{"id":38470,"date":"2026-02-17T13:32:43","date_gmt":"2026-02-17T13:32:43","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/mufg%ec%9d%98-%eb%8d%b0%eb%a6%ad-%ed%95%a0%ed%8e%98%eb%8b%88%eb%8a%94-jgb%ec%9d%bc%eb%b3%b8-%ea%b5%ad%ec%b1%84-%ea%b0%9c%ec%84%a0%ec%9c%bc%eb%a1%9c-%ec%9e%ac%ec%a0%95-%ec%9a%b0%eb%a0%a4%ea%b0%80\/"},"modified":"2026-02-17T13:32:43","modified_gmt":"2026-02-17T13:32:43","slug":"mufg%ec%9d%98-%eb%8d%b0%eb%a6%ad-%ed%95%a0%ed%8e%98%eb%8b%88%eb%8a%94-jgb%ec%9d%bc%eb%b3%b8-%ea%b5%ad%ec%b1%84-%ea%b0%9c%ec%84%a0%ec%9c%bc%eb%a1%9c-%ec%9e%ac%ec%a0%95-%ec%9a%b0%eb%a0%a4%ea%b0%80","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/mufg%ec%9d%98-%eb%8d%b0%eb%a6%ad-%ed%95%a0%ed%8e%98%eb%8b%88%eb%8a%94-jgb%ec%9d%bc%eb%b3%b8-%ea%b5%ad%ec%b1%84-%ea%b0%9c%ec%84%a0%ec%9c%bc%eb%a1%9c-%ec%9e%ac%ec%a0%95-%ec%9a%b0%eb%a0%a4%ea%b0%80\/","title":{"rendered":"MUFG\uc758 \ub370\ub9ad \ud560\ud398\ub2c8\ub294 JGB(\uc77c\ubcf8 \uad6d\ucc44) \uac1c\uc120\uc73c\ub85c \uc7ac\uc815 \uc6b0\ub824\uac00 \uc644\ud654\ub410\ub2e4\uace0 \uc5b8\uae09\ud588\uc73c\uba70, \uae08\ub9ac \ud558\ub77d \uc18d\uc5d0 \uc704\ud5d8\ud68c\ud53c \uc2ec\ub9ac\uac00 \uc6b0\uc138\ud574 \uc5d4\ud654\uac00 G10 \ud1b5\ud654 \uac00\uc6b4\ub370 \uac15\uc138\ub97c \uc8fc\ub3c4\ud588\ub2e4."},"content":{"rendered":"\uae00\ub85c\ubc8c \uc2dc\uc7a5\uc740 \uc704\ud5d8 \ud68c\ud53c \ubd84\uc704\uae30\ub97c \ubcf4\uc600\uace0, \ubbf8\uad6d \uad6d\ucc44 \uae08\ub9ac\ub294 \ud558\ub77d\ud588\uc73c\uba70 \uc8fc\uc2dd\uc740 \uc57d\uc138\uc600\uc2b5\ub2c8\ub2e4. G10(\ubbf8\uad6d \ub2ec\ub7ec, \uc720\ub85c, \uc5d4, \ud30c\uc6b4\ub4dc \ub4f1 \uc8fc\uc694 10\uac1c \ud1b5\ud654) \uc678\ud658 \uc2dc\uc7a5\uc5d0\uc11c\ub294 \uc77c\ubcf8 \uc5d4\ud654\uac00 \uac00\uc7a5 \uac15\ud588\uace0, \uae08\uacfc \uc740 \uac00\uaca9\uc740 \ud558\ub77d\ud588\uc2b5\ub2c8\ub2e4.\n\n\uc5d4\ud654\ub294 \uc77c\ubcf8 \uad6d\ucc44(JGB: \uc77c\ubcf8 \uc815\ubd80\uac00 \ubc1c\ud589\ud558\ub294 \uad6d\ucc44) \uac00\uaca9\uc774 \ud06c\uac8c \uc624\ub974\uba74\uc11c(=\ucc44\uad8c \uac00\uaca9 \uc0c1\uc2b9\uc740 \ubcf4\ud1b5 \uae08\ub9ac \ud558\ub77d\uacfc \ud568\uaed8 \uc6c0\uc9c1\uc784) \uc9c0\uc9c0\ub97c \ubc1b\uc558\uc2b5\ub2c8\ub2e4. 