每日投行/机构观点梳理（2026-01-14）

Group 1: Inflation and Economic Outlook - Morgan Stanley's chief economic strategist noted that inflation has not re-accelerated but remains above target, indicating insufficient grounds for the Federal Reserve to lower interest rates in January [1] - JPMorgan's CEO highlighted the resilience of the U.S. economy despite a slowdown in the labor market, with consumer spending remaining strong and businesses generally healthy [1] - Credit Agricole's forex strategist suggested that the market has already priced in negative factors related to interest rate cuts, indicating that the dollar may be undervalued [1] Group 2: Currency and Monetary Policy - Barclays reported that the Japanese yen may face downward pressure due to rising concerns over Japan's fiscal situation, potentially leading to further monetary easing [2] - Mitsubishi UFJ noted that a significant depreciation of the yen could raise concerns among policymakers, with speculation about government intervention to support the currency [3] - Julius Baer indicated that despite narrowing interest rate differentials, the yen is expected to remain weak due to concerns over Japan's fiscal policies and high public debt levels [4] Group 3: UK Economic Outlook - ING analysts warned that the British pound's recent gains against the euro may not be sustainable, as the Bank of England could lower interest rates sooner than expected [5][6] Group 4: U.S. Inflation and Federal Reserve Predictions - CICC reported that the U.S. December CPI rose by 2.7% year-on-year, aligning with market expectations, while core CPI was slightly below expectations [7] - CITIC Securities projected that the Federal Reserve would pause interest rate cuts in January and implement two cuts of 25 basis points each later in the year [8] Group 5: Strategic Metals and Investment Opportunities - CITIC Jiantou emphasized the bullish outlook for strategic metals due to rising resource nationalism and significant changes in demand dynamics [9] - Galaxy Securities highlighted the potential for a super copper cycle driven by the intersection of AI advancements and global order restructuring, suggesting significant upside for copper prices [11][12] Group 6: Brain-Computer Interface Industry - Galaxy Securities reported that brain-computer interface technology is moving towards industrial production, with significant policy support in China facilitating its commercialization [13]