Best Andreas Steno Larsen Podcasts (2024)

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Macro Mondays #56 - 3 recession indicators you need to watch 39:53

3h ago39:53

39:53

Election Bonanza this week on Macro Mondays. We take a look at the UK, French & Iranian election. Furthermore, are we moving towards a Recession or not? Join us! FREE macro newsletter - https://stenoresearch.com/free/ Find out more at www.stenoresearch.com/subscribe Host: Andreas Steno & Mikkel Rosenvold Find our Crypto coverage here - https://sten…

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Macro Mondays #55 - What is China doing with all it’s copper? 38:18

3d ago38:18

38:18

This week on Macro Mondays the team touch upon China & Japan, Hawkish surprises out of “monetary canaries” & the Biden-Trump debate. Join us! Guest: Marc Myllerup of Copenhagen Merchants https://x.com/MarcMyllerup FREE macro newsletter - https://stenoresearch.com/free/ Find out more at www.stenoresearch.com/subscribe Host: Andreas Steno & Mikkel Ro…

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Macro Mondays #54 - The Charts YOU NEED TO KNOW This Week 41:58

10d ago41:58

41:58

Andreas Steno Larsen, founder and CEO of Steno Research, is back for another episode of Macro Mondays with his co-host Mikkel Rosenvold, Steno Research partner and head of geopolitics, to analyze U.S. construction, UK CPI numbers, and Chinese copper markets. They also dig into dollar liquidity and what recent geopolitical events mean for the econom…

1
Macro Mondays #53 - Get the Hell Outta Europe: Inflation, Elections, and Market Moves 39:02

17d ago39:02

39:02

🔥 𝗝𝗢𝗜𝗡 Real Vision for FREE https://rvtv.io/3MMeRfQ. Andreas Steno Larsen, founder and CEO of Steno Research, is back for another episode of Macro Mondays with his co-host Mikkel Rosenvold, partner and head of geopolitics for Steno Research, to dig into what’s going on with the European economy. Andreas and Mikkel also cover China, geopolitics, and…

1
Macro Mondays #52 Escaping the TRAP of Sideways Markets - Guest: Mads Eberhardt 30:38

24d ago30:38

30:38

Macro Mondays is back with all new charts and analysis... Andreas Steno Larsen is back to break down all the latest news, narratives, and market developments in this week’s edition of Macro Mondays. The founder and CEO of @stenoresearch is joined by his co-host, Mikkel Rosenvold, partner and head of geopolitics at Steno Research, and special guest …

1
Macro Monday #51 - Germany rebounding! 30:17

1M ago30:17

30:17

The team takes a look at Germany rebounding implications, Freight rates and the ramifications for Copper, Silver & Natural Gas. Also Crypto News & a look at the week ahead. Join us!By Andreas Steno Larsen

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Macro Sunday #50 - Macro Monday & Copper Tourism? Guest: Freya Beamish 45:08

1M ago45:08

45:08

This week on Macro Sunday ( next week - Macro Monday ) the team touches upon the Ethereum & Bitcoin ETF, freight rates, copper tourism & much more. Join us! Guest: Freya Beamish - TS Lombard https://www.tslombard.com/freya-beamish FREE macro newsletter - https://stenoresearch.com/free/ Find out more at www.stenoresearch.com/subscribe Host: Andreas …

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Macro Sunday #49 - PCI report hot as Greece & Chinas air pollution! Guest: Marvin Barth 53:29

2M ago53:29

53:29

Join the team this week for a discussion on the PCI report, Chinas weather, the business cycle watch & much more. Guest: Marvin Barth - Thematic Markets. https://thematicmarkets.com/ https://twitter.com/marvinjbarth FREE macro newsletter - https://stenoresearch.com/free/ Find out more at www.stenoresearch.com/subscribe Host: Andreas Steno & Mikkel …

1
Macro Sunday #48 - Freddie Mac Proposal, Truth Media Stock & Boeing Scandal 33:07

2M ago33:07

33:07

The team takes a look at the Freddie Mac proposal, the situation in Israel, the Trump hush money trial, rents, inflation and much more. Join in on the discussion! Remember to use Geo30 to get 30% off your subscription. It is a limited offer. Find out more at www.stenoresearch.com/subscribe Host: Andreas Steno & Mikkel Rosenvold Find our Crypto cove…

