London & NY Research


    Daiwa Europe’s market-leading research on the Japanese economy.


    Daiwa’s research coverage of the euro area and UK economies.

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    Daiwa’s coverage of the US economy from our colleagues in New York


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  • Euro wrap-up

    Euro wrap-up

    17 October 2023 297 KB PDF
    • Bunds followed USTs lower, while a German investor sentiment survey pointed to some stabilisation in the outlook.
    • Longer-dated Gilts also made losses as UK labour market figures reported a decline in payrolls and a very gradual moderation in wage pressures.


  • Euro Wrap-up

    Euro Wrap-up

    13 October 2023 317 KB PDF
    • Bunds followed USTs higher, while euro area industrial production remained on track for a fourth consecutive quarterly decline in Q3 despite an increase in August.
    • Gilts also made gains on a quiet day for UK economic releases.
  • US Economic Comment

    US Economic Comment

    13 October 2023 515 KB PDF
    • A firm CPI reading in September suggests more work ahead for the Fed
    • Financial conditions: signs of tightening for consumers and small businesses
  • Euro Wrap-up

    Euro Wrap-up

    12 October 2023 289 KB PDF
    • Bunds followed USTs lower even as the account of the Governing Council’s September policy meeting suggested that the ECB tightening cycle is now highly likely to be at an end.
    • While UK GDP data for August met expectations to be consistent with stagnation in Q3, and surveys reported a continued tightening of credit conditions and weakening in the housing market, Gilts also made losses.
  • Euro Wrap-up

    Euro Wrap-up

    11 October 2023 269 KB PDF
    • While an ECB survey reported a pickup in household inflation expectations, Bunds made gains at the longer end of the curve as the Middle East conflict intensified and final German inflation data for September confirmed a significant and broad-based easing of price pressures.
    • Gilts outperformed as a survey suggested that UK wage pressures are moderating.

  • US FOMC Review

    US FOMC Review

    11 October 2023 196 KB PDF
    • FOMC: September minutes indicated that restrictive policy will be required for some time
    • That said, comments by Fed officials this week suggest that recent developments could eliminate the need for additional rate hikes at upcoming meetings
  • Euro Wrap-up

    Euro Wrap-up

    9 October 2023 257 KB PDF
    • Bunds rallied as risk appetite fell following the attacks by Hamas on Israel, and German industrial production fell for a fourth successive month.
    • Gilts also made significant gains on a quiet day for UK economic news.
  • Euro Wrap-up

    Euro Wrap-up

    6 October 2023 303 KB PDF
    • Longer-dated Bunds followed USTs lower as German factory orders beat expectations.
    • Gilts also made losses on a quiet end to the week for UK economic news.