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 Data Review

    US Data Review

    6 January 2023 220 KB PDF
    • ISM services: signaling contraction; led by a plunge in new orders
    • Factory orders: softness in manufacturing
  • US Economic Comment

    US Economic Comment

    6 January 2023 394 KB PDF
    • The U.S. labour market: hints of softening, but still tight
    • The U.S. economy: on track (for now)
    • Doubts regarding a 2023 Fed pivot
  • Euro Wrap-up

    Euro Wrap-up

    5 January 2023 499 KB PDF
    • Euro area govvies followed USTs lower even as Italian consumer price inflation and euro area producer goods prices fell.
    • Gilts also made losses as a BoE survey reported a rise in firms’ price and wage expectations.
  • US Data Review

    US Data Review

    5 January 2023 156 KB PDF
    • International trade: a “soft” narrowing in the monthly trade deficit; weak imports outweigh a decline in exports
  • Euro Wrap-up

    Euro Wrap-up

    4 January 2023 485 KB PDF
    • Euro area government bonds rallied as French inflation surprised on the downside and German import prices fell by a record amount.
    • Gilts also made sizeable gains as UK mortgage approvals slumped and a survey suggested that shop price inflation edged lower.
  • US FOMC Review

    US FOMC Review

    4 January 2023 114 KB PDF
    • FOMC minutes: committed to 2 percent inflation
  • Euro Wrap-up

    Euro Wrap-up

    3 January 2023 498 KB PDF
    • Euro area government bonds made gains as the flash estimates of German inflation in December fell much further than expected and surveys indicated a further moderation in supply pressures.
    • Longer-dated Gilts also made gains as the final UK manufacturing PMIs for December were revised up modestly from the very weak preliminary estimates.
  • US Data Review

    US Data Review

    22 December 2022 159 KB PDF

    Data surprises: firm Q3 GDP; weak leading indicators