London & NY Research

  • JAPAN

    Daiwa Europe’s market-leading research on the Japanese economy.

  • EUROPE

    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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2020

2019

  • US Data Review

    US Data Review

    3 September 2019 132 KB PDF
    • ISM manufacturing: breaches 50-percent threshold
    • Construction: firm government activity; slow in the private sector
  • Euro Wrap-up

    Euro Wrap-up

    2 September 2019 388 KB PDF
    • Bunds were little changed as the final euro area manufacturing PMIs underscored the impression of ongoing major weakness in the sector.
    • Sterling weakened and Gilts made gains as the UK manufacturing PMI signalled sharp contraction, rebel MPs prepared an attempt to block a no-deal Brexit, and the Government appeared to prepare for an early election.  
  • Euro Wrap-up

    Euro Wrap-up

    30 August 2019 510 KB PDF
    • While flash euro area inflation data were subdued and German retail sales fell sharply, Bunds made modest gains and BTPs sold off as another hawkish ECB policymaker questioned the merits of a new round of QE.
    • As the UK’s political crisis rolled on, Gilts made losses despite some further downbeat economic sentiment surveys.   
  • US Data Review

    US Data Review

    30 August 2019 138 KB PDF
    • Personal income, consumption, prices: brisk consumer spending, contained inflation
  • Euro Wrap-up

    Euro Wrap-up

    29 August 2019 396 KB PDF
    • Bunds at the longer end of the curve fell after the ECB’s Knot (a well-known hawk) stated that he is open to a rate cut but sees no need to resume QE right now. 
    • Despite a late sell-off, longer-dated Gilts made very modest gains on the day after data confirmed another fall in UK car production.
  • 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.