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

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2026

2025

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  • Euro wrap-up

    Euro wrap-up

    25 June 2026 284 KB PDF
    • Bunds made modest gains as German and French consumer surveys suggested that household purchase intentions remained weak despite a decline in inflation expectations.
    • Longer-dated Gilts underperformed on a quiet day for UK economic news.
  • Euro wrap-up

    Euro wrap-up

    24 June 2026 262 KB PDF
    • Bunds followed the global trend higher as the oil price maintained a downwards trend, while the German ifo survey pointed to soft GDP growth in Q2 despite further signs of stabilisation in June.
    • Gilts also made gains on a quiet day for UK economic data.
  • Euro wrap-up

    Euro wrap-up

    23 June 2026 299 KB PDF
    • Bunds followed the global trend higher while the flash euro area PMIs signalled a moderation in price pressures in June, while the activity indices recovered slightly despite a further weakening in Germany.
    • Gilts outperformed as the flash UK PMIs flagged softer activity and prices pressures.
  • Euro wrap-up

    Euro wrap-up

    19 June 2026 343 KB PDF
    • Bunds followed the global trend lower as talks between the US and Iran were delayed, while German PPI inflation rose to a 3-year high.
    • While there were no surprises to the Makerfield by-election, Gilts underperformed as UK public sector net borrowing and retail sales rose more than expected in May.
  • Euro wrap-up

    Euro wrap-up

    18 June 2026 354 KB PDF
    • Bunds made modest losses while euro area construction data pointed to growth in Q2 buoyed by the ongoing uptrend in infrastructure.
    • While the MPC kept Bank Rate unchanged and BoE staff revised down their near-term inflation outlook, Gilts underperformed at the short end.
  • Euro wrap-up

    Euro wrap-up

    17 June 2026 345 KB PDF
    • Shorter dated Bunds followed USTs lower, while euro area core inflation was nudged slightly higher.
    • Shorter dated Gilts made gains following a downside surprise to UK inflation.
  • US Data Review

    US Data Review

    17 June 2026 223 KB PDF
    • Retail sales: firm performance amid elevated gasoline prices, although strength expected to ease into Q3
  • US FOMC Review

    US FOMC Review

    17 June 2026 240 KB PDF
    • FOMC decision: in a unanimous decision, target range for the federal funds rate unchanged for the fourth consecutive meeting at 3-1/2 to 3-3/4 percent amid elevated inflation and stable labor-market conditions
    • The statement: a dramatic departure from the previous iteration, providing little in the way of forward guidance