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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2021

2020

  • US Economic Comment

    US Economic Comment

    19 July 2021 294 KB PDF
    • Inflation: not entirely benign.
  • Euro Wrap-up

    Euro Wrap-up

    19 July 2021 429 KB PDF
    • Bunds followed USTs higher even as the Bundesbank predicted a return of German GDP to the pre-pandemic level this quarter, while euro area construction and French retail sales data posted growth.
    • Gilts rallied as external MPC members Haskel and Mann argued against a pre-emptive tightening of BoE monetary policy.
  • Euro Wrap-up

    Euro Wrap-up

    16 July 2021 636 KB PDF
    • Bunds made gains as euro area inflation was confirmed to have eased slightly in June and exports fell in May.
    • Gilts reversed yesterday’s losses on a quiet day for UK economic news.
  • Euro Wrap-up

    Euro Wrap-up

    15 July 2021 402 KB PDF
    • Gilts made significant losses after two members of the BoE’s MPC made hawkish comments while data showed significant positive momentum in the UK’s labour market.
    • On a quiet day for economic news from the euro area, Bunds followed USTs higher at the longer end of the curve.
  • US Data Review

    US Data Review

    15 July 2021 147 KB PDF
    • Industrial production: auto constrained; moderate elsewhere.
  • Euro Wrap-up

    Euro Wrap-up

    14 July 2021 484 KB PDF
    • Bunds followed gains in the UST market as euro area industrial production figures undershot downbeat expectations.
    • Gilts also followed USTs higher after initially losing ground in the wake of a significant upside surprise to UK consumer price inflation in June.
    • Tomorrow will bring the UK’s latest labour market report and final Italian inflation figures for June.
  • US Data Review

    US Data Review

    13 July 2021 149 KB PDF
    • CPI: more pandemic-related pressure; some stirring elsewhere.
  • Euro wrap-up

    Euro wrap-up

    9 July 2021 606 KB PDF
    • Bunds made modest losses as the account of the ECB’s June policy meeting confirmed broad consensus in favour of maintaining PEPP purchases at a higher pace but also revealed minorities in favour of slower and faster rates.
    • Gilts followed USTs lower despite weaker-than-expected UK GDP data for May.