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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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2026

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  • US FOMC Review

    US FOMC Review

    17 June 2026 240 KB PDF
    • FOMC decision: in a unanimous decision, target range for the federal funds rate unchanged for the fourth consecutive meeting at 3-1/2 to 3-3/4 percent amid elevated inflation and stable labor-market conditions
    • The statement: a dramatic departure from the previous iteration, providing little in the way of forward guidance
  • Euro wrap-up

    Euro wrap-up

    16 June 2026 383 KB PDF
    • Bunds followed the global trend higher as global energy prices fell further, while a German survey flagged an uptick in investor optimism.
    • Having also made gains on Monday, Gilts ended today little changed.
  • US Data Review

    US Data Review

    15 June 2026 189 KB PDF
    • Industrial production: modest improvement reflecting increase in mining output
  • Euro wrap-up

    Euro wrap-up

    12 June 2026 458 KB PDF
    • Bunds tracked the swings of global bond markets on the news-flow out of the Middle East and ended the day higher while a moderation in German inflation in May was also confirmed.
    • Gilts made larger gains after UK GDP contracted at the start of Q2.
  • Euro wrap-up

    Euro wrap-up

    11 June 2026 320 KB PDF
    • While the ECB raised rates for the first time since 2023 and signalled the likelihood of additional tightening to come, Bunds followed USTs higher.
    • Gilts also made modest gains while a UK survey flagged expectations of near-term house price declines but stability 12 months ahead.
  • US Data Review

    US Data Review

    10 June 2026 206 KB PDF
    • CPI: energy prices continue to boost the headline as conflict in the Middle East remains largely unresolved; core inflation comes in below consensus
  • Euro wrap-up

    Euro wrap-up

    9 June 2026 334 KB PDF
    • Bunds followed the global trend higher, while German industrial production returned to modest growth in April underpinned by a strong rebound in construction.
    • Gilts also made gains, while a UK retail survey suggested that a rebound in sales values in May was boosted by higher prices and a temporary heatwave.
  • Euro wrap-up

    Euro wrap-up

    8 June 2026 249 KB PDF
    • After the escalation of conflict in the Middle East over the weekend, Bunds opened lower before paring losses over the day, while German new factory orders fell back at the start of Q2.
    • Gilts also made losses, while a UK survey pointed to a further softening in labour demand and pay growth in May.