{"id":47357,"date":"2026-05-20T20:19:53","date_gmt":"2026-05-20T20:19:53","guid":{"rendered":"https:\/\/www.vtmarkets.com\/cn\/uncategorized\/%e7%be%8e%e5%85%83-%e5%8a%a0%e5%85%83%e5%9c%a8%e5%8a%a0%e6%8b%bf%e5%a4%a7cpi%e7%96%b2%e5%bc%b1%e5%90%8e%e8%b5%b0%e9%ab%98%ef%bc%9b%e5%a4%ae%e8%a1%8c%e6%8c%89%e5%85%b5%e4%b8%8d%e5%8a%a8%e4%b9%8b\/"},"modified":"2026-05-20T20:19:53","modified_gmt":"2026-05-20T20:19:53","slug":"%e7%be%8e%e5%85%83-%e5%8a%a0%e5%85%83%e5%9c%a8%e5%8a%a0%e6%8b%bf%e5%a4%a7cpi%e7%96%b2%e5%bc%b1%e5%90%8e%e8%b5%b0%e9%ab%98%ef%bc%9b%e5%a4%ae%e8%a1%8c%e6%8c%89%e5%85%b5%e4%b8%8d%e5%8a%a8%e4%b9%8b","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/cn\/live-updates\/%e7%be%8e%e5%85%83-%e5%8a%a0%e5%85%83%e5%9c%a8%e5%8a%a0%e6%8b%bf%e5%a4%a7cpi%e7%96%b2%e5%bc%b1%e5%90%8e%e8%b5%b0%e9%ab%98%ef%bc%9b%e5%a4%ae%e8%a1%8c%e6%8c%89%e5%85%b5%e4%b8%8d%e5%8a%a8%e4%b9%8b\/","title":{"rendered":"\u7f8e\u5143\/\u52a0\u5143\u5728\u52a0\u62ff\u5927CPI\u75b2\u5f31\u540e\u8d70\u9ad8\uff1b\u592e\u884c\u6309\u5175\u4e0d\u52a8\u4e4b\u9645\uff0c\u4ea4\u6613\u5458\u5173\u6ce81.3815\u6c34\u5e73"},"content":{"rendered":"

\u7f8e\u5143\/\u52a0\u5143\u57281.3773\u9644\u8fd1\u4ea4\u6613\uff0c\u52a0\u5143\u56e0\u6d88\u8d39\u8005\u7269\u4ef7\u6307\u6570\uff08CPI\uff0c\u8861\u91cf\u901a\u80c0\u7684\u6307\u6807\uff09\u4f4e\u4e8e\u9884\u671f\u800c\u8868\u73b0\u843d\u540e\u3002CPI\u5728\u90e8\u5206\u9879\u76ee\uff08\u5305\u62ec\u670d\u52a1\uff09\u8d70\u8f6f\uff0c\u800c\u6838\u5fc3\u5546\u54c1\uff08\u5254\u9664\u6ce2\u52a8\u8f83\u5927\u7684\u9879\u76ee\u540e\u3001\u66f4\u80fd\u53cd\u6620\u8d8b\u52bf\u7684\u5546\u54c1\u4ef7\u683c\uff09\u5219\u5f55\u5f97\u4e0a\u6da8\u3002<\/p>\n

\u6570\u636e\u6697\u793a\u52a0\u62ff\u5927\u592e\u884c\uff08Bank of Canada\uff0c\u8d1f\u8d23\u5236\u5b9a\u52a0\u62ff\u5927\u5229\u7387\u7684\u4e2d\u592e\u94f6\u884c\uff09\u77ed\u671f\u66f4\u53ef\u80fd\u7ef4\u6301\u5229\u7387\u4e0d\u53d8\u3002\u540c\u65f6\u4e5f\u63d0\u5230\uff0c\u5168\u7403\u4ef7\u683c\u538b\u529b\u53ef\u80fd\u5728\u672a\u6765\u6570\u6708\u5f71\u54cd\u52a0\u62ff\u5927\u3002<\/p>\n

