{"id":48099,"date":"2026-02-27T18:43:56","date_gmt":"2026-02-27T18:43:56","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/bbh%ec%9d%98-%ec%97%98%eb%a6%ac%ec%95%84%ec%8a%a4-%ed%95%98%eb%8b%a4%eb%93%9c%eb%8a%94-%ec%a3%bc%ec%9a%94-%ec%a7%80%ed%91%9c-%eb%b0%9c%ed%91%9c%ea%b0%80-%eb%b6%80%ec%a7%84%ed%95%9c-%ea%b0%80%ec%9a%b4\/"},"modified":"2026-02-27T18:43:56","modified_gmt":"2026-02-27T18:43:56","slug":"bbh%ec%9d%98-%ec%97%98%eb%a6%ac%ec%95%84%ec%8a%a4-%ed%95%98%eb%8b%a4%eb%93%9c%eb%8a%94-%ec%a3%bc%ec%9a%94-%ec%a7%80%ed%91%9c-%eb%b0%9c%ed%91%9c%ea%b0%80-%eb%b6%80%ec%a7%84%ed%95%9c-%ea%b0%80%ec%9a%b4","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/bbh%ec%9d%98-%ec%97%98%eb%a6%ac%ec%95%84%ec%8a%a4-%ed%95%98%eb%8b%a4%eb%93%9c%eb%8a%94-%ec%a3%bc%ec%9a%94-%ec%a7%80%ed%91%9c-%eb%b0%9c%ed%91%9c%ea%b0%80-%eb%b6%80%ec%a7%84%ed%95%9c-%ea%b0%80%ec%9a%b4\/","title":{"rendered":"BBH\uc758 \uc5d8\ub9ac\uc544\uc2a4 \ud558\ub2e4\ub4dc\ub294 \uc8fc\uc694 \uc9c0\ud45c \ubc1c\ud45c\uac00 \ubd80\uc9c4\ud55c \uac00\uc6b4\ub370 \uad6d\ucc44 \uae08\ub9ac\ub294 \ud558\ub77d\ud558\uace0 \uc8fc\uc2dd\uc740 \uc57d\uc138\ub97c \ubcf4\uc774\uba74\uc11c \ub2ec\ub7ec\uac00 \ubc15\uc2a4\uad8c\uc5d0 \uba38\ubb3c\ub7ec \uc788\ub2e4\uace0 \ub9d0\ud588\ub2e4."},"content":{"rendered":"\ubbf8\uad6d \ub2ec\ub7ec(US Dollar)\ub294 \ud1b5\ud654\uc815\ucc45\uc5d0 \uc601\ud5a5\uc744 \uc904 \ub9cc\ud55c \uacbd\uc81c \uc9c0\ud45c \ubc1c\ud45c\uac00 \ub9ce\uc9c0 \uc54a\uc740 \uac00\uc6b4\ub370 \uc881\uc740 \ubc94\uc704\uc5d0\uc11c \uac70\ub798\ub418\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ub3d9\uc2dc\uc5d0 S&P 500 \uc120\ubb3c(\ubbf8\uad6d \uc8fc\uac00\uc9c0\uc218\uc778 S&P 500\uc744 \ubbf8\ub798 \uc2dc\uc810\uc5d0 \uc0ac\uace0\ud30c\ub294 \uacc4\uc57d)\uc740 \uc8fc\uc2dd \uc57d\uc138\uac00 \ub354 \uc774\uc5b4\uc9c8 \uc218 \uc788\uc74c\uc744 \uac00\ub9ac\ud0a4\uace0, \ubbf8 \uad6d\ucc44 \uae08\ub9ac(Treasury yields, \ubbf8\uad6d \uc815\ubd80 \ucc44\uad8c\uc758 \uc218\uc775\ub960)\ub294 \ud558\ub77d\ud588\uc2b5\ub2c8\ub2e4.