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 Rates Nugget: 4 Charts on Why November Data Will Reignite the Hawks

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macroeconomics

<ul><li>As per usual, we get some of the most interesting early evidence on inflation already ahead of the monthly CPI report with the release of the NFIB survey conducted among mostly service-based SMEs.</li><li>Price plans accelerated again over the past month, which is a headfake pattern that we have seen ahead of earlier recessions for example in 2007/2008, but…</li><li>Paired with rising compensation plans, it makes for an odd and almost stagflationary cocktail.</li></ul>

As per usual, we get some of the most interesting early evidence on inflation already ahead of the monthly CPI report with the release of the NFIB survey conducted among mostly service-based SMEs.Price plans accelerated again over the past month, which is a headfake pattern that we have seen ahead of earlier recessions for example in 2007/2008, but…Paired with rising compensation plans, it makes for an odd and almost stagflationary cocktail.

US Rates Nugget: More stagflation confusion from the NFIB