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    Daiwa’s coverage of the US economy from our colleagues in New York

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2024

2023

  • US Data Review

    US Data Review

    23 March 2023 156 KB PDF
    • New home sales: a soft performance in early 2023
  • Euro Wrap-up

    Euro Wrap-up

    23 March 2023 240 KB PDF

    Bunds followed the global trend higher, while the Commission’s euro area consumer confidence index paused its recent recovery.

    Gilts also rallied following a relatively dovish 25bps hike from the BoE, as the MPC flagged an improvement in the outlooks for both growth and inflation.

  • Euro Wrap-up

    Euro Wrap-up

    22 March 2023 290 KB PDF
    • Ahead of the FOMC decision, Bunds made losses as a speech by ECB President Lagarde pointed to the likelihood of further tightening in May.
    • Gilts made larger losses as UK inflation surprised on the upside, with record increases in food, services and core goods prices for the month of February.
  • US FOMC Review

    US FOMC Review

    22 March 2023 251 KB PDF
    • FOMC: focused on inflation, but mindful of banking risks
  • Euro wrap-up

    Euro wrap-up

    21 March 2023 268 KB PDF
    • Bunds followed the global trend lower, even as today’s German ZEW survey suggested a loss of recovery momentum in March and diminished optimism regarding the outlook.
    • Gilts also made modest losses on a quiet day for UK top-tier economic news.
  • Euro Wrap-up

    Euro Wrap-up

    17 March 2023 524 KB PDF
    • Despite a marked acceleration in euro area labour costs, Bunds followed USTs sharply higher as concerns about banking sector stability persisted.
    • Gilts also rallied while a BoE survey reported a notable decline in household inflation expectations.
  • US Economic Comment

    US Economic Comment

    17 March 2023 283 KB PDF
    • FOMC preview: another hike despite bank uncertainty
  • Euro Wrap-up

    Euro Wrap-up

    16 March 2023 268 KB PDF
    • Bunds made sizeable losses as the ECB ignored recent market turmoil to hike its deposit rate by a further 50bps to 3.00%, but the Governing Council offered little guidance on the path ahead.
    • Gilts followed the global trend lower on day bereft of UK economic data.