{"id":43844,"date":"2026-04-02T04:56:41","date_gmt":"2026-04-02T04:56:41","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/dbs-%ec%9d%b4%ec%bd%94%eb%85%b8%eb%af%b8%ec%8a%a4%ed%8a%b8-%ec%b6%94%ec%95%84-%ea%b2%ac%ec%a1%b0%ed%95%9c-%ea%b1%b0%ec%8b%9c-%ec%97%ac%ea%b1%b4%ea%b3%bc-%ec%9e%90%ea%b8%88-%ec%9c%a0%ec%9e%85\/"},"modified":"2026-04-02T04:56:41","modified_gmt":"2026-04-02T04:56:41","slug":"dbs-%ec%9d%b4%ec%bd%94%eb%85%b8%eb%af%b8%ec%8a%a4%ed%8a%b8-%ec%b6%94%ec%95%84-%ea%b2%ac%ec%a1%b0%ed%95%9c-%ea%b1%b0%ec%8b%9c-%ec%97%ac%ea%b1%b4%ea%b3%bc-%ec%9e%90%ea%b8%88-%ec%9c%a0%ec%9e%85","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/dbs-%ec%9d%b4%ec%bd%94%eb%85%b8%eb%af%b8%ec%8a%a4%ed%8a%b8-%ec%b6%94%ec%95%84-%ea%b2%ac%ec%a1%b0%ed%95%9c-%ea%b1%b0%ec%8b%9c-%ec%97%ac%ea%b1%b4%ea%b3%bc-%ec%9e%90%ea%b8%88-%ec%9c%a0%ec%9e%85\/","title":{"rendered":"DBS \uc774\ucf54\ub178\ubbf8\uc2a4\ud2b8 \ucd94\uc544 \u201c\uacac\uc870\ud55c \uac70\uc2dc \uc5ec\uac74\uacfc \uc790\uae08 \uc720\uc785\uc774 \ub9d0\ub808\uc774\uc2dc\uc544 \ub9c1\uae43\ud654\uc640 \uc8fc\uc2dd\uc2dc\uc7a5\uc744 \uc9c0\uae08\uae4c\uc9c0 \ub5a0\ubc1b\ucce4\ub2e4\u201d"},"content":{"rendered":"\ub9d0\ub808\uc774\uc2dc\uc544 \uae08\uc735\uc2dc\uc7a5\uc740 \uc5f0\ucd08 \uc774\ud6c4 \uc0c1\uc2b9\uc138\ub97c \ubcf4\uc774\uace0 \uc788\ub2e4. \ub9c1\uae43(MYR, \ub9d0\ub808\uc774\uc2dc\uc544 \ud1b5\ud654)\uc740 0.3% \uc62c\ub790\uace0, \ub300\ud45c \uc8fc\uac00\uc9c0\uc218(\ubca4\uce58\ub9c8\ud06c \uc9c0\uc218)\ub3c4 0.6% \uc0c1\uc2b9\ud588\ub2e4. \uc774\ub7ec\ud55c \uc6c0\uc9c1\uc784\uc740 \uc911\ub3d9 \uae34\uc7a5 \ub4f1 \uae00\ub85c\ubc8c \ubd88\ud655\uc2e4\uc131\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0, \uac70\uc2dc\uacbd\uc81c(\uad6d\uac00 \uc804\uccb4 \uacbd\uc81c) \uc5ec\uac74\uc774 \ube44\uad50\uc801 \uc548\uc815\uc801\uc774\uace0 \ud574\uc678 \uc790\uae08 \uc720\uc785(\uc790\ubcf8 \uc720\uc785)\uc774 \uc774\uc5b4\uc9c4 \uc601\ud5a5\uc73c\ub85c \ud480\uc774\ub41c\ub2e4.\n\n\ub9d0\ub808\uc774\uc2dc\uc544 \uc911\uc559\uc740\ud589\uc778 \ubc45\ud06c \ub124\uac00\ub77c \ub9d0\ub808\uc774\uc2dc\uc544(Bank Negara Malaysia\u00b7BNM)\ub294 3\uc6d4 31\uc77c \uc804\ub9dd\uc744 \uc5c5\ub370\uc774\ud2b8\ud558\uba70 2026\ub144 \uad6d\ub0b4\ucd1d\uc0dd\uc0b0(GDP, \ud55c \ub098\ub77c\uc5d0\uc11c \uc0dd\uc0b0\ub41c \uc7ac\ud654\u00b7\uc11c\ube44\uc2a4\uc758 \ucd1d\uc561) \uc131\uc7a5\ub960\uc744 4.0~5.0%\ub85c \uc81c\uc2dc\ud588\ub2e4. \uc774\ub294 2026\ub144 \uc608\uc0b0\uc548(Budget 2026)\uc758 \uc815\ubd80 \uc804\ub9dd\uce58 4.0~4.5%, DBS\uc758 4.7% \uc804\ub9dd\uacfc \ube44\uad50\ub41c\ub2e4.\n\n

