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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.

US Stall? Only Half The Imagined “V” May Indicate One, Too

By |2020-07-24T20:16:35-04:00July 24th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

These are not numbers that are consistent with a robust rebound. In fact, they don’t indicate very much of one at all. IHS Markit’s flash PMI’s for July 2020 instead look way too much like the sentiment indicators in Germany and Japan. Though they are now back near 50, both services and manufacturing, that doesn’t actually indicate what everyone seems [...]

Eurodollar University’s Making Sense; Episode 18, Part 3: The Emptied Bucket

By |2020-07-24T14:45:24-04:00July 24th, 2020|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

AlhambraTube: https://youtu.be/QjYJSF28W5Q   Apple: https://apple.co/3czMcWN iHeart: https://ihr.fm/31jq7cI Castro: https://bit.ly/30DMYza TuneIn: http://tun.in/pjT2Z Google: https://bit.ly/3e2Z48M Spotify: https://spoti.fi/3arP8mY Castbox: https://bit.ly/3fJR5xQ Breaker: https://bit.ly/2CpHAFO Podbean: https://bit.ly/3enSAkr Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa PocketCast: https://pca.st/encarkdt PodcastAddict: https://bit.ly/2V39Xjr     Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/ Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emil Kalinowski, Head of Obscure Movie References. Artwork by David Parkins.[Emil’s Summary] We implicitly assume monetization of debt by central banks is inflationary. But inflation depends on the [...]

The (Other) Shoe Of Unemployment

By |2020-07-23T19:36:33-04:00July 23rd, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

After raising the specter of a rebound stall, the idea before limited to Japan and Germany was abruptly given further weight today by US jobless claims numbers. For the first time since the peak at the end of March, the weekly tally of initial filings increased from the prior week. The estimate for the week of July 18, 2020, came [...]

Eurodollar University’s Making Sense; Episode 18, Part 2: The Emptier Bucket

By |2020-07-22T19:27:38-04:00July 22nd, 2020|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

AlhambraTube: https://youtu.be/G2H1tjTm1mA   Apple: https://apple.co/3czMcWN iHeart: https://ihr.fm/31jq7cI Castro: https://bit.ly/30DMYza TuneIn: http://tun.in/pjT2Z Google: https://bit.ly/3e2Z48M Spotify: https://spoti.fi/3arP8mY Castbox: https://bit.ly/3fJR5xQ Breaker: https://bit.ly/2CpHAFO Podbean: https://bit.ly/3enSAkr Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa PocketCast: https://pca.st/encarkdt PodcastAddict: https://bit.ly/2V39Xjr     Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/ Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emil Kalinowski, Head of Obscure Movie References. Artwork by David Parkins.[Emil’s Summary] We implicitly assume monetization of debt by central banks is inflationary. But inflation depends on the [...]

A German Stall? Here’s Some Puppets!

By |2020-07-22T19:23:19-04:00July 22nd, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It’s one of those things I wish I had more time to thoroughly investigate. What can these Germans possibly be thinking? While the ZEW sentiment indicator actually came back down a bit in July 2020 from its 2005-style perch in June, the ZEW for all of Europe actually went further upward. Either that means Christine Lagarde has been successful (at [...]

A Japanese Stall?

By |2020-07-22T17:32:03-04:00July 22nd, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In sharp contrast to the sentimental deference towards central bank stimulus exhibited by Germany’s ZEW, for example, similar Japanese surveys are starting to describe potential trouble developing. Like Germany, Japan is a bellwether country and a pretty reliable indicator of global economy performance. Both of these places had solidly indicated the globally synchronized downturn long before it was recognized in [...]

More To Being De-dollared

By |2020-07-21T19:04:15-04:00July 21st, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It’s understandable to an extent. Central banks are omnipotent, central bankers therefore the nearest human equivalent of gods. That’s what we’re all taught, so if something happens somewhere to some market then we’re left to believe it was because one of the gods wanted it that way.Taking this globally, the Fed made a bunch of money in the aftermath of [...]

Exposing The Golden Lie

By |2020-07-21T17:01:59-04:00July 21st, 2020|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

To hear it told nowadays, you’d think that gold’s amazing run began when Jay Powell started cranking out bank reserves. Those telling the story equate those bank reserves to effective money printing, so it conforms to the conventional myth about gold’s relationship to the money supply (whatever that is). Throw in a federal government, every federal government, recklessly borrowing and [...]

Huge, Massive Difference: De-dollarizing vs. Being De-dollared

By |2020-07-20T17:56:40-04:00July 20th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

There is a tremendous difference between the world de-dollarizing and those living in it being de-dollared. The former is a choice, the latter a fact of existence since August of 2007 (to varying degrees). Yet, most people, especially the “experts”, talk of only the first one as if that was all there is to it.Especially when it comes to China.We [...]

Eurodollar University’s Making Sense; Episode 18, Part 1: The Empty Bucket

By |2020-07-20T15:58:51-04:00July 20th, 2020|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

AlhambraTube: https://youtu.be/SmC9RPgOngk   Apple: https://apple.co/3czMcWN iHeart: https://ihr.fm/31jq7cI Castro: https://bit.ly/30DMYza TuneIn: http://tun.in/pjT2Z Google: https://bit.ly/3e2Z48M Spotify: https://spoti.fi/3arP8mY Castbox: https://bit.ly/3fJR5xQ Breaker: https://bit.ly/2CpHAFO Podbean: https://bit.ly/3enSAkr Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa PocketCast: https://pca.st/encarkdt PodcastAddict: https://bit.ly/2V39Xjr   Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/ Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emil Kalinowski, Head of Obscure Movie References.  Artwork by David Parkins. [Emil's Summary] We implicitly assume monetization of debt by central banks is inflationary. But inflation depends on the [...]

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