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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

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  • Euro wrap-up

    Euro wrap-up

    21 October 2026 351 KB PDF
    • Bunds made losses, while French and Belgian spreads widened amid ongoing Budget concerns and a lack of progress in Middle East talks.
    • While UK inflation and public sector borrowing rose more than expected, Gilts made gains as central government cash borrowing undershot expectations.
  • Euro wrap-up

    Euro wrap-up

    20 October 2026 323 KB PDF
    • While German producer price inflation jumped more than expected and euro area construction data showed output rising to a 10-month high, Bunds made gains on optimism regarding Middle East peace talks.
    • Gilts were mixed with shorter-dated maturities making losses as the UK labour market showed signs of stabilisation.
  • Euro wrap-up

    Euro wrap-up

    16 October 2026 485 KB PDF
    • Bunds were mixed as euro area inflation was confirmed at a three-year high, but underlying price pressures remained contained and the goods trade balance returned to deficit.
    • Gilts made very modest gains after BoE Governor Bailey reiterated that evidence of second-round inflation effects remained limited and suggested that a rate hike next month was not assured.
  • Euro wrap-up

    Euro wrap-up

    15 October 2026 419 KB PDF
    • Bunds followed USTs higher while euro area industrial production data disappointed despite ongoing AI- and defence-related demand.
    • While UK GDP figures beat expectations again, Gilts also made gains.
  • US Data Review

    US Data Review

    15 October 2026 231 KB PDF
    • Retail sales: larger-than-expected advance fueled by higher gasoline prices
  • US Data Review

    US Data Review

    14 October 2026 284 KB PDF
    • CPI: war-driven jump in fuel prices influences hot read in headline; core rises a tick above consensus expectations
  • Euro wrap-up

    Euro wrap-up

    13 October 2026 415 KB PDF
    • Bunds were little changed as German inflation rose to the highest rate since end-2023 as the energy shock intensified, but core inflation held steady.
    • Despite a UK retail survey pointing to subdued sales growth at end-Q3, shorter-dated Gilts made modest losses.
  • European Banks - Quarterly ESG Update (3Q26)

    European Banks - Quarterly ESG Update (3Q26)

    12 October 2026 451 KB PDF
    • Sustainable debt volumes are on course for a record year following strong summer issuance. European activity has been led by FIGs and SSAs, but corporate supply has lagged amid weaker incentives.
    • Adaptation and resilience financing has gained momentum as climate risks increase, supported by improving frameworks and a growing project pipeline supporting climate-resilient infrastructure.
    • The strong primary conditions of the summer have since given way to more volatility and investor caution, with recent credit spread widening putting pressure on greeniums.