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Oct 2025
20m 38s

The Shadow Credit Crisis That Could Shoc...

Jeff Snider
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No One Is Talking About What Just Happened in Canada
A simply brutal reminder from Canada about the real state of the global economy. The Canadians backed up the US payroll number for February, except in Canada it was the largest loss of jobs since 2022. As one big bank economist put it, this is a “simply brutal” result. While ever ... Show More
20m 39s
Mar 13
HOLY SH*T! Now its Morgan Stanley...
Now it’s Morgan Stanley’s turn. Yesterday it was Cliffwater. Before that BlackRock and Blackstone. Of course Blue Owl. Morgan Stanley’s $8 billion North Haven Private Income Fund becomes the latest shadow banking giant to both get hit with massive investor withdrawals and to deny ... Show More
20m 11s
Mar 12
Oh Sh*t... Another $33B Private Credit Fund Is Blowing Up...
It is beginning to look more and more like a slow-motion shadow bank run. Yet another massive fund hit with largescale withdrawals. Not only that, the liquidity pressure also led to more asset sales. But those aren't even the worst of the day's news: that comes from JP Morgan and ... Show More
33m 17s
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