So where do you go to find clues whether or not that has been the case. A perfect place to start is global bellwether Switzerland – which just confirmed it is in recession.

Eurodollar University's Money & Macro Analysis

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EDU's Memberships and Subscriptions.

Go from getting blindsided by the markets to reading the eurodollar signals weeks before they hit. Try it all risk-free for 14 days.

https://web.eurodollar-university.com/eurodollar-vsl-page-a

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

After another month of even more deeply troubling banking data from China, S&P is wondering if the Chinese may be facing their Japanification moment as a key central bank rate just moved to a record low. Now, I don’t think they’re facing it; China is clearly there and the latest data confirms as much. The time scale is different, but when you’re talking about the biggest banks in the world – and the top four are all Chinese – you have to pay attention.

Eurodollar University's Money & Macro Analysis

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