每日机构分析：8月26日

Group 1: Federal Reserve and Economic Outlook - French Agricultural Credit Bank expects the Federal Reserve to cut interest rates twice this year, targeting a terminal rate of 4.00% due to sticky inflation limiting aggressive easing policies [1] - Deutsche Bank analysts indicate that U.S. companies may be more susceptible to tariffs than European firms, with the latest Producer Price Index showing a 0.9% increase, suggesting tariffs are impacting businesses [3] - Ipek Ozkardeskaya from Swissquote Bank highlights that the recent firing of Fed Governor Lisa Cook has raised concerns about the Fed's independence, affecting market confidence in the U.S. [2] Group 2: Currency and Market Reactions - Deutsche Bank states that the recovery potential for the U.S. dollar is limited due to challenges faced by the Federal Reserve, with the dollar's situation expected to remain "difficult and volatile" [2] - Japanese investors view the recent sell-off of French government bonds due to political risks as a buying opportunity, as the yield spread between French and German 10-year bonds has reached its highest level since April [3] Group 3: Thailand's Economic Forecast - Maybank economists predict that the Bank of Thailand may cut interest rates twice before the end of 2026 due to weak economic growth and inflation prospects, with GDP growth expected to slow to 1.8% and 1.5% in Q3 and Q4 respectively [4]