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Former Twitter CEO Jack Dorsey's latest firm, Block, announced it is laying off as much as 40% of its current workforce. The company also said it would rely on AI moving forward to take up any additional work, sparking renewed fears the technology is about unleash a torrent of unemployment. Joblessness is definitely a major concern, but there is far more to it and the real story of Dorsey and Block.

Eurodollar University's conversation w/Steve Van Metre

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

The credit market's terrible, horrible, no good, very bad week finishes off with yet another bankruptcy and more losses for the big Wall Street names. Worse, it's the same thing yet again: fraud and fake collateral. Plus, more bad news among BDCs has shares down. Dealer banks, however, continue to prepare for not only what we're seeing now, but looking ahead beyond it.

Eurodollar University's Money and 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

New Credit Blowup in London Has Wall Street Chasing Billions
https://www.bloomberg.com/news/articles/2026-02-26/a-new-credit-blowup-in-london-has-wall-street-chasing-billions

MFS Creditors Warn of £930 Million Shortfall From Double Pledges
https://www.bloomberg.com/news/articles/2026-02-27/mfs-creditors-warn-of-930-million-shortfall-from-double-pledges

FS KKR Private Credit Fund Plunges to 2020 Low as Bad Loans Bite
https://www.bloomberg.com/news/articles/2026-02-26/fs-kkr-private-credit-fund-cuts-dividend-amid-rise-in-bad-loans

Just today over in Europe, two of the continent’s biggest insurance companies put out statements that show this thing has already gotten very serious. At the same time of course, European banks just bought another epic amount of govt bond safety, the second most in any month on record, after telling the ECB they’re highly risk averse and who can blame them with everything that keeps coming out.

Eurodollar University's Money & Macro Analysis

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Insurers See Themselves Shielded From Private Credit Worries
https://www.bloomberg.com/news/articles/2026-02-26/axa-s-buberl-sees-concern-over-private-credit-says-exposure-low

Deutsche Bank Leads EU Lenders’ Exposure to Shadow Banks
https://www.bloomberg.com/news/articles/2025-12-11/deutsche-bank-most-exposed-in-europe-to-shadow-banks-ubs-says

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