EME Macro/Strategy: macro all-in-one (3-9 April)
A frail truce has materialised this week in the US-Iran conflict, which increases the likelihood of our “quick” resolution scenario, although elements of a risk of a capitulation into further conflict remain meaningful. The March inflation readings for Hungary and the Czech Republic came in more benign than feared, thanks to the still falling food inflation. In Poland, the NBP has guided the market towards rates stability, giving more weight to the soft labour market and the risks of a moderation of consumption, while the NBR conveyed a similar message. In Hungary, the preliminary election results should be available from 20:00 CET time on Sunday, with the polls strengthening in favour of the opposition, Tisza. The latest CIS plus data show strong growth in Georgia, steady momentum in Uzbekistan, and softer activity, but easing inflation in Kazakhstan.
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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