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

    26 June 2020 158 KB PDF
    • Personal income: down in May, but still elevated by gov’t support
    • Personal spending: up in May, but still far below pre-virus levels
  • Euro Wrap-up

    Euro Wrap-up

    26 June 2020 510 KB PDF
    • Bunds were little changed as the ECB reported another month of strong growth of lending to non-financial corporations in the euro area.
    • Gilts made modest losses on another quiet day for UK economic news.
  • US Data Review

    US Data Review

    25 June 2020 239 KB PDF
    • International trade in goods: the pandemic hits hard
    • Durable goods orders: manufacturing begins to revive
    • Revised GDP: modest adjustments
  • Euro Wrap-up

    Euro Wrap-up

    25 June 2020 338 KB PDF
    • Bunds made gains despite new German survey results suggesting improved consumer willingness to spend and export expectations.
    • Gilts followed USTs higher as new UK survey results suggested that retailers expect sales to remain weak and that a large share of businesses are cutting investment.
  • Euro Wrap-up

    Euro Wrap-up

    24 June 2020 350 KB PDF
    • While German and French business surveys reported increased optimism about the outlook, Bunds made gains on coronavirus concerns.
    • Gilts followed USTs and Bunds higher on a quiet day for UK economic news.
  • US Data Review

    US Data Review

    23 June 2020 157 KB PDF
    • New home sales: solid gain in May
  • Euro Wrap-up

    Euro Wrap-up

    23 June 2020 257 KB PDF
    • Bunds weakened today as the euro area flash PMIs suggested a stablisation of economic conditions. 
    • Gilts also made losses as the UK flash PMIs similarly exceeded expectations, suggesting a significant easing in the pace of deterioration in the economy.
  • US Economic Comment

    US Economic Comment

    22 June 2020 313 KB PDF
    • Recent economic statistics: a muddled picture, but tilting on the positive side
    • Support from commercial banks: helpful in promoting recovery