{"id":40564,"date":"2026-03-20T04:59:01","date_gmt":"2026-03-20T04:59:01","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/40564\/"},"modified":"2026-03-20T04:59:01","modified_gmt":"2026-03-20T04:59:01","slug":"%e6%97%a5%e5%9c%93%e5%85%a8%e9%9d%a2%e8%b5%b0%e5%bc%b7%e4%bd%bf%e7%be%8e%e5%85%83%ef%bc%8f%e6%97%a5%e5%9c%93%e4%b8%8b%e8%b7%8c-1-25%ef%bc%8c%e8%b7%8c%e7%a0%b4-158-00-%e8%87%b3%e7%b4%84-157-80","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh-ca\/live-updates\/40564\/","title":{"rendered":"\u65e5\u5713\u5168\u9762\u8d70\u5f37\u4f7f\u7f8e\u5143\uff0f\u65e5\u5713\u4e0b\u8dcc 1.25%\uff0c\u8dcc\u7834 158.00 \u81f3\u7d04 157.80"},"content":{"rendered":"\u7f8e\u5143\uff0f\u65e5\u5713\u9031\u56db\u4e0b\u8dcc 1.25%\uff0c\u91cd\u65b0\u8dcc\u56de 158.00 \u4e0b\u65b9\uff0c\u6536\u5728\u7d04 157.80\uff1b\u672c\u9031\u7a0d\u65e9\u4e00\u5ea6\u63a5\u8fd1 160.00\u3002\u9019\u6ce2\u4e0b\u8dcc\u62b9\u53bb\u524d\u4e94\u500b\u4ea4\u6613\u65e5\u7684\u5927\u90e8\u5206\u6f32\u5e45\uff1b\u81ea 1 \u6708\u4e0b\u65ec\u4ee5\u4f86\uff0c\u50f9\u683c\u4ecd\u5728 152.00 \u5230 160.00 \u5340\u9593\u5167\u9707\u76ea\u3002\n\n\u65e5\u672c\u592e\u884c\uff08BoJ\uff0c\u65e5\u672c\u7684\u4e2d\u592e\u9280\u884c\uff09\u9031\u56db\u5c07\u653f\u7b56\u5229\u7387\u7dad\u6301\u5728 0.75%\u3002\u7e3d\u88c1\u690d\u7530\u548c\u7537\u8868\u793a\uff0c\u4e2d\u6771\u885d\u7a81\u63a8\u5347\u7684\u539f\u6cb9\u50f9\u683c\u53ef\u80fd\u5e36\u52d5\u300c\u6838\u5fc3\u901a\u81a8\u300d\uff08\u6392\u9664\u77ed\u671f\u6ce2\u52d5\u8f03\u5927\u7684\u9805\u76ee\u5f8c\uff0c\u66f4\u80fd\u53cd\u6620\u9577\u671f\u8da8\u52e2\u7684\u901a\u81a8\uff09\u4e0a\u5347\uff0c\u4e26\u63d0\u5230\u4f01\u696d\u628a\u6210\u672c\u4e0a\u5347\u8f49\u5ac1\u5230\u552e\u50f9\u7684\u901f\u5ea6\u52a0\u5feb\uff0c\u540c\u6642\u85aa\u8cc7\u8207\u7269\u50f9\u4e5f\u5728\u4e0a\u5347\u3002\n\n\u6625\u9b25\uff08shunto\uff0c\u65e5\u672c\u6bcf\u5e74\u6625\u5b63\u7684\u52de\u8cc7\u85aa\u8cc7\u8ac7\u5224\uff09\u521d\u6b65\u7684\u52a0\u85aa\u8981\u6c42\u5e73\u5747\u7d04 5.9%\uff0c\u6700\u5927\u5de5\u6703\u7e3d\u806f\u5408\u6703\u9023\u5408\uff08Rengo\uff09\u7684\u7b2c\u4e00\u8f2a\u7d50\u679c\u5c07\u5728 3 \u6708 23 \u65e5\u516c\u5e03\u3002\u65e5\u672c\u5e02\u5834\u9031\u4e94\u56e0\u6625\u5206\u65e5\u4f11\u5e02\uff0c\u4ea4\u6613\u91cf\uff08\u5e02\u5834\u53ef\u6210\u4ea4\u7684\u91cf\uff09\u53ef\u80fd\u504f\u4f4e\u3002\n\n\u806f\u6e96\u6703\uff08Fed\uff0c\u7f8e\u570b\u4e2d\u592e\u9280\u884c\uff09\u9031\u4e09\u4ee5 11 \u6bd4 1 \u8868\u6c7a\uff0c\u5c07\u5229\u7387\u7dad\u6301\u5728 3.50%\u20133.75%\uff0c\u5176\u4e2d\u7406\u4e8b Miran \u652f\u6301\u964d\u606f\u3002\u5229\u7387\u9810\u6e2c\u4ecd\u986f\u793a\u4eca\u5e74\u53ef\u80fd\u964d\u606f\u4e00\u6b21\uff1b2 \u6708 PPI\uff08\u751f\u7522\u8005\u7269\u50f9\u6307\u6578\uff0c\u53cd\u6620\u4e0a\u6e38\u5ee0\u5546\u51fa\u5ee0\u50f9\u683c\u7684\u8b8a\u5316\uff0c\u5e38\u88ab\u7528\u4f86\u89c0\u5bdf\u901a\u81a8\u58d3\u529b\uff09\u6708\u589e 0.7%\uff0c\u9ad8\u65bc\u9810\u4f30 0.3%\u3002\n\n\u7f8e\u570b\u521d\u9818\u5931\u696d\u6551\u6fdf\u91d1\u4eba\u6578\u964d\u81f3 20.5 \u842c\uff0c\u4f4e\u65bc\u5e02\u5834\u5171\u8b58 21.5 \u842c\uff1b\u65b0\u5c4b\u92b7\u552e\u6708\u6e1b 17.6%\u3002\u65e5\u7dda\u5716\u4e0a\uff0c\u73fe\u50f9\u7d04 157.85\uff1b50 \u65e5 EMA\uff08\u6307\u6578\u79fb\u52d5\u5e73\u5747\u7dda\uff0c\u7528\u8f03\u91cd\u6b0a\u91cd\u8a08\u7b97\u8fd1\u671f\u50f9\u683c\u7684\u5e73\u5747\uff0c\u5e38\u7528\u4f86\u770b\u8da8\u52e2\uff09\u5728\u7d04 156.70\uff0c200 \u65e5 EMA \u5728\u7d04 153.70\uff1b\u58d3\u529b\u5728 158.00 \u8207 159.90\uff0c\u652f\u6490\u5728 156.70\u3001155.90 \u8207 153.70\u3002\n\n\u8fd1\u671f\u7f8e\u5143\uff0f\u65e5\u5713\u6025\u8dcc\u4e26\u8dcc\u7834 158.00\uff0c\u4ee3\u8868\u52d5\u80fd\uff08\u50f9\u683c\u4e0a\u6f32\u6216\u4e0b\u8dcc\u7684\u529b\u9053\uff09\u53ef\u80fd\u8f49\u5411\uff0c\u9700\u8981\u91cd\u8996\u3002\u9019\u6b21\u4e0d\u662f\u56e0\u70ba\u7f8e\u570b\u8b8a\u5f31\uff0c\u800c\u662f\u65e5\u672c\u592e\u884c\u504f\u9df9\u6d3e\uff08hawkish\uff0c\u504f\u5411\u5347\u606f\u6216\u6536\u7dca\u653f\u7b56\u3001\u6291\u5236\u901a\u81a8\uff09\u7684\u8aaa\u6cd5\u5e36\u4f86\u65e5\u5713\u8d70\u5f37\u3002\u6211\u5011\u6b63\u593e\u5728\u614b\u5ea6\u504f\u5f37\u786c\u7684\u65e5\u672c\u592e\u884c\u8207\u8f03\u70ba\u4fdd\u5b88\u7684\u806f\u6e96\u6703\u4e4b\u9593\uff0c\u5f62\u6210\u5bec\u5e45\u4e14\u6ce2\u52d5\u5927\u7684\u5340\u9593\u3002\n\n\u65e5\u672c\u592e\u884c\u5c0d\u901a\u81a8\u7684\u64d4\u6182\u662f\u4e3b\u8981\u63a8\u52d5\u56e0\u7d20\uff0c\u5c24\u5176\u5728\u52a0\u85aa\u8981\u6c42\u63a5\u8fd1 