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

    1 August 2019 190 KB PDF
    • ISM: off in July; barely above 50 percent
    • Construction: correction in government activity; private sector remains slow
  • Euro Wrap-up

    Euro Wrap-up

    31 July 2019 391 KB PDF
    • Ahead of tonight’s FOMC announcement, Bunds followed Treasuries higher as euro area Q2 GDP and July inflation slowed.  
    • Gilts also made gains, as UK household confidence remained subdued despite a pickup at the start of Q3.
  • US Data Review

    US Data Review

    31 July 2019 123 KB PDF
    • Employment cost index: below-average increase in Q2
  • US FOMC review

    US FOMC review

    31 July 2019 172 KB PDF
    • FOMC: not especially aggressive; “a mid-cycle adjustment”
  • Euro Wrap-up

    Euro Wrap-up

    30 July 2019 418 KB PDF
    • Bunds made modest gains after the Commission’s survey reported a notable decline in economic sentiment in July, while Germany’s flash harmonised inflation estimate fell more than expected.
    • Gilts also made gains, while sterling fell to a more than two-year low against cable as concerns about a no-deal Brexit remained to the fore.
  • US Data Review

    US Data Review

    30 July 2019 205 KB PDF
    • Personal income, consumption, prices: above-average core inflation, but still contained
    • Consumption on track for moderate growth
    • Consumer confidence: a jump to the upper end of the recent range
    • Pending home sales: marked improvement in June
  • US Economic Comment

    US Economic Comment

    29 July 2019 249 KB PDF
    • The budget agreement: fiscal discipline & responsibility has disappeared
    • FOMC preview: rate cut all but certain as Fed tests policy guidelines
  • Euro Wrap-up

    Euro Wrap-up

    26 July 2019 650 KB PDF
    • Bunds were little changed today, as sentiment surveys from France and Italy provided mixed messages. 
    • Gilts made modest gains on a quiet day for UK economic news.