WOOD Flash – EME Macro/Strategy: refining our growth scenarios
In the past week, two important developments have materialised. First, the Fed delivered a 50bps rate cut ahead of its March meeting. Secondly, the coronavirus epidemic spread further to core Eurozone and the US. Thus, it makes sense to fine tune the growth scenarios we discussed in our recent report, published on 2 March. The Eurozone is heading for a triple whammy: tourism will suffer because of the virus prevention measures; the recovery in the industrial sector will evaporate, due to slower global growth; and fractures in its financial market will show, as Italy is spiralling into a severe recession and a further loss of potential GDP growth. In our view, we are still far away from having seen a sufficient policy-making response in the Eurozone and the US to motivate a sustainable rebound of equity prices.
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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