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

    24 February 2021 153 KB PDF
    • New home sales: solid gain from upward revised level.
  • Euro Wrap-up

    Euro Wrap-up

    24 February 2021 337 KB PDF
    • Bunds made losses while German Q4 GDP was revised up a touch despite a larger-than-expected drop in private consumption.
    • Gilts made losses at the long end of the curve while BoE Deputy Governor Broadbent stated that it would “take significant news” for the BoE to alter the pace of Gilt purchases.
  • Euro Wrap-up

    Euro Wrap-up

    23 February 2021 363 KB PDF
    • Bunds and other euro area government bonds made losses as the record jump in euro area inflation in January was confirmed.
    • Gilts also made further losses as UK average pay growth accelerated to a twelve-year high.
  • US Economic Comment

    US Economic Comment

    22 February 2021 333 KB PDF
    • FOMC: expecting restrained inflation; hoping for the best on asset prices.
    • FOMC: small chance of policy tweaks in coming weeks.
  • European Banks - Credit Update

    European Banks - Credit Update

    22 February 2021 939 KB PDF
    • Government decarbonisation policies and stimulus programmes in conjunction with regulatory refinements in sustainable finance will create conducive conditions for increased ESG funding.
    • Strong week for FIG primary issuance with five green bond issues and Intesa’s inaugural SNP.
    • Secondary market spreads slightly tighter on the back of Draghi’s confirmation as Italian Prime Minister and despite rising sovereign yields.
  • Euro Wrap-up

    Euro Wrap-up

    22 February 2021 333 KB PDF
    • While the latest ifo survey suggested improvement in Germany’s economy, Bunds made gains as Christine Lagarde stated publicly that “the ECB is closely monitoring the evolution of longer-term nominal bond yields”.
    • Gilts also made gains as UK PM Johnson announced plans for a gradual reopening of the UK economy over the coming three months.
  • US Data Review

    US Data Review

    19 February 2021 155 KB PDF
    • Existing home sales: continued robust performance.
  • Euro Wrap-up

    Euro Wrap-up

    19 February 2021 537 KB PDF
    • With the exception of the BTPs, euro area government bonds made losses as the flash euro area PMIs highlighted ongoing growth in manufacturing but contraction in services.
    • Gilts made significant further losses despite a sharp drop in UK retail sales and subdued flash UK PMIs.