11 may 2016, 17:06
What Erdogan means for USDTRY....
There is considerable risk that the EU-Turkey refugee deal will collapse in the coming weeks.
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Steen Jakobsen
CIO, Saxo Bank A/S
Steen Jakobsen was appointed to the position of Saxo Bank’s Chief Economist in March 2011. Mr. Jakobsen returned to the Bank after two years’ absence. During that time he has been Chief Investment Officer for Limus Capital Partners. Prior to his departure in early 2009, Mr. Jakobsen was with Saxo Bank for almost nine years as Chief Investment Officer. Mr. Jakobsen has more than 20+ years of experience within the fields of proprietary trading and alternative investment. In 1989, after finishing his studies in Economics at Copenhagen University, he started his career at Citibank N.A. Copenhagen from where he moved to Hafnia Merchant Bank as Director, Head of Sales and Options. In 1992, he joined Chase Manhattan in London as VP, Head of Scandinavian Sales, and then the Chase Manhattan Proprietary Trading Group. 1995-1997 he worked as a Proprietary Trader and Head of Flow Desk at Swiss Bank Corp., London. In 1997, he became Global Head of Trading, FX and Options at Christiania (now Nordea) in New York until he joined UBS in New York in 1999 as the Executive Director in the Global Proprietary Trading Group.
17 march 2016, 17:45
Steen's Chronicle: The social contract is broken....
Political and economic landscapes in upheaval, voters demanding anything but the status quo. 'emergency' measures have led to stagnation, Wall Street nees to shrink, Main Street to grow, Infrastructure, capex investments key...
23 february 2016, 14:27
What Brexit really means
Cameron's EU deal is far short of what he promised... This represents formal acceptance of a two-tier Europe... Populists elsewhere already calling for their own referendums... By October, Cameron and Merkel could be history and Le Pen's star shining...
16 november 2015, 16:55
Macro Digest: First, it will get worse...
Strike at the heart of western civilisation represents new phase in IS strategy; Financial markets not prepared for the geopolitical risk to come; Clash of ideologies means it is likely to get worse, before it gets better; Ignorance of major political events can not be allowed to continue.
03 october 2015, 17:16
Steen's Chronicle: Meet Mr and Mrs Consensus
I'm just back from the US and from attending a major macro conference. Dare I say I met Mr and Mrs Consensus! A quiet unattractive couple
04 september 2015, 15:40
Iran and impact of lifting sanctions
“A drowning man is not troubled by rain” – Iranian proverb. The proverb summons up why Iran and the US was and is almost desperate to strike a deal to lift Iranian sanctions.
27 august 2015, 13:43
CEE Explained: Growing up, at last
The collapse of the Berlin Wall continues to be the defining factor in the mass of territory spanning Slovenia to the Urals, but 26 years on, it's time for the region to leave behind adolescence and take its place on the global stage
20 may 2015, 11:46
Why China is more important than the Fed
As the US economy stutters towards reversal many minds are focused on the implications for the rest of us. But consider this: more often than not major economic shifts originate in Asia and that's why we should should be taking more notice of what's going on in China right now.
20 april 2015, 11:21
The New Nothingness
First of all, everybody needs to respect why God gave us two ears and one mouth: it means you listen twice as much as you talk. We are designed to listen more than we talk!
Secondly, everyone needs to be more ambitious. For yourself, your country, your company… talk about what you can do and not what you can’t do.
21 january 2015, 18:18
We've entered a new dawn of higher volatility
The banking system overall is meeting stricter and stricter criteria on capital set aside for events like this one – actually a fairly rational move considering that VaR does not fully cover “worst case scenarios”. We already saw the US rolling out stricter capital demand requirements on US banks in 2014: Big US banks must boost capital by $68 billion under new rules.
