Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

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.

FX & Rates

<ul><li>Welcome to our short and sweet Fed preview.</li><li>No one expects policy action from the Fed this week, but Powell could decide to reiterate that the dot plot remains intact given the most recent information received.</li><li>We doubt that Powell will bring about a strong guidance for a December hike, but unless the wheels come off, it’s very likely that they will be tempted to deliver that hike come December.</li></ul>

Welcome to our short and sweet Fed preview.No one expects policy action from the Fed this week, but Powell could decide to reiterate that the dot plot remains intact given the most recent information received.We doubt that Powell will bring about a strong guidance for a December hike, but unless the wheels come off, it’s very likely that they will be tempted to deliver that hike come December.

Fed Watch: Why Should the Fed Abandon the Planned Year-End Hike?

Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

<ul><li>There is a supply demand mismatch globally, particularly at the long end of the curve</li><li>Rising term premiums are a concern, especially in the US due to fiscal uncertainty</li><li>While the speed of the recent moves is notable, there are no major financial stability concerns in the US, but Japan may need to take action to address volatility in the super long sector</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

There is a supply demand mismatch globally, particularly at the long end of the curveRising term premiums are a concern, especially in the US due to fiscal uncertaintyWhile the speed of the recent moves is notable, there are no major financial stability concerns in the US, but Japan may need to take action to address volatility in the super long sectorThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global FX & Global Rates: Term premia rising: implications for rates and FX

<ul><li>SLR reform is a high priority for US banking regulators, with potential changes to how Treasuries are calculated</li><li>The timeline for SLR reform is still in the early stages, with regulatory processes and personnel confirmations needing to be completed first</li><li>Potential scenarios for SLR reform include carving out reserves and dealer holdings of Treasuries from the SLR denominator to address liquidity and market functioning concerns</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

SLR reform is a high priority for US banking regulators, with potential changes to how Treasuries are calculatedThe timeline for SLR reform is still in the early stages, with regulatory processes and personnel confirmations needing to be completed firstPotential scenarios for SLR reform include carving out reserves and dealer holdings of Treasuries from the SLR denominator to address liquidity and market functioning concernsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Rates: SLR reform: Helpful, but not a panacea

Podcast by Joe Weisenthal & Tracy Alloway, Odd Lots

Odd Lots

Podcast by Joe Weisenthal & Tracy Alloway

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

<ul><li>Markets are still active, with major moves in rates and currency</li><li>There are conflicting signals in the bond market, with concerns over inflation and the economy slowing down</li><li>Steven Englander from Standard Chartered discusses the dynamics of JGB and UST yields</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Markets are still active, with major moves in rates and currencyThere are conflicting signals in the bond market, with concerns over inflation and the economy slowing downSteven Englander from Standard Chartered discusses the dynamics of JGB and UST yieldsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Why Interest Rates Are Shooting Up All Around the World

<ul><li>Fed's focus on keeping inflation expectations well anchored, stable rates markets after meeting</li><li>Market optimism over potential trade deals with UK and China, potential tariff rate reduction</li><li>Forecast for US Rates largely unchanged, expect labor market weakness prompt Fed response, adjusted yield forecasts reflecting later start to easing and elevated uncertainty</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Fed's focus on keeping inflation expectations well anchored, stable rates markets after meetingMarket optimism over potential trade deals with UK and China, potential tariff rate reductionForecast for US Rates largely unchanged, expect labor market weakness prompt Fed response, adjusted yield forecasts reflecting later start to easing and elevated uncertaintyThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

United States

The US dollar is the official currency of the United States of America.

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Fed Watch: Why Should the Fed Abandon the Planned Year-End Hike?

No one expects policy action from the Fed this week, but Powell could decide to reiterate that the dot plot remains intact given the most recent...

Steno Research

Global FX & Global Rates: Term premia rising: implications for rates and FX

In the global derivatives markets, steepening yield curves and increasing term premiums are causing concerns over supply demand imbalances,...

At Any Rate

Global Rates: SLR reform: Helpful, but not a panacea

Overall, the discussion revolves around the potential impact of SLR reforms on banks and dealers, focusing on various scenarios and considerations...

At Any Rate

Why Interest Rates Are Shooting Up All Around the World

Markets are still active, with major moves in rates and currency There are conflicting signals in the bond market, with concerns over inflation...

Odd Lots

US Rates – Deal or no deal?

The Fed's focus on controlling inflation expectations was overshadowed by market reaction to Trump's trade deal announcement with the UK, optimism...

At Any Rate

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