EME Macro/Strategy: macro all-in-one (25 September-1 October)
The highlights of the past week in the economic landscape include a mix of encouraging and concerning indicators. European sentiment surveys revealed signs of a stabilisation in the manufacturing sector across the CE4 countries and Germany, alongside resilient hiring trends. However, consumer confidence declined for the third consecutive month, accompanied by rising inflation expectations. Hungary's Central Bank simplified its policy toolkit, projecting a gradual decline in the policy rate. The CNB is preparing the ground for the first cut. On other datapoints, Greece experienced an increase in total credit growth, Polish unemployment remained stable at low levels, and Hungarian PPI remains consistent with the disinflationary trend. We also flag the massive opposition rally in Poland and the upcoming NBP MPC meeting.
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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