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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  • Euro Wrap-Up

    Euro Wrap-Up

    15 May 2019 379 KB PDF
    • Bunds made substantive gains, pushing 10Y yields to -0.10% for the first time since 2016, despite data confirming solid growth in German GDP and euro area employment in Q1.
    • Gilts also made significant gains after the Government committed to call a Parliamentary vote on its Brexit legislation in early June.
  • Euro Wrap-Up

    Euro Wrap-Up

    14 May 2019 382 KB PDF
    • While data confirmed that euro area IP returned to growth in Q1, Bunds made modest gains and BTPs made significant losses as Italy’s Deputy PM Salvini stated he could breach EU fiscal rules to boost employment.
    • Gilts also made modest gains as data showed a moderation in UK jobs growth.
  • US Economic Comment

    US Economic Comment

    10 May 2019 328 KB PDF
    • Inflation: transitory factors still in play, but underlying pressure also limited
    • Financial vulnerabilities: some risks, but the Fed views the system as resilient
  • Euro Wrap-Up

    Euro Wrap-Up

    10 May 2019 590 KB PDF
    • Bunds were little changed as German export data beat expectations but French and Italian production figures posted declines.
    • Gilts were also little changed as UK Q1 GDP data confirmed an acceleration driven partly by precautionary Brexit-related stock-building.
  • Yen 4Sight

    Yen 4Sight

    10 May 2019 377 KB PDF
    • Average labour earnings fell sharply in March, with only some of the weakness able to be excused by statistical quirks.
    • The household survey suggested stronger spending in Q1, but private consumption was probably weaker than those data imply.
  • US Data Review

    US Data Review

    9 May 2019 137 KB PDF
    • International trade: exports and imports improve in March; deficit slips
  • Euro Wrap-Up

    Euro Wrap-Up

    8 May 2019 401 KB PDF
    • Bunds were little changed despite better-than-expected German IP data.
    • While a survey suggested strong UK retail sales in April, Gilts made gains as Theresa May’s future as Prime Minister remained unclear and Brexit talks between the Government and Labour party appeared fruitless.


  • Euro Wrap-Up

    Euro Wrap-Up

    7 May 2019 422 KB PDF
    • Bunds made substantive gains as German factory orders pointed to ongoing weakness in the manufacturing sector.
    • Gilts also made notable gains as data confirmed another drop in UK new car registrations and cross-party talks on Brexit resumed.