Junior Finance Analyst, Steno Research

Ulrik Simmelholt

Junior Finance Analyst

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>The latest data release from WCI shows the first w/w drop in US freight rates in a couple of months.</li><li>Meanwhile Europe continues its drop in freight rates for the 3rd consecutive week now.</li><li>Looks like the carnage in freight rates is over with seasonal effects in shipping expected to kick in 1-2 months from now based on historic import patterns from Europe and the US.</li></ul>

The latest data release from WCI shows the first w/w drop in US freight rates in a couple of months.Meanwhile Europe continues its drop in freight rates for the 3rd consecutive week now.Looks like the carnage in freight rates is over with seasonal effects in shipping expected to kick in 1-2 months from now based on historic import patterns from Europe and the US.

Shipping Watch: Looks like container rates have topped for now

External broker reports(aggregated public sources), Scotiabank

Scotiabank

External broker reports(aggregated public sources)

Scotiabank’s global foreign exchange strategy team provides in-depth regional insights and macro-economic analysis for G10 and advanced economies, Asia Pacific, and Latin America. Find technical and fundamental strategy reports focused on trade ideas, market risks, and the unfolding macro outlook. 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 USD is trading a bit more mixed as the dust settles after yesterday’s US CPI shocker.</li><li>Higher than expected prices drove US yields sharply higher, with the 10Y trading well through the 4.20% area that has capped yields recently, supporting broad USD gains.</li><li>Markets generally have steadied this morning; bond yields have retreated somewhat, with Gilts outperforming strongly after UK price data came in weaker than expected, while stocks are trading mostly higher. </li></ul>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.

The USD is trading a bit more mixed as the dust settles after yesterday’s US CPI shocker.Higher than expected prices drove US yields sharply higher, with the 10Y trading well through the 4.20% area that has capped yields recently, supporting broad USD gains.Markets generally have steadied this morning; bond yields have retreated somewhat, with Gilts outperforming strongly after UK price data came in weaker than expected, while stocks are trading mostly higher. 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.

FX Daily - USD Mixed After CPI-Driven Jump

We aggregate key quotes from earnings, The Transcript

The Transcript

We aggregate key quotes from earnings

Aggregate Key Quotes from Earnings

<ul><li>Companies are expecting the Federal Reserve to reduce rates to ease the burden on consumers and boost confidence in markets.</li><li>Inflation is still a concern for many companies, particularly at the high end, but the Fed cannot act until there is substantial data showing a decrease in inflation.</li><li>The lower income consumers are trading down and experiencing financial difficulties, with subprime delinquencies reaching levels similar to 2009, which is concerning for the market. </li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Companies are expecting the Federal Reserve to reduce rates to ease the burden on consumers and boost confidence in markets.Inflation is still a concern for many companies, particularly at the high end, but the Fed cannot act until there is substantial data showing a decrease in inflation.The lower income consumers are trading down and experiencing financial difficulties, with subprime delinquencies reaching levels similar to 2009, which is concerning for the market. This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Elias Lisberg Glistrup

<ul><li>Hello Everybody and welcome back for our weekly 5 Things We Watch!</li><li>We dare say we have a diversified edition this week touching on everything from Japan to Gaza and New York Community Bank! Without further ado lets dive right into it!</li><li>This week’s 5 topics we follow closely: <ul><li>UK CPI</li><li>Gaza ceasefire</li><li>US CPI</li><li>The USD rally and the JPY</li><li>Banking crisis 2.0?</li></ul></li></ul>

Hello Everybody and welcome back for our weekly 5 Things We Watch!We dare say we have a diversified edition this week touching on everything from Japan to Gaza and New York Community Bank! Without further ado lets dive right into it!This week’s 5 topics we follow closely: UK CPIGaza ceasefireUS CPIThe USD rally and the JPYBanking crisis 2.0?

5 Things We Watch: UK & US CPI, Gaza, JPY, and Banks

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.

<ul><li>The global backdrop for the start of the year is better than anticipated, with a broad-based upturn in PMIs suggesting steady or even growing global and emerging market growth.</li><li>The US is experiencing some slowing in growth, but consumer demand is more solid, supported by strong labor markets and falling inflation.</li><li>China's GDP growth is expected to remain around 5.5% in the near term, but there are concerns about ongoing deflation, housing market weakness, and its impact on corporate revenues and private sector confidence. Outside of China, emerging markets in Asia and Latin America are seeing growth rebound, driven by improvements in consumer and industrial sectors.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

The global backdrop for the start of the year is better than anticipated, with a broad-based upturn in PMIs suggesting steady or even growing global and emerging market growth.The US is experiencing some slowing in growth, but consumer demand is more solid, supported by strong labor markets and falling inflation.China's GDP growth is expected to remain around 5.5% in the near term, but there are concerns about ongoing deflation, housing market weakness, and its impact on corporate revenues and private sector confidence. Outside of China, emerging markets in Asia and Latin America are seeing growth rebound, driven by improvements in consumer and industrial sectors.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

EM Fixed Income: Emerging Markets Outlook & Strategy for February

United States

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

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USD (USD CURNCY)

Shipping Watch: Looks like container rates have topped for now

The latest data release from WCI shows the first w/w drop in US freight rates in a couple of months. Meanwhile Europe continues its drop in...

Steno Research

FX Daily - USD Mixed After CPI-Driven Jump

Higher than expected prices drove US yields sharply higher, with the 10Y trading well through the 4.20% area that has capped yields recently,...

Scotiabank

Episode 112: Subprime Signals

Companies are counting on the Federal Reserve to lower interest rates in order to boost consumer confidence and market trends, while inflation...

The Transcript

5 Things We Watch: UK & US CPI, Gaza, JPY, and Banks

Hello Everybody and welcome back for our weekly 5 Things We Watch! We dare say we have a diversified edition this week touching on everything from...

Steno Research

EM Fixed Income: Emerging Markets Outlook & Strategy for February

The global economy is performing better than expected at the start of the year, with strong growth in emerging markets and resilient growth in...

At Any Rate

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)