{"id":41677,"date":"2026-03-18T22:43:44","date_gmt":"2026-03-18T22:43:44","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/%ec%9c%a0%eb%8a%94-%eb%9d%bc%ed%8b%b4%ec%95%84%eb%a9%94%eb%a6%ac%ec%b9%b4-%ea%b5%ad%ec%b1%84%ea%b0%80-%ec%a0%84-%ec%84%b8%ea%b3%84%ec%a0%81%ec%9c%bc%eb%a1%9c-%ea%b0%80%ec%9e%a5-%eb%a7%8e%ec%9d%b4\/"},"modified":"2026-03-18T22:43:44","modified_gmt":"2026-03-18T22:43:44","slug":"%ec%9c%a0%eb%8a%94-%eb%9d%bc%ed%8b%b4%ec%95%84%eb%a9%94%eb%a6%ac%ec%b9%b4-%ea%b5%ad%ec%b1%84%ea%b0%80-%ec%a0%84-%ec%84%b8%ea%b3%84%ec%a0%81%ec%9c%bc%eb%a1%9c-%ea%b0%80%ec%9e%a5-%eb%a7%8e%ec%9d%b4","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/%ec%9c%a0%eb%8a%94-%eb%9d%bc%ed%8b%b4%ec%95%84%eb%a9%94%eb%a6%ac%ec%b9%b4-%ea%b5%ad%ec%b1%84%ea%b0%80-%ec%a0%84-%ec%84%b8%ea%b3%84%ec%a0%81%ec%9c%bc%eb%a1%9c-%ea%b0%80%ec%9e%a5-%eb%a7%8e%ec%9d%b4\/","title":{"rendered":"\uc720\ub294 \ub77c\ud2f4\uc544\uba54\ub9ac\uce74 \uad6d\ucc44\uac00 \uc804 \uc138\uacc4\uc801\uc73c\ub85c \uac00\uc7a5 \ub9ce\uc774 \ubcf4\uc720\ub418\uace0 \uc788\uc73c\uba70, \ubcf4\uc720 \ube44\uc911\uc774 \uc5f0\uac04 \ud3c9\uade0\ubcf4\ub2e4 14% \ub192\uace0 \uc800\ud3c9\uac00(\uacfc\uc18c\ubcf4\uc720)\ub41c \ud1b5\ud654\uac00 \uc5c6\ub2e4\uace0 \ubc1d\ud614\ub2e4."},"content":{"rendered":"\ub77c\ud2f4\uc544\uba54\ub9ac\uce74 **\uad6d\ucc44(\uc815\ubd80\uac00 \ubc1c\ud589\ud558\ub294 \ucc44\uad8c)**\ub294 \uc804 \uc138\uacc4\uc5d0\uc11c **\ubcf4\uc720 \ube44\uc911(\ud22c\uc790\uc790\ub4e4\uc774 \ub4e4\uace0 \uc788\ub294 \uaddc\ubaa8)**\uc774 \uac00\uc7a5 \ub192\uc73c\uba70, **\ucd5c\uadfc 12\uac1c\uc6d4 \uc774\ub3d9\ud3c9\uade0(rolling 12-month average: \ucd5c\uadfc 12\uac1c\uc6d4 \ud3c9\uade0\uc744 \ub9e4\ub2ec \uac31\uc2e0\ud574 \uacc4\uc0b0\ud55c \uac12)** \ub300\ube44 \uc57d **14%** \uc704\uc5d0 \uc788\ub2e4. \uc5f0\ucd08 \uc774\ud6c4\ub85c\ub3c4 \uc18c\ud3ed \ub354 \ub192\ub2e4. \uc774 \uc9c0\uc5ed\uc5d0\ub294 **\uc800\ubcf4\uc720 \ud1b5\ud654(underheld currencies: \ub2e4\ub978 \uc9c0\uc5ed\/\ud3c9\uade0\uc5d0 \ube44\ud574 \ud22c\uc790\uc790 \ubcf4\uc720\uac00 \ud2b9\ud788 \uc801\uc740 \ud1b5\ud654)**\uac00 \uc5c6\uace0, **\ucc44\uad8c \ubcf4\uc720(fixed income holdings: \ucc44\uad8c \uac19\uc740 \uc774\uc790 \uc218\uc775 \uc790\uc0b0 \ubcf4\uc720)**\ub294 2%\ud3ec\uc778\ud2b8\ubcf4\ub2e4 \ub35c \uc904\uc5c8\ub2e4.