London & NY Research

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

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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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2026

  • Euro wrap-up

    Euro wrap-up

    15 October 2026 419 KB PDF
    • Bunds followed USTs higher while euro area industrial production data disappointed despite ongoing AI- and defence-related demand.
    • While UK GDP figures beat expectations again, Gilts also made gains.
  • US Data Review

    US Data Review

    15 October 2026 231 KB PDF
    • Retail sales: larger-than-expected advance fueled by higher gasoline prices
  • US Data Review

    US Data Review

    14 October 2026 284 KB PDF
    • CPI: war-driven jump in fuel prices influences hot read in headline; core rises a tick above consensus expectations
  • Euro wrap-up

    Euro wrap-up

    13 October 2026 415 KB PDF
    • Bunds were little changed as German inflation rose to the highest rate since end-2023 as the energy shock intensified, but core inflation held steady.
    • Despite a UK retail survey pointing to subdued sales growth at end-Q3, shorter-dated Gilts made modest losses.
  • European Banks - Quarterly ESG Update (3Q26)

    European Banks - Quarterly ESG Update (3Q26)

    12 October 2026 451 KB PDF
    • Sustainable debt volumes are on course for a record year following strong summer issuance. European activity has been led by FIGs and SSAs, but corporate supply has lagged amid weaker incentives.
    • Adaptation and resilience financing has gained momentum as climate risks increase, supported by improving frameworks and a growing project pipeline supporting climate-resilient infrastructure.
    • The strong primary conditions of the summer have since given way to more volatility and investor caution, with recent credit spread widening putting pressure on greeniums.

     

  • US Economic Comment

    US Economic Comment

    9 October 2026 555 KB PDF
    • FOMC minutes & Waller comments: insights on the September policy meeting and the “signaling option” for forward guidance
    • Inflation expectations: the latest survey data suggest that consumers’ longer-term views remain anchored, although gasoline prices contributed to the erosion of near term assessments
  • Euro wrap-up

    Euro wrap-up

    8 October 2026 498 KB PDF
    • Bund yields followed Brent crude prices higher, while the German economy ministry upwardly revised its growth forecast in 2026 despite another record goods trade deficit with China.
    • While BoE Governor Bailey noted that second-round inflation effects are currently subdued and surveys suggested weakening house price expectations amid tighter credit conditions, Gilts also made losses.
  • Euro wrap-up

    Euro wrap-up

    7 October 2026 340 KB PDF
    • While German industrial production data surprised to the upside on a surge in construction activity, shorter-dated Bunds made gains as investor concerns about France returned to the fore.
    • Gilts made sizeable losses on a quiet day for UK economic news.