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

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2026

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  • Euro wrap-up

    Euro wrap-up

    2 April 2026 414 KB PDF
    • Bunds made losses as global wholesale energy prices jumped in response President Trump’s threats of further escalation in the Middle East conflict.
    • While the BoE DMP survey suggested that UK firms’ wage and price expectations remained well contained in March, Gilts underperformed.
  • US Data Review

    US Data Review

    1 April 2026 267 KB PDF
    • Retail sales: solid rebound after weather-related disruption in January
    • ISM manufacturing: indicating expansion for the third straight month; prices jump to a four-year high
  • US Data Review

    US Data Review

    31 March 2026 233 KB PDF
    • Consumer confidence: slight uptick influenced by improvement in views on current conditions; inflation expectations jump
  • Euro wrap-up

    Euro wrap-up

    31 March 2026 371 KB PDF
    • While euro area inflation jumped to a 14-month high in March and energy prices rose the most in four years, euro area govvies followed the global trend higher.
    • Gilts also made modest gains, while a survey suggested that UK shop prices were little changed in March.
  • Euro wrap-up

    Euro wrap-up

    30 March 2026 346 KB PDF
    • While German HICP inflation jumped to a 14-month high on fuel price pressures, Bunds made gains in line with the global trend.  
    • Gilts also made gains but underperformed as UK bank lending data firmed.
  • Euro wrap-up

    Euro wrap-up

    27 March 2026 360 KB PDF
    • Bunds made gains at the short end but losses at the long end of the curve, while the impact of the spike in wholesale energy prices was evident in Spanish inflation, which jumped to the highest since mid-2024.
    • Gilts were also mixed today as UK consumer confidence deteriorated in March, but retail sales were on track for solid growth in Q1 ahead of the war.
  • US Economic Comment

    US Economic Comment

    27 March 2026 415 KB PDF
    • Updated U.S. economic outlook: growth on track (for now), although downside risks have intensified on account of conflict in the Middle East
    • Inflation: higher in 2026 than previous anticipated
  • Euro wrap-up

    Euro wrap-up

    26 March 2026 285 KB PDF
    • European govvies made notable losses as various national surveys signalled a jump in consumer price expectations in March.
    • Gilts followed the global trend lower, while comments from BoE Deputy Governor Breeden suggested she could vote for either unchanged policy or an increase in rates in April, but uber-dove Taylor suggested the bar for a hike was high.