EME Macro/Strategy: macro all-in-one (21-27 April)
The good news first: the detailed batch of business surveys available for Poland, Hungary and the Czech Republic for April, which captures the US tariff announcements, provide evidence of resilience (but not full immunity, of course) in the industrial sector. In Poland, nominal wage growth cooled, and real retail sales fell, boosting the case of a May rate cut further. In Türkiye, the top leadership at the CBT reiterated the hawkish stance, following the surprise rate hike earlier in the month. Lastly, the Monetary Council in Uzbekistan kept the policy rate on hold and stuck to its hawkish message. In Romania, there has been an outbreak of African swine fever (the third epidemic alert emerging in Central Europe this year so far), which underscores the upside risks for food inflation in the near term.
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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