{"id":20837,"date":"2026-03-11T10:33:19","date_gmt":"2026-03-11T10:33:19","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/20837\/"},"modified":"2026-03-11T10:33:19","modified_gmt":"2026-03-11T10:33:19","slug":"leyenova-varuje-pred-navratem-eu-k-ruskemu-plynu","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/20837\/","title":{"rendered":"Leyenov\u00e1 varuje p\u0159ed n\u00e1vratem EU k rusk\u00e9mu plynu"},"content":{"rendered":"

Studie Mezin\u00e1rodn\u00edho m\u011bnov\u00e9ho fondu (IMF) ukazuj\u00ed, \u017ee r\u016fst ceny ropy o desetinu zv\u00fd\u0161\u00ed inflaci asi o 0,4 procentn\u00edho bodu a \u017ee tento efekt postupn\u011b sl\u00e1bne. Dopad vojensk\u00e9ho konfliktu kolem Persk\u00e9ho z\u00e1livu na r\u016fst cen dnes nikdo odhadnout nedok\u00e1\u017ee. Kl\u00ed\u010dov\u00e9 toti\u017e je, jak dlouho potrv\u00e1. A rekordn\u00ed inflaci po covidu nezp\u016fsobil jen samotn\u00fd \u0161ok, ale hlavn\u011b masivn\u00ed tisk pen\u011bz a fisk\u00e1ln\u00ed stimulace, p\u0159ipom\u00edn\u00e1 v\u00a0rozhovoru pro Newstream ekonom a zakladatel spole\u010dnosti Algorithmic Investment Management Pavel Kohout.<\/p>\n

Jak\u00fd dopad na inflaci to bude m\u00edt konflikt v Persk\u00e9m z\u00e1livu?<\/p>\n

Z\u00e1sadn\u00edm probl\u00e9mem, kter\u00fd znemo\u017e\u0148uje jak\u00fdkoliv odhad, je, \u017ee se nev\u00ed, zda ten vojensk\u00fd konflikt bude kr\u00e1tk\u00fd, nebo dlouh\u00fd. Tedy zda p\u016fjde o t\u00fddny, m\u011bs\u00edce, nebo p\u016fl roku \u010di rok. A z\u00e1le\u017e\u00ed tak\u00e9 na tom, do jak\u00e9 m\u00edry se poda\u0159\u00ed odstranit ta \u00fazk\u00e1 m\u00edsta, jako je Hormuzsk\u00fd pr\u016fliv. Dote\u010f o n\u011bm m\u00e1lokdo sly\u0161el, a najednou h\u00fdbe sv\u011btem. Tak\u017ee pt\u00e1te-li se m\u011b, jak\u00fd dopad na inflaci to bude m\u00edt, odhadnut\u00e9 to nem\u00e1m. P\u0159edpov\u011b\u010f dal\u0161\u00edho v\u00fdvoje je sp\u00ed\u0161 v duchu \u201enebude-li pr\u0161et, nezmoknem\u201c.<\/p>\n

Co to znamen\u00e1?<\/p>\n

Pokud bychom se b\u00fdvali pod\u00edvali na ceny ropn\u00fdch futures minul\u00fd t\u00fdden, z \u010dasov\u00e9 struktury vypl\u00fdvalo, \u017ee trh po\u010d\u00edtal s kr\u00e1tkodob\u00fdm vzep\u011bt\u00edm, ale \u017ee by cena m\u011bla v horizontu t\u00fddn\u016f j\u00edt zase dol\u016f. Nev\u00edme ale, jak to bude vypadat b\u011bhem tohoto t\u00fddne. Jestli \u010dasov\u00e1 struktura cen futures z\u016fstane podobn\u00e1, anebo zda se vych\u00fdl\u00ed sm\u011brem nahoru, proto\u017ee trh bude o\u010dek\u00e1vat dlouhodob\u011b vy\u0161\u0161\u00ed ceny.<\/p>\n

