{"id":51457,"date":"2026-07-06T10:01:59","date_gmt":"2026-07-06T10:01:59","guid":{"rendered":"https:\/\/www.vtmarkets.com\/zh-ca\/uncategorized\/51457\/"},"modified":"2026-07-06T10:01:59","modified_gmt":"2026-07-06T10:01:59","slug":"%e7%be%8e%e5%9c%8b10%e5%b9%b4%e6%9c%9f%e5%9c%8b%e5%82%b5%e5%ad%b3%e6%81%af%e7%8e%87%e5%9c%a8%e8%81%af%e5%84%b2%e5%b1%80%e6%9c%83%e8%ad%b0%e7%b4%80%e9%8c%84%e5%85%ac%e5%b8%83%e5%89%8d%e5%be%ae%e8%b7%8c","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh-ca\/analysis\/51457\/","title":{"rendered":"\u7f8e\u570b10\u5e74\u671f\u570b\u50b5\u5b73\u606f\u7387\u5728\u806f\u5132\u5c40\u6703\u8b70\u7d00\u9304\u516c\u5e03\u524d\u5fae\u8dcc"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2026\/07\/10Y-US-Treasury-2-r-1-1024x558.webp\" alt=\"\" class=\"wp-image-61115\"\/><\/figure>\n\n\n\n<p><strong>\u91cd\u9ede<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u7f8e\u570b10\u5e74\u671f\u570b\u50b5\u5b73\u606f\u7387\uff08\u5e02\u5834\u5e38\u7528\u4f5c\u9577\u671f\u5229\u7387\u6307\u6a19\uff09\u5468\u4e00\u56de\u843d\u81f3\u7d044.47%\uff0c\u8f03\u4e0a\u5468\u4e00\u5ea6\u903c\u8fd14.50%\u6709\u6240\u964d\u6eab\u3002<\/li>\n\n\n\n<li>\u7f8e\u570b6\u6708\u975e\u8fb2\u5c31\u696d\u4eba\u6578\uff08\u4e0d\u5305\u62ec\u8fb2\u696d\u7684\u65b0\u589e\u8077\u4f4d\u6578\uff0c\u53cd\u6620\u5c31\u696d\u589e\u9577\uff09\u589e\u52a05.7\u842c\uff0c\u4f4e\u65bc\u5e02\u5834\u9810\u671f\u768411\u842c\u3002<\/li>\n\n\n\n<li>4\u6708\u53ca5\u6708\u5c31\u696d\u6578\u64da\u5408\u5171\u4e0b\u4fee7.4\u842c\uff0c\u986f\u793a\u65e9\u524d\u589e\u9577\u88ab\u9ad8\u4f30\u3002<\/li>\n\n\n\n<li>\u5c31\u696d\u6578\u64da\u8f49\u5f31\uff0c\u4ee4\u5e02\u5834\u5c0d\u806f\u5132\u5c40\u77ed\u671f\u5167\u518d\u52a0\u606f\uff08\u4e0a\u8abf\u653f\u7b56\u5229\u7387\uff09\u9810\u671f\u964d\u6eab\u3002<\/li>\n\n\n\n<li>\u6cb9\u50f9\u56de\u843d\uff0c\u7d13\u7de9\u901a\u8139\uff08\u7269\u50f9\u4e0a\u5347\uff09\u6182\u616e\uff0c\u4e4b\u524d\u63a8\u9ad8\u570b\u50b5\u5b73\u606f\u7387\u7684\u56e0\u7d20\u7a0d\u70ba\u6e1b\u5f31\u3002<\/li>\n\n\n\n<li>\u6280\u8853\u8d70\u52e2\u4e0a\uff0cUS10Y\uff08\u65e5\u7dda\u5716\uff09\u5373\u5e02\u652f\u6301\u4f4d\u8fd14.44%\uff1b4.48%\u81f34.50%\u70ba\u9996\u500b\u963b\u529b\u5340\u3002<\/li>\n<\/ul>\n\n\n\n<p>\u5468\u4e00\u7f8e\u570b10\u5e74\u671f\u570b\u50b5\u5b73\u606f\u7387\u4e0b\u8dcc\uff0c\u4ea4\u6613\u54e1\u7e7c\u7e8c\u6d88\u5316\u504f