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

    29 August 2019 204 KB PDF
    • GDP: modest revision to growth in Q2
    • International trade in goods: surprisingly firm exports
  • Euro Wrap-up

    Euro Wrap-up

    28 August 2019 358 KB PDF
    • Bunds made further gains despite some solid euro area bank lending data, while 10Y BTP yields fell to a record low below 1% as the Italian President looked set this evening to back a new coalition government.
    • Gilts rallied and sterling weakened as UK PM Johnson took steps to close parliament for a prolonged period to limit significantly the ability of MPs to prevent a no-deal Brexit.
  • Euro Wrap-up

    Euro Wrap-up

    27 August 2019 255 KB PDF
    • Bunds gained as ECB Vice President de Guindos made mildly dovish comments and BTPs rallied as Italy’s Five Star Movement and Democratic Party made progress to reaching a new coalition government agreement.
    • Gilts made gains as the main opposition parties agreed to work together through legislative means when the parliamentary recess ends next week to try to block a no-deal Brexit.
  • US Data Review

    US Data Review

    26 August 2019 131 KB PDF
    • Durable goods orders: aircraft-led jump in headline; orders ex-transportation dip
  • Yen 4Sight

    Yen 4Sight

    23 August 2019 436 KB PDF
    • Headline inflation fell further while core CPI measures showed underlying price pressures remained very subdued.
    • Net trade remained a drag on growth at the start of Q3. Surveys provided mixed messages about broader economic conditions but largely suggest weak underlying momentum.  
  • US Economic Comment

    US Economic Comment

    23 August 2019 258 KB PDF
    • Powell at Jackson Hole: noncommittal on rates, but probably supportive
    • The federal budget outlook: even wider deficits
    • Job growth: less robust than previously believed, but still favorable
  • Euro Wrap-up

    Euro Wrap-up

    22 August 2019 412 KB PDF
    • Bunds made losses as the euro area PMIs improved slightly while the ECB’s latest meeting account suggested that a rate cut and QE will be announced next month.
    • Gilts also made losses as Macron and Merkel appeared open to, albeit sceptical about, new proposals on Brexit.
  • US Data Review

    US Data Review

    21 August 2019 114 KB PDF
    • Existing home sales: further improvement in July, although still not booming