Our Research
Steno Signals
Steno Signals is our weekly editorial on everything macroeconomic, written by Andreas Steno.
Daily Post
Something for your Espresso is your morning research letter from Steno Research preparing you for the day to come.
Emerging Markets
Emerging Markets delves into the most timely and relevant news and movements from and relevant to emerging markets.
The Great Game
The Great Game is our weekly editorial on geopolitics and global conflict.
Watch Series
Watch Series is a collection of individual series such as Europolitics Watch, Inflation Watch, Real Estate Watch, and much more.
Crypto Moves
Crypto Moves is our detailed editorial that explores topics relevant to the crypto market, helping you stay ready for future developments.
… and much more
We go even further, publishing research applicable to all markets and topics.
We Are A Passionate European Research Power House with a single Goal: To Position You for long-term success.
Located in the heart of Copenhagen, Denmark, our team is composed of brilliant thinkers with expansive expertise. Our domains range from the intricacies of macroeconomic landscapes to the nuances of geopolitical affairs, along with trading strategies and energy matters to digital assets and quantitative approaches. This comprehensive understanding shapes our market insights at your benefit.
Latest Notes
What We Told Hedge Funds: From Disinflation to Reflation
2025-06-13
With the initial stockpiling wave behind us, supply shocks—such as the current one in the oil market—are likely to start impacting prices again. We have reached the bottom in inflation ...The Drill Extra – Israel strikes Iran
2025-06-13Israel struck Iran’s core defenses in a rare window of opportunity. Iran’s weak response so far suggests limited escalation ahead—and low near-term risk for oil and markets.The Drill – Metals, Magnets, and Momentum
2025-06-11Oil is grinding higher despite bearish supply dynamics, while precious metals—from platinum to palladium—are breaking out of multi-year downtrends. With the US-China deal unlocking industrial stimulus and positioning still light, ...
Latest Daily Post
Something for your Espresso – Bet on the Barrel
2025-06-12Geopolitical risk is rising under Trump despite promises to the contrary, and combined with building reflationary pressures, it sets the stage for higher oil prices this summer. With the reflation ...Something for your Espresso – Inflation’s Last Soft Shot
2025-06-11A US-China trade framework is (mostly) in place, but markets aren’t fully buying the narrative. Meanwhile, CPI looms, bond auctions approach, and both the UK and EU continue to underperform ...Week at a Glance – The Inflationary Countdown Has Begun
2025-06-10Markets are treading water ahead of a potential US-China breakthrough, but reflation continues to build beneath the surface as we move closer to summer. This week’s bond auctions and CPI/PPI ...
Always Actionable
Our mission is to pave the way for your success. Besides our written research, our analysis readily converts into actionable trades, available within our Macro Portfolio. Additionally, you’ll discover crypto opportunities in our Crypto Portfolio.
“We are not afraid to publish research that is contrarian to public perception. In fact, we know this is what gives you an edge in the market.”
– Andreas Steno Larsen, Managing Partner
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Wide-Ranging Coverage
We address all the topics and assets that matter to you, including macroeconomics, geopolitics, trading strategies, and digital assets.
Specialized Research and Reports
Our research extends well beyond the resources available on our website. We have the capabilities to provide you with insights on any topic you have in mind.
Bespoke Presentations
Not sure what to say? We’ve got you covered. We share our expertise through presentations at various events for clients around the globe.
