{"id":44623,"date":"2026-04-14T16:50:33","date_gmt":"2026-04-14T16:50:33","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/3%ec%9b%94-%eb%af%b8%ea%b5%ad-%ea%b7%bc%ec%9b%90-%ec%83%9d%ec%82%b0%ec%9e%90%eb%ac%bc%ea%b0%80-%ec%a0%84%eb%85%84-%eb%8c%80%eb%b9%84-3-8-%ec%83%81%ec%8a%b9%ec%8b%9c%ec%9e%a5-%ec%a0%84\/"},"modified":"2026-04-14T16:50:33","modified_gmt":"2026-04-14T16:50:33","slug":"3%ec%9b%94-%eb%af%b8%ea%b5%ad-%ea%b7%bc%ec%9b%90-%ec%83%9d%ec%82%b0%ec%9e%90%eb%ac%bc%ea%b0%80-%ec%a0%84%eb%85%84-%eb%8c%80%eb%b9%84-3-8-%ec%83%81%ec%8a%b9%ec%8b%9c%ec%9e%a5-%ec%a0%84","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/3%ec%9b%94-%eb%af%b8%ea%b5%ad-%ea%b7%bc%ec%9b%90-%ec%83%9d%ec%82%b0%ec%9e%90%eb%ac%bc%ea%b0%80-%ec%a0%84%eb%85%84-%eb%8c%80%eb%b9%84-3-8-%ec%83%81%ec%8a%b9%ec%8b%9c%ec%9e%a5-%ec%a0%84\/","title":{"rendered":"3\uc6d4 \ubbf8\uad6d \uadfc\uc6d0 \uc0dd\uc0b0\uc790\ubb3c\uac00, \uc804\ub144 \ub300\ube44 3.8% \uc0c1\uc2b9\u2026\uc2dc\uc7a5 \uc804\ub9dd\uce58(4.2%) \ud558\ud68c"},"content":{"rendered":"

\ubbf8\uad6d\uc758 \uc2dd\ud488\u00b7\uc5d0\ub108\uc9c0\ub97c \uc81c\uc678\ud55c \uc0dd\uc0b0\uc790\ubb3c\uac00\uc9c0\uc218(PPI)\uac00 3\uc6d4\uc5d0 \uc804\ub144 \ub300\ube44 3.8% \uc0c1\uc2b9\ud588\ub2e4. \uc2dc\uc7a5 \uc608\uc0c1\uce58\ub294 4.2%\uc600\ub2e4.<\/p>\n

\uc774\ubc88 \uc218\uce58\ub294 \uc608\uc0c1\ubcf4\ub2e4 \ub0ae\uc558\ub2e4. \uc2dd\ud488\uacfc \uc5d0\ub108\uc9c0\ub97c \ube7c\uace0 \uae30\uc5c5\uc774 \ubb3c\uac74\uc744 \ub9cc\ub4e4\uac70\ub098 \uc720\ud1b5\ud560 \ub54c \ubc1b\ub294 \uac00\uaca9 \ubcc0\ud654(\uadfc\uc6d0 PPI)\ub97c \ub73b\ud55c\ub2e4.<\/p>\n

\uadfc\uc6d0 PPI, \ubb3c\uac00 \ub454\ud654 \uc2e0\ud638<\/h3>\n

\uc608\uc0c1\uce58\ub97c \ud558\ud68c\ud55c 3.8% \uadfc\uc6d0 PPI\ub294 \ubb3c\uac00(\uc778\ud50c\ub808\uc774\uc158) \uc555\ub825\uc774 \uaebe\uc774\uae30 \uc2dc\uc791\ud588\ub2e4\ub294 \ucd08\uae30 \uc2e0\ud638\ub85c \ud574\uc11d\ub41c\ub2e4. \uc27d\uac8c \ub9d0\ud574 \u2018\ubb3c\uac00\uac00 \uc798 \uc548 \ub0b4\ub824\uac00\ub294 \uc0c1\ud669(\uace0\ucc29\ud654\ub41c \uc778\ud50c\ub808\uc774\uc158)\u2019\uc774\ub77c\ub294 \uae30\uc874 \uc2dc\uac01\uc5d0 \uc81c\ub3d9\uc744 \uac74\ub2e4. \uc774\ub7f0 \uc0dd\uc0b0\uc790 \ub2e8\uacc4\uc758 \ubb3c\uac00 \ub454\ud654\ub294 \uc18c\ube44\uc790\ubb3c\uac00\uc9c0\uc218(CPI)\uc5d0\ub3c4 \uc2dc\uac04\uc774 \uc9c0\ub098 \ubc18\uc601\ub420 \uc218 \uc788\uc5b4, \ud5a5\ud6c4 CPI\uac00 \uc644\ud654\ub420 \uac00\ub2a5\uc131\uc744 \uc2dc\uc0ac\ud55c\ub2e4.<\/p>\n

