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
Follow me on

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor.com permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Tradingfloor.com and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Tradingfloor.com is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Tradingfloor.com or as a result of the use of the Tradingfloor.com. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

2155 Followers
Who is #SaxoStrats:

#SaxoStrats is our team of in-house strategists, covering insights and expert views across markets, asset classes and tradable instruments.

MEET THE TEAM
Write a Squawk to Steen Jakobsen
  • Squawk / Tuesday at 14:09 GMT
    Commercial Analytics Manager
    United Kingdom
    Now the questions:
    How do you see the Mexican Peso evolving in the next 6 to 12 months? How the election is going to play? Is it the populist theme all over again? And would there be a Nafta renegotiation before the MXN elections?
    If there is a new Nafta, there will be a significant impact on the supply chain of most US corporations. What will be the impact on the stock market and price inflation?
    I don’t like the chart configuration in gold, are you still bullish gold due to possible recession?
    Gold is a Tier 1. It's a level one asset for banks. So, they can actually pay you in a negative interest rate environment to hold that, because they can turn around and monetize that. So, If you start to normalize interest rates, that would be the catalyst for banks to dump more of the physical into the market? What’s your opinion
    Read the Squawk
  • Squawk / Tuesday at 14:08 GMT
    Commercial Analytics Manager
    United Kingdom
    Good Call on the Dollar. Your view in January pushed me to do more work, and close my long position. https://www.bloomberg.com/news/videos/2017-01-25/saxo-s-jakobsen-trump-increases-chance-of-u-s-recession
    I attended your last 2 presentations in London:
    • Great call on Trump wining.
    • Good call on the dollar weakness. We see it unfolding day by day, I’m sure there is a 5th wave coming and a possible correction but you nailed it.
    • Interesting call on the MXN, I was already positioned but your view helped me held to the position as I made an early entry in December.
    • Good call on the EUR and the Eurozone so far.
    • Merkel new G7 leader, I was of the same opinion but did not expected it to happen quickly.
    • Ah, and you right he is building the wall and a big one, contracts will be awarded mid-April.
    Read the Squawk
  • Squawk / 19 March 2017 at 10:18 GMT
    Chief Economist & CIO / Saxo Bank
    Denmark
    GBPUSD - long-term bullish.

    Here is Allianz presentation making the case:

    Short-term capital flow supportive of GBP

    GBP underowned and underpriced
    Read the Squawk
    19 March
    AlexF AlexF
    Dear Steen thanks for the reco. UBS issued a short term buy on GBPAUD, which pair would you prefer ?
    4d
    trendy trendy
    Dear Steen, please tell me from where the emerging markets currencies are taking their movement impulses. As far as I observed, those are moving somehow contradictory, irrespective...
    4d
    Madjid Madjid
    Trendy,
    A recovering China is welcome news for EM markets. The US matters, but China now matters more.
    The recovery in the Chinese economy and monetary system matter...
  • 17 March
    Stephen Pope Stephen Pope
    G20 Finance Ministers will put US under pressure. What is the truth behind Trump's trade stance?

    Glorious isolation will not the US and global economy well.

    EU fin...
  • 17 March
    trendy trendy
    Sorry for asking, what do you mean by "priced to imperfection", far away from real value? All three currencies are lower than their real value?
    19 March
    Ruso25 Ruso25
    Sorry mate, but where you signaled the trend reversal on MACD is not trend reversal, it is only stop falling and make an unpward movement in an...
  • 01 March
    helicongrowth helicongrowth
    April FFs showing 17/25 = 68%.....looks like a done deal.
    01 March
    Mekong Mekong
    Your Bund trade now looks inspired...
    01 March
    Mekong Mekong
    Patrice trade...
  • 27 February
    trendy trendy
    Any link for 2016 outrageous predictions?
    28 February
    CamRob CamRob
    https://www.tradingfloor.com/publications/outrageous-predictions - If you scroll down, you can see the previous years' Outrageous Predictions.
    02 March
    Pandorra Pandorra
    And finally it has happened! Bitcoin delivered higher then gold troy oz!
    This day should become history 100%
  • Squawk / 24 February 2017 at 8:27 GMT
    Chief Economist & CIO / Saxo Bank
    Denmark
    Risky business?

    Peter Garnry has voiced concerns about valuation and our proprietary models continues to flash warning signal.

    This is Z-score risk - S&P vs. Saxo RISK model - we see major divergence presently - the correlation is normally v. high...

    This is clear warning signal
    Read the Squawk
    24 February
    Blange Blange
    Good day Steen, are you saying that is going to be soon a rollercoaster and suggesting us to cash in all our assets?
    24 February
    helicongrowth helicongrowth
    Schatz and German yields are flashing EU election worries, then we have Trump policy delays with v high equity valuations. It is time for a correction which...
  • Squawk / 23 February 2017 at 13:03 GMT
    Chief Economist & CIO / Saxo Bank
    Denmark
    Chance of May hike hitting > 60% - Remember Fed never hiked without chance being >70% !

    There is now some divergence, at least if dynamics driven by inflation expectations - this chart shows 5y5y (proxy for inflation) vs. chance of hike in May... nice correlation until recently - is it the "usual Fed talk" which they can't deliver or is it for real this time?
    Read the Squawk
Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail