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>Clashes between Israeli forces and Hezbollah militants intensified along the Israel-Lebanon border.</li><li>The conflict escalated after a Hezbollah rocket attack on an Israeli border town killed four civilians.</li><li>In response, Israel launched airstrikes targeting Hezbollah positions in southern Lebanon, resulting in significant casualties and infrastructure damage.</li></ul>

Clashes between Israeli forces and Hezbollah militants intensified along the Israel-Lebanon border.The conflict escalated after a Hezbollah rocket attack on an Israeli border town killed four civilians.In response, Israel launched airstrikes targeting Hezbollah positions in southern Lebanon, resulting in significant casualties and infrastructure damage.

Great Game – Israel and Hezbollah headed for war?

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

<ul><li>Greetings from Europe! The Week At A Glance replaces our Morning Report each Monday as it allows for a deep dive into the economic releases and major tradeable themes for the week ahead.</li><li>We see a couple of major tradeable themes in the week(s) ahead.</li><li>First, the Euro area data, which is still improving in forward-looking indicators, while spot data remains relatively soft, probably in part due to a plethora of (potential) election risks.</li></ul>

Greetings from Europe! The Week At A Glance replaces our Morning Report each Monday as it allows for a deep dive into the economic releases and major tradeable themes for the week ahead.We see a couple of major tradeable themes in the week(s) ahead.First, the Euro area data, which is still improving in forward-looking indicators, while spot data remains relatively soft, probably in part due to a plethora of (potential) election risks.

The Week At A Glance: Time to bet against the USD?

<ul><li>Welcome to our weekly EM and Metals editorial.</li><li>It’s hard not to talk about China again this week, given the importance of the metals trade for global inflation expectations.</li><li>Our live assessment of the Chinese recovery continues to paint a stalling picture in Real Estate, exemplified by the physical copper demand being on the edge of a precipice, while the pollution based metrics hint of a continued surge in industrial production into June.</li></ul>

Welcome to our weekly EM and Metals editorial.It’s hard not to talk about China again this week, given the importance of the metals trade for global inflation expectations.Our live assessment of the Chinese recovery continues to paint a stalling picture in Real Estate, exemplified by the physical copper demand being on the edge of a precipice, while the pollution based metrics hint of a continued surge in industrial production into June.

EM Watch: Is the Chinese copper demand down 40%?

Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

FX & Rates

<ul><li>Swap spreads narrowed late last week by three basis points across the curve, likely influenced by developments in European markets</li><li>French President Macron's decision to dissolve parliament and call for snap elections has caused uncertainty in the fiscal outlook, leading to de-risking of European sovereign bond holdings</li><li>While last week's moves in US markets were significant, it is unlikely to continue as US treasuries are expected to remain stable and demand is expected to stay strong, supported by the rate cycle turning and potential easing from the Fed</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Swap spreads narrowed late last week by three basis points across the curve, likely influenced by developments in European marketsFrench President Macron's decision to dissolve parliament and call for snap elections has caused uncertainty in the fiscal outlook, leading to de-risking of European sovereign bond holdingsWhile last week's moves in US markets were significant, it is unlikely to continue as US treasuries are expected to remain stable and demand is expected to stay strong, supported by the rate cycle turning and potential easing from the FedThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Senior Cryptocurrency Analyst, Steno Research

Mads Eberhardt

Senior Cryptocurrency Analyst

Crypto

<ul><li>Last Wednesday, the U.S. Consumer Price Index (CPI) for May was released, showing soft inflation.</li><li>However, during the U.S. Federal Reserve’s (FED) subsequent FOMC meeting on the same day, the Fed was more hawkish than expected, indicating only a 25 basis points interest rate cut this year.</li><li>This led to declines across the crypto market.</li></ul>

Last Wednesday, the U.S. Consumer Price Index (CPI) for May was released, showing soft inflation.However, during the U.S. Federal Reserve’s (FED) subsequent FOMC meeting on the same day, the Fed was more hawkish than expected, indicating only a 25 basis points interest rate cut this year.This led to declines across the crypto market.

Crypto Crisp: Imminent Surge in Liquidity

United States

The US dollar is the official currency of the United States of America.

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USD (USD CURNCY)

Great Game – Israel and Hezbollah headed for war?

Hello and welcome to this week’s Great Game. We have a lot of current geopolitical events to cover, so let’s get to it!Israel and Hezbollah headed...

Steno Research

The Week At A Glance: Time to bet against the USD?

Greetings from Europe!The Week At A Glance replaces our Morning Report each Monday as it allows for a deep dive into the economic releases and...

Steno Research

EM Watch: Is the Chinese copper demand down 40%?

Welcome to our weekly EM and Metals editorial. It’s hard not to talk about China again this week, given the importance of the metals trade for...

Steno Research

Global Rates: Pardon my French

In summary, swap spreads narrowed due to European market effects, French elections caused uncertainty, US treasury cheapened versus swaps, but...

At Any Rate

Crypto Crisp: Imminent Surge in Liquidity

Last Wednesday, the U.S. Consumer Price Index (CPI) for May was released, showing soft inflation. However, during the U.S. Federal Reserve’s (FED)...

Steno Research

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