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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  • US FOMC Review

    US FOMC Review

    29 January 2020 117 KB PDF
    • FOMC: technical adjustments
  • US Data Review

    US Data Review

    28 January 2020 402 KB PDF
    • Durable goods orders: surge in transportation category; dip elsewhere
    • Consumer confidence: pickup in January
  • US Economic Comment

    US Economic Comment

    27 January 2020 300 KB PDF
    • FOMC: focus on technical issues, not policy
    • Fed T-bill purchases: oil, not gasoline
    • A challenge in the Phase One trade agreement
  • US Data Review

    US Data Review

    27 January 2020 157 KB PDF
    • New home sales: downside surprise; a dip in December from a downward revised level
  • Euro Wrap-up

    Euro Wrap-up

    27 January 2020 386 KB PDF
    • As concerns about the coronavirus roiled global markets and Germany’s ifo business survey disappointed expectations, Bunds made significant gains. BTPs outperformed on the weekend’s Italian regional election results.   
    • While UK mortgage approval data surprised on the upside, Gilts also rallied.
  • Euro Wrap-up

    Euro Wrap-up

    24 January 2020 518 KB PDF
    • Bunds made gains as the flash euro area PMIs pointed to continued subdued GDP growth, despite some signs of improvement in Germany.
    • Gilts made also made gains even as the flash UK PMIs surprised on the upside and reduced the likelihood of rate cut at next week’s BoE meeting.
  • Euro Wrap-up

    Euro Wrap-up

    23 January 2020 363 KB PDF
    • On a day of diminished risk appetite, Bunds made gains, particularly at the long end, as Lagarde suggested that near-term euro area economic growth would remain in the recent range and the Commission’s flash estimate of consumer confidence suggested no improvement at the start of 2020.
    • Gilts also made gains and the yield curve flattened on a day without any top-tier UK economic data.
  • Euro Wrap-up

    Euro Wrap-up

    22 January 2020 386 KB PDF
    • Bunds and other euro area government bonds made gains as a French survey suggested a softening of business sentiment and Italian political uncertainty intensified.
    • Gilts made losses as a survey suggested a marked improvement in optimism in the UK’s manufacturing sector.