Senior Cryptocurrency Analyst, Steno Research

Mads Eberhardt

Senior Cryptocurrency Analyst

Macro and Geopolitical Research House

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.

Crypto

<ul><li>Last week, we stuck to our bullish market perspective, and it turned out to be a wise choice.</li><li>Yesterday’s celebration of our spot-on prediction resulted in today’s hangover of mine.</li><li>Interestingly, in Denmark, there is a custom of referring to Thursday as ‘little Friday’ when we go out drinking on those days.</li></ul>

Last week, we stuck to our bullish market perspective, and it turned out to be a wise choice.Yesterday’s celebration of our spot-on prediction resulted in today’s hangover of mine.Interestingly, in Denmark, there is a custom of referring to Thursday as ‘little Friday’ when we go out drinking on those days.

Crypto Moves #14 – It’s Not About What’s There, But What Isn’t

<ul><li>Earlier this week, we shifted to a bullish stance as we noticed promising developments in the cryptocurrency market.</li><li>Concurrently, we launched our cryptocurrency portfolio.</li><li>However, our short-term optimism has been tempered slightly.</li></ul>

Earlier this week, we shifted to a bullish stance as we noticed promising developments in the cryptocurrency market.Concurrently, we launched our cryptocurrency portfolio.However, our short-term optimism has been tempered slightly.

Crypto Moves #13 – Why So Bearish, Anon?

Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Cross Asset Strategy

<ul>
<li>The Empire State Manufacturing Survey has crashed! Only two months during COVID-19 were worse. So, how bad is it?</li>
<li>China is a mess. And it just got worse. The Hang Seng Index collapsed. Are Chinese stocks a buy yet?</li>
<li>UK inflation added to the ‘we must remain hawkish’ narrative of central banks. Yet, many rate cuts are coming.</li>
</ul>


The Empire State Manufacturing Survey has crashed! Only two months during COVID-19 were worse. So, how bad is it?
China is a mess. And it just got worse. The Hang Seng Index collapsed. Are Chinese stocks a buy yet?
UK inflation added to the ‘we must remain hawkish’ narrative of central banks. Yet, many rate cuts are coming.


The Weekly Market Monitor – US Hawkishness, Bitcoin Memes, and China's Value Trap

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

<ul>
<li>Hello everyone, and welcome back to our weekly positioning overview.</li>
<li>We’ve been working on some new ways to look at positioning data across asset classes, and we’ll share some of the inaugural charts in today’s piece and will extend them, week by week.</li>
<li>Markets have more or less traded sideways since the start of the year, as the risk-on party has taken a bit of a breather it seems, despite rate cut expectations becoming even more embedded after the hawkish US CPI surprise last Thursday – strange move, and we’ll be surprised if probabilities don’t reverse within the next couple of price data points.</li>
</ul>


Hello everyone, and welcome back to our weekly positioning overview.
We’ve been working on some new ways to look at positioning data across asset classes, and we’ll share some of the inaugural charts in today’s piece and will extend them, week by week.
Markets have more or less traded sideways since the start of the year, as the risk-on party has taken a bit of a breather it seems, despite rate cut expectations becoming even more embedded after the hawkish US CPI surprise last Thursday – strange move, and we’ll be surprised if probabilities don’t reverse within the next couple of price data points.


Positioning Watch – Where to Find Value Currently

Cross-Asset Liquidity Strategist, CrossBorder Capital

Michael J. Howell

Cross-Asset Liquidity Strategist

Implementing Research Using Alt Data & AI

CrossBorder Capital

CrossBorder Capital is a London-based independent investment advisory firm. Founded in 1996, it exploits a gap in the investment arena by focusing on Central bank liquidity. 

It specialises in the monitoring and analysis of global liquidity flows - an important determinant of asset prices, from currencies through to bonds, equities and real estate.

CrossBorder Capital implements its investment strategy and currently manages over US$ 350m.


<ul>
<li>
 Global Liquidity Cycle bottomed in October 2022.  Cycle set to expand further to a peak in late-2025</li>
<li>
 Federal Reserve liquidity already rising and driven over medium-term by need to monetize mandatory fiscal spending</li>
<li>
 Global Liquidity set to rise by US$12-15 trillion in 2024</li>
</ul>



 Global Liquidity Cycle bottomed in October 2022.  Cycle set to expand further to a peak in late-2025

 Federal Reserve liquidity already rising and driven over medium-term by need to monetize mandatory fiscal spending

 Global Liquidity set to rise by US$12-15 trillion in 2024


United States

Virtual currencies are decentralized, math-based digital assets in which transactions can be performed cryptographically without the need for a central issuing authority. The first specification and proof of concept of Bitcoin, the first widely used virtual currency, was published in 2009 based on a paper published pseudonymously by Satoshi Nakamoto.

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Crypto Moves #14 – It’s Not About What’s There, But What Isn’t

Last week, we stuck to our bullish market perspective, and it turned out to be a wise choice. Yesterday’s celebration of our spot-on prediction...

Steno Research

Crypto Moves #13 – Why So Bearish, Anon?

Earlier this week, we shifted to a bullish stance as we noticed promising developments in the cryptocurrency market. Concurrently, we launched our...

Steno Research

The Weekly Market Monitor – US Hawkishness, Bitcoin Memes, and China's Value Trap

The Weekly Market Monitor! Start your week in financial markets, with some of last week’s biggest surprises, stories and charts.

Jeroen Blokland

Positioning Watch – Where to Find Value Currently

Markets have more or less traded sideways since the start of the year, as the risk-on party has taken a bit of a breather it seems, despite rate...

Steno Research

Global Liquidity And The US Fed Pivot

What are the prospects for Global Liquidity in 2024? We expect Global Liquidity to expand by a further US$12-15 trillion, following last year’s...

Michael J. Howell

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Market Cap (USDm)

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