About Jeffrey P. Snider

Give us a call at 1-888-777-0970 or via email at info@alhambrapartners.com to discuss how his unique approach informs our investment decisions. We'd be happy to discuss our investment strategies and provide a complimentary portfolio review. Jeff is the Head of Global Research at Alhambra Investments. He is not an economist, which is probably why he's been able to develop a working model of the global monetary system. His research is unique and informative in ways an economist would never consider.

A Glut of February’s

By |2021-04-19T20:06:07-04:00April 19th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Ben Bernanke saw it even before he took over from Alan Greenspan. Like his “maestro”, however, Bernanke didn’t really know what to make of it. So, while early in 2005 Greenspan told of his version as an interest rate “conundrum”, his successor a month later tried to add more dimensions and details to the same puzzle via recognizing its clear, [...]

Neither Keynes, Trump, Pumps Nor Priming

By |2021-04-19T17:24:34-04:00April 19th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Then-President Trump was eager to talk in May 2017. Having been elected in 2016 by giving voice to what he called the “fake” unemployment rate on the campaign trail, and therefore mobilizing millions of the disaffected uncounted by that official ratio’s official definitions, it was enough to put him just barely over the top. To continue with the agenda, to [...]

Eurodollar University’s Making Sense; Episode 65; Part 1: Carter Bonds, Roosa Certificates, And Dollar Down Daze

By |2021-04-19T15:21:32-04:00April 19th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

65.1 This is what caused the 1970s Dollar Devaluation———Part 1 Summary———US President Jimmy Carter told the nation that the US dollar's devaluation "is clearly not warranted by the fundamental economic situation". In fact, it was unreservedly deserved as the necessary consequence of prolonged official incompetence. ———See It———– Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear It——— Vurbl: https://bit.ly/3rq4dPnApple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgBreaker: https://bit.ly/2CpHAFOCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39Xjr ———Ep 65.1 Topics——— 01:08 Unlike the 2010s, [...]

The Consensus

By |2021-04-16T19:51:39-04:00April 16th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

With government cash being shoveled into personal and corporate bank accounts, US consumers have reported that they are being more optimistic about the state of the economy. Before that, they went on a spending binge as stated unequivocally by historic retail sales figures. Why, then, so much higher spending than improved happiness and certainty while going about it?The University of [...]

Bonds v. Economists 5

By |2021-04-16T18:48:55-04:00April 16th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Given the historic data for US retail sales, “somehow” the bond market ignored them yesterday (and today). Yields globally fell for the most part, with real yields (TIPS) really discounting the significance of consumers in March. Bonds aren’t buying that this is anything other than temporary.Not surprisingly, the mainstream media refuses not to buy what bonds aren’t. I mean, for [...]

Eurodollar University’s Making MORE Sense; Episode 64: What Did THE ECONOMIST Say?

By |2021-04-15T20:03:47-04:00April 15th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

64.0: LIVE! Reaction: Answering The Economist———Ep 64 Intro———Should central bankers fix inequality? Un-change climates? The Economist says, 'No! They are white knights to be held in reserve; don't sully them with politics.' Jeff Snider agrees on the 'No!', but for entirely opposite reasons. ———SEE IT——— Twitter: https://twitter.com/izakaminskaTwitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———HEAR IT——— Vurbl: https://bit.ly/3rq4dPnApple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgBreaker: https://bit.ly/2CpHAFOCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39Xjr ———Ep 64.0 Topics——— 01:13 Central bank mission creep is [...]

Perhaps Just One Word Absent From The Historic Consumer Splurge

By |2021-04-15T20:00:07-04:00April 15th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Enormous. Terrific. Unbelievable. Biggest ever. The superlatives for US consumer spending during the month of March 2021 are appropriate, and for once they aren’t caused by some artifact of arithmetic or some other trick. While there are absolutely some base effects within the numbers, these levels of retail sales are far and away more than those. It's so ridiculous that [...]

Eurodollar University’s Making Sense; Episode 63; Part 3: To (be)Labor This Again

By |2021-04-14T19:41:25-04:00April 14th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

63.3 Why You Should Not Be Happy with 6% Unemployment———Part 3 Summary———America's unemployment rate is a miraculously low 6% - a remarkable achievement. But behind the headlines is the sad fact that labor force participation is awful. ———See It———– Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear It——— Vurbl: https://bit.ly/3rq4dPnApple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgBreaker: https://bit.ly/2CpHAFOCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39Xjr ———Ep 63.3 Topics——— 00:05 The US March 2021 payroll report delivered great headline news, beating [...]

Why *Only* That Specific One?

By |2021-04-14T19:49:23-04:00April 14th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

On February 23, the US Treasury sold off $60 billion and change of 2-year notes (CUSIP 91282CBN0). This particular shorter-term instrument has been in the crosshairs of the reflation trade, lurching in and out of it going back to last October, perhaps even late September. Caught up being the immediate tenor following the bills which have been bid (for “some” [...]

Fragility (脆弱性)

By |2021-04-13T19:16:45-04:00April 13th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

For a short while, with reflation being traded in almost every corner of the global bond market, the Bank of Japan started to get “those” questions again. Almost of the humble brag variety. A few years ago, Japan’s central bank had widened what it considered to be an acceptable trading range for its 2016 QQE addendum of Yield Curve Control [...]

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