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

    2 August 2019 200 KB PDF
    • Labour market: mixed results in July; less than impressive on balance
    • International trade: modest improvement in June
  • US Economic Comment

    US Economic Comment

    2 August 2019 254 KB PDF
    • Fed call: still looking for another rate cut
    • Wage growth: stalled, but household sector sound financially
  • Euro Wrap-up

    Euro Wrap-up

    1 August 2019 415 KB PDF
    • Longer-dated Bunds made modest gains as the euro area’s manufacturing PMIs signalled a steeper pace of contraction in July.
    • Gilts also made gains as the BoE revised down its near-term GDP forecasts and signalled its readiness to support the economy if required.
  • 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.