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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  • Issuer Profile

    Issuer Profile

    26 October 2023 392 KB PDF
    • Black Sea Trade and Development Bank
  • US Data Review

    US Data Review

    26 October 2023 289 KB PDF
    • Q3 GDP: robust growth led by consumer spending and inventory investment
    • Inflation gauges: firm increase in the GDP price index, but moderate advance in the core PCE index
  • Euro Wrap-up

    Euro Wrap-up

    25 October 2023 303 KB PDF
    • Bunds followed USTs lower as a German business survey defied expectations of a further decline but remained consistent with unfavourable conditions, while lending to euro area firms and households continued to slow.
    • Gilts also made losses on a day bereft of top-tier UK data.
  • Euro Wrap-up

    Euro Wrap-up

    24 October 2023 344 KB PDF
    • Bunds made gains as the flash euro area PMIs flagged rising recession risks, German consumer confidence fell amid deteriorating income expectations and the ECB bank lending survey signalled a larger than expected decline in loan demand.
    • Gilts also made gains as the flash UK PMIs remained consistent with modest contraction at the start of Q4, while employment declined over the summer.


  • Euro Wrap-up

    Euro Wrap-up

    20 October 2023 342 KB PDF
    • Bunds made gains as German producer price inflation fell to a new record low and German exports to non-EU countries posted the steepest annual drop for more than three years.
    • Gilts also made more modest gains as UK retail sales fell further than expected in Q3 and consumer confidence deteriorated at the start of Q4.
  • US Economic Comment

    US Economic Comment

    20 October 2023 536 KB PDF
    • Q3 GDP: strong performance anticipated
    • Consumer spending, net exports, and inventory investment to drive firm headline
  • Euro Wrap-up

    Euro Wrap-up

    19 October 2023 257 KB PDF
    • Bunds ended the day little changed, while a French survey reported a broad-based deterioration business sentiment at the start of Q4.
    • Despite a quiet day for UK economic news, longer-dated Gilts made modest losses.
  • Euro Wrap-up

    Euro Wrap-up

    18 October 2023 325 KB PDF
    • While the broad-based drop in euro area inflation in September was confirmed and construction output remained on track for a drop in Q3, Bunds followed USTs lower.
    • Gilts underperformed as UK CPI inflation failed to fall in September.