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

Positioning Watch: The USD Wrecking Ball & Oil’s Roaring Rally

Positioning Watch: Energy is not (yet) a consensus

Positioning Watch: Higher for longer vs Lower for longer?

Head of Research, Steno Research

Emil Moller

Head of Research

Cross Asset Strategy

United states & China / Cross Asset Strategy

<ul><li>Hello everybody and welcome back to our weekly Portfolio Watch! This week we have witnessed considerable turmoil in the markets, and it would be an exaggeration to claim that we’ve emerged from it unscathed.</li><li>A few positions have been stopped-out but it is some source of consolation that our strongest conviction trades remain performers in an otherwise red massacre in financial markets. We have been rather vocal about our major conviction of a steepening of the yield curve was if not inevitable then at least very favourable on a r/r basis.</li><li>I too have clearly declared my aversion against the momentum of risk assets.</li></ul>

Hello everybody and welcome back to our weekly Portfolio Watch! This week we have witnessed considerable turmoil in the markets, and it would be an exaggeration to claim that we’ve emerged from it unscathed.A few positions have been stopped-out but it is some source of consolation that our strongest conviction trades remain performers in an otherwise red massacre in financial markets. We have been rather vocal about our major conviction of a steepening of the yield curve was if not inevitable then at least very favourable on a r/r basis.I too have clearly declared my aversion against the momentum of risk assets.

Hang Seng China Enterprises Index (HSCEI INDEX)

Portfolio Watch: Catching a Chinese Cold?