We are joined by the renowned Tech investor Cathie Woods of ARK to discuss the rally in duration heavy equity assets through 2023. Will the rally continue if the Fed is done hiking? And will US Treasury markets also deliver better returns in 2024? All that amidst the turbulence from the OPEC meeting. Hosts: Andreas Steno and Emil Møller Guest: Cathie Woods from https://ark-invest.com/ Steno Research Discount Code: crypto20

We host the former Chief of the Energy unit at the US Embassy in Kiev and co-founder of the Eney LCC, Suriya Jayanti for a discussion of the malaise in offshore wind markets. Why is wind energy suffering and is China to blame? Tune in as we discuss the future energy mix in Europe and the US in light of recent developments and how it is likely to impact your portfolio. For more information about Steno Research go to https://stenoresearch.com/ For more information about the guest of the...

We host the great Mike Green for a talk on the outlook for the strong-going US economy in comparison to Europe and Asia. We also cover the softer-than-expected CPI prints and the subsequent rally in equities and take a victory lap on our Germany trade. To see our full model portfolio and access all our research, sign up for a FREE 2-week trial at www.stenoresearch.com. Hosts: Andreas Steno and Emil Møller Guest: Mike Green, Simplify Asset Management

 We are joined by one of the best central bank watchers in the world, Dario Perkins of TS Lombard to discuss whether negative equity in central banks practically matter.  Dario says theoretically no, but practically yes while also introducing his "Perkins rule" for recession watching.  Check out our new Crypto content at https://stenoresearch.com/category/crypto-moves/ and sign up for a 2 week free trial. You even get 20% off your first three payments with the code 'crypto20'. Hosts:...

The Bank of Japan is the only major currency authority in the post-COVID era to fight back against USD strength via intervention - and win. Can they pull it off again?  We host the great Weston Nakamura for a deep-dive into the Japanese monetary and fiscal policy. Towards the end, we give an update on our current positioning and the portfolio outlook for the remainder of 2023. Use "macro30" to get 30% off your first purchase at www.stenoresearch.com Check out Weston's analysis on his...

We host the great Bob Elliott of Unlimited Funds to a deep dive into the outlook for US Treasuries. What does the new House speaker and upcoming appropriations talks mean for markets and treasuries and how will the US fund yet another war? We also discuss the newest inflations trends and how we position ourselves in these testing times. Use "macro30" to get 30% off your first purchase at www.stenoresearch.com Hosts: Andreas Steno and Emil Moller Guest: Bob Elliott, Unlimited Funds

Live from his vacation home in sunny Spain, Andreas hosts the great Steen Jakobsen of Saxo Bank to a talk on commodities, positioning and in particular "Inflation math". Why are we so slow to adjusting our thinking to a high interest and high inflation environment and how should we adapt? Hear a great analysis from Steen as well as an update on our very own portfolio and current research here at Steno Research. Host: Andreas Steno Larsen Guest: Steen Jakobsen, Saxo Bank

We host the great Warren Pies in a discussion on oil, bonds and everything related. Are energy stocks the new bonds and why? We take a closer look. We also cover recent movements on our model portfolio and what changes we see coming up. Hosts: Andreas Steno and Emil Moller Guest: 3Fourteen Research Use "macro30" to get 30% off your first purchase at www.stenoresearch.com

Will the energy price rally trigger the recession as consumer savings are depleted? We look at this week's EIA data, whether it can be trusted and how it all impacted the world of Macro and your portfolio. The recession is likely in Q1 2024 still - and here's how we view and trade it! Hosts. Andreas Steno and Emil Moller Use "macro30" to get 30% off your first purchase at www.stenoresearch.com

Is the day of reckoning for nuclear power here at last? After years of stagnation, markets are beginning to show some promise for nuclear technology. Today, we'll examine the state of nuclear energy and delve into the current conditions of the commodity and energy markets with John Ciampaglia, CEO of Sprott Asset Management. Remember to get 30% off your first three purchases at www.stenoresearch.com with the coupon code 'macro30'. Hosts: Andreas Steno Larsen and Emil Møller

Are the central banks on pause or not? We cover all the CB decisions/non-decisions this week and talk to former President of the Atlanta Fed and former FOMC member Dennis Lockhart to get his view on the central bank situation.  How does Dennis view the FOMC meeting and the US economy in general? Afterwards, we call up Frances Donald, Global Chief Economist at Manulife Investment for some great analysis of the current situation. What are the right bets in markets and will risk assets surge as...

Has the anti-Europe trade become the consensus or is there still juice in the story? We discuss the prospects of European gas storages and the ongoing recession in the North of the continent. Can Europe surprise negatively and will that surprise the ECB? Should you actually watch Southern Europe and not Northern Europe from here on? We also discuss the differences between the U.S. and European labour markest post-pandemic. Why are we not seeing ghost towns in Europe and what does this mean...

