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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2025

2024

  • Euro wrap-up

    Euro wrap-up

    19 September 2024 238 KB PDF
    • Gilts made losses as the BoE left rates unchanged but signalled gradual cuts ahead, while the MPC agreed to continue QT at the same annual pace of £100bn, implying fewer active Gilt sales.
    • Shorter-dated Bunds followed USTs higher, while euro area new car registrations fell sharply in August.
  • US Data Review

    US Data Review

    19 September 2024 236 KB PDF
    • Unemployment claims: both initial and continuing claims declined
    • Existing home sales: activity mired in the low end of the long-term range
  • Euro wrap-up

    Euro wrap-up

    18 September 2024 312 KB PDF
    • Ahead of the Fed’s policy announcement, Bunds followed the global trend lower while the final estimates of euro area inflation in August confirmed that the uptick in the services component was related to a likely-temporary boost to transport fares.
    • Gilts also made losses, while UK inflation aligned with market expectations but undershot the BoE’s projections.
  • US FOMC Review

    US FOMC Review

    18 September 2024 280 KB PDF
    • FOMC: pivot to lower rates initiated with a cut of 50 basis points
    • The September SEP: moderate growth; expectations for inflation adjusted lower; higher near-term unemployment versus June projections
  • US Data Review

    US Data Review

    17 September 2024 256 KB PDF
    • Retail sales: solid in August after brisk activity in the prior month
    • Industrial production: rebound in August following hurricane-related volatility in the prior month
  • Euro wrap-up

    Euro wrap-up

    17 September 2024 262 KB PDF
    • Bunds followed USTs lower, despite an extremely downbeat German investor survey.
    • Gilts also made modest losses on a quiet day for UK economic news.
  • Issuer Profile - Black Sea Trade and Development Bank

    Issuer Profile - Black Sea Trade and Development Bank

    16 September 2024 421 KB PDF
  • Euro wrap-up

    Euro wrap-up

    13 September 2024 436 KB PDF
    • Bunds were little changed on the day as data confirmed that euro area industrial production is on track to contract again in Q3 and that the pickup in French services inflation in August was caused in part by temporary Olympic-related factors.
    • Gilts were also little changed on a quiet end to the week for UK economic news.