EME Macro/Strategy: macro all-in-one (6-12 October)
The protracted US Federal Government shutdown introduces downside risks to the labour market in the coming quarters, in the event that the President successfully implements extensive job cuts at the federal level. We expect disruptions related to the shutdown to extend over time but, by themselves, these cannot alter the resilience of the economy fundamentally, at this juncture. In Poland, the MPC delivered another 25bp rate cut, leading us to revise our forecast for rates downwards. In the Czech Republic, the leader of ANO is moving forward with the formation of the new government. In Kazakhstan, the central bank tightened monetary policy more forcefully than what we had anticipated.
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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