5\ub144\ubb3c JGB \uc785\ucc30(\uc815\ubd80\uac00 \uc2e0\uaddc \uad6d\ucc44\ub97c \ud30c\ub294 \ud589\uc0ac)\uc5d0\uc11c\ub3c4 \uc218\uc694\uac00 \ud0c4\ud0c4\ud588\uc73c\uba70, \uc751\ucc30\ubc30\uc728(bid-to-cover ratio: \ud314 \ubb3c\ub7c9 \ub300\ube44 \ub4e4\uc5b4\uc628 \uc8fc\ubb38 \uaddc\ubaa8 \ube44\uc728)\uc774 3.1\ub85c 12\uac1c\uc6d4 \ud3c9\uade0 3.48\ubcf4\ub2e4 \ub0ae\uc558\uc9c0\ub9cc \uc5ec\uc804\ud788 \uacac\uc870\ud55c \ud3b8\uc774\uc5c8\uc2b5\ub2c8\ub2e4.\n\n<h3>\uc77c\ubcf8 \uc7ac\uc815 \uc2e0\ud638\uc640 \uc2dc\uc7a5 \ubc18\uc751<\/h3>\n\ubcf4\ub3c4\uc5d0 \ub530\ub974\uba74 \ub2e4\uce74\uc774\uce58 \ucd1d\ub9ac\ub294 \uc7ac\uc815 \uc6b4\uc601(\uc815\ubd80\uc758 \uc138\uae08\u00b7\uc9c0\ucd9c\u00b7\uad6d\ucc44 \ubc1c\ud589\uc744 \uc5b4\ub5bb\uac8c \uad00\ub9ac\ud558\ub294\uc9c0)\uc5d0 \ub300\ud55c \uc870\uce58\ub97c \ub2f4\uc740 \uc5f0\uc124\uc744 \ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4. \ubcf4\ub3c4 \ub0b4\uc6a9\uc740 \uc774\ub7f0 \uc870\uce58\uac00 \uc77c\ubcf8 \uc7ac\uc815\uc5d0 \ub300\ud55c \uc2dc\uc7a5\uc758 \uc6b0\ub824\ub97c \uc904\uc774\uae30 \uc704\ud55c \uac83\uc774\ub77c\uace0 \uc124\uba85\ud588\uc2b5\ub2c8\ub2e4.\n\n\ud574\ub2f9 \uae00\uc740 \uc774\ub7f0 \uc6b0\ub824\uac00 \uc904\uba74\uc11c \uc5d4\ud654\uc640 \uad00\ub828\ub41c \uc7ac\uc815 \uc704\ud5d8 \ud504\ub9ac\ubbf8\uc5c4(risk premium: \ubd88\ud655\uc2e4\uc131 \ub54c\ubb38\uc5d0 \ud22c\uc790\uc790\uac00 \ucd94\uac00\ub85c \uc694\uad6c\ud558\ub294 \ubcf4\uc0c1)\uc774 \ub0ae\uc544\uc9c0\uace0 \uc788\ub2e4\uace0 \uc804\ud588\uc2b5\ub2c8\ub2e4. \ub610\ud55c AI \ub3c4\uad6c\uc758 \ub3c4\uc6c0\uc73c\ub85c \uc791\uc131\ub410\uace0 \ud3b8\uc9d1\uc790\uac00 \uac80\ud1a0\ud588\ub2e4\uace0 \ub367\ubd99\uc600\uc2b5\ub2c8\ub2e4.