\uc778\ud50c\ub808\uc774\uc158 \uc804\ub9dd\uacfc \uc815\ucc45 \uc2dc\uc0ac\uc810<\/h3>\nBNM\uc740 2026\ub144 \uc18c\ube44\uc790\ubb3c\uac00 \uc0c1\uc2b9\ub960(\ud5e4\ub4dc\ub77c\uc778 \uc778\ud50c\ub808\uc774\uc158, \uc5d0\ub108\uc9c0\u00b7\uc2dd\ud488 \ub4f1 \ubcc0\ub3d9\uc131\uc774 \ud070 \ud488\ubaa9\uae4c\uc9c0 \ud3ec\ud568\ud55c \uc804\uccb4 \ubb3c\uac00)\uc774 \ud3c9\uade0 1.5~2.5%\uac00 \ub420 \uac83\uc73c\ub85c \ubd24\ub2e4. \uc774\ub294 2026\ub144 \uc608\uc0b0\uc548\uc758 1.3~2.0%, DBS\uc758 2.0% \uc804\ub9dd\uacfc \ube44\uad50\ub41c\ub2e4. \ube44\uad50\uc801 \uc644\ub9cc\ud55c \ub300\uc678\u00b7\ub300\ub0b4 \ubb3c\uac00 \uc555\ub825(\uc218\uc785\ubb3c\uac00\u00b7\uc784\uae08\u00b7\uc218\uc694 \ub4f1\uc5d0\uc11c \uc624\ub294 \uc0c1\uc2b9 \uc555\ub825)\uc744 \uc804\uc81c\ub85c \ud55c \ucd94\uc815\uc774\ub2e4.\n\n\uc911\uc559\uc740\ud589\uc740 2026\ub144\uc5d0\ub3c4 \ud1b5\ud654\uc815\ucc45(\uae30\uc900\uae08\ub9ac \ub4f1 \uae08\ub9ac \ubc29\ud5a5) \ubcc0\uacbd \uc5c6\uc774 \ub3d9\uacb0\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub41c\ub2e4. \uc774 \uacbd\uc6b0 \uad6d\ucc44\uae08\ub9ac(\ucc44\uad8c \uc218\uc775\ub960)\ub294 \uc804\ub9dd\uc774 \ud06c\uac8c \ubc14\ub00c\uc9c0 \uc54a\ub294 \ud55c \uc548\uc815\uc801\uc73c\ub85c \uc720\uc9c0\ub420 \uac00\ub2a5\uc131\uc774 \ud06c\ub2e4.\n\n\uacac\uc870\ud55c \uac70\uc2dc \uc5ec\uac74\uc744 \ubc14\ud0d5\uc73c\ub85c \ub2e8\uae30\uc801\uc73c\ub85c \ub9c1\uae43\uc740 \ub2ec\ub7ec \ub300\ube44 \uc548\uc815 \ud750\ub984\uc744 \uc774\uc5b4\uac08 \uac83\uc73c\ub85c \ubcf4\uc778\ub2e4. BNM\uc774 \uae08\ub9ac\ub97c \ub3d9\uacb0\ud558\uba74, USD\/MYR \uc635\uc158\uc758 \ub0b4\uc7ac\ubcc0\ub3d9\uc131(\uc635\uc158 \uac00\uaca9\uc5d0 \ubc18\uc601\ub41c \uc2dc\uc7a5\uc758 \uc608\uc0c1 \ubcc0\ub3d9\uc131)\uc740 \ub0ae\uc544\uc9c8 \uc218 \uc788\ub2e4. \uc774\uc5d0 \ub530\ub77c \ubcc0\ub3d9\uc131\uc774 \ub0ae\uc544\uc9c8 \ub54c \uc774\uc775\uc744 \ub178\ub9ac\ub294 \u2018\ubcc0\ub3d9\uc131 \ub9e4\ub3c4\u2019 \uc804\ub7b5\uc774 \uae30\ud68c\uac00 \ub420 \uc218 \uc788\ub2e4. \uc608\ucee8\ub300 \uc20f \uc2a4\ud2b8\ub7ad\uae00(short strangle)\uc740 \ud589\uc0ac\uac00\uac00 \ub2e4\ub978 \ucf5c\uc635\uc158\uacfc \ud48b\uc635\uc158\uc744 \ub3d9\uc2dc\uc5d0 \ub9e4\ub3c4\ud574, \ud658\uc728\uc774 \uc77c\uc815 \ubc94\uc704\uc5d0 \uba38\ubb34\ub97c \ub54c \ud504\ub9ac\ubbf8\uc5c4(\uc635\uc158 \uac00\uaca9) \uc218\ucde8\ub97c \ub178\ub9ac\ub294 \uc804\ub7b5\uc774\ub2e4.