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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

  • Euro Wrap-up

    Euro Wrap-up

    5 March 2024 275 KB PDF
    • Bunds followed USTs higher as euro area producer prices fell again and French industrial production data disappointed.
    • Gilts also made gains as a UK retail survey pointed to weak sales in February.
  • Euro Wrap-up

    Euro Wrap-up

    1 March 2024 385 KB PDF
    • Bunds closed little changed on the day as the flash estimates of euro area headline and core inflation in February surprised slightly on the upside but maintained their downtrends.
    • Gilts also ended the day little changed even as the Nationwide UK house price index rose on a year-on-year basis for the first time in 13 months.
  • US Economic Comment

    US Economic Comment

    1 March 2024 525 KB PDF
    • Economic activity: on track in Q1, although off the firm pace in 23-Q4
    • ISM manufacturing: a disappointing read on the factory sector
  • Euro Wrap-up

    Euro Wrap-up

    29 February 2024 290 KB PDF
    • Bunds made gains as the flash February inflation estimates from several euro area member states remained consistent with disinflation while data for German retail sales, jobless claims and underlying negotiated wages all in on the soft side.
    • Gilts also made gains as data showed that UK households again made a net repayment of their housing debt even as new mortgage approvals continued to recover.
  • US Data Review

    US Data Review

    29 February 2024 387 KB PDF
    • PCE price index: high-side reading in January
    • Real consumer spending: likely on track in Q1 despite dip in January
  • Euro Wrap-up

    Euro Wrap-up

    28 February 2024 281 KB PDF
    • Bunds made modest gains as the European Commission’s economic sentiment survey reported a deterioration in business confidence and a moderation in firms’ selling-price expectations.
    • Gilts were mixed on a quiet day for economic news from the UK.
  • Euro wrap-up

    Euro wrap-up

    27 February 2024 299 KB PDF
    • Bunds made modest losses even as German and French consumer confidence remained low and consistent with lacklustre consumer spending, while euro area bank lending remained subdued too.
    • Gilts also followed USTs lower even as a UK survey suggested that shop price inflation fell to its lowest since March 2022.
  • European Banks - Quarterly ESG Update

    European Banks - Quarterly ESG Update

    26 February 2024 572 KB PDF
    • Rate cuts and development of new market segments will support ESG bond market growth in 2024
    • Blue and orange bonds have potential to leave their mark as growth parameters are in place. ESG ratings will soon be more highly regulated and transparent but not necessarily more comparable