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>The underlying root cause of the “deposit flight” is the monetary policy.</li>
<li>When depositors leave small and medium-sized banks for either money market funds or another bank – something must give on the asset side of the balance sheet.</li>
<li>When credit growth declines, Real Estate is the sector that is hit the most.</li>
</ul>


The underlying root cause of the “deposit flight” is the monetary policy.
When depositors leave small and medium-sized banks for either money market funds or another bank – something must give on the asset side of the balance sheet.
When credit growth declines, Real Estate is the sector that is hit the most.


Regional Bank Watch: On Balance Sheets, The Collateral Damage, and The Spillovers to USD Liquidity