Kdy\u017e se pod\u00edv\u00e1me, co zp\u016fsobila pandemie covidu, kter\u00e1 krom\u011b jin\u00e9ho naru\u0161ila glob\u00e1ln\u00ed dodavatelsk\u00e9 \u0159et\u011bzce. Plyne z toho n\u011bjak\u00e9 pou\u010den\u00ed, jak by mohl inflaci ovlivnit zm\u00edn\u011bn\u00fd konflikt v Persk\u00e9m z\u00e1livu?<\/p>\n

Pokud jde o pandemii koronaviru, tam bylo pom\u011brn\u011b brzy z\u0159ejm\u00e9, \u017ee nejde o \u0161ok na p\u00e1r t\u00fddn\u016f. Nav\u00edc se pozd\u011bji uk\u00e1zalo, \u017ee velmi siln\u00fd infla\u010dn\u00ed \u00fa\u010dinek nem\u011bl jen samotn\u00fd covid, ale p\u0159edev\u0161\u00edm reakce vl\u00e1d a centr\u00e1ln\u00edch bank. Do ekonomiky p\u0159i\u0161lo b\u011bhem kr\u00e1tk\u00e9 doby mimo\u0159\u00e1dn\u00e9 mno\u017estv\u00ed pen\u011bz, zat\u00edmco nab\u00eddka zbo\u017e\u00ed a slu\u017eeb byla naru\u0161en\u00e1. Proto se infla\u010dn\u00ed tlak projevil i s v\u00fdrazn\u00fdm zpo\u017ed\u011bn\u00edm a dozn\u00edval je\u0161t\u011b v roce 2022. To je d\u016fle\u017eit\u00e9 pou\u010den\u00ed i pro dne\u0161ek: v ekonomice \u010dasto p\u016fsob\u00ed setrva\u010dnosti a zpo\u017ed\u011bn\u00ed, tak\u017ee p\u0159\u00ed\u010dina a n\u00e1sledek od sebe neb\u00fdvaj\u00ed vzd\u00e1len\u00e9 dny, ale sp\u00ed\u0161e \u010dtvrtlet\u00ed nebo i roky. V tomto smyslu je spr\u00e1vn\u00e9 \u0159\u00edci, \u017ee inflace roku 2022 byla do zna\u010dn\u00e9 m\u00edry d\u016fsledkem p\u0159edchoz\u00ed expanzivn\u00ed m\u011bnov\u00e9 a rozpo\u010dtov\u00e9 politiky, nikoli jen okam\u017eit\u00fdm v\u00fdsledkem tehdej\u0161\u00edch politick\u00fdch rozhodnut\u00ed.<\/p>\n

\t\t\"\"<\/p>\n

\t\t\u010c\u00edm del\u0161\u00ed, t\u00edm tvrd\u0161\u00ed dopad i na \u010deskou ekonomiku. V\u00e1lku v Persk\u00e9m z\u00e1livu nelze podce\u0148ovat, varuj\u00ed ekonomov\u00e9
\n\t\tLeaders<\/a><\/p>\n

Rozpoutan\u00fd v\u00e1le\u010dn\u00fd konflikt mezi \u00cdr\u00e1nem a Izraelem po boku se Spojen\u00fdmi st\u00e1ty by nem\u011bl m\u00edt na glob\u00e1ln\u00ed a \u010deskou ekonomiku v\u00fdznamn\u00fd vliv. Pokud ov\u0161em nebude trvat dlouho, shodli se \u0161pi\u010dkov\u00ed makroekonomov\u00e9 na Glob\u00e1ln\u00edm Investi\u010dn\u00edm Summitu (GIS), kter\u00fd se u\u017e po p\u00e1t\u00e9 konal v\u00a0Praze. \u00a0<\/p>\n

Ivana Pe\u010dinkov\u00e1<\/p>\n

\tP\u0159e\u010d\u00edst \u010dl\u00e1nek<\/a><\/p>\n

\u0158ada ekonom\u016f pova\u017euje za jeden z hybatel\u016f tehdej\u0161\u00ed rekordn\u00ed inflace p\u0159edch\u00e1zej\u00edc\u00ed enormn\u00ed r\u016fst mezd a plat\u016f a tak\u00e9 covidov\u00fd lockdown, kter\u00fd rovn\u011b\u017e p\u0159isp\u011bl k tomu, \u017ee lidem najednou skokov\u011b narostly \u00faspory, kter\u00e9 za\u010daly po skon\u010den\u00ed lockdownu masivn\u011b rozpou\u0161t\u011bt.<\/p>\n

