{"id":47154,"date":"2026-05-18T21:57:47","date_gmt":"2026-05-18T21:57:47","guid":{"rendered":"https:\/\/www.vtmarkets.com\/cn\/uncategorized\/%e7%be%8e%e5%9b%bd%e4%bd%8f%e5%ae%85%e5%bb%ba%e5%95%86%e4%bf%a1%e5%bf%835%e6%9c%88%e5%b0%8f%e5%b9%85%e5%9b%9e%e5%8d%87%ef%bc%8c%e5%a2%9e%e6%b7%bb%e7%be%8e%e8%81%94%e5%82%a8%e9%99%8d%e6%81%af%e9%a2%84\/"},"modified":"2026-05-18T21:57:47","modified_gmt":"2026-05-18T21:57:47","slug":"%e7%be%8e%e5%9b%bd%e4%bd%8f%e5%ae%85%e5%bb%ba%e5%95%86%e4%bf%a1%e5%bf%835%e6%9c%88%e5%b0%8f%e5%b9%85%e5%9b%9e%e5%8d%87%ef%bc%8c%e5%a2%9e%e6%b7%bb%e7%be%8e%e8%81%94%e5%82%a8%e9%99%8d%e6%81%af%e9%a2%84","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/cn\/live-updates\/%e7%be%8e%e5%9b%bd%e4%bd%8f%e5%ae%85%e5%bb%ba%e5%95%86%e4%bf%a1%e5%bf%835%e6%9c%88%e5%b0%8f%e5%b9%85%e5%9b%9e%e5%8d%87%ef%bc%8c%e5%a2%9e%e6%b7%bb%e7%be%8e%e8%81%94%e5%82%a8%e9%99%8d%e6%81%af%e9%a2%84\/","title":{"rendered":"\u7f8e\u56fd\u4f4f\u5b85\u5efa\u5546\u4fe1\u5fc35\u6708\u5c0f\u5e45\u56de\u5347\uff0c\u589e\u6dfb\u7f8e\u8054\u50a8\u964d\u606f\u9884\u671f\u53d8\u6570"},"content":{"rendered":"<p>\u7f8e\u56fd5\u6708NAHB\u623f\u5c4b\u5e02\u573a\u6307\u6570\uff08\u8861\u91cf\u7f8e\u56fd\u623f\u5c4b\u5efa\u7b51\u5546\u5bf9\u697c\u5e02\u72b6\u51b5\u7684\u4fe1\u5fc3\uff09\u5e02\u573a\u539f\u672c\u9884\u8ba1\u4e3a35\uff0c\u5b9e\u9645\u4e3a37\u3002<\/p>\n<p>\u8fd9\u9879\u7ed3\u679c\u6bd4\u9884\u6d4b\u9ad8\u51fa2\u70b9\u3002\u8be5\u6307\u6570\u53cd\u6620\u623f\u5c4b\u5efa\u7b51\u5546\u5bf9\u4f4f\u623f\u5e02\u573a\u73b0\u51b5\u4e0e\u524d\u666f\u7684\u770b\u6cd5\uff0c\u6570\u503c\u8d8a\u9ad8\u4ee3\u8868\u4fe1\u5fc3\u8d8a\u5f3a\u3002<\/p>\n<h3>\u623f\u5c4b\u5efa\u7b51\u5546\u4fe1\u5fc3\u56de\u5347<\/h3>\n<p>5\u6708NAHB\u623f\u5c4b\u5e02\u573a\u6307\u6570\u5f55\u5f9737\uff0c\u9ad8\u4e8e\u9884\u671f\u768435\u3002\u867d\u7136\u5efa\u7b51\u5546\u6574\u4f53\u4fe1\u5fc3\u4ecd\u504f\u60b2\u89c2\uff0c\u4f46\u6539\u5584\u901f\u5ea6\u5feb\u8fc7\u5e02\u573a\u9884\u6599\u3002\u6211\u4eec\u8ba4\u4e3a\uff0c\u8fd9\u53ef\u80fd\u610f\u5473\u7740\u57282025\u5e74\u653e\u7f13\u4e4b\u540e\uff0c\u623f\u5730\u4ea7\u5e02\u573a\u6b63\u9010\u6b65\u63a5\u8fd1\u201c\u5e95\u90e8\u201d\uff08\u4e0b\u8dcc\u63a5\u8fd1\u5c3e\u58f0\u3001\u5f00\u59cb\u4f01\u7a33\uff09\u3002<\/p>\n<p>\u8fd9\u4efd\u7565\u504f\u5f3a\u7684\u623f\u5e02\u6570\u636e\uff0c\u8ba9\u7f8e\u56fd\u8054\u50a8\u5c40\uff08Federal