\n\n\uc774 \uc9c0\uc5ed \ubd80\ucc44\uc5d0 \ub300\ud55c **\uc20f \ud65c\uc6a9(short utilisation: \ud558\ub77d\uc5d0 \ubca0\ud305\ud558\ub294 \ub9e4\ub3c4 \ud3ec\uc9c0\uc158\uc744 \uc7a1\uac70\ub098 \ucc28\uc785\ud574 \ub9e4\ub3c4\ud558\ub294 \ud65c\ub3d9\uc758 \uc0ac\uc6a9 \uc815\ub3c4)**\uc740 \uac10\uc18c\ud558\uace0 \uc788\uc73c\uba70, \ud3ec\uc9c0\uc158\ub3c4 \uc18c\ud3ed \uc904\uc774\ub294 \uc218\uc900\uc774\ub2e4. **\uc678\ud658 \ubc0f \uae08\ub9ac \ud5e4\uc9c0(hedging: \ud658\uc728\uc774\ub098 \uae08\ub9ac \ubcc0\ub3d9 \uc704\ud5d8\uc744 \uc904\uc774\uae30 \uc704\ud55c \ubc29\uc5b4 \uac70\ub798)**\uac00 \uc81c\ud55c\uc801\uc774\ub77c, \ubbf8\uad6d \uc815\ucc45\uc774\ub098 \uc804\ubc18\uc801\uc778 \uae08\uc735 \uc5ec\uac74\uc774 \ubc14\ub00c\uba74 \ub77c\ud2f4\uc544\uba54\ub9ac\uce74 \ucc44\uad8c\uc740 \uae09\uaca9\ud55c \uc790\uae08 \uc774\ud0c8\uc5d0 \ub354 \ucde8\uc57d\ud558\ub2e4.\n\n<h3>\ube0c\ub77c\uc9c8 \uc140\ub9ad(Selic) \uacb0\uc815\uc5d0 \uc8fc\ubaa9<\/h3>\n\ube0c\ub77c\uc9c8\uc758 **\uc140\ub9ad \uae08\ub9ac(Selic rate: \ube0c\ub77c\uc9c8 \uc911\uc559\uc740\ud589\uc774 \uc6b4\uc601\ud558\ub294 \uae30\uc900\uae08\ub9ac)** \uacb0\uc815\uc5d0 \uc55e\uc11c, \uc2dc\uc7a5 \uc608\uc0c1\uc740 **50bp(\ubca0\uc774\uc2dc\uc2a4\ud3ec\uc778\ud2b8, basis point: 0.01%\ud3ec\uc778\ud2b8)** \uc778\ud558\uc5d0\uc11c **25bp** \uc778\ud558\ub85c \ubc14\ub00c\uc5c8\ub2e4. \uc2dc\uc791 \uae08\ub9ac\ub294 15%\uc600\ub2e4. \uc774 \uc9c0\uc5ed\uc774 \ud604\uc7ac \ubd84\uc7c1\uc5d0 \ub300\ud55c \uacbd\uc81c\uc801 \ub178\ucd9c\uc774 \ub0ae\ub2e4\uace0 \uc124\uba85\ub418\ub294\ub370\ub3c4, \uc815\ucc45 \uae30\ub300\uac00 \uc870\uc815\ub410\ub2e4.\n\n\ud574\ub2f9 \uae00\uc740 \ud5e4\uc9c0 \ud65c\ub3d9\uc774 \uc81c\ud55c\uc801\uc778 \uc774\uc720\ub85c, \ubbf8\uad6d \ub2ec\ub7ec\ub098 \ubbf8\uad6d \uae08\ub9ac\ub97c \ud1b5\ud574 \u201c\uc9c1\uc811\uc801\uc778 \uae34\ucd95(\uc790\uae08 \uc870\ub2ec\uc774 \ub354 \uc5b4\ub824\uc6cc\uc9c0\ub294 \ud658\uacbd)\u201d\uc774 \ud06c\uc9c0 \uc54a\uc744 \uac83\uc774\ub77c\ub294 \uae30\ub300\ub97c \ub4e0\ub2e4. \ub3d9\uc2dc\uc5d0 \ubc18\ub300 \uc0c1\ud669\uc5d0 \ub300\ud55c \ubc29\uc5b4\uac00 \uc5c6\uc73c\uba74, \ub77c\ud2f4\uc544\uba54\ub9ac\uce74 \uc790\uc0b0, \ud2b9\ud788 \ucc44\uad8c\uc774 \uc5f0\uc900(Federal Reserve: \ubbf8\uad6d \uc911\uc559\uc740\ud589) \uc804\ub9dd\uc774\ub098 \uc804\ubc18\uc801 \uae08\uc735 \uc5ec\uac74 \ubcc0\ud654\uc5d0 \ub530\ub77c \ub354 \ud070 \uac00\uaca9 \ubcc0\ub3d9\uc744 \uacaa\uc744 \uc218 \uc788\ub2e4\uace0 \ub9d0\ud55c\ub2e4.