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, Steno Research

Emil Moller

Head of Research

Macroeconomics

<ul>
<li>Usually, July is a bit of a zombie month with traders locked in or taking chips off the table to enjoy the beach instead.</li>
<li>But with VIX up some 13% on the week and treasury yields at 15-year highs after a massive rout on the back of a massive beat on the ADP report which today seems to be undermined by a Non-farm payroll report as of writing.</li>
<li>It would seem that the general modus operandi in this point is whether your book can tackle a peak in volatility or not</li>
</ul>


Usually, July is a bit of a zombie month with traders locked in or taking chips off the table to enjoy the beach instead.
But with VIX up some 13% on the week and treasury yields at 15-year highs after a massive rout on the back of a massive beat on the ADP report which today seems to be undermined by a Non-farm payroll report as of writing.
It would seem that the general modus operandi in this point is whether your book can tackle a peak in volatility or not


Portfolio Watch: The Summer Volatility Razor