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

    25 March 2019 431 KB PDF
    • Bunds made modest gains at the longer end of the curve as the German ifo business survey provided a more positive impression of business conditions than Friday’s flash PMIs.
    • Gilts made gains as Theresa May clung on to her job as PM but still failed to find support for her Brexit deal at the start of a key week in Parliament.
  • Euro Wrap-up

    Euro Wrap-up

    22 March 2019 625 KB PDF
    • Bunds made big gains, with 10Y yields falling into negative territory, as the flash euro area PMIs suggested a further weakening of economic activity.
    • Gilts also made significant gains as the UK Government’s intentions for the next Brexit votes in Parliament remained unclear.
  • Yen 4Sight

    Yen 4Sight

    22 March 2019 421 KB PDF
    • While exports rebounded in February, the underlying trend has clearly weakened in recent months.
    • Unfortunately, both the manufacturing PMI and Reuters Tankan pointed weaker business conditions in March.
  • US Data Review

    US Data Review

    22 March 2019 135 KB PDF
    • Existing home sales: a surge in February
  • US Economic Comment

    US Economic Comment

    22 March 2019 266 KB PDF
    • The U.S. economy and monetary policy: cross currents versus fundamentals
    • The yield curve: more narrowing, but still not a concern
  • Euro Wrap-up

    Euro Wrap-up

    21 March 2019 436 KB PDF
    • Following Wednesday’s substantive gains in US Treasuries, Gilts opened higher and rose further as investors awaited EU leaders’ decision, subsequently reached, to extend Article 50 and avoid a no-deal Brexit next week.  
    • Bunds also made gains despite a further increase in the Commission’s consumer confidence index.
  • Euro Wrap-up

    Euro Wrap-up

    20 March 2019 453 KB PDF
    • Gilts made gains as Theresa May requested a short extension of the Article 50 deadline amid a deepening political crisis in the UK.
    • Bunds made very modest gains at the longer end of the curve on a quiet day for economic news from the euro area.
  • US FOMC Review

    US FOMC Review

    20 March 2019 193 KB PDF
    • FOMC: more dovish, but still hints of tightening
    • Balance sheet: tapering of Treasury redemptions in May…