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

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

<ul>
<li>When the dust settles on this deposit crisis, banks will have to buy more bonds as financial authorities are likely to tighten LCR rules</li>
<li>Banks will have to be punished to a larger extent for holding corporate deposits relative to household deposits</li>
<li>Consequently, banks will have to increase buffers of cash equivalents (bonds) at a time when true cash (central bank reserves) dwindle</li>
</ul>


When the dust settles on this deposit crisis, banks will have to buy more bonds as financial authorities are likely to tighten LCR rules
Banks will have to be punished to a larger extent for holding corporate deposits relative to household deposits
Consequently, banks will have to increase buffers of cash equivalents (bonds) at a time when true cash (central bank reserves) dwindle


Bank Watch - Banks Will Have to Buy MORE Bonds when the Dust Settles