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

    24 September 2020 442 KB PDF
    • While euro area stocks fell and BTPs made losses, Bunds were little changed as the latest German and French business surveys suggested that economic recovery in the euro area continues.
    • Gilts were also little changed as the UK Government announced more support for jobs and businesses while a survey suggested ongoing growth in retail sales.
  • Euro wrap-up

    Euro wrap-up

    23 September 2020 351 KB PDF
    • Bunds ended the day little changed but periphery bonds made further gains, as the flash euro area PMIs reported a significant loss of momentum in the services sector.
    • As the UK Government signalled new support for the labour market, Gilts made losses while the flash UK PMIs pointed to a moderation of economic growth.
  • Euro wrap-up

    Euro wrap-up

    22 September 2020 366 KB PDF
    • Bunds made losses as a survey suggested ongoing gradual improvement in euro area consumer confidence, but BTPs rose as the outcomes of a referendum and regional elections reduced near-term Italian political risks.
    • Gilts made losses, particularly at the short end of the curve, as BoE Governor Bailey downplayed the likelihood of a near-term move to negative rates.
  • US Data Review

    US Data Review

    22 September 2020 157 KB PDF
    • Existing home sales: More vigour
  • US Economic Comment

    US Economic Comment

    21 September 2020 258 KB PDF
    • Fed forward guidance: a closer look
    • Quantitative easing: more to come, across the maturity spectrum
  • Euro Wrap-up

    Euro Wrap-up

    18 September 2020 501 KB PDF
    • Bunds were little changed while data showed a modest easing in the pace of decline of German producer prices.
    • Gilts were also little changed despite a further increase in UK retail sales.
  • US Data Review

    US Data Review

    17 September 2020 154 KB PDF
    • Housing starts: downside volatility in multi-family; solid results in single family
  • Euro Wrap-up

    Euro Wrap-up

    17 September 2020 353 KB PDF
    • Bunds made modest gains as the sharp drop in euro area inflation in August was confirmed and the region’s construction and car registration data were predictably subdued.
    • Gilts made gains as the BoE left policy unchanged but maintained preparations for a shift to negative rates should that become appropriate.