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

Money Watch: Is the BTFP Just Another Form of QE?

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>Money growth is slowing right about everywhere including in Japan after extreme increases during the early stages of the pandemic</li>
<li>With the recent U-turn in money growth, this means: Everything DOWN, until lower rates saves us again</li>
<li>We take a look at assets and CPI in the 70s and compare it to today’s data to determine what might happen in the macro landscape next</li>
</ul>


Money growth is slowing right about everywhere including in Japan after extreme increases during the early stages of the pandemic
With the recent U-turn in money growth, this means: Everything DOWN, until lower rates saves us again
We take a look at assets and CPI in the 70s and compare it to today’s data to determine what might happen in the macro landscape next


Money Watch: Have People Forgotten that Everything Is About Money? Also the Svb Case..