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

    8 January 2021 488 KB PDF
    • Bunds made modest losses as German industrial production and exports maintained their uptrend and euro area unemployment surprisingly fell.
    • Gilts also made modest losses on a quiet end to the week for economic news from the UK.
  • US Data Review

    US Data Review

    7 January 2021 224 KB PDF
    • International Trade: imports outpace exports (again).
    • ISM Services: firm pace of activity.
  • Euro Wrap-up

    Euro Wrap-up

    7 January 2021 383 KB PDF
    • Bunds were largely little changed as euro area inflation was unchanged in December, euro area retail sales in November fell sharply but German factory orders for the same month beat expectations.
    • Gilts followed USTs lower while the UK’s construction PMIs suggested ongoing growth in the sector towards year-end.
  • Euro Wrap-up

    Euro Wrap-up

    6 January 2021 384 KB PDF
    • Bunds made losses despite downside surprises in the latest German and French inflation data.
    • Gilts followed USTs lower despite further weak UK car registration data and a downwards revision to the UK services PMIs.
  • US FOMC Review

    US FOMC Review

    6 January 2021 112 KB PDF
    • FOMC Minutes: some clarity on QE.
  • Euro Wrap-up

    Euro Wrap-up

    5 January 2021 337 KB PDF
    • While Germany’s government was set to announce a tightening and extension of pandemic containment measures, Bunds made losses as German retail sales and labour market data beat expectations.
    • Despite yesterday evening’s confirmation of tighter pandemic containment measures in England, Gilts also made losses as the UK government announced more policy support for affected businesses.
  • US Data Review

    US Data Review

    5 January 2021 152 KB PDF
    • ISM: the manufacturing sector stays on track, big time.


  • US Data Review

    US Data Review

    4 January 2021 155 KB PDF
    • Construction: strong residential activity; a sign of life among state & local governments.