{"id":41795,"date":"2026-03-19T11:44:05","date_gmt":"2026-03-19T11:44:05","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/%ec%97%b0%ec%a4%80%ec%9d%98-%eb%a7%a4%ed%8c%8c%ec%a0%81-%ea%b8%b0%ec%a1%b0-%ec%86%8d%ec%97%90-%ea%b8%88%ea%b0%92-2%ec%9b%94-%ec%9d%b4%ed%9b%84-%ec%b5%9c%ec%a0%80%ec%b9%984700%eb%8b%ac\/"},"modified":"2026-03-19T11:44:05","modified_gmt":"2026-03-19T11:44:05","slug":"%ec%97%b0%ec%a4%80%ec%9d%98-%eb%a7%a4%ed%8c%8c%ec%a0%81-%ea%b8%b0%ec%a1%b0-%ec%86%8d%ec%97%90-%ea%b8%88%ea%b0%92-2%ec%9b%94-%ec%9d%b4%ed%9b%84-%ec%b5%9c%ec%a0%80%ec%b9%984700%eb%8b%ac","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/%ec%97%b0%ec%a4%80%ec%9d%98-%eb%a7%a4%ed%8c%8c%ec%a0%81-%ea%b8%b0%ec%a1%b0-%ec%86%8d%ec%97%90-%ea%b8%88%ea%b0%92-2%ec%9b%94-%ec%9d%b4%ed%9b%84-%ec%b5%9c%ec%a0%80%ec%b9%984700%eb%8b%ac\/","title":{"rendered":"\uc5f0\uc900\uc758 \ub9e4\ud30c\uc801 \uae30\uc870 \uc18d\uc5d0 \uae08\uac12, 2\uc6d4 \uc774\ud6c4 \ucd5c\uc800\uce58\u20264,700\ub2ec\ub7ec\uc120\uc5d0\uc11c \uc548\uc815\uc138"},"content":{"rendered":"\uae08\uac12\uc774 2\uc6d4 6\uc77c \uc774\ud6c4 \ucd5c\uc800\uce58\ub85c \ud558\ub77d\ud558\uba70 \uc720\ub7fd \uc7a5 \ucd08\ubc18 4,700\ub2ec\ub7ec \uc120\uc73c\ub85c \ubc00\ub838\ub2e4. \ubbf8 \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Fed\u00b7\uc5f0\uc900)\uac00 \u2018\ub9e4\ud30c\uc801(\uae34\ucd95 \uc120\ud638)\u2019 \uc815\ucc45 \uacbd\ub85c\ub97c \uc2dc\uc0ac\ud55c \ub4a4 \ub2ec\ub7ec\ud654\uac00 \uac15\uc138\ub97c \ubcf4\uc778 \uc601\ud5a5\uc774\ub2e4.\n\n\ubbf8\uad6d \uc9c0\ud45c\uc5d0 \ub530\ub974\uba74 2\uc6d4 **\uc0dd\uc0b0\uc790\ubb3c\uac00\uc9c0\uc218(PPI\u00b7\uae30\uc5c5\uc774 \uc6d0\uc790\uc7ac\u00b7\uc911\uac04\uc7ac\ub97c \uc0b4 \ub54c\uc758 \ubb3c\uac00)**\ub294 \uc804\uc6d4 \ub300\ube44 0.7% \uc0c1\uc2b9\ud588\ub2e4(\uc804\uc6d4 0.5% \uc0c1\uc2b9). \uc804\ub144 \ub300\ube44 PPI\ub294 3.4%\ub85c \uc62c\ub77c, 2025\ub144 2\uc6d4 \uc774\ud6c4 12\uac1c\uc6d4 \uae30\uc900 \uac00\uc7a5 \ud070 \uc0c1\uc2b9\ud3ed\uc744 \uae30\ub85d\ud588\ub2e4.\n\n