\n\n\uc6b0\ub9ac\ub294 \ub77c\ud2f4\uc544\uba54\ub9ac\uce74 \ucc44\uad8c\uc774 \uc5ec\uc804\ud788 **\uacfc\ubc00 \uac70\ub798(crowded trade: \ub108\ubb34 \ub9ce\uc740 \ud22c\uc790\uc790\uac00 \uac19\uc740 \ubc29\ud5a5\uc73c\ub85c \ubab0\ub9b0 \uac70\ub798)**\ub77c\uace0 \ubcf4\uace0 \uc788\ub2e4. \ud604\uc7ac \ubcf4\uc720 \uaddc\ubaa8\ub294 1\ub144 \ud3c9\uade0 \ub300\ube44 \uc57d 14% \ub192\ub2e4. \uc774\ub7f0 \uc778\uae30\ub294 \ud22c\uc790\uc790\ub4e4\uc774 \uc704\ud5d8\uc744 \uac00\ubccd\uac8c \ubcf4\ub294 \uc2e0\ud638\uc77c \uc218 \uc788\uc5b4 \uc6b0\ub824\ub41c\ub2e4. \ubcf4\uc720 \uac10\uc18c\uac00 \ud06c\uc9c0 \uc54a\uc740 \uac83\uc740 \uc774 \uc9c0\uc5ed\uc5d0\uc11c \ube60\uc838\ub098\uac14\ub2e4\uae30\ubcf4\ub2e4, \uc804 \uc138\uacc4\uc801\uc73c\ub85c \uc778\ud50c\ub808\uc774\uc158\uc774 \ub2e4\uc2dc \uac00\uaca9\uc5d0 \ubc18\uc601\ub41c \uc601\ud5a5\uc774\ub77c\ub294 \uc124\uba85\uc774\ub2e4.\n\n\uc6b0\ub9ac\uac00 \ubcf4\ub294 \ud575\uc2ec \ucde8\uc57d\uc810\uc740 **\ubbf8\uad6d \uae08\ub9ac \uc0c1\uc2b9**\uc774\ub098 **\ub2ec\ub7ec \uac15\uc138**\uc5d0 \ub300\ube44\ud55c \ud5e4\uc9c0 \uc218\uc900\uc774 \ub9e4\uc6b0 \ub0ae\ub2e4\ub294 \uc810\uc774\ub2e4. **\uc635\uc158 \uc2dc\uc7a5(options market: \ubbf8\ub798\uc5d0 \uc815\ud574\uc9c4 \uc870\uac74\uc73c\ub85c \uc0ac\uace0\ud314 \uc218 \uc788\ub294 \uad8c\ub9ac \uc0c1\ud488\uc758 \uc2dc\uc7a5)**\uc744 \ubcf4\uba74, \uba55\uc2dc\ucf54 \ud398\uc18c\uc640 \ube0c\ub77c\uc9c8 \ud5e4\uc54c\uc758 **\ub0b4\uc7ac \ubcc0\ub3d9\uc131(implied volatility: \uc635\uc158 \uac00\uaca9\uc5d0 \ubc18\uc601\ub41c \u2018\uc608\uc0c1 \ubcc0\ub3d9 \ud3ed\u2019)**\uc774 2\ub144 \uc800\uc810 \uadfc\ucc98\ub77c \uc9c0\uae08\uc740 **\ubcf4\ud638\uc6a9 \ud48b\uc635\uc158(protective put: \uac00\uaca9 \ud558\ub77d \uc2dc \uc190\uc2e4\uc744 \uc904\uc774\uae30 \uc704\ud574 \uc0ac\ub294 \u2018\ud558\ub77d \ub300\ube44 \ubcf4\ud5d8\u2019)**\uc774 \uc720\ub09c\ud788 \uc2f8\ub2e4. \uc774\ub294 \uc2dc\uc7a5\uc774 \ubbf8\uad6d \uae08\uc735 \uc5ec\uac74\uc5d0\uc11c \ud070 \uc704\ud5d8\uc744 \uac70\uc758 \ubc18\uc601\ud558\uc9c0 \uc54a\ub294\ub2e4\ub294 \ub73b\uc774\ub2e4.