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

US Banks & Economy - HFD Mortgage Data Shows Weekly Improvements, Credit Growth Improving in US

NAB - Profit Slightly Down in 3Q, Credit Costs Collapsed, but Bad Loans Are Rising Significantly

Preview: Due September 11 - U.S. August CPI - Subdued

US Inflation Watch: Disinflation scare or relief?

Steno Signals #111 – More or less liquidity? More or less recession? More or less real?

Steno Signals #110: Run for the hills? Not so fast..

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macroeconomics

<ul><li>Overall this print doesn’t change the picture a whole lot.</li><li>Inflation is soft enough for the Fed to cut, but it is not a “slam dunk” disinflation report either.</li><li>It is once again shelter and transportation that are standing in the way of a soft US CPI print.</li></ul>

Overall this print doesn’t change the picture a whole lot.Inflation is soft enough for the Fed to cut, but it is not a “slam dunk” disinflation report either.It is once again shelter and transportation that are standing in the way of a soft US CPI print.

US CPI Watch: The old culprits are back, but the report is soft enough for the Fed to cut