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

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macroeconomics

<ul><li>Yesterday, the US Treasury revealed the issuance targets for Q1 and Q2.</li><li>The net addition to marketable debt is $760 billion for Q1.</li><li>While this is a substantial amount, it’s $55 billion less than the October estimate for Q1 ($816 billion).</li></ul>

Yesterday, the US Treasury revealed the issuance targets for Q1 and Q2.The net addition to marketable debt is $760 billion for Q1.While this is a substantial amount, it’s $55 billion less than the October estimate for Q1 ($816 billion).

iShares 20+ Year Treasury Bond ETF (TLT US)

2-Year US Treasury Note Futures (TU1 COMDTY)

US Liquidity & Debt Watch: Yellen to Decide the QT Tapering Timing Tomorrow