5.9% \u7684\u60c5\u6cc1\u4e0b\u3002\u904e\u53bb\u5728 2024 \u5e74\uff0c\u85aa\u8cc7\u6210\u9577\u9996\u6b21\u5728\u4e09\u5341\u591a\u5e74\u4f86\u8d85\u904e 5%\uff0c\u662f\u65e5\u672c\u592e\u884c\u7d50\u675f\u8ca0\u5229\u7387\uff08negative interest rates\uff0c\u5229\u7387\u4f4e\u5230\u63a5\u8fd1\u6216\u4f4e\u65bc 0%\uff0c\u7528\u4f86\u523a\u6fc0\u7d93\u6fdf\uff09\u7684\u95dc\u9375\u56e0\u7d20\u3002\u9019\u500b\u5148\u4f8b\u8868\u793a\u690d\u7530\u7e3d\u88c1\u7684\u8b66\u544a\u6709\u53ef\u4fe1\u5ea6\uff1b\u82e5 3 \u6708 23 \u65e5\u9023\u5408\u7684\u6700\u7d42\u7d50\u679c\u78ba\u8a8d\u9ad8\u85aa\u8cc7\u6210\u9577\uff0c\u653f\u7b56\u53ef\u80fd\u9032\u4e00\u6b65\u6536\u7dca\uff08tightening\uff0c\u63d0\u9ad8\u5229\u7387\u6216\u6e1b\u5c11\u5bec\u9b06\u63aa\u65bd\uff09\u3002\n\n\u53e6\u4e00\u65b9\u9762\uff0c\u7f8e\u5143\u76ee\u524d\u7f3a\u4e4f\u660e\u78ba\u7684\u4e0a\u6f32\u63a8\u529b\u3002\u96d6\u7136\u8fd1\u671f PPI \u6708\u589e 0.7% \u504f\u9ad8\uff0c\u4f46\u4e4b\u524d\u6838\u5fc3 PCE \u7269\u50f9\u6307\u6578\uff08Core PCE Price Index\uff0c\u6392\u9664\u98df\u54c1\u8207\u80fd\u6e90\u3001\u806f\u6e96\u6703\u504f\u597d\u7684\u901a\u81a8\u6307\u6a19\uff09\u986f\u793a\u5e74\u589e\u8da8\u52e2\u653e\u7de9\u81f3 2.8%\uff0c\u8b93\u806f\u6e96\u6703\u964d\u606f\u4ecd\u6709\u53ef\u80fd\u3002\u9019\u7a2e\u653f\u7b56\u5206\u6b67\u2014\u2014\u65e5\u672c\u592e\u884c\u66f4\u504f\u5f37\u786c\u3001\u806f\u6e96\u6703\u4ecd\u4ee5\u6578\u64da\u70ba\u4f9d\u64da\uff08data-dependent\uff0c\u8996\u901a\u81a8\u8207\u5c31\u696d\u7b49\u6578\u64da\u6c7a\u5b9a\u653f\u7b56\uff09\u2014\u2014\u53ef\u80fd\u9650\u5236\u7f8e\u5143\uff0f\u65e5\u5713\u7684\u5927\u5e45\u53cd\u5f48\u3002\n\n\u5728\u9019\u7a2e\u80cc\u666f\u4e0b\uff0c\u672a\u4f86\u5e7e\u9031\u7f8e\u5143\uff0f\u65e5\u5713\u9078\u64c7\u6b0a\u7684\u300c\u96b1\u542b\u6ce2\u52d5\u7387\u300d\uff08implied volatility\uff0c\u5e02\u5834\u7528\u9078\u64c7\u6b0a\u50f9\u683c\u53cd\u63a8\u7684\u672a\u4f86\u6ce2\u52d5\u9810\u671f\uff09\u53ef\u80fd\u7dad\u6301\u504f\u9ad8\u3002\u50f9\u683c\u5728 