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

Steno Signals #120 – Liquidity and rate cuts are incoming in an already OK economy

Steno Signals #121: Whatever It Takes—In the US, but NOT in China

Steno Signals #122 – Markets have abandoned the cutting narrative (outside of EZ)

Week at a Glance – Are We Getting More 50s Across the Globe?

The Week at a Glance – Is a 50bps Cut Good if Paired with Economic Weakness?

Week at a Glance: Markets Have Truly Thrown Inflation in the Bin by Now

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macroeconomics

<ul><li>September’s month-end is always a significant period for xCcy markets, primarily due to window-dressing by financial institutions and the upcoming 3-month rolling into year-end.</li><li>This leads to heightened volatility and liquidity adjustments, particularly noticeable around the xCcy basis.</li><li>How bad will it be this year?</li></ul>

September’s month-end is always a significant period for xCcy markets, primarily due to window-dressing by financial institutions and the upcoming 3-month rolling into year-end.This leads to heightened volatility and liquidity adjustments, particularly noticeable around the xCcy basis.How bad will it be this year?

Liquidity Nugget: The worst turn liquidity in years