Reserve\uff0c\u7b80\u79f0Fed\uff0c\u5373\u7f8e\u56fd\u4e2d\u592e\u94f6\u884c\uff09\u7684\u653f\u7b56\u5224\u65ad\u66f4\u590d\u6742\uff0c\u5c24\u51764\u6708\u6838\u5fc3CPI\uff08Core CPI\uff0c\u5254\u9664\u6ce2\u52a8\u8f83\u5927\u7684\u98df\u54c1\u4e0e\u80fd\u6e90\u4ef7\u683c\u540e\u7684\u901a\u80c0\u6307\u6807\uff0c\u66f4\u80fd\u53cd\u6620\u957f\u671f\u901a\u80c0\u8d8b\u52bf\uff09\u4ecd\u9ad8\u8fbe3.1%\u3002\u572830\u5e74\u671f\u56fa\u5b9a\u623f\u8d37\u5229\u7387\uff08\u56fa\u5b9a\u4e0d\u53d8\u7684\u957f\u671f\u623f\u8d37\u5229\u7387\uff09\u4ecd\u7ea66.5%\u4e0d\u6613\u4e0b\u8dcc\u7684\u60c5\u51b5\u4e0b\uff0c\u4efb\u4f55\u884c\u4e1a\u8d70\u5f3a\u8ff9\u8c61\u90fd\u53ef\u80fd\u964d\u4f4eFed\u5c3d\u5feb\u964d\u606f\u7684\u538b\u529b\u3002\u56e0\u6b64\uff0c\u6211\u4eec\u5173\u6ce8\u8054\u90a6\u57fa\u91d1\u5229\u7387\u671f\u8d27\uff08fed funds futures\uff0c\u7528\u6765\u62bc\u6ce8\u672a\u6765\u653f\u7b56\u5229\u7387\u8d70\u5411\u7684\u671f\u8d27\u5408\u7ea6\uff09\u662f\u5426\u51fa\u73b0\u53d8\u5316\uff1b\u76ee\u524d\u5b9a\u4ef7\u663e\u793a\uff0c\u5e02\u573a\u8ba4\u4e3a\u5728\u7b2c\u4e09\u5b63\u524d\u964d\u606f\u7684\u6982\u7387\u7ea640%\u3002<\/p>\n<p>\u5bf9\u884d\u751f\u54c1\u4ea4\u6613\u8005\uff08derivatives traders\uff0c\u4e70\u5356\u671f\u6743\u3001\u671f\u8d27\u7b49\u201c\u884d\u751f\u5de5\u5177\u201d\u7684\u4ea4\u6613\u8005\uff09\u6765\u8bf4\uff0c\u8fd9\u53ef\u80fd\u5e26\u6765\u56f4\u7ed5\u623f\u5c4b\u5efa\u7b51\u5546ETF\uff08\u4ea4\u6613\u6240\u4e70\u5356\u57fa\u91d1\uff0c\u7528\u4e00\u7bee\u5b50\u80a1\u7968\u8ffd\u8e2a\u884c\u4e1a\u8868\u73b0\uff09\u5982XHB\u7684\u4ea4\u6613\u673a\u4f1a\u3002\u7531\u4e8e\u201c\u6570\u636e\u610f\u5916\u504f\u597d\u201d\u4e0e\u201c\u9ad8\u623f\u8d37\u5229\u7387\u201d\u5e76\u5b58\uff0c\u76f8\u5173ETF\u7684\u9690\u542b\u6ce2\u52a8\u7387\uff08implied volatility\uff0c\u671f\u6743\u4ef7\u683c\u53cd\u6620\u7684\u672a\u6765\u53ef\u80fd\u6ce2\u52a8\u5927\u5c0f\uff0c\u8d8a\u9ad8\u4ee3\u8868\u5e02\u573a\u9884\u8ba1\u6ce2\u52a8\u8d8a\u5927\uff09\u672a\u6765\u51e0\u5468\u53ef\u80fd\u4e0a\u5347\u3002\u5356\u51fa\u73b0\u91d1\u62c5\u4fdd\u8ba4\u6cbd\u671f\u6743\uff08cash-secured puts\uff0c\u5356\u51fa\u770b\u8dcc\u671f\u6743\u5e76\u9884\u7559\u8db3\u591f\u73b0\u91d1\uff0c\u82e5\u88ab\u884c\u6743\u5c31\u4ee5\u7ea6\u5b9a\u4ef7\u683c\u4e70\u5165\u80a1\u7968\uff09\u5728\u4e3b\u8981\u5efa\u7b51\u5546\u80a1\u7968\u4e0a\uff0c\u53ef\u80fd\u662f\u53ef\u884c\u7b56\u7565\uff1a\u53ef\u8d5a\u53d6\u8f83\u9ad8\u7684\u671f\u6743\u6743\u5229\u91d1\uff08premium\uff0c\u671f\u6743\u4e70\u65b9\u652f\u4ed8\u7ed9\u5356\u65b9\u7684\u8d39\u7528\uff09\uff0c\u540c\u65f6\u4e3a\u81ea\u5df1\u8bbe\u5b9a\u8f83\u5177\u5438\u5f15\u529b\u7684\u6f5c\u5728\u4e70\u5165\u4ef7\u4f4d\u3002<\/p>\n<p>\u8fd9\u7c7b\u623f\u5e02\u97e7\u6027\u4e5f\u4f1a\u5f71\u54cd\u5229\u7387\u884d\u751f\u54c1\uff08interest