\u9a71\u52a8\u56e0\u7d20\u4e0e\u5408\u7406\u4ef7\u503c\u80cc\u666f<\/h3>\n

\u524d\u7aef\u5229\u7387\u4e92\u6362\u5229\u5dee\uff08front-end swap spreads\uff0c\u6307\u77ed\u671f\u9650\u5229\u7387\u4e92\u6362\u4e0e\u5bf9\u5e94\u57fa\u51c6\u5229\u7387\/\u503a\u5238\u4e4b\u95f4\u7684\u5dee\u8ddd\uff0c\u7528\u6765\u53cd\u6620\u77ed\u671f\u5229\u7387\u9884\u671f\u4e0e\u8d44\u91d1\u4f9b\u9700\uff09\u6269\u5927\uff0c\u7f8e\u5143\/\u52a0\u5143\u7684\u4f30\u7b97\u57fa\u672c\u9762\u5747\u8861\u6c34\u5e73\uff08fundamental equilibrium\uff0c\u7ed3\u5408\u7ecf\u6d4e\u4e0e\u5229\u7387\u7b49\u56e0\u7d20\u63a8\u7b97\u7684\u201c\u5408\u7406\u201d\u6c47\u7387\uff09\u4e0a\u8c03\u81f31.3567\u3002\u73b0\u8d27\u6c47\u7387\u88ab\u63cf\u8ff0\u4e3a\u9ad8\u4e8e\u5176\u5408\u7406\u4ef7\u503c\u4f30\u7b97\u8d85\u8fc7\u4e00\u4e2a\u6807\u51c6\u5dee\uff08standard deviation\uff0c\u7528\u6765\u8861\u91cf\u504f\u79bb\u7a0b\u5ea6\uff1b\u8d85\u8fc7\u4e00\u4e2a\u6807\u51c6\u5dee\u901a\u5e38\u4ee3\u8868\u504f\u79bb\u8f83\u5927\uff09\u3002<\/p>\n

\u7f8e\u5143\/\u52a0\u5143\u5347\u78341.3758\u768450%\u56de\u64a4\u4f4d\uff0850% retracement\uff0c\u5e38\u89c1\u6280\u672f\u5206\u6790\u6c34\u5e73\uff0c\u8861\u91cf\u4e00\u6bb5\u4e0b\u8dcc\u540e\u53cd\u5f39\u5230\u4e00\u534a\u7684\u4f4d\u7f6e\uff09\uff0c\u8be5\u6c34\u5e73\u57fa\u4e8e3\u670831\u65e5\u81f35\u67081\u65e5\u7684\u8dcc\u5e45\u8ba1\u7b97\u3002\u77ed\u671f\u4e0a\u65b9\u53c2\u8003\u533a\u95f4\u4e3a1.3800\u81f31.3815\u3002<\/p>\n

2025\u5e745\u6708\uff0c\u52a0\u62ff\u5927\u504f\u8f6f\u7684\u901a\u80c0\u62a5\u544a\u660e\u663e\u62d6\u7d2f\u52a0\u5143\u3002\u4ef7\u683c\u610f\u5916\u8d70\u8f6f\u8ba9\u52a0\u62ff\u5927\u592e\u884c\u9009\u62e9\u89c2\u671b\uff0c\u540c\u65f6\u63a8\u52a8\u7f8e\u5143\/\u52a0\u5143\u4e0a\u884c\u81f3\u63a5\u8fd11.3773\u3002\u7f8e\u56fd\u4e0e\u52a0\u62ff\u5927\u7684\u5229\u7387\u5dee\uff08interest rate spreads\uff0c\u4e24\u56fd\u5229\u7387\u6c34\u5e73\u7684\u5dee\u8ddd\uff0c\u5dee\u8ddd\u6269\u5927\u5f80\u5f80\u5229\u597d\u9ad8\u5229\u7387\u4e00\u65b9\u8d27\u5e01\uff09\u8fdb\u4e00\u6b65\u5f3a\u5316\u8be5\u8d27\u5e01\u5bf9\u7684\u4e0a\u884c\u52a8\u80fd\u3002<\/p>\n

\u9274\u4e8e\u7a81\u7834\u5173\u952e\u6280\u672f\u963b\u529b\uff08technical resistance\uff0c\u4ef7\u683c\u4e0a\u884c\u65f6\u5bb9\u6613\u9047\u5230\u5356\u538b\u7684\u4ef7\u4f4d\uff09\uff0c\u5f53\u65f6\u6211\u4eec\u7684\u5373\u65f6\u7b56\u7565\u662f\u5e03\u5c40\u672a\u6765\u6570\u5468\u7f8e\u5143\u8d70\u5f3a\u3002\u505a\u6cd5\u662f\u4e70\u5165\u8fd1\u671f\u9650\u7f8e\u5143\u770b\u6da8\u671f\u6743\uff08USD call options\uff0c\u8d4b\u4e88\u5728\u5230\u671f\u524d\/\u5230\u671f\u65f6\u4ee5\u7ea6\u5b9a\u4ef7\u683c\u4e70\u5165\u7f8e\u5143\u7684\u6743\u5229\uff09\u5bf9\u51b2\u52a0\u5143\uff0c\u76ee\u6807\u770b\u54111.3800\u81f31.3815\u533a\u95f4\u3002\u8fd9\u6837\u65e2\u80fd\u628a\u63e1\u52a0\u62ff\u5927\u6570\u636e\u504f\u5f31\u5e26\u6765\u7684\u673a\u4f1a\uff0c\u4e5f\u80fd\u660e\u786e\u98ce\u9669\u4e0a\u9650\uff08\u671f\u6743\u6700\u5927\u4e8f\u635f\u901a\u5e38\u4e3a\u5df2\u4ed8\u6743\u5229\u91d1\uff09\u3002<\/p>\n