\uc774 \uc218\uce58\ub294 \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Fed)\uc758 \ud1b5\ud654\uc815\ucc45 \uc804\ub9dd\ub3c4 \ubc14\uafbc\ub2e4. \u2018\ub9e4\ud30c\uc801 \uae30\uc870(\uae08\ub9ac \uc778\uc0c1\u00b7\uae34\ucd95\uc744 \uc120\ud638\ud558\ub294 \uc785\uc7a5)\u2019\uc5d0\uc11c \u2018\uc644\ud654 \ucabd\uc73c\ub85c \ubc29\ud5a5\uc744 \ubc14\uafb8\ub294 \uac83(\ud53c\ubc97)\u2019\uc774 \uc62c\ud574 \ud558\ubc18\uae30\uc5d0 \ub354 \uac00\ub2a5\ud574\uc84c\ub2e4\ub294 \ud3c9\uac00\ub2e4. 2022\ub144\uc5d0\ub294 \uc0dd\uc0b0\uc790\ubb3c\uac00\uac00 \ub192\uc740 \uc218\uc900\uc744 \uc624\ub798 \uc720\uc9c0\ud55c \ub4a4 \ud070 \ud3ed\uc758 \uae30\uc900\uae08\ub9ac \uc778\uc0c1\uc73c\ub85c \uc774\uc5b4\uc84c\ub294\ub370, \uc774\ubc88\uc5d0\ub294 \ubc18\ub300 \ud750\ub984\uc774 \ub098\ud0c0\ub09c \ub9cc\ud07c \uc758\ubbf8\uac00 \ud06c\ub2e4. \uc2dc\uc7a5\uc5d0\uc11c\ub294 \uae08\ub9ac \uc778\ud558 \uae30\ub300\uac00 \ucee4\uc84c\uace0, CME \uadf8\ub8f9 \uc790\ub8cc\uc5d0 \ub530\ub974\uba74 9\uc6d4 \uae08\ub9ac \uc778\ud558 \ud655\ub960\uc774 \ubc1c\ud45c \ud6c4 35%\uc5d0\uc11c \uc57d 60%\ub85c \ub6f0\uc5c8\ub2e4.<\/p>\n

\uae08\ub9ac \uc2dc\uc7a5\uc5d0\uc11c\ub294 \uc55e\uc73c\ub85c \uae08\ub9ac\uac00 \ub0b4\ub824\uac08 \uac00\ub2a5\uc131\uc5d0 \ub9de\ucd98 \uc804\ub7b5\uc774 \ubd80\uac01\ub41c\ub2e4. \ubbf8 \uad6d\ucc44 \uc120\ubb3c(\ud5a5\ud6c4 \uad6d\ucc44 \uac00\uaca9\uc744 \uac70\ub798\ud558\ub294 \uc0c1\ud488)\uc740 \uac15\uc138(\uac00\uaca9 \uc0c1\uc2b9) \ud750\ub984\uc774 \uc774\uc5b4\uc9c8 \uc218 \uc788\uc5b4, ZN(\ubbf8\uad6d 10\ub144\ubb3c \uad6d\ucc44 \uc120\ubb3c)\uc774\ub098 ZB(\ubbf8\uad6d 30\ub144\ubb3c \uad6d\ucc44 \uc120\ubb3c) \ucf5c\uc635\uc158(\uc815\ud574\uc9c4 \uac00\uaca9\uc5d0 \uc0b4 \uc218 \uc788\ub294 \uad8c\ub9ac) \ub9e4\uc218\uac00 \uc218\uc775 \uae30\ud68c\uac00 \ub420 \uc218 \uc788\ub2e4. SOFR \uc120\ubb3c(\ub2f4\ubcf4\ubd80 \ud558\ub8fb\ubc24 \uae08\ub9ac\uc778 SOFR\uc744 \ubc14\ud0d5\uc73c\ub85c \ud55c \uae08\ub9ac \uc120\ubb3c)\uc5d0\uc11c\ub294 \u2018\uc678\uac00\uaca9(out-of-the-money) \ucf5c\uc635\uc158 \ub9e4\ub3c4\u2019\ub85c \uae08\ub9ac \uace0\uc810 \ud1b5\uacfc \uc804\ub9dd\uc744 \ud45c\ud604\ud560 \uc218\ub3c4 \uc788\ub2e4. \uc678\uac00\uaca9\uc774\ub780 \ud604\uc7ac \uac00\uaca9\uc5d0\uc11c \uba40\ub9ac \ub5a8\uc5b4\uc838 \ub2f9\uc7a5 \uc774\uc775\uc774 \ub098\uae30 \uc5b4\ub824\uc6b4 \ud589\uc0ac\uac00\ub97c \ub73b\ud55c\ub2e4.<\/p>\n

