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

The Drill – What will world peace mean for markets?

The Drill – Oil down and precious metals UP.. The short USD trade in Geopolitics

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macroeconomics

<ul><li>Hello everyone, and welcome back to our weekly editorial on geopolitics, energy, and metals.</li><li>As always, there is plenty to dig into amid tariff headlines, fresh sanctions, and souring sentiment in both U.S. equities and broad cyclical commodities.</li><li>We have visited this argument before, but it’s important to address the reasons behind the ongoing selloff in oil (and to some extent natural gas) despite somewhat positive headlines from OPEC+, fresh sanctions targeting Iran, Putin pushing back on a deal, and more tariff headlines on Canada and Mexico, increasing the likelihood of short-term supply squeezes in crude markets.</li></ul>

Hello everyone, and welcome back to our weekly editorial on geopolitics, energy, and metals.As always, there is plenty to dig into amid tariff headlines, fresh sanctions, and souring sentiment in both U.S. equities and broad cyclical commodities.We have visited this argument before, but it’s important to address the reasons behind the ongoing selloff in oil (and to some extent natural gas) despite somewhat positive headlines from OPEC+, fresh sanctions targeting Iran, Putin pushing back on a deal, and more tariff headlines on Canada and Mexico, increasing the likelihood of short-term supply squeezes in crude markets.

The Drill – Buy in May and Go Away Might Hold for Commodities This Time Around