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Macro Sunday #47 - Trump handling interest & China / Singapore 32:13

2M ago32:13

32:13

The team takes a look at the US economy, the Trump & interest rate situation, China / Singapore and the crypto news. Remember to use Geo30 to get 30% off your subscription. It is a limited offer. Find out more at www.stenoresearch.com/subscribe Host: Andreas Steno & Mikkel Rosenvold Find our Crypto coverage here - https://stenoresearch.com/category…

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Macro Sunday #47 - POSTPONED TO NEXT WEEK 0:43

2M ago0:43

0:43

We are sorry to inform you that this weeks episode has to be postponed to next week, due to reason out of our hands. We wish you a great sunday and hope to see you again next week. Find out more at www.stenoresearch.com/subscribe Find our Crypto coverage here - https://stenoresearch.com/category/crypto-moves/ FREE macro newsletter - https://stenore…

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Macro Sunday #46 - Inflation in developed markets but not in emerging markets? 47:18

2M ago47:18

47:18

We host Vincent Deluard for a discussion on inflation trends in the US, Europe but also in China and Lat-Am. Will the Chinese deflation mainly impact EM, while the shrinking labour force of the West will lead to a renewed inflation pressure in Europe- and the US? Remember to use Geo30 to get 30% off your subscription. It is a limited offer. Find ou…

1
Macro Sunday #45 - Is the next move a rate hike? Guest: Danny Dayan 50:53

3M ago50:53

50:53

We host Danny Dayan for a discussion on the accelerating US inflation picture. Could the Fed move towards a neutral stance in June and a hike in 2025? Danny says yes and offers his compelling arguments Host: Andreas Steno & Mikkel Rosenvold Find our Crypto coverage here - https://stenoresearch.com/category/crypto-moves/ For a 2-week free trial - ht…

1
Macro Sunday #44 - The fake business cycle - Guest: Bob Elliot 39:31

3M ago39:31

39:31

Is the business cycle sending fake signals again, and is it fair that markets have priced out the entire recession risk? How will inflation assets thrive in Q2 given the Manufacturing rebound and are commodities, especially within metals, overbought in light of this? We take the discussion with former CO-CIO of Bridgewater Bob Elliot who is now run…

1
Macro Sunday #43 - Brr-man Powell & ISIS in Russia? Guest: Dario Perkins 55:41

3M ago55:41

55:41

This week on Macro Sunday we take a look at Brr-man Powell, USD inflation, what happened in Russia, how to trade a Biden win & much more. Join us! Host: Andreas Steno & Mikkel Rosenvold Guest: Dario Perkins, TS Lombard 14 days free trial - https://stenoresearch.com/subscribe/ FREE macro newsletter - https://stenoresearch.com/free/ If you enjoy our …

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Macro Sunday #42 - Can the gold rally continue? Guest: Bob Moriarty, 321gold.com 27:10

3M ago27:10

27:10

Andreas is out of town, so it's a show of contrarian takes as we discuss gold, silver and everything related. Can the gold rally continue and what metals and commodities are interesting throughout 2024? We consult the seasoned gold investor and fighter pilot Bob Moriarty of 321gold.com in this edition of Macro Sunday. Host: Mikkel Rosenvold Guest: …

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Macro Sunday #41 - Commodities breaking out - including Crypto! Guest: Mads Eberhardt 40:54

4M ago40:54

40:54

Oil, Copper and Silver have broken out of recent ranges and the overall commodity picture is starting to look technically compelling. Meanwhile, the inflow to the “digital commodity” Bitcoin remains strong leaving to new records by the day! We look into the physical and digital commodity markets in this weeks Macro Sunday. Guest: Mads Eberhardt 14 …

1
Macro Sunday #40 - More liquidity is coming! Guest: Joseph Wang 45:46

4M ago45:46

45:46

Liquidity levels are improving in USDs and more may be upcoming via the depletion of the ON RRP. Will the Fed move towards more benign balance sheet policies over the course of the year? And how about a potential operation "Twist"? Meanwhile, China is allowing the public deficit to grow. Is China the next positive surprise? Guest: Joseph Wang aka. …

