Macro Mondays
Andreas Steno Larsen
Each and every Sunday, former Global Chief Strategist of Nordea Bank, Andreas Steno, invites colleagues and friends of Steno Research to share their views on the world of macro and geopolitics with loads of actionable content.We will maintain FULL independence without capital interests in having specific views and provide 100% transparency around how we trade and view the worldThe podcast will be the most entertaining and yet serious podcast in the Macro Space and as you will notice our trade ideas will be “SOMETIMES MAYBE GOOD, SOMETIMES MAYBE SHIT” (Listen to understand the context) Find out more about Steno Research with the 30% discount code “macro30” at www.stenoresearch.com/subscribe
Episodes
Mentioned books
31 snips
Oct 27, 2025 • 29min
The Tariff Battle Heats Up
Dive into the latest tariff tensions as the hosts unpack renewed talks with China and Canada. They reveal how China's rare earths leverage impacts global markets and explore Western strategies to secure alternative supply chains. The conversation shifts to inflation, dissecting fresh CPI data and its implications on market dynamics. Discover how tariffs are gradually affecting consumer prices and why political shocks are becoming routine for investors. Plus, a look at silver's future as a trade and the potential for increased liquidity.
27 snips
Oct 21, 2025 • 31min
Are We in an AI Bubble?
Hosts dissect the possibility of an AI bubble as unprofitable tech stocks surge amid easing monetary policy. They debate the growth-over-revenue mentality in Silicon Valley, noting how retail investors are pushing the market while institutions remain cautious. The discussion touches on the impact of recent tweets on market volatility and inflated tariff fears that may only slightly affect GDP. Insights on Q4 predictions highlight lighter crypto positioning and the potential for significant volatility spikes ahead.
36 snips
Oct 6, 2025 • 29min
Bitcoin Soars, Japanese Bonds Buckle
In recent market trends, Bitcoin is making headlines with its impressive rally, while Japan faces political shifts affecting its bond market. A surprising dip in labor data raises questions about the Fed's priorities. Discussions highlight the realistic expectations for Bitcoin investments and the ongoing demand for copper driven by China’s electrification. The podcast also delves into energy challenges for AI and data centers, emphasizing the crucial need for electricity as a bottleneck. Portfolio strategies signal a bullish outlook amid easing inflation.
38 snips
Sep 23, 2025 • 30min
Fed Cuts, Flash Crash, and Geopolitics
Dive into the wild weekend crypto flash crash, where liquidity shortages triggered a dramatic downturn. Analyze whether this dip offers a prime buying opportunity, distinguishing between institutional and retail strategies. Explore the implications of new H-1B fees on tech startups, alongside tensions in Russian airspace and their effects on European defense. Delve into market quirks, investment opportunities in gold and miners, and the shifting dynamics of the dollar as a reserve currency.
40 snips
Sep 16, 2025 • 30min
Most-Hated Rally Ever?
Market analysts delve into the upcoming Fed interest rate decision, questioning why the current U.S. equity rally is deemed the 'most hated' on Wall Street. They explore AI-driven capital expenditure's potential to reshape the business landscape and discuss the complex dynamics of U.S.-China trade relations. The conversation shifts to dollar positioning and its implications for crypto and risk assets, all while navigating uncertainties in the economic climate.
47 snips
Sep 8, 2025 • 31min
Weak U.S. Jobs, Europe in Crisis, & the Oil Setup
The hosts delve into the recent weak jobs report, raising eyebrows about the future of rate cuts and market stability. They explore the complexities of the U.S. labor market, revealing slow job growth amid layoffs. Political crises in France, the UK, and Japan are analyzed for their impact on investment strategies. Plus, there’s a spotlight on oil dynamics that could lead to lucrative opportunities. Historical comparisons, especially involving Donald Trump, add a compelling twist to today's economic narrative.
29 snips
Aug 26, 2025 • 31min
Crypto Volatility, China Rallies... Is the U.S. Next?
The hosts dissect Jerome Powell’s pivotal speech at Jackson Hole, revealing its impact on markets. They discuss Trump’s tactics to sway the Federal Open Market Committee and the subsequent implications for policy. Insights into U.S. equity flows and crypto volatility are explored, alongside the surprising resilience of the U.S. market amidst geopolitical tensions and the Chinese stock rally. Listeners are encouraged to rethink the potential of U.S. assets as skepticism grows in other markets.
32 snips
Aug 12, 2025 • 33min
Strong Dollar Means Weak Dollar?
The hosts discuss the intriguing dynamics of the U.S. dollar, exploring how its strength influences global trade and geopolitics. They dissect Trump's unexpected view on a 'strong dollar' and its broader implications. A humorous take on 'Liberation Days' adds levity, while serious analysis covers firefighter salaries and tech valuations. The conversation also touches on the impacts of inflation, tariffs, and global events like the Ukraine conflict, all while forecasting market trends affecting Ethereum.
42 snips
Jul 10, 2025 • 34min
Global Trade Rewired
Sweden's surprising inflation trends could signal shifts in the global economy. The hosts dive into political antics shaping trade negotiations and discuss the complexities of U.S. tariffs. With OPEC's recent oil production increase, the impact on the shale industry is scrutinized. They also explore how AI and policy changes are transforming the U.S. labor market, creating challenges for workers. Finally, insights into China's role in U.S. trade dynamics reveal crucial market trends and highlight the need for investor patience.
7 snips
Jun 24, 2025 • 28min
Iran Tensions Over?
Tensions around Iran escalate, affecting global markets and cryptocurrency dynamics. The hosts discuss internal Republican conflicts over foreign policy, particularly its implications for Israel and Iran. Trump's foreign policy challenges are explored, shedding light on divisions within his party. The geopolitical landscape in the Strait of Hormuz takes center stage, revealing Iran's military potential and its effect on oil trade. Insights on Saudi Arabia's influence over pricing trends and the U.S. military's role deepen the conversation around market volatility.
