{"id":44550,"date":"2026-04-09T21:08:54","date_gmt":"2026-04-09T21:08:54","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/44550\/"},"modified":"2026-04-09T21:08:54","modified_gmt":"2026-04-09T21:08:54","slug":"%e7%be%8e%e5%9c%8b%e7%ac%ac%e5%9b%9b%e5%ad%a3%e5%80%8b%e4%ba%ba%e6%b6%88%e8%b2%bb%e9%96%8b%e6%94%af%ef%bc%88pce%ef%bc%89%e5%83%b9%e6%a0%bc%e6%8c%89%e5%ad%a3%e4%b8%8a%e5%8d%872-9%ef%bc%8c%e7%ac%a6","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh-ca\/live-updates\/44550\/","title":{"rendered":"\u7f8e\u570b\u7b2c\u56db\u5b63\u500b\u4eba\u6d88\u8cbb\u958b\u652f\uff08PCE\uff09\u50f9\u683c\u6309\u5b63\u4e0a\u53472.9%\uff0c\u7b26\u5408\u5e02\u5834\u9810\u671f\uff0c\u7121\u504f\u96e2"},"content":{"rendered":"<p>\u7f8e\u570b\u500b\u4eba\u6d88\u8cbb\u652f\u51fa\uff08PCE\uff0c\u6307\u5bb6\u5ead\u8cfc\u8cb7\u5546\u54c1\u53ca\u670d\u52d9\u7684\u958b\u652f\uff09\u50f9\u683c\u5728\u7b2c\u56db\u5b63\u6309\u5b63\u4e0a\u53472.9%\uff0c\u8207\u5e02\u5834\u9810\u6e2c\u76842.9%\u4e00\u81f4\u3002<\/p>\n<p>\u8a72\u6578\u64da\u53cd\u6620\u5bb6\u5ead\u8cfc\u8cb7\u7684\u5546\u54c1\u53ca\u670d\u52d9\u50f9\u683c\u8b8a\u5316\uff0c\u662f\u7f8e\u570b\u7d93\u6fdf\u5831\u544a\u5e38\u7528\u7684\u901a\u8139\uff08\u5373\u6574\u9ad4\u7269\u50f9\u4e0a\u5347\uff09\u6307\u6a19\u4e4b\u4e00\u3002<\/p>\n<h3>Market Reaction And Volatility<\/h3>\n<p>\u6211\u5011\u770b\u52302025\u5e74\u7b2c\u56db\u5b63PCE\u50f9\u683c\u6578\u64da\u9304\u5f972.9%\uff0c\u7b26\u5408\u9810\u671f\uff0c\u66ab\u672a\u69cb\u6210\u7acb\u5373\u4ee4\u5e02\u5834\u5927\u5e45\u6ce2\u52d5\u7684\u89f8\u767c\u56e0\u7d20\u3002\u7531\u65bc\u5e02\u5834\u65e9\u5df2\u6d88\u5316\u9019\u500b\u7d50\u679c\uff0c\u6211\u5011\u8a8d\u70ba\u96b1\u542b\u6ce2\u5e45\uff08implied volatility\uff0c\u5373\u671f\u6b0a\u50f9\u683c\u53cd\u6620\u5e02\u5834\u5c0d\u672a\u4f86\u6ce2\u52d5\u7684\u9810\u671f\uff09\u77ed\u671f\u6216\u6703\u56de\u843d\u3002\u4ea4\u6613\u54e1\u9700\u7559\u610f\uff0c\u5e02\u5834\u66f4\u591a\u662f\u5728\u5438\u6536\u5df2\u77e5\u8cc7\u8a0a\uff0c\u800c\u975e\u56e0\u610f\u5916\u6578\u64da\u800c\u6025\u5287\u53cd\u61c9\u3002<\/p>\n<p>\u901a\u8139\u4ecd\u660e\u986f\u9ad8\u65bc2%\u76ee\u6a19\uff0c\u5f37\u5316\u806f\u5132\u5c40\uff08Federal Reserve\uff0c\u7f8e\u570b\u4e2d\u592e\u9280\u884c\uff09\u4e0d\u6703\u6025\u65bc\u6e1b\u606f\u7684\u770b\u6cd5\u30022026\u5e743\u6708\u7684\u6700\u65b0\u6578\u64da\u4ea6\u652f\u6301\u6b64\u89c0\u9ede\uff0c\u5c31\u696d\u5e02\u5834\u65b0\u589e21.5\u842c\u500b\u8077\u4f4d\uff0c\u5931\u696d\u7387\u7dad\u6301\u57283.7%\u7684\u4f4e\u4f4d\u3002\u5c0d\u884d\u751f\u5de5\u5177\uff08derivatives\uff0c\u4ee5\u8cc7\u7522\u50f9\u683c\u70ba\u57fa\u790e\u7684\u5408\u7d04\uff0c\u4f8b\u5982\u671f\u6b0a\u3001\u671f\u8ca8\uff09\u4ea4\u6613\u54e1\u800c\u8a00\uff0c\u62bc\u6ce8\u653f\u7b56\u77ed\u671f\u8f49\u5411\u504f\u9d3f\uff08dovish\uff0c\u5373\u50be\u5411\u6e1b\u606f\u53ca\u653e\u5bec\u653f\u7b56\uff09\u53ef\u80fd\u4ecd\u8a00\u4e4b\u904e\u65e9\u3002<\/p>\n<p>\u5728\u6b64\u80cc\u666f\u4e0b\uff0c\u70ba\u300c\u9ad8\u606f\u7dad\u6301\u66f4\u4e45\u300d\uff08higher for