{"id":49668,"date":"2026-05-18T13:53:13","date_gmt":"2026-05-18T13:53:13","guid":{"rendered":"https:\/\/www.vtmarkets.com\/cn\/uncategorized\/%e7%be%8e%e5%9b%bd%e5%9b%bd%e5%80%ba%e6%94%b6%e7%9b%8a%e7%8e%87%e5%9c%a8%e5%bc%ba%e5%8a%b2ppi%e6%95%b0%e6%8d%ae%e5%90%8e%e5%8d%87%e8%87%b32025%e5%b9%b4%e5%88%9d%e9%ab%98%e4%bd%8d%ef%bc%8c%e5%b8%82\/"},"modified":"2026-05-18T13:53:13","modified_gmt":"2026-05-18T13:53:13","slug":"%e7%be%8e%e5%9b%bd%e5%9b%bd%e5%80%ba%e6%94%b6%e7%9b%8a%e7%8e%87%e5%9c%a8%e5%bc%ba%e5%8a%b2ppi%e6%95%b0%e6%8d%ae%e5%90%8e%e5%8d%87%e8%87%b32025%e5%b9%b4%e5%88%9d%e9%ab%98%e4%bd%8d%ef%bc%8c%e5%b8%82","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/cn-asia\/live-updates\/%e7%be%8e%e5%9b%bd%e5%9b%bd%e5%80%ba%e6%94%b6%e7%9b%8a%e7%8e%87%e5%9c%a8%e5%bc%ba%e5%8a%b2ppi%e6%95%b0%e6%8d%ae%e5%90%8e%e5%8d%87%e8%87%b32025%e5%b9%b4%e5%88%9d%e9%ab%98%e4%bd%8d%ef%bc%8c%e5%b8%82\/","title":{"rendered":"\u7f8e\u56fd\u56fd\u503a\u6536\u76ca\u7387\u5728\u5f3a\u52b2PPI\u6570\u636e\u540e\u5347\u81f32025\u5e74\u521d\u9ad8\u4f4d\uff0c\u5e02\u573a\u518d\u5ea6\u805a\u7126\u7f8e\u8054\u50a8\u9e70\u6d3e\u8a00\u8bba"},"content":{"rendered":"

\u7f8e\u56fd\u56fd\u503a\u6536\u76ca\u7387\u5728\u6574\u4f53\u503a\u5238\u5e02\u573a\u629b\u552e\u540e\uff0c\u5347\u81f32025\u5e74\u521d\u4ee5\u6765\u6700\u9ad8\u6c34\u5e73\u3002\u6b64\u6b21\u4e0a\u5347\u53d1\u751f\u5728\u7f8e\u56fd\u901a\u80c0\u6570\u636e\u9ad8\u4e8e\u9884\u671f\u4e4b\u540e\uff1a4\u6708\u6700\u7ec8\u9700\u6c42PPI\uff08\u751f\u4ea7\u8005\u7269\u4ef7\u6307\u6570\uff0c\u53cd\u6620\u4f01\u4e1a\u5728\u51fa\u5382\u7aef\u6216\u6279\u53d1\u7aef\u7684\u4ef7\u683c\u53d8\u52a8\uff09\u540c\u6bd46%\uff0c\u4e3a2023\u5e74\u521d\u4ee5\u6765\u6700\u9ad8\u3002<\/p>\n

\u6536\u76ca\u7387\u4e0a\u5347\uff0c\u4ee5\u53ca\u6536\u76ca\u7387\u66f2\u7ebf\u51fa\u73b0\u201c\u770b\u8dcc\u5f0f\u9661\u5ced\u5316\u201d\uff08\u957f\u7aef\u6536\u76ca\u7387\u4e0a\u5347\u66f4\u5feb\uff0c\u901a\u5e38\u4ee3\u8868\u5e02\u573a\u9884\u671f\u901a\u80c0\u66f4\u987d\u56fa\u3001\u672a\u6765\u878d\u8d44\u6210\u672c\u66f4\u9ad8\uff09\uff0c\u4ee4\u7f8e\u8054\u50a8\u627f\u53d7\u66f4\u5927\u538b\u529b\uff0c\u53ef\u80fd\u8f6c\u5411\u66f4\u5f3a\u786c\u7684\u8868\u6001\uff0c\u5373\u4f7f\u77ed\u671f\u672a\u5fc5\u9a6c\u4e0a\u52a0\u606f\u3002\u76f8\u5173\u4e89\u8bba\u4e0e4\u6708FOMC\u4f1a\u8bae\uff08\u8054\u90a6\u516c\u5f00\u5e02\u573a\u59d4\u5458\u4f1a\uff0c\u7f8e\u8054\u50a8\u8d1f\u8d23\u5236\u5b9a\u5229\u7387\u7b49\u8d27\u5e01\u653f\u7b56\u7684\u4f1a\u8bae\uff09\u5185\u90e8\u51fa\u73b0\u5206\u6b67\u6709\u5173\uff0c\u5e02\u573a\u4e5f\u62c5\u5fc3\u653f\u7b56\u53cd\u5e94\u4f1a\u843d\u540e\u4e8e\u901a\u80c0\u8d70\u52bf\u3002<\/p>\n

