Macro Mondays

Inflation Inbound? | Macro Mondays: May 4, 2026

04 May 2026

Contributed by Lukas

Andreas Steno Larsen and Mikkel Rosenvold are back to break down the latest shifts in global markets, starting with fresh developments in the Strait o...

The Rally Nobody Believes In | Macro Mondays: April 27, 2026

27 Apr 2026

Contributed by Lukas

Andreas Steno Larsen and Mikkel Rosenvold break down the latest developments in the Strait of Hormuz as a risk for global energy flows and supply chai...

Oil Risk Returns, But Do Markets Even Care? | Macro Monday: April 20, 2026

20 Apr 2026

Contributed by Lukas

As the ceasefire between the U.S. and Iran falters, bringing oil flows back under pressure, Andreas Steno Larsen and Mikkel Rosenvold break down the g...

Iran Talks Collapse: A New Surge in Inflation? | Macro Mondays: April 13, 2026

13 Apr 2026

Contributed by Lukas

Geopolitics is still in focus after failed talks between the U.S. and Iran in Pakistan over the weekend and President Donald Trump's threat of a ...

Why Markets Are Resilient | Macro Mondays: April 6, 2026

06 Apr 2026

Contributed by Lukas

As tensions between the U.S. and Iran drive volatility in oil markets and raise fresh inflation concerns, Andreas Steno Larsen and Mikkel Rosenvold br...

Risk Isn’t Gone | Macro Mondays: March 30, 2026

30 Mar 2026

Contributed by Lukas

Steno Research founder and CEO, Andreas Steno, is back with co-host Mikkel Rosenvold, to dive into the latest headlines in macro. As the Iran war ente...

The Real Risk Goes Beyond War | Macro Mondays: March 23, 2026

23 Mar 2026

Contributed by Lukas

Steno Research founder and CEO Andreas Steno is back with his co-host, Steno Research’s head of geopolitics, Mikkel Rosenvold, to break down the lat...

Markets Confront Iran Risk and Fed Policy | Macro Mondays March 16th, 2026

16 Mar 2026

Contributed by Lukas

Steno Research founder and CEO Andreas Steno is back with his co-host Mikkel Rosenvold to discuss the growing risks in Iran and what oil supply disrup...

How High Will Oil Prices Go? | Macro Mondays: March 9, 2026

09 Mar 2026

Contributed by Lukas

Steno Research founder Andreas Steno is back with his co-host Mikkel Rosenvold, the firm's partner and head of geopolitics, to examine the latest...

Markets React to War in Iran | Macro Mondays: March 2, 2026

02 Mar 2026

Contributed by Lukas

Steno Research founder and CEO Andreas Steno is back with his co-host, Mikkel Rosenvold, to break down how the U.S. and Israel's escalating milit...

Do Markets Care About Trump’s Tariffs? | Macro Mondays: February 23, 2026

23 Feb 2026

Contributed by Lukas

Andreas Steno Larsen is back with co-host Mikkel Rosenvold to break down the biggest forces driving markets, from escalating U.S.-Iran tensions to Pre...

Dalio: "The World Order Has Broken Down"

16 Feb 2026

Contributed by Lukas

Andreas Steno, founder and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, partner and head of geopolitics, on the latest Macro Mond...

A Regime Shift in Volatile Times

10 Feb 2026

Contributed by Lukas

Oil, Metals, and More Geopolitical Risk | Macro Mondays: Feb. 2, 2026

02 Feb 2026

Contributed by Lukas

Andreas Steno and Mikkel Rosenvold of Steno Research break down the mounting U.S.–Iran tensions, the implications for oil, the U.S.–China decoupli...

Rates, Risks, and Reality

26 Jan 2026

Contributed by Lukas

Mikkel Rosenvold, partner and head of geopolitics at Steno Research, breaks down the latest forces driving global markets with insights from the annua...

Europe, Trump & the Limits of Trade Escalation

19 Jan 2026

Contributed by Lukas

Andreas Steno and Mikkel Rosenvold of Steno Research break down the macro headlines shaping markets. Discussing Trump’s renewed tariff threats and t...