\u5f31\u7684\u5c31\u696d\u6578\u64da\uff0c\u540c\u6642\u6e96\u5099\u8fce\u63a5\u806f\u5132\u5c406\u6708\u8b70\u606f\u6703\u8b70\u7d00\u8981\uff08Minutes\uff1a\u6703\u8b70\u8a18\u9304\uff0c\u63d0\u4f9b\u6bd4\u653f\u7b56\u8072\u660e\u66f4\u8a73\u7d30\u7684\u8a0e\u8ad6\u5167\u5bb9\uff09\u516c\u5e03\u3002<\/p>\n\n\n\n<p>US10Y\u56de\u843d\u81f3\u7d044.47%\uff0c\u56de\u5410\u90e8\u5206\u8fd1\u671f\u5347\u5e45\u3002\u7531\u65bc\u570b\u50b5\u50f9\u683c\u8207\u5b73\u606f\u7387\u4e00\u822c\u5448\u53cd\u5411\u95dc\u4fc2\uff08\u50f9\u683c\u5347\u3001\u5b73\u606f\u7387\u8dcc\uff1b\u50f9\u683c\u8dcc\u3001\u5b73\u606f\u7387\u5347\uff09\uff0c\u5b73\u606f\u7387\u4e0b\u8dcc\u53cd\u6620\u6295\u8cc7\u8005\u5c0d10\u5e74\u671f\u570b\u50b5\uff08\u6280\u8853\u4e0a\u5c6c\u300c\u570b\u5eab\u7968\u64da\u300dTreasury note\uff09\u9700\u6c42\u589e\u52a0\u3002<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Treasuries rallied after a weaker-than-expected jobs report prompted traders to scale back expectations that the Federal Reserve will raise interest rates in the coming months <a href=\"https:\/\/t.co\/Citg9ZByB8\">https:\/\/t.co\/Citg9ZByB8<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/x.com\/business\/status\/2072664122957693197?ref_src=twsrc%5Etfw\">July 2, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>\u4eca\u6b21\u8d70\u52e2\u5ef6\u7e8c\u5e02\u5834\u5c0d6\u6708\u5c31\u696d\u5831\u544a\u7684\u53cd\u61c9\u3002\u7f8e\u570b\u975e\u8fb2\u65b0\u589e\u8077\u4f4d\u50c5\u589e5.7\u842c\uff0c\u4f4e\u65bc\u9810\u671f\u768411\u842c\uff1b4\u6708\u53ca5\u6708\u6578\u64da\u4ea6\u5408\u5171\u4e0b\u4fee7.4\u842c\u3002<\/p>\n\n\n\n<p>\u5931\u696d\u7387\uff08\u5931\u696d\u4eba\u53e3\u4f54\u52de\u52d5\u4eba\u53e3\u6bd4\u4f8b\uff09\u5fae\u8dcc\u81f34.2%\uff0c\u4f46\u52de\u52d5\u53c3\u8207\u7387\uff08\u53c3\u8207\u5de5\u4f5c\u6216\u6c42\u8077\u7684\u4eba\u53e3\u4f54\u6bd4\uff09\u8dcc\u81f361.5%\u3002\u9019\u610f\u5473\u5931\u696d\u7387\u4e0b\u8dcc\u90e8\u5206\u539f\u56e0\u662f\u53c3\u8207\u52de\u52d5\u5e02\u5834\u7684\u4eba\u8b8a\u5c11\uff0c\u800c\u975e\u4f01\u696d\u62db\u8058\u660e\u986f\u8f49\u5f37\u3002<\/p>\n\n\n\n<p>\u6578\u64da\u504f\u5f31\uff0c\u4ee4\u806f\u5132\u5c40\u5728\u8003\u616e\u9032\u4e00\u6b65\u6536\u7dca\u653f\u7b56\uff08Tightening\uff1a\u900f\u904e\u52a0\u606f\u6216\u6536\u7dca\u91d1\u878d\u689d\u4ef6\u964d\u6eab\u9700\u6c42\uff09\u524d\uff0c\u6709\u66f4\u591a\u6642\u9593\u89c0\u5bdf\u901a\u8139\u8d70\u52e2\u3002<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">The