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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2024

2023

  • Euro wrap-up

    Euro wrap-up

    10 December 2024 279 KB PDF
    • As French President Macron consulted party leaders to try to identify a new compromise Prime Minister, Bunds made gains at the shorter end as final German inflation data for November confirmed a softening of services price pressures while Italian industrial production maintained a downtrend.
    • Gilts followed USTs lower on a quiet day for UK economic news.
  • Euro wrap-up

    Euro wrap-up

    6 December 2024 396 KB PDF
    • Bund yields were little changed on the day, making modest gains at the short end after German IP data dampened hopes of a reversal to industrial sector fortunes in Q4.
    • Gilts made slight losses on a quiet day for UK economic news.
  • US Economic Comment

    US Economic Comment

    6 December 2024 385 KB PDF
    • November employment: payroll growth rebounds from weather-related disruption, but unemployment rises
    • Consumer sentiment: attitudes continue to improve in early December
  • Euro wrap-up

    Euro wrap-up

    5 December 2024 392 KB PDF
    • Bunds made losses, while OATs outperformed, after far-right leader Le Pen suggested that the French budget could be passed soon, conditional on a more gradual pace of fiscal consolidation.
    • Gilts made moderate losses as a BoE survey signalled that firms would look to pass on some new budget-related costs to higher prices, while also squeezing profit margins and wage growth.
  • US Data Review

    US Data Review

    4 December 2024 232 KB PDF
    • ISM services: key subcomponents post sizeable declines in November
  • Euro wrap-up

    Euro wrap-up

    4 December 2024 355 KB PDF
    • The French National Assembly backed a no-confidence motion against the Barnier government.
    • Ahead of the vote at European market close, Bunds had made very modest losses while OATs were little changed on the day.
    • Gilts were also little changed as BoE Governor Bailey suggested that one BoE rate cut per quarter might still be the most likely scenario in 2025.
  • US Data Review

    US Data Review

    2 December 2024 213 KB PDF
    • ISM manufacturing: factory sector contracts at a slower rate
  • Euro wrap-up

    Euro wrap-up

    2 December 2024 347 KB PDF
    • Bunds made gains while OATs underperformed significantly as French Prime Minister Barnier invoked a constitutional rule to force through his social security bill, raising the prospect of a no-confidence vote later this week.
    • Gilts made gains even as UK house price growth accelerated the most in more than two years.