{"id":38345,"date":"2026-02-16T09:23:49","date_gmt":"2026-02-16T09:23:49","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/dbs%ec%9d%98-%ed%95%84%eb%a6%bd-%ec%9c%84-%ec%97%b0%ec%a4%80-%ec%a7%80%eb%8f%84%eb%b6%80%ec%97%90-%eb%8c%80%ed%95%9c-%ec%9d%98%ea%b5%ac%ec%8b%ac%c2%b7%ed%83%88%eb%8b%ac%eb%9f%ac%ed%99%94%c2%b7\/"},"modified":"2026-02-16T09:23:49","modified_gmt":"2026-02-16T09:23:49","slug":"dbs%ec%9d%98-%ed%95%84%eb%a6%bd-%ec%9c%84-%ec%97%b0%ec%a4%80-%ec%a7%80%eb%8f%84%eb%b6%80%ec%97%90-%eb%8c%80%ed%95%9c-%ec%9d%98%ea%b5%ac%ec%8b%ac%c2%b7%ed%83%88%eb%8b%ac%eb%9f%ac%ed%99%94%c2%b7","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/dbs%ec%9d%98-%ed%95%84%eb%a6%bd-%ec%9c%84-%ec%97%b0%ec%a4%80-%ec%a7%80%eb%8f%84%eb%b6%80%ec%97%90-%eb%8c%80%ed%95%9c-%ec%9d%98%ea%b5%ac%ec%8b%ac%c2%b7%ed%83%88%eb%8b%ac%eb%9f%ac%ed%99%94%c2%b7\/","title":{"rendered":"DBS\uc758 \ud544\ub9bd \uc704, \uc5f0\uc900 \uc9c0\ub3c4\ubd80\uc5d0 \ub300\ud55c \uc758\uad6c\uc2ec\u00b7\ud0c8\ub2ec\ub7ec\ud654\u00b7\ubbf8\uad6d \uc911\uac04\uc120\uac70 \uc815\uce58 \ub9ac\uc2a4\ud06c\ub97c \uadfc\uac70\ub85c \ubbf8\ub2ec\ub7ec \uc804\ub9dd \ud558\ud5a5 \uc870\uc815"},"content":{"rendered":"DBS\uadf8\ub8f9 \ub9ac\uc11c\uce58\uc758 \ud544\ub9bd \uc704(Philip Wee)\ub294 \ubbf8\uad6d \ub2ec\ub7ec(US Dollar)\uac00 \ub300\ubd80\ubd84\uc758 \uc8fc\uc694 \ud1b5\ud654\uc640 \uc544\uc2dc\uc544 \ud1b5\ud654\uc5d0 \ub300\ud574 \uc57d\uc138\uac00 \ub420 \uac83\uc774\ub77c\ub294 \uae30\uc874 \uc804\ub9dd\uce58\ub97c \ub0ae\ucdc4\ub2e4. \uc774\ubc88 \ubcc0\uacbd\uc740 \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Federal Reserve, \ubbf8\uad6d\uc758 \uc911\uc559\uc740\ud589)\uc758 \uc9c0\ub3c4\ubd80\uc640 \ub3c5\ub9bd\uc131(\uc815\uce58\ub85c\ubd80\ud130 \uc815\ucc45\uc744 \uc2a4\uc2a4\ub85c \uacb0\uc815\ud560 \uc218 \uc788\ub294 \ub2a5\ub825)\uc5d0 \ub300\ud55c \ubd88\ud655\uc2e4\uc131, \ud0c8\ub2ec\ub7ec\ud654(de-dollarisation, \uad6d\uc81c \uac70\ub798\u00b7\ubcf4\uc720 \uc790\uc0b0\uc5d0\uc11c \ub2ec\ub7ec \ube44\uc911\uc744 \uc904\uc774\ub294 \ud750\ub984), \uadf8\ub9ac\uace0 11\uc6d4 \uc911\uac04\uc120\uac70(\ubbf8\uad6d \uc758\ud68c\uc758 \uc911\uac04\uc120\uac70)\ub97c \uc55e\ub454 \ubbf8\uad6d \uc815\uce58 \uc704\ud5d8\uacfc \uad00\ub828\uc774 \uc788\ub2e4.