EME Macro/Strategy: 2022E – inflation, distrust and digitalisation
We expect 2022E to be a year of economic expansion and tightening monetary policies. This equilibrium, in our view, will not last, as we do not believe that the central banks are in a position to fine tune inflation and activity anymore – the business cycle is too advanced and inflation risks are abundant. Eventually, central banks will have to deliver enough tightening to halt the labour market recovery and, thus, tip economies into recession: this process may take 15-18 months, but it is the only realistic scenario, in our view. We expect to see high volatility in equities and currencies, together with rising sovereign bond yields.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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