Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

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 back to our Wednesday series where we take you through the world of global macro and what to look out for going forward.</li>
<li>With US CPI being released tomorrow – where we as always will cover the most important take-aways post-release – there is room for market movements as the disinflation narrative continues amidst the possibility of a positive surprise in headline CPI due to base effects.</li>
<li>We’ll as always be short and concise and let you into our thinking regarding asset allocation and positioning ahead of the data/events mentioned.</li>
</ul>


Welcome back to our Wednesday series where we take you through the world of global macro and what to look out for going forward.
With US CPI being released tomorrow – where we as always will cover the most important take-aways post-release – there is room for market movements as the disinflation narrative continues amidst the possibility of a positive surprise in headline CPI due to base effects.
We’ll as always be short and concise and let you into our thinking regarding asset allocation and positioning ahead of the data/events mentioned.


5 Things We Watch – Fed Overtightening, Curve Steepening, US CPI, BoJ & China

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.

FX & Rates

<ul><li>The NOK has had a good summer.</li><li>EURNOK has fallen to 11.20 after largely trading in the 11.60-12.00 range during June and the beginning of July.</li><li>USDNOK is now trading around 10.20 after having been briefly below 10, down from around 11.00 before summer.</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>

The NOK has had a good summer.EURNOK has fallen to 11.20 after largely trading in the 11.60-12.00 range during June and the beginning of July.USDNOK is now trading around 10.20 after having been briefly below 10, down from around 11.00 before summer.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.

<ul><li>Welcome to this week’s edition of ‘5 Things We Watch’, where we take you through 5 things that we have found particularly interesting in the past week.</li><li>Yesterday we launched the first of a couple of articles focusing on the current business cycle, giving our best guess on where in the cycle we are, what markets are pricing in and most importantly – what will happen next.</li><li>The full articles regarding the business cycle and how different asset classes are positioned for it will be released throughout the week for premium subscribers.</li></ul>

Welcome to this week’s edition of ‘5 Things We Watch’, where we take you through 5 things that we have found particularly interesting in the past week.Yesterday we launched the first of a couple of articles focusing on the current business cycle, giving our best guess on where in the cycle we are, what markets are pricing in and most importantly – what will happen next.The full articles regarding the business cycle and how different asset classes are positioned for it will be released throughout the week for premium subscribers.

5 Things We Watch – PMIs, FX, Japan, Brazil, Inflation

<ul><li>Welcome to the second research piece in our “Business Cycle Week”.</li><li>In this edition of the series on the business cycle, we will focus on whether FX markets sniff out the cycle ahead of other asset markets.</li><li>Is the USD a bellwether of global trends or is it just a saying?</li></ul>

Welcome to the second research piece in our “Business Cycle Week”.In this edition of the series on the business cycle, we will focus on whether FX markets sniff out the cycle ahead of other asset markets.Is the USD a bellwether of global trends or is it just a saying?

FX Watch: Have FX Markets Sniffed out an Upcoming Rebound?

<ul><li>We have been banging the drum on soft inflation data in the US and in the Euro area for a while and we are currently seeing the very signs of that in the data.</li><li>Core inflation momentum (MoM annualized) is below target in several large economies including the US, France and Brazil, but there are a few odd ones out with substantially increasing core inflation momentum such as Norway and the UK.</li><li>What makes Norway and the UK stand out?</li></ul>

We have been banging the drum on soft inflation data in the US and in the Euro area for a while and we are currently seeing the very signs of that in the data.Core inflation momentum (MoM annualized) is below target in several large economies including the US, France and Brazil, but there are a few odd ones out with substantially increasing core inflation momentum such as Norway and the UK.What makes Norway and the UK stand out?

Inflation Watch: Why Norway and the UK are the odd ones out on inflation

Norway

The Norwegian krone is the official currency of the Kingdom of Norway.  The US dollar is the official currency of the United States of America.

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NOK (USDNOK CURNCY)

5 Things We Watch – Fed Overtightening, Curve Steepening, US CPI, BoJ & China

Welcome back to our Wednesday series where we take you through the world of global macro and what to look out for going forward. With US CPI being...

Steno Research

NOK Update: No summertime sadness

The NOK has had a good summer. EURNOK has fallen to 11.20 after largely trading in the 11.60-12.00 range during June and the beginning of...

Nordea

5 Things We Watch – PMIs, FX, Japan, Brazil, Inflation

Welcome to this week’s edition of ‘5 Things We Watch’, where we take you through 5 things that we have found particularly interesting in the past...

Steno Research

FX Watch: Have FX Markets Sniffed out an Upcoming Rebound?

In this edition, we will focus on whether FX markets sniff out the cycle ahead of other asset markets. Is the USD a bellwether of global trends or...

Steno Research

Inflation Watch: Why Norway and the UK are the odd ones out on inflation

We have been banging the drum on soft inflation data in the US and in the Euro area for a while and we are currently seeing the very signs of that...

Steno Research

Price Gauge

52-week Range

Market Cap (USDm)

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Dividend (Yield)