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

Portfolio Watch: The Art of Resisting Panic

Portfolio Watch: Equities Running Out of Gas?

Portfolio Watch: The Last Gasp of a Dying Man?

Portfolio Watch: The wheels are coming off in Europe

Head of Research, Steno Research

Emil Moller

Head of Research

Macroeconomics

<ul><li>We’re here again for our weekly Portfolio Watch, and I must admit, it’s been a rather challenging week.</li><li>We found ourselves on the wrong side of the equity spread between CRAK and IYT. It’s ironic, really, as we initially thought the main risk was being fashionably late to the party.</li><li>Alas, it was the crack spreads that unexpectedly threw us off balance.</li></ul>

We’re here again for our weekly Portfolio Watch, and I must admit, it’s been a rather challenging week.We found ourselves on the wrong side of the equity spread between CRAK and IYT. It’s ironic, really, as we initially thought the main risk was being fashionably late to the party.Alas, it was the crack spreads that unexpectedly threw us off balance.

Portfolio Watch: No Quarter and No Surrender