160.00 \u9644\u8fd1\u660e\u986f\u53d7\u963b\uff0c\u800c\u8a72\u5340\u57df\u904e\u53bb\u65e5\u672c\u5b98\u65b9\u66fe\u5e72\u9810\uff08intervene\uff0c\u5b98\u65b9\u9032\u5834\u8cb7\u8ce3\u532f\u7387\u4ee5\u5f71\u97ff\u50f9\u683c\uff09\uff0c\u8868\u793a\u4e0a\u65b9\u963b\u529b\u5f37\u3002\u9019\u4f7f\u5f97\u8ce3\u51fa\u50f9\u5916\uff08out-of-the-money\uff0c\u5c65\u7d04\u50f9\u6bd4\u73fe\u50f9\u66f4\u4e0d\u5229\u3001\u9700\u8981\u66f4\u5927\u884c\u60c5\u624d\u6703\u8b8a\u6210\u6709\u5229\uff09\u7684\u8cb7\u6b0a\uff08call option\uff0c\u770b\u6f32\u9078\u64c7\u6b0a\uff09\u6216\u5efa\u7acb\u8cb7\u6b0a\u50f9\u5dee\uff08call spread\uff0c\u7528\u4e00\u8cb7\u4e00\u8ce3\u8cb7\u6b0a\u4f86\u9650\u5236\u98a8\u96aa\u8207\u5831\u916c\uff09\u6210\u70ba\u53ef\u8003\u616e\u7684\u7b56\u7565\uff0c\u4ee5\u6536\u53d6\u6b0a\u5229\u91d1\uff08premium\uff0c\u9078\u64c7\u6b0a\u50f9\u683c\uff09\u4e26\u628a\u98a8\u96aa\u63a7\u5236\u5728\u53ef\u9810\u671f\u7bc4\u570d\u5167\u3002\n<p>\n\n<p><strong>\u7acb\u5373\u958b\u59cb\u4ea4\u6613 &#8211; \u9ede\u64ca<a href=\"https:\/\/www.vtmarketsglobal.com\/trade-now\/\">\u9019\u88e1<\/a>\u5275\u5efa\u60a8\u7684 VT Markets \u771f\u5be6\u8cec\u6236 <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>\u7f8e\u5143\uff0f\u65e5\u5713\u6025\u8dcc\u5931\u5b88158\uff0c\u91cd\u9ede\u4e0d\u662f\u7f8e\u570b\u8f49\u5f31\uff01\u65e5\u9280\u504f\u9df9\u3001\u85aa\u8cc7\u8ac7\u52245.9%\u63a8\u5347\u7dca\u7e2e\u9810\u671f\uff1b\u806f\u6e96\u6703\u4fdd\u5b88\u3002\u5340\u9593152\u2013160\u9707\u76ea\uff0c\u6ce2\u52d5\u7387\u504f\u9ad8\u3002<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-40564","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\/zh-ca\/wp-json\/wp\/v2\/posts\/40564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/comments?post=40564"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts\/40564\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/media?parent=40564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/categories?post=40564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/tags?post=40564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}