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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2026

2025

  • US Economic Comment

    US Economic Comment

    3 October 2025 382 KB PDF
    • Government shutdown: acrimony between parties raises possibility of a protracted disruption; long-term impact likely to be limited, although current standstill increases prospects for near-term Fed easing
    • The employment situation: although the Bureau of Labor Statistics’ report for September was postponed, ancillary metrics ratify policymakers’ concern about downside risks to the labor market
    • Additional insights on the economy: ISM data for September carry a soft tone
  • Euro wrap-up

    Euro wrap-up

    2 October 2025 284 KB PDF
    • While the euro area jobless rate edged up from the series low, longer-dated bunds made modest gains.
    • Gilts closed slightly lower while the BoE’s DMP survey reported an uptick in business inflation expectations but maintained expectations for weaker jobs and wage growth.
  • Euro wrap-up

    Euro wrap-up

    1 October 2025 280 KB PDF
    • While euro area inflation rose to a five-month high, Lagarde suggested that risks to consumer prices were quite contained allowing Bunds to follow USTs slightly higher.
    • Gilts also made modest gains on a quiet day for UK economic news.
  • US Data Review

    US Data Review

    1 October 2025 214 KB PDF
    • ISM manufacturing: rebound in production leads improvement in composite though still signaling contraction; prices remain elevated