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

CPI Watch: A Decent Report but 2% Is FAR Away Still

Inflation Watch – Here’s Why EU Inflation Will Get Back to Target Faster than US Inflation

The Energy Cable #30 – Progress for The Bulls

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

5 Things We Watch: Downgrades, Cyclicals, Oil, JGBs and GDP/GDI

Junior Finance Analyst, Steno Research

Ulrik Simmelholt

Junior Finance Analyst

Cross Asset Strategy

<ul>
<li>As highlighted in our data dive yesterday on the curve we see the steepener case as increasingly compelling.</li>
<li>From our portfolio, you will also know that we have been moving towards a boomer composition and in the following short note we’ll try to support that thesis.</li>
<li> Why would the curve slope back our boomer position?</li>
</ul>


As highlighted in our data dive yesterday on the curve we see the steepener case as increasingly compelling.
From our portfolio, you will also know that we have been moving towards a boomer composition and in the following short note we’ll try to support that thesis.
 Why would the curve slope back our boomer position?


iShares 20+ Year Treasury Bond ETF (TLT US)

Communication Services Select Sector SPDR Fund (XLC US)

Communication Services Select Sector SPDR Fund

Consumer Staples Select Sector SPDR Fund (XLP US)

Curve Steepeners and the Boomer Trade