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

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

An unprecedented slump in Chinese investment. That’s what one media outlet called it. I don’t think slump is the right word. Crash might be a more appropriate one. While that tends to be overused, the numbers show not in this case. Especially when they are backed up by a crash in household lending in China, too, as Chinese banks just put up more grim stats. And all of this confirmation of what I told you months ago, the something big has changed over there this summer.

Eurodollar University's Money & Macro Analysis

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Bloomberg China’s Investment Crash Puzzles Economists and Threatens Growth
https://www.bloomberg.com/news/articles/2025-11-14/china-s-investment-crash-puzzles-economists-and-threatens-growth

Bloomberg PBOC Justifies Loan Slowdown Following Record Contraction
https://www.bloomberg.com/news/articles/2025-11-11/pboc-justifies-loan-slowdown-following-record-contraction

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Big moves across the risk markets this week. Bitcoin and crypto hammered. Repo back on the menu. WTI full contango (briefly). Plus, top officials at the New York Fed soft confirming the start of the next not-QE QE. What does it all mean?

Eurodollar University's conversation w/Steve Van Metre

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. Mainstream education has left so many massive gaps on the most foundational concepts, making sense of everything is practically impossible otherwise. With our memberships, we’ll fill in everything that you’ve been missing.

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