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

    6 September 2021 418 KB PDF
    • Bunds were little changed as German factory orders data surprised on the upside but the euro area construction PMIs signalled a fall in activity.
    • Gilts made gains as new BoE MPC member Mann noted structural changes that suggest she is not overly concerned about upside risks to inflation while the UK construction PMIs indicated an easing of growth in the sector.
  • US Data Review

    US Data Review

    3 September 2021 223 KB PDF
    • Employment: hesitancy in hiring.
    • ISM services: off moderately from a record level; still elevated.
  • Euro Wrap-up

    Euro Wrap-up

    3 September 2021 571 KB PDF
    • Bunds made losses despite some weaker data for euro area retail sales, and German car production and sales, and downward revisions to the euro area services PMIs.  
    • Gilts also made losses despite a notable weakening in the UK services PMIs.
  • Euro Wrap-up

    Euro Wrap-up

    2 September 2021 409 KB PDF
    • Bunds made modest gains while the SPD maintained a lead in the latest German election poll and euro area producer price inflation rose to a multi-decade high.
    • Gilts also made modest gains on a quiet day for UK economic news.
  • US Data Review

    US Data Review

    2 September 2021 391 KB PDF
    • International trade: strong goods exports; Olympic-related weakness in services.
    • Factory orders: manufacturing in track.
  • US Data Review

    US Data Review

    1 September 2021 330 KB PDF
    • ISM: strong orders and production; employment lags; improvement in supply chains.
    • Construction: modest increase led by residential; business & government remain soft.
  • Euro Wrap-up

    Euro Wrap-up

    1 September 2021 599 KB PDF
    • Bunds made modest further losses at the long end of the curve as euro area unemployment continued to decline but German retail sales fell sharply at the start of Q3.
    • Gilts made gains as a further strong increase in UK house prices contrasted with a subdued survey of high street prices.
  • Euro wrap-up

    Euro wrap-up

    31 August 2021 514 KB PDF
    • Bunds made notable losses as euro area flash inflation in August surprised on the upside and ECB hawks called for asset purchases to be pared back.
    • Despite some weak bank lending data, Gilts also made losses as a UK business survey suggested economic optimism was at its strongest for four years.