\n\n\uadf8\ub294 \ub2ec\ub7ec\uac00 \ub354 \uc774\uc0c1 \uae08\ub9ac \ucc28\uc774(interest rate differentials, \ubbf8\uad6d\uacfc \ub2e4\ub978 \ub098\ub77c\uc758 \uae08\ub9ac \ucc28\uc774\uc5d0\uc11c \uc0dd\uae30\ub294 \ub9e4\ub825)\uc640 \u2018\ubbf8\uad6d \uacbd\uc81c\uc758 \uc608\uc678\uc801 \uac15\uc138(US economic exceptionalism, \ub2e4\ub978 \ub098\ub77c\ubcf4\ub2e4 \ubbf8\uad6d \uacbd\uc81c\uac00 \ub354 \uac15\ud558\ub2e4\ub294 \uae30\ub300)\u2019\uc5d0\uc11c \uac19\uc740 \uc218\uc900\uc758 \uc9c0\uc9c0\ub97c \ubc1b\uc9c0 \ubabb\ud55c\ub2e4\uace0 \ub9d0\ud55c\ub2e4. \ub610\ud55c \uc774\uc81c\ub294 \uc81c\ub3c4\uc5d0 \ub300\ud55c \uc2e0\ub8b0(institutional credibility, \uc911\uc559\uc740\ud589\u00b7\uc815\ubd80 \uac19\uc740 \uae30\uad00\uc774 \uc57d\uc18d\uacfc \uc6d0\uce59\uc744 \uc9c0\ud0ac \uac83\uc774\ub77c\ub294 \ubbff\uc74c)\uc640 \uc815\uce58\uac00 \ud658\uc728 \ubcc0\ub3d9\uc758 \ud575\uc2ec \uc694\uc778\uc774\ub77c\uace0 \ub367\ubd99\uc600\ub2e4.\n\nDBS\ub294 2026\ub144 \ud558\ubc18\uae30(2H26, 2026\ub144\uc758 7~12\uc6d4)\uc5d0 \uc5f0\uc900\uc774 \uae30\uc900\uae08\ub9ac\ub97c \ub450 \ubc88 \uc778\ud558\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ud55c\ub2e4. \ubcf4\uace0\uc11c\ub294 \ub610\ud55c \ud0c8\ub2ec\ub7ec\ud654\uac00 \uacc4\uc18d\ub420 \uac83\uc774\ub77c\uace0 \ubc1d\ud614\ub2e4.\n\n\ub2ec\ub7ec \uc804\ub9dd\uc744 \ub0ae\ucd94\ub294 \uc774\uc720\ub294, \ub2ec\ub7ec\uac00 \ub354 \uc774\uc0c1 \uae08\ub9ac \ucc28\uc774 \ub610\ub294 \u2018\ubbf8\uad6d\ub9cc \ub354 \uc798 \ub098\uac04\ub2e4\u2019\ub294 \uae30\ub300\uc5d0\uc11c \ucda9\ubd84\ud55c \uc9c0\uc9c0\ub97c \ubc1b\uc9c0 \ubabb\ud558\uae30 \ub54c\ubb38\uc774\ub2e4. \ub300\uc2e0 \uc81c\ub3c4\uc5d0 \ub300\ud55c \uc2e0\ub8b0\uc640 \uc815\uce58 \uc704\ud5d8\uc774 \uc131\uacfc\ub97c \uc88c\uc6b0\ud558\ub294 \uc8fc\ub41c \uc694\uc778\uc774 \ub418\uace0 \uc788\ub2e4. \uc6b0\ub9ac\ub294 2026\ub144 \ud558\ubc18\uae30\uc5d0 \uc5f0\uc900\uc758 \uae30\uc900\uae08\ub9ac \uc778\ud558\uac00 \ub450 \ubc88 \uc788\uc744 \uac83\uc73c\ub85c \ubcf8\ub2e4.\n\n\uc774 \ubcc0\ud654\ub294 \ucd5c\uadfc \ub370\uc774\ud130\uac00 \ubbf8\uad6d\uacfc \ub2e4\ub978 \uc8fc\uc694 \uacbd\uc81c\uad8c \uc0ac\uc774\uc758 \uc131\uc7a5 \uaca9\ucc28\uac00 \uc904\uace0 \uc788\uc74c\uc744 \ud655\uc778\ud574 \uc8fc\uae30 \ub54c\ubb38\uc5d0 \ub098\ud0c0\ub0ac\ub2e4. \uc608\ub97c \ub4e4\uc5b4 2025\ub144 4\ubd84\uae30 \ubbf8\uad6d \uad6d\ub0b4\ucd1d\uc0dd\uc0b0(GDP, \ud55c \ub098\ub77c\uc5d0\uc11c \uc77c\uc815 \uae30\uac04 \uc0dd\uc0b0\ub41c \uc7ac\ud654\u00b7\uc11c\ube44\uc2a4\uc758 \ucd1d\ud569) \uc131\uc7a5\ub960\uc740 1.9%\uc600\uace0, \uc720\ub85c\uc874(Eurozone, \uc720\ub85c\ud654\ub97c \uc4f0\ub294 \uc720\ub7fd \uad6d\uac00\ub4e4)\uc758 \ud68c\ubcf5\uc740 \uc608\uc0c1\ubcf4\ub2e4 \uac15\ud55c 1.6%\ub97c \uae30\ub85d\ud574, \uacfc\uac70 \ub2ec\ub7ec\uc5d0 \uc720\ub9ac\ud588\ub358 \uaca9\ucc28\uac00 \uc904\uc5c8\ub2e4. \uc774\ub294 \u2018\uacbd\uc81c \uc131\uacfc\uac00 \ub354 \uc88b\uae30 \ub54c\ubb38\uc5d0 \ub2ec\ub7ec\uac00 \uac15\ud558\ub2e4\u2019\ub294 \ub17c\ub9ac\uac00 \uc57d\ud574\uc9c0\uace0 \uc788\uc74c\uc744 \uc2dc\uc0ac\ud55c\ub2e4.