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Macro Sunday #39 - Do you own enough commodities? Guest: Tracy Shuchart 42:29

4M ago42:29

42:29

The cyclical rotation of asset markets is ongoing and the Manufacturing sector seems to be improving by the month. The consensus is getting very upbeat on the US growth picture but what about China and Europe? Is the Rest of the World ready to beat expectations and do you own enough commodities in case? Find our research at https://stenoresearch.co…

1
Macro Sunday #38 - MELT UP! Special guest: Mads Eberhardt 42:28

4M ago42:28

42:28

Assets are melting up right, left and center as the optimism around the business cycle is improving. Is it fair to assume that countries outside of the US are improving? And how do you trade the cyclical comeback? Crypto assets are also celebrating the cyclical uptick and we are joined by Mads Eberhardt to discuss the Crypto market post the launch …

1
Macro Sunday #37 - Inflation is BACK! - Guest: Freya Beamish 46:12

5M ago46:12

46:12

We discuss the resurgence of US inflation, which rhymes well with our forward looking indicators. Will inflation return to 2% at all in this cycle? Our guest Freya Beamish of TS Lombard is not positive on China, but sees a strong structural case in Japan. Tune in! Find our latest insights on inflation here - https://stenoresearch.com/watch-series/g…

1
Macro Sunday #36 - Recession called off? Guest: Mikael Sarwe 57:10

5M ago57:10

57:10

Is the US recession called off and is it even possible to talk about a re-acceleration of the economy? Where does it leave the hopes for a cutting cycle from the Fed and how will asset markets respond? Remember to go to www.stenoresearch.com - launch of portfolios, 14 day free trial. Hosts: Andreas Steno, Mikkel Rosenvold & Emil Møller If you enjoy…

1
Macro Sunday #35 - War between the US and Iran? Guest: Jacob Shapiro 43:53

5M ago43:53

43:53

Are we on the verge of war between the US and Iran? The Suez troubles continue but freight rates have leveled off somewhat despite growing tensions between the US and Iran. How close are we to an all in war? We look at the geopolitics and the ramifications for global markets with Jacob Shapiro of Cognitive Investments Hosts: Andreas Steno & Mikkel …

1
Macro Sunday #34 - The Red Sea is WORSENING 42:02

5M ago42:02

42:02

The hopes for a quick solution in the Red Sea are fading and the global inflation impact will likely be lasting. The crisis is now spreading from containers to dry bulk and energy. How will Chinese, European and US markets react to this? Hosts: Andreas Steno, Mikkel Rosenvold and Emil Moller 14 day free trial at www.stenoresearch.com If you enjoy o…

1
Macro Sunday #33 - A new supply shock? Guest: Dario Perkins 53:51

6M ago53:51

53:51

We are once again joined by our favourite global macro economist, Dario Perkins of TS Lombard, to discuss the supply shock in the Red Sea. Will the freight rates wreak havoc with the 2024 cutting cycle consensus? This is your last chance to get 30% off on your yearly subscription at www.stenoresearch.com - use macro30 to get 30% off today! Hosts: A…

1
Macro Sunday #32 - Inflation strikes back! Guest: Bob Elliott 44:53

6M ago44:53

44:53

US inflation is accelerating again but the market is yet to care. Meanwhile, freight rates continue to rise on the back of increasing tensions in the Red Sea and goods inflation is threatening to come back with a vengeance. Will the Fed forward pricing prove to be off? We discuss it with Bob Elliott of Unlimited Funds If you find our research valua…

1
Macro Sunday #31 - Spiking freight rates bringing back inflation? 39:26

6M ago39:26

39:26

The situation in the Red Sea is worsening and freight rates are on the rise in some subsectors. Can the situation escalate into a new inflation spiral and what does it mean for the positive 2024 outlooks from right about every investment bank? We discuss the situation with a selection of analysts at Steno Research. If you find our research valuable…

1
#30 - How’s consensus going to be wrongfooted in 2024? Guest: Marvin Barth 53:14

