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

    6 September 2019 589 KB PDF
    • Against a backdrop of weaker consumer confidence and bad weather, consumption declined sharply at the start of Q3.
    • While IP rose in July, it maintained a downward trend. And surveys point to ongoing weakness ahead.
  • Euro Wrap-up

    Euro Wrap-up

    6 September 2019 548 KB PDF
    • Longer-dated Bunds reversed some of yesterday’s losses as German manufacturing production data disappointed expectations.  
    • Gilts also made notable gains, while UK opposition parties looked set to block another attempt on Monday by PM Johnson to hold a general election in mid-October.
  • US Economic Comment

    US Economic Comment

    6 September 2019 266 KB PDF
    • Job growth: adjust your perceptions
    • Manufacturing: soft, but not recession-like
  • Euro Wrap-up

    Euro Wrap-up

    5 September 2019 352 KB PDF
    • Despite some disappointing German factory orders data, Bunds followed USTs significantly lower as risk appetite returned on the back of more positive geopolitical news and US economic data.
    • Gilts made big losses as draft legislation seeking to prevent a no-deal Brexit looked set to be approved by the House of Lords tomorrow.
  • US Data Review

    US Data Review

    5 September 2019 199 KB PDF
    • ISM nonmanufacturing: orders and business activity rebound; employment softens
    • Factory orders: mildly encouraging results
  • US Data Review

    US Data Review

    4 September 2019 206 KB PDF
    • International trade: deficit narrowed in July, but Q3 on track for a slight drag on growth
  • Euro Wrap-up

    Euro Wrap-up

    4 September 2019 288 KB PDF
    • Despite some weaker euro area retail sales data, Bunds made losses and BTPs made further gains after Five Star Movement members yesterday gave strong backing to the new Italian coalition government programme.
    • Gilts made significant gains as MPs were expected this evening to back a Bill seeking to prevent a no-deal Brexit, and withhold support for a new general election until that Bill becomes is made law.  
  • Euro Wrap-up

    Euro Wrap-up

    3 September 2019 265 KB PDF
    • Shorter-dated Bunds made modest losses after Estonian Governing Council member Muller joined the group of more hawkish members to suggest there is no strong case to resume QE.
    • Gilts made gains as UK MPs took first action to try to prevent a no-deal Brexit.