\n\n\uc774 \uac19\uc740 \uc804\ub7b5\uc740 2026\ub144 3\uc6d4 \uacbd\uc81c\uc9c0\ud45c\uc640\ub3c4 \ub9de\ubb3c\ub9b0\ub2e4. \ub2f9\uc2dc \ud5e4\ub4dc\ub77c\uc778 \uc778\ud50c\ub808\uc774\uc158\uc740 1.8%\ub85c BNM \uc804\ub9dd \ubc94\uc704 \uc548\uc5d0\uc11c \uc548\uc815\uc801\uc73c\ub85c \uc720\uc9c0\ub410\ub2e4. \ub610\ud55c 1\ubd84\uae30 \uc218\ucd9c\uc740 \uc804\ub144 \ub3d9\uae30 \ub300\ube44 4.2% \uc99d\uac00\ud588\uc73c\uba70, \uc804\uc790(\ubc18\ub3c4\uccb4\u00b7\ubd80\ud488 \ub4f1) \uc5c5\uc885 \ud68c\ubcf5\uc774 \uc0c1\uc2b9\uc744 \uc774\ub04c\uc5c8\ub2e4. \uc774\ub294 \uc131\uc7a5 \uc804\ub9dd\uc774 \uacfc\ub3c4\ud558\uac8c \ub099\uad00\uc801\uc774\uc9c0 \uc54a\uc74c\uc744 \ub4b7\ubc1b\uce68\ud558\uba70, \uc911\uc559\uc740\ud589\uc774 \ub2f9\uc7a5 \uc815\ucc45 \uae30\uc870\ub97c \ubc14\uafc0 \uc720\uc778\uc774 \ud06c\uc9c0 \uc54a\ub2e4\ub294 \ud310\ub2e8\uc5d0 \ud798\uc744 \uc2e3\ub294\ub2e4.\n\n

\uae08\ub9ac \ubcc0\ub3d9\uc131\uacfc \uc218\uc775\ub960\uace1\uc120 \uc548\uc815<\/h3>\n\uae08\ub9ac \ud30c\uc0dd\uc0c1\ud488(\uae08\ub9ac \uc6c0\uc9c1\uc784\uc5d0 \uc5f0\ub3d9\ub418\ub294 \uc120\ubb3c\u00b7\uc2a4\uc651\u00b7\uc635\uc158 \ub4f1) \uce21\uba74\uc5d0\uc11c\ub294 \uc815\ucc45\uae08\ub9ac(\uc911\uc559\uc740\ud589 \uae30\uc900\uae08\ub9ac)\uac00 \uace0\uc815\ub3fc \uc788\uc73c\uba74 \ub9d0\ub808\uc774\uc2dc\uc544 \uad6d\ucc44(MGS, Malaysian Government Securities) \uc218\uc775\ub960\uc758 \ubcc0\ub3d9 \ud3ed\ub3c4 \uc81c\ud55c\ub420 \uac00\ub2a5\uc131\uc774 \ud06c\ub2e4. \uc218\uc775\ub960\uace1\uc120(yield curve, \ub9cc\uae30\ubcc4 \uad6d\ucc44\uae08\ub9ac\ub97c \uc5f0\uacb0\ud55c \uace1\uc120)\ub3c4 \uc548\uc815\uc801\uc77c \uac83\uc73c\ub85c \uc608\uc0c1\ub3fc, \uae08\ub9ac \ubc29\ud5a5\uc131\uc5d0 \ubca0\ud305\ud558\ub294 \uc804\ub7b5\uc5d0\ub294 \ubd88\ub9ac\ud55c \ud658\uacbd\uc77c \uc218 \uc788\ub2e4. \ub300\uc2e0 \uc2a4\uc651\uc158(swaption, \uae08\ub9ac\uc2a4\uc651\uc744 \uccb4\uacb0\ud560 \uc218 \uc788\ub294 \u2018\uad8c\ub9ac\u2019\uc778 \uc635\uc158) \ub9e4\ub3c4 \ub4f1 \uae08\ub9ac \ubcc0\ub3d9\uc131 \ub9e4\ub3c4\ub294 \uc218\uc775 \ucc3d\ucd9c(\ud504\ub9ac\ubbf8\uc5c4 \uc218\ucde8) \ub300\uc548\uc774 \ub420 \uc218 \uc788\ub2e4.\n\n\ub2e4\ub9cc \ub300\uc678 \ub9ac\uc2a4\ud06c\ub294 \uacbd\uacc4\ud574\uc57c \ud55c\ub2e4. 