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

Positioning Watch – The Chinese Disappointment Is Written All over the Latest Positioning

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>Both equity market shorts and US Treasury shorts are close to all time highs in futures positioning data</li>
<li>But is the positioning data a true indication of the underlying market sentiment?</li>
<li>We doubt it and discuss why both equity and curve positioning could be skewed by technicalities here</li>
</ul>


Both equity market shorts and US Treasury shorts are close to all time highs in futures positioning data
But is the positioning data a true indication of the underlying market sentiment?
We doubt it and discuss why both equity and curve positioning could be skewed by technicalities here


Positioning Watch: The Mystery Behind the Massive Shorts in Equities and Bonds