\n\n\ubbf8 \uad6d\ucc44 \uac00\uaca9(US Treasuries, \ubbf8\uad6d \uc815\ubd80\uac00 \ubc1c\ud589\ud55c \ucc44\uad8c)\uc740 \uc0c1\uc2b9\ud588\uace0, 10\ub144\ubb3c \uae08\ub9ac(10-year yield, \ub9cc\uae30 10\ub144 \uad6d\ucc44\uc758 \uc218\uc775\ub960)\ub294 2025\ub144 11\uc6d4 \ub9d0 \uc774\ud6c4 \ucc98\uc74c\uc73c\ub85c 4.00% \uc544\ub798\ub85c \ub0b4\ub824\uac14\uc2b5\ub2c8\ub2e4. \uae30\ub300 \uc778\ud50c\ub808\uc774\uc158(breakeven inflation rates, \uad6d\ucc44\uc640 \ubb3c\uac00\uc5f0\ub3d9\uad6d\ucc44\uc758 \uae08\ub9ac \ucc28\uc774\ub85c \uc2dc\uc7a5\uc774 \uc608\uc0c1\ud558\ub294 \ud3c9\uade0 \ubb3c\uac00\uc0c1\uc2b9\ub960)\uc740 \uc774\ubc88 \uc6c0\uc9c1\uc784 \ub3d9\uc548 \ub300\uccb4\ub85c \uc548\uc815\uc801\uc774\uc5c8\uc2b5\ub2c8\ub2e4.\n\n

\uc548\uc804\uc790\uc0b0 \uc218\uc694\uc640 \ud558\ub77d\ud55c \uae08\ub9ac<\/h3>\n\uae08\ub9ac \ud558\ub77d\uc740 \uc548\uc804\uc790\uc0b0 \uc120\ud638(safe-haven demand, \uc704\ud5d8\uc744 \ud53c\ud558\ub824\ub294 \uc790\uae08\uc774 \uc0c1\ub300\uc801\uc73c\ub85c \uc548\uc804\ud558\ub2e4\uace0 \uc5ec\uaca8\uc9c0\ub294 \uc790\uc0b0\uc73c\ub85c \uc774\ub3d9\ud558\ub294 \ud604\uc0c1) \uc99d\uac00\uc640 \uad00\ub828\uc774 \uc788\uc2b5\ub2c8\ub2e4. \uc5ec\uae30\uc5d0\ub294 \u201cAI \uacf5\ud3ec \uac70\ub798(AI scare trade, \uc778\uacf5\uc9c0\ub2a5 \uad00\ub828 \ub9ac\uc2a4\ud06c\ub97c \uc6b0\ub824\ud574 \uc704\ud5d8\uc790\uc0b0\uc744 \uc904\uc774\uac70\ub098 \ubc29\uc5b4 \ud3ec\uc9c0\uc158\uc744 \ub9cc\ub4dc\ub294 \uc2dc\uc7a5 \uc6c0\uc9c1\uc784)\u201d\uc5d0 \ub530\ub978 \ud5e4\uc9c0(hedging, \uac00\uaca9 \ubcc0\ub3d9 \uc704\ud5d8\uc744 \uc904\uc774\uae30 \uc704\ud574 \ubc18\ub300 \ubc29\ud5a5 \uac70\ub798\ub97c \ud568\uaed8 \ud558\ub294 \uac83)\ub3c4 \ud3ec\ud568\ub429\ub2c8\ub2e4. \ub610\ud55c \uc9c0\ud45c \ud658\uacbd\uc740 \uc778\ud50c\ub808\uc774\uc158 \uc555\ub825(\ubb3c\uac00\ub97c \uc62c\ub9ac\ub294 \ud798)\uc774 \uc57d\ud574\uc9c0\uace0, \uad6d\ub0b4 \uc218\uc694(\ub0b4\uc218)\uac00 \ubd80\uc9c4\ud574\uc9c0\uace0 \uc788\uc74c\uc744 \uc2dc\uc0ac\ud569\ub2c8\ub2e4.\n\n\uc5f0\uc900(Fed, \ubbf8\uad6d \uc911\uc559\uc740\ud589) \uc774\uc0ac \uc2a4\ud2f0\ube10 \ubbf8\ub780(Stephen Miran)\uc740 \ub354 \ube60\ub978 \uae30\uc900\uae08\ub9ac \uc778\ud558\ub97c \ub2e4\uc2dc \uc8fc\uc7a5\ud558\uba70 \u201c\uc62c\ud574 4\ubc88 \uc778\ud558[\ucd1d 100bp]\u201d\uac00 \uc801\uc808\ud558\ub2e4\uace0 \ub9d0\ud588\uace0, \ub354 \uc774\ub978 \uc2dc\uc810\uc744 \uc120\ud638\ud588\uc2b5\ub2c8\ub2e4. \uc5f0\ubc29\uae30\uae08\uae08\ub9ac \uc120\ubb3c(Fed funds futures, \ud5a5\ud6c4 \uc815\ucc45\uae08\ub9ac\ub97c \uc2dc\uc7a5\uc774 \uc5b4\ub5bb\uac8c \uc608\uc0c1\ud558\ub294\uc9c0 \ubcf4\uc5ec\uc8fc\ub294 \uc120\ubb3c)\uc740 \uc5f0\ub9d0\uae4c\uc9c0 50bp(\ubca0\uc774\uc2dc\uc2a4\ud3ec\uc778\ud2b8, \uae08\ub9ac 0.01%p \ub2e8\uc704) \uc644\ud654\ub97c \uc644\uc804\ud788 \ubc18\uc601\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.\n\n\uae08\ub9ac\uac00 \ub0ae\uc544\uc84c\uace0 \uc815\ucc45\uc744 \ubc14\uafc0 \ub9cc\ud55c \uc0c8\ub85c\uc6b4 \uc9c0\ud45c\uac00 \uc5c6\ub294 \uc0c1\ud669\uc5d0\uc11c, \uc5f0\uc900\uc740 \uae08\ub9ac \uc778\ud558\ub97c \ub2e4\uc2dc \uc2dc\uc791\ud558\uae30 \uc804\uc5d0 \uae30\ub2e4\ub9b4 \uc218 \uc788\ub2e4\uace0 \ubcf4\uc785\ub2c8\ub2e4. \uc774 \uae00\uc740 AI \ub3c4\uad6c\ub85c \uc791\uc131\ub410\uace0 \ud3b8\uc9d1\uc790\uac00 \uac80\ud1a0\ud588\uc2b5\ub2c8\ub2e4.\n\n\ubbf8\uad6d \ub2ec\ub7ec\ub294 \uc881\uc740 \ubc94\uc704\uc5d0 \uac07\ud600 \uc788\uace0, \uc774\ub7f0 \ubc29\ud5a5\uc131 \ubd80\uc7ac\ub294 \ud30c\uc0dd\uc0c1\ud488(derivatives, \uac00\uaca9\uc774 \ub2e4\ub978 \uc790\uc0b0\uc5d0 \u2018\uc5f0\ub3d9\u2019\ub418\ub294 \uac70\ub798 \uc0c1\ud488) \ud2b8\ub808\uc774\ub354\uc5d0\uac8c \uae30\ud68c\uac00 \ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4. S&P 500 \uc120\ubb3c\uc774 \uc57d\uc138\ub97c \ubcf4\uc774\uace0 10\ub144\ubb3c \uae08\ub9ac\uac00 4.00% \uc544\ub798\ub85c \ub0b4\ub824\uac00\uba74\uc11c, \uc2dc\uc7a5\uc740 \uc5c7\uac08\ub9b0 \uc2e0\ud638\ub97c \ubcf4\ub0b4\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc774\ub7f0 \ud658\uacbd\uc5d0\uc11c\ub294 \ub0ae\uc740 \ubcc0\ub3d9\uc131(low volatility, \uac00\uaca9\uc774 \ud06c\uac8c \uc6c0\uc9c1\uc774\uc9c0 \uc54a\ub294 \uc0c1\ud0dc)\uc5d0\uc11c \uc774\uc775\uc744 \ub178\ub9ac\ub294 \uc804\ub7b5\uc774 \uc720\ub9ac\ud55c \uacbd\uc6b0\uac00 \ub9ce\uc2b5\ub2c8\ub2e4.\n\n

\ubc15\uc2a4\uad8c\uc740 \ubcc0\ub3d9\uc131 \ub9e4\ub3c4\uc5d0 \uc720\ub9ac<\/h3>\n\ucd5c\uadfc \uc218\uce58\uc5d0\uc11c\ub3c4 \uc774\ub7f0 \ub454\ud654 \uc2e0\ud638\uac00 \ubcf4\uc774\uba70, \uc774\ub294 \uc5f0\uc900\uc774 \uc11c\ub450\ub974\uc9c0 \uc54a\ub294 \ud0dc\ub3c4(patient stance, \ubc14\ub85c \uc6c0\uc9c1\uc774\uc9c0 \uc54a\uace0 \uc9c0\ud45c\ub97c \ub354 \uc9c0\ucf1c\ubcf4\ub294 \uc785\uc7a5)\ub97c \uc9c0\uc9c0\ud569\ub2c8\ub2e4. \uc608\ub97c \ub4e4\uc5b4 1\uc6d4 \uadfc\uc6d0 CPI(core CPI, \uc2dd\ub8cc\ud488\u00b7\uc5d0\ub108\uc9c0\ucc98\ub7fc \ubcc0\ub3d9\uc774 \ud070 \ud488\ubaa9\uc744 \ube80 \uc18c\ube44\uc790\ubb3c\uac00\uc9c0\uc218)\ub294 2.9%\ub85c \ub098\uc640 \ubb3c\uac00\uac00 \uc2dd\uace0 \uc788\uc9c0\ub9cc \uae09\uaca9\ud788 \uaebe\uc778 \uac83\uc740 \uc544\ub2d9\ub2c8\ub2e4. \uc5ec\uae30\uc5d0 \uc18c\ub9e4\ud310\ub9e4(retail sales, \uc18c\ube44\uc790\uac00 \uc2e4\uc81c\ub85c \uc9c0\ucd9c\ud55c \ud310\ub9e4 \uaddc\ubaa8)\uac00 \uc9c0\ub09c\ub2ec \uc608\uc0c1\uacfc \ub2ec\ub9ac 0.6% \uac10\uc18c\ud55c \uc810\uae4c\uc9c0 \ub354\ud558\uba74, \uacbd\uc81c\uac00 \ud55c\ucabd \ubc29\ud5a5\uc73c\ub85c \ud06c\uac8c \uc6c0\uc9c1\uc77c \uac00\ub2a5\uc131\uc740 \ud06c\uc9c0 \uc54a\uc544 \ubcf4\uc785\ub2c8\ub2e4.\n\n\uc774\ub294 \uc55e\uc73c\ub85c \uba87 \uc8fc \ub3d9\uc548 \ubcc0\ub3d9\uc131 \ub9e4\ub3c4(selling volatility, \uac00\uaca9 \ubcc0\ub3d9\uc774 \ud06c\uc9c0 \uc54a\uc744 \uac83\uc73c\ub85c \ubcf4\uace0 \uc635\uc158\uc744 \ud314\uc544 \ud504\ub9ac\ubbf8\uc5c4\uc744 \ubc1b\ub294 \uc804\ub7b5)\ub97c \uace0\ub824\ud560 \ub9cc\ud558\ub2e4\ub294 \ub73b\uc785\ub2c8\ub2e4. \ubc15\uc2a4\uad8c(range-bound, \uc77c\uc815 \uac00\uaca9 \ubc94\uc704 \uc548\uc5d0\uc11c \uc624\ub974\ub0b4\ub9ac\ub294 \uc0c1\ud0dc)\uc774 \uc774\uc5b4\uc9c8 \uac00\ub2a5\uc131\uc774 \ud06c\uae30 \ub54c\ubb38\uc785\ub2c8\ub2e4. CBOE \ubcc0\ub3d9\uc131 \uc9c0\uc218(VIX, S&P 500\uc758 \u2018\uc608\uc0c1 \ubcc0\ub3d9\uc131\u2019\uc744 \ubcf4\uc5ec\uc8fc\ub294 \uc9c0\ud45c)\uac00 \ud604\uc7ac 14 \uc218\uc900\uc758 \ub0ae\uc740 \uad6c\uac04\uc5d0 \uba38\ubb3c\uace0 \uc788\uc5b4, \uc635\uc158 \ud504\ub9ac\ubbf8\uc5c4(options premiums, \uc635\uc158\uc744 \ud314 \ub54c \ubc1b\ub294 \uac00\uaca9)\ub3c4 \ub9e4\ub3c4\uc5d0 \ucda9\ubd84\ud788 \ub9e4\ub825\uc801\uc785\ub2c8\ub2e4. \ud1b5\ud654 ETF(Exchange-Traded Fund, \uac70\ub798\uc18c\uc5d0\uc11c \uc8fc\uc2dd\ucc98\ub7fc \uc0ac\uace0\ud30c\ub294 \uc0c1\uc7a5\uc9c0\uc218\ud380\ub4dc)\uc778 UUP(\ubbf8\uad6d \ub2ec\ub7ec \uac15\uc138\uc5d0 \uc5f0\ub3d9\ub418\ub294 ETF)\ub098 \uc8fc\uc694 \uc9c0\uc218\uc5d0 \ub300\ud574 \uc544\uc774\uc5b8 \ucf58\ub3c4\ub974(iron condor, \uc77c\uc815 \ubc94\uc704 \uc548\uc5d0 \uba38\ubb3c\uba74 \uc774\uc775\uc774 \ub098\ub294 \uc635\uc158 \uc870\ud569 \uc804\ub7b5) \uac19\uc740 \uc804\ub7b5\uc774 \uc774\ub7f0 \u2018\uc6c0\uc9c1\uc784 \ubd80\uc871\u2019\uc5d0\uc11c \uc720\ub9ac\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.