6M ago53:14

53:14

How are markets positioned for 2024? We discuss the consensus outlook with Marvin Barth of Thematic Markets and weigh pros/cons of betting against the consensus in various asset classes. Will the Soft Landing narrative prevail or will tail scenarios unfold in 2024? Happy New Years from the entire team at Steno Research14-days free trial available a…

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#29 - Inflation Volatility is back! Guest: Claus Vistesen 33:08

7M ago33:08

33:08

Is the new ECB/Fed inflation forecast way off? And will inflation resurface already during 2024? Those are key questions for asset allocators. We host a thought provoking discussion with the tremendous Claus Vistesen of Pantheon. Find out more at www.stenoresearch.com - always 14 days free trial access to our research https://stenoresearch.com/subs…

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#28 - Powell invites for a risk asset party. Guest: Raoul Pal 1:00:31

7M ago1:00:31

1:00:31

Jay Powell invited for a massive risk asset party after the Fed opened the door for several cuts in 2023. Will the Fed suddenly prove to be the most dovish of the big central banks anyway? We assess the outlook for the big three central banks while also discussing whether this is a mid-cycle rate cutting cycle or the start of a recession. Our guest…

1
#27 - There is no fever like gold fever - Guest: Ronnie Stoeferle 59:00

7M ago59:00

59:00

Gold has been rallying hard alongside bonds in October and November, but who are the buyers? Retail or central banks? We discuss the Gold outlook with the author of In Gold We Trust, Ronnie Stoeferle of Incrementum Funds On top of that, we discuss the situation in Guyana and the ramifications for our suffering oil longs. Find out more at www.stenor…

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#26 - Are central banks asleep at the wheel? Guest: Cathie Wood 51:28

7M ago51:28

51:28

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: Cath…

1
#25 - Why is offshore wind not performing? Guest: Suriya Jayanti 1:01:02

7M ago1:01:02

1:01:02

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 im…

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#24 - The End of US Outperformance? - Guest: Mike Green 58:05

8M ago58:05

58:05

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 w…

1
#23 - Are central banks insolvent? Guest: Dario Perkins 58:29

8M ago58:29

58:29

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/cate…

1
#22 - Either you do Japan, or Japan will do you! - Guest: Weston Nakamura 59:16

8M ago59:16

59:16

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 outloo…

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#21 - Is the US Treasury onslaught over? - Guest: Bob Elliott, Unlimited Funds 1:04:36

8M ago1:04:36

1:04:36

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 "macro3…

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#20 - Math and why does it matter? - Guest: Steen Jakobsen, Saxo Bank 37:30

9M ago37:30

37:30

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…

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#19 - Energy Stocks are the New Bonds 41:13

9M ago41:13

41:13

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 a…

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#18 - Higher energy prices triggering a recession? 35:30

9M ago35:30

35:30

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% of…

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#17 - The Nuclear Option 51:10

9M ago51:10

51:10

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…

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#16 - Pause or not, and how to trade it? Guests: Dennis Lockhart and Frances Donald 59:21

10M ago59:21

59:21

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 Ec…

1
#15 - Was that a pause from Lagarde? 28:53

10M ago28:53

28:53

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…

1
#14 - Is the Second Inflation Wave Coming? - Guest: Mikael Sarwe, Nordea Bank 43:07

10M ago43:07

43:07

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 Macro…

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#13 - The Rasputin Effect - Guest: Michael Cembalest, J.P. Morgan 37:32

10M ago37:32

37:32

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…

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#12 - USD patriots vs. CNY patriots - Guest: Tony Nash 55:34

11M ago55:34

55:34

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 o…

1
#11 - Macro Sunday: 3 scenarios for the Chinese response to the RE malaise 42:08

11M ago42:08

42:08

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…

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#10 - A steeper curve to create a recession - Guest: Bob Elliot 42:59

11M ago42:59

42:59

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 sub…

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#9 - Coups, YCC and the big rotation trade 38:47

11M ago38:47

38:47

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.…

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#8 - From recession to Goldilocks - USA USA USA - Guest: Darius Dale 43:03

11M ago43:03

43:03

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 e…

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