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
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.
30 snips
Jun 17, 2025 • 22min
Geopolitics Driving Markets Again
Andreas Steno and Mikkel Rosenvold delve into the geopolitical events shaping market volatility. They discuss the escalating tensions between Israel and Iran, and the historical context that informs investor strategies. The urgency for negotiations amid Iran's vulnerabilities is highlighted, alongside the implications for global oil markets. The duo also analyzes the upcoming Federal Reserve meeting, tying inflation trends and labor dynamics to economic outcomes. Plus, there's speculation on candidates for the Fed chairmanship and their ties to Trump.
19 snips
Jun 3, 2025 • 26min
Ukraine strikes and the state of sanctions
The discussion kicks off with Ukraine's audacious drone strike on Russian air bases, setting the stage for shifts in global markets. Rising commodity prices, especially in oil and metals, come under scrutiny as geopolitical tensions escalate. There's a deep dive into Europe's soaring defense budgets, particularly Denmark's significant increase. Macro trends reveal concerns about the U.S. budget deficit and its effects on bond markets. Finally, trade policies from previous administrations are analyzed for their lingering impacts on tariffs and market strategies.
34 snips
May 19, 2025 • 31min
Downgrades, Debt, and Digital Gold
The podcast dives into the recent U.S. debt downgrade by Moody's and its possible repercussions on market stability. Discussions on geopolitical developments highlight Middle Eastern investment pledges and their skepticism. The conversation shifts to Bitcoin's performance against rising bond yields, examining market psychology. With insights into the impact of the Pope's passing on U.S.-Europe trade, the hosts also address NATO's defense spending challenges and the evolving cybersecurity investment landscape. It's a thought-provoking analysis of macroeconomic trends and personal finance dynamics.
9 snips
May 13, 2025 • 26min
A Path to Trade War Diffusion
Explore the surprising connection between a football match and a new U.S.-China trade deal, and its impact on cryptocurrency. Delve into the geopolitical landscape, focusing on potential peace talks between Ukraine and Russia, and the resulting market ripple effects. Discover how Ethereum is bouncing back as oil prices spike and learn about inflation's influence on investment strategies. Finally, dive into the latest initiatives aimed at lowering prescription drug costs and how they tie into the global economic scene.
21 snips
May 5, 2025 • 30min
Is Trump’s Plan Working?
The hosts dive into the evolving trade relations between the U.S. and China, highlighting a recent surge in Chinese purchases of U.S. Treasuries. They delve into the fluctuation of the New Taiwan dollar and the surprising positive ISM services report. A bold proposal for hefty tariffs on foreign films sparks a discussion on its impact on digital content and streaming giants. Additionally, the show assesses the implications of currency dynamics amid a weaker dollar and explores global monetary policy's influence on market sentiment.
15 snips
Apr 28, 2025 • 30min
Is Macro Data Dead?
Steno Research founder and CEO Andreas Steno Larsen is back with his co-host Mikkel Rosenvold, the firm's partner and head of geopolitics, to examine the latest news and trends driving global markets. From Ukraine-Russia ceasefire talks to the U.S.-China trade war, dollar debasement, and the bitcoin rally, they cover it all.
6 snips
Apr 8, 2025 • 30min
What Could Reverse This Market Meltdown?
In a tumultuous market, sharp declines in indices raise eyebrows. The discussion unveils hidden investment opportunities during panic. Newly imposed tariffs with Vietnam complicate global trade, influencing companies like Nike. Madagascar's economic struggles highlight global trade intricacies, as the U.S. shows resilience. The hosts analyze market dynamics, indicating signs of reversal and offering strategic investment insights in commodities amid shifting Federal Reserve policies.
