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

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macroeconomics

<ul><li>What a week in markets after the uber-dovish inflation print yesterday, which saw huge rotation within the equity markets as well as action in both FX and commodities.</li><li>In the equity space, we saw the biggest outperformance of the Russell 2000 against the Nasdaq since early 2021.</li><li>Yesterday’s rotation was driven by hedge funds facing a short squeeze on their small-cap and RE hedges as yields came down.</li></ul>

What a week in markets after the uber-dovish inflation print yesterday, which saw huge rotation within the equity markets as well as action in both FX and commodities.In the equity space, we saw the biggest outperformance of the Russell 2000 against the Nasdaq since early 2021.Yesterday’s rotation was driven by hedge funds facing a short squeeze on their small-cap and RE hedges as yields came down.

Portfolio Watch: Be our guest to jump the great rotation bandwagon