Open War: Trump Targets the Fed

12 Jan 2026

Contributed by Lukas

☀️ Crypto Gathering Miami 2026: not everyone wants the full conference sprint. That’s why there’s the Social Pass ($300): welcome drinks, beac...

New Year, New Geopolitical Shockwaves

05 Jan 2026

Contributed by Lukas

The first Macro Mondays of 2026 kicks off with global markets already on edge. Andreas Steno Larsen and Mikkel Rosenvold are back to break down the dr...

Year-End Macro Wrap

22 Dec 2025

Contributed by Lukas

It’s the final Macro Monday show of 2025…! Andreas Steno and Mikkel Rosenvold of Steno Research are here to recap what we learned after a volatile...

Are AI Stocks in Danger?

15 Dec 2025

Contributed by Lukas

Andreas Steno Larsen, founder and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, partner and head of geopolitics for Steno Research...

All Eyes on Rate Cuts?

08 Dec 2025

Contributed by Lukas

What's Going on with JPY Carry Trade?

01 Dec 2025

Contributed by Lukas

Steno Research founder and CEO Andreas Steno Larsen and partner & head of geopolitics Mikkel Rosenvold return for another edition of Macro Mondays...

Will the Fed Cut in December?

24 Nov 2025

Contributed by Lukas

Andreas Steno Larsen, founder and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, partner and head of geopolitics for Steno Research...

Fed Cuts Coming or Crisis Brewing?

17 Nov 2025

Contributed by Lukas

Andreas Steno Larsen and Mikkel Rosenvold of Steno Research break down the latest news and trends driving the latest drawdown in global risk assets. T...

The Printer Is Coming

10 Nov 2025

Contributed by Lukas

Andreas Steno Larsen, founder and CEO of Steno Research, and Mikkel Rosenvold, partner and head of geopolitics for Steno Research, are back to break d...

Is China Winning the Trade War?

03 Nov 2025

Contributed by Lukas

Andreas Steno Larsen and Mikkel Rosenvold of Steno Research dissect the latest macro news and trends driving global markets. The Fed cut rates as expe...

The Tariff Battle Heats Up

27 Oct 2025

Contributed by Lukas

Andreas Steno Larsen and Mikkel Rosenvold of Steno Research unpack the renewed tariff talks with China and Canada, fresh inflation data shaking market...

Are We in an AI Bubble?

21 Oct 2025

Contributed by Lukas

Andreas Steno Larsen and Mikkel Rosenvold of Steno Research are back to break down whether we’re entering a new AI bubble, what the Fed’s next mov...

Bitcoin Soars, Japanese Bonds Buckle

06 Oct 2025

Contributed by Lukas

Andreas Steno and Mikkel Rosenvold of Steno Research break down the latest news and trends driving markets, from inflation and labor data to Bitcoin’...

Fed Cuts, Flash Crash, and Geopolitics

23 Sep 2025

Contributed by Lukas

Andreas Steno and Mikkel Rosenvold of Steno Research are back to break down the biggest news and trends driving global markets.

Most-Hated Rally Ever?

16 Sep 2025

Contributed by Lukas

Andreas Steno Larsen and Mikkel Rosenvold of Steno Research preview the upcoming Fed interest rate decision and break down everyting driving markets r...

Weak U.S. Jobs, Europe in Crisis, & the Oil Setup

08 Sep 2025

Contributed by Lukas

Andreas Steno and Mikkel Rosenvold of Steno Research dissect the latest news and trends after another weak jobs reports injected more uncertainty into...

Crypto Volatility, China Rallies... Is the U.S. Next?

26 Aug 2025

Contributed by Lukas

Andreas Steno and Mikkel Rosenvold of Steno Research are back to break down the fallout from Fed Chair Jerome Powell’s Jackson Hole press conference...

Strong Dollar Means Weak Dollar?

12 Aug 2025

Contributed by Lukas

Andreas Steno Larsen and Mikkel Rosenvold of Steno Research go live to unpack the latest in global macro. From Trump’s surprising “strong dollar”...

Global Trade Rewired

10 Jul 2025

Contributed by Lukas

Andreas Steno, founder and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, the firm’s partner and head of geopolitics to disucss S...

Iran Tensions Over?