Fed Pressure Builds<\/h3>\n

\u63a5\u4e0b\u6765\u7f8e\u8054\u50a8\u7684\u6c9f\u901a\u91cd\u70b9\u5305\u62ec\uff1a\u5468\u4e09\u516c\u5e03FOMC\u4f1a\u8bae\u7eaa\u8981\uff08\u4f1a\u8bae\u8ba8\u8bba\u5185\u5bb9\u6458\u8981\uff09\uff0c\u4ee5\u53ca\u514b\u91cc\u65af\u6258\u5f17\u00b7\u6c83\u52d2\uff08Christopher Waller\uff09\u660e\u5929\u4e0e\u5468\u4e94\u7684\u516c\u5f00\u8bb2\u8bdd\u3002\u82e5\u8868\u6001\u8f6c\u5411\u201c\u66f4\u9700\u8981\u52a0\u606f\u201d\uff0c\u53ef\u80fd\u4ee4\u6536\u76ca\u7387\u66f2\u7ebf\u8d8b\u4e8e\u5e73\u5766\uff08\u77ed\u7aef\u6536\u76ca\u7387\u66f4\u5feb\u4e0a\u5347\u6216\u957f\u77ed\u7aef\u5dee\u8ddd\u6536\u7a84\uff09\uff0c\u5e76\u652f\u6301\u7f8e\u5143\u8d70\u5f3a\u3002<\/p>\n

\u9ad8\u6cb9\u4ef7\u4e0e\u6536\u76ca\u7387\u8d70\u9ad8\u901a\u5e38\u88ab\u89c6\u4e3a\u5bf9\u98ce\u9669\u8d44\u4ea7\uff08\u5982\u80a1\u7968\u3001\u9ad8\u6536\u76ca\u503a\u7b49\uff09\u4e0d\u5229\uff0c\u4f46\u5bf9\u7f8e\u5143\u6709\u5229\u3002\u7f8e\u5143\u6307\u6570\uff08DXY\uff0c\u7528\u4e00\u7bee\u5b50\u4e3b\u8981\u8d27\u5e01\u8861\u91cf\u7f8e\u5143\u5f3a\u5f31\uff09\u77ed\u671f\u6280\u672f\u4f4d\u65b9\u9762\uff0c\u963b\u529b\u572899.50\uff0c\u652f\u6491\u572899.00\u9644\u8fd1\u3002<\/p>\n

\u7f8e\u56fd\u56fd\u503a\u6536\u76ca\u7387\u8d70\u9ad8\u8ba9\u5e02\u573a\u73af\u5883\u66f4\u5177\u6311\u6218\uff0c\u5e76\u63a8\u5347\u7f8e\u5143\u300210\u5e74\u671f\u7f8e\u503a\u6536\u76ca\u7387\u521a\u89e6\u53ca4.95%\uff0c\u4e3a2025\u5e74\u521d\u5e02\u573a\u5267\u70c8\u6ce2\u52a8\u4ee5\u6765\u672a\u89c1\u6c34\u5e73\u3002\u6536\u76ca\u7387\u4e0e\u7f8e\u5143\u540c\u6b65\u8d70\u5f3a\uff0c\u4ee4\u5176\u4ed6\u8d44\u4ea7\u627f\u538b\u3002<\/p>\n

