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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2020

2019

  • Euro Wrap-up

    Euro Wrap-up

    8 January 2020 389 KB PDF
    • Bunds made losses despite some disappointing German factory orders data, which fell to a more than three-year low.
    • Gilts ended the day little changed as UK labour productivity figures suggested that the woeful post-crisis performance continues.
  • Euro Wrap-up

    Euro Wrap-up

    7 January 2020 321 KB PDF
    • Bunds closed little changed as the December flash euro area inflation estimate aligned with expectations, rising to a six-month high.
    • On a day bereft of UK economic data, Gilts made losses as the DMO announced plans to increase Gilt issuance this quarter.
  • US Data Review

    US Data Review

    7 January 2020 240 KB PDF
    • International trade: light imports, narrower deficit
    • ISM nonmanufacturing: sharp advance in business activity, but from a low level
    • Factory orders: modest gain in nondurable partially offsets drop in durable
  • Euro Wrap-up

    Euro Wrap-up

    6 January 2020 443 KB PDF
    • Bunds ended the day little changed despite an upside surprise to the final euro area and German services PMIs.
    • Gilts followed Treasuries lower, while the final UK services PMIs was consistent with stagnation despite a notable upwards revision.
  • Euro Wrap-up

    Euro Wrap-up

    3 January 2020 380 KB PDF
    • Despite upside surprises to the flash December estimates of German and French inflation, Bunds followed USTs higher on concerns about events in the Middle East.   
    • Gilts also made significant gains as UK data indicated ongoing construction sector weakness and subdued consumer credit growth.
  • Yen 4Sight

    Yen 4Sight

    3 January 2020 453 KB PDF
    • Japanese manufacturers had a disappointing November, with the level of output falling to its lowest in 6½ years. 
    • The latest retail sales data were somewhat more encouraging, suggesting a slightly better performance after the sales tax hike than in 2014. Employment also rose to a new record high.  

     

  • US Data Review

    US Data Review

    3 January 2020 154 KB PDF
    • ISM: production-led drop in multi-year low
    • Construction: residential and government-related doing well
  • US Economic Comment

    US Economic Comment

    3 January 2020 313 KB PDF
    • RP market: calm at year-end; likely to remain so in the months ahead
    • Forecast review: slower growth, but no recession in 2020; noise from Boeing