24 Jun 2025

Contributed by Lukas

NOTE: This episode was recorded and streamed on Monday, before the Iranian strikes on Qatar and the subsequent cease-fire. To watch the show live in t...

Geopolitics Driving Markets Again

17 Jun 2025

Contributed by Lukas

Andreas Steno, founder and CEO of Steno Research, is back with Mikkel Rosenvold, partner and head of geopolitics for Steno Research, to break down the...

Ukraine strikes and the state of sanctions

03 Jun 2025

Contributed by Lukas

Andreas Steno, founder and CEO of Steno Research, joins Mikkel Rosenvold, the firm's partner and head of geopolitics, to discuss the latest Ukrai...

Downgrades, Debt, and Digital Gold

19 May 2025

Contributed by Lukas

Andreas Steno, founder and CEO of Steno Research, is back with Mikkel Rosenvold, partner and head of geopolitics at Steno Research, to break down Mood...

A Path to Trade War Diffusion

13 May 2025

Contributed by Lukas

Steno Research founder and CEO Andreas Steno Larsen is back with his co-host Mikkel Rosenvold, partner and head of geopolitics at Steno Research, to u...

Is Trump’s Plan Working?

05 May 2025

Contributed by Lukas

Steno Research founder and CEO Andreas Steno Larsen is back with his co-host, Mikkel Rosenvold, the company’s partner and head of geopolitics, to di...

Is Macro Data Dead?

28 Apr 2025

Contributed by Lukas

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 exa...

What Could Reverse This Market Meltdown?

08 Apr 2025

Contributed by Lukas

Andreas Steno Larsen, founder and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, the firm's partner and head of geopolitics, t...

No more safe havens? Well, maybe...

01 Apr 2025

Contributed by Lukas

Steno Research founder and CEO Andreas Steno Larsen is back with his co-host Mikkel Rosenvold, partner and head of geopolitics for Steno Research, to ...

How to Trade the Geopolitical Firehose

25 Mar 2025

Contributed by Lukas

Steno Research partner and head of geopolitics, as well as COO of Asgard-Steno Global Macro, Mikkel Rosenvold is here to break down the many geopoliti...

How to trade the inflation schism

18 Mar 2025

Contributed by Lukas

Andreas Steno Larsen, founder and CEO of Steno Research and CIO at Asgard-Steno Global Marco, is back with his co-host Mikkel Rosenvold, partner and h...

Have We Reached the Bottom in Equities?

11 Mar 2025

Contributed by Lukas

Andreas Steno Larsen, founder and CEO of Steno Research and CIO at Asgard-Steno Global Marco, is back with his co-host Mikkel Rosenvold, Steno Researc...

Why reciprocal tariffs are a GOOD thing

17 Feb 2025

Contributed by Lukas

In the weekly macro update, Andreas Steno and Mikkel Rosenvold guide you through current macro events, including tariffs, Ukraine, liquidity and soft ...

Could Trump actually bring global tariffs DOWN?

11 Feb 2025

Contributed by Lukas

Andreas Steno Larsen, founder and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, the firm’s partner and head of geopolitics, to b...

3 Good Tariff Trades for a Crazy Week!

03 Feb 2025

Contributed by Lukas

Andreas Steno Larsen, founder, and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, partner and head of geopolitics for Steno Researc...

DeepSeek panic or opportunity?

28 Jan 2025

Contributed by Lukas

Apologies for the late update - we had some technical difficulties. Remember to check out RealVision.com for your options and extended coverage.Hosts:...

Trump Inauguration Preview - And everything NOT Trump

20 Jan 2025

Contributed by Lukas

We preview the Trump Inauguration from a Macro perspective - AND try to take a break from all the Trump nonsense with some good old macro analysis!Hos...

Raoul Pal: What Happens If Trump's Dollar Playbook FAILS?

13 Jan 2025

Contributed by Lukas

 🔥 Get Raoul Pal's FREE PDF report: https://rvtv.io/3YOZZUe. Andreas is back with Raoul Pal ‪@RaoulPalTJM‬  our special guest to break i...

These Are the TOP Trades for 2025

07 Jan 2025

Contributed by Lukas

Bitcoin back over 100K! Andreas & Mikkel discuss tariffs, QE, and market strategies for 2025.Andreas Steno Larsen, founder and CEO of Steno Resear...

