Target is throwing in the towel on its previous losing strategy. Like many businesses, it tried to raise prices only to find its customers going elsewhere, largely to Walmart. Now Target is slashing its prices including on the towel it just threw in. The retail giant simply has no other choice given the sudden change in consumer behavior we’re seeing across the economic landscape.

Eurodollar University's Money & Macro Analysis

Target cuts prices on 3,000 items as stubborn inflation keeps US consumers on edge
https://www.reuters.com/business/target-slashes-prices-more-than-3000-products-2026-03-11/

Fewer Americans Plan to Travel After Surging Fuel Costs Hit Budgets
https://www.bloomberg.com/news/articles/2026-04-02/fuel-price-rise-on-iran-war-has-americans-putting-vacations-on-hold

Numerator Consumers React to Rising Gas Prices
https://www.numerator.com/resources/blog/consumers-react-rising-gas-prices/

FRBNY SURVEY OF CONSUMER EXPECTATIONS
https://www.newyorkfed.org/microeconomics/sce#/

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Several countries across Asia are confirming they experienced major dollar funding losses last month amidst a cash crunch on surging demand for money to buy oil. Officials in Taiwan, Indonesia, India and in other places have had to scramble to contain the monetary pressure, causing several of them to expend significant reserves just to keep their currency values from plunging. Or, plunging more than they did.

Eurodollar University's Money & Macro Analysis

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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.

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Taiwan’s Foreign Reserves Drop Most Since 2011 on Intervention
https://www.bloomberg.com/news/articles/2026-04-08/taiwan-s-foreign-reserves-drop-most-since-2011-on-intervention

Bank Indonesia Prioritizes Stability as Rupiah Hits Record Lows
https://www.bloomberg.com/news/articles/2026-04-07/bank-indonesia-prioritizes-stability-as-rupiah-hits-record-lows

Indonesia’s FX Reserves Hit Two-Year Low on Rupiah Defense
https://www.bloomberg.com/news/articles/2026-04-08/indonesia-fx-reserves-hit-nearly-two-year-low-on-rupiah-defence

India’s Central Bank Holds Rate, Vows to Curb Volatile Rupee
https://www.bloomberg.com/news/articles/2026-04-08/india-keeps-key-rate-steady-as-weak-rupee-takes-center-stage

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Airports are canceling flights right now due fuel shortages and fears they will worsen. Airlines are including those in the US are already raising bag fees and other costs trying to pass along the doubling in jet fuel prices to passengers. Meanwhile, the international energy agency’s chief says the current oil crisis is worse than 1973, 1979, and 2022 combined. The thing is, that sounds crazy but sadly it’s not and we’re just now seeing the preliminary effects of Hormuz at the forefront in air travel.

Eurodollar University's Money & Macro Analysis

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.

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World losing more barrels of oil each day than in two 1970s crises combined, IEA chief says – video
https://www.theguardian.com/world/video/2026/mar/23/world-losing-more-barrels-of-oil-each-day-than-in-two-1970s-crises-combined-iea-chief-says-video

IEA chief: current oil and gas crisis worse than 1973, 1979, 2022 together
https://www.reuters.com/business/energy/iea-chief-current-oil-gas-crisis-worse-than-1973-1979-2002-together-2026-04-07/

Korean travelers left stranded as Mideast turmoil pushes airlines to slash routes
https://www.koreaherald.com/article/10711811

Jet fuel supply concerns grow as war with Iran drags on, airlines cut flights
https://www.cnbc.com/2026/04/07/iran-war-jet-fuel-airlines.html

Italy Sets Jet Fuel Limits at Some Airports on Supply Gap
https://www.bloomberg.com/news/articles/2026-04-05/italy-sets-jet-fuel-limits-at-some-airports-on-supply-shortage

Delta Increases Checked Bag Charges by Up to $50 After Fuel Costs Rise
https://www.bloomberg.com/news/articles/2026-04-07/delta-air-will-boost-fees-on-baggage-amid-surging-oil-prices

United Airlines hikes checked bag fee by $10 as fuel prices continue to climb
https://www.cnbc.com/2026/04/02/united-airlines-raises-checked-bag-fees-fuel-prices-climb.html

Jet Fuel Spot Prices Over 60 Days
https://www.airlines.org/dataset/argus-us-jet-fuel-index/

Iran War Fallout: Airlines Slash Thousands Of Flights Amid Global Fuel Shortages
https://simpleflying.com/iran-war-airline-flight-cancellations-fuel-shortage/

FRBNY SCE
https://www.newyorkfed.org/microeconomics/sce#/

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Jamie Dimon, the head of the country’s largest bank, wrote his annual shareholder letter accompanying the firm’s annual report. Filled with numerous charts touting the company’s successes and thousands of words reinforcing them, it is a single one that sticks out like a sore thumb and therefore defines the entire effort. And, yes, it is about the private credit situation. Of that, he said “probably.”

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.

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----------------------------------------------------------------------------------

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.

