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: Investors Are yet Again Short Bonds..

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

<ul>
<li>Equity positioning remains very bearish despite the recent spike in price action</li>
<li>The EUR remains a crowded long in FX space, while the AUD and JPY are still short</li>
<li>The market continues to expect market rates to increase despite falling inflation </li>
</ul>


Equity positioning remains very bearish despite the recent spike in price action
The EUR remains a crowded long in FX space, while the AUD and JPY are still short
The market continues to expect market rates to increase despite falling inflation 


Positioning Watch – Is This a Bear Market Rally or the Beginning of a Bull Run?