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

    28 February 2022 152 KB PDF
    • International trade in goods: surging imports, wider deficit.
  • Euro Wrap-up

    Euro Wrap-up

    28 February 2022 462 KB PDF
    • While Spanish and Portuguese inflation data again surprised on the upside, euro area government bonds rallied as the Ukraine conflict persisted, sanctions generated financial instability in Russia, and ECB policymakers flagged concerns about the risks to the outlook.
    • Gilts also rallied despite another upbeat survey of UK businesses.
  • US Data Review

    US Data Review

    25 February 2022 222 KB PDF
    • Income, consumption, prices: no letup on inflation; consumer spending firm.
    • Durable goods orders: a jump in nondefense aircraft bookings; respectable elsewhere.
  • Euro Wrap-up

    Euro Wrap-up

    25 February 2022 626 KB PDF
    • Euro area government bonds made losses as French inflation data exceeded expectations and German GDP was revised up, while the ECB’s initial estimates of the possible impact of the Ukraine conflict on euro area economic activity was reported.
    • Gilts rallied at the short end of the curve as UK consumer confidence fell sharply.
  • US Economic Comment

    US Economic Comment

    25 February 2022 353 KB PDF
    • U.S. economy: on track despite Omicron.
    • Inflation and growth risks from the Russia-Ukraine situation.
  • US Data Review

    US Data Review

    24 February 2022 242 KB PDF
    • Revised GDP: slight upward adjustment to an already firm pace.
    • New home sales: a partial give-back to strong gains in November and December.
  • Euro Wrap-up

    Euro Wrap-up

    24 February 2022 423 KB PDF
    • While wholesale energy prices leapt, Bunds made gains and BTPs outperformed as Russia’s invasion of Ukraine raised the prospect of a slower phasing out of ECB monetary policy stimulus than had been anticipated.
    • While a survey pointed to growth in UK retail sales in February, Gilts also made gains.
  • Euro Wrap-up

    Euro Wrap-up

    23 February 2022 427 KB PDF
    • Bunds made losses at the short end of the curve, but made gains at the long end, as euro area inflation was confirmed at a series high but German consumer confidence deteriorated to a nine-month low.
    • Gilts made gains at the short end as dovish BoE MPC member Sylvia Tenreyro said that “only a small amount of policy tightening” is required.