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

China Watch: From a controlled demolition to another round of damage control?

EM by EM #40: Chinese Promises and Mexican Traps

EM by EM 41: Fearing the Fury but Fading the Fear

EM by EM #38: Inflation Returning with a Vengeance?

EM by EM #37: The Taiwan election & the Trade war

Head of Research, Steno Research

Emil Moller

Head of Research

Cross Asset Strategy

United states & China / Cross Asset Strategy

<ul><li>Takeaway:China serves as the primary deflationary force in the global macroeconomic landscape.</li><li>Despite China’s slowing growth, potential policy responses might paradoxically exacerbate deflationary pressures.</li><li>We anticipate rising inflation risks linked to potential supply shocks resulting from geopolitical developments.</li></ul>

Takeaway:China serves as the primary deflationary force in the global macroeconomic landscape.Despite China’s slowing growth, potential policy responses might paradoxically exacerbate deflationary pressures.We anticipate rising inflation risks linked to potential supply shocks resulting from geopolitical developments.

Hang Seng China Enterprises Index (HSCEI INDEX)

Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX EQUITY)

Shanghai Stock Exchange Composite Index (SHCOMP INDEX)

Shenzhen Stock Exchange Composite Index (SZCOMP INDEX)

Direxion Daily CSI 300 China A Share Bull 2X Shares (CHAU US)

Direxion Daily CSI 300 China A Share Bull 2X Shares

EM by EM #39: All Roads Out of China Lead to Goods Disinflation