rate derivatives\uff0c\u4ef7\u683c\u968f\u5229\u7387\u53d8\u5316\u7684\u671f\u8d27\u4e0e\u671f\u6743\uff09\uff0c\u5c24\u5176\u662f\u7f8e\u56fd\u56fd\u503a\u671f\u8d27\u671f\u6743\uff08options on Treasury note futures\uff0c\u5728\u56fd\u503a\u671f\u8d27\u4e0a\u4e70\u5356\u7684\u671f\u6743\uff09\u3002\u5982\u679c\u540e\u7eed\u6570\u636e\u7ee7\u7eed\u786e\u8ba4\u7ecf\u6d4e\u504f\u5f3a\uff0c\u53ef\u80fd\u63a8\u8fdf\u5e02\u573a\u5bf9\u964d\u606f\u7684\u9884\u671f\uff0c\u4f7f\u77ed\u5929\u671f\u56fd\u503a\u671f\u8d27\u7684\u770b\u6da8\u671f\u6743\uff08call options\uff0c\u4e0a\u6da8\u624d\u66f4\u6709\u5229\u7684\u671f\u6743\uff09\u5438\u5f15\u529b\u4e0b\u964d\u3002\u53c2\u80032024\u5e74\u5468\u671f\u503a\u5e02\u6ce2\u52a8\uff08bond market volatility\uff0c\u503a\u5238\u4ef7\u683c\u5927\u5e45\u8d77\u843d\uff09\u7ecf\u5386\uff0c\u6211\u4eec\u8ba4\u4e3a\u5728\u901a\u80c0\u8d8b\u52bf\u66f4\u660e\u786e\u524d\uff0c\u91c7\u53d6\u66f4\u8c28\u614e\u7684\u7acb\u573a\u8f83\u5408\u9002\u3002<\/p>\n<h3>\u5229\u7387\u4e0e\u6ce2\u52a8\u7387\u7684\u5f71\u54cd<\/h3>\n","protected":false},"excerpt":{"rendered":"<p>\u7f8e\u56fd5\u6708NAHB\u6307\u657037\u9ad8\u4e8e\u9884\u671f35\uff0c\u5efa\u5546\u4fe1\u5fc3\u56de\u5347\uff0c\u697c\u5e02\u6216\u903c\u8fd1\u5e95\u90e8\u3002\u6570\u636e\u504f\u5f3a\u53e0\u52a0\u6838\u5fc3\u901a\u80c0\u9ad8\u3001\u623f\u8d37\u5229\u73876.5%\uff0cFed\u964d\u606f\u66f4\u96be\u3002\u5173\u6ce8\u5229\u7387\u671f\u8d27\u4e0eXHB\u6ce2\u52a8\u7387\u3001\u5356\u73b0\u91d1\u62c5\u4fdd\u8ba4\u6cbd\u673a\u4f1a\u3002<\/p>\n","protected":false},"author":103,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-47154","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/posts\/47154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/comments?post=47154"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/posts\/47154\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/media?parent=47154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/categories?post=47154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/tags?post=47154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}