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

    15 July 2021 402 KB PDF
    • Gilts made significant losses after two members of the BoE’s MPC made hawkish comments while data showed significant positive momentum in the UK’s labour market.
    • On a quiet day for economic news from the euro area, Bunds followed USTs higher at the longer end of the curve.
  • US Data Review

    US Data Review

    15 July 2021 147 KB PDF
    • Industrial production: auto constrained; moderate elsewhere.
  • Euro Wrap-up

    Euro Wrap-up

    14 July 2021 484 KB PDF
    • Bunds followed gains in the UST market as euro area industrial production figures undershot downbeat expectations.
    • Gilts also followed USTs higher after initially losing ground in the wake of a significant upside surprise to UK consumer price inflation in June.
    • Tomorrow will bring the UK’s latest labour market report and final Italian inflation figures for June.
  • US Data Review

    US Data Review

    13 July 2021 149 KB PDF
    • CPI: more pandemic-related pressure; some stirring elsewhere.
  • Euro wrap-up

    Euro wrap-up

    9 July 2021 606 KB PDF
    • Bunds made modest losses as the account of the ECB’s June policy meeting confirmed broad consensus in favour of maintaining PEPP purchases at a higher pace but also revealed minorities in favour of slower and faster rates.
    • Gilts followed USTs lower despite weaker-than-expected UK GDP data for May.
  • US Economic Comment

    US Economic Comment

    9 July 2021 301 KB PDF
    • A puzzling decline in interest rates
    • American Rescue Plan, recent developments
  • Euro wrap-up

    Euro wrap-up

    8 July 2021 429 KB PDF
    • Bunds made modest gains as the ECB set a symmetric 2% medium-term inflation target and failed to mimic the Fed’s overshooting strategy.
    • Gilts made losses at the short end as surveys pointed to significant momentum in the UK labour market but a likely moderation ahead in the housing market.
  • Euro wrap-up

    Euro wrap-up

    7 July 2021 358 KB PDF
    • Bunds made gains as data reported a drop in German manufacturing due to a plunge in autos output, while the French government flagged concerns of a new fourth wave of Covid-19 caused by the delta variant.
    • Gilts also made gains on a quiet day for economic news from the UK.