London & NY Research

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

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    Daiwa’s research coverage of the euro area and UK economies.

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    Daiwa’s coverage of the US economy from our colleagues in New York

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2019

  • Euro Wrap-up

    Euro Wrap-up

    30 September 2019 547 KB PDF
    • Bunds ended the day little changed as an upside surprise to today’s German retail sales figures offset softer-than-expected inflation.  
    • Gilts made modest gains as revised UK GDP figures confirmed that the economy contracted in Q2, with household consumption weaker than previously estimated.
  • Euro Wrap-up

    Euro Wrap-up

    27 September 2019 522 KB PDF
    • Shorter-dated Bunds made gains as the European Commission’s sentiment indicator fell to its lowest level since early 2015, while French flash inflation for September fell short of expectations.
    • Gilts made bigger gains after previously hawkish BoE MPC member Saunders hinted that a rate cut might be necessary even if a no-deal Brexit is avoided.
  • US Data Review

    US Data Review

    27 September 2019 236 KB PDF
    • Personal income & consumption: strong wage growth boosts income; consumer spending moderate in Q3
    • PCE price indexes: modest increase in core, but trend shows hints of acceleration
    • Durable goods orders: both total bookings and orders ex.-transportation tick higher
  • Euro Wrap-up

    Euro Wrap-up

    26 September 2019 390 KB PDF
    • Bunds made gains despite a modest improvement in German consumer confidence, and an acceleration in euro area bank lending.
    • Gilts made modest gains as UK car production figures indicated a continuing weakening trend.
  • US Data Review

    US Data Review

    26 September 2019 465 KB PDF
    • Revised GDP: headline unrevised; small shifts in components
    • International trade in goods: modest widening in monthly deficit
  • Euro Wrap-up

    Euro Wrap-up

    25 September 2019 347 KB PDF
    • Bunds followed Treasuries lower, while a survey suggested that French consumers were the most upbeat since the start of 2018.
    • Gilts made modest gains as a UK retail survey implied weak sales in Q3 and Q4, while the UK Parliament resumed activity.
  • US Data Review

    US Data Review

    25 September 2019 352 KB PDF
    • New home sales: a surge in August from an upwardly revised level 
  • Euro Wrap-up

    Euro Wrap-up

    24 September 2019 289 KB PDF
    • Bunds made gains as the ifo survey suggested a weakening German economic outlook.
    • Gilts also made gains as the UK Supreme Court found that Johnson’s decision to shut down Parliament was unlawful and a CBI survey pointed to a notable drop in manufacturing output in Q4.