London & NY Research

  • JAPAN

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

  • EUROPE

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

  • US

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

FILTER DOCUMENTS

Category Clear
Archive Reset

2024

2023

  • Euro wrap-up

    Euro wrap-up

    19 July 2024 305 KB PDF
    • Bunds made losses as producer price data suggested that disinflation in Germany’s goods sector is near an end.
    • Despite some weak UK retail sales figures at end-Q2, Gilts followed USTs lower, while a consumer survey suggested that conditions for making major purchases were the most favourable since early 2022.
  • Euro wrap-up

    Euro wrap-up

    18 July 2024 283 KB PDF
    • While the ECB predictably left interest rates and its forward guidance unchanged, Bunds made gains as Lagarde downplayed concerns about recent strong pay growth and services inflation.
    • Gilts also made gains as UK data pointed to diminished labour market tightness amid moderating wage growth.
  • Euro wrap-up

    Euro wrap-up

    17 July 2024 310 KB PDF
    • Bunds were mixed as final euro area inflation estimates confirmed stickiness in services, but alternative measures of underlying inflation moderated.
    • While headline UK inflation remained at the 2% target in June, Gilts made losses as services inflation significantly beat the BoE’s expectations. 
  • Euro wrap-up

    Euro wrap-up

    16 July 2024 271 KB PDF
    • Bunds made gains as euro area export data disappointed, the ZEW survey suggested that investors are a little warier about the German economic outlook, and an ECB survey suggested that credit conditions are very gradually becoming less tight.
    • Gilts also followed the global trend higher on a quiet day for economic data from the UK.
  • Euro wrap-up

    Euro wrap-up

    15 July 2024 236 KB PDF
    • Bunds made gains as an ECB survey signalled a moderation in firms’ selling-price and wage expectations in Q2, and euro area industrial production fell in May.
    • Gilts made modest gains on a quiet day for UK economic news.
  • Euro wrap-up

    Euro wrap-up

    12 July 2024 316 KB PDF
    • Bunds partially reversed yesterday’s gains, while final French and Spanish June inflation figures confirmed ongoing disinflation in goods but stickiness in certain services components.
    • Gilts followed Bunds lower on a quiet day for UK economic data.
  • Euro wrap-up

    Euro wrap-up

    11 July 2024 268 KB PDF
    • Gilts made gains despite a significant upside surprise to UK GDP growth in May.
    • Bunds also followed USTs higher as the final German inflation data for June predictably aligned with their flash estimates.
  • Euro wrap-up

    Euro wrap-up

    8 July 2024 248 KB PDF
    • Longer-dated Bunds made gains and French OAT spreads narrowed slightly after yesterday’s second-round vote in the French election resulted in a hung parliament.
    • While the often-hawkish BoE external member Haskel signalled that he will likely vote to keep Bank Rate unchanged at his final MPC meeting in August, Gilts made modest gains.