{"id":49486,"date":"2026-06-09T16:23:25","date_gmt":"2026-06-09T16:23:25","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/bnp%ed%8c%8c%eb%a6%ac%eb%b0%94-%ec%8b%9c%ec%9e%a5-%eb%b3%80%eb%8f%99%ec%84%b1-%ec%86%8d-%ec%9c%a0%eb%9f%bd-%ec%95%88%ec%a0%84%ec%9e%90%ec%82%b0-%ec%9e%ac%ed%8f%89%ea%b0%80\/"},"modified":"2026-06-09T16:23:25","modified_gmt":"2026-06-09T16:23:25","slug":"bnp%ed%8c%8c%eb%a6%ac%eb%b0%94-%ec%8b%9c%ec%9e%a5-%eb%b3%80%eb%8f%99%ec%84%b1-%ec%86%8d-%ec%9c%a0%eb%9f%bd-%ec%95%88%ec%a0%84%ec%9e%90%ec%82%b0-%ec%9e%ac%ed%8f%89%ea%b0%80","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/bnp%ed%8c%8c%eb%a6%ac%eb%b0%94-%ec%8b%9c%ec%9e%a5-%eb%b3%80%eb%8f%99%ec%84%b1-%ec%86%8d-%ec%9c%a0%eb%9f%bd-%ec%95%88%ec%a0%84%ec%9e%90%ec%82%b0-%ec%9e%ac%ed%8f%89%ea%b0%80\/","title":{"rendered":"BNP\ud30c\ub9ac\ubc14, \uc2dc\uc7a5 \ubcc0\ub3d9\uc131 \uc18d \uc720\ub7fd \u2018\uc548\uc804\uc790\uc0b0\u2019 \uc7ac\ud3c9\uac00\u2026\uc720\ub85c\ud654 \ub9e4\ub825 \ubd80\uac01"},"content":{"rendered":"<p>BNP\ud30c\ub9ac\ubc14 \uc804\ub7b5\uac00\ub4e4\uc740 \ucd5c\uadfc \uc720\ub7fd\uc774 \u2018\uc548\uc804\uc790\uc0b0\u2019\uc73c\ub85c \uc7ac\ud3c9\uac00(rerating)\ub418\uace0 \uc788\uc73c\uba70, \uc2dc\uc7a5 \ubcc0\ub3d9\uc131\uc774 \ucee4\uc9c0\ub294 \uad6d\uba74\uc5d0\uc11c \uc720\ub85c\ud654\uac00 \uc810\ucc28 \uae00\ub85c\ubc8c \uc548\uc804\uc790\uc0b0\uc73c\ub85c \ucde8\uae09\ub418\uace0 \uc788\ub2e4\uace0 \ubc1d\ud614\ub2e4. BNP\ud30c\ub9ac\ubc14\ub294 \uc720\ub7fd\uc911\uc559\uc740\ud589(ECB)\uc758 \uc5f0\uad6c\ub97c \uadfc\uac70\ub85c \uc720\ub85c\ud654 \ud45c\uc2dc \uc790\uc0b0\uc5d0 \ub300\ud55c \uc218\uc694\uac00 \uac15\ud654\ub418\uace0 \uc788\ub2e4\uace0 \uc9c0\uc801\ud558\ub294 \ud55c\ud3b8, \ub3c5\uc77c \uad6d\ucc44(\ubd84\ud2b8)\uc758 \u2018\ud3b8\uc758\uc218\uc775(convenience yield)\u2019 \uc0c1\uc2b9\uc774 \uc720\ub85c\uc874 \uc804\ubc18\uc758 \uc790\uae08\uc870\ub2ec \uc5ec\uac74\uc5d0 \ud30c\uae09\ub418\uace0 \uc788\ub2e4\uace0 \uc124\uba85\ud588\ub2e4.<\/p>\n<p>\uc804\ub7b5\uac00\ub4e4\uc740 \ub610\ud55c \uc720\ub7fd\uc758 \uc0b0\uc5c5 \ud68c\ubcf5\ub825, \uc11c\ube44\uc2a4 \ubd80\ubb38\uc758 \uac15\uc138, \uae30\uc220 \ubd80\ubb38\uc758 \ubaa8\uba58\ud140, \uadf8\ub9ac\uace0 \uc815\ucc45\u00b7\uc9c0\uc815\ud559 \ud658\uacbd\uc758 \uac1c\uc120\uc744 \uadfc\uac70\ub85c \uc81c\uc2dc\ud588\ub2e4. \uc774\ub4e4\uc740 \ub3c5\uc77c \ubd84\ud2b8\uc758 \ud3b8\uc758\uc218\uc775\uc774 2023~2025\ub144 \ub3d9\uc548 30bp\uc5d0\uc11c 90bp\ub85c 3\ubc30 \uc99d\uac00\ud588\ub2e4\uace0 \ub367\ubd99\uc600\uc73c\uba70, \ub2e4\ub978 \uad6d\ucc44 \ubc0f \ubbfc\uac04 \uc720\ub85c\ud654 \ucc44\uad8c\uc774 \ubd84\ud2b8\ub97c \uae30\uc900\uc73c\ub85c \uac00\uaca9\uc774 \ud615\uc131\ub418\ub294 \ub9cc\ud07c \uc774\ub7ec\ud55c \ubcc0\ud654\uac00 \uc720\ub85c\uc874 \uc804\ubc18\uc758 \uc790\uae08\uc870\ub2ec \uc5ec\uac74\uc744 \ub4b7\ubc1b\uce68\ud55c\ub2e4\uace0 \uc8fc\uc7a5\ud588\ub2e4.<\/p>\n<h3>\uc720\ub85c\ud654\uc758 \uc548\uc804\uc790\uc0b0 \uc9c0\uc704\uc640 \uc2dc\uc7a5 \ud3ec\uc9c0\uc154\ub2dd<\/h3>\n<p>\ucd5c\uadfc \uae00\ub85c\ubc8c \uc2dc\uc7a5 \ud63c\ub780 \uad6d\uba74\uc5d0\uc11c \uc720\ub7fd\uc774 \uc548\uc815\uc758 \ud53c\ub09c\ucc98\ub85c \ubd80\uc0c1\ud558\uba74\uc11c \uc720\ub85c\ud654\uac00 \uc810\ucc28 \ub9e4\ub825\uc801\uc778 \uc790\uc0b0\uc73c\ub85c \ubd80\uac01\ub418\uace0 \uc788\ub2e4. \uc720\ub85c\ud654\ub294 \uacfc\uac70\uc640 \ub2ec\ub9ac \u2018\ub9ac\uc2a4\ud06c \uc624\ud504\u2019 \uad6d\uba74\uc5d0\uc11c \uc57d\uc138\ub97c \ubcf4\uc774\ub358 \uc5ed\uc0ac\uc801 \ud328\ud134\uc5d0\uc11c \ubc97\uc5b4\ub098, \uc774\uc804\ubcf4\ub2e4 \uc548\uc804\uc790\uc0b0\uc5d0 \uac00\uae4c\uc6b4 \uc6c0\uc9c1\uc784\uc744 \ubcf4\uc774\uace0 \uc788\ub2e4. \uc774\ub7ec\ud55c \uad6c\uc870\uc801 \ubcc0\ud654\ub294 \ud5a5\ud6c4 \uc218\uc8fc \ub3d9\uc548 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ud3ec\uc9c0\uc154\ub2dd\uc744 \uc7ac\uace0\ud574\uc57c \ud568\uc744 \uc2dc\uc0ac\ud55c\ub2e4.<\/p>\n<p>\uc6b0\ub9ac\ub294 \ud2b8\ub808\uc774\ub354\ub4e4\uc774 EUR\/USD \ucf5c\uc635\uc158 \ub9e4\uc218 \uc804\ub7b5\uc744 \uac80\ud1a0\ud558\ub418, \ub9cc\uae30\ub97c 7\uc6d4 \ub9d0~8\uc6d4\ub85c \uc124\uc815\ud558\ub294 \ubc29\uc548\uc744 \uace0\ub824\ud560 \ud544\uc694\uac00 \uc788\ub2e4\uace0 \ubcf8\ub2e4. \uc544\uc2dc\uc544 \uc9c0\uc5ed\uc758 \ucd5c\uadfc \uc9c0\uc815\ud559\uc801 \uae34\uc7a5\uc73c\ub85c \uc790\uae08\uc774 \uc720\ub7fd \uc790\uc0b0\uc73c\ub85c \uc720\uc785\ub418\uace0 \uc788\ub294\ub370, \uc774\ub294 \uc804\ud1b5\uc801\uc73c\ub85c \uae30\ub300\ub418\ub358 \ubbf8\uad6d \uad6d\ucc44(UST)\ub85c\uc758 \uc720\uc785\ubfd0 \uc544\ub2c8\ub77c \uc720\ub7fd\uc73c\ub85c\ub3c4 \uc790\uae08\uc774 \uc774\ub3d9\ud558\uace0 \uc788\uc74c\uc744 \uc758\ubbf8\ud55c\ub2e4. 