Mzdy a platy rostly pr\u00e1v\u011b proto, \u017ee centr\u00e1ln\u00ed banky a feder\u00e1ln\u00ed \u010di st\u00e1tn\u00ed rozpo\u010dty zem\u00ed od Ameriky p\u0159es Evropu a\u017e po \u010cesko byly expanzivn\u00ed. Pen\u011bz v\u00a0ob\u011bhu p\u0159ibylo o des\u00edtky procent b\u011bhem velmi kr\u00e1tk\u00e9 doby. N\u011bco takov\u00e9ho jsme neza\u017eili od za\u010d\u00e1tku 80. let. Jinak \u0159e\u010deno: dom\u00e1cnosti m\u011bly v\u00edce prost\u0159edk\u016f nejen proto, \u017ee nemohly utr\u00e1cet b\u011bhem lockdown\u016f, ale i proto, \u017ee st\u00e1ty a centr\u00e1ln\u00ed banky ekonomiku mimo\u0159\u00e1dn\u011b podporovaly. Kdy\u017e se pak ekonomika znovu otev\u0159ela, tlak na ceny byl o to siln\u011bj\u0161\u00ed.<\/p>\n

V\u00fdrazn\u00fd r\u016fst mezd nastal i v posledn\u00edch m\u011bs\u00edc\u00edch. Mohl by i tento faktor, na pozad\u00ed americko\/izraelsko-\u00edr\u00e1nsk\u00e9 v\u00e1lky, m\u00edt vliv na inflaci?<\/p>\n

To je mo\u017en\u00e9, ale vliv by ur\u010dit\u011b nebyl takov\u00fd, jako za covidu. Moment\u00e1ln\u011b toti\u017e neprob\u00edh\u00e1 masivn\u00ed m\u011bnov\u00e1 expanze. P\u0159ipomn\u011bl bych americkou vojenskou operaci v Ir\u00e1ku v roce 2003, kdy se o\u010dek\u00e1valo velk\u00e9 vzep\u011bt\u00ed cen. Jen\u017ee pak se uk\u00e1zalo, \u017ee to na inflaci nem\u011blo moc velk\u00fd vliv. Prost\u011b proto, \u017ee ekonomika u\u017e nebyla na rop\u011b tolik z\u00e1visl\u00e1, jak byla p\u0159i ropn\u00fdch kriz\u00edch v 70. letech.<\/p>\n

Kdysi jsem vid\u011bl propo\u010det, kter\u00fd ukazoval, do jak\u00e9 m\u00edry byla cena ropy d\u016fle\u017eit\u00e1 pro inflaci v letech prvn\u00ed ropn\u00e9 krize. Tedy 1973 a 1974 a tak\u00e9 b\u011bhem druh\u00e9 ropn\u00e9 krize v roce 1979. Pr\u00e1v\u011b v 70. letech m\u011bly ropn\u00e9 \u0161oky na inflaci mimo\u0159\u00e1dn\u011b siln\u00fd dopad, proto\u017ee ekonomiky byly na energi\u00edch mnohem z\u00e1vislej\u0161\u00ed a m\u011bnov\u00e1 politika nedok\u00e1zala infla\u010dn\u00ed tlaky dostate\u010dn\u011b zadr\u017eet. Fed i studie IMF pozd\u011bji ukazovaly, \u017ee nov\u011bj\u0161\u00ed ropn\u00e9 \u0161oky m\u011bly na \u0161ir\u0161\u00ed inflaci men\u0161\u00ed dopad ne\u017e v\u00a070. letech. IMF uv\u00e1d\u00ed, \u017ee desetiprocentn\u00ed r\u016fst glob\u00e1ln\u00ed ropn\u00e9 inflace zvy\u0161oval dom\u00e1c\u00ed inflaci v pr\u016fm\u011bru asi o 0,4 procentn\u00edho bodu na dopadu, ale efekt v \u010dase sl\u00e1bl.<\/p>\n

