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

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  • Euro wrap-up

    Euro wrap-up

    28 August 2024 241 KB PDF
    • While French consumer confidence improved, Bunds made gains as euro area bank lending remained subdued and a survey suggested that German firms are increasingly looking to cut headcount.
    • Gilts were little changed on a quiet day for UK economic news.
  • Euro wrap-up

    Euro wrap-up

    27 August 2024 272 KB PDF
    • Bunds followed USTs lower despite a deterioration in German consumer confidence and confirmation that German consumption and investment were very weak in Q2.
    • Gilts also made losses even as a survey signalled deflationary pressures on the UK high street.
  • Euro wrap-up

    Euro wrap-up

    23 August 2024 370 KB PDF
    • Bunds followed USTs higher while a French business survey signalled a modest pickup in economic activity in August and an ECB survey suggested that euro area consumers’ medium-term inflation expectations have edged slightly higher.
    • Gilts also made gains while UK consumer confidence levelled off and BoE Governor Bailey suggested that inflation persistence risks had diminished. 
  • Euro wrap-up

    Euro wrap-up

    22 August 2024 300 KB PDF
    • While euro area negotiated wage growth moderated and consumer confidence softened slightly, Bunds made losses as the flash PMIs pointed to a slight pickup in economic activity in August thanks not least to the Paris Olympics.
    • Gilts also made losses as the UK flash PMIs surprised on the upside to point to a pickup in growth momentum.
  • 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