Geopolitical Analyst, Steno Research, Steno Research

Mikkel Rosenvold

Geopolitical 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>Welcome to this week’s Great Game! Once again, we’re focused on the two big wars going on – Ukraine and Gaza.</li><li>What are the risks, what will hit markets and what’s the outlook?</li><li>Last Tuesday, Ukraine launched an offensive into Russian territory in the Kursk and Belgorod Oblasts.</li></ul>

Welcome to this week’s Great Game! Once again, we’re focused on the two big wars going on – Ukraine and Gaza.What are the risks, what will hit markets and what’s the outlook?Last Tuesday, Ukraine launched an offensive into Russian territory in the Kursk and Belgorod Oblasts.

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

US Treasury (10 Yr Generic) / Technical Analysis

<ul>
<li>We continue to see more and more global indexes and Sectors breaking out to new highs. This is classic bull market behavior. The latest breakouts: Israel, Germany, and Sweden</li>
<li>Our bullish outlook (since early November 2023) on global equities (MSCI ACWI) remains intact; continue to ride this trend higher, and treat pullbacks as buying opportunities.</li>
<li>We continue to get more evidence suggesting the US Dollar (DXY) is rolling over, and quite likely that global sovereign 10-year yields are rolling over as well. Risk-on.</li>
</ul>


We continue to see more and more global indexes and Sectors breaking out to new highs. This is classic bull market behavior. The latest breakouts: Israel, Germany, and Sweden
Our bullish outlook (since early November 2023) on global equities (MSCI ACWI) remains intact; continue to ride this trend higher, and treat pullbacks as buying opportunities.
We continue to get more evidence suggesting the US Dollar (DXY) is rolling over, and quite likely that global sovereign 10-year yields are rolling over as well. Risk-on.


Bullish Outlook Intact; DXY Rolling Over; More Global Breakouts. Buys in Discretionary, Tech

Cross Asset Strategy

<ul><li>Welcome to a quick Holidays edition of Great Game – your weekly geopolitical update!</li><li>Yesterday, reports emerged that Hamas and Islamic Jihad had rejected an offer of a permanent cease-fire brokered by the Egyptians with the aid of Saudi Arabia and Qatar.</li><li>Reportedly, the deal would have involved a mass release of hostages, a permanent ceasefire and the formation of a transitional government in Gaza without the direct persecution or condemnation of Hamas and Islamic Jihad.</li></ul>

Welcome to a quick Holidays edition of Great Game – your weekly geopolitical update!Yesterday, reports emerged that Hamas and Islamic Jihad had rejected an offer of a permanent cease-fire brokered by the Egyptians with the aid of Saudi Arabia and Qatar.Reportedly, the deal would have involved a mass release of hostages, a permanent ceasefire and the formation of a transitional government in Gaza without the direct persecution or condemnation of Hamas and Islamic Jihad.

Hamas Rejects Ceasefire – Here’s Why It’s Actually Great News

<ul><li>The ongoing conflict between Israel and Hamas is nearing a potential turning point, as Hamas chief Ismail Haniyeh, in a statement to Reuters, indicated that the Palestinian militant group is on the brink of a truce agreement with Israel.</li><li>The negotiations, which are being mediated by Qatar, are primarily focused on key issues such as the duration of the truce, the mechanisms for aid delivery into Gaza, and a crucial exchange involving Israeli hostages and Palestinian prisoners.</li><li>What do we know?</li></ul>

The ongoing conflict between Israel and Hamas is nearing a potential turning point, as Hamas chief Ismail Haniyeh, in a statement to Reuters, indicated that the Palestinian militant group is on the brink of a truce agreement with Israel.The negotiations, which are being mediated by Qatar, are primarily focused on key issues such as the duration of the truce, the mechanisms for aid delivery into Gaza, and a crucial exchange involving Israeli hostages and Palestinian prisoners.What do we know?

<ul><li>Welcome to this week’s Great Game, which is obviously focused on the ongoing Israel/Gaza war.</li><li>In this piece we answer three key questions in geopolitics right now:</li><li>1) What on earth are Chinese warships doing in the Middle East? 2) Why haven’t Israel invaded Gaza yet and 3) Have Russia re-gained the initiative?</li></ul>

Welcome to this week’s Great Game, which is obviously focused on the ongoing Israel/Gaza war.In this piece we answer three key questions in geopolitics right now:1) What on earth are Chinese warships doing in the Middle East? 2) Why haven’t Israel invaded Gaza yet and 3) Have Russia re-gained the initiative?

United States

iShares MSCI Israel ETF is an exchange-traded fund incorporated in the USA. The ETF seeks investment results that correspond to the performance of the MSCI Israel Capped Investable Market Index.

iShares MSCI Israel ETF (EIS US)

Can Ukraine drive to Moscow?

Welcome to this week’s Great Game! Once again, we’re focused on the two big wars going on – Ukraine and Gaza. What are the risks, what will hit...

Steno Research

Bullish Outlook Intact; DXY Rolling Over; More Global Breakouts. Buys in Discretionary, Tech

Bullish Outlook Intact; $DXY Rolling Over, 10-Yr Treasury Yield $TNX Rolling Over; More Global Indexes Breaking Out (Israel, Germany, Sweden). Buys...

Vermilion Research

Hamas Rejects Ceasefire – Here’s Why It’s Actually Great News

Welcome to a quick Holidays edition of Great Game – your weekly geopolitical update!Yesterday, reports emerged that Hamas and Islamic Jihad had...

Steno Research

Great Game – Truce in Gaza?

The ongoing conflict between Israel and Hamas is nearing a potential turning point, as Hamas chief Ismail Haniyeh, in a statement to Reuters,...

Steno Research

Great Game – Calm Before the Storm?

Welcome to this week’s Great Game, which is obviously focused on the ongoing Israel/Gaza war, looking to address three main questions.

Steno Research