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
  • Article / Yesterday at 13:49 GMT

    Steen's Chronicle: The old and the new economic order

    Chief Economist & CIO / Saxo Bank
    Denmark
    Steen's Chronicle: The old and the new economic order
    The current fiat economy whereby manufactured money is pumped into a world blighted by higher costs and lower output is totally unsustainable. Saxo Bank's Steen Jakobsen has devised a new economic model and says the way forward is to adjust to slower growth and get back to the basics of producing goods and services that add value.
    Read the article
  • Saxo TV / Friday at 9:47 GMT

    Jakobsen: Why Black Monday means traders should throw out the playbook

    Steen Jakobsen
    Back In April, Saxo Bank’s Chief Economist Steen Jakobsen made what was widely reported to be a controversial call: sell up, he said, and take a holiday from the markets and warned that there was a USD debt margin call on the way. Now he's saying it’s time to get back to work and in what be seen as another controversial call he's looking at buying EM and commodity assets.
    watch video
    4d
    Pym Pym
    Hi Steen, what would be your next entry short on dax and sp500? Cheers
    3d
    longterm_inv longterm_inv
    In the last years contrarians have been wiped out. I think it's still too early to jump on this train.
    3d
    HEW HEW
    Back in May 2013 I called the May 2015 high. We have just seen the first 5-wave rally in the DOW from inception. This correction is going...
  • Article / 25 August 2015 at 12:00 GMT

    CEE Explained: Growing up, at last

    Chief Economist & CIO / Saxo Bank
    Denmark
    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.
    Read the article
    26 August
    ClarityDaji ClarityDaji
    This comment has been redacted
  • Article / 25 August 2015 at 9:00 GMT

    Macro Digest: Final verdict – Ouch!

    Chief Economist & CIO / Saxo Bank
    Denmark
    Monday's market was the most energetic selloff since 2008/2009 but the pain isn't over yet. One more retest of the low is likely into Jackson Hole and then the Fed September meeting. And on that point, hopes of a hike have wilted to an astonishing 20%. A week ago 50% though a September move was likely....
    Read the article
  • Squawk / 25 August 2015 at 8:49 GMT
    Chief Economist & CIO / Saxo Bank
    Denmark
    Morning macro:

    1.) Our SHCOMP target of 3.000 reached this morning.
    2.) Congratulations! Market value lost now exceeds 10.000 bln. US$
    3.) Cost of capital stubbornly expensive - Government slightly off in yield, but credit remains elevated.
    4.) Credit (HYG) continues to lead S&P which is now NEGATIVE in YoY return
    5. Banks as in JPM Chase CDS above recent highs
    Read the Squawk
  • Squawk / 24 August 2015 at 13:47 GMT
    Chief Economist & CIO / Saxo Bank
    Denmark
    MACRO:
    While panic is sneaking into market... note this:
    We have reached ALL of our targets today: 1825 S&P & 9300 DAX

    We are now NEUTRAL......
    Read the Squawk
    24 August
    fxtime fxtime
    Great call....I din' trade it and I suspect the bulk of traders would have covered far too early and it would be impossible to get back onboard....
    24 August
    Pym Pym
    Thanks for sharing Steen. Seems achievanle
    24 August
    Pym Pym
    Maybe early to be neutral?
  • Article / 21 August 2015 at 12:30 GMT

    Macro Digest: It's all in the charts

    Chief Economist & CIO / Saxo Bank
    Denmark
    Macro Digest:  It's all in the charts
    This rout has seen $7,000 billion wiped off market cap globally and in the 11 days following the Chinese yuan devaluation the DAX 30 fell a whopping 12% while WTI crude shed almost 10%. Small wonder that volatility is rising across the board.
    Read the article
    21 August
    dominom dominom
    very helpful. thank you.
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