Head of Research, Steno Research

Emil Moller

Head of Research

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.

Thematic (Sector/Industry)

<ul><li>Recently the FED released its H4 recently which bears some interesting insights into the state of the US banking sector.</li><li>The Reverse Repo facility has been squashed since May while the bank reserves have remained relatively stable.</li><li>We are not at all surprised by the banks’ continued caution throughout the summer, and we expect this risk-averse attitude to persist in the coming quarters.</li></ul>

Recently the FED released its H4 recently which bears some interesting insights into the state of the US banking sector.The Reverse Repo facility has been squashed since May while the bank reserves have remained relatively stable.We are not at all surprised by the banks’ continued caution throughout the summer, and we expect this risk-averse attitude to persist in the coming quarters.

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

<p>There are more US banks with margin expansion in the past six months that have high levels of term deposits, than those that have low term deposits. Re-pricing at especially low rates now, can mean even more NIM expansion. </p>

There are more US banks with margin expansion in the past six months that have high levels of term deposits, than those that have low term deposits. Re-pricing at especially low rates now, can mean even more NIM expansion. 

United States

Luther Burbank Corporation provides banking services. The Bank offers savings accounts, online and mobile banking, bill payment, loans, investment, residential lending, and insurance services. Luther Burbank operates in the United States.

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Luther Burbank (LBC US)

Macro Nugget: US Banks

Recently the FED released its H4 recently which bears some interesting insights into the state of the US banking sector. The Reverse Repo facility...

Steno Research

US Banks – NIM Delta Concentrated

There are more US banks with margin expansion in 1H21 that have high term deposits than those that have low term deposits. Re-pricing at especially...

Daniel Tabbush

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