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

Cross Asset Strategy

<ul><li>We have so far seen a very contained market reaction to the electricity aid package from Germany last week, but there are loads of reasons why markets can absorb the demand-fuelling news in energy markets short-term.</li><li>Maybe there is a window of opportunity for the German industry before price pressures return?</li><li>The IFO index covering the Germany industry is likely going to improve in the coming months.</li></ul>

We have so far seen a very contained market reaction to the electricity aid package from Germany last week, but there are loads of reasons why markets can absorb the demand-fuelling news in energy markets short-term.Maybe there is a window of opportunity for the German industry before price pressures return?The IFO index covering the Germany industry is likely going to improve in the coming months.

Electricity Watch: Why Ze Germans Are OK for Now