Na druh\u00e9 stran\u011b, podle posledn\u00edch \u00fadaj\u016f, kter\u00e9 jsem \u010detl v pond\u011bl\u00ed r\u00e1no, je sou\u010dasn\u00fd v\u00fdpadek t\u011b\u017eby a dopravy v\u00fdrazn\u011b vy\u0161\u0161\u00ed, ne\u017e co byl b\u011bhem prvn\u00ed ropn\u00e9 krize v roce 1973. Nicm\u00e9n\u011b tyto \u00fadaje maj\u00ed do zna\u010dn\u00e9 m\u00edry spekulativn\u00ed charakter.<\/p>\n

\t\t\"\"<\/p>\n

\t\tNa \u010cesko m\u00e1 konflikt v \u00cdr\u00e1nu mal\u00fd vliv, \u0159\u00edk\u00e1 ekonom Barto\u0148
\n\t\tMoney<\/a><\/p>\n

Je \u010desk\u00e1 ekonomika kv\u016fli \u00fatok\u016fm na \u00cdr\u00e1n v nebezpe\u010d\u00ed? Zdra\u017e\u00ed benz\u00edn, plyn, elekt\u0159ina? Jist\u00e9 ekonomick\u00e9 dopady mohou nastat, ale zat\u00edm je nelze srovn\u00e1vat s covidem, \u0159\u00edk\u00e1 Petr Barto\u0148, hlavn\u00ed ekonom spole\u010dnosti Natland, kter\u00fd dnes vystoup\u00ed na jubilejn\u00edm p\u00e1t\u00e9m ro\u010dn\u00edku Global Investment Summitu (GIS). Summit se letos zam\u011b\u0159\u00ed p\u0159edev\u0161\u00edm na investice do nemovitost\u00ed, ale nab\u00eddne i \u0161irok\u00fd p\u0159esah do kapit\u00e1lov\u00fdch trh\u016f, private equity, tradingu, kryptom\u011bn a makroekonomick\u00fdch predikc\u00ed.<\/p>\n

Dalibor Mart\u00ednek<\/p>\n

\tP\u0159e\u010d\u00edst \u010dl\u00e1nek<\/a><\/p>\n

Spolu s ropou zdra\u017euj\u00ed i dal\u0161\u00ed energetick\u00e9 komodity jako plyn. Co je pro \u010cesko hor\u0161\u00ed, zdra\u017eov\u00e1n\u00ed ropy, nebo plynu?<\/p>\n

Proto\u017ee kon\u010d\u00ed zima, d\u00e1 se rozum\u011bt argumentu, \u017ee v dan\u00e9m okam\u017eiku m\u016f\u017ee b\u00fdt citeln\u011bj\u0161\u00ed zdra\u017een\u00ed ropy a pohonn\u00fdch hmot. Z hlediska \u0161ir\u0161\u00edch makroekonomick\u00fdch dopad\u016f ale z\u00e1le\u017e\u00ed na tom, kde p\u0159esn\u011b se cenov\u00fd \u0161ok objev\u00ed, jak dlouho potrv\u00e1 a jak se p\u0159enese do pr\u016fmyslu, dopravy a dom\u00e1cnost\u00ed. Pro zemi, jako je \u010cesko, m\u016f\u017ee b\u00fdt v n\u011bkter\u00fdch obdob\u00edch velmi nebezpe\u010dn\u00fd i r\u016fst cen plynu, zejm\u00e9na pokud by siln\u011b dopadl na pr\u016fmysl a v\u00fdrobu elekt\u0159iny.<\/p>\n