Fed Outlook And Geopolitical Risks<\/h3>\n\uc5f0\uc900\uc740 \uc774\ub780 \uc804\uc7c1\uacfc \uad00\ub828\ub41c \uc5d0\ub108\uc9c0 \uac00\uaca9 \uc0c1\uc2b9 \uc704\ud5d8\uc744 \uc5b8\uae09\ud558\uba70, **PCE \ubb3c\uac00 \uc804\ub9dd(\uac1c\uc778\uc18c\ube44\uc9c0\ucd9c \ubb3c\uac00\u00b7\uc5f0\uc900\uc774 \uc911\uc2dc\ud558\ub294 \ubb3c\uac00 \uc9c0\ud45c)**\uc758 \uc5f0\ub9d0 \uc804\ub9dd\uce58\ub97c \uc62c\ub838\ub2e4. 2026\ub144 \uc131\uc7a5\ub960 \uc804\ub9dd\ub3c4 \uc0c1\ud5a5\ud588\uace0, \uc62c\ud574 1\ucc28\ub840\uc640 2027\ub144 1\ucc28\ub840 \uae08\ub9ac \uc778\ud558\ub97c \uc804\ub9dd\ud588\ub2e4.\n\n\uac78\ud504 \uc9c0\uc5ed\uc5d0\uc11c\ub294 \uc774\uc2a4\ub77c\uc5d8\uc758 \uc774\ub780 **\uc0ac\uc6b0\uc2a4\ud30c\ub974\uc2a4 \uac00\uc2a4\uc804(\uc138\uacc4 \ucd5c\ub300 \uaddc\ubaa8\ub85c \uc54c\ub824\uc9c4 \uac00\uc2a4\uc804)** \uacf5\uc2b5 \uc774\ud6c4 \uc5d0\ub108\uc9c0 \uc778\ud504\ub77c\uac00 \uacf5\uaca9\ubc1b\uc558\ub2e4. \ub3c4\ub110\ub4dc \ud2b8\ub7fc\ud504 \ub300\ud1b5\ub839\uc740 \uc5d0\ub108\uc9c0 \uc790\uc0b0\uacfc \uad00\ub828\ub41c \ub300\uaddc\ubaa8 \ubcf4\ubcf5 \uac00\ub2a5\uc131\uc744 \uacbd\uace0\ud588\ub2e4. \uc5b8\ub860\uc740 \ubbf8\uad6d\uc774 \uad70\uc0ac \uc791\uc804 \ud655\ub300 \ubc0f \uc11c\uc544\uc2dc\uc544\uc5d0 \uc218\ucc9c \uba85 \uaddc\ubaa8\uc758 \ubcd1\ub825 \ubc30\uce58\ub97c \uac80\ud1a0\ud558\uace0 \uc788\ub2e4\uace0 \uc804\ud588\ub2e4.\n\n\uc2dc\uc7a5\uc740 **\uc2a4\uc704\uc2a4\uc911\uc559\uc740\ud589(SNB)**, **\uc601\ub780\uc740\ud589(BoE)**, **\uc720\ub7fd\uc911\uc559\uc740\ud589(ECB)**\uc758 \uc815\ucc45 \ubc1c\ud45c\uc640 \ud568\uaed8, \ubbf8\uad6d **\uc8fc\uac04 \uc2e0\uaddc \uc2e4\uc5c5\uc218\ub2f9 \uccad\uad6c\uac74\uc218(\uace0\uc6a9 \ub454\ud654 \uc5ec\ubd80\ub97c \uac00\ub2a0\ud558\ub294 \uc9c0\ud45c)**, **\ud544\ub77c\ub378\ud53c\uc544 \uc5f0\uc740 \uc81c\uc870\uc5c5\uc9c0\uc218(\ub3d9\ubd80 \uc9c0\uc5ed \uc81c\uc870\uc5c5 \uacbd\uae30 \uc124\ubb38)**\ub3c4 \uc8fc\uc2dc\ud558\uace0 \uc788\ub2e4. \uc774 \ubcf4\uace0\uc11c\ub294 3\uc6d4 19\uc77c 09:02\uc5d0 \uc815\uc815\ub3fc, \uc804\uc6d4 PPI\uac00 0.3%\uac00 \uc544\ub2c8\ub77c 0.5%\uc600\ub2e4\uace0 \ubc1d\ud614\ub2e4.