longer\uff0c\u5373\u5229\u7387\u5728\u8f03\u9ad8\u6c34\u5e73\u7dad\u6301\u8f03\u9577\u6642\u9593\uff09\u7684\u74b0\u5883\u4f5c\u90e8\u7f72\u4ecd\u5c6c\u8f03\u5be9\u614e\u7b56\u7565\u3002\u5229\u7387\u671f\u8ca8\u671f\u6b0a\uff08options on interest rate futures\uff0c\u5373\u4ee5\u5229\u7387\u671f\u8ca8\u70ba\u6a19\u7684\u7684\u671f\u6b0a\uff09\uff0c\u4f8b\u5982SOFR\uff08\u6709\u64d4\u4fdd\u9694\u591c\u878d\u8cc7\u5229\u7387\uff0cSecured Overnight Financing Rate\uff09\u5408\u7d04\uff0c\u53ef\u7528\u4f5c\u5c0d\u6c96\uff08hedge\uff0c\u5373\u964d\u4f4e\u5229\u7387\u98a8\u96aa\uff09\u6216\u62bc\u6ce8\u5229\u7387\u57282026\u5e74\u7b2c\u4e8c\u5b63\u524d\u4ecd\u7dad\u6301\u9ad8\u4f4d\u3002\u9019\u4ea6\u610f\u5473\u5c0d\u5229\u7387\u654f\u611f\u677f\u584a\u9700\u66f4\u5be9\u614e\uff0c\u4f8b\u5982\u53ef\u8003\u616e\u5728\u76f8\u95dcETF\uff08\u4ea4\u6613\u6240\u8cb7\u8ce3\u57fa\u91d1\uff09\u4e0a\u8cb7\u5165\u4fdd\u8b77\u6027\u8a8d\u6cbd\u671f\u6b0a\uff08protective puts\uff0c\u5373\u8cb7\u5165\u8ce3\u51fa\u6b0a\u4ee5\u9650\u5236\u4e0b\u8dcc\u98a8\u96aa\uff09\u3002<\/p>\n<h3>Positioning And Strategy<\/h3>\n<p>\u56de\u9867\u904e\u53bb\uff0c2024\u5e74\u5927\u90e8\u5206\u6642\u9593\u4ea6\u66fe\u51fa\u73fe\u76f8\u4f3c\u60c5\u6cc1\uff1a\u901a\u8139\u56de\u843d\u7de9\u6162\uff0c\u8feb\u4f7f\u5e02\u5834\u4e0d\u65b7\u5ef6\u5f8c\u6e1b\u606f\u9810\u671f\u3002\u7576\u6642\uff0c\u4e00\u4e9b\u53d7\u60e0\u65bc\u6ce2\u52d5\u4fdd\u6301\u5e73\u7a69\u6216\u7de9\u6162\u56de\u843d\u7684\u4ea4\u6613\u8f03\u70ba\u6709\u6548\uff0c\u4f8b\u5982\u5728\u6307\u6578\u4e0a\u8ce3\u51fa\u50f9\u5916\u671f\u6b0a\u50f9\u5dee\uff08selling out-of-the-money option spreads\uff1a\u8ce3\u51fa\u884c\u4f7f\u50f9\u9060\u96e2\u73fe\u50f9\u7684\u671f\u6b0a\uff0c\u4e26\u7528\u53e6\u4e00\u5f35\u671f\u6b0a\u4f5c\u98a8\u96aa\u9650\u5236\u7684\u7d44\u5408\uff09\uff0c\u4ee5\u6536\u53d6\u671f\u6b0a\u91d1\uff08premium\uff0c\u5373\u671f\u6b0a\u50f9\u683c\uff09\u7372\u5229\u3002\u73fe\u6642\u6578\u64da\u8f03\u53ef\u9810\u671f\uff0c\u610f\u5473\u672a\u4f86\u6578\u5468\u300c\u8ce3\u51fa\u671f\u6b0a\u91d1\u300d\uff08selling premium\uff0c\u5373\u900f\u904e\u8ce3\u51fa\u671f\u6b0a\u6536\u53d6\u6b0a\u5229\u91d1\uff09\u6216\u4ecd\u5177\u53ef\u884c\u6027\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u7f8e\u570b\u7b2c\u56db\u5b63PCE\u901a\u8139\u6309\u5b63\u53472.9%\u7b26\u9810\u671f\uff0c\u672a\u898b\u610f\u5916\u504f\u96e2\uff1b\u5e02\u5834\u7e7c\u7e8c\u805a\u7126\u806f\u5132\u5c40\u6e1b\u606f\u6b65\u4f10\uff0c\u7f8e\u5143\u3001\u7f8e\u50b5\u606f\u8d70\u52e2\u6216\u8fce\u65b0\u555f\u793a\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-44550","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\/44550","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=44550"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts\/44550\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/media?parent=44550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/categories?post=44550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/tags?post=44550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}