Velk\u00fdm t\u00e9matem, kter\u00e9 rezonuje v nej\u0161ir\u0161\u00ed ve\u0159ejnosti, je zdra\u017eov\u00e1n\u00ed benzinu a nafty u \u010derpac\u00edch stanic. Lid\u00e9 \u0159\u00edkaj\u00ed: pro\u010d tolik zdra\u017euj\u00ed, to m\u011bly benzinky tak mal\u00e9 z\u00e1soby?<\/p>\n

Pumpa\u0159i nenace\u0148uj\u00ed pohonn\u00e9 hmoty podle po\u0159izovac\u00edch n\u00e1klad\u016f. To plat\u00ed i obecn\u011b. \u017d\u00e1dn\u00e9 zbo\u017e\u00ed \u010di slu\u017eba se neoce\u0148uje podle n\u00e1klad\u016f, n\u00fdbr\u017e podle nab\u00eddky a popt\u00e1vky. A samoz\u0159ejm\u011b tak\u00e9 podle o\u010dek\u00e1v\u00e1n\u00ed. A kdy\u017e nastane o\u010dek\u00e1v\u00e1n\u00ed r\u016fstu cen, pumpa\u0159i bez ohledu na to, za kolik nakoupili sv\u00e9 z\u00e1soby, samoz\u0159ejm\u011b zdra\u017e\u00ed. Kdy\u017e si p\u0159e\u010dtou zpr\u00e1vy anebo se pod\u00edvaj\u00ed na zpr\u00e1vy a vid\u00ed, co se d\u011bje, tak lze asi t\u011b\u017eko o\u010dek\u00e1vat, \u017ee by si \u0159ekli, j\u00e1 m\u00e1m je\u0161t\u011b z\u00e1sobu na t\u00fdden, tak zat\u00edm pojedu na n\u00edzk\u00e9 ceny, mn\u011b to nevad\u00ed. Tak\u017ee to zvy\u0161ov\u00e1n\u00ed cen je o\u010dek\u00e1vateln\u00e9. Ale zaj\u00edmalo by m\u011b, do jak\u00e9 m\u00edry se prom\u00edtne zv\u00fd\u0161en\u00e1 popt\u00e1vka ze strany automobilist\u016f, kte\u0159\u00ed si \u0159ekli, pro jistotu si natankuju plnou n\u00e1dr\u017e a je\u0161t\u011b tak\u00e9 kanystr. Abych m\u011bl z\u00e1sobu pro p\u0159\u00edpad dal\u0161\u00edho zdra\u017eov\u00e1n\u00ed. Nev\u00edm, zda se toto tak\u00e9 projevuje na popt\u00e1vce u \u010derpac\u00edch stanic.<\/p>\n

\t\t\"Petr<\/p>\n

\t\t\u0160\u00e9f m\u011bnov\u00e9 sekce \u010cNB Sklen\u00e1\u0159: V\u00e1lka v Persk\u00e9m z\u00e1livu n\u00e1s ovliv\u0148uje nep\u0159\u00edmo. Nov\u00e1 infla\u010dn\u00ed vlna \u010cesku nehroz\u00ed
\n\t\tLeaders<\/a><\/p>\n

V\u00e1le\u010dn\u00fd konflikt dopadne na \u010cesko pouze zprost\u0159edkovan\u011b. Dne\u0161n\u00ed situace je \u00fapln\u011b jin\u00e1, ne\u017e na p\u0159elomu let 2021 a 2022, kdy \u010desk\u00e1 ekonomika u\u017e del\u0161\u00ed dobu nebyla v dobr\u00e9 kondici a po invazi Ruska na Ukrajinu jsme za\u017eili energetickou krizi a masivn\u00ed vzestup inflace. \u201eZat\u00edm v\u0161e nasv\u011bd\u010duje tomu, \u017ee velk\u00e1 infla\u010dn\u00ed vlna, kter\u00e1 tu byla p\u0159ed p\u00e1r lety, n\u00e1m nyn\u00ed nehroz\u00ed,\u201c \u0159\u00edk\u00e1 v rozhovoru pro Newstream \u0159editel sekce m\u011bnov\u00e9 \u010cesk\u00e9 n\u00e1rodn\u00ed banky (\u010cNB) Petr Sklen\u00e1\u0159.<\/p>\n

