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

EM by EM #28 The Truth Hidden in Plain Sight

EM by EM #29: Biden’s Party, EM’s Hangover & Scholz’s Nightmare

EM by EM #26: Biden, Blinken, Barrels & Beijing

EM by EM #25 Lighting the fuse in the Middle East?

Head of Research, Steno Research

Emil Moller

Head of Research

Cross Asset Strategy

<ul><li>Conclusions upfront: The Chinese stimulus package is too small and the composition underlines the domestic issues in China.</li><li>If Chinese consumers remain conservative, the efforts could be undermined.</li><li>We won’t be surprised to see more policy easing in 2024.</li></ul>

Conclusions upfront: The Chinese stimulus package is too small and the composition underlines the domestic issues in China.If Chinese consumers remain conservative, the efforts could be undermined.We won’t be surprised to see more policy easing in 2024.

Hang Seng China Enterprises Index (HSCEI INDEX)

Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX EQUITY)

Shanghai Stock Exchange Composite Index (SHCOMP INDEX)

Shenzhen Stock Exchange Composite Index (SZCOMP INDEX)

EM by EM #27 Not a Bazooka, but a Pumpgun