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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2022

2021

  • Euro Wrap-up

    Euro Wrap-up

    25 April 2022 271 KB PDF
    • Bunds followed USTs higher, even as a Reuters report suggested that a majority of ECB Governing Council members want to end net asset purchases as soon as possible and raise rates no later than September, while the April German ifo survey beat expectations.
    • Gilts also made gains while a UK manufacturing survey reported much weaker optimism amid subdued orders and higher prices.
  • Euro Wrap-up

    Euro Wrap-up

    22 April 2022 616 KB PDF
    • Bunds made losses at the short end of the curve and BTPs underperformed as the April flash PMIs suggested that the boost to GDP from rebounding services activity is more than offsetting manufacturing weakness.    
    • Gilts made gains as UK retail sales and consumer confidence fell more sharply than expected and the flash April PMIs suggested a moderation of growth momentum in services.
  • US Economic Comment

    US Economic Comment

    22 April 2022 292 KB PDF
    • U.S. households: strong or strained financially?
    • Federal budget: half-year review.
    • Q1 GDP preview: probably soft, but not deeply troubling.
  • Euro Wrap-up

    Euro Wrap-up

    21 April 2022 566 KB PDF
    • Bunds made significant losses, as ECB Vice President De Guindos stated that a July rate hike is possible, the latest euro inflation data suggested broader price pressures and consumer confidence unexpectedly improved.
    • Gilts also made losses as BoE external member Mann stated that she was considering the case for a 50bps rate hike at May’s policy-setting meeting.
  • US Data Review

    US Data Review

    20 April 2022 153 KB PDF
    • Existing home sales: cooling, although still respectable.
  • Euro Wrap-up

    Euro Wrap-up

    20 April 2022 532 KB PDF
    • With the latest euro area economic activity data decidedly mixed, Bunds followed USTs higher despite a new high in German PPI inflation.
    • Gilts also made gains on a quiet day for UK economic news.
  • US Data Review

    US Data Review

    19 April 2022 153 KB PDF
    • Housing starts: multi-family activity drives gain
  • US Economic Comment

    US Economic Comment

    15 April 2022 302 KB PDF
    • Has inflation peaked? 
    • Gasoline sales: the price system works