\n\n\uc6b0\ub9ac\ub294 \uc5f0\uc900\uc774 \uc62c\ud574 \ud558\ubc18\uae30\ubd80\ud130 \uae08\ub9ac\ub97c \ub0b4\ub9ac\uae30 \uc2dc\uc791\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ud558\uc9c0\ub9cc, \ub2e4\ub978 \uc911\uc559\uc740\ud589\ub4e4\uc740 \uac19\uc740 \ubc29\ud5a5\uc774 \uc544\ub2d0 \uc218 \uc788\ub2e4. \uc608\ub97c \ub4e4\uc5b4 \uc720\ub7fd\uc911\uc559\uc740\ud589(ECB, \uc720\ub85c\uc874\uc758 \uc911\uc559\uc740\ud589)\uc740 2026\ub144 1\uc6d4 \ud68c\uc758\uc5d0\uc11c \uae08\ub9ac\ub97c \ub3d9\uacb0\ud588\ub294\ub370, \uadf8 \ubc30\uacbd\uc73c\ub85c \uadfc\uc6d0 \uc778\ud50c\ub808\uc774\uc158(underlying\/core inflation, \uc2dd\ub8cc\ud488\u00b7\uc5d0\ub108\uc9c0\ucc98\ub7fc \ubcc0\ub3d9\uc774 \ud070 \ud56d\ubaa9\uc744 \uc81c\uc678\ud55c \ubb3c\uac00 \uc0c1\uc2b9)\uc774 \uacc4\uc18d\ub418\uace0 \uc788\ub2e4\ub294 \uc810\uc744 \ub4e4\uc5c8\ub2e4. \uc774\ub7f0 \ud750\ub984\uc740 \ub2ec\ub7ec\uc758 \uc218\uc775\ub960 \uc6b0\uc704(yield advantage, \ub354 \ub192\uc740 \uae08\ub9ac\uc5d0\uc11c \uc624\ub294 \uc774\uc810)\ub97c \uc904\uc778\ub2e4. \ud1b5\ud654\uc815\ucc45(monetary policy, \uae30\uc900\uae08\ub9ac \uc870\uc815 \ub4f1\uc73c\ub85c \uacbd\uae30\u00b7\ubb3c\uac00\ub97c \uad00\ub9ac\ud558\ub294 \uc815\ucc45) \ubc29\ud5a5\uc774 \uac08\ub9ac\uba74, \ub2ec\ub7ec\ub97c \ubc1b\uccd0 \uc8fc\ub358 \uc911\uc694\ud55c \ubc84\ud300\ubaa9 \ud558\ub098\uac00 \uc57d\ud574\uc9c4\ub2e4.\n\n\ub2ec\ub7ec\uc5d0\uc11c \uc810\ucc28 \ubc97\uc5b4\ub098\ub824\ub294 \uc6c0\uc9c1\uc784\ub3c4 \uacc4\uc18d\ud574\uc11c \ubd80\ub2f4\uc73c\ub85c \uc791\uc6a9\ud558\uace0 \uc788\ub2e4. 2025\ub144 \ub9d0\uc5d0 \ub098\uc628 \uad6d\uc81c\ud1b5\ud654\uae30\uae08(IMF, \uad6d\uc81c \uae08\uc735 \ud611\ub825\uc744 \ub2f4\ub2f9\ud558\ub294 \uad6d\uc81c\uae30\uad6c) \uc790\ub8cc\uc5d0\uc11c, \uc911\uc559\uc740\ud589 \uc678\ud658\ubcf4\uc720\uc561(reserves, \uc704\uae30 \ub300\uc751 \ub4f1\uc744 \uc704\ud574 \ubcf4\uc720\ud558\ub294 \uc678\ud654 \uc790\uc0b0) \uc911 \ub2ec\ub7ec \ube44\uc911\uc740 57.9%\ub85c \uc0c8 \ucd5c\uc800\uce58\ub97c \uae30\ub85d\ud588\ub2e4. \uc774\ub294 \uc7a5\uae30\uc801\uc778 \uad6c\uc870\uc801 \ud750\ub984(\uc624\ub798 \uc9c0\uc18d\ub418\ub294 \ud070 \ubcc0\ud654)\uc774\uba70, \uc11c\uc11c\ud788 \ub2ec\ub7ec \uac00\uce58\uc5d0 \ubd80\ub2f4\uc744 \uc900\ub2e4.