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 Economic Comment

    US Economic Comment

    4 November 2019 320 KB PDF
    • Wage growth: not so bad
    • Business investment: a soft spot
  • Euro Wrap-up

    Euro Wrap-up

    4 November 2019 348 KB PDF
    • While the euro area’s manufacturing PMI signalled still very weak conditions in the sector at the start of Q4, Bunds followed the global trend lower.
    • Gilts also made notable losses even as the UK construction PMI implied still steep contraction in the sector.
  • US Data Review

    US Data Review

    1 November 2019 227 KB PDF
    • Employment: restrained by special factors; fundamentally strong
    • ISM: sub-50 for the third consecutive month
  • Euro Wrap-up

    Euro Wrap-up

    1 November 2019 468 KB PDF
    • Bunds followed the global trend lower on a day bereft of any euro area economic data.
    • Gilts also lost ground as the UK manufacturing PMI exceeded expectations, despite still signalling ongoing contraction in the sector at the start of Q4.
  • US FOMC Review

    US FOMC Review

    31 October 2019 139 KB PDF
    • FOMC statement: one notable change hints at a pause in easing
  • US Data Review

    US Data Review

    31 October 2019 232 KB PDF
    • Personal income, consumption, prices: subdued inflation in September
    • Employment cost index: solid increase in wages, but little change in trend
  • Euro Wrap-up

    Euro Wrap-up

    31 October 2019 362 KB PDF
    • Bunds made notable gains as euro area GDP growth remained subdued in Q3 and headline inflation fell to a near-three-year low in October.
    • Gilts also followed the global trend higher as UK car production remained weak at the end of Q3, while consumer confidence deteriorated at the start of Q4.
  • Euro Wrap-up

    Euro Wrap-up

    30 October 2019 368 KB PDF
    • Ahead of the FOMC announcement, Bunds followed Treasuries slightly higher as the European Commission’s sentiment indicator fell to its lowest level since early 2015.
    • Gilts made bigger gains after the House of Commons voted on Tuesday evening to hold a General Election on 12 December.