\n\n<h3>\ub0ae\uc740 \ud5e4\uc9c0\uac00 \uacfc\ubc00 \uac70\ub798\ub97c \ucde8\uc57d\ud558\uac8c \ub9cc\ub4e0\ub2e4<\/h3>\n\uc774\ub7f0 \uc548\ub3c4\uac10\uc740 2025\ub144 \ub300\ubd80\ubd84 \uc774\uc5b4\uc84c\ub358 \uc644\ud654 \ud750\ub984 \uc774\ud6c4 \uc5f0\uc900\uc774 **\ub3d9\uacb0(on hold: \uae08\ub9ac\ub97c \uc62c\ub9ac\uac70\ub098 \ub0b4\ub9ac\uc9c0 \uc54a\uace0 \uc720\uc9c0)**\ud560 \uac83\uc774\ub77c\ub294 \ubbff\uc74c\uc5d0\uc11c \ub098\uc628 \uac83\uc73c\ub85c \ubcf4\uc778\ub2e4. \uc2e4\uc81c\ub85c **\uc5f0\ubc29\uae30\uae08\uae08\ub9ac \uc120\ubb3c(Fed funds futures: \ud5a5\ud6c4 \ubbf8\uad6d \uc815\ucc45\uae08\ub9ac\ub97c \uc608\uc0c1\ud574 \uac70\ub798\ud558\ub294 \uc120\ubb3c)**\uc740 \uc62c\ud574 \ub0a8\uc740 \uae30\uac04 \uc815\ucc45\uae08\ub9ac\uac00 **3.25%\ub85c \uc720\uc9c0**\ub420 \uac00\ub2a5\uc131\uc744 \ubc18\uc601\ud558\uace0 \uc788\uace0, \uc778\uc0c1 \ud655\ub960\uc740 10% \ubbf8\ub9cc\uc774\ub2e4. \uc774\ub7f0 \ud569\uc758\uac00 \ud615\uc131\ub418\uba74, \uc608\uc0c1 \ubc16\uc758 **\ub9e4\ud30c\uc801(hawkish: \uae08\ub9ac \uc778\uc0c1 \uac19\uc740 \uae34\ucd95\uc5d0 \ub354 \uc801\uadf9\uc801\uc778)** \uc804\ud658\uc774 \ub9e4\ub3c4 \ucd09\ubc1c \uc694\uc778\uc774 \ub420 \uc218 \uc788\ub2e4.\n\n\uc774\ucc98\ub7fc \ud55c\ucabd\uc73c\ub85c \uae30\ub300\uac00 \uc3e0\ub9ac\uba74, \uc2e0\uc911\ud55c \uc804\ub7b5\uc740 \uc774 \uc9c0\uc5ed \uc8fc\uc694 \ud1b5\ud654\ub098 **LatAm \ucc44\uad8c ETF(ETF: \uc5ec\ub7ec \ucc44\uad8c\uc744 \ubb36\uc5b4 \uc8fc\uc2dd\ucc98\ub7fc \uac70\ub798\ud558\ub294 \uc0c1\ud488)**\uc778 **EMB** \uac19\uc740 \uc0c1\ud488\uc5d0 \ub300\ud574 **\uc678\uac00\uaca9(out-of-the-money: \uc9c0\uae08 \uac00\uaca9 \uae30\uc900\uc73c\ub85c \ubc14\ub85c \uc774\uc775\uc774 \ub098\uc9c0 \uc54a\ub294 \uc218\uc900\uc758)** \uc800\ub834\ud55c \ud48b\uc635\uc158\uc744 \uc0ac\ub294 \uac83\uc774\ub2e4. \uc774\ub294 \uae08\uc735 \uc5ec\uac74\uc774 \uc608\uc0c1\uacfc \ub2ec\ub9ac \uae34\ucd95\uc73c\ub85c \ubc14\ub014 \ub54c \uae09\ub77d\uc5d0 \ub300\ube44\ud560 \uc218 \uc788\ub294 \ube44\uad50\uc801 \ub0ae\uc740 \ube44\uc6a9\uc758 \ubc29\ubc95\uc774\ub2e4. \uc774 \ubd80\ucc44\uc5d0 \ub300\ud55c \uc20f \ud65c\uc6a9\uc774 \uc904\uc5b4\ub4dc\ub294 \uac83\ub3c4, \uc774\ub7f0 \ubd80\uc815\uc801 \uc0c1\ud669\uc5d0 \ub300\ube44\ud55c \ud22c\uc790\uc790\uac00 \ub9ce\uc9c0 \uc54a\ub2e4\ub294 \uc2e0\ud638\ub2e4.