\u4e3b\u8981\u63a8\u52a8\u56e0\u7d20\u662f\u901a\u80c0\u96be\u4ee5\u4e0b\u964d\uff1a4\u6708\u751f\u4ea7\u8005\u4ef7\u683c\u540c\u6bd4\u4e0a\u53476%\uff0c\u63a5\u8fd12023\u5e74\u521d\u7684\u5feb\u901f\u4e0a\u6da8\u6c34\u5e73\u3002\u518d\u52a0\u4e0a\u6700\u65b0CPI\uff08\u6d88\u8d39\u8005\u7269\u4ef7\u6307\u6570\uff0c\u53cd\u6620\u5c45\u6c11\u8d2d\u4e70\u5546\u54c1\u4e0e\u670d\u52a1\u7684\u4ef7\u683c\u53d8\u52a8\uff09\u4e3a5.2%\uff0c\u5e02\u573a\u4e0d\u5f97\u4e0d\u8003\u8651\u7f8e\u8054\u50a8\u53ef\u80fd\u201c\u843d\u540e\u4e8e\u5f62\u52bf\u201d\uff08\u653f\u7b56\u6536\u7d27\u529b\u5ea6\u8ddf\u4e0d\u4e0a\u901a\u80c0\uff09\u3002\u8fd9\u4e5f\u63a8\u9ad8\u4e86\u5e02\u573a\u5bf9\u592e\u884c\u5c06\u66f4\u5f3a\u786c\u8868\u6001\u7684\u62bc\u6ce8\u3002<\/p>\n

Positioning For Dollar Volatility<\/h3>\n

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\u7f8e\u5143\u6307\u6570\u76ee\u524d\u6d4b\u8bd599.50\u9644\u8fd1\u963b\u529b\uff0c\u53ef\u8003\u8651\u91c7\u7528\u5728\u7a81\u7834\u65f6\u53d7\u76ca\u7684\u7b56\u7565\u3002\u4f8b\u5982\u201c\u770b\u6da8\u4ef7\u5dee\u7b56\u7565\u201d\uff08call spread\uff1a\u540c\u65f6\u4e70\u5165\u8f83\u4f4e\u884c\u6743\u4ef7\u770b\u6da8\u671f\u6743\u3001\u5356\u51fa\u8f83\u9ad8\u884c\u6743\u4ef7\u770b\u6da8\u671f\u6743\uff0c\u4ee5\u964d\u4f4e\u6210\u672c\uff0c\u4f46\u4e5f\u9650\u5236\u6700\u5927\u83b7\u5229\uff09\uff0c\u82e5\u672c\u5468\u7f8e\u8054\u50a8\u8a00\u8bba\u504f\u5f3a\u786c\uff0c\u8fd9\u53ef\u80fd\u662f\u76f8\u5bf9\u7701\u6210\u672c\u7684\u505a\u591a\u65b9\u5f0f\uff0c\u76f4\u63a5\u62bc\u6ce8\u7f8e\u5143\u77ed\u671f\u8d70\u5f3a\u3002<\/p>\n

\u8fd9\u7c7b\u73af\u5883\u4e5f\u4e0d\u5229\u4e8e\u80a1\u5e02\uff0c\u56e0\u4e3a\u501f\u8d37\u6210\u672c\u4e0a\u5347\u4e0e\u5f3a\u52bf\u7f8e\u5143\u4f1a\u538b\u7f29\u4f01\u4e1a\u76c8\u5229\u3002\u53ef\u8003\u8651\u4e70\u5165\u4e3b\u8981\u80a1\u6307\uff08\u5982\u6807\u666e500\uff09\u770b\u8dcc\u671f\u6743\uff08put options\uff1a\u5728\u4ef7\u683c\u4e0b\u8dcc\u65f6\u83b7\u5229\u6216\u7528\u4e8e\u5bf9\u51b2\u7684\u5408\u7ea6\uff09\u4f5c\u4e3a\u5bf9\u51b2\uff0c\u4ee5\u9632\u5e02\u573a\u8f6c\u5f31\u3002\u8fd9\u662f\u8f83\u5178\u578b\u7684\u9632\u5b88\u505a\u6cd5\uff0c\u7c7b\u4f3c2022\u5e74\u5feb\u901f\u52a0\u606f\u5468\u671f\u4e2d\u5e38\u89c1\u7684\u98ce\u9669\u7ba1\u7406\u65b9\u5f0f\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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