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


Category Clear
Archive Reset



  • US Data Review

    US Data Review

    10 June 2022 238 KB PDF
    • Consumer prices: broad-based pressure


  • US Economic Comment

    US Economic Comment

    10 June 2022 309 KB PDF
    • FOMC preview: suddenly interesting
    • The uncertain effects of QT
    • Inflation weighs on consumer attitudes
  • Euro Wrap-up

    Euro Wrap-up

    9 June 2022 542 KB PDF
    • Bunds sold off and BTPs significantly underperformed as the ECB pre-committed to a 25bps rate hike in July and signalled the strong likelihood of a 50bps hike in September and further tightening thereafter.
    • Gilts also made significant losses but a UK housing survey suggested a moderation of momentum in the market.
  • Euro Wrap-up

    Euro Wrap-up

    8 June 2022 319 KB PDF
    • Bunds reversed yesterday’s gains as euro area GDP growth in Q1 was revised up and German industrial production registered positive growth in April.
    • Gilts also made losses as the UK construction PMIs signalled ongoing growth, albeit moderating, in the sector.
  • Euro Wrap-up

    Euro Wrap-up

    7 June 2022 454 KB PDF
    • Bunds made gains and BTPs rallied as German new factory orders fell for a third successive month in April to a fifteen-month low.
    • After 148 of Johnson’s MPs voted against him in yesterday’s no-confidence vote, Gilts also made gains as a BRC survey signalled weak UK retail sales in May but the services PMIs were revised up.
  • US Economic Comment

    US Economic Comment

    3 June 2022 312 KB PDF
    • Labour market: losing vigor, but still strong
    • The Fed case for soft landing: interesting, but not entirely convincing
  • Euro Wrap-up

    Euro Wrap-up

    1 June 2022 641 KB PDF
    • As speculation about the next steps for ECB policy persisted, Bunds followed other major government bond markets lower despite a sharp drop in German retail sales.
    • Gilts also weakened again following another strong UK shop price survey and bigger-than-expected rise in house prices.
  • Euro Wrap-up

    Euro Wrap-up

    31 May 2022 549 KB PDF
    • Bunds made further big losses, and Southern European bonds underperformed, as the flash estimate of euro area inflation in May rose above 8% adding to risks of aggressive monetary tightening ahead.
    • Gilts also made losses as a UK survey hinted at improved conditions in manufacturing and construction while consumer credit picked up further.