WOOD Flash – CE4 macro: model projections cheat sheet
Macro projections summary sheetWe present our fair value charts for the CE4 exchange rate (vs. the EUR) and stock market models in this flash. Our models flag a depreciation bias in Hungary and Romania, while the Czech Koruna is overvalued currently relative to our model for the near term, but further appreciation potential remains for the coming years. The Polish Zloty maintains a fundamental sideways pattern, but we highlight that, in the coming months, there are several court rulings that will define whether the relationship with the EU will genuinely ameliorate or significantly worsen, to the point of affecting the trajectory of the currency, going forward.
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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