London & NY Research

  • JAPAN

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

  • EUROPE

    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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2026

2025

  • Euro wrap-up

    Euro wrap-up

    3 July 2025 362 KB PDF
    • While the account of the ECB June policy meeting showed that a few Governing Council members would have been content not to have cut rates, Bunds followed Gilts higher.
    • Despite a sizeable upwards revision to the UK PMIs and a sell-off in USTs, Gilts partly reversed Wednesday’s losses after Prime Minister Starmer reaffirmed his support for Chancellor Reeves.
  • US Economic Comment

    US Economic Comment

    3 July 2025 365 KB PDF
    • The labor market: solid topline results in June, although a slowdown in private-sector hiring raises some concern; the unemployment rate remained low
    • June PMIs: suggestive of ongoing economic expansion
  • Euro wrap-up

    Euro wrap-up

    1 July 2025 334 KB PDF
    • While euro area inflation ticked higher in June, Bunds made gains as several ECB Governing Council members flagged concerns about the strong euro.
    • Gilts also made gains as UK house prices fell for the third month in four.
  • US Data Review

    US Data Review

    1 July 2025 197 KB PDF
    • ISM manufacturing: slight improvement in June though still signaling contraction; prices remain elevated