EME Macro/Strategy: We have a framework
We have adjusted our GDP scenarios for the remaining countries under our coverage, consistent with the approach we flagged in our WOOD Daily last week. We are assuming a shock for exports and investments comparable to what was seen in 2009, and a drop of household spending by 15-20% qoq in 2Q, due to the restrictions on everyday activities because of the epidemic, as well as the drop in tourism. The results show that a c.-5% drop in GDP this year is a plausible scenario for most countries, followed by a V-shaped recovery in 2021E.
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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