Ivana Pe\u010dinkov\u00e1<\/p>\n

\tP\u0159e\u010d\u00edst \u010dl\u00e1nek<\/a><\/p>\n

Co \u0159\u00edk\u00e1te n\u00e1vrhu p\u0159edsedy SPD Tomia Okamury sn\u00ed\u017eit u pohonn\u00fdch hmot spot\u0159ebn\u00ed da\u0148?\u00a0<\/p>\n

Je to takov\u00fd l\u00edbiv\u00fd n\u00e1vrh a pan Okamura nen\u00ed jedin\u00fd, kdo s n\u00edm p\u0159i\u0161el. U\u017e jsem to sly\u0161el i odjinud. V nejhor\u0161\u00edm p\u0159\u00edpad\u011b by se o tom dalo uva\u017eovat, ale mysl\u00edm si, \u017ee je na to je\u0161t\u011b brzy a \u017ee to nen\u00ed \u00fapln\u011b ide\u00e1ln\u00ed \u0159e\u0161en\u00ed.<\/p>\n

Co je tedy podle v\u00e1s ide\u00e1ln\u00ed \u0159e\u0161en\u00ed?<\/p>\n

Ned\u011blat nic, prost\u011b tu situaci p\u0159e\u010dkat. Obvykle se toti\u017e ukazuje, \u017ee v\u011bt\u0161ina takov\u00fdch kr\u00e1tkodob\u00fdch usp\u011bchan\u00fdch z\u00e1sah\u016f sp\u00ed\u0161e situaci zhor\u0161\u00ed, ne\u017e aby pomohla.<\/p>\n

A co \u0159\u00edk\u00e1te pl\u00e1nu vl\u00e1dy monitorovat mar\u017ee \u010derpac\u00edch stanic?<\/p>\n

To pova\u017euji za takov\u00e9 populistick\u00e9 prohl\u00e1\u0161en\u00ed.<\/p>\n

\t\t\"\"<\/p>\n

\t\tNejlep\u0161\u00ed spo\u0159ic\u00ed \u00fa\u010dty se v b\u0159eznu dr\u017e\u00ed \u010dty\u0159ky. N\u00e1skok p\u0159ed inflac\u00ed ale mohou kv\u016fli \u00cdr\u00e1nu ztr\u00e1cet
\n\t\tMoney<\/a><\/p>\n

B\u0159eznov\u00fd \u017eeb\u0159\u00ed\u010dek spo\u0159ic\u00edch \u00fa\u010dt\u016f p\u0159in\u00e1\u0161\u00ed na prvn\u00ed pohled zn\u00e1m\u00fd obr\u00e1zek. Nejlep\u0161\u00ed sazby se po\u0159\u00e1d dr\u017e\u00ed kolem \u010dty\u0159 procent, \u010dasto ale za cenu podm\u00ednek, limit\u016f \u010di \u010dasov\u011b omezen\u00fdch bonus\u016f. Do b\u0159eznov\u00e9ho p\u0159ehledu se ale vkr\u00e1d\u00e1 nov\u00fd faktor: v\u00e1lka v \u00cdr\u00e1nu.\u00a0<\/p>\n

Veronika Kudrnov\u00e1<\/p>\n

\tP\u0159e\u010d\u00edst \u010dl\u00e1nek<\/a><\/p>\n

Myslet na budoucnost. To je hlavn\u00ed t\u00e9ma zimn\u00edho vyd\u00e1n\u00ed magaz\u00ednu Newstream CLUB. Hv\u011bzdou magaz\u00ednu je Rony Plesl, kter\u00fd v rozhovoru poodkr\u00fdv\u00e1 velk\u00e9 pl\u00e1ny pro dal\u0161\u00ed roky, kter\u00e9 chce str\u00e1vit v nov\u00e9m ateli\u00e9ru za Prahou. D\u00e1le si m\u016f\u017eete p\u0159e\u010d\u00edst rozhovor s miliard\u00e1\u0159em a investorem Michalem Zahradn\u00ed\u010dkem, kter\u00fd p\u0159ed rokem otev\u0159el fond Life BioCEEd a hled\u00e1 skryt\u00e9 poklady ve v\u011bdeck\u00fdch laborato\u0159\u00edch.<\/p>\n

