Portfolio Watch – 2023 in hindsight
Merry Christmas and a happy new year to all of you from us here at Steno Research. What a year it has been, and we hope you have enjoyed the...
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Portfolio Watch: Liquidity the Name of the Game
Cuts by March? We are not dismissive, but we would deem it close to fantastic if the Fed communications manage to pivot the economy without pushing...
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EM by EM #34: Xi’s Whip and Powell’s Kneeling
Despite aiming for growth, China won’t employ potent fiscal or monetary policies; instead, the focus is on boosting confidence and shaping a...
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Steno Signals #75 – The 2007/2008 Playbook Is Useful Again
The soft landing narrative has seen material tailwinds over the past 6-8 weeks, while the recession narrative is fading fast.
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Steno Signals #73 – An Abysmal Impulse for 2024
The credit impulse for 2024 looks abysmal; Rates volatility is likely going to rise sharply again; Equities still look (too) expensive on most...
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