Oil could be up as much as 25-30% during Q4 due to the production cuts out of Saudi Arabia and Russia. This is beginning to smell like the 1970's and we take a closer look at  how that affects inflation and growth with the great Mikael Sarwe of Nordea Bank. We also discuss inflation outlooks in both the U.S. and Europe. Use the exclusive offer Macro30 to get 30% off your subscription at www.stenoresearch.com  Hosts: Andreas Steno Larsen and Mikkel Rosenvold Guest: Mikael Sarwe, Nordea

Is the U.S. labour market finally crashing? What will it take to kill the U.S. economy? We ask Michael Cembalest of J.P. Morgan who explains The Rasputin Effect. We also cover the outlook for fiscal policy, interest rates and the short- and longterm effects of the Chips Act and IRA in this great interview. And of course - we give our take on how to allocate given all of this. Use the exclusive offer Macro30 to get 30% off your subscription at www.stenoresearch.com  Hosts: Andreas Steno and...

Has the PBoC won against speculators in Chinese FX markets? And will equities stabilize due to the contained outflows from China? We invite Tony Nash, former Director at The Economist Intelligence Unit in Asia to discuss the evolving crisis in Beijing. Tony has extensive knowledge from working both in Singapore and China and sees this ongoing tug of war as a patriotic combat. Finally, you get our weekly update on portfolio flows, where we elaborate why again prefer to short assets in our own...

 We host Michael Kao for a discussion on the Chinese tool-box and whether the 7.30 line in the sand will hold or not. The situation is very binary. Either risk appetite will return or else you need to run for the hills. Remeber that you can use Macro30 to get 30% off your subscription at  www.stenoresearch.com 

The yield curve inversion was never a recession signal. An uninversion and higher rates (via bear steepening) is needed to push the economy in to recession. We discuss the allocation playbook given the knowledge we have on the yield curve with Bob Elliot, former Bridgewater and now CIO of Unlimited Funds. You can use Macro30 to get 30% off your subscription at www.stenoresearch.com

Is the big rotation now ongoing in rates and equities after the BoJ steepened the JGB curve? Find out as we discuss the bizarre developments in Niger, Jeddah and Japan in light of the material steepening of the USD curve. You can find more on www.stenoresearch.com and use the exclusive code Macro30 to get 30% off your annual subscription.

From a technical recession in July-2022 to a widespread acceleration in July-2023. The US economy is not done performing and the interest rate sensitivity seems much smaller than usual. What has changed in the US economy and is the soft landing an actual feasible scenario? We host Darius Dale of 42 Macro for a discussion on the strenght of the US economy and how to trade it. If you want more of our transparent and actionable research, you can use the code macro30 to get 30% off your...

Markets initially panicked after the Bank of Japan decision to move the needle on the yield curve control was leaked. The new yield curve control regime is much more flexible, which can actually be seen as a positive. We discuss the surprise decision by Bank of Japan in this short Breaking edition of “Macro Sunday” If you want more of our transparent and actionable research, you can use the code macro30 to get 30% off your subscription at www.stenoresearch.com

Why is the EUR so resilient? And will it continue to be so in the wake of renewed geopolitical turmoil in the Eastern parts of the continent? We welcome Claus Vistesen of Pantheon Economics to discuss the European case. A buy or a sell relative to expectations? Remember that you can use macro30 to get 30% off your subscription at https://stenoresearch.com/subscribe/

Andreas Steno and Emil Moller of Steno Research host Dario Perkins of TS Lombard for a discussion the recession that never arrived. Steno Research had a tremendous trading week after acing the US Inflation Report. What is ahead for inflation after this dovish report and will central banks pause in a coordinated fashion from August and onwards? Remember that you can use the exclusive code “Macro30” to get 30% off your subscription at www.stenoresearch.com - live portfolio, quant tools and...

What's actually going on in Russia? Is the US taking a softer stance towards China with visits from both Blinken and Yellen? And what's going on with the suggested gold-based BRICS currency? We take a deep-dive into current geopolitics with analyst and director Jacob L. Shapiro of Cognitive Investments. Read our continued geopolitical coverage as well as our 15-20 weekly macro articles at Stenoresearch.com. Sign up for a 14 day free trial and use the promo code 'macro30' for 30% off your...

The EUR and European equities have proven surprisingly resilient to a string of weak data from Europe. Why is the EUR trade not rolling over? Andreas Steno hosts fellow Dane Jens Nordvig for a discussion on the Euro area. Remember that you can get 30% off your subscription at www.stenoresearch.com with the discount code “Macro30”

Housing is rebounding and all the sudden the central bank hawks are back on parade. Is it time to call off the recession or will the downside risk increase due to central banks misreading the situation? Andreas Steno and Emil Moller of Steno Research hosts Warren Pies of 3Fourteen Research for a discussion on housing and how to trade it. Read more content from Andreas and Emil on Stenoresearch.com. We provide you with +70 macro insights each month as well as access to our live portfolio and...