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

Out of the Box #17 How would US exceptionalism flip the table for the RoW?

Out of the Box #18: Time for the Second Inflation Wave? AAAAAAH!

Services Nugget: How Do the Central Banks React?

Out of the Box #15: What if Its the Labour Market that Drags Housing Down This Time?

Out of the Box #12: What if the deacceleration of EZ inflation starts to outpace that of the US?

Head of Research, Steno Research

Emil Moller

Head of Research

Macroeconomics

<ul><li>Fiscal Policy &amp; COVID support: As followers of our Out of the Box series would know, I have openly stated that my current base case is a recession at the start of 2024.</li><li>This a bold claim given how many have been wrong-footed on recession calls lately and considering how much the US keeps outperforming expectations.</li><li>To be sure, I am not predicting the end of the world but a rather ordinary recession.</li></ul>

Fiscal Policy &amp; COVID support: As followers of our Out of the Box series would know, I have openly stated that my current base case is a recession at the start of 2024.This a bold claim given how many have been wrong-footed on recession calls lately and considering how much the US keeps outperforming expectations.To be sure, I am not predicting the end of the world but a rather ordinary recession.

Out of the Box #16: Is the White House finally killing the Treasury put?