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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  • Yen 4Sight

    Yen 4Sight

    20 September 2019 458 KB PDF
    • The BoJ kept its main policy parameters unchanged, but pledged to re-examine the case for easing in October. 
    • Core CPI fell to a 2-year low in August. Exports also fell again. And the Reuters Tankan pointed to weakness further ahead.  
  • US Economic Comment

    US Economic Comment

    20 September 2019 282 KB PDF
    • The money market: a new issue for the Fed
    • Uncertainty: starting to weigh more heavily
  • Euro Wrap-up

    Euro Wrap-up

    19 September 2019 423 KB PDF
    • Bunds made modest losses after take-up of the ECB’s first TLTRO-III operation fell well short of expectations.
    • Shorter-dated Gilts also made modest losses despite a more dovish feel to the BoE’s latest policy statement.
  • Euro Wrap-up

    Euro Wrap-up

    18 September 2019 380 KB PDF
    • Bunds made gains as final euro area inflation data for August confirmed weak price pressures while construction and car registration figures also looked underwhelming.
    • Gilts made gains as UK inflation data for August significantly undershot expectations.
  • US Data Review

    US Data Review

    18 September 2019 133 KB PDF
    • Housing starts: firm gain in single-family; jump in multi-family reversed plunge in prior two months
  • 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.