\uc8fc\uc2dd\uc2dc\uc7a5\uc5d0\uc11c\ub294 \ubb3c\uac00 \ub454\ud654\uac00 \uc6b0\ud638\uc801 \uc694\uc778\uc73c\ub85c \uc791\uc6a9\ud558\uba70, \ud2b9\ud788 \uae08\ub9ac\uc5d0 \ubbfc\uac10\ud55c \uae30\uc220\uc8fc\u00b7\uc131\uc7a5\uc8fc\uc5d0 \uae0d\uc815\uc801\uc774\ub2e4. \ub098\uc2a4\ub2e5100\uacfc S&P500 \ud30c\uc0dd\uc0c1\ud488(\uc9c0\uc218\uc758 \uc6c0\uc9c1\uc784\uc744 \ubc14\ud0d5\uc73c\ub85c \ud55c \uc120\ubb3c\u00b7\uc635\uc158 \ub4f1)\uc5d0\uc11c\ub294 \ucf5c \uc2a4\ud504\ub808\ub4dc(\ucf5c\uc635\uc158\uc744 \uc0ac\uace0 \ub2e4\ub978 \ud589\uc0ac\uac00\uc758 \ucf5c\uc635\uc158\uc744 \ud30c\ub294 \uc870\ud569)\ub85c \uc0c1\uc2b9 \ub178\ucd9c\uc744 \ud655\ubcf4\ud558\ub294 \ubc29\uc2dd\uc758 \ub9e4\uc218 \uc804\ub7b5\uc774 \uac70\ub860\ub41c\ub2e4. \ubcc0\ub3d9\uc131\uc9c0\uc218(VIX)\ub294 \uc774\ubc88 \uc18c\uc2dd \uc774\ud6c4 12% \ud558\ub77d\ud574 14.5\uae4c\uc9c0 \ub0b4\ub824\uc654\ub294\ub370, \uc774\ub294 \uacf5\ud3ec\uac00 \uc904\uba74\uc11c \ubcc0\ub3d9\uc131 \ub9e4\ub3c4(\uac00\uaca9 \uae09\ubcc0 \uac00\ub2a5\uc131\uc774 \ub0ae\uc544\uc9c4\ub2e4\ub294 \ud310\ub2e8\uc73c\ub85c \uc635\uc158 \ud504\ub9ac\ubbf8\uc5c4\uc744 \ubc1b\ub294 \uc804\ub7b5)\ub97c \uac80\ud1a0\ud560 \uc5ec\uc9c0\uac00 \uc788\uc74c\uc744 \ub73b\ud55c\ub2e4.<\/p>\n

\ub2ec\ub7ec \uc57d\uc138\uc640 \ud658\uc728 \uc2dc\uc7a5 \ud3ec\uc9c0\uc154\ub2dd<\/h3>\n

Fed \uc804\ub9dd \ubcc0\ud654\ub294 \ub2ec\ub7ec \uc57d\uc138\ub85c \uc774\uc5b4\uc9c8 \uac00\ub2a5\uc131\uc774 \ud06c\ub2e4. \ub2ec\ub7ec\uc778\ub371\uc2a4(DXY\u00b7\uc8fc\uc694 \ud1b5\ud654 \ub300\ube44 \ub2ec\ub7ec \uac00\uce58\ub97c \ub098\ud0c0\ub0b4\ub294 \uc9c0\uc218)\ub294 \ud575\uc2ec\uc120\uc73c\ub85c \uc5ec\uaca8\uc9c0\ub294 104 \uc544\ub798\ub85c \ub0b4\ub824\uac00\uba70 \uc5f0\uc911 \uc800\uc810 \uc218\uc900\uc744 \uc2dc\ud5d8\ud558\uace0 \uc788\ub2e4. \uc774\uc5d0 \ub530\ub77c \uc720\ub85c, \uc5d4\ud654 \ub4f1 \ub2ec\ub7ec \ub300\ube44 \uc678\uad6d \ud1b5\ud654 \uac15\uc138\uc5d0 \ubca0\ud305\ud558\ub294 \uc804\ub7b5(\uc608: \ud574\ub2f9 \ud1b5\ud654 \ucf5c\uc635\uc158 \ub9e4\uc218)\uc774 \uac00\ub2a5\ud558\ub2e4\ub294 \ud3c9\uac00\ub2e4.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201c\ubb3c\uac00 \uace0\ucc29\ud654 \ub05d?\u201d \u7f8e 3\uc6d4 \uadfc\uc6d0 PPI 3.8%\ub85c \uc608\uc0c1(4.2%) \ud558\ud68c. \uc778\ud50c\ub808 \ub454\ud654 \uc2e0\ud638\uc5d0 Fed \ud558\ubc18\uae30 \ud53c\ubc97\u00b79\uc6d4 \uc778\ud558 \ud655\ub960 \uae09\ub4f1, \uae08\ub9ac\u2193\u00b7\ub2ec\ub7ec \uc57d\uc138 \uae30\ub300 \ud655\uc0b0.<\/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-44623","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\/44623","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=44623"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/44623\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=44623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=44623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=44623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}