London & NY Research


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


    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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  • US Data Review

    US Data Review

    2 October 2020 220 KB PDF
    • Employment: limping ahead
    • Factory orders: moderate increase
  • Euro Wrap-up

    Euro Wrap-up

    1 October 2020 349 KB PDF
    • Bunds were little changed even as euro area unemployment edged higher and car registrations in France and Spain remained in reverse.
    • Gilts ended the day little changed, as initial reports suggesting EU and UK officials had made some progress in the FTA discussions were followed by reports that EU officials saw no increased optimism.
  • Euro Wrap-up

    Euro Wrap-up

    30 September 2020 375 KB PDF
    • As German retail sales data beat expectations, Bunds made losses despite further notable declines in French and Italian inflation and signals from Lagarde of possible future amendments to the ECB’s policy strategy.
    • Gilts made steeper losses as BoE Chief Economist Haldane suggested that pessimism regarding the UK economy had been overdone.
  • Euro wrap-up

    Euro wrap-up

    29 September 2020 362 KB PDF
    • While the Commission sentiment survey suggested ongoing economic recovery in the euro area, Bunds and other euro area government bonds made gains as flash German inflation data surprised on the downside.
    • Longer-dated Gilts also made gains despite a marked jump in UK mortgage approvals.
  • US Data Review

    US Data Review

    29 September 2020 236 KB PDF
    • International trade in goods: strong imports exceed firm exports
    • Consumer confidence: noticeable improvement, but still restrained
  • US Economic Comment

    US Economic Comment

    28 September 2020 336 KB PDF
    • Sources of support: vigorous rebound in housing; improvement in capital spending 
    • Financial positions of households and businesses: deceiving
  • US Data Review

    US Data Review

    25 September 2020 155 KB PDF
    • Durable goods orders: modest advance overall; better in the capital goods sector
  • Euro Wrap-up

    Euro Wrap-up

    25 September 2020 531 KB PDF
    • Bunds made losses as draft plans suggested Germany’s government will increase slightly issuance of bonds and bills in 2021 compared to 2020, while an Italian economic sentiment survey pointed to ongoing recovery.   
    • Gilts also made losses as UK consumer confidence improved slightly while public borrowing logged a record high for August.