5 good trades for 2025

16 Dec 2024

Contributed by Lukas

Andreas Steno Larsen, founder and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, partner and head of geopolitics for Steno Research...

Macro Mondays: Global Stimulus Signals

10 Dec 2024

Contributed by Lukas

Andreas Steno Larsen, founder and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, the firm's head of geopolitics, to explore th...

Trump vs. China: What’s Next for Global Markets?

03 Dec 2024

Contributed by Lukas

Andreas Steno Larsen, founder and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, the firm's head of geopolitics, to break down...

Markets Are Screaming for Liquidity

25 Nov 2024

Contributed by Lukas

🔥 Black Friday SALE: Up to 50% OFF across Real Vision https://rvtv.io/4eZ2PLr. Andreas Steno Larsen, founder and CEO of Steno Research, is back wit...

Will the Fed Finish the Job?

19 Nov 2024

Contributed by Lukas

Will the Fed Finish the Job? Andreas Steno Larsen, founder and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, partner and head of g...

Macro Mondays #74 - When the Trump bet dies, here's what to look for

11 Nov 2024

Contributed by Lukas

We assess the fallout from the Presidential election. How long will the Trump wave last and what's hiding behind it all in the macro world?Host: ...

Macro Mondays #73 - What the f*ck is happening to Bonds?

04 Nov 2024

Contributed by Lukas

As the election looms we take a closer look at the bond market in the aftermath of an abysmal jobs report on Friday. We also preview Fed and BoE meeti...

Macro Mondays #72 - Are markets prepared for a liquidity tsunami?

28 Oct 2024

Contributed by Lukas

We take a closer look at the upcoming wave if liquidity expected from the US Fed. How is Andreas Steno positioned for this and how can you prepare?We ...

Macro Mondays #71 - the Polymarket effect

21 Oct 2024

Contributed by Lukas

Has the volatile Polymarket betting on the US Presidential Election boosted the USD and what does this tell us about markets and the likely reception ...

Macro Mondays #70 - The Beijing Nothing Burger

15 Oct 2024

Contributed by Lukas

The Beijing "fiscal bazooka" has been center of attention in global macro in recent weeks, but what did we actually get from the Chinese gov...

Macro Mondays #69 - Stimulating an OK economy

07 Oct 2024

Contributed by Lukas

Is the Fed cutting into strenght, and will the economy make a comeback into 2025? We look at the models after the NFP surprise.Monetary Metals pays a ...

Macro Mondays #68 - China bringing a potent knife to a gunfight?

30 Sep 2024

Contributed by Lukas

The rally in Chinese-linked assets is one of the most bizarre seen in newer financial markets history. Is the Chinese stimulus package a game-changer ...

Macro Mondays #67 - How to position for the cutting season?

23 Sep 2024

Contributed by Lukas

We digest the jumbo cut and take a deep dive into what our models tell us about the ideal positioning in this scenario.We also cover key risk areas - ...

Macro Mondays #66 - 25BP or 50BP? And how to position

16 Sep 2024

Contributed by Lukas

We evaluate last week's key CPI numbers and look ahead to the FOMC meeting this week. While a cut seems destined, it's going to be extremely...

Macro Mondays #65 - Is this sell-off even worse?

09 Sep 2024

Contributed by Lukas

It's been another red week in markets, so we take a closer look at the macro factors driving the development and what the outlook is for the comi...

Macro Mondays #64 - Was the H1 Rebound a fake?

03 Sep 2024

Contributed by Lukas

We take a closer look at the manufacturing rebound in the first half of 2024. Was is a real rebound or driven by temporary, "fake" circumsta...

Macro Mondays #63 - What to make of Powell's Jackson Hole Speech

26 Aug 2024

Contributed by Lukas

We take a closer look at Jay Powell's Jackson Hole Speech and gauge the unemployment and inflation outlook for the US. Furthermore, we dive into ...

Macro Mondays #62 - Shelter, liquidity & is it time to buy again?

19 Aug 2024

Contributed by Lukas

This week we take a look at whats going on in the Ukraine, advisors taking a pessimistic turn, where is liquidity headed & is it time to buy again...

