Denmark
Biography
Steen Jakobsen has more than 25 years of experience within the fields of proprietary trading and alternative investment. After finishing his studies in Economics at Copenhagen University in 1989, 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. From 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 Group. He joined Saxo Bank in 2000 and after a brief departure to Limus Capital Partners, where he was Chief Investment Officer for two years, he returned to the bank in 2011 as Chief Investment Officer
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Write a Squawk to Steen Jakobsen
  • 27m
    FxCox FxCox
    BoE Deputy Governor Minouche Shafik said she expected the central bank would need to pump more stimulus into Britain's economy "at some point" as it adjusts to...
    27m
    FxCox FxCox
    British consumer morale recovered slightly in September, but fears over job security when Brexit talks begin next year could yet dampen confidence, a survey published on Wednesday...
  • Article / 6 hours ago

    Quarterly Outlook: Don the helmets

    Chief Economist & CIO / Saxo Bank
    Denmark
    Quarterly Outlook: Don the helmets
    The breakdown of the social contract could send Trump to victory and exacerbate volatility throughout markets. Yet, from extreme disruption comes change and the need for a clear out of the current false premises underpinning the system is massive.
    Read the article
    3h
    TH_N TH_N
    Can you give more comments on the traditional safe heavens (gold and bond) if Trump wins the election? Many people think that "a Trump victory would be...
    24m
    FxCox FxCox
    Clinton will win. Trump is only a confortable pawn for turn Us elections
  • Video / 14 September 2016 at 12:03 GMT

    Is the VIX move good or bad?: Jakobsen

    Steen Jakobsen
    The VIX move last week was one of the biggest ever in percentage terms. Saxo Bank chief economist Steen Jakobsen outlines what he thinks is happening to the market.

    He believes that the market and policymakers are on a 'two-way street'. The yield curve is steepening, as rates looks to rise marginally. The banking sector supports a rise in rates because the longer quantitative easing remains, the more pressure there is on the banking sector.

    Jakobsen expects 10-year bonds to rise further.
    watch video
  • 12 September
    fxtime fxtime
    Great article Steen.
    I wonder if the fed are simply scared of moving before an election as they aren't allowed/mandated to influence the electorate immediately before a presidential...
    12 September
    Market Predator Market Predator
    Perfect!
  • Squawk / 11 September 2016 at 15:50 GMT
    Chief Economist & CIO / Saxo Bank
    Denmark
    Sunday Macro

    What you need to know:

    5.) FX swaps is bid for US$ as foreign banks in US is losing funding through lack of CP (Commercial Paper funding)
    Read the Squawk
    12 September
    asousa27 asousa27
    Thanks Steen
    12 September
    Market Predator Market Predator
    Very nice GlobalMorningCall from Yours, nice conclusion!
    12 September
    Pandorra Pandorra
    good call Steen, I understood. please update timely to be in course what's going on.
  • Squawk / 11 September 2016 at 15:44 GMT
    Chief Economist & CIO / Saxo Bank
    Denmark
    Sunday Macro

    What you need to know:

    4. There is MASSIVE regulation change to Money Market Fund per 14/17 October 2016:

    https://personal.vanguard.com/pdf/VGMMR.pdf

    Prime Fund = Commercial Paper + Gov. FI
    Government = US government only..

    Net OUTFLOW = 500 bln. US$ = Minus 500 Commerical Paper funding.....

    Results:
    1. LIBOR BID
    2. TED spread big
    Read the Squawk
  • Squawk / 11 September 2016 at 15:35 GMT
    Chief Economist & CIO / Saxo Bank
    Denmark
    Sunday Macro

    What you need to know:

    3. ) Yield curve moved up - which is anti-QE and what central banks now want - in order to stop bleeding banks dry of earnings...

    Market is saturated with QE, flattening
    Read the Squawk
  • Squawk / 11 September 2016 at 15:32 GMT
    Chief Economist & CIO / Saxo Bank
    Denmark
    Sunday Macro

    What you need to know:

    2. ) Friday both 10 Year Japan & Germany bonds moved to POSITIVE and saw steepning of curve (IE: Anti- QE!)
    Read the Squawk
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