\n\n\uae30\uc220\uc801\uc73c\ub85c\ub294 \uac00\uaca9\uc774 5,040~5,035\ub2ec\ub7ec \uad6c\uac04\uc744 \ud558\ud5a5 \uc774\ud0c8\ud588\ub2e4. \uc774 \uad6c\uac04\uc740 **200\uae30\uac04 4\uc2dc\uac04 EMA(\uc9c0\uc218\uc774\ub3d9\ud3c9\uade0\u00b7\ucd5c\uadfc \uac00\uaca9\uc5d0 \ub354 \ud070 \uac00\uc911\uce58\ub97c \ub454 \ud3c9\uade0\uc120)**\uc640 **38.2% \ub418\ub3cc\ub9bc(\ud53c\ubcf4\ub098\uce58 \ub418\ub3cc\ub9bc\u00b7\uc0c1\uc2b9\ubd84\uc758 \uc77c\ubd80\uac00 \ub418\ub3cc\uc544\uc624\ub294 \ube44\uc728\ub85c \uc9c0\uc9c0\u00b7\uc800\ud56d\uc744 \ucd94\uc815)**\uc774 \uacb9\uce58\ub294 \uc601\uc5ed\uc774\uc5c8\ub2e4. **RSI(\uc0c1\ub300\uac15\ub3c4\uc9c0\uc218\u00b7\uac00\uaca9\uc774 \uacfc\uc5f4\/\uacfc\ub9e4\ub3c4\uc778\uc9c0 \ubcf4\ub294 \uc9c0\ud45c)**\ub294 27.86 \uc218\uc900\uc774\uc5c8\ub2e4. \uc800\ud56d\uc120\uc740 4,919.61\ub2ec\ub7ec, \ub2e4\uc74c 5,037.25\ub2ec\ub7ec\ub85c \uc81c\uc2dc\ub410\uace0, \uc9c0\uc9c0\uc120\uc740 4,843\ub2ec\ub7ec, 4,801.97\ub2ec\ub7ec, 4,634.48\ub2ec\ub7ec\ub85c \uc5b8\uae09\ub410\ub2e4.\n\n\uae08\uc774 \ud575\uc2ec \uc9c0\uc9c0\uc120\uc744 \uae68\uace0 4,700\ub2ec\ub7ec\ub97c \ud130\uce58\ud558\uba74\uc11c \ub2e8\uae30 \uc555\ub825\uc740 \ud558\ubc29\uc73c\ub85c \uae30\uc6b8\uc5c8\ub2e4. \uc5f0\uc900\uc758 \ub9e4\ud30c\uc801 \uae30\uc870\uac00 \ubc30\uacbd\uc774\ub2e4. **CME FedWatch Tool(\uc5f0\uc900 \uae08\ub9ac \uc804\ub9dd\uc744 \uc120\ubb3c \uac00\uaca9\uc73c\ub85c \ud655\ub960\ud654\ud55c \ub3c4\uad6c)**\uc5d0 \ub530\ub974\uba74 6\uc6d4 \ud68c\uc758\uae4c\uc9c0 \uae08\ub9ac\uac00 \ub3d9\uacb0\ub420 \ud655\ub960\uc740 85%\ub85c \ubc18\uc601\ub418\uace0 \uc788\uc73c\uba70, \uc774\ub294 \uc774\uc790 \uc218\uc775\uc774 \uc5c6\ub294 \uc790\uc0b0\uc5d0 \ubd88\ub9ac\ud55c \ub2ec\ub7ec \uac15\uc138\ub97c \ub4b7\ubc1b\uce68\ud55c\ub2e4. \uc774\uc5d0 \ub530\ub77c \ud2b8\ub808\uc774\ub354\ub294 **\ud48b\uc635\uc158(\uac00\uaca9 \ud558\ub77d\uc5d0 \ubca0\ud305\ud558\ub294 \uc635\uc158)** \ub9e4\uc218\ub098 **\ubca0\uc5b4 \ud48b \uc2a4\ud504\ub808\ub4dc(\ud48b\uc635\uc158\uc744 \uc870\ud569\ud574 \ube44\uc6a9\uc744 \uc904\uc774\uace0 \ud558\ub77d \uad6c\uac04 \uc218\uc775\uc744 \ub178\ub9ac\ub294 \uc804\ub7b5)**\ub85c 4,634\ub2ec\ub7ec \uae30\uc220\uc801 \ub808\ubca8\uae4c\uc9c0\uc758 \ucd94\uac00 \uc57d\uc138\uc5d0 \ub300\uc751\ud560 \uc218 \uc788\ub2e4\ub294 \uad00\uce21\uc774 \ub098\uc628\ub2e4.\n\n

Strategy Considerations For Volatility<\/h3>\n\uae08\uc5d0 \uac00\uc7a5 \ud070 \ubd80\ub2f4\uc740 \uc778\ud50c\ub808\uc774\uc158 \uc5b5\uc81c\uc5d0 \ub300\ud55c \uc5f0\uc900\uc758 \uc758\uc9c0\ub2e4. \uc774\ubc88 **PPI \uc804\ub144 \ub300\ube44 3.4%** \uc218\uce58\uac00 \ubcf4\uc5ec\uc8fc\ub4ef \ubb3c\uac00 \uc555\ub825\uc774 \uc27d\uac8c \uaebe\uc774\uc9c0 \uc54a\uace0 \uc788\ub2e4\ub294 \ud574\uc11d\uc774\ub2e4. 2022~2023\ub144\uc5d0\ub3c4 \ube44\uc2b7\ud55c \ud750\ub984\uc774 \ub098\ud0c0\ub0ac\ub294\ub370, \ub2f9\uc2dc \uae08\uc740 \uc5f0\uc900\uc758 \uacf5\uaca9\uc801 \uae08\ub9ac \uc778\uc0c1\uc5d0 \uc57d\uc138\ub97c \ubcf4\uc774\ub2e4\uac00, \uc774\ud6c4 \uc9c0\uc815\ud559 \uc694\uc778\uc774 \ubc18\ub4f1\uc744 \ucd09\ubc1c\ud55c \ubc14 \uc788\ub2e4. 4,800\ub2ec\ub7ec\uc758 **\uc2ec\ub9ac\uc801 \uc9c0\uc9c0\uc120(\uc2dc\uc7a5 \ucc38\uc5ec\uc790\ub4e4\uc774 \uc911\uc694\ud558\uac8c \ubcf4\ub294 \uc22b\uc790 \uad6c\uac04)**\uc774\uc790 \uae30\uc220\uc801 \uc9c0\uc9c0\uc120\uc774 \ud655\uc2e4\ud788 \ubb34\ub108\uc9c0\uba74, \ub2e8\uae30\uc801\uc73c\ub85c \ub354 \ud070 \uc870\uc815\uc744 \ub178\ub9ac\ub294 \ub9e4\ub3c4\uc138\uac00 \uac15\ud574\uc9c8 \uc218 \uc788\ub2e4.\n\n\ub2e4\ub9cc \ud398\ub974\uc2dc\uc544\ub9cc \ubd84\uc7c1 \uaca9\ud654\ub294 \ubd88\ud655\uc2e4\uc131\uc744 \ud0a4\uc6cc \ub2e8\uc21c\ud55c \u2018\uacf5\ub9e4\ub3c4(\uac00\uaca9 \ud558\ub77d\uc744 \uae30\ub300\ud558\uace0 \uba3c\uc800 \ud30c\ub294 \uac70\ub798)\u2019\ub294 \uc704\ud5d8\ud560 \uc218 \uc788\ub2e4. **\ube0c\ub80c\ud2b8\uc720 \uc120\ubb3c(\ubd81\ud574\uc0b0 \uc6d0\uc720 \uae30\uc900\uc758 \uad6d\uc81c\uc720\uac00 \uc9c0\ud45c)**\uc740 \uc774\ubc88 \uc8fc \ubc30\ub7f4\ub2f9 130\ub2ec\ub7ec\ub97c \ub118\uc5b4 2025\ub144 \ub9d0 \uacf5\uae09 \ucda9\uaca9 \uc774\ud6c4 \ucd5c\uace0\uce58\ub97c \uae30\ub85d\ud588\ub2e4. \uc2dc\uc7a5\uc774 \ud655\uc804 \uc704\ud5d8\uc744 \uc2ec\uac01\ud558\uac8c \ubc18\uc601\ud558\uace0 \uc788\ub2e4\ub294 \uc758\ubbf8\ub2e4. \uc774\ub7f0 \ud658\uacbd\uc5d0\uc11c\ub294 \uc0c1\ud669 \uc545\ud654 \uc2dc \u2018\uc548\uc804\uc790\uc0b0 \uc120\ud638\u2019\ub85c \uae08\uc774 \uae09\ub4f1\ud560 \uac00\ub2a5\uc131\uc5d0 \ub300\ube44\ud574, **\uc678\uac00\uaca9 \ucf5c\uc635\uc158(\ud604\uc7ac \uac00\uaca9\ubcf4\ub2e4 \ub192\uc740 \ud589\uc0ac\uac00\uc758 \ucf5c\uc635\uc158\uc73c\ub85c, \ubcf4\ud5d8\ucc98\ub7fc \uc4f0\uc774\ub294 \uacbd\uc6b0\uac00 \ub9ce\uc74c)**\uc744 \ud5e4\uc9c0\ub85c \uace0\ub824\ud560 \uc218 \uc788\ub2e4.\n\n\ud1b5\ud654\uc815\ucc45\uacfc \uc9c0\uc815\ud559 \ubcc0\uc218\uac00 \ucda9\ub3cc\ud558\uba74\uc11c \ubcc0\ub3d9\uc131\uc774 \ucee4\uc9c0\uace0 \uc788\ub2e4. **Cboe \uae08 \ubcc0\ub3d9\uc131\uc9c0\uc218(GVZ\u00b7\uae08 \uc635\uc158 \uac00\uaca9\uc5d0\uc11c \uacc4\uc0b0\ud55c \uc608\uc0c1 \ubcc0\ub3d9\uc131 \uc9c0\ud45c)**\ub294 30\uc744 \ub118\uc5b4\uc130\ub294\ub370, 2025\ub144 \ubd04 \uc740\ud589\uad8c \ubd88\uc548 \uc774\ud6c4\ub85c \uc774 \uc218\uc900\uc774 \uc9c0\uc18d\uc801\uc73c\ub85c \ub098\ud0c0\ub09c \uc801\uc740 \ub9ce\uc9c0 \uc54a\ub2e4. \ubc29\ud5a5\uc740 \ud655\uc2e0\ud558\uae30 \uc5b4\ub835\uc9c0\ub9cc \ud070 \ud3ed\uc758 \uc6c0\uc9c1\uc784\uc744 \uc608\uc0c1\ud558\ub294 \ud2b8\ub808\uc774\ub354\ub294 **\ub871 \uc2a4\ud2b8\ub798\ub4e4(\uac19\uc740 \ud589\uc0ac\uac00\uc758 \ucf5c\u00b7\ud48b\uc744 \ub3d9\uc2dc \ub9e4\uc218\ud574 \ud070 \ubcc0\ub3d9\uc5d0 \ubca0\ud305)** \ub610\ub294 **\ub871 \uc2a4\ud2b8\ub7ad\uae00(\ud589\uc0ac\uac00\ub97c \ub2e4\ub974\uac8c \ud55c \ucf5c\u00b7\ud48b \ub3d9\uc2dc \ub9e4\uc218\ub85c \ube44\uc6a9\uc744 \ub0ae\ucd98 \ubcc0\ub3d9\uc131 \uc804\ub7b5)**\uc744 \uac80\ud1a0\ud560 \uc218 \uc788\ub2e4.