Macro Mondays #61 - Advisors turning pessimistic & The Ukraine

12 Aug 2024

Contributed by Lukas

This week we take a look at the macro regime model, is it time to buy again, where is liquidity headed & what is going on in the Ukraine?Join us!C...

Macro Mondays #60 - BoJ Aftermath & The Gold Trade.

05 Aug 2024

Contributed by Lukas

This week we take a look at the Fed meeting and how it went, the middle east turmoil, the BoJ aftermath and much more!Check out the episode on youtube...

Macro Mondays #59 - Stop worrying about employment and look forward!

29 Jul 2024

Contributed by Lukas

We take a closer look at last weeks correction and the outlook for risk assets. Furthermore, we dive into this week's BoJ and Fed Meetings and pr...

Macro Mondays #58 - What will Kamalanomics look like?

22 Jul 2024

Contributed by Lukas

Join the team talking Kamala on economics, the great rotation, the CCP plenum & much more. Remember to check out the links below.Token2049 week in...

Macro Mondays #57 - It’s a GUNG HO SUMMER!

15 Jul 2024

Contributed by Lukas

This week we take a look at a possible Gung-Ho summer, the Cape of Good Hope traffic jam, the german bitcoin sell-off & much more!Join us!Token204...

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

08 Jul 2024

Contributed by Lukas

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 ...

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

01 Jul 2024

Contributed by Lukas

This week on Macro Mondays the team touch upon China & Japan, Hawkish surprises out of “monetary canaries” & the Biden-Trump debate. Join ...

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

24 Jun 2024

Contributed by Lukas

 Andreas Steno Larsen, founder and CEO of Steno Research, is back for another episode of Macro Mondays with his co-host Mikkel Rosenvold, Steno Resea...

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

17 Jun 2024

Contributed by Lukas

🔥 𝗝𝗢𝗜𝗡 Real Vision for FREE https://rvtv.io/3MMeRfQ. Andreas Steno Larsen, founder and CEO of Steno Research, is back for another episo...

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

10 Jun 2024

Contributed by Lukas

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 devel...

Macro Monday #51 - Germany rebounding!

02 Jun 2024

Contributed by Lukas

The team takes a look at Germany rebounding implications,Freight rates and the ramifications for Copper, Silver & Natural Gas.Also Crypto News &am...

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

26 May 2024

Contributed by Lukas

This week on Macro Sunday ( next week - Macro Monday ) the team touches upon the Ethereum & Bitcoin ETF, freight rates, copper tourism & much ...

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

19 May 2024

Contributed by Lukas

Join the team this week for a discussion on the PCI report, Chinas weather, the business cycle watch & much more. Guest: Marvin Barth - Thematic ...

Macro Sunday #48 - Freddie Mac Proposal, Truth Media Stock & Boeing Scandal

12 May 2024

Contributed by Lukas

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 th...

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

05 May 2024

Contributed by Lukas

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 3...

Macro Sunday #47 - POSTPONED TO NEXT WEEK

28 Apr 2024

Contributed by Lukas

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 h...

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

21 Apr 2024

Contributed by Lukas

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 ...

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

14 Apr 2024

Contributed by Lukas

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?...

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

07 Apr 2024

Contributed by Lukas

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 thr...

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

31 Mar 2024

Contributed by Lukas

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!...

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

24 Mar 2024

Contributed by Lukas

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...

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

17 Mar 2024

Contributed by Lukas

Oil, Copper and Silver have broken out of recent ranges and the overall commodity picture is starting to look technically compelling. Meanwhile, the i...

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

10 Mar 2024

Contributed by Lukas

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 p...

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

03 Mar 2024

Contributed by Lukas

The cyclical rotation of asset markets is ongoing and the Manufacturing sector seems to be improving by the month. The consensus is getting very upb...

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

25 Feb 2024

Contributed by Lukas

Assets are melting up right, left and center as the optimism around thebusiness cycle is improving. Is it fair to assume that countries outside of th...

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

18 Feb 2024

Contributed by Lukas

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? ...

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

11 Feb 2024

Contributed by Lukas

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 cy...

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

04 Feb 2024

Contributed by Lukas

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 be...