London & NY Research


    Daiwa Europe’s market-leading research on the Japanese economy.


    Daiwa’s research coverage of the euro area and UK economies.

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


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  • Euro wrap-up

    Euro wrap-up

    22 April 2024 229 KB PDF
    • Bunds followed USTs higher even as euro area consumer confidence rose for a third consecutive month to its highest level since Russia’s invasion of Ukraine.
    • Gilts also made gains on a quiet day for UK economic news.
  • Euro wrap-up

    Euro wrap-up

    19 April 2024 359 KB PDF
    • Bunds made modest losses while today’s German figures showed a slight moderation in producer price deflation.
    • Following a lacklustre UK retail sales report for March, Gilts made gains as BoE Deputy Governor Ramsden judged that risks to the inflation outlook are tilted to the downside and expressed greater confidence that inflation persistence should ease.
  • US Economic Comment

    US Economic Comment

    19 April 2024 538 KB PDF
    • Q1 GDP: a firm performance expected
    • Powell & colleagues: a shift in messaging acknowledging stalled progress on inflation
  • Euro wrap-up

    Euro wrap-up

    17 April 2024 304 KB PDF
    • Bunds largely made modest gains as the detailed euro area inflation data for March suggested that the timing of Easter contributed to the stickiness of services pressures that month.   
    • Longer-dated Gilts also made gains even as UK inflation in March slightly exceeded the BoE’s projection.
  • Euro wrap-up

    Euro wrap-up

    16 April 2024 323 KB PDF
    • Bunds made losses as the ZEW investor survey reinforced expectations that the bottom in Germany’s downturn has been reached, while the euro area trade surplus narrowed on stronger imports.
    • Despite a rise in the UK’s unemployment rate to a six-month high, Gilts made losses as wage momentum picked up and private sector regular pay growth remained above the BoE’s forecast.
  • US Data Review

    US Data Review

    16 April 2024 369 KB PDF
    • Housing starts: sharp decline in March
    • Industrial production: solid performance in manufacturing, led by a jump in auto component
  • Euro wrap-up

    Euro wrap-up

    15 April 2024 257 KB PDF
    • Bunds followed USTs lower, while euro area industrial production returned to growth in February, but failed to reverse the decline at the start of the year, suggesting that manufacturing remained a drag on GDP growth in Q1 for a fourth successive quarter.
    • Gilts also made losses on a quiet day for UK economic data.
  • US Data Review

    US Data Review

    15 April 2024 288 KB PDF
    • Retail sales: consumers spent actively in March