WOOD Flash – EME Macro/Strategy: US – Fed begins to taper, with hawkish signals for 2022E
At its meeting yesterday (3 November), the FOMC at the Fed decided to keep the target range for the federal funds rate unchanged and announced the start of tapering, as we expected. Overall, the tone at the meeting appeared, to us, to be on the hawkish side, as there were tacit signals that the economy may well be on its way to fulfil the conditions for a lift-off next year. Therefore, we believe that the odds for an early lift-off in the second half of next year have become stronger, vs. our baseline expectations of a later lift-off, in 2023E.
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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