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

    4 June 2026 362 KB PDF
    • Bunds followed the global trend higher as euro area retail sales fell in April and revised Irish GDP estimates reported a record contraction.  
    • Gilts also made gains as the UK construction PMI fell to a six-year low, but new car registrations in May were the best since 2019.
  • Euro wrap-up

    Euro wrap-up

    3 June 2026 307 KB PDF
    • Bunds followed the global trend lower as tensions in the Middle East intensified, while European producer price inflation rose to the highest level in three years.
    • Gilts also made losses, while the final UK composite output PMI was revised notably higher albeit remaining consistent with stagnation.
  • US Data Review

    US Data Review

    3 June 2026 202 KB PDF
    • ISM services: increase in composite led by rebound in new orders; prices rise to new multi-year high
  • Euro wrap-up

    Euro wrap-up

    2 June 2026 326 KB PDF
    • While euro area inflation rose to the highest level since September 2023 and core inflation surprised to the upside, Bunds followed USTs higher.
    • Gilts also made gains as BoE Governor Bailey reiterated that tighter financial conditions allowed the MPC time to assess the impact of the energy shock.
  • Euro wrap-up

    Euro wrap-up

    1 June 2026 299 KB PDF
    • Bund yields followed the global trend higher as oil prices rose on reports that Iran will halt discussions with the US, while European data showed that household inflation expectations remained elevated, the labour market remained resilient but German retail sales fell further.
    • Gilts underperformed on a quiet day for UK economic news.
  • US Data Review

    US Data Review

    1 June 2026 199 KB PDF
    • ISM manufacturing: indicating expansion for the fifth consecutive month; prices remain elevated
  • Euro wrap-up

    Euro wrap-up

    29 May 2026 366 KB PDF
    • As German inflation undershot expectations in May, Bunds followed the global trend higher on continued optimism for a potential resolution to the conflict in the Middle East.
    • Gilts also made gains after Governor Bailey reiterated that the BoE could tolerate a temporary inflation target overshoot until circumstances in the Middle East and the impact of the energy shock become clearer.
  • US Economic Comment

    US Economic Comment

    29 May 2026 410 KB PDF
    • Q2 GDP: the latest data suggest an acceleration from downwardly revised Q1 pace
    • Inflation: ugly print in April to keep Fed on sidelines