2026\ub144 6\uc6d4 \uccab\uc9f8 \uc8fc \ub370\uc774\ud130\uc5d0\uc11c\ub3c4 \uc774\ub7ec\ud55c \ud750\ub984\uc774 \ud655\uc778\ub418\uba70, \uc720\ub85c\ud654 \ud45c\uc2dc \ud380\ub4dc\ub85c\uc758 \uc790\uae08 \uc720\uc785\uc774 \uac00\uc18d\ud654\ub41c \ubc18\uba74 \ubbf8\uad6d \uc8fc\uc2dd\ud615 \ud380\ub4dc\uc5d0\uc11c\ub294 \uc18c\ud3ed\uc758 \uc790\uae08 \uc720\ucd9c\uc774 \ub098\ud0c0\ub0ac\ub2e4.<\/p>\n<h3>\uac70\uc2dc \ud658\uacbd\uacfc \uc720\ub85c\uc874 \ud380\ub354\uba58\ud138<\/h3>\n<p>\uac70\uc2dc \ud658\uacbd \uc5ed\uc2dc \uc774\ub7ec\ud55c \uad00\uc810\uc744 \uc9c0\uc9c0\ud55c\ub2e4. 5\uc6d4 S&amp;P \uae00\ub85c\ubc8c \uc720\ub85c\uc874 \uc885\ud569 PMI\ub294 \uc11c\ube44\uc2a4 \ubd80\ubb38 \uc8fc\ub3c4\ub85c \uacac\uc870\ud55c 53.5\ub97c \uc720\uc9c0\ud588\ub2e4. \ubc18\uba74 \ucd5c\uadfc \ubbf8\uad6d \uc9c0\ud45c\ub294 \ub2e4\uc18c \uc57d\ud654\ub418\ub294 \ubaa8\uc2b5\uc73c\ub85c, \uc2e4\uc5c5\uc218\ub2f9 \uccad\uad6c \uac74\uc218\uac00 \uc18c\ud3ed \uc99d\uac00\ud588\uace0 \uc18c\ube44\uc790\uc2ec\ub9ac\ub294 \ud558\ub77d\ud588\ub2e4. \uc774\ub7ec\ud55c \ud380\ub354\uba58\ud138 \uaca9\ucc28\ub294 \uc0c1\ub300\uc801\uc778 \uc720\ub85c \uac15\uc138 \ub17c\uac70\ub97c \uac15\ud654\ud55c\ub2e4.<\/p>\n<p>\ub610\ud55c \uae08\ub9ac \ucc28(interest rate differentials)\ub3c4 \uc720\ub85c\ud654\uc5d0 \uc720\ub9ac\ud55c \ubc29\ud5a5\uc73c\ub85c \uc6c0\uc9c1\uc774\uace0 \uc788\ub2e4. \uc5f0\uc900(Fed)\uc774 \uc62c\ud574 \ud6c4\ubc18 \u2018\ub3c4\ube44\uc2dc \ud53c\ubc97\u2019 \uac00\ub2a5\uc131\uc744 \uc2dc\uc0ac\ud558\ub294 \uac00\uc6b4\ub370, ECB\ub294 \uadfc\uc6d0 \uc778\ud50c\ub808\uc774\uc158\uc774 \uc548\uc815\uc801\uc774\ub77c\ub294 \ud310\ub2e8 \uc544\ub798 \ube44\uad50\uc801 \uc548\uc815\uc801\uc778 \uc2a4\ud0e0\uc2a4\ub97c \uc720\uc9c0\ud558\uace0 \uc788\ub2e4. \uc815\ucc45 \uae30\uc870\uc758 \ucc28\ubcc4\ud654\ub85c \uae08\ub9ac \uc2a4\ud504\ub808\ub4dc\uac00 \ucd95\uc18c\ub418\uba74\uc11c \ub2ec\ub7ec\ub97c \ubcf4\uc720\ud558\ub294 \ub9e4\ub825\uc774 \uc720\ub85c \ub300\ube44 \ub0ae\uc544\uc9c0\uace0 \uc788\ub2e4.