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

Shipping Watch: No news is bad news (for inflation)

Energy Cable: Inflation starting to bite equities

Great Game: Despite New Aid, Ukraine will lose within 12 months. Plan Accordingly!

5 Things We Watch – Central Bank Outlook, USDJPY, Natural Gas, Credit & Liquidity

Junior Finance Analyst, Steno Research

Ulrik Simmelholt

Junior Finance Analyst

Macroeconomics

<ul><li>Negative roll yield killing BCOM returns, even as spot has performed OK</li><li>We need to see some serious stimulus out of China for broad commodities to rally</li><li>Macro data turning bullish in shipping and the Container output from Shanghai is showing signs of a STRONG rebound</li></ul>

Negative roll yield killing BCOM returns, even as spot has performed OKWe need to see some serious stimulus out of China for broad commodities to rallyMacro data turning bullish in shipping and the Container output from Shanghai is showing signs of a STRONG rebound

Commodity & Shipping Watch: Time to get back into the shipping bets?