Political Analyst | Steno Research, Steno Research

Anne Sandager

Political Analyst | Steno Research

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macroeconomics

<ul><li>It’s been a busy week in Chicago.</li><li>I am taking over from Mikkel Rosenvold in today’s edition of the Great Game, to give you a rundown of the policy ramifications of a star-studded DNC 2024.</li><li>A week ago, Vice President Kamala Harris provided a brief glimpse of her economic program, when she spoke at a campaign event in Raleigh, North Carolina.</li></ul>

It’s been a busy week in Chicago.I am taking over from Mikkel Rosenvold in today’s edition of the Great Game, to give you a rundown of the policy ramifications of a star-studded DNC 2024.A week ago, Vice President Kamala Harris provided a brief glimpse of her economic program, when she spoke at a campaign event in Raleigh, North Carolina.

Great Game – What we know about Harris’ economic plan after DNC

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

<ul><li>Hello and welcome back to our weekly positioning update.</li><li>Markets are as tricky as always, as everyone is trying to grasp how Powell will address all the new information coming out of the labor market recently, with NFP constantly being revised down, California job gains revised down massively while jobless claims look less scary.</li><li>Despite parts of the labor market looking slightly weak, the signs we are getting from the real estate market is looking strong in contrast, which could make the Jackson Hole symposium a bit more interesting as Fed are starting to focus (almost) solely on their Employment / Growth mandate.</li></ul>

Hello and welcome back to our weekly positioning update.Markets are as tricky as always, as everyone is trying to grasp how Powell will address all the new information coming out of the labor market recently, with NFP constantly being revised down, California job gains revised down massively while jobless claims look less scary.Despite parts of the labor market looking slightly weak, the signs we are getting from the real estate market is looking strong in contrast, which could make the Jackson Hole symposium a bit more interesting as Fed are starting to focus (almost) solely on their Employment / Growth mandate.

Positioning Watch – Markets are much more sceptical on the Euro zone than the US and UK

External broker reports(aggregated public sources), Nordea

Nordea

External broker reports(aggregated public sources)

Nordea is the bank in the Nordics dedicated to serving corporations and institutional customers. Our offering includes a diverse range of financing, cash management and payment services, investment banking, capital markets products, securities services and more. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Easing US inflation since early summer has paved the way for US rate cuts starting in September.</li><li>We do not however share the market perception about an imminent recession and believe the Fed will not need to cut faster than 25bp/quarter, waiting until December for their second move.</li><li>More sticky Eurozone inflation means the ECB will also move at the same quaterly pace.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Easing US inflation since early summer has paved the way for US rate cuts starting in September.We do not however share the market perception about an imminent recession and believe the Fed will not need to cut faster than 25bp/quarter, waiting until December for their second move.More sticky Eurozone inflation means the ECB will also move at the same quaterly pace.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Major forecasts: Inflation low enough for the Fed

<ul>
<li>Welcome to our weekly “The Week At A Glance” publication, where we explore the most important key figure releases and tradeable themes for the upcoming week.</li>
<li>We remain almost exclusively long on USD fixed income, and therefore, our attention is particularly focused on two key developments this week:</li>
<li>The Jackson Hole Conference and Ueda’s Appearance in the Japanese Parliament. Revisions to U.S. Employment Data: The Bureau of Labor Statistics (BLS) will release first-quarter 2024 data from the QCEW on August 21, 2024, at 10:00 a.m. (ET).</li>
</ul>


Welcome to our weekly “The Week At A Glance” publication, where we explore the most important key figure releases and tradeable themes for the upcoming week.
We remain almost exclusively long on USD fixed income, and therefore, our attention is particularly focused on two key developments this week:
The Jackson Hole Conference and Ueda’s Appearance in the Japanese Parliament. Revisions to U.S. Employment Data: The Bureau of Labor Statistics (BLS) will release first-quarter 2024 data from the QCEW on August 21, 2024, at 10:00 a.m. (ET).


The Week at a Glance: The USD in the (Jackson) Hole amidst Over 1 Million Jobs Disappearing?

Metals, Ores, and Mining Firms, Mint Finance

Pranay Yadav

Metals, Ores, and Mining Firms

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>CPI dropped to 2.9% YoY in July, the lowest since March 2021, while Core CPI cooled to 3.2% YoY, reflecting a broad-based softening in inflation.</li>
<li>Retail sales surged 1% MoM, driven by a volatile 3.6% rise in motor vehicle sales, signaling resilient consumer spending despite mixed economic conditions.</li>
<li>Manufacturing and industrial production contracted, pushing the GDPNow forecast down to 2.4%, highlighting persistent weakness in these sectors.</li>
</ul>


CPI dropped to 2.9% YoY in July, the lowest since March 2021, while Core CPI cooled to 3.2% YoY, reflecting a broad-based softening in inflation.
Retail sales surged 1% MoM, driven by a volatile 3.6% rise in motor vehicle sales, signaling resilient consumer spending despite mixed economic conditions.
Manufacturing and industrial production contracted, pushing the GDPNow forecast down to 2.4%, highlighting persistent weakness in these sectors.


Mint Macro Roundup: U.S. Inflation Dips Below 3% Amid Stronger Retail Sales

United States

The euro is the official currency of the European Economic & Monetary Union.  The US dollar is the official currency of the United States of America.

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Great Game – What we know about Harris’ economic plan after DNC

It’s been a busy week in Chicago. I am taking over from Mikkel Rosenvold in today’s edition of the Great Game, to give you a rundown of the policy...

Steno Research

Positioning Watch – Markets are much more sceptical on the Euro zone than the US and UK

Hello and welcome back to our weekly positioning update. Markets are as tricky as always, as everyone is trying to grasp how Powell will address...

Steno Research

Major forecasts: Inflation low enough for the Fed

We do not however share the market perception about an imminent recession and believe the Fed will not need to cut faster than 25bp/quarter,...

Nordea

The Week at a Glance: The USD in the (Jackson) Hole amidst Over 1 Million Jobs Disappearing?

Welcome to our weekly “The Week At A Glance” publication, where we explore the most important key figure releases and tradeable themes for the...

Steno Research

Mint Macro Roundup: U.S. Inflation Dips Below 3% Amid Stronger Retail Sales

U.S. inflation fell below 3% for the first time in over three years. Despite mixed signals from the manufacturing sector, retail sales showed...

Mint Finance

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