\n\n\ud5a5\ud6c4 \uc601\ub780\uc740\ud589\uacfc ECB\uc758 \uacb0\uc815\ub3c4 \uc911\uc694\ud558\ub2e4. \uc774\ub4e4\uc774 **\ube44\ub458\uae30\ud30c\uc801 \uc804\ud658(\uc644\ud654 \uc120\ud638\ub85c \uae30\uc6b8\uc5b4 \uae08\ub9ac \uc778\ud558\u00b7\uc644\ud654 \uac00\ub2a5\uc131\uc744 \ud0a4\uc6b0\ub294 \ubcc0\ud654)**\uc744 \ubcf4\uc774\uba74 \ub2ec\ub7ec \uac15\uc138\uac00 \ub354 \uac15\ud654\ub420 \uc218 \uc788\ub2e4. \ubbf8\uad6d\uc758 \uc2e4\uc5c5\uc218\ub2f9 \uccad\uad6c \uc9c0\ud45c\ub3c4 \uacbd\uae30 \uccb4\ub825\uc744 \ub2e4\uc2dc \ud655\uc778\ud558\uac8c \ud574\uc900\ub2e4. \uc5ec\ub7ec \ubcc0\uc218\uac00 \ub9de\ubb3c\ub9ac\uba74\uc11c \uae08 \uc635\uc158\uc758 **\ub0b4\uc7ac\ubcc0\ub3d9\uc131(\uc635\uc158 \uac00\uaca9\uc5d0 \ubc18\uc601\ub41c \uc608\uc0c1 \ubcc0\ub3d9\uc131)**\uc740 \ub192\uc740 \uc218\uc900\uc744 \uc720\uc9c0\ud560 \uac00\ub2a5\uc131\uc774 \ud06c\uace0, \uc774\ub294 \uc8fc\uc694 \uc774\ubca4\ud2b8\ub97c \ub118\uaca8 \uc7a5\uae30 \ud3ec\uc9c0\uc158\uc744 \ubcf4\uc720\ud558\ub294 \ube44\uc6a9\uc744 \ud0a4\uc6b8 \uc218 \uc788\ub2e4.\n

\n\n

\uc9c0\uae08 \ubc14\ub85c \uac70\ub798\ub97c \uc2dc\uc791\ud558\uc138\uc694 – VT Markets \uc2e4\uacc4\uc88c\ub97c \uac1c\uc124\ud558\ub824\uba74 \uc5ec\uae30<\/a>\ub97c \ud074\ub9ad\ud558\uc138\uc694 <\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":"

\uae08\uac12, \uc5f0\uc900 \ub9e4\ud30c\u00b7\ub2ec\ub7ec \uac15\uc138\uc5d0 4,700\ub2ec\ub7ec\ub85c \uae09\ub77d. PPI 3.4%\ub85c \uc778\ud50c\ub808 \uc555\ub825 \uc7ac\ud655\uc778. \uc911\ub3d9 \ud655\uc804 \uc6b0\ub824\ub294 \ubc18\ub4f1 \ubcc0\uc218. \uae30\uc220\uc120 \ubd95\uad34\u00b7GVZ 30\u2191\ub85c \ubcc0\ub3d9\uc131 \ud655\ub300, \uc635\uc158 \uc804\ub7b5 \ubd80\uc0c1.<\/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-41795","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\/41795","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=41795"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/41795\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=41795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=41795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=41795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}