Steno Signals #181: Welcome to the golden age for risk taking (and scams)

Steno Signals #180 - Some men just want to see the world burn (but not Trump)

Steno Signals #179: A handful of trades for 2025

Steno Signals #178 - Brace yourselves, liquidity is coming!

Steno Signals #177 - The next liquidity trick arrives in January! Stealth-QE time?

Steno Signals #176 - 3 ideas if 2025 turns out as 2021

Steno Signals #175 - 4 asymmetrical cases for Santa Powell

Steno Signals #128 - I thought Trump and Tariffs were supposed to lead to bond riot?

China Watch: Forget About the BRICS Currency - China Wants to Impact the USD from Within

Steno Signals #127 - We need a bit of bad news for liquidity to improve

Steno Signals #126 - Where did all the liquidity go?

Steno Signals #125: EUR Liquidity Overtakes USD Liquidity – A Historic Shift

Unlock Alpha: Join the Asgard-Steno Global Macro Fund

Steno Signals #124 - Something is WRONG in bond markets

China Watch: This is NOT stimulus. It’s a debt swap! Fake news..

Last call: Asgard-Steno Global Macro

Steno Signals #123 - The market is sniffing out a big liquidity increase

Bond Yield Watch: Yellen has decided to inflate the debt away. Position accordingly..

How to invest in Asgard-Steno Global Macro?

Steno Signals #122 - Markets have abandoned the cutting narrative (outside of EZ)

BREAKING: Asgard-Steno Global Macro

Steno Signals #121: Whatever It Takes—In the US, but NOT in China: While the Chinese fiscal briefing was a huge nothing burger, we are starting to see pockets of the USD-denominated asset space behaving as if a USD "whatever-it-takes" moment is just around the corner

Steno Signals #120 - Liquidity and rate cuts are incoming in an already OK economy: A better-than-feared jobs report, although somewhat “clouded” by a large public sector contribution. Overall, it seems like we are getting stimulus for an already stable economy. Good news!

Liquidity Watch: Houston, we have a liquidity/SOFR problem! : We've seen a significant spike in SOFR-EFFR spreads over the past 48 hours, which feels reminiscent of September 2019, though on a smaller scale. The Fed may be facing a liquidity problem.

Steno Signals #119 - A tsunami of liquidity is upcoming in Q4: China just pulled a market stunt right before a flood of liquidity hits, and the Fed is cooking up some magic liquidity tricks to keep things lively. Buckle up for Q4.