{"id":47270,"date":"2026-05-13T17:23:11","date_gmt":"2026-05-13T17:23:11","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/47270\/"},"modified":"2026-05-13T17:23:11","modified_gmt":"2026-05-13T17:23:11","slug":"%e7%be%8e%e5%9c%8b4%e6%9c%88%e6%a0%b8%e5%bf%83ppi%e9%a3%86%e5%8d%87%e8%87%b35-2%ef%bc%8c%e4%bf%83%e4%bd%bf%e5%b8%82%e5%a0%b4%e4%b8%8a%e8%aa%bf%e5%b0%8d%e8%81%af%e5%84%b2%e5%b1%80%e5%8a%a0%e6%81%af","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh-ca\/live-updates\/47270\/","title":{"rendered":"\u7f8e\u570b4\u6708\u6838\u5fc3PPI\u98c6\u5347\u81f35.2%\uff0c\u4fc3\u4f7f\u5e02\u5834\u4e0a\u8abf\u5c0d\u806f\u5132\u5c40\u52a0\u606f\u7684\u9810\u671f"},"content":{"rendered":"

\u7f8e\u570b4\u6708\u5254\u9664\u98df\u54c1\u53ca\u80fd\u6e90\u7684\u751f\u7522\u8005\u7269\u50f9\u6307\u6578\uff08PPI\uff0c\u53cd\u6620\u4f01\u696d\u5728\u300c\u51fa\u5ee0\/\u6279\u767c\u5c64\u9762\u300d\u7684\u552e\u50f9\u8b8a\u52d5\uff1b\u300c\u6838\u5fc3\u300d\u6307\u6263\u9664\u6ce2\u52d5\u8f03\u5927\u7684\u98df\u54c1\u8207\u80fd\u6e90\uff09\u6309\u5e74\u4e0a\u53475.2%\u3002<\/p>\n

\u6578\u64da\u9ad8\u65bc\u5e02\u5834\u9810\u6e2c\u76844.3%\u3002<\/p>\n

Implications For Fed Policy<\/h3>\n

4\u6708\u6838\u5fc3PPI\u6309\u5e74\u53475.2%\uff0c\u9060\u9ad8\u65bc\u5e02\u5834\u9810\u671f\uff0c\u986f\u793a\u300c\u57fa\u672c\u901a\u8139\u58d3\u529b\u300d\u672a\u6709\u964d\u6eab\uff0c\u4ee4\u806f\u5132\u5c40\uff08Federal Reserve\uff0c\u7f8e\u570b\u4e2d\u592e\u9280\u884c\uff09\u5728\u5229\u7387\u6c7a\u7b56\u4e0a\u66f4\u96e3\u53d6\u6368\uff0c\u5e02\u5834\u7126\u9ede\u8f49\u5411\u4e0b\u4e00\u6b65\u6703\u5426\u8abf\u6574\u5229\u7387\u3002<\/p>\n

\u9810\u8a08\u806f\u5132\u5c40\u53d6\u614b\u5c07\u66f4\u504f\u300c\u9df9\u6d3e\u300d\uff08\u5373\u66f4\u50be\u5411\u6536\u7dca\u653f\u7b56\uff0c\u4f8b\u5982\u52a0\u606f\u6216\u628a\u5229\u7387\u7dad\u6301\u5728\u8f03\u9ad8\u6c34\u5e73\u66f4\u9577\u6642\u9593\uff09\u3002\u5728\u5229\u7387\u4ea4\u6613\u4e0a\uff0c\u5e02\u5834\u6216\u6703\u66f4\u50be\u5411\u90e8\u7f72\u300c\u5229\u7387\u5411\u4e0a\u300d\u7684\u60c5\u666f\uff0c\u4f8b\u5982\u7814\u7a76\u505a\u6de1SOFR\u671f\u8ca8\uff08Secured Overnight Financing Rate Futures\uff0c\u4ee5\u7f8e\u570b\u9694\u591c\u6709\u62b5\u62bc\u878d\u8cc7\u5229\u7387\u4f5c\u53c3\u8003\u7684\u5229\u7387\u671f\u8ca8\uff1b\u505a\u6de1\u671f\u8ca8\u4e00\u822c\u4ee3\u8868\u62bc\u6ce8\u672a\u4f86\u5229\u7387\u4e0a\u5347\u3001\u671f\u8ca8\u50f9\u683c\u4e0b\u8dcc\uff09\u3002\u540c\u6642\uff0c\u8f03\u53d7\u60e0\u65bc\u300c\u5b73\u606f\u7387\u300d\uff08\u50b5\u5238\u6536\u76ca\u7387\uff09\u4e0a\u5347\u7684\u671f\u6b0a\u7b56\u7565\u4ea6\u53ef\u80fd\u66f4\u53d7\u9752\u775e\u3002<\/p>\n

