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.

  • US

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

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2026

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  • Euro wrap-up

    Euro wrap-up

    19 August 2026 312 KB PDF
    • Bunds made losses as final euro area inflation data confirmed a modest pickup in headline and core rates in July.
    • While UK inflation predictably jumped on higher household energy bills, Gilts made gains as a stable core print and easing input costs reinforced expectations that the BoE will leave rates unchanged for some time.
  • Euro wrap-up

    Euro wrap-up

    18 August 2026 341 KB PDF
    • With wholesale energy prices higher, Bunds made losses while the ZEW survey suggested that investor optimism with respect to the German economic outlook has risen again.   
    • Gilts made slightly smaller losses as the latest UK labour market data reported further moderation in private sector pay growth and declining payrolls.
  • US Economic Comment

    US Economic Comment

    14 August 2026 379 KB PDF
    • August price data: inflation reports for July suggest a tame increase in the PCE price index, which could allow the FOMC to leave interest rates unchanged in September amid possible softening in other data
    • Retail sales and consumer sentiment: disappointing
  • US Data Review

    US Data Review

    12 August 2026 204 KB PDF
    • CPI: war-driven pressure in energy prices abated in July, contributing to a restrained headline reading; core rose moderately after rounding to no change in the previous month
  • Euro wrap-up

    Euro wrap-up

    7 August 2026 343 KB PDF
    • Bunds made modest gains while the German dataflow confirmed a rebound in industrial output and firm goods export growth in Q2.
    • Gilts also followed the global trend higher on a quiet day for UK economic news.
  • Euro wrap-up

    Euro wrap-up

    6 August 2026 334 KB PDF
    • Bunds made modest losses as German factory orders beat expectations and euro area retail sales displayed continued resilience.
    • Gilts followed the global trend lower while the UK construction PMIs showed signs of recovery at the start of Q3.
  • Euro wrap-up

    Euro wrap-up

    5 August 2026 329 KB PDF
    • While euro area producer prices fell for the first time since before the start of the Iran conflict and the latest French industrial production data were weak, Bunds were little changed.
    • Gilts were also little changed from Tuesday’s close as the UK’s final July services PMIs were consistent with slightly firmer activity and moderating price pressures in the sector.
  • Euro wrap-up

    Euro wrap-up

    3 August 2026 349 KB PDF
    • Bunds followed the global trend higher as oil prices fell sharply on renewed tentative optimism in the Middle East, while German retail sales disappointed in June.
    • Gilts outperformed even as the final UK manufacturing PMI tentatively pointed towards a more favourable economic outlook.