Se sv\u00fdmi vizemi budoucnosti se pod\u011bl\u00ed i dal\u0161\u00ed v\u00fdrazn\u00e9 figury \u010desk\u00e9ho ve\u0159ejn\u00e9ho d\u011bn\u00ed v\u010detn\u011b technologick\u00e9ho evangelisty Petra M\u00e1ry nebo ekonoma a filozofaTom\u00e1\u0161e Sedl\u00e1\u010dka.\u00a0<\/p>\n

O zachov\u00e1n\u00ed hodnot, tradic a budov\u00e1n\u00ed odkazu hovo\u0159\u00ed \u0160t\u011bp\u00e1n Laichter, kter\u00fd opravuje rodov\u00fd d\u016fm na pra\u017esk\u00fdch Vinohradech od architekta Kot\u011bry.<\/p>\n

\u010ce\u0161t\u00ed a sloven\u0161t\u00ed dolarov\u00ed milion\u00e1\u0159i pro\u017e\u00edvaj\u00ed dobr\u00e9 \u010dasy. A to nikoli jen kv\u016fli \u00fasp\u011bch\u016fm v podnik\u00e1n\u00ed, ale tak\u00e9 d\u00edky situaci na trz\u00edch, ukazuje nejnov\u011bj\u0161\u00ed vyd\u00e1n\u00ed Wealth Reportu, kter\u00fd ve spolupr\u00e1ci s agenturou Perfect Crowd p\u0159ipravila J&T Banka. V\u00fdnosy z akci\u00ed se v\u016fbec poprv\u00e9 staly hlavn\u00edm zdrojem p\u0159\u00edjm\u016f, kdy\u017e p\u0159ekonaly i v\u00fdnosy z podnik\u00e1n\u00ed. A co je nem\u00e9n\u011b podstatn\u00e9: v\u011bt\u0161ina respondent\u016f o\u010dek\u00e1v\u00e1, \u017ee dob\u0159e bude i nad\u00e1le, t\u0159eba kv\u016fli investic\u00edm do private equity.\u00a0Kam d\u00e1le tuzem\u0161t\u00ed milion\u00e1\u0159i investuj\u00ed? I to zjist\u00edte v\u00a0nov\u00e9m vyd\u00e1n\u00ed magaz\u00ednu Newstream CLUB.<\/p>\n

Des\u00e1t\u00e9 vyd\u00e1n\u00ed \u010dtvrtletn\u00edku Newstream CLUB je v prodeji na st\u00e1nc\u00edch i v online distribuci Send, kde je mo\u017en\u00e9 titul tak\u00e9 p\u0159edplatit.\u00a0Digit\u00e1ln\u00ed verzi magaz\u00ednu lze zakoupit p\u0159\u00edmo na webu newstream.cz.<\/p>\n

Na dal\u0161\u00ed \u010d\u00edslo magaz\u00ednu se m\u016f\u017eete t\u011b\u0161it op\u011bt na ja\u0159e.<\/p>\n","protected":false},"excerpt":{"rendered":"Studie Mezin\u00e1rodn\u00edho m\u011bnov\u00e9ho fondu (IMF) ukazuj\u00ed, \u017ee r\u016fst ceny ropy o desetinu zv\u00fd\u0161\u00ed inflaci asi o 0,4 procentn\u00edho…\n","protected":false},"author":2,"featured_media":20838,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[3138,150,10152,109,108,106,249,10151,574],"class_list":{"0":"post-20837","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-evropa","8":"tag-emisni-povolenky","9":"tag-energetika","10":"tag-ets2","11":"tag-europa","12":"tag-europe","13":"tag-evropa","14":"tag-evropska-komise","15":"tag-plyn-z-ruska","16":"tag-ursula-von-der-leyenova"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116210093431641193","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/20837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=20837"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/20837\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/20838"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=20837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=20837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=20837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}