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

FILTER DOCUMENTS

Category Clear
Archive Reset

2026

  • Euro wrap-up

    Euro wrap-up

    30 July 2026 421 KB PDF
    • Bunds made modest gains while euro area GDP growth in Q2 beat expectations and flash data from Germany and Spain reported a pickup in inflation in July.   
    • Gilts rallied particularly at the short end of the curve as Governor Bailey insisted that the BoE is not edging towards a rate hike despite a smaller majority in favour of today’s decision to leave policy unchanged.  
  • US Data Review

    US Data Review

    30 July 2026 257 KB PDF
    • GDP: strong domestic demand obscured by constraining influence from government spending, net exports, and inventory investment
    • Consumer prices: a restrained reading in the latest month, but inflation worries persist
  • US FOMC Review

    US FOMC Review

    29 July 2026 202 KB PDF
    • FOMC decision: the Committee maintained the target range for the federal funds rate at 3-1/2 to 3-3/4 percent for the fifth consecutive meeting; 9-3 decision with three policymakers favoring a hike
    • The statement: the latest iteration was substantially unchanged from that in June (aside from paragraph indicating dissents), balance sheet policy to continue operating in ample reserves framework
  • Euro wrap-up

    Euro wrap-up

    28 July 2026 338 KB PDF
    • While French consumers were more upbeat at the start of Q3, euro govvies followed the global trend slightly higher on lower oil prices.
    • Gilts also made modest gains as a UK survey showed shop price inflation moderating to a seven-month low.
  • US Data Review

    US Data Review

    28 July 2026 233 KB PDF
    • Consumer confidence: dip in July influenced by deterioration in views on current conditions; inflation expectations ease; labor market assessments worsen
  • Euro wrap-up

    Euro wrap-up

    27 July 2026 286 KB PDF
    • While the ifo survey implied a pickup in German economic growth momentum and euro area bank lending was relatively well maintained, Bunds made gains on lower wholesale energy prices.
    • Gilts also followed the global trend higher on a quiet day for UK economic news.
  • Euro wrap-up

    Euro wrap-up

    24 July 2026 402 KB PDF
    • Bunds made gains while the flash euro area PMIs signalled a broad-based improvement in economic momentum but also an easing in price pressures.
    • While the UK PMIs beat expectations, Gilts outperformed as the DMP survey signalled a further moderation in firms’ inflation and wage expectations.
  • US Economic Comment

    US Economic Comment

    24 July 2026 415 KB PDF
    • FOMC preview: target range for the federal funds rate to remain at 3-1/2 to 3-3/4 percent; June inflation metrics allow for patience, but price risks intensifying amid renewed tension in the Middle East; labor market solid
    • Tariff redux: the Trump administration levies new measures on 60 trading partners