Core Viewpoint - The liquidity environment remains relatively loose despite previous fluctuations due to year-end factors, with expectations for continued low volatility in the funding landscape through 2026 [1] Group 1 - The impact of year-end and month-end factors previously caused a slight increase in government bond yields [1] - Multiple institutions believe that the current liquidity environment is still maintaining a loose stance based on the central tendency of funding rates and monetary policy orientation [1] - The expectation for stable growth demand and a monetary policy that maintains a "moderately loose" tone will support the continuation of low volatility in the funding environment [1]