\u5c0d\u80a1\u5e02\u800c\u8a00\uff0c\u9019\u5c6c\u4e0d\u5229\u56e0\u7d20\uff0c\u56e0\u70ba\u8f03\u9ad8\u7684\u5229\u7387\u6703\u62c9\u4f4e\u516c\u53f8\u4f30\u503c\uff0c\u7279\u5225\u662f\u300c\u589e\u9577\u80a1\u300d\u53ca\u79d1\u6280\u80a1\u3002\u53ef\u8003\u616e\u5728\u4e3b\u8981\u6307\u6578\uff08\u5982\u6a19\u666e500\uff09\u8cb7\u5165\u8a8d\u6cbd\u671f\u6b0a\uff08Put Options\uff0c\u7528\u4f5c\u5c0d\u6c96\u6216\u5728\u4e0b\u8dcc\u4e2d\u7372\u5229\uff09\u3002\u82e5\u9810\u671f\u4e0a\u5347\u7a7a\u9593\u6709\u9650\uff0c\u4ea6\u53ef\u8003\u616e\u8ce3\u51fa\u8a8d\u8cfc\u50f9\u5dee\uff08Call Spreads\uff0c\u8ce3\u51fa\u8f03\u4f4e\u884c\u4f7f\u50f9\u8a8d\u8cfc\u4e26\u8cb7\u5165\u8f03\u9ad8\u884c\u4f7f\u50f9\u8a8d\u8cfc\uff0c\u4ee5\u63db\u53d6\u6b0a\u5229\u91d1\u3001\u540c\u6642\u9650\u5b9a\u6700\u5927\u98a8\u96aa\u8207\u6700\u5927\u56de\u5831\uff09\u3002<\/p>\n

\u9019\u985e\u901a\u8139\u300c\u5411\u4e0a\u610f\u5916\u300d\u901a\u5e38\u6703\u63a8\u9ad8\u5e02\u5834\u4e0d\u78ba\u5b9a\u6027\u3002\u9810\u671fCBOE\u6ce2\u52d5\u7387\u6307\u6578VIX\uff08\u53cd\u6620\u5e02\u5834\u5c0d\u672a\u4f8630\u65e5\u6a19\u666e500\u6ce2\u52d5\u9810\u671f\u7684\u6307\u6a19\uff0c\u5e38\u88ab\u8996\u70ba\u300c\u6050\u614c\u6307\u6578\u300d\uff09\u6216\u7531\u8fd1\u65e5\u7d0414\u7684\u6c34\u5e73\u4e0a\u5347\u3002\u8cb7\u5165VIX\u8a8d\u8cfc\u671f\u6b0a\u6216VIX\u671f\u8ca8\uff0c\u53ef\u4f5c\u70ba\u76f4\u63a5\u90e8\u7f72\u6ce2\u52d5\u4e0a\u5347\u7684\u65b9\u6cd5\u3002<\/p>\n

What Markets May Price Next<\/h3>\n

\u9019\u4efd\u6578\u64da\u5f37\u5316\u4e86\u4e0a\u5468\u806f\u5132\u5c40\u5b98\u54e1\u504f\u9df9\u7684\u8a00\u8ad6\uff0c\u5373\u6297\u901a\u8139\u5de5\u4f5c\u4ecd\u672a\u5b8c\u6210\u3002\u4eca\u65e9\u6578\u64da\u516c\u5e03\u5f8c\uff0cCME FedWatch\u5de5\u5177\uff08\u4ee5\u5229\u7387\u671f\u8ca8\u63a8\u7b97\u5e02\u5834\u5c0d\u8b70\u606f\u7d50\u679c\u6a5f\u7387\u7684\u6307\u6a19\uff09\u986f\u793a\uff0c\u5e02\u5834\u5c0d6\u6708\u6703\u8b70\u52a0\u606f25\u500b\u57fa\u9ede\uff080.25\u5398\uff09\u7684\u6a5f\u7387\u5df2\u5347\u81f370%\uff0c\u8f03\u6628\u65e5\u768425%\u5927\u5e45\u4e0a\u8abf\uff0c\u53cd\u6620\u5e02\u5834\u6b63\u5728\u8fc5\u901f\u91cd\u65b0\u5b9a\u50f9\u3002<\/p>\n

\u63a5\u4e0b\u4f86\u7126\u9ede\u5c07\u8f49\u5411\u5373\u5c07\u516c\u5e03\u7684\u6d88\u8cbb\u8005\u7269\u50f9\u6307\u6578\uff08CPI\uff0c\u53cd\u6620\u6d88\u8cbb\u7aef\u50f9\u683c\u8b8a\u52d5\uff1b\u8207PPI\u7684\u300c\u751f\u7522\u7aef\u300d\u76f8\u5c0d\uff09\uff0c\u4ee5\u5224\u65b7\u751f\u7522\u7aef\u6210\u672c\u58d3\u529b\u6703\u5426\u8f49\u5ac1\u81f3\u6d88\u8cbb\u8005\u3002\u82e5CPI\u540c\u6a23\u504f\u71b1\uff0c\u806f\u5132\u5c40\u66f4\u6709\u53ef\u80fd\u63a1\u53d6\u66f4\u9032\u53d6\u7684\u6536\u7dca\u8def\u5f91\uff0c\u5e02\u5834\u9700\u8981\u56e0\u61c9\u65b0\u6578\u64da\u5feb\u901f\u8abf\u6574\u90e8\u7f72\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u7f8e\u570b4\u6708\u6838\u5fc3PPI\u6025\u98c6\u81f35.2%\uff0c\u901a\u8139\u706b\u52e2\u672a\u606f\uff01\u5e02\u5834\u5373\u6642\u4e0a\u8abf\u806f\u5132\u5c40\u52a0\u606f\u9810\u671f\uff0c\u50b5\u606f\u62bd\u5347\u3001\u7f8e\u5143\u8f49\u5f37\uff0c\u80a1\u5e02\u6216\u518d\u53d7\u58d3\uff0c\u6ce2\u52d5\u52a0\u5287\uff0c\u6295\u8cc7\u8005\u6025\u5c0b\u907f\u96aa\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-47270","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\/47270","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=47270"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts\/47270\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/media?parent=47270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/categories?post=47270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/tags?post=47270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}