{"id":40949,"date":"2026-03-25T10:59:25","date_gmt":"2026-03-25T10:59:25","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/40949\/"},"modified":"2026-03-25T10:59:25","modified_gmt":"2026-03-25T10:59:25","slug":"td%e8%ad%89%e5%88%b8%e9%a0%90%e6%9c%9f%e5%9c%a8%e9%a2%a8%e9%9a%aa%e6%ba%a2%e5%83%b9%e7%b6%ad%e6%8c%81%e9%ab%98%e4%bc%81%e7%9a%84%e6%83%85%e6%b3%81%e4%b8%8b%ef%bc%8c%e7%be%8e%e5%85%83%e5%b0%87%e8%b5%b0","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh-ca\/live-updates\/40949\/","title":{"rendered":"TD\u8b49\u5238\u9810\u671f\u5728\u98a8\u96aa\u6ea2\u50f9\u7dad\u6301\u9ad8\u4f01\u7684\u60c5\u6cc1\u4e0b\uff0c\u7f8e\u5143\u5c07\u8d70\u5f37\uff0c\u5118\u7ba1\u5176\u5c0d2026\u5e74\u7684\u5c55\u671b\u504f\u7a7a"},"content":{"rendered":"TD \u8b49\u5238\u8868\u793a\uff0c\u53ea\u8981\u5168\u7403\u98a8\u96aa\u6ea2\u916c\uff08\u6295\u8cc7\u4eba\u8981\u6c42\u7684\u300c\u984d\u5916\u88dc\u511f\u300d\uff0c\u7528\u4f86\u627f\u64d4\u4e0d\u78ba\u5b9a\u6027\u8207\u53ef\u80fd\u8667\u640d\uff09\u7dad\u6301\u5728\u9ad8\u4f4d\uff0c\u7f8e\u5143\u53ef\u80fd\u7e7c\u7e8c\u4e0a\u6f32\u3002\u8a72\u884c\u5c0d 2026 \u5e74\u4ecd\u504f\u5411\u770b\u7a7a\u7f8e\u5143\uff0c\u4f46\u8a8d\u70ba\u77ed\u671f\u5167\u7f8e\u5143\u53ef\u53d7\u907f\u96aa\u9700\u6c42\uff08\u5e02\u5834\u6015\u98a8\u96aa\u6642\u8cc7\u91d1\u6d41\u5411\u8f03\u5b89\u5168\u8cc7\u7522\uff0c\u5982\u7f8e\u5143\u8207\u7f8e\u570b\u516c\u50b5\uff09\u652f\u6490\u3002\n\n\u8a72\u884c\u8868\u793a\uff0c\u82e5\u672a\u4f86\u5e7e\u9031\u6230\u4e8b\u51fa\u73fe\u300c\u4e0b\u53f0\u968e\u300d\u7684\u51fa\u53e3\uff08off-ramp\uff0c\u6307\u60c5\u52e2\u964d\u6eab\u3001\u8d70\u5411\u505c\u706b\u6216\u8ac7\u5224\u7684\u8def\u5f91\uff09\uff0c\u907f\u96aa\u6ea2\u50f9\uff08\u56e0\u907f\u96aa\u9700\u6c42\u800c\u984d\u5916\u63a8\u9ad8\u7684\u50f9\u683c\uff09\u53ef\u80fd\u4e0b\u964d\uff0c\u7f8e\u5143\u4e5f\u53ef\u80fd\u8f49\u5f31\u3002\u5b83\u4e5f\u6307\u51fa\uff0c\u7f8e\u570b\u6210\u9577\u7684\u300c\u4e00\u679d\u7368\u79c0\u300d\u6b63\u5728\u6e1b\u5f31\uff0c\u4ee5\u53ca\u300c\u5c0d\u6c96\u7f8e\u570b\u300d\u4ea4\u6613\uff08Hedge America\uff0c\u6307\u6295\u8cc7\u4eba\u7528\u5404\u7a2e\u65b9\u5f0f\u964d\u4f4e\u5c0d\u7f8e\u570b\u8cc7\u7522\u8207\u7f8e\u5143\u7684\u66dd\u96aa\uff09\u53ef\u80fd\u5347\u6eab\uff0c\u90fd\u662f\u7f8e\u5143\u7684\u963b\u529b\u3002\n\n\u5b83\u8868\u793a\uff0c\u4e00\u65e6\u5e02\u5834\u7684\u7126\u9ede\u8f49\u70ba\u64d4\u6182\u6210\u9577\uff0c\u5916\u532f\u6ce2\u52d5\uff08\u532f\u7387\u4e0a\u4e0b\u9707\u76ea\u52a0\u5287\uff09\u53ef\u80fd\u4e0a\u5347\u3002\u5b83\u88dc\u5145\uff0c\u592e\u884c\u504f\u9df9\u6d3e\uff08hawkishness\uff0c\u6307\u50be\u5411\u5347\u606f\u6216\u7dad\u6301\u9ad8\u5229\u7387\u4ee5\u58d3\u901a\u81a8\uff09\u7684\u7acb\u5834\u6216\u8a31\u80fd\u77ed\u66ab\u652f\u6490