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 FOMC Review

    US FOMC Review

    18 September 2019 191 KB PDF
    • FOMC: still divergent views on rate path; no one wildly dovish
  • US Data Review

    US Data Review

    17 September 2019 131 KB PDF
    • Industrial production: respectable results in manufacturing and mining
  • Euro Wrap-up

    Euro Wrap-up

    13 September 2019 475 KB PDF
    • As the ECB policy announcements continued to reverberate, euro area government bonds made further losses, particularly at the long end of the curve, while euro area labour cost growth picked up.
    • Gilts followed the global trend of higher yields on a day of more Brexit speculation but no substantive UK economic news.  
  • Credit Comment

    Credit Comment

    13 September 2019 350 KB PDF
    • ECB's lower ad infinitum
  • US Data Review

    US Data Review

    13 September 2019 204 KB PDF
    • Retail sales: a pause in August after strong results in July
    • Consumer sentiment: modest rebound in Sept; still in low end of recent range
  • US Economic Comment

    US Economic Comment

    13 September 2019 245 KB PDF
    • FOMC preview: a friendlier Fed
    • Inflation: hints of a pickup, but non-issue at this time
  • Euro Wrap-up

    Euro Wrap-up

    12 September 2019 568 KB PDF
    • As the ECB cut rates, introduced a tiering framework and launched a new open-ended QE programme, euro area govvies made losses at the shorter end of the curve but longer-dated periphery bonds made gains.
    • Gilts were little changed despite a more downbeat UK housing survey.
  • Euro Wrap-up

    Euro Wrap-up

    10 September 2019 273 KB PDF
    • Bunds made losses despite some disappointing French and Italian IP data.
    • Gilts also made losses as UK data showed the strongest wage growth for eleven years.