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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2024

2023

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  • Euro wrap-up

    Euro wrap-up

    26 April 2024 355 KB PDF
    • Bunds followed the global trend higher as an ECB survey suggested that euro area consumer inflation expectations remain well-anchored and bank lending remains relatively subdued.
    • Gilts also made gains while UK consumer confidence edged slightly higher at the start of Q2.
  • US Economic Comment

    US Economic Comment

    26 April 2024 606 KB PDF
    • FOMC: policy rate expected to remain at 5.375%, but changes to QT possible
    • The March inflation data: not as bad as feared, but progress toward 2% has stalled
  • Euro wrap-up

    Euro wrap-up

    25 April 2024 245 KB PDF
    • Bunds followed USTs lower, while German consumer confidence rose to a two-year high amid an improvement in income expectations.
    • Gilts also made losses even as a UK retail survey suggested a weak start to Q2 for sales and orders.
  • US Data Review

    US Data Review

    25 April 2024 315 KB PDF
    • GDP: solid growth in Q1
    • Inflation: brisk advances in the PCE price indexes
    • Unemployment claims: dips in initial and continuing claims
  • Euro wrap-up

    Euro wrap-up

    24 April 2024 263 KB PDF
    • Bunds made large losses as the ifo survey signalled accelerated recovery momentum in the German economy at the start of Q2, but Italian economic sentiment softened amid a deteriorating fiscal backdrop.
    • Gilts also made losses as a UK survey signalled an improvement in manufacturing production expectations.
  • Euro wrap-up

    Euro wrap-up

    23 April 2024 298 KB PDF
    • While ECB Vice President Luis de Guindos suggested that a rate cut in June is now almost a ‘fait accompli’, Bunds made losses as the flash PMIs suggested a pickup in growth momentum at the start of Q2.
    • Gilts also made losses as the UK flash PMIs pointed to accelerated economic growth momentum and a notable increase in cost pressures in services, while BoE Chief Economist Huw Pill said there is still a ‘reasonable way to go’ before he is ready to support a rate cut.
  • US Data Review

    US Data Review

    23 April 2024 283 KB PDF
    • New home sales: a jump in March, but sales figures are volatile from month-to-month
    • Inventories: months’ supply elevated but not threatening
  • Euro wrap-up

    Euro wrap-up

    22 April 2024 229 KB PDF
    • Bunds followed USTs higher even as euro area consumer confidence rose for a third consecutive month to its highest level since Russia’s invasion of Ukraine.
    • Gilts also made gains on a quiet day for UK economic news.