Group 1 - French Agricultural Credit Bank analysts indicate that Japan's corporate capital expenditure is expected to become cautious due to U.S. tariffs and concerns over global economic slowdown, potentially leading to a quarter-on-quarter contraction in Japan's economy in Q3 2025 [2] - Barclays Bank reports a surge in European high-yield bond issuance driven by refinancing needs and increased dividend payments, with issuance surpassing €80 billion since 2025, marking the second-highest level for the period [2] - ING analysts suggest that if geopolitical risks ease, the dollar may face downward pressure due to reduced safe-haven demand, while strong U.S. inflation data has led to a reassessment of Federal Reserve rate cut expectations, supporting the dollar [3] Group 2 - Analysts believe the Bank of England may maintain a cautious interest rate stance for the remainder of 2025, with expectations to pause rate cuts in September and December, providing key support for the pound [4]

马来亚银行分析师表示，市场对美国CPI数据持谨慎态度。除非有明显迹象显示关税带来的物价压力显 著加大，否则此次通胀报告不太可能大幅改变市场对美联储9月降息或进一步宽松的预期。 （文章来源：新华财经） ...

Core Viewpoint - Maybank economists suggest that the Bank of Thailand may lower policy interest rates in August due to a more evident economic slowdown [1] Economic Outlook - The report indicates that by August, the Bank of Thailand should have a clearer understanding of the impact of U.S. tariff policies and domestic political factors on the economic trajectory [1] - The central bank has signaled a more dovish stance, anticipating weaker GDP growth in the second half of the year due to trade headwinds and sluggish consumption [1]