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



  • Euro wrap-up

    Euro wrap-up

    25 July 2022 407 KB PDF
    • Bunds had a mixed performance as a downbeat German ifo business survey suggested that the economy was on the ‘cusp of a recession’ and concerns rose that Russia would temporarily curb gas flows to Germany from Wednesday.
    • Gilts made modest gains as a UK survey signalled a marked slowdown in manufacturing output and orders.
  • Euro Wrap-up

    Euro Wrap-up

    22 July 2022 643 KB PDF
    • Bunds and other euro area government bonds rallied as the flash euro area PMIs for July flagged recession risks.
    • While the UK flash PMIs were not as weak as their euro area counterparts, Gilts also rallied as UK retail sales fell for a fourth successive quarter in Q2.
  • US Economic Comment

    US Economic Comment

    22 July 2022 590 KB PDF
    • FOMC: good progress toward its near-term objective...
    • conditions have tightened and the economy is slowing
    • GDP preview: weak results in Q2, but it’s not a recession (yet)
  • Euro Wrap-up

    Euro Wrap-up

    21 July 2022 393 KB PDF
    • Bunds made losses at the short end but gains further along the curve as the ECB raised rates by 50bps but also agreed a new policy tool to allow it to buy bonds to counter unwarranted spread-widening.
    • BTPs made significant losses as Mario Draghi resigned as Italian Prime Minister and elections were scheduled for September.
    • Gilts followed USTs higher despite a rise in UK public debt interest payments to a record high.
  • Euro wrap-up

    Euro wrap-up

    20 July 2022 597 KB PDF
    • Ahead of this evening’s key vote in the Italian parliament that will determine whether early elections can be avoided, Bunds largely made gains as euro area consumer confidence slumped to a record low while German producer price inflation eased very slightly for the first time in 25 months.
    • Shorter-dated Gilts made losses as UK headline inflation rose to a new 40-year high although the core rate fell for a second successive month.
  • US Data Review

    US Data Review

    20 July 2022 352 KB PDF
    • Existing Home Sales: constrained by mortgage rates and prices
  • Euro wrap-up

    Euro wrap-up

    19 July 2022 578 KB PDF
    • Bunds made losses as reports suggested the ECB will discuss a 50bp rate hike this week and Russia is set to resume flows of gas via the Nord Stream pipeline, while euro area inflation was confirmed at a series high.
    • Gilts made losses as UK job growth picked up but real wages fell at a record pace, while BoE Governor Bailey stated the MPC would discuss a 50bp hike in August and gave guidance on forthcoming BoE Gilt sales and redemptions.
  • US Data Review

    US Data Review

    19 July 2022 348 KB PDF
    • Housing starts: a tumble in single-family activity; multi-family remains firm