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: Equities Running Out of Gas?

Portfolio Watch: No Quarter and No Surrender

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>The world has seen significant changes since the last release of Portfolio Watch, marked by the tragic events in the Middle East.</li><li>To add some context, it is perhaps helpful to refresh the six key takeaways before the Hamas incursion into Israel on Saturday.</li><li>1) We are on the sideline on Bonds but it is starting to look juicy 2) Yield curve steepener is good risk reward 3) We’re bearish on equities 4) We don’t wanna bet against the USD 5) Credit spreads are bound to widen  6) We think banks are starting to look detached from fundamentals</li></ul>

The world has seen significant changes since the last release of Portfolio Watch, marked by the tragic events in the Middle East.To add some context, it is perhaps helpful to refresh the six key takeaways before the Hamas incursion into Israel on Saturday.1) We are on the sideline on Bonds but it is starting to look juicy 2) Yield curve steepener is good risk reward 3) We’re bearish on equities 4) We don’t wanna bet against the USD 5) Credit spreads are bound to widen  6) We think banks are starting to look detached from fundamentals

Portfolio Watch: The Art of Resisting Panic