London & NY Research


    Daiwa Europe’s market-leading research on the Japanese economy.


    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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  • Euro Wrap-up

    Euro Wrap-up

    22 March 2023 290 KB PDF
    • Ahead of the FOMC decision, Bunds made losses as a speech by ECB President Lagarde pointed to the likelihood of further tightening in May.
    • Gilts made larger losses as UK inflation surprised on the upside, with record increases in food, services and core goods prices for the month of February.
  • US FOMC Review

    US FOMC Review

    22 March 2023 251 KB PDF
    • FOMC: focused on inflation, but mindful of banking risks
  • Euro wrap-up

    Euro wrap-up

    21 March 2023 268 KB PDF
    • Bunds followed the global trend lower, even as today’s German ZEW survey suggested a loss of recovery momentum in March and diminished optimism regarding the outlook.
    • Gilts also made modest losses on a quiet day for UK top-tier economic news.
  • Euro Wrap-up

    Euro Wrap-up

    17 March 2023 524 KB PDF
    • Despite a marked acceleration in euro area labour costs, Bunds followed USTs sharply higher as concerns about banking sector stability persisted.
    • Gilts also rallied while a BoE survey reported a notable decline in household inflation expectations.
  • US Economic Comment

    US Economic Comment

    17 March 2023 283 KB PDF
    • FOMC preview: another hike despite bank uncertainty
  • Euro Wrap-up

    Euro Wrap-up

    16 March 2023 268 KB PDF
    • Bunds made sizeable losses as the ECB ignored recent market turmoil to hike its deposit rate by a further 50bps to 3.00%, but the Governing Council offered little guidance on the path ahead.
    • Gilts followed the global trend lower on day bereft of UK economic data. 
  • US Data Review

    US Data Review

    16 March 2023 156 KB PDF
    • Housing starts: jump in multi-family; marginal increase in single-family
  • US Data Review

    US Data Review

    15 March 2023 243 KB PDF
    • Retail sales: pause in February
    • PPI: food prices drop; energy prices ease; continued deceleration ex. food & energy