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

Energy Watch: Can Oil Rally 25% Further in Q4?

Macro Nugget: US Real Estate and Interest Rates

Steno Signals #62 – The Recession Is Called Off (By Consensus)

Head of Research, Steno Research

Emil Moller

Head of Research

Macroeconomics

<ul><li>As you may be aware, a notable abundance of indicators suggests increased credit stress and layoffs.</li><li>One of the particularly consistent signals in my chart book is the Conference Board’s Jobs hard-to-get Less Plentiful, which consistently has been leading the unemployment rate</li><li>The ongoing accumulation of recent revisions also serves as a signal of potential turbulence in the labor market, possibly indicating forthcoming challenges in the upcoming months.</li></ul>

As you may be aware, a notable abundance of indicators suggests increased credit stress and layoffs.One of the particularly consistent signals in my chart book is the Conference Board’s Jobs hard-to-get Less Plentiful, which consistently has been leading the unemployment rateThe ongoing accumulation of recent revisions also serves as a signal of potential turbulence in the labor market, possibly indicating forthcoming challenges in the upcoming months.

Macro Nugget: 3 Charts on US Labour market