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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  • US Economic Comment

    US Economic Comment

    31 January 2022 306 KB PDF
    • FOMC: behind the curve, but ready to move aggressively.
    • Inflation developments: more pressure on both prices and wages.
    • U.S. economy: slowdown in Q1 after a brisk Q4.
  • Euro Wrap-up

    Euro Wrap-up

    31 January 2022 478 KB PDF
    • Bunds made notable losses as German inflation significantly exceeded expectations. BTPs outperformed after Italian President Mattarella was re-appointed for a second term to enable Draghi to remain as Prime Minister.
    • As the “Party-gate” political saga appeared set to drag on with little near-term consequence, Gilts also made losses, while a UK survey suggested that business sentiment was stable despite omicron and price concerns.
  • Euro Wrap-up

    Euro Wrap-up

    28 January 2022 646 KB PDF
    • Bunds made modest losses even as data confirmed a contraction in German GDP in Q4 and the Commission’s economic sentiment indicator deteriorated more than expected.
    • Gilts also made modest losses at the long end of the curve on a quiet end to the week for UK economic news.
  • US Data Review

    US Data Review

    27 January 2022 233 KB PDF
    • Q4 U.S. GDP: surge led by inventory investment; consumption also supportive.
    • Durable goods orders: down-side volatility in aircraft; moderate results elsewhere.
  • Euro Wrap-up

    Euro Wrap-up

    27 January 2022 545 KB PDF
    • Following overnight moves in USTs, Bunds made losses while German consumer confidence was broadly stable.
    • Gilts also made losses despite downbeat surveys of UK retail sales and business turnover.
  • US Data Review

    US Data Review

    26 January 2022 220 KB PDF
    • International trade in goods: import surge outweighs firm exports.
    • New home sales: surge in December suggests revival.
  • US FOMC Review

    US FOMC Review

    26 January 2022 193 KB PDF
    • FOMC: ready to tighten, perhaps aggressively
  • Euro wrap-up

    Euro wrap-up

    25 January 2022 514 KB PDF
    • Bunds made losses as euro area equities fared better, while the latest ifo survey suggested that German firms were more upbeat about the outlook at the start of the year.
    • Gilts also made losses despite a slightly softer UK manufacturing survey and some lower-than-expected public borrowing numbers.