\n\n\uc2dc\uc7a5 \uc804\ubc18\uc5d0 \uc704\ud5d8 \ud68c\ud53c \ud750\ub984\uc774 \ub098\ud0c0\ub098\uba74\uc11c, \uc6b0\ub9ac\ub294 \uc77c\ubcf8 \uc5d4\ud654\uac00 \uc120\ud638\ub418\ub294 \uc548\uc804\uc790\uc0b0(safe-haven: \ubd88\uc548\ud560 \ub54c \ub3c8\uc774 \ubab0\ub9ac\ub294 \uc790\uc0b0)\uc73c\ub85c \uac15\uc138\ub97c \ubcf4\uc778\ub2e4\uace0 \ubd05\ub2c8\ub2e4. USD\/JPY(\ub2ec\ub7ec\/\uc5d4 \ud658\uc728)\ub294 \ud604\uc7ac 147.50 \uc218\uc900\uc744 \uc2dc\ud5d8 \uc911\uc774\uba70, \ucd5c\uadfc \uba87 \uc8fc\ubcf4\ub2e4 \uc758\ubbf8 \uc788\uac8c \ub0b4\ub824\uc628 \uc0c1\ud0dc\uc785\ub2c8\ub2e4. \ud30c\uc0dd\uc0c1\ud488(derivatives: \uac00\uce58\uac00 \ud658\uc728\u00b7\uae08\ub9ac \uac19\uc740 \uae30\ucd08\uc790\uc0b0\uc5d0 \ub530\ub77c \uc6c0\uc9c1\uc774\ub294 \uc0c1\ud488) \uac70\ub798\uc790\ub294 \uae00\ub85c\ubc8c \uc8fc\uc2dd\uc2dc\uc7a5\uc774 \ubd88\uc548\ud574 \ubcf4\uc774\ubbc0\ub85c \uc5d4\ud654 \ucd94\uac00 \uac15\uc138\ub97c \uc608\uc0c1\ud560 \ud544\uc694\uac00 \uc788\uc2b5\ub2c8\ub2e4.\n\n\uc774 \ud658\uacbd\uc5d0\uc11c\ub294 \ucd94\uac00 \ud558\ub77d(\ub2ec\ub7ec\/\uc5d4 \ud558\ub77d=\uc5d4 \uac15\uc138)\uc5d0 \ub300\ube44\ud574 \uc5d4 \ucf5c\uc635\uc158(JPY call option: \uc815\ud574\uc9c4 \uac00\uaca9\uc5d0 \uc5d4\ud654\ub97c \uc0b4 \uc218 \uc788\ub294 \uad8c\ub9ac) \ub9e4\uc218, \ub610\ub294 USD\/JPY \ucf5c \uc2a4\ud504\ub808\ub4dc(call spread: \uc11c\ub85c \ub2e4\ub978 \ud589\uc0ac\uac00\uc758 \ucf5c\uc635\uc158\uc744 \ud568\uaed8 \uc0ac\uace0\ud30c\ub294 \uad6c\uc870) \ub9e4\ub3c4\ub97c \uace0\ub824\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ud604\uc7ac \ud750\ub984\uc744 \uace0\ub824\ud558\uba74 3~4\uc6d4 \ub9cc\uae30\uc5d0\uc11c 145.00 \uc544\ub798 \ud589\uc0ac\uac00\ub97c \ub178\ub9ac\ub294 \uac83\uc774 \uc2e0\uc911\ud574 \ubcf4\uc785\ub2c8\ub2e4. \uc55e\uc11c \uc5b8\uae09\ub41c \uc7ac\uc815 \uc6b0\ub824 \uc644\ud654\ub294 \uadf8\ub3d9\uc548 \uc5d4 \uac15\uc138\ub97c \ub9c9\uc544\uc628 \ubd80\ub2f4 \uc694\uc778(headwind: \uac00\uaca9 \uc0c1\uc2b9\uc744 \ubc29\ud574\ud558\ub294 \uc694\uc778) \ud558\ub098\ub97c \uc904\uc774\uace0 \uc788\uc2b5\ub2c8\ub2e4.