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

    4 December 2019 384 KB PDF
    • Longer-dated Bunds made modest losses even as the final euro area PMIs remained consistent with a weakening services sector in Q4.
    • While the final UK PMIs signalled contraction in Q4, Gilts made notable losses and sterling appreciated sharply as polls suggested the Conservatives will likely win a majority in next week’s general election.
  • US Data Review

    US Data Review

    4 December 2019 154 KB PDF
    • ISM nonmanufacturing: good order flow, but slow business activity
  • Euro Wrap-up

    Euro Wrap-up

    2 December 2019 391 KB PDF
    • Despite increased political uncertainty in Germany, Bunds made large losses as the euro area manufacturing PMIs were revised up from their flash estimates.   
    • Gilts made somewhat smaller losses despite an upwards revision to the UK flash manufacturing PMIs.
  • US Data Review

    US Data Review

    2 December 2019 135 KB PDF
    • ISM: slight decline in November from an already low level
    • Construction: broad-based softness in October
  • Euro Wrap-up

    Euro Wrap-up

    29 November 2019 387 KB PDF
    • Bunds were little changed as the flash estimates of euro area inflation surprised on the upside but German retail sales figures disappointed.
    • Despite another subdued UK consumer confidence survey, Gilts made losses.
  • US Economic Comment

    US Economic Comment

    28 November 2019 350 KB PDF
    • Recent economic statistics: suggesting continued moderate growth in Q4
    • The U.S. economy in Q3: modest adjustment to the initial estimate of GDP
  • Euro Wrap-up

    Euro Wrap-up

    28 November 2019 402 KB PDF
    • Bunds were little changed as the Commission’s sentiment survey signalled a widespread, albeit modest, improvement in conditions in November.
    • Gilts were also little changed despite a downbeat UK services sector survey and weaker car production figures.
  • Euro Wrap-up

    Euro Wrap-up

    27 November 2019 384 KB PDF
    • Bunds and OATs were little changed despite a stronger French consumer confidence survey, but BTPs weakened after a weaker Italian survey.  
    • Gilts made losses after a poor performance in a TV interview by Labour leader Corbyn appeared to boost the likelihood of a Conservative majority.