\u7f8e\u5143\uff0c\u4f46\u82e5\u80a1\u7968\u3001\u6295\u8cc7\u90e8\u4f4d\u8207\u5229\u7387\u51fa\u73fe\u66f4\u5ee3\u6cdb\u7684\u907f\u96aa\u8d70\u52e2\uff08risk-off\uff0c\u8cc7\u91d1\u64a4\u96e2\u98a8\u96aa\u8cc7\u7522\uff09\uff0c\u7f8e\u5143\u4ecd\u53ef\u80fd\u88ab\u8ffd\u8cb7\uff08bid\uff0c\u6307\u9700\u6c42\u5f37\u3001\u50f9\u683c\u88ab\u63a8\u9ad8\uff09\u3002\n\n\u5b83\u628a\u98a8\u96aa\u8da8\u907f\u7684\u63a8\u52d5\u56e0\u7d20\u63cf\u8ff0\u70ba\uff1a\u90e8\u4f4d\u56de\u88dc\uff0f\u89e3\u9664\uff08positioning unwinds\uff0c\u6307\u539f\u672c\u62bc\u6ce8\u67d0\u65b9\u5411\u7684\u4ea4\u6613\u88ab\u8feb\u5e73\u5009\uff09\u3001\u80a1\u5e02\u56de\u843d\uff08equity drawdowns\uff0c\u6307\u80a1\u7968\u4e0b\u8dcc\u9020\u6210\u7684\u8dcc\u5e45\uff09\u3001\u4ee5\u53ca\u8cbf\u6613\u689d\u4ef6\u885d\u64ca\uff08terms-of-trade shocks\uff0c\u6307\u51fa\u53e3\u50f9\u683c\u76f8\u5c0d\u9032\u53e3\u50f9\u683c\u8b8a\u52d5\uff0c\u5f71\u97ff\u4e00\u570b\u6536\u5165\u8207\u532f\u7387\uff09\u3002\u9019\u4e9b\u56e0\u7d20\u53ef\u80fd\u63a8\u5347\u7f8e\u5143\uff0c\u4e26\u58d3\u6291\u9ad8 beta \u7684 G10 \u8207\u65b0\u8208\u5e02\u5834\u8ca8\u5e63\uff08\u9ad8 beta\uff0c\u6307\u5c0d\u98a8\u96aa\u60c5\u7dd2\u66f4\u654f\u611f\u3001\u884c\u60c5\u66f4\u5bb9\u6613\u5927\u8d77\u5927\u843d\uff1bG10 \u6307\u4e3b\u8981\u5df2\u958b\u767c\u570b\u5bb6\u8ca8\u5e63\uff09\u3002\u5b83\u4e5f\u8868\u793a\uff0c\u5728\u5176 HFFV \u6a21\u578b\uff08\u7528\u4f86\u4f30\u8a08\u532f\u7387\u300c\u5408\u7406\u50f9\u503c\u300d\u7684\u91cf\u5316\u4f30\u503c\u6a21\u578b\uff09\u4e2d\uff0c\u7f8e\u5143\u76f8\u5c0d\u591a\u6578\u8ca8\u5e63\u504f\u8cb4\uff0c\u4e14\u7f8e\u5143\u4e26\u672a\u96a8\u8457\u8fd1\u671f\u76f8\u5c0d\u5229\u7387\u5b9a\u50f9\uff08\u5e02\u5834\u5c0d\u5404\u570b\u5229\u7387\u8def\u5f91\u7684\u9810\u671f\uff09\u800c\u8d70\u5f31\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>\u6230\u4e8b\u8207\u98a8\u96aa\u6ea2\u916c\u727d\u52d5\u7f8e\u5143\u547d\u904b\uff1a\u9ad8\u4f4d\u652f\u6490\u77ed\u7dda\u7e8c\u5f37\uff1b\u82e5\u964d\u6eab\u907f\u96aa\u9000\u6f6e\u6050\u8f49\u5f31\u3002\u7f8e\u570b\u512a\u52e2\u6e1b\u3001\u5c0d\u6c96\u7f8e\u570b\u5347\u6eab\uff1b\u98a8\u96aa\u8da8\u907f\u6216\u518d\u63a8\u9ad8\u7f8e\u5143\u3002\u4f30\u503c\u986f\u793a\u504f\u8cb4\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-40949","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\/40949","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=40949"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts\/40949\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/media?parent=40949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/categories?post=40949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/tags?post=40949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}