175.1 RED ALERT: Eurodollar Futures Curve Inverts Pt. 1 

———Ep 175.1 Summary———
You’ve heard that when the US Treasury yield curve inverts it is a recession warning for the United States. What about when the Eurodollar futures curve inverts? That is a warning too. A monetary red alert for the entire world economy. On December 1st the Eurodollar curve inverted.

———Ep 175.1 Topics———

00:00 INTRO: The eurodollar futures curve has inverted; a warning for the global economy.
01:06 Eurodollar futures are an extremely important indication concerning monetary conditions.
03:07 Eurodollar futures are based on 3-month LIBOR in the near and far future.
04:44 Eurodollar curves represent near-term money rates and…
08:10 Eurodollar curves also represent long-run economic expectations.
10:30 Why is it unnatural for a money-curve to invert?
15:02 How did the Eurodollar futures curve look like from September 2017 to May 2018?
18:31 How did the Eurodollar futures curve look like from mid-May to early June 2018?
21:49 How, when and why did the Eurodollar futures curve invert starting in mid-June 2018?

———Ep 175.1 References———

This Is A Big One (no, it’s not clickbait): https://bit.ly/3oeNNKf
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7

———Show Sponsor———

Macropiece Theater with Emil Kalinowski (a/k/a Alistair Cooke, a/k/a Alistair Cookie) reading the latest essays, blog posts, speeches and excerpts from economics, geopolitics and more. Interesting people write interesting things, why not listen and hear what they have to say? You could do worse things with your time (i.e. Bloomberg, CNBC, et cetera). Recent readings include thoughts from: Adam Smith, Arthur Schopenhauer, Bank for International Settlements, George Friedman, J.P. Koning, Jean-Paul Sartre, Karl Marx, Liberty Street Economics, Lyn Alden, Maroon Macro, Matt Stoeller, Michael Pettis, Myrmikan, Perry Mehrling, Robert Breedlove, Rohan Grey, Velina Tchakarova and yes, even Jeff Snider.

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———Euro$U Team———

Jeff Snider, Head of Global Investment Research for Alhambra Investments. Illustrations by David Parkins, myth maker. Audio and video editor, The Terence. Logo design by pixelist Lisa Jiang. Master of ceremonies, Emil Kalinowski. Musical intro is “Silent Night” by One Man Quartet. Musical outro is “O Christmas Tree” by The Evergreen Trio. Both found at Epidemic Sound.

———Where To Find Us———

Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/

Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.com

David: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.com

Lisa: http://Lisa-Jiang.com/
Lisa: https://twitter.com/@Nylonnerves