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

    5 March 2021 225 KB PDF
    • Employment: respectable job growth; unemployment inches lower.
    • International trade: modest widening in the deficit.
  • Euro Wrap-up

    Euro Wrap-up

    5 March 2021 503 KB PDF
    • Bunds largely made further modest losses while data showed that German factory orders and French goods trade grew at the start of the year.
    • Gilts made losses while the aforementioned French trade data illustrated the hit to UK exports in January from the end of the Brexit transition.
  • At a Glance: Supranational and Agency Issuers

    At a Glance: Supranational and Agency Issuers

    4 March 2021 884 KB PDF
  • Euro Wrap-up

    Euro Wrap-up

    4 March 2021 346 KB PDF
    • Bunds made gains as euro area data confirmed a drop in retail sales at the start of the year, ongoing weakness in construction but continued stability in the labour market.
    • Gilts also made gains while UK car registrations fell to their weakest February level since 1959 but construction activity picked up.
  • Euro Wrap-up

    Euro Wrap-up

    3 March 2021 382 KB PDF
    • Euro area government bonds followed USTs lower as the February services and composite PMIs were revised up but German car production and sales data disappointed.
    • Gilts made losses as the UK Government announced near-term fiscal support for the economy before tightening in two years’ time, and gave an environmental objective for the BoE’s monetary policy.
  • US Data Review

    US Data Review

    3 March 2021 155 KB PDF
    • ISM services: moderate easing from firm readings.
  • Euro Wrap-up

    Euro Wrap-up

    2 March 2021 353 KB PDF
    • While ECB Executive Board member Panetta called for action to resist a steepening of the yield curve, the latest German economic data were soft, and Chancellor Merkel was reportedly seeking a further extension of most current German lockdown restrictions, Bunds made only modest gains.
    • Gilts made significant gains ahead of tomorrow’s UK Budget statement.
  • US Economic Comment

    US Economic Comment

    1 March 2021 311 KB PDF
    • U.S. economy: on track in Q1.
    • Fiscal and monetary support: perhaps excessive.