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 FOMC Review

    US FOMC Review

    3 May 2023 116 KB PDF

    FOMC: shift to data-dependent approach; still attentive to inflation risks

  • Euro wrap-up

    Euro wrap-up

    2 May 2023 363 KB PDF
    • Bunds followed USTs higher while euro area core inflation edged lower and the ECB’s bank lending survey reported a significant tightening of credit conditions.
    • Gilts also made gains as a survey suggested a slight softening of UK shop-price inflation while UK home prices unexpectedly rose for the first time in eight months.
  • Euro Wrap-up

    Euro Wrap-up

    28 April 2023 635 KB PDF
    • Bunds rallied as euro area economic output edged up in Q1 but Germany’s GDP failed to grow while its inflation declined again.
    • Gilts also made gains on a quiet day for economic news from the UK.
  • US Economic Comment

    US Economic Comment

    28 April 2023 310 KB PDF

    FOMC preview: hike of 25 basis points anticipated, spurred by latest inflation data

  • US Data Review

    US Data Review

    27 April 2023 157 KB PDF
    • Q1 GDP: headline restrained by drag from inventory investment; solid final demand
    • Inflation remained brisk
  • Euro Wrap-up

    Euro Wrap-up

    27 April 2023 556 KB PDF
    • Bunds followed USTs lower, even as the European Commission’s economic survey implied a more muted economic recovery than the PMIs had done and the price expectations moderated further.  
    • Gilts also made losses on a quiet day for UK economic data.
  • US Data Review

    US Data Review

    26 April 2023 227 KB PDF
    • Durable goods orders: jump in headline driven by volatility in aircraft; booking ex. transportation moving sideways
    • International trade: surprise narrowing in the goods deficit for March
  • Euro wrap-up

    Euro wrap-up

    26 April 2023 265 KB PDF
    • Bunds made significant gains at the short end of the curve despite a further pickup in German consumer confidence.
    • Gilts made losses as a survey pointed to a firm rebound in UK retail sales in April.