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

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  • Euro wrap-up

    Euro wrap-up

    23 January 2026 372 KB PDF
    • Bunds made modest losses while the flash euro area activity and employment PMIs were softer than expected, but the survey’s price indices rose sharply.
    • Gilts underperformed as the UK PMIs, consumer confidence and retail sales data beat expectations.
  • Euro wrap-up

    Euro wrap-up

    22 January 2026 266 KB PDF
    • Shorter-dated Bunds made modest losses as euro area consumer confidence surprisingly rose to an eleven-month high.
    • While UK public borrowing was lower than expected, political speculation surrounding a potential leadership challenge saw longer-dated gilts sell off. 
  • US Data Review

    US Data Review

    22 January 2026 255 KB PDF
    • Revised Q3 GDP: modest upward revision, led by business fixed investment
    • PCE price index: moderate monthly advances for both headline and core in the October/November period, with sideways year-over-year trend
  • Euro wrap-up

    Euro wrap-up

    21 January 2026 289 KB PDF
    • Gilts ended the day little changed while UK inflation ticked higher in December but remained below the BoE’s projection and underlying price pressures remained contained.
    • Bunds made further modest losses on a quiet day for euro area economic news.
  • Euro wrap-up

    Euro wrap-up

    20 January 2026 311 KB PDF
    • Longer-dated Bunds followed JGBs lower while euro area construction output fell in November but remained on track for growth in Q4.
    • Gilts also followed the global trend lower despite a soft UK labour market report signalling the weakest private pay growth in five years. 
  • Euro wrap-up

    Euro wrap-up

    19 January 2026 274 KB PDF
    • Shorter dated Bunds made gains after US President Trumps threatened new tariffs against certain member states and euro area inflation fell back below the 2% target amid a broad-based easing in price pressures.
    • Despite the UK also being threatened with higher US tariffs, Gilts were little changed.
  • Euro wrap-up

    Euro wrap-up

    16 January 2026 325 KB PDF
    • Despite a broad-based softening in German inflation in December, Bunds followed the global trend slightly higher and OATs underperformed as French PM Lecornu was set to revise his budget plan in an attempt to gain parliamentary support.  
    • Gilts also made modest losses on a quiet day for UK economic news.
  • US Economic Comment

    US Economic Comment

    16 January 2026 341 KB PDF
    • Q4 update: GDP tracking at 2+ percent despite drag from the government shutdown