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

    8 May 2024 283 KB PDF
    • Bunds made losses as data confirmed firm growth in German manufacturing and construction output in Q1.
    • Longer-dated Gilts followed the global trend lower ahead of the BoE’s policy announcement.
  • Euro wrap-up

    Euro wrap-up

    7 May 2024 294 KB PDF
    • While euro area retail sales figures reported the strongest growth in 18 months, Bunds followed the global trend higher as German factory orders disappointed at the end of Q1.  
    • Despite an upside surprise to the UK construction PMIs, Gilts also made gains as a retail survey suggested that sales growth momentum slowed sharply in April.
  • Euro wrap-up

    Euro wrap-up

    3 May 2024 368 KB PDF
    • Bunds followed USTs higher, while unemployment figures illustrated the ongoing resilience in the euro area’s labour market.
    • Gilts also made gains on a quiet day for top-tier UK releases.
  • Issuer Profile

    Issuer Profile

    3 May 2024 427 KB PDF
    • DZ Bank AG
  • US FOMC Review

    US FOMC Review

    1 May 2024 246 KB PDF
    • FOMC: target range for the federal funds rate unchanged at 5.25 to 5.50 percent; lack of further progress on inflation
    • QT: adjustments to Treasury redemption cap to allow for longer balance sheet runoff
    • Powell press conference: policy well-calibrated to address two-sided risks; incoming data will dictate the path of policy
  • US Data Review

    US Data Review

    1 May 2024 283 KB PDF
    • ISM manufacturing: soft performance in April, with contractions in orders and employment; prices jump
  • Euro wrap-up

    Euro wrap-up

    30 April 2024 318 KB PDF
    • Bunds made losses as euro area core inflation fell less than expected in April and GDP surprised on the upside in Q1.
    • Gilts followed the global trend lower despite a further fall in a survey measure of UK high street inflation.
  • US Data Review

    US Data Review

    30 April 2024 398 KB PDF
    • Employment Cost Index: firm advance in Q1
    • Consumer Confidence: drop in April
    • FHFA House Price Index: notable acceleration in February
    • MNI Chicago PMI: broad-based weakness across subcomponents