EME Macro/Strategy: macro all-in-one (23-29 June)
Last week’s NATO summit, in the Netherlands, concluded with a formal commitment to raise defence spending to 5% of GDP by 2035E, with a progress review set for 2029E. In the Czech Republic and Hungary, the central banks kept rates on hold but struck a hawkish tone, pointing to upside risks to inflation. In Romania, the new coalition government, led by PNL’s Ilie Bolojan as Prime Minister, was sworn in and rolled out its first draft fiscal plan, which includes tax hikes and tighter spending. Meanwhile in Poland, the government is considering a levy on banks’ mandatory reserves held at the NBP, to fund the budget. June’s ESI data was soft overall, except in Poland. Finally, in Georgia, opposition leader Mamuka Khazaradze of the Lelo party has been sentenced to eight months in prison.
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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