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

    17 March 2026 288 KB PDF
    • Bunds made modest gains, while a German investor survey signalled a marked energy-related deterioration in the economic outlook but uptick in near-term inflation and rate hike expectations.
    • Gilts outperformed on a quiet day for UK economic news.
  • US Data Review

    US Data Review

    16 March 2026 190 KB PDF
    • Industrial production: increases in manufacturing and mining offset decline in utilities
  • Euro wrap-up

    Euro wrap-up

    13 March 2026 438 KB PDF
    • Bunds made further losses, with the 10Y yield moving closer to 3%, as wholesale energy prices remained highly elevated but data confirmed that euro area industrial production fell in January to a 13-month low.
    • Gilts also made losses even as UK GDP failed to grow at the start of the year.
  • US Economic Comment

    US Economic Comment

    13 March 2026 404 KB PDF
    • FOMC: on hold in March amid heighted risks to both sides of the dual mandate; modest changes anticipated in new Summary of Economic Projections
    • Friday data: Q4 growth revised lower, as are our expectations for Q1
  • Euro wrap-up

    Euro wrap-up

    11 March 2026 359 KB PDF
    • While IEA members unanimously agreed to release stocks from their emergency oil reserves, Bunds sold off as the impact of rising wholesale energy prices was evident on German weekly petrol and heating oil inflation data.
    • Gilts again underperformed on a quiet day for UK economic news.
  • US Data Review

    US Data Review

    11 March 2026 234 KB PDF
    • CPI: latest contained advance in line with market expectations, although recent spike in energy prices suggests renewed (but likely transient) pressure in coming months
  • US Data Review

    US Data Review

    10 March 2026 215 KB PDF
    • Existing home sales: activity increases on the back of improved affordability
  • Euro wrap-up

    Euro wrap-up

    9 March 2026 322 KB PDF
    • While German industrial production and new factory orders data came in on the soft side, euro area govvies made modest losses as global energy prices rose further.
    • Although the substantial sell-off at the start of the day partially reversed, shorter-dated Gilts still made big losses as market pricing of a BoE rate cut this year tempered.