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    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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2024

2023

  • US Data Review

    US Data Review

    14 March 2024 408 KB PDF
    • Retail sales: lackluster performance in February after weather-related disruptions in the prior month
    • PPI: pressure in February led by a jump in energy prices
  • Euro Wrap-up

    Euro Wrap-up

    13 March 2024 322 KB PDF
    • Bunds made losses even as euro area industrial production surprised to the downside in January amid weakness in the capital goods sector.
    • Gilts also made losses as UK GDP returned to modest positive growth at the start of 2024, albeit maintaining a broadly sideways trend.
  • Euro Wrap-up

    Euro Wrap-up

    12 March 2024 291 KB PDF
    • Bunds followed USTs lower as German core HICP inflation edged slightly higher in February, while headline inflation fell further on lower food inflation.  
    • Gilts made gains amid signs of a less tight UK labour market, with unemployment and redundancies up, employment and job vacancies lower, and wage growth softer too. 
  • US Data Review

    US Data Review

    12 March 2024 355 KB PDF
    • CPI: ongoing pressure in core services
  • Euro Wrap-up

    Euro Wrap-up

    8 March 2024 336 KB PDF
    • Despite a pickup in German industrial production, Bunds made gains as euro area national accounts figures confirmed that wages and unit labour costs growth slowed in Q4.
    • Gilts also made modest gains on a quiet day for UK economic news. 
  • US Economic Comment

    US Economic Comment

    8 March 2024 336 KB PDF
    • January employment: solid but previous data revised notably lower
    • Average hourly earnings: moderation after a weather-influenced jump in January
    • Other employment data: suggestive of easing in previously tight labor market conditions
  • Euro Wrap-up

    Euro Wrap-up

    7 March 2024 297 KB PDF
    • Bunds made gains as the ECB revised down significantly its inflation outlook and Lagarde signalled that the June meeting was live for a first rate cut.
    • Gilts made losses as a BoE survey reported little improvement in firms’ inflation expectations, while wage growth was also expected to remain above rates consistent with inflation returning to target.
  • Euro Wrap-up

    Euro Wrap-up

    6 March 2024 284 KB PDF
    • Bunds were little changed on the day as euro area retail sales remained subdued and a construction sector survey remained consistent with contraction.
    • Gilts made gains as the UK Chancellor resisted political pressures and announced a relatively modest fiscal easing that should have little impact on the BoE’s forthcoming monetary policy decisions.