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

EIA Nugget: Another STRONG Demand Week for Energy in the US

Macro Nugget: Fluctuations and the Perception of Gravity

Macro Nugget: How do markets react to turmoil in Gaza/Israel?

Macro Nugget: Why the price at the pump matters for inflation expectations

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macroeconomics

<ul><li>The weekly EIA data is out at 11.00 am ET after last week’s data sparked a massive sell-off in oil markets.</li><li>The implied Gasoline demand dropped 12-13% also in seasonally adjusted terms after a cocktail of decreased production and increased inventories of retail gasoline.</li><li>The actual road congestion is up &gt;5% since the early parts of October, meaning that demand is likely up (at least) as much before considering the technicalities of the EIA report that could have led to a flawed low number.</li></ul>

The weekly EIA data is out at 11.00 am ET after last week’s data sparked a massive sell-off in oil markets.The implied Gasoline demand dropped 12-13% also in seasonally adjusted terms after a cocktail of decreased production and increased inventories of retail gasoline.The actual road congestion is up &gt;5% since the early parts of October, meaning that demand is likely up (at least) as much before considering the technicalities of the EIA report that could have led to a flawed low number.

OPEC & EIA nugget: A day of reckoning ahead for Oil