{"id":40595,"date":"2026-03-11T18:47:19","date_gmt":"2026-03-11T18:47:19","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/%eb%b0%a5-%ec%83%88%eb%b9%84%ec%a7%80-%ec%9d%b4%eb%9e%80-%ea%b8%b4%ec%9e%a5-%ea%b3%a0%ec%a1%b0%ec%97%90-%ec%8b%a0%ed%9d%a5%ea%b5%ad-%ec%b1%84%ea%b6%8c-%ea%b4%91%eb%b2%94%ec%9c%84%ed%95%9c\/"},"modified":"2026-03-11T18:47:19","modified_gmt":"2026-03-11T18:47:19","slug":"%eb%b0%a5-%ec%83%88%eb%b9%84%ec%a7%80-%ec%9d%b4%eb%9e%80-%ea%b8%b4%ec%9e%a5-%ea%b3%a0%ec%a1%b0%ec%97%90-%ec%8b%a0%ed%9d%a5%ea%b5%ad-%ec%b1%84%ea%b6%8c-%ea%b4%91%eb%b2%94%ec%9c%84%ed%95%9c","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/%eb%b0%a5-%ec%83%88%eb%b9%84%ec%a7%80-%ec%9d%b4%eb%9e%80-%ea%b8%b4%ec%9e%a5-%ea%b3%a0%ec%a1%b0%ec%97%90-%ec%8b%a0%ed%9d%a5%ea%b5%ad-%ec%b1%84%ea%b6%8c-%ea%b4%91%eb%b2%94%ec%9c%84%ed%95%9c\/","title":{"rendered":"\ubc25 \uc0c8\ube44\uc9c0 \u201c\uc774\ub780 \uae34\uc7a5 \uace0\uc870\uc5d0 \uc2e0\ud765\uad6d \ucc44\uad8c \uad11\ubc94\uc704\ud55c \ub9e4\ub3c4\u2026\ubbf8 \uad6d\ucc44\u00b7\ub3c5\uc77c \uad6d\ucc44 \uc218\uc694 \uc99d\uac00\u201d"},"content":{"rendered":"BNY \ub370\uc774\ud130\uc5d0 \ub530\ub974\uba74 \uc774\ub780 \ubd84\uc7c1\uc73c\ub85c \ud22c\uc790\uc790\ub4e4\uc758 **\uc704\ud5d8 \ud68c\ud53c \uc131\ud5a5(\ub9ac\uc2a4\ud06c\ub97c \ud53c\ud558\ub824\ub294 \uc2ec\ub9ac)**\uc774 \ucee4\uc9c0\uba74\uc11c **\uc2e0\ud765\uad6d(EM) \uad6d\ucc44(\uc815\ubd80\uac00 \ubc1c\ud589\ud55c \ucc44\uad8c)**\uac00 \uc9c0\uc5ed \uc804\ubc18\uc5d0\uc11c **\ub3d9\uc2dc\uc5d0 \ub9e4\ub3c4**\ub418\uace0 \uc788\ub2e4. \uc2e0\ud765\uad6d **\ucc44\uad8c\uc2dc\uc7a5(\uace0\uc815\uae08\ub9ac \uc790\uc0b0 \uc804\ubc18)**\uc740 \uad11\ubc94\uc704\ud55c **\uc21c\ub9e4\ub3c4(\ub9e4\uc218\ubcf4\ub2e4 \ub9e4\ub3c4\uac00 \ub9ce\uc740 \uc0c1\ud0dc)**\ub85c \uc804\ud658\ub410\uace0, \uc790\uae08\uc740 **\ubbf8\uad6d \uad6d\ucc44(\ubbf8 \uc815\ubd80 \ucc44\uad8c)**, **\ub3c5\uc77c \uad6d\ucc44(Bund\u00b7\ub3c5\uc77c \uc815\ubd80 \ucc44\uad8c)** \ub4f1 **G10(\ubbf8\uad6d\u00b7\ub3c5\uc77c \ub4f1 \uc8fc\uc694 10\uac1c \uc120\uc9c4\uad6d) \uc6b0\ub7c9 \uc790\uc0b0**\uc73c\ub85c \uc774\ub3d9\ud588\ub2e4.