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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2022

2021

  • Euro wrap-up

    Euro wrap-up

    8 July 2021 429 KB PDF
    • Bunds made modest gains as the ECB set a symmetric 2% medium-term inflation target and failed to mimic the Fed’s overshooting strategy.
    • Gilts made losses at the short end as surveys pointed to significant momentum in the UK labour market but a likely moderation ahead in the housing market.
  • Euro wrap-up

    Euro wrap-up

    7 July 2021 358 KB PDF
    • Bunds made gains as data reported a drop in German manufacturing due to a plunge in autos output, while the French government flagged concerns of a new fourth wave of Covid-19 caused by the delta variant.
    • Gilts also made gains on a quiet day for economic news from the UK.
  • US FOMC Review

    US FOMC Review

    7 July 2021 113 KB PDF
    • FOMC minutes: little insight into prospects for tapering.
  • Euro wrap-up

    Euro wrap-up

    6 July 2021 426 KB PDF
    • Bunds followed USTs notably higher while German factory orders data disappointed but euro area retail sales rebounded sharply in May.
    • Gilts similarly made gains despite an upside surprise to the UK construction PMI, which signalled the strongest growth in the sector for 24 years.
  • US Data Review

    US Data Review

    6 July 2021 153 KB PDF
    • ISM services: softer than expected, but still firm
  • Euro wrap-up

    Euro wrap-up

    5 July 2021 427 KB PDF
    • Bunds made modest losses as the final euro area services PMIs were revised higher, but German auto production and French IP were hit by supply bottlenecks.
    • Longer-dated Gilts also made modest losses as the UK Government was set to ease its pandemic restrictions further, the UK services PMI was upwardly revised, but car registrations figures suggested a slow recovery.
  • Euro Wrap-up

    Euro Wrap-up

    2 July 2021 563 KB PDF
    • While euro area producer price inflation rose to a record high and Spanish unemployment fell the most on record, Bunds made gains as ECB President Lagarde noted downside risks posed by Covid-19’s delta variant.
    • Gilts also made gains on a quiet end to the week for UK economic news.
  • US Economic Comment

    US Economic Comment

    2 July 2021 318 KB PDF
    • The labour market: lagging by some measures, robust by others
    • Inflation risks: supply-chain disruptions remain an issue