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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  • Euro Wrap-up

    Euro Wrap-up

    25 June 2021 661 KB PDF
    • Despite some softer euro area bank lending data, Bunds made losses as euro area economic sentiment surveys continued to beat expectations.
    • Despite a levelling off in UK consumer confidence, Gilts also made losses as a survey flagged another strong month for retail sales and a shortage of inventories.
  • US Data Review

    US Data Review

    24 June 2021 239 KB PDF
    • Durable goods orders: firm transportation orders; moderate elsewhere.
    • International trade in goods: slippage in May, but improvement so far in Q2.
    • Revised GDP: unrevised; softer net exports offset firmer results elsewhere.
  • Euro wrap-up

    Euro wrap-up

    24 June 2021 445 KB PDF
    • Bunds made modest gains even as the latest German and French business surveys beat expectations.
    • Gilts made more significant gains as the BoE’s MPC left its policy and forward guidance unchanged, and Haldane remained the only member to vote to reduce the asset purchases target.
  • US Data Review

    US Data Review

    23 June 2021 154 KB PDF
    • New home sales: a lost edge; perhaps needed cooling.
  • Euro Wrap-up

    Euro Wrap-up

    23 June 2021 416 KB PDF
    • Bunds made gains despite the flash PMIs signalling a pickup in euro area economic growth at end-Q2 amid continued supply bottlenecks and cost pressures.
    • Gilts made gains predominantly at the short end of the curve as the flash PMIs suggested that the pace of expansion in the UK economy moderated slightly in June.
  • Euro wrap-up

    Euro wrap-up

    22 June 2021 369 KB PDF
    • Bunds made modest losses as a report suggested the ECB would tolerate above-2% inflation when its strategy review concludes and a survey showed euro area consumer confidence at its highest since January 2018.
    • Gilts also made modest losses as a UK manufacturing survey signalled a strong rebound in output, orders and selling price expectations, and public borrowing fell short of expectations again.
  • US Data Review

    US Data Review

    22 June 2021 153 KB PDF
    • Existing home sales: constrained by limited inventory and high prices.
  • US Economic Comment

    US Economic Comment

    21 June 2021 296 KB PDF
    • FOMC: still viewing price pressure as transitory, but wavering.
    • The household sector: robust financial positions.