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
Jan 7, 2024 • 39min
Macro Sunday #31 - Spiking freight rates bringing back inflation?
The podcast discusses the potential impact of high issuance and supply chain disruptions on inflation, focusing on Europe and transportation. They explore the recent attacks on freight ships in the Red Sea and its implications for global trade. The consequences of the Federal Reserve's actions and Bitcoin's ETF approval are also discussed, along with the country's debt, rising energy prices, and interest rates. The chapter concludes with a conversation about high inflation and its impact on freight rates, as well as potential strategies for investing in shipping companies.
Dec 31, 2023 • 53min
#30 - How’s consensus going to be wrongfooted in 2024? Guest: Marvin Barth
Marvin Barth from Thematic Markets joins the hosts to discuss the consensus outlook for 2024 and the pros/cons of betting against it. Topics include the ongoing war between Russia and Ukraine, the potential return of Donald Trump, debunking predictions, implications of a globalization shift on credit events, and concerns about future political instability in the US.
Dec 24, 2023 • 33min
#29 - Inflation Volatility is back! Guest: Claus Vistesen
The podcast features Claus Vistesen, Economist at Pantheon, as a guest. The host and guest discuss recent inflation prints in the UK and the US, the challenges faced by the European Central Bank (ECB) in guiding market expectations, and the possibility of ECB cutting interest rates. They also explore the uncertainties and indicators pointing towards re-acceleration in inflation next year.
Dec 17, 2023 • 1h 1min
#28 - Powell invites for a risk asset party. Guest: Raoul Pal
Raoul Pal, a guest on the podcast, discusses the late reaction of central banks to recessionary pricing of risk assets. The podcast explores the abuse of communication tools in monetary policy, the relationship between the US treasury and the federal reserve, the impact of AI on GDP growth, the role of humans in digital communities, and analysis of domestic indicators and energy supply risks.
Dec 9, 2023 • 59min
#27 - There is no fever like gold fever - Guest: Ronnie Stoeferle
Ronnie Stoeferle, author of In Gold We Trust and of Incrementum Funds, discusses the recent performance of gold and the buyers behind its rally. The podcast also covers the state of the US economy, the credibility of the Federal Reserve, and the impact of US elections. Geopolitical risks in US operations near Guiana and Venezuela are explored, as well as the idea of filling up the Strategic Petroleum Reserve and the exponential age.
Dec 3, 2023 • 51min
#26 - Are central banks asleep at the wheel? Guest: Cathie Wood
Renowned tech investor Cathie Woods discusses the rally in duration heavy equity assets through 2023, the impact of central banks on the market, and the redefining of markets through innovation. The conversation also touches on investment strategy, oil market dynamics, and the potential rebound of ISM services.
Nov 26, 2023 • 1h 1min
#25 - Why is offshore wind not performing? Guest: Suriya Jayanti
Former Chief of the Energy unit at the US Embassy in Kiev and co-founder of the Eney LCC, Suriya Jayanti, discusses the challenges of offshore wind, the importance of a diversified energy mix, and China's role in the energy transition. The speakers also explore investing in the green transition during a global recession and analyze the relationship between mortgage-backed securities and corporate credit. They conclude by discussing the current state of energy markets and oil production.
Nov 19, 2023 • 58min
#24 - The End of US Outperformance? - Guest: Mike Green
Mike Green, guest from Simplify Asset Management, joins hosts to discuss the outlook for the US economy compared to Europe and Asia. They analyze the recent inflation report, market conditions, recession possibility, and the consequences of Fed's interest rate hike. They also discuss the limitations of solar energy, the inflation reduction act, the Green New Deal, and China's economy.
5 snips
Nov 12, 2023 • 58min
#23 - Are central banks insolvent? Guest: Dario Perkins
Dario Perkins, central bank watcher and creator of the Perkins rule, discusses central bank insolvency, fiscal consequences of quantitative easing (QE), and the impact of Asian trade on Federal Reserve's decision. They also explore the long-term consequences of QE and delve into the factors driving the recent move in Bitcoin.
Nov 5, 2023 • 59min
#22 - Either you do Japan, or Japan will do you! - Guest: Weston Nakamura
Japanese monetary and fiscal policy expert Weston Nakamura discusses the Bank of Japan's success in fighting against USD strength, challenges of normalizing monetary policy, analyzing trends and manipulating statistics, exploring political uncertainties and defense expenditures, the impact of forceful push on US yields and the European equation of debt, and analysis of the UK financial sector and labor market conditions.
