每日机构分析：1月14日

Group 1 - Nomura Securities indicates that the Philippines' economic outlook is weakening due to government corruption scandals and an expanding negative output gap, suggesting that the monetary easing cycle is not over, with expectations of two rate cuts in 2026 [1] - The Carlyle Group notes that Japan's bond yields have risen to multi-year highs and the yen continues to depreciate, reflecting an economy emerging from long-term deflation, with a gradual normalization of interest rates being a positive development [1] - Mizuho Securities highlights that Japanese investors' allocation to overseas bonds is highly dependent on the Bank of Japan's interest rate path, with recent data showing a net sell-off of long-term foreign bonds [1] Group 2 - Analysts from XS.com report that the U.S. has shifted its stance on negotiations with Iran, increasing geopolitical risks, although the dollar's response to these events has been limited [2] - Westpac economists note that the U.S. Department of Justice's criminal investigation into Powell marks a new phase of government pressure on the central bank, but Powell enjoys broad support, indicating limited coercive power from Trump [2] - Columbia Threadneedle Investments emphasizes that threats against Powell regarding the Federal Reserve's budget could pose a direct threat to market sentiment, raising concerns about the politicization of the central bank [2][3] Group 3 - MFS Investment Management warns that threats to the Federal Reserve's independence represent a significant risk, highlighting the urgency for global asset diversification [3] - The market is currently returning to fundamental trading, but ongoing political pressure on the Federal Reserve's independence remains a concern, as indicated by Trump's critical remarks about Powell [3]