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

    9 January 2023 415 KB PDF
    • Bunds made losses as euro area unemployment numbers suggested ongoing resilience in the labour market, while German IP posted modest growth as energy-intensive output stabilised.
    • Gilts underperformed as BoE Chief Economist Pill flagged his concerns about potential risks of persisting inflationary pressures.
  • Euro Wrap-up

    Euro Wrap-up

    6 January 2023 627 KB PDF
    • Euro area govvies followed USTs higher as euro area headline inflation fell to a four-month low, the Commission’s price expectations indices moderated and German factory orders plunged.
    • Gilts also made large gains as the UK construction PMIs signalled the steepest contraction in the sector since May 2020.  
  • US Data Review

    US Data Review

    6 January 2023 200 KB PDF
    • Employment: solid payroll growth; drop in unemployment rate
    • Growth of average earnings slows from brisk underlying average
  • US Data Review

    US Data Review

    6 January 2023 220 KB PDF
    • ISM services: signaling contraction; led by a plunge in new orders
    • Factory orders: softness in manufacturing
  • US Economic Comment

    US Economic Comment

    6 January 2023 394 KB PDF
    • The U.S. labour market: hints of softening, but still tight
    • The U.S. economy: on track (for now)
    • Doubts regarding a 2023 Fed pivot
  • Euro Wrap-up

    Euro Wrap-up

    5 January 2023 499 KB PDF
    • Euro area govvies followed USTs lower even as Italian consumer price inflation and euro area producer goods prices fell.
    • Gilts also made losses as a BoE survey reported a rise in firms’ price and wage expectations.
  • US Data Review

    US Data Review

    5 January 2023 156 KB PDF
    • International trade: a “soft” narrowing in the monthly trade deficit; weak imports outweigh a decline in exports
  • Euro Wrap-up

    Euro Wrap-up

    4 January 2023 485 KB PDF
    • Euro area government bonds rallied as French inflation surprised on the downside and German import prices fell by a record amount.
    • Gilts also made sizeable gains as UK mortgage approvals slumped and a survey suggested that shop price inflation edged lower.