London & NY Research

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    Daiwa Europe’s market-leading research on the Japanese economy.

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    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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2024

2023

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  • Euro Wrap-up

    Euro Wrap-up

    24 October 2023 344 KB PDF
    • Bunds made gains as the flash euro area PMIs flagged rising recession risks, German consumer confidence fell amid deteriorating income expectations and the ECB bank lending survey signalled a larger than expected decline in loan demand.
    • Gilts also made gains as the flash UK PMIs remained consistent with modest contraction at the start of Q4, while employment declined over the summer.

     

  • Euro Wrap-up

    Euro Wrap-up

    20 October 2023 342 KB PDF
    • Bunds made gains as German producer price inflation fell to a new record low and German exports to non-EU countries posted the steepest annual drop for more than three years.
    • Gilts also made more modest gains as UK retail sales fell further than expected in Q3 and consumer confidence deteriorated at the start of Q4.
  • US Economic Comment

    US Economic Comment

    20 October 2023 536 KB PDF
    • Q3 GDP: strong performance anticipated
    • Consumer spending, net exports, and inventory investment to drive firm headline
  • Euro Wrap-up

    Euro Wrap-up

    19 October 2023 257 KB PDF
    • Bunds ended the day little changed, while a French survey reported a broad-based deterioration business sentiment at the start of Q4.
    • Despite a quiet day for UK economic news, longer-dated Gilts made modest losses.
  • Euro Wrap-up

    Euro Wrap-up

    18 October 2023 325 KB PDF
    • While the broad-based drop in euro area inflation in September was confirmed and construction output remained on track for a drop in Q3, Bunds followed USTs lower.
    • Gilts underperformed as UK CPI inflation failed to fall in September.
  • Euro wrap-up

    Euro wrap-up

    17 October 2023 297 KB PDF
    • Bunds followed USTs lower, while a German investor sentiment survey pointed to some stabilisation in the outlook.
    • Longer-dated Gilts also made losses as UK labour market figures reported a decline in payrolls and a very gradual moderation in wage pressures.

     

  • Euro Wrap-up

    Euro Wrap-up

    13 October 2023 317 KB PDF
    • Bunds followed USTs higher, while euro area industrial production remained on track for a fourth consecutive quarterly decline in Q3 despite an increase in August.
    • Gilts also made gains on a quiet day for UK economic releases.
  • US Economic Comment

    US Economic Comment

    13 October 2023 515 KB PDF
    • A firm CPI reading in September suggests more work ahead for the Fed
    • Financial conditions: signs of tightening for consumers and small businesses