EME Macro/Strategy: macro all-in-one (15-21 May)
The Greek elections were held yesterday (21 May) and delivered a strong victory to New Democracy, with 40.8% of the votes. In other news, the 1Q23 GDP results have been released for the CE4, with Poland turning out to be more resilient than we had expected, whereas Hungary is bearing the brunt of high rates and the government’s inability to resolve its differences with the EC at a reasonable pace. Meanwhile, the Czech government has presented a strict budget consolidation plan which, if comes into force in a similar shape and form, should allay the fears of the hawkish MPC members. Outside CEE, we highlight that the Central Bank of Egypt kept rates on hold last week, while the first China-Central Asia summit concluded with a pledge to convene every two years, with the next meeting scheduled to be held Kazakhstan in 2025E.
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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