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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  • Euro Wrap-up

    Euro Wrap-up

    4 November 2020 553 KB PDF
    • Bunds followed USTs higher on US electoral news while the final euro area services PMIs pointed to a marked weakening of activity and German new car registrations fell despite an increase in production.
    • Gilts also made significant gains as the UK’s final services PMIs were revised down from the flash estimates.
  • US Data Review

    US Data Review

    3 November 2020 147 KB PDF
    • Factory orders: continued recovery in September
  • Euro Wrap-up

    Euro Wrap-up

    2 November 2020 347 KB PDF
    • While the final euro area manufacturing PMIs were consistent with growth, Bunds made gains as further member states announced new restrictions on activity and car registrations remained weak.
    • Gilts outperformed after Saturday’s announcement of a new English lockdown from this Thursday.
  • US Data Review

    US Data Review

    2 November 2020 154 KB PDF
    • ISM: solid advance in October to a robust level
    • Construction: firm residential activity; soft elsewhere
  • US Data Review

    US Data Review

    30 October 2020 229 KB PDF
    • Income & consumption: shrinking income support; moderate spending led by services
    • ISM: off slightly; still firm
  • Euro wrap-up

    Euro wrap-up

    30 October 2020 399 KB PDF
    • Bunds and other euro area government bonds made losses as the euro area’s Q3 data significantly beat expectations.  
    • Gilts followed other major government bonds lower as a measure of UK house price growth rose to the highest since early 2015.
  • US Economic Comment

    US Economic Comment

    30 October 2020 305 KB PDF
    • U.S. economy: prospects for the fourth quarter
    • Continued support from consumers
    • An uneventful FOMC meeting
  • Euro wrap-up

    Euro wrap-up

    29 October 2020 384 KB PDF
    • Bunds made gains, BTPs rallied, and the euro exchange rate depreciated as the ECB sent a clear signal that further monetary easing is coming in December, with all policy tools being considered for recalibration.
    • Gilts were little changed as UK car production hit a 25-year low, consumer credit fell, but new mortgage approvals reached their highest since 2007.