EME Macro/Strategy: macro all-in-one – 17-23 April
The news from last week is a bit of a mixed bag. From one side, the early business survey signals for April showed a deterioration for manufacturing, but further increases in consumer confidence. Overall, we are still seeing the last episodes of monetary tightening in developed countries, because the inflation outlook has improved (but it is not on target), and it would be unwise to tighten lending conditions too much, when the risk of tail events in the banking sector remains non-negligible. The risks to the downside for 2024E have increased, in our view, but not yet at the point of triggering a forecast change from us. Within EEMEA, we highlight the increasing TRY risks in Turkey and the early indications of the easing cycle starting in Hungary, in particular.
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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