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

  • Euro wrap-up

    Euro wrap-up

    13 May 2026 350 KB PDF
    • Bunds ended the day little changed amid mixed ECB commentary about a potential June rate hike, confirmation of soft euro area GDP and employment growth and a sharp contraction in IP in Q1.  
    • Gilts partially reversed recent losses, despite rumours of an imminent challenge to Starmer’s leadership.
  • Euro wrap-up

    Euro wrap-up

    12 May 2026 443 KB PDF
    • Bunds followed the global trend lower, while an investor survey flagged ongoing challenges to Germany’s near-term economic outlook.
    • Gilts underperformed as markets reacted to increasing calls for UK PM Starmer to step down and the prospects of looser fiscal policy under his potential successors.
  • US Data Review

    US Data Review

    12 May 2026 205 KB PDF
    • CPI: Another energy-led spike in the headline; brisk advance in core partly reflected a technical adjustment to shelter components
  • US Data Review

    US Data Review

    11 May 2026 200 KB PDF
    • Existing home sales: activity up slightly in April
  • Euro wrap-up

    Euro wrap-up

    8 May 2026 385 KB PDF
    • While German IP data disappointed expectations, Bunds were little changed as ECB Governing Council members reminded that a rate hike will be under discussion at the next monetary policy meeting in June.
    • Gilts made gains as UK Prime Minister Starmer insisted he has no intention of resigning despite a predictably poor showing by his Labour party in elections in England, Wales and Scotland.
  • Euro wrap-up

    Euro wrap-up

    7 May 2026 357 KB PDF
    • Bunds ended the day little changed while German factory orders beat expectations but euro area retail sales volumes softened and the construction PMIs flagged downside risks to near-term growth.
    • As markets await the outcome of today’s local elections in England and national parliament elections in Scotland and Wales, Gilts also made very modest gains as the UK construction PMIs pointed to a slump in activity.
  • Euro wrap-up

    Euro wrap-up

    6 May 2026 332 KB PDF
    • While euro area producer prices rose the most since mid-2022 and the PMIs pointed to more intense cost pressures, Bunds followed the global trend higher as oil prices fell on hopes of a US-Iran deal.
    • Gilts also made gains despite signals from the final UK PMIs of a pickup in growth momentum and higher business costs at the start of Q2.
  • US Data Review

    US Data Review

    5 May 2026 202 KB PDF
    • ISM services: dip in composite led by sizable decline in new orders, though still indicating expansion for the 22nd consecutive month; prices remain elevated