London & NY Research

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

  • EUROPE

    Daiwa’s research coverage of the euro area and UK economies.

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    Daiwa’s coverage of the US economy from our colleagues in New York

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2021

2020

  • Euro Wrap-up

    Euro Wrap-up

    25 March 2021 330 KB PDF
    • Bunds made gains as data reported a further increase in household and business bank deposits, as well as improved sentiment among German consumers and French firms.
    • Gilts made gains as a UK retail survey disappointed expectations.
  • Euro Wrap-up

    Euro Wrap-up

    24 March 2021 365 KB PDF
    • Bunds made modest gains despite significant upside surprises in the flash PMIs and euro area consumer confidence index for March.
    • With the flash UK PMIs beating expectations, Gilts made modest losses at the shorter end of the curve despite a downside surprise from the latest UK inflation data.
  • US Data Review

    US Data Review

    24 March 2021 148 KB PDF
    • Durable goods orders: off in February, but minimal damage to firm trend.
  • Euro Wrap-up

    Euro Wrap-up

    23 March 2021 521 KB PDF
    • Bunds made gains after German policymakers agreed to extend pandemic containment measures for a further four weeks.
    • Gilts also made gains even as UK data reported an increase in payrolls and a new twelve-year high in pay growth.
  • US Data Review

    US Data Review

    23 March 2021 153 KB PDF
    • New home sales: sharp decline driven by adverse weather.
  • US Economic Comment

    US Economic Comment

    22 March 2021 315 KB PDF
    • Lingering effects of February weather.
    • FOMC: flawed guidance, but clear signals.
  • US Data Review

    US Data Review

    22 March 2021 153 KB PDF
    • Existing home sales: off in February, most likely constrained by weather.
  • European Banks - Credit Update

    European Banks - Credit Update

    22 March 2021 1122 KB PDF
    • Credit Suisse’s strong financial start to 2021 can’t dispel reputational damage from Greensill fallout.
    • Greek banks still have long way to go in terms of balance sheet de-risking as delayed economic recovery could offset benefits from government guaranteed NPL disposals.
    • Last week’s congested FIG pipeline saw volumes catch up considerably with 2020 levels while the FIG subordinated space was dominated by UK issuers.