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 recommended issuance presents a weighted average maturity of 9.47 years, which is almost two years further out than seen since Nov/21 and through 2022 and 2023 so far.</li>
<li>All in all, we should expect the USD liquidity to shrink at a pace around $150bn a month.</li>
<li>We expect that the effects from the ON RRP will lessen the blow for equities and other risk assets.</li>
</ul>


The recommended issuance presents a weighted average maturity of 9.47 years, which is almost two years further out than seen since Nov/21 and through 2022 and 2023 so far.
All in all, we should expect the USD liquidity to shrink at a pace around $150bn a month.
We expect that the effects from the ON RRP will lessen the blow for equities and other risk assets.


US Debt Watch: Who’ll Absorb the Blow?