<\/p>\n<p>\uc544\uc6b8\ub7ec \ub3c5\uc77c \ubd84\ud2b8\uac00 \ub2e4\ub978 \uad6d\ucc44 \ub300\ube44 \ub192\uc740 \ud504\ub9ac\ubbf8\uc5c4\uc744 \uc720\uc9c0\ud558\uace0 \uc788\ub294\ub370, \uc774\ub294 \uc548\uc804\uc790\uc0b0\uc73c\ub85c\uc11c\uc758 \uc218\uc694\uac00 \ub192\ub2e4\ub294 \uc810\uc744 \ubc18\uc601\ud55c\ub2e4. \ub3c5\uc77c 10\ub144\ubb3c \ubd84\ud2b8\uc640 \ubbf8\uad6d \uad6d\ucc44 \uac04 \uc2a4\ud504\ub808\ub4dc\ub294 \uc9c0\ub09c \ud55c \ub2ec \ub3d9\uc548\ub9cc 15bp \uc774\uc0c1 \ucd95\uc18c\ub410\ub2e4. \uc720\ub7fd \ud575\uc2ec\uad6d \ucc44\uad8c\uc2dc\uc7a5\uc758 \uc774\ub7ec\ud55c \uae30\ucd08 \uccb4\ub825\uc740 \uc720\ub85c\uc874 \uc804\ubc18\uc5d0 \uacac\uace0\ud55c \uae30\ubc18\uc744 \uc81c\uacf5\ud55c\ub2e4.<\/p>\n<p>\uc774\ub7ec\ud55c \uc0c1\ud669\uc740 \uc720\ub85c\ud654\uac00 \ud06c\uac8c \uc57d\uc138\ub97c \ubcf4\uc600\ub358 2022\ub144 \uc5d0\ub108\uc9c0 \uc704\uae30\uc640\ub294 \ub69c\ub837\uc774 \ub2e4\ub974\ub2e4. \uc720\ub7fd\uc740 \ub179\uc0c9 \uc804\ud658\uc744 \uac00\uc18d\ud654\ud558\uace0 \uc5d0\ub108\uc9c0\uc6d0 \ub2e4\ubcc0\ud654\ub97c \ucd94\uc9c4\ud558\uba74\uc11c \uc0b0\uc5c5 \ud68c\ubcf5\ub825\uc774 \uac15\ud654\ub3fc \uc678\ubd80 \ucda9\uaca9\uc5d0 \ub300\ud55c \ucde8\uc57d\uc131\uc774 \ub0ae\uc544\uc84c\ub2e4. \ub530\ub77c\uc11c \uc2dc\uc7a5 \uc2a4\ud2b8\ub808\uc2a4 \uad6d\uba74\uc5d0\uc11c \uc720\ub85c\ud654\ub294 \uc57d\uc138\uac00 \uc544\ub2c8\ub77c \uac15\uc138\ub97c \ubcf4\uc77c \uac00\ub2a5\uc131\uc774 \ub192\ub2e4\uace0 \ubd10\uc57c \ud55c\ub2e4.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201c\uc720\ub7fd\uc774 \uc548\uc804\uc790\uc0b0\uc73c\ub85c \ub3cc\uc544\uc654\ub2e4?\u201d BNP\ud30c\ub9ac\ubc14\ub294 \uc720\ub85c\ud654\uc758 \uc548\uc804\uc790\uc0b0 \uc7ac\ud3c9\uac00\uc640 \ubd84\ud2b8 \ud3b8\uc758\uc218\uc775 \uae09\ub4f1(30\u219290bp)\uc744 \uadfc\uac70\ub85c \uc720\ub85c \uac15\uc138, EUR\/USD \ucf5c\uc635\uc158 \uc804\ub7b5\uc744 \uc81c\uc2dc\ud588\ub2e4.<\/p>\n","protected":false},"author":87,"featured_media":47768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-49486","post","type-post","status-publish","format-standard","has-post-thumbnail","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\/49486","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=49486"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/49486\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media\/47768"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=49486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=49486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=49486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}