\n\n\uc774\ubc88 \ud750\ub984\uc740 \uc55e\uc11c \uc9c4\ud589\ub410\ub358 **\uc2e0\ud765\uad6d \ub4c0\ub808\uc774\uc158(\uae08\ub9ac \ubcc0\ud654\uc5d0 \ub300\ud55c \ucc44\uad8c \uac00\uaca9 \ubbfc\uac10\ub3c4)** \ud655\ub300, \uc989 \ub9cc\uae30\uac00 \uae34 \uc2e0\ud765\uad6d \ucc44\uad8c\uc73c\ub85c\uc758 **\ubd84\uc0b0 \ud22c\uc790**\ub97c \ub418\ub3cc\ub9ac\ub294 \uc6c0\uc9c1\uc784\uc774\ub2e4. \ub610\ud55c \uc9c0\uc5ed\ubcc4 \ubcc0\ub3d9\uc744 \uc904\uc5ec \ubcf4\ub294 **\uc2a4\ubb34\ub529(\ub2e8\uae30 \ub178\uc774\uc988\ub97c \uc904\uc774\uae30 \uc704\ud55c \ud1b5\uacc4 \ucc98\ub9ac)** \uae30\uc900\uc73c\ub85c\ub294 \uc62c\ud574 \ub4e4\uc5b4 \uac00\uc7a5 \uac15\ud55c \uc2e0\ud765\uad6d \ub9e4\ub3c4 \ud750\ub984\uc73c\ub85c \ud3c9\uac00\ub410\ub2e4. \uc804\uc7c1\uc774 \uc810\uc9c4\uc801\uc73c\ub85c \uc644\ud654\ub420 \uc218 \uc788\ub2e4\ub294 \uc5b8\uae09\uc774 \uc788\uc5c8\uc74c\uc5d0\ub3c4 **\ub9e4\ub3c4 \ubc94\uc704**\ub294 \ub354 \ub113\uc5b4\uc84c\ub2e4.\n\n<h3>Emerging Market Debt Flows Shift<\/h3>\nBNY\uc758 \ucd5c\uc2e0 \uc5c5\ub370\uc774\ud2b8\uc5d0 \ub530\ub974\uba74 \uc911\ub0a8\ubbf8 \uc77c\ubd80 \uc2dc\uc7a5\uc744 \uc81c\uc678\ud558\uba74 \uc2e0\ud765\uad6d \ucc44\uad8c \uc2dc\uc7a5 \ub300\ubd80\ubd84\uc774 \ud604\uc7ac **\uc21c\ub9e4\ub3c4** \uc0c1\ud0dc\ub2e4. \ucd5c\ub300 \uc218\ud61c \uc790\uc0b0\uc740 **\ubbf8\uad6d \uad6d\ucc44**\ub85c \uc9c0\ubaa9\ub410\uace0, **\ub3c5\uc77c \uad6d\ucc44(Bund)** \ubc0f \uae30\ud0c0 **G10 \ud575\uc2ec \ucc44\uad8c(\uc2e0\uc6a9\ub3c4\uac00 \ub192\uc740 \uc120\uc9c4\uad6d \uad6d\ucc44)**\uc73c\ub85c\ub3c4 \uc790\uae08 \uc720\uc785\uc774 \ud655\uc778\ub410\ub2e4.\n\n\uc2e0\ud765\uad6d 3\uac1c \uc9c0\uc5ed \ubaa8\ub450\uc5d0\uc11c \uc9c0\ub09c\uc8fc \ub9e4\ub3c4 \uac15\ub3c4\ub294 \uc62c\ud574 \ub4e4\uc5b4 \uc8fc\uac04 \uae30\uc900(\uc2a4\ubb34\ub529 \uc801\uc6a9)\uc73c\ub85c \uac00\uc7a5 \ucef8\ub2e4. \ub610\ud55c \uc774\ubc88 \uc5c5\ub370\uc774\ud2b8\ub294 \uacfc\uac70\uc758 \uc790\uae08 \ud750\ub984\uacfc \uc9c0\ub09c\uc8fc \ud328\ud134 \uc0ac\uc774\uc5d0 \ub69c\ub837\ud55c \uc5f0\uad00\uc131\uc774 \uc5c6\uc5c8\ub2e4\uace0 \ubc1d\ud614\ub2e4.\n\n\uc6b0\ub9ac\ub294 \uc9c0\ub09c\ud574 \ub9d0 \uc774\ub780 \ubd84\uc7c1\uc774 \uaca9\ud654\ub418\uba70 \ubc1c\uc0dd\ud55c **\uad11\ubc94\uc704\ud55c \uc790\uc0b0 \ub9e4\uac01(\uc5ec\ub7ec \uc2dc\uc7a5\uc5d0\uc11c \ub3d9\uc2dc\ub2e4\ubc1c\uc801\uc73c\ub85c \ud3ec\uc9c0\uc158\uc744 \uc904\uc774\ub294 \ud604\uc0c1)**\uc758 \uc5ec\ud30c\ub97c \ubcf4\uace0 \uc788\ub2e4. \uc2e0\ud765\uad6d \ucc44\uad8c\uc758 \ub3d9\uc2dc \ub9e4\ub3c4\ub294 2013\ub144 **\ud14c\uc774\ud37c \ud150\ud2b8\ub7fc(Taper Tantrum\u00b7\ubbf8\uad6d\uc758 \uc591\uc801\uc644\ud654 \ucd95\uc18c \uc2e0\ud638\ub85c \uae08\ub9ac \uae09\ub4f1\uacfc \uc704\ud5d8\uc790\uc0b0 \uae09\ub77d\uc774 \ub098\ud0c0\ub09c \uc0ac\uac74)** \uc774\ud6c4 \uac00\uc7a5 \uc2ec\uac01\ud55c \uc218\uc900 \uc911 \ud558\ub098\ub85c \ud3c9\uac00\ub410\uc73c\uba70, iShares JP Morgan USD Emerging Markets Bond ETF(EMB) \uac19\uc740 **\ucc44\uad8c ETF(\uc5ec\ub7ec \ucc44\uad8c\uc5d0 \ubd84\uc0b0 \ud22c\uc790\ud558\ub294 \uc0c1\uc7a5\uc9c0\uc218\ud380\ub4dc)**\uc5d0\ub294 \ud55c \ubd84\uae30 \ub3d9\uc548 50\uc5b5\ub2ec\ub7ec\uac00 \ub118\ub294 **\uc790\uae08 \uc720\ucd9c**\uc774 \ubc1c\uc0dd\ud588\ub2e4. \uc548\uc804\uc790\uc0b0\uc778 \ubbf8\uad6d \uad6d\ucc44\ub85c\uc758 \uc774\ub3d9\uc740 **10\ub144\ubb3c \uae08\ub9ac(10\ub144 \ub9cc\uae30 \ubbf8 \uad6d\ucc44 \uc218\uc775\ub960)**\ub97c 1\uc6d4\uc5d0 \ud55c\ub54c 3.8% \uc544\ub798\ub85c \ub04c\uc5b4\ub0b4\ub838\uace0, \uc774\ub294 2025\ub144 \uc911\ubc18 \uc774\ud6c4 \ubcf4\uae30 \uc5b4\ub824\uc6e0\ub358 \uc218\uc900\uc774\uc5c8\ub2e4.\n\n<h3>Positioning After The Risk Shock<\/h3>\n\ubd84\uc7c1\uc758 **\uacf5\uae09 \ucda9\uaca9(\uacf5\uae09 \ucc28\uc9c8 \uc6b0\ub824\ub85c \uac00\uaca9\uc774 \uae09\ub4f1\ud558\ub294 \ud604\uc0c1)**\uc740 2025\ub144 4\ubd84\uae30\uc5d0 **WTI \uc6d0\uc720 \uc120\ubb3c(\ubbf8\uad6d \uc11c\ubd80\ud14d\uc0ac\uc2a4\uc0b0 \uc6d0\uc720\uc758 \uc120\ubb3c \uacc4\uc57d)** \uac00\uaca9\uc744 \ubc30\ub7f4\ub2f9 82\ub2ec\ub7ec\uc5d0\uc11c \uac70\uc758 100\ub2ec\ub7ec\uae4c\uc9c0 \ub04c\uc5b4\uc62c\ub9b0 \ub4a4, \ud604\uc7ac\ub294 80\ub2ec\ub7ec \ud6c4\ubc18\ub300\ub85c \ub418\ub3cc\uc544\uc624\uac8c \ud588\ub2e4. \uc774\uc81c **\uc9c0\uc815\ud559\uc801 \uc704\ud5d8 \ud504\ub9ac\ubbf8\uc5c4(\uc804\uc7c1\u00b7\uc81c\uc7ac \ub4f1 \uc815\uce58 \ub9ac\uc2a4\ud06c \ub54c\ubb38\uc5d0 \uac00\uaca9\uc5d0 \ucd94\uac00\ub85c \ubc18\uc601\ub418\ub294 \ube44\uc6a9)**\uc774 \uc904\uc5b4\ub4dc\ub294 \uad6d\uba74\uc774\ub77c\uba74, \uc6d0\uc720\uc5d0 \ub300\ud574 **\ud48b\uc635\uc158 \uc2a4\ud504\ub808\ub4dc(\ud48b\uc635\uc158\uc744 \uc0ac\uace0 \ub2e4\ub978 \ud48b\uc635\uc158\uc744 \ud30c\ub294 \ubc29\uc2dd\uc73c\ub85c \uc190\uc775\uacfc \uc704\ud5d8\uc744 \uc81c\ud55c\ud558\ub294 \uc804\ub7b5)**\ub97c \ud65c\uc6a9\ud574 \uc5d0\ub108\uc9c0 \uac00\uaca9\uc758 \ucd94\uac00 \uc815\uc0c1\ud654\ub97c \ub178\ub9ac\ub294 **\uc704\ud5d8 \uc81c\ud55c\ud615 \ud3ec\uc9c0\uc158**\uc774 \uac00\ub2a5\ud558\ub2e4\ub294 \uc2dc\uac01\uc774\ub2e4. \uc774\ub294 \uacf5\uae09 \ucc28\uc9c8 \uc6b0\ub824\uac00 \uc2e4\uc81c \uae00\ub85c\ubc8c \uc0dd\uc0b0 \uc601\ud5a5\uc5d0 \ube44\ud574 \uacfc\ub3c4\ud588\ub2e4\ub294 \ud310\ub2e8\uc5d0 \uae30\ubc18\ud55c\ub2e4.