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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2025

2024

  • Euro wrap-up

    Euro wrap-up

    21 August 2024 269 KB PDF
    • Bunds made gains as euro area labour cost growth moderated and the job vacancy rate fell to a three-year low.
    • Gilts also made gains even as UK net public borrowing continued to overshoot the OBR’s forecast.
  • Euro wrap-up

    Euro wrap-up

    20 August 2024 287 KB PDF
    • Bunds made gains even as the final estimates of euro area inflation in July suggested that the disinflation process has significantly slowed and construction output rebounded in June.
    • Gilts underperformed, being little changed on a quiet day for UK economic news.
  • US Economic Comment

    US Economic Comment

    16 August 2024 368 KB PDF
    • Powell at Jackson Hole: next week’s speech to (possibly) provide clarity on the path of interest rates
    • Recent housing data: suggesting constrained residential construction for some time
  • US Data Review

    US Data Review

    15 August 2024 267 KB PDF
    • Retail sales: upside volatility in autos; activity ex-autos on track despite pockets of weakness
    • Unemployment claims: both initial and continuing claims move lower from recent highs
  • US Data Review

    US Data Review

    14 August 2024 235 KB PDF
    • CPI: ongoing moderation in July
  • Euro wrap-up

    Euro wrap-up

    2 August 2024 337 KB PDF
    • Euro area government bonds made further gains as data confirmed that French and Italian factory output contracted again in Q2.
    • Gilts followed the global trend higher on a quiet end to the week for UK economic data.
  • US Economic Comment

    US Economic Comment

    2 August 2024 345 KB PDF
    • FOMC: set to move in September; soft data raise market speculation of aggressive action
    • July employment: disappointing payroll growth; upward move in unemployment rate
  • Euro wrap-up

    Euro wrap-up

    1 August 2024 386 KB PDF
    • Bunds followed the global trend higher as euro area unemployment rose in June.
    • Gilts rallied across the curve as the BoE’s MPC voted 5-4 to cut Bank Rate and continued to forecast that inflation is likely to decline sustainably below target before the end of its projection horizon.