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

EM by EM #35:  China 2024: Keeping the Beast Alive

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Head of Research, Steno Research

Emil Moller

Head of Research

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

<ul><li>As we move beyond the final Fed decision of the year, we can speculate on how the EM space may respond to Powell’s press conference tonight.</li><li>Before diving into that, let’s discuss some recent developments that have occurred in China since our last update on the situation in Beijing.</li><li>While the market and all the mainstream news outlets have been awaiting the third plenum to take place in vain,  China’s Central Economic Work Conference was held the past two days.</li></ul>

As we move beyond the final Fed decision of the year, we can speculate on how the EM space may respond to Powell’s press conference tonight.Before diving into that, let’s discuss some recent developments that have occurred in China since our last update on the situation in Beijing.While the market and all the mainstream news outlets have been awaiting the third plenum to take place in vain,  China’s Central Economic Work Conference was held the past two days.

IShares Edge MSCI Min Vol Emerging Markets ETF (EEMV US)

IShares Edge MSCI Min Vol Emerging Markets ETF

Hang Seng China Enterprises Index (HSCEI INDEX)

Shanghai Stock Exchange Composite Index (SHCOMP INDEX)

Shenzhen Stock Exchange Composite Index (SZCOMP INDEX)

EM by EM #34: Xi’s Whip and Powell’s Kneeling