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

    18 June 2026 343 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
  • Euro wrap-up

    Euro wrap-up

    16 June 2026 383 KB PDF
    • Bunds followed the global trend higher as global energy prices fell further, while a German survey flagged an uptick in investor optimism.
    • Having also made gains on Monday, Gilts ended today little changed.
  • US Data Review

    US Data Review

    15 June 2026 189 KB PDF
    • Industrial production: modest improvement reflecting increase in mining output
  • Euro wrap-up

    Euro wrap-up

    12 June 2026 458 KB PDF
    • Bunds tracked the swings of global bond markets on the news-flow out of the Middle East and ended the day higher while a moderation in German inflation in May was also confirmed.
    • Gilts made larger gains after UK GDP contracted at the start of Q2.
  • Euro wrap-up

    Euro wrap-up

    11 June 2026 320 KB PDF
    • While the ECB raised rates for the first time since 2023 and signalled the likelihood of additional tightening to come, Bunds followed USTs higher.
    • Gilts also made modest gains while a UK survey flagged expectations of near-term house price declines but stability 12 months ahead.