London & NY Research

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    Daiwa Europe’s market-leading research on the Japanese economy.

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    Daiwa’s research coverage of the euro area and UK economies.

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    Daiwa’s coverage of the US economy from our colleagues in New York

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2026

2025

  • US Data Review

    US Data Review

    14 January 2026 253 KB PDF
    • Retail sales: better than consensus; indicative of solid activity in Q425
    • Existing home sales: activity firms up in the final month of 2025; inventories slide
  • Euro wrap-up

    Euro wrap-up

    13 January 2026 314 KB PDF
    • Bunds followed USTs higher after the release of US CPI data to close the day little changed on a relatively quiet day for euro area economic news.
    • Gilts made modest losses while a UK retail survey suggested that demand remained subdued in the run up to Christmas.
  • US Data Review

    US Data Review

    13 January 2026 233 KB PDF
    • CPI: moderate increases in headline and core in December; latest results unlikely to prompt easing in monetary policy at the late-January FOMC meeting
  • Euro wrap-up

    Euro wrap-up

    9 January 2026 384 KB PDF
    • Despite a significant upside surprise to German industrial production and modest growth in euro area retail sales, Bunds ended the day little changed.
    • Gilts made moderate gains on a quiet end to the week for UK economic news.
  • US Economic Comment

    US Economic Comment

    9 January 2026 419 KB PDF
    • December employment: unemployment dipped, although job growth remained tepid
    • FOMC: likely to view the results as sufficient to hold the fed funds rate steady in January
  • Euro wrap-up

    Euro wrap-up

    8 January 2026 324 KB PDF
    • Bunds made losses as German factory orders significantly beat expectations, while the Commission survey was consistent with steady growth in euro area GDP in Q4.
    • Gilts were little changed as the BoE’s DMP survey suggested stubbornly high business wage expectations.
  • Euro wrap-up

    Euro wrap-up

    7 January 2026 352 KB PDF
    • Bunds made further gains as euro area inflation returned to target and German retail sales data disappointed.
    • Gilts outperformed while the UK construction PMIs implied a marked decline in activity in the sector in Q4.
  • US Data Review

    US Data Review

    7 January 2026 230 KB PDF
    • ISM services: firmest reading of 2025, led by new orders; prices ease but remain elevated