Macro Strategy and Economic Forecasts by Andreas Steno Larsen

Andreas Steno Larsen is the founder of Steno Research, an independent firm producing paid macroeconomic and crypto market research. He previously served as Chief Global Strategist at Nordea, Scandinavia’s largest bank, before launching his own venture in 2022. He also hosts podcasts and contributes to Real Vision, where he covers Bitcoin, Forex, and macro cycles.

In 2025, he published The Macro Playbook: Central Banks, Crypto & Chaos, analyzing Bitcoin’s role during inflation and fiat debasement scenarios. His reports integrate crypto asset allocation into broader portfolios, making him a key advisor to hedge funds and family offices.

Steno Research generates seven-figure recurring revenue from subscriptions, with clients spanning institutional investors and high-net-worth individuals. Larsen’s achievements include raising his firm from startup to a leading independent research house, publishing analysis read by over 50,000 monthly subscribers, and cementing himself as one of Europe’s most followed macro-crypto commentators.

  • Andreas Kristo
  • 08.06.2026
AI stocks lead S&P 500 gains while broader market stays flat, Andreas Steno Larsen notes
Andreas Steno Larsen, founder & CEO, notes that since the war began on February 27, the S&P 500 Index has risen 7.34%, primarily due to gains from AI stocks. Excluding these AI stocks, the index ...
  • Dmytro Kharkov
  • 07.06.2026
Andreas Steno Larsen: President Trump view on interest rates and economic conditions challenged
Andreas Steno Larsen, founder & CEO, questions President Donald Trump's perspective on interest rates, suggesting it is incorrect to declare higher rates are always bad and lower rates always ...
  • Oleg Tkachenko
  • 01.06.2026
Wall Street repeatedly handles crises as liquidity glitches, Andreas Steno Larsen argues
Andreas Steno Larsen, founder & CEO, writes that every major financial crisis—1997, 2008, and 2020—follows a familiar institutional pattern: initial mischaracterization of structural problems ...
  • Andrey Mastykin
  • 30.05.2026
Andreas Steno Larsen: AI-related stocks reach new high as share of S&P 500
Andreas Steno Larsen, founder & CEO, reported that AI-related stocks have reached their highest level ever as a percentage of the S&P 500. He emphasized that the influence of artificial ...
  • Andreas Kristo
  • 25.05.2026
Crude net long positions mostly set before war, Andreas Steno Larsen notes
Andreas Steno Larsen, founder & CEO, highlights that the Wall Street consensus expects the Strait to reopen within days, which could sharply reduce crude prices. He also points to a chart ...
  • Parshwa Turakhiya
  • 20.05.2026
Andreas Steno Larsen: Market participants believe oil flow will resume and conflict end soon
Andreas Steno Larsen, founder & CEO, highlights that many financial market participants anticipate the reopening of the Strait, resumption of oil shipments, and a quick resolution to the current ...
  • Mikhail Vnuchkov
  • 18.05.2026
10-year yield and Brent futures reach new highs, Andreas Steno Larsen notes
Andreas Steno Larsen, founder & CEO, highlights that U.S. President Donald Trump believes time is on his side as markets show notable movements. The 10-year yield is at its highest level during ...
  • Parshwa Turakhiya
  • 15.05.2026
Andreas Steno Larsen: 10-year Treasury yield closes near high under U.S. President Donald Trump
Andreas Steno Larsen, founder & CEO, highlights that the U.S. 10-year Treasury yield ended at 4.60%, just 2 basis points below its peak when President Donald Trump took office on January 20, 2025. ...
  • Yulia Slavina
  • 13.05.2026
U.S. 30-year yield reaches 5.03 percent, Andreas Steno Larsen notes
Andreas Steno Larsen, founder & CEO, reports that the U.S. 30-year yield has risen to 5.03 percent. He notes this level has only been surpassed for a few days over the last 19 years and is now ...
  • Dmytro Kharkov
  • 11.05.2026
Andreas Steno Larsen: U.S. 10-year yield compared to June WTI Crude Oil Futures
Andreas Steno Larsen, founder & CEO at https://x.com/AndreasSteno, examines a 3-day tick chart featuring the U.S. 10-year yield and June WTI Crude Oil Futures. Steno Larsen points to the ...
  • Anastasiia Chabaniuk
  • 04.05.2026
Oil drives bond market swings, Andreas Steno Larsen argues
Andreas Steno Larsen, founder & CEO at https://x.com/AndreasSteno, argues that oil prices are the primary driver of bond market volatility rather than bond activity influencing oil. He notes ...
  • Yaroslav Dmytrenko
  • 30.04.2026
Andreas Steno Larsen: U.S. 30-year yield hits 5 percent for first time since July 2025
Andreas Steno Larsen, founder & CEO at https://x.com/AndreasSteno, reports that the U.S. 30-year yield has reached 5 percent for the first time since July 2025. It is now just 11 basis points ...
  • Artem Shendetskii
  • 27.04.2026
War is now bad for defense stocks, Andreas Steno Larsen writes
Andreas Steno Larsen, Founder & CEO at https://x.com/AndreasSteno, questions the traditional relationship between war and defense stocks. In his analysis, he suggests that ongoing changes in the ...
  • Artem Shendetskii
  • 21.04.2026
Andreas Steno Larsen: Fed moves from too late Powell to sock puppet Warsh
Andreas Steno Larsen draws a contrast between recent and past leaders at the Federal Reserve. He characterizes a transition from Jerome Powell’s ‘Too Late’ approach to a possible ‘Sock ...
  • Yaroslav Dmytrenko
  • 16.04.2026
Long Blockchain surged 183 percent after its rebrand in December 2017, Andreas Steno Larsen notes
Andreas Steno Larsen recalls the events of December 21, 2017, when Long Island Iced Tea rebranded as Long Blockchain and its stock price surged by 183 percent on the same day. Larsen points out ...
  • Eugene Komchuk
  • 13.04.2026
Andreas Steno Larsen: Private credit targets firms with strong moats and stable cash flow
Andreas Steno Larsen observes that private credit investors have consistently sought out companies possessing significant protective moats and stable cash flows. According to Larsen, for years, ...
  • Olga Shendetskaya
  • 11.04.2026
Extreme market swings lead to losses, Andreas Steno Larsen notes
Andreas Steno Larsen highlights the impact of extreme volatility in energy markets, pointing out that such fluctuations have largely resulted in losses. He emphasizes that making money is almost ...
  • Andreas Kristo
  • 10.04.2026
Andreas Steno Larsen: Top 10 SaaS index components and weightings highlighted
Andreas Steno Larsen shared the latest rankings for the top 10 companies in the SaaS index by weighting. According to the list, Palo Alto Networks leads with a 4.69 percent weighting, closely ...
  • Parshwa Turakhiya
  • 03.04.2026
Financial analysts approach modern warfare differently, Andreas Steno Larsen notes
Andreas Steno Larsen, a financial analyst focused on macroeconomic risk, highlights how his perspective differs from traditional military analysts. He suggests that looking at warfare through an ...
  • Elena Nikulina
  • 25.03.2026
Andreas Steno Larsen: Correlations between 10-year yield and oil rise in crisis
Andreas Steno Larsen shares a tick chart illustrating the relationship between the 10-year yield and nearby WTI crude oil futures, noting both assets' movements from Friday afternoon. In the ...
  • Oleg Tkachenko
  • 22.03.2026
Yields and inflation expectations are rising, Andreas Steno Larsen argues
Andreas Steno Larsen states that the market is undergoing a shift from concerns over a recession to fears of an inflation shock. He points to rising 10-year bond yields, surging bond volatility, ...