2025\ub144\uc5d0\ub294 \ubbf8\uad6d \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Fed\u00b7\uc5f0\uc900)\uc758 \uc815\ucc45 \uc2e0\ud638\ub85c \uc2e0\ud765\uad6d\uc5d0\uc11c \ub2e8\uae30 \uc790\uae08 \uc720\ucd9c\uc774 \ub098\ud0c0\ub098\uba70 \uc2dc\uc7a5\uc774 \ud754\ub4e4\ub9b0 \uc801\uc774 \uc788\ub2e4. \ub9d0\ub808\uc774\uc2dc\uc544 \uc5ec\uac74\uc774 \uc0c1\ub300\uc801\uc73c\ub85c \uacac\uc870\ud558\ub354\ub77c\ub3c4, \uc8fc\uc694 \uc911\uc559\uc740\ud589\uc774 \uc608\uc0c1\ubcf4\ub2e4 \ub354 \ub9e4\ud30c\uc801(\ubb3c\uac00 \uc5b5\uc81c\ub97c \uc704\ud574 \uae08\ub9ac\ub97c \ub354 \uc62c\ub9ac\ub824\ub294 \uc131\ud5a5)\uc73c\ub85c \ubcc0\ud558\uba74 \ud604\uc7ac\uc758 \uc548\uc815\uc774 \uae68\uc9c8 \uc218 \uc788\ub2e4. \ub530\ub77c\uc11c \ubcc0\ub3d9\uc131 \ub9e4\ub3c4 \ud3ec\uc9c0\uc158\uc740 \uc190\uc808 \uae30\uc900, \ud3ec\uc9c0\uc158 \ud55c\ub3c4 \ub4f1 \uc5c4\uaca9\ud55c \uc704\ud5d8\uad00\ub9ac(\ub9ac\uc2a4\ud06c \ud30c\ub77c\ubbf8\ud130)\uac00 \ud544\uc218\ub2e4.\n\n\uc8fc\uc2dd \ud30c\uc0dd\uc2dc\uc7a5\uc5d0\uc11c\ub294 \uc548\uc815\uc801 \uc131\uc7a5\uc138\uac00 \uae30\uc5c5 \uc2e4\uc801\uc758 \uae30\ubc18\uc774 \ub41c\ub2e4. \ub300\ud45c\uc9c0\uc218\uc778 FBM KLCI\uac00 \uc5f0\ucd08 \uc774\ud6c4 \uc644\ub9cc\ud55c \uc0c1\uc2b9\uc744 \ubcf4\uc778 \ub9cc\ud07c \ucd94\uac00 \uc0c1\uc2b9 \uc5ec\uc9c0\ub3c4 \uc788\uc73c\ub098, \uc0c1\uc2b9 \ud3ed\uc740 \uc81c\ud55c\uc801\uc77c \uc218 \uc788\ub2e4. \ucf5c \uc2a4\ud504\ub808\ub4dc(call spread)\ub294 \ub0ae\uc740 \ud589\uc0ac\uac00\uc758 \ucf5c\uc635\uc158\uc744 \ub9e4\uc218\ud558\uace0 \ub354 \ub192\uc740 \ud589\uc0ac\uac00\uc758 \ucf5c\uc635\uc158\uc744 \ub9e4\ub3c4\ud574 \ube44\uc6a9\uc744 \uc904\uc774\uba74\uc11c \uc0c1\uc2b9\uc5d0 \ucc38\uc5ec\ud558\ub418, \ucd5c\ub300 \uc190\uc2e4\uc744 \ud1b5\uc81c\ud558\ub294 \uc804\ub7b5\uc73c\ub85c \ud65c\uc6a9 \uac00\ub2a5\ud558\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":"

\uc911\ub3d9 \ub9ac\uc2a4\ud06c\uc5d0\ub3c4 \ub9d0\ub808\uc774\uc2dc\uc544 \uae08\uc735\uc2dc\uc7a5 \u2018\uc120\ubc29\u2019: \ub9c1\uae43\u00b7\uc8fc\uac00 \uc0c1\uc2b9, \ud574\uc678\uc790\uae08 \uc720\uc785 \uc9c0\uc18d. BNM\uc740 2026\ub144 \uc131\uc7a5 4~5%, \ubb3c\uac00 1.5~2.5% \uc81c\uc2dc. \uae08\ub9ac \ub3d9\uacb0 \ub550 \ubcc0\ub3d9\uc131 \ub9e4\ub3c4 \uc720\ud6a8.<\/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-43844","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\/43844","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=43844"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/43844\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=43844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=43844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=43844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}