\n\n<h3>JGB \uc548\uc815\uacfc BOJ\uc758 \uc120\ud0dd \ud3ed<\/h3>\n\uc77c\ubcf8 \uad6d\ucc44 \uc2dc\uc7a5\uc758 \uc548\uc815, \uc989 10\ub144\ubb3c \uae08\ub9ac\uac00 0.74% \ubd80\uadfc\uc5d0\uc11c \ube44\uad50\uc801 \uc548\uc815\uc801\uc73c\ub85c \uc720\uc9c0\ub418\ub294 \uc810\uc774 \uc774\ub7f0 \uc6c0\uc9c1\uc784\uc744 \ub4b7\ubc1b\uce68\ud569\ub2c8\ub2e4. JGB \uc2dc\uc7a5\uc774 \uac15\ud558\uba74(\uad6d\ucc44 \uc218\uc694\uac00 \uc88b\uace0 \ubcc0\ub3d9\uc774 \uc801\uc73c\uba74) \uc77c\ubcf8\uc740\ud589(BOJ)\uc740 \uc62c\ud574 \ud6c4\ubc18\uc5d0 \ucd08\uc644\ud654 \ud1b5\ud654\uc815\ucc45(ultra-loose monetary policy: \ub0ae\uc740 \uae08\ub9ac\uc640 \ub9ce\uc740 \uc790\uae08 \uacf5\uae09\uc744 \uc624\ub798 \uc720\uc9c0\ud558\ub294 \uc815\ucc45)\uc5d0\uc11c \ubc97\uc5b4\ub0a0 \uc120\ud0dd \ud3ed\uc774 \ucee4\uc9d1\ub2c8\ub2e4. \uc2dc\uc7a5\uc740 \uc774\uc81c \uc815\ucc45 \ubcc0\ud654 \uac00\ub2a5\uc131\uc744 \ub354 \ub192\uac8c \ubcf4\uace0 \uc788\uc73c\uba70, \uc774\ub294 \uae30\ubcf8\uc801\uc73c\ub85c \uc5d4\ud654\uc5d0 \uae0d\uc815\uc801\uc785\ub2c8\ub2e4.\n\n\uc6b0\ub9ac\ub294 2025\ub144 \uc2dc\uc810\uc5d0\uc11c \ub3cc\uc544\ubcf4\uba74, \uadf8 \uc804 \uba87 \ub144 \ub3d9\uc548 USD\/JPY\uac00 151\uc744 \ub118\uc5c8\ub358 \ub9e4\uc6b0 \uc57d\ud55c \uc5d4\ud654 \uad6d\uba74\uc744 \ub5a0\uc62c\ub9bd\ub2c8\ub2e4. \uadf8 \uc218\uc900\uc740 \uc815\ucc45 \ucc28\uc774(policy divergence: \ub098\ub77c\ubcc4 \uae08\ub9ac\u00b7\uc815\ucc45\uc774 \ud06c\uac8c \ub2ec\ub77c\uc9c0\ub294 \ud604\uc0c1)\uc640 \uc7ac\uc815 \ubd88\uc548\uc774 \uc6d0\uc778\uc774\uc5c8\uc2b5\ub2c8\ub2e4. \uc9c0\uae08 \uc0c1\ud669\uc740 \uadf8 \uc2dc\uae30\uc5d0\uc11c \uad6c\uc870\uc801\uc73c\ub85c(\uc77c\uc2dc\uc801\uc774 \uc544\ub2c8\ub77c \uacbd\uc81c\u00b7\uc815\ucc45 \ud658\uacbd \uc790\uccb4\uac00) \ubc97\uc5b4\ub098\ub294 \ubcc0\ud654\ucc98\ub7fc \ubcf4\uc785\ub2c8\ub2e4. \uc774\ub294 \uc218\ub144\uac04 \uc774\uc5b4\uc9c4 \uc5d4 \uc57d\uc138 \ud750\ub984\uc774 \ubc29\ud5a5\uc744 \ubc14\uafb8\uace0 \uc788\uc744 \uc218 \uc788\uc74c\uc744 \uc2dc\uc0ac\ud569\ub2c8\ub2e4.