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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  • US Data Review

    US Data Review

    16 October 2019 154 KB PDF
    • Retail sales: soft in September; Q3 still solid
  • Euro Wrap-up

    Euro Wrap-up

    15 October 2019 350 KB PDF
    • Despite some weak UK labour market data, Gilts sold off on speculation that a Brexit deal between the EU and UK was imminent.
    • Bunds followed Gilts lower despite another downbeat ZEW investor survey.
    • Ahead of the EU summit, Brexit will remain in focus tomorrow, while new data due include UK and final euro area inflation figures for September and updates on euro area trade and EU new car registrations.
  • US Economic Comment

    US Economic Comment

    14 October 2019 308 KB PDF
    • Fed balance sheet: expanding again, but much different than QE
    • Federal budget: more slippage in fiscal year 2019
  • Euro Wrap-up

    Euro Wrap-up

    14 October 2019 322 KB PDF
    • Bunds made modest losses at the short end of the curve but gains at the long end as euro area IP posted a modest gain in August.
    • Gilts made significant gains as investor expectations of a Brexit deal at this week’s EU summit receded somewhat.  
  • Euro Wrap-up

    Euro Wrap-up

    11 October 2019 488 KB PDF
    • Sterling continued to strengthen and Gilts made significant losses as the EU agreed to intensify negotiations with the UK on a Brexit deal.
    • Bunds made losses at the longer end of the curve as final German inflation data for September provided no surprises.  
  • US Data Review

    US Data Review

    10 October 2019 161 KB PDF
    • Headline CPI: no change in September; energy prices fall; food prices inch higher
    • Core CPI: modest increase after upward pressure in the prior three months
  • Euro Wrap-up

    Euro Wrap-up

    10 October 2019 364 KB PDF
    • Bunds made losses as the account of the September ECB policy meeting confirmed there was greater support for a rate cut than new QE.  
    • Gilts also made losses, while sterling was given a boost as a joint statement from the UK PM and Irish Taoiseach opened the door for further discussions regarding a Brexit deal ahead of next week’s EU Summit.
  • US FOMC Review

    US FOMC Review

    9 October 2019 117 KB PDF

    FOMC minutes: a friendly Fed