To watch a replay of our webinar, click below.
https://youtube.com/live/dkgSJvjWs5M?feature=share

To take advantage of our limited-time Eurodollar University subscription offer to get access to all EDU materials, reports, and data, visit the link below:

https://www.eurodollar.university/webinar-offer

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https://www.jpmorganchase.com/ir/annual-report/2025/ar-ceo-letters

Recession odds climb on Wall Street as economy shows cracks beneath the surface
https://www.cnbc.com/2026/03/25/recession-odds-climb-on-wall-street-as-economy-shows-cracks-beneath-the-surface.html

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Almost four hundred thousand American workers dropped out of the labor force in March, setting yet a new low in labor participation. Why? There are no jobs, a fact confirmed by both the employment estimate plus an utterly dismal hiring rate from JOLTS, one that rivaled January and February 2009. There’s more, too. S&P Global said the services sector contracted for the first time in three years last month and a decline in its employment index, showing how the oil price shock is already starting to sting.

Eurodollar University's conversations w/Steve Van Metre

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S&P Global US Services PMI March 2026
https://www.pmi.spglobal.com/Public/Home/PressRelease/cc86952bb550465d9093b048d7bfdeb8

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Twitter: https://twitter.com/JeffSnider_EDU

Oil prices are absolutely soaring...AND CRASHING. Yes, at the same time. The main US petroleum benchmark surged by a whopping $11.42 a barrel on Thursday alone, the last trading day before the Good Friday holiday. And one key benchmark clocked in above $140. Yet, the rest of oil futures aren’t soaring at all. In fact, contracts for oil early next year are under $70 per barrel right now - more importantly they’ve been falling for a couple weeks already.

Eurodollar University's Money & Macro Analysis

----------------------------------------------------------------------------------

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

----------------------------------------------------------------------------------

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.

To watch a replay of our webinar, click below.
https://youtube.com/live/dkgSJvjWs5M?feature=share

To take advantage of our limited-time Eurodollar University subscription offer to get access to all EDU materials, reports, and data, visit the link below:

https://www.eurodollar.university/webinar-offer

----------------------------------------------------------------------------------

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

First, we have our "subprime is contained" moment from the Fed. Second, the run on Blue Owl is "unprecedented." Third, and more important than either of those, it's ***who*** is doing the running. In its disclosure, the sad owl let slip the truth underneath more ridiculous spin. When investors demand 20% to 40% out of your top funds, it's finally time to stop pretending this is all nothing.

Eurodollar University's Money & Macro Analysis

----------------------------------------------------------------------------------

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.

To watch a replay of our webinar, click below.
https://youtube.com/live/dkgSJvjWs5M?feature=share

To take advantage of our limited-time Eurodollar University subscription offer to get access to all EDU materials, reports, and data, visit the link below:

https://www.eurodollar.university/webinar-offer

----------------------------------------------------------------------------------

Blue Owl Limits Redemptions on Private Credit Funds After Massive Exit Requests
https://www.bloomberg.com/news/articles/2026-04-02/blue-owl-bdcs-impose-caps-after-facing-41-22-requests-to-exit

Blue Owl struck by $5.4bn of redemption requests
https://www.ft.com/content/f4320148-3d81-4bd0-9ab6-053a5bade188?syn-25a6b1a6=1

Powell: We do not see systemic risks from private credit
https://www.centralbanking.com/central-banks/financial-stability/7975526/powell-we-do-not-see-systemic-risks-from-private-credit

CNBC Exclusive: Transcript: Berkshire Hathaway Chairman Warren Buffett Speaks with CNBC’s Becky Quick on “Squawk Box” Today
https://www.cnbc.com/2026/03/31/cnbc-exclusive-transcript-berkshire-hathaway-chairman-warren-buffett-speaks-with-cnbcs-becky-quick-on-squawk-box-today.html

Private Credit’s CLO Machine Ramps Up in Push to Raise More Cash
https://www.bloomberg.com/news/articles/2026-04-02/private-credit-s-clo-machine-ramps-up-in-push-to-raise-more-cash

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Oracle announced it will be laying off tens of thousands of its employees in an attempt to save cash. Not that long ago the company could borrow any insane amount it wanted. In other words, the proposed job cuts at Oracle offer more confirmation of credit market stress. So do the layoffs Block had announced in late February. The cycle has completely flipped, including Fitch admitting one form of selective default is at a 14-year high while UBS locks up one European fund for three years!

Eurodollar University's Money & Macro Analysis

Oracle cutting thousands in latest layoff round as company continues to ramp AI spending
https://www.cnbc.com/2026/03/31/oracle-layoffs-ai-spending.html

Oracle announces Equity and Debt Financing Plan for Calendar Year 2026
https://investor.oracle.com/investor-news/news-details/2026/Oracle-announces-Equity-and-Debt-Financing-Plan-for-Calendar-Year-2026/default.aspx

UBS gates €400mn property fund for up to 3 years
https://www.ft.com/content/67d6e6ab-724c-4e23-b806-51fed911b766?syn-25a6b1a6=1

U.S. Private Credit Defaults Ease to 5.4% in February 2026
https://www.fitchratings.com/research/corporate-finance/us-private-credit-defaults-ease-to-5-4-in-february-2026-18-03-2026

Private Credit’s Investor Exodus Spreads to Consumer Loans
https://www.wsj.com/finance/investing/private-credits-investor-exodus-spreads-to-consumer-loans-de2507d7

Non-Cash-Generating Private-Credit Loans Rise to a 14-Year Peak, Fitch Says
https://www.wsj.com/articles/non-cash-generating-private-credit-loans-rise-to-a-14-year-peak-fitch-says-02ed4b94

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