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 Data Review

    US Data Review

    24 July 2019 123 KB PDF
    • New home sales: solid gain in June, but from a downward revised level
    • A moderate response to lower interest rates
  • Euro Wrap-up

    Euro Wrap-up

    23 July 2019 450 KB PDF
    • Bunds made modest gains today despite an upside surprise to the Commission’s consumer confidence indicator. Bonos initially made losses after Spain’s parliament voted against Sánchez’s bid to be appointed as PM.
    • Gilts also made small gains, as Johnson was confirmed as May’s successor and a UK survey signalled very weak manufacturing orders.
  • US Data Review

    US Data Review

    23 July 2019 136 KB PDF
    • Existing home sales: Off in June; mediocre level of activity
  • US Economic Comment

    US Economic Comment

    22 July 2019 270 KB PDF
    • Q2 GDP: strong consumer spending, soft business spending
    • Trade developments: firm tariff collections, only fractionally paid by China
  • Euro Wrap-up

    Euro Wrap-up

    19 July 2019 668 KB PDF
    • Bunds made gains today as financial markets await the coming week’s ECB announcement. In contrast, BTPs made losses as Italy’s Deputy PM Salvini was reportedly undecided about holding a snap election.
    • Gilts also made gains despite a larger than expected increase in UK public sector borrowing.
  • Yen 4Sight

    Yen 4Sight

    19 July 2019 427 KB PDF
    • Ahead of the BoJ’s end-July Policy Board meeting, the latest inflation figures showed core CPI declining to a two-year low. 
    • The latest trade report suggested net exports provided a notable drag on GDP growth in Q2. But consumption appears stronger.
  • Euro Wrap-up

    Euro Wrap-up

    18 July 2019 456 KB PDF
    • Bunds and other euro area government bonds made gains as a report suggested that the ECB is studying a revamp of its inflation goal. 
    • Gilts were little changed despite an upside surprise to the latest UK retail sales data and as the House of Commons voted to limit the next Prime Minister’s ability to force a no-deal Brexit.   
  • US Data Review

    US Data Review

    17 July 2019 111 KB PDF
    • Housing starts: correction in multi-family; slight improvement in single-family