\u5f53\u524d\u73af\u5883\u4e0b\u7684\u7b56\u7565\u66f4\u65b0<\/h3>\n

\u4f46\u6211\u4eec\u4e5f\u6ce8\u610f\u5230\uff0c\u8be5\u8d27\u5e01\u5bf9\u5f53\u65f6\u9ad8\u4e8e\u4f30\u7b97\u5408\u7406\u4ef7\u503c\u8d85\u8fc7\u4e00\u4e2a\u6807\u51c6\u5dee\uff0c\u610f\u5473\u7740\u6da8\u52bf\u8fc7\u5ea6\uff0c\u56de\u8c03\u98ce\u9669\u66f4\u9ad8\u3002\u5386\u53f2\u4e0a\uff0c\u8fd9\u79cd\u504f\u79bb\u5f80\u5f80\u4f1a\u4fee\u6b63\uff1b\u6b63\u59822025\u5e74\u7a0d\u540e\uff0c\u7f8e\u5143\/\u52a0\u5143\u5728\u7b2c\u4e09\u5b63\u56de\u843d\u81f3\u63a5\u8fd11.36\u6c34\u5e73\u3002<\/p>\n

\u628a\u8fd9\u4e00\u7ecf\u9a8c\u653e\u5230\u4eca\u5929\uff0c\u60c5\u51b5\u5df2\u6539\u53d8\u3002\u52a0\u62ff\u59272026\u5e744\u6708\u6700\u65b0\u603b\u4f53\u901a\u80c0\u4e3a2.9%\uff0c\u6838\u5fc3\u901a\u80c0\u4f9d\u7136\u504f\u9ad8\u4e14\u201c\u9ecf\u6027\u201d\u5f3a\uff08sticky\uff0c\u6307\u4e0d\u5bb9\u6613\u5feb\u901f\u56de\u843d\uff09\uff0c\u6301\u7eed\u9ad8\u4e8e\u52a0\u62ff\u5927\u592e\u884c\u76ee\u6807\u3002\u8fd9\u79cd\u6301\u7eed\u6027\u4f7f\u52a0\u62ff\u5927\u592e\u884c\u5728\u77ed\u671f\u5185\u66f4\u4e0d\u53ef\u80fd\u50cf2025\u5e74\u9884\u671f\u90a3\u6837\u964d\u606f\u3002<\/p>\n

\u56e0\u6b64\uff0c\u5728\u7f8e\u5143\/\u52a0\u5143\u76ee\u524d\u7ea61.3650\u7684\u60c5\u51b5\u4e0b\uff0c\u4e4b\u524d\u7684\u7b56\u7565\u5df2\u4e0d\u9002\u7528\u3002\u73b0\u5728\u5e94\u8003\u8651\u5356\u51fa\u4e0a\u884c\u6ce2\u52a8\uff08selling upside volatility\uff0c\u901a\u8fc7\u5356\u51fa\u671f\u6743\u8d5a\u53d6\u6743\u5229\u91d1\uff0c\u62bc\u6ce8\u4ef7\u683c\u4e0d\u5927\u6da8\uff09\uff0c\u505a\u6cd5\u662f\u5356\u51fa\u4ef7\u5916\u7f8e\u5143\u770b\u6da8\u671f\u6743\uff08out-of-the-money USD calls\uff0c\u884c\u6743\u4ef7\u9ad8\u4e8e\u5f53\u524d\u4ef7\u683c\u7684\u770b\u6da8\u671f\u6743\uff09\u3002\u6838\u5fc3\u903b\u8f91\u662f\u52a0\u62ff\u5927\u901a\u80c0\u504f\u9ad8\u4e3a\u52a0\u5143\u63d0\u4f9b\u652f\u6491\uff08floor\uff0c\u8f83\u96be\u5927\u5e45\u8d70\u5f31\uff09\u3002\u82e5\u672a\u6765\u51e0\u5468\u6c47\u4ef7\u7ef4\u6301\u533a\u95f4\u9707\u8361\u6216\u56de\u843d\uff0c\u8be5\u4ed3\u4f4d\u66f4\u6709\u5229\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u52a0\u5143\u610f\u5916\u8d70\u8f6f\u66fe\u63a8\u9ad8\u7f8e\u5143\/\u52a0\u5143\u81f31.3773\uff0c\u4f30\u503c\u504f\u79bb\u52a0\u5267\u56de\u8c03\u98ce\u9669\u3002\u5982\u4eca\u52a0\u62ff\u5927\u6838\u5fc3\u901a\u80c0\u9ecf\u6027\u652f\u6491\u52a0\u5143\uff0c\u7b56\u7565\u8f6c\u5411\u5356\u51fa\u4ef7\u5916\u7f8e\u5143\u770b\u6da8\u671f\u6743\uff0c\u535a\u6c47\u4ef7\u9707\u8361\u56de\u843d\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-47357","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\/47357","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=47357"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/posts\/47357\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/media?parent=47357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/categories?post=47357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/tags?post=47357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}