\n\n\uc774\ub7f0 \ud658\uacbd\uc5d0\uc11c\ub294 \ub2ec\ub7ec\/\ub2e4\ub978 \ud1b5\ud654\uc758 \uc635\uc158(\uc635\uc158, \ubbf8\ub9ac \uc815\ud55c \uac00\uaca9\uc5d0 \uc0ac\uace0\ud314 \uad8c\ub9ac)\uc5d0\uc11c \ub0b4\uc7ac\ubcc0\ub3d9\uc131(implied volatility, \uc635\uc158 \uac00\uaca9\uc5d0 \ubc18\uc601\ub41c \u2018\uc2dc\uc7a5 \uc608\uc0c1 \ubcc0\ub3d9\uc131\u2019)\uc774 \uc55e\uc73c\ub85c \uba87 \ub2ec \ub3d9\uc548 \uc624\ub97c \uac00\ub2a5\uc131\uc774 \ud06c\ub2e4. \ud2b8\ub808\uc774\ub354(\uae08\uc735\uc2dc\uc7a5\uc5d0\uc11c \ub2e8\uae30 \ub9e4\ub9e4\ub97c \ud558\ub294 \uc0ac\ub78c)\ub294 \uc635\uc158 \uac00\uaca9\uc744 \ubcf4\uba74\uc11c, \ubcc0\ub3d9\uc131\uc774 \ucee4\uc9c8 \ub54c\ub97c \ub300\ube44\ud55c \ud5e4\uc9c0(hedge, \uc190\uc2e4 \uc704\ud5d8\uc744 \uc904\uc774\uae30 \uc704\ud55c \uac70\ub798)\ub098 \ubcc0\ub3d9\uc131 \ud655\ub300\ub97c \ud65c\uc6a9\ud558\ub294 \uac70\ub798 \uae30\ud68c\ub97c \uc810\uac80\ud560 \ud544\uc694\uac00 \uc788\ub2e4. \uc9c0\uae08\uc740 \ub2e8\uc21c\ud788 \u2018\uacbd\uc81c\uac00 \uac15\ud574\uc11c \ud1b5\ud654\uac00 \uac15\ud558\ub2e4\u2019\ub294 \uad6d\uba74\uc774\ub77c\uae30\ubcf4\ub2e4, \uc815\uce58\uc640 \uc815\ucc45\uc758 \ubd88\ud655\uc2e4\uc131\uc744 \uad00\ub9ac\ud574\uc57c \ud558\ub294 \ud658\uacbd\uc774\ub2e4.\n\n<!-- wp:paragraph-->\n<p><b>VT Markets \ub77c\uc774\ube0c \uacc4\uc815\uc744 \ub9cc\ub4e4\uace0 \uc9c0\uae08 \ubc14\ub85c <a href=\"https:\/\/www.vtmarkets.com\/kr\/trade-now\/\">\uac70\ub798<\/a>\ub97c \uc2dc\uc791\ud558\uc138\uc694.<\/b><\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>\ub2ec\ub7ec \uc57d\uc138 \uc2e0\ud638? DBS\ub294 \uc5f0\uc900 \ub3c5\ub9bd\uc131 \ubd88\ud655\uc2e4\uc131, \ud0c8\ub2ec\ub7ec\ud654, \ubbf8 \uc815\uce58 \ub9ac\uc2a4\ud06c\ub85c \ub2ec\ub7ec \uc804\ub9dd\uc744 \ud558\ud5a5. \uae08\ub9ac\ucc28\u00b7\ubbf8\uad6d \uc608\uc678\uc8fc\uc758 \uc57d\ud654, 2026\ub144 \ud558\ubc18\uae30 \ub450 \ucc28\ub840 \uc778\ud558\uc640 \ubcc0\ub3d9\uc131 \ud655\ub300\ub97c \uc608\uc0c1. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":62,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-38345","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\/kr-asia\/wp-json\/wp\/v2\/posts\/38345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/comments?post=38345"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/38345\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=38345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=38345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=38345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}