\n\n\uc6b0\ub9ac\ub294 2013\ub144 \u201c**\ud14c\uc774\ud37c \ud150\ud2b8\ub7fc(Taper Tantrum: \uc5f0\uc900\uc774 \uc790\uc0b0\ub9e4\uc785 \ucd95\uc18c\ub97c \uc2dc\uc0ac\ud558\uc790 \uc2dc\uc7a5\uc774 \uae09\uaca9\ud788 \ud754\ub4e4\ub9b0 \uc0ac\uac74)**\u201d \uc804\uc5d0\ub3c4 \ube44\uc2b7\ud55c \uad6c\ub3c4\ub97c \ubd24\ub2e4. \ub2f9\uc2dc \uc5f0\uc900\uc758 \uc608\uc0c1 \ubc16 \uba54\uc2dc\uc9c0 \ubcc0\ud654\ub85c \ud5e4\uc9c0\ub418\uc9c0 \uc54a\uc740 \uc2e0\ud765\uad6d \uc790\uc0b0\uc5d0\uc11c \ub300\uaddc\ubaa8 \uc790\uae08 \uc720\ucd9c\uc774 \uc77c\uc5b4\ub0ac\ub2e4. \uc9c0\ub09c\uc8fc \ub370\uc774\ud130\ub294 \ub77c\ud2f4\uc544\uba54\ub9ac\uce74 \ubd80\ucc44\ub85c\uc758 \uc790\uae08 \uc720\uc785\uc774 \uacc4\uc18d\ub410\uc74c\uc744 \ubcf4\uc5ec, \uc2dc\uc7a5\uc774 \ud55c\ucabd\uc73c\ub85c \ud06c\uac8c \uae30\uc6b8\uc5b4 \uc788\uc74c\uc744 \ud655\uc778\ud574 \uc900\ub2e4. \uc774\ub7f0 \ud3ec\uc9c0\uc158\uc740 \uacfc\uac70\uac00 \ubc18\ubcf5\ub418\uba74 \uc804\uccb4 \uad6c\uac04\uc774 \ud06c\uac8c \ud754\ub4e4\ub9b4 \uc218 \uc788\uc74c\uc744 \ub73b\ud55c\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>\ub77c\ud2f4\uc544\uba54\ub9ac\uce74 \uad6d\ucc44 \ubcf4\uc720\ub294 1\ub144 \ud3c9\uade0 \ub300\ube44 14% \uacfc\ubc00\uc774\uba70 \ud5e4\uc9d5\uc774 \uac70\uc758 \uc5c6\ub2e4. \ube0c\ub77c\uc9c8 \uc140\ub9ad \uc778\ud558 \uae30\ub300\ub294 50bp\u219225bp\ub85c \ud6c4\ud1f4. \ub2ec\ub7ec\u00b7\ubbf8 \uae08\ub9ac \uae09\ubcc0 \uc2dc \u2018\ud14c\uc774\ud37c \ud150\ud2b8\ub7fc\u2019\ucc98\ub7fc \uae09\ub77d \uc704\ud5d8, \uc800\ub834\ud55c \ud48b\uc635\uc158\uc73c\ub85c \ubc29\uc5b4\uac00 \uc720\ub9ac. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":103,"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-41677","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\/41677","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\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/comments?post=41677"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/41677\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=41677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=41677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=41677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}