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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  • 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.
  • US Economic Comment

    US Economic Comment

    6 October 2023 513 KB PDF
    • Employment: strong payroll growth in September, albeit with caveats
    • Labor market data keep open the prospect of a hike at the Oct/Nov FOMC meeting
    • Wages: hints of moderation
  • Euro Wrap-up

    Euro Wrap-up

    5 October 2023 291 KB PDF
    • Bunds made gains as data for German goods trade, and French and Spanish IP, as well as a euro area construction sector survey, were all consistent with weak economic momentum.
    • Despite some hints of stickiness in business price and wage expectations, Gilts also made gains as the UK construction PMIs suggested a sudden significant deterioration in conditions in the sector.
  • Euro Wrap-up

    Euro Wrap-up

    4 October 2023 310 KB PDF
    • Bunds made gains as euro area retail sales volumes fell further than expected in August and the region’s final services PMIs for September remained consistent with contraction in Q3.
    • Gilts also largely made gains despite a sizeable upwards revision to the UK services PMI for September.
  • US Data Review

    US Data Review

    2 October 2023 279 KB PDF
    • ISM manufacturing: below 50, but improving; prices contained
  • Euro Wrap-up

    Euro Wrap-up

    2 October 2023 281 KB PDF
    • Bunds followed USTs lower as euro area unemployment fell to a series low in August.
    • Gilts also made significant losses as the Nationwide’s UK house price index stopped falling in September.
  • Euro Wrap-up

    Euro Wrap-up

    29 September 2023 398 KB PDF
    • Bunds rallied as the flash estimates of euro area inflation in September surprised on the downside while the latest German retail sales and French consumer spending data were also soft.
    • Gilts made somewhat smaller gains as the level of UK GDP was revised up again and UK mortgage approvals fell to a six-month low.
  • Euro Wrap-up

    Euro Wrap-up

    28 September 2023 306 KB PDF
    • Bunds made massive losses even as German inflation fell sharply to a two-year low and the Commission’s sentiment indicator slipped further to suggest contraction in euro area GDP in Q3.
    • Gilts made even larger losses despite a quiet day for UK economic news.