London & NY Research

  • JAPAN

    Daiwa Europe’s market-leading research on the Japanese economy.

  • EUROPE

    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

FILTER DOCUMENTS

Category Clear
Archive Reset

2024

2023

Subscribe to RSS feed
  • Euro wrap-up

    Euro wrap-up

    23 April 2024 298 KB PDF
    • While ECB Vice President Luis de Guindos suggested that a rate cut in June is now almost a ‘fait accompli’, Bunds made losses as the flash PMIs suggested a pickup in growth momentum at the start of Q2.
    • Gilts also made losses as the UK flash PMIs pointed to accelerated economic growth momentum and a notable increase in cost pressures in services, while BoE Chief Economist Huw Pill said there is still a ‘reasonable way to go’ before he is ready to support a rate cut.
  • Euro wrap-up

    Euro wrap-up

    22 April 2024 229 KB PDF
    • Bunds followed USTs higher even as euro area consumer confidence rose for a third consecutive month to its highest level since Russia’s invasion of Ukraine.
    • Gilts also made gains on a quiet day for UK economic news.
  • Euro wrap-up

    Euro wrap-up

    19 April 2024 359 KB PDF
    • Bunds made modest losses while today’s German figures showed a slight moderation in producer price deflation.
    • Following a lacklustre UK retail sales report for March, Gilts made gains as BoE Deputy Governor Ramsden judged that risks to the inflation outlook are tilted to the downside and expressed greater confidence that inflation persistence should ease.
  • US Economic Comment

    US Economic Comment

    19 April 2024 538 KB PDF
    • Q1 GDP: a firm performance expected
    • Powell & colleagues: a shift in messaging acknowledging stalled progress on inflation
  • Euro wrap-up

    Euro wrap-up

    17 April 2024 304 KB PDF
    • Bunds largely made modest gains as the detailed euro area inflation data for March suggested that the timing of Easter contributed to the stickiness of services pressures that month.   
    • Longer-dated Gilts also made gains even as UK inflation in March slightly exceeded the BoE’s projection.
  • Euro wrap-up

    Euro wrap-up

    16 April 2024 323 KB PDF
    • Bunds made losses as the ZEW investor survey reinforced expectations that the bottom in Germany’s downturn has been reached, while the euro area trade surplus narrowed on stronger imports.
    • Despite a rise in the UK’s unemployment rate to a six-month high, Gilts made losses as wage momentum picked up and private sector regular pay growth remained above the BoE’s forecast.
  • Euro wrap-up

    Euro wrap-up

    15 April 2024 257 KB PDF
    • Bunds followed USTs lower, while euro area industrial production returned to growth in February, but failed to reverse the decline at the start of the year, suggesting that manufacturing remained a drag on GDP growth in Q1 for a fourth successive quarter.
    • Gilts also made losses on a quiet day for UK economic data.
  • Euro wrap-up

    Euro wrap-up

    12 April 2024 360 KB PDF
    • Bunds followed USTs higher on increased geopolitical risks from the Middle East while detailed German inflation data for March suggested that the persistence in services was in large part related to the timing of Easter.
    • Despite a second successive month of positive UK GDP growth, Gilts also rallied while former Fed Chair Bernanke flagged deficiencies in the BoE’s production and use of its macroeconomic projections.