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>It is generally hard to argue that we are near the 2008-like systemic risk scenarios at this juncture</li>
<li>Our quantitative model based on empirical lead/lag studies of hundreds of recession indicators point to 75% risk of a recession starting in Q3</li>
<li>We find the timing increasingly opportune for a manufactured weakening of the CNY versus the USD</li>
</ul>


It is generally hard to argue that we are near the 2008-like systemic risk scenarios at this juncture
Our quantitative model based on empirical lead/lag studies of hundreds of recession indicators point to 75% risk of a recession starting in Q3
We find the timing increasingly opportune for a manufactured weakening of the CNY versus the USD


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