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

    15 December 2022 221 KB PDF
    • Retail sales: light spending despite reports of active Black Friday shopping
    • Industrial production: softness in November
  • Euro Wrap-up

    Euro Wrap-up

    14 December 2022 489 KB PDF
    • Shorter-dated Bunds made gains as euro area IP fell more than expected at the start of Q4 as energy-intensive output continued to be aggressively cut back.
    • Shorter-dated Gilts made big gains as UK CPI inflation fell by more than expectations in November, with underlying price pressures easing too.  
  • US FOMC Review

    US FOMC Review

    14 December 2022 204 KB PDF
    • FOMC: some additional tightening, and a still-soft landing (with a few bumps)
  • Euro Wrap-up

    Euro Wrap-up

    13 December 2022 428 KB PDF
    • Bunds followed USTs higher, while German inflation was confirmed to have declined in November and an investor survey suggested that inflation expectations fell sharply in December.
    • Gilts made losses as underlying UK wage growth accelerated in October amid a still very tight labour market.
  • US Data Review

    US Data Review

    13 December 2022 276 KB PDF
    • CPI: discounting in key areas restrained inflation in November


  • Euro Wrap-up

    Euro Wrap-up

    12 December 2022 375 KB PDF
    • Gilts made losses as the rebound in UK GDP in October was a touch firmer than expected, albeit still suggesting that the economy is probably in recession.
    • Bunds made modest losses on a quiet day for euro area economic data releases.
  • Euro Wrap-up

    Euro Wrap-up

    9 December 2022 816 KB PDF
    • Bunds made sizeable losses as the ECB announced that banks will significantly increase their TLTRO repayments this month, while reports suggested that ECB hawks might push for an early start to QT in return for a slowing in the pace of rate hikes next week.   
    • Gilts also made losses as the BoE’s Inflation Attitudes Survey suggested an uptick in households’ medium-term inflation expectations.
  • US Data Review

    US Data Review

    9 December 2022 157 KB PDF
    • PPI: decelerating, but still problematic