\n\n\ud575\uc2ec\uad6d \ucc44\uad8c\uc73c\ub85c\uc758 \ud68c\uadc0\ub294 \ub2f9\ubd84\uac04 \uc77c\ub2e8\ub77d\ub41c \uac83\uc73c\ub85c \ubcf4\uc774\uba70, \ubbf8\uad6d\uacfc \ub3c5\uc77c \uae08\ub9ac\ub3c4 \uc548\uc815\ub418\ub294 \ud750\ub984\uc774\ub2e4. \uc774\uc81c\ub294 \ubd84\uc7c1 \uae30\uc5b5\uc774 \ud76c\uc11d\ub418\uba74\uc11c \uc790\uae08\uc774 \ub2e4\uc2dc **\uace0\uc218\uc775 \uc790\uc0b0(\uc218\uc775\ub960\uc774 \ub192\uc9c0\ub9cc \uc704\ud5d8\ub3c4 \ud070 \uc790\uc0b0)**\uc73c\ub85c \ub3cc\uc544\uc624\ub294 \uc2e0\ud638\uac00 \uc788\ub294\uc9c0 \uad00\ucc30\ud560 \ud544\uc694\uac00 \uc788\ub2e4. \ud30c\uc0dd\uc0c1\ud488 \uce21\uba74\uc5d0\uc11c\ub294 \ubbf8 \ub2ec\ub7ec \ub300\ube44 **\uc2e0\ud765\uad6d \ud1b5\ud654 \uc120\ubb3c(\ubbf8\ub9ac \uc815\ud55c \uac00\uaca9\uc73c\ub85c \ud1b5\ud654\ub97c \uc0ac\uace0\ud30c\ub294 \uacc4\uc57d)**, \uc608\ub97c \ub4e4\uc5b4 \uba55\uc2dc\ucf54 \ud398\uc18c\ub098 \ube0c\ub77c\uc9c8 \ud5e4\uc54c \uc120\ubb3c\uc744 \ud1b5\ud574 \uac15\uc138 \uc7ac\uac1c \uc870\uc9d0\uc744 \uc810\uac80\ud558\ub294 \uc811\uadfc\uc774 \uc5b8\uae09\ub410\ub2e4.\n<p>\n\n<p><strong>\uc9c0\uae08 \ubc14\ub85c \uac70\ub798\ub97c \uc2dc\uc791\ud558\uc138\uc694 &#8211; VT Markets \uc2e4\uacc4\uc88c\ub97c \uac1c\uc124\ud558\ub824\uba74 <a href=\"https:\/\/www.vtmarkets.com\/kr\/trade-now\/\">\uc5ec\uae30<\/a>\ub97c \ud074\ub9ad\ud558\uc138\uc694 <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>\uc774\ub780 \ubd84\uc7c1\ubc1c \ub9ac\uc2a4\ud06c\uc624\ud504\ub85c \uc2e0\ud765\uad6d \uad6d\ucc44\uac00 \uc9c0\uc5ed \ub3d9\uc2dc \uc21c\ub9e4\ub3c4, \uc62c\ud574 \ucd5c\ub300\uae09 \uc790\uae08 \uc720\ucd9c. \uc790\uae08\uc740 \ubbf8\u00b7\ub3c5 \uad6d\ucc44 \ub4f1 G10 \uc548\uc804\uc790\uc0b0\uc73c\ub85c \uc774\ub3d9\ud558\uba70 \ub4c0\ub808\uc774\uc158 \ud655\ub300 \ubca0\ud305 \ub418\uac10\uae30.<\/p>\n","protected":false},"author":87,"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-40595","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\/40595","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\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/comments?post=40595"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/40595\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=40595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=40595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=40595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}