\n\n\uc2dc\uc7a5\uc740 \uc62c\ud574 \uc57d 50bp\uc758 \uae08\ub9ac \uc778\ud558\ub97c \ubc18\uc601\ud558\uace0 \uc788\ub294\ub370, \uc774\ub294 \uc5f0\uc900\uc774 \ub354 \ub9ce\uc740 \uc9c0\ud45c\ub97c \uae30\ub2e4\ub9b4 \uc218 \uc788\ub2e4\ub294 \uc810\uc744 \uace0\ub824\ud558\uba74 \ubb34\ub9ac\ud55c \uc218\uc900\uc740 \uc544\ub2cc \ub4ef\ud569\ub2c8\ub2e4. \uc774\ub294 2025\ub144 \ub300\ubd80\ubd84 \uae30\uac04\uc5d0 \uacaa\uc5c8\ub358 \uae08\ub9ac \ubcc0\ub3d9\uc131(rate volatility, \uae08\ub9ac\uac00 \ud06c\uac8c \ud754\ub4e4\ub9ac\ub294 \uc0c1\ud669)\uacfc\ub294 \ub300\ube44\ub429\ub2c8\ub2e4. \uc5f0\uc900\uc758 \u2018\uae30\ub2e4\ub9bc\u2019 \uc804\ub9dd\uc744 \ubc14\uafc0 \ub9cc\ud55c \ud070 \uc9c0\ud45c\uac00 \ub098\uc624\uae30 \uc804\uae4c\uc9c0\ub294, \ud604\uc7ac\uc758 \uac70\ub798 \ubc94\uc704\uac00 \uc720\uc9c0\ub420 \uac83\uc5d0 \ubca0\ud305\ud558\ub294 \uac83\uc774 \ub354 \uc2e0\uc911\ud55c \uc811\uadfc\uc73c\ub85c \ubcf4\uc785\ub2c8\ub2e4.\n\n\n

VT Markets \ub77c\uc774\ube0c \uacc4\uc815\uc744 \ub9cc\ub4e4\uace0 \uc9c0\uae08 \ubc14\ub85c \uac70\ub798<\/a>\ub97c \uc2dc\uc791\ud558\uc138\uc694.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

\ub2ec\ub7ec\ub294 \uc881\uc740 \ubc15\uc2a4\uad8c\uc5d0 \uac07\ud614\uace0 S&P500 \uc120\ubb3c\uc740 \uc57d\uc138, 10\ub144\ubb3c \uae08\ub9ac\ub294 4% \uc544\ub798\ub85c \ud558\ub77d. \uc778\ud50c\ub808 \ub454\ud654\u00b7\uc18c\ube44 \uc57d\ud654\ub85c \uc5f0 50bp \uc778\ud558 \uae30\ub300\u2026\ubcc0\ub3d9\uc131 \ub9e4\ub3c4 \uae30\ud68c. – 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-48099","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\/48099","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=48099"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/48099\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=48099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=48099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=48099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}