\n\n\ub530\ub77c\uc11c \uc5d4\ud654 \ubcc0\ub3d9\uc131(volatility: \uac00\uaca9\uc774 \ud754\ub4e4\ub9ac\ub294 \uc815\ub3c4)\ub3c4 \uc0b4\ud3b4\ubd10\uc57c \ud558\uba70, \ud604\uc7ac\ub294 \ub192\uc544\uc9c4 \uc0c1\ud0dc\uc785\ub2c8\ub2e4. \uc7ac\uc815 \uc704\ud5d8\uc774 \uc904\uba74 EUR\/JPY, USD\/JPY \uac19\uc740 \ud1b5\ud654\uc30d\uc758 \uc7a5\uae30 \ub9cc\uae30 \ub0b4\uc7ac\ubcc0\ub3d9\uc131(implied volatility: \uc635\uc158 \uac00\uaca9\uc5d0 \ubc18\uc601\ub41c \u2018\uc608\uc0c1 \ubcc0\ub3d9\uc131\u2019)\uc740 \ub0b4\ub824\uac08 \uac00\ub2a5\uc131\uc774 \uc788\uc2b5\ub2c8\ub2e4. \uc2a4\ud2b8\ub7ad\uae00(strangle: \uc704\u00b7\uc544\ub798 \uc11c\ub85c \ub2e4\ub978 \ud589\uc0ac\uac00\uc758 \ucf5c\uacfc \ud48b\uc744 \ud568\uaed8 \ud30c\ub294\/\uc0ac\uc11c \ubcc0\ub3d9\uc131\uc5d0 \ubca0\ud305\ud558\ub294 \uc804\ub7b5) \uac19\uc740 \ubc29\ubc95\uc73c\ub85c \uc7a5\uae30 \ubcc0\ub3d9\uc131\uc744 \uc77c\ubd80 \ub9e4\ub3c4\ud574 \ud504\ub9ac\ubbf8\uc5c4(premium: \uc635\uc158 \uac00\uaca9, \ubc1b\ub294 \ub3c8)\uc744 \ubc1b\ub294 \uc804\ub7b5\uc774 \ud6a8\uacfc\uc801\uc77c \uc218 \uc788\uc2b5\ub2c8\ub2e4.\n\n<b><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">VT Markets \ub77c\uc774\ube0c \uacc4\uc815 \ub9cc\ub4e4\uae30<\/a>\u00a0\ubc0f\u00a0<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">\uc9c0\uae08 \uac70\ub798 \uc2dc\uc791<\/a>. <\/b>\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>\uae00\ub85c\ubc8c \u2018\ub9ac\uc2a4\ud06c\uc624\ud504\u2019\ub85c \ubbf8 \uad6d\ucc44\uae08\ub9ac\u00b7\uc8fc\uc2dd \uc57d\uc138, \uc5d4\ud654\uac00 \uc548\uc804\uc790\uc0b0\uc73c\ub85c \uac15\uc138. JGB \uae09\ub4f1\u00b7\uc785\ucc30 \ud638\uc870\uc640 \uc7ac\uc815 \uc6b0\ub824 \uc644\ud654, BOJ \uc815\ucc45\uc804\ud658 \uae30\ub300\uac00 \uc5d4 \uc0c1\uc2b9\uc744 \ub4b7\ubc1b\uce68; \uae08\u00b7\uc740\uc740 \ud558\ub77d. &#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-38470","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\/38470","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=38470"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/38470\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=38470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=38470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=38470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}