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.

Macro and Geopolitical Research House

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macroeconomics

<ul><li>Hello everyone, and welcome to a short and sweet look at the current business cycle, what to expect, and which assets to buy ahead of what could be significant cyclical expansion.</li><li>April data has in general been week in our models and nowcasts, which was reflected in the fairly dovish CPI report yesterday.</li><li>However, May actitivity is picking up momentum again, and our Truck Demand indicator points to the business cycle picking up again from May onwards.</li></ul>

Hello everyone, and welcome to a short and sweet look at the current business cycle, what to expect, and which assets to buy ahead of what could be significant cyclical expansion.April data has in general been week in our models and nowcasts, which was reflected in the fairly dovish CPI report yesterday.However, May actitivity is picking up momentum again, and our Truck Demand indicator points to the business cycle picking up again from May onwards.

Business Cycle Watch – What to buy if manufacturing keeps surprising to the upside?