US economy added just 57,000 jobs in June, far fewer than forecast. Joachim Klement of Panmure Liberum tells Reuters that gives the Fed time to see how inflation plays out, and he doesn&#39;t believe there will be a rate hike this year at all <a href=\"https:\/\/t.co\/noQtCGGYhi\">https:\/\/t.co\/noQtCGGYhi<\/a> <a href=\"https:\/\/t.co\/dG3Zul70LZ\">pic.twitter.com\/dG3Zul70LZ<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/x.com\/Reuters\/status\/2073034020498424286?ref_src=twsrc%5Etfw\">July 3, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>\u300c\u806f\u5132\u5c40\u6216\u53ef\u907f\u514d\u4eca\u5e74\u518d\u52a0\u606f\u300d\u5c6c\u5206\u6790\u770b\u6cd5\uff0c\u4e26\u975e\u5df2\u78ba\u8a8d\u7684\u653f\u7b56\u7d50\u679c\u3002\u4e0d\u904e\uff0c\u52de\u5de5\u6578\u64da\u8f49\u5f31\uff0c\u4fc3\u4f7f\u5e02\u5834\u4e0b\u8abf\u77ed\u671f\u6536\u7dca\u9810\u671f\uff0c\u652f\u6301\u570b\u50b5\u50f9\u683c\uff0c\u4e26\u4ee4\u5b73\u606f\u7387\u53d7\u58d3\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u5e02\u5834\u70ba\u4f55\u95dc\u6ce8<\/h2>\n\n\n\n<p>\u7f8e\u570b10\u5e74\u671f\u570b\u50b5\u5b73\u606f\u7387\u662f\u5e02\u5834\u95dc\u6ce8\u7684\u9577\u671f\u5229\u7387\u6307\u6a19\uff0c\u53cd\u6620\u5e02\u5834\u5c0d\u7d93\u6fdf\u589e\u9577\u3001\u901a\u8139\u53ca\u806f\u5132\u5c40\u653f\u7b56\u65b9\u5411\u7684\u4e2d\u9577\u671f\u9810\u671f\u3002<\/p>\n\n\n\n<p>\u76ee\u524d\u8d70\u52e2\u7684\u7126\u9ede\u5728\u65bc\uff1a\u5c31\u696d\u589e\u9577\u653e\u6162\uff0c\u8207\u901a\u8139\u4ecd\u6709\u58d3\u529b\u4e4b\u9593\u7684\u62c9\u92f8\u3002<\/p>\n\n\n\n<p>\u62db\u8058\u964d\u6eab\u6216\u964d\u4f4e\u77ed\u671f\u518d\u52a0\u606f\u9700\u8981\uff0c\u4f46\u806f\u5132\u5c40\u5728\u901a\u8139\u7acb\u5834\u4ecd\u504f\u5f37\u786c\uff0c\u672a\u6392\u9664\u9032\u4e00\u6b65\u653f\u7b56\u884c\u52d5\u3002<\/p>\n\n\n\n<p>\u806f\u5132\u5c40\u65bc6\u670816\u65e5\u81f317\u65e5\u6703\u8b70\u7dad\u6301\u806f\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6a19\u5340\u9593\uff08Federal funds target range\uff1a\u7f8e\u570b\u653f\u7b56\u5229\u7387\u5340\u9593\uff09\u5728<a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20260617a.htm\">3.50%\u81f33.75%<\/a>\u3002<\/p>\n\n\n\n<p>\u5373\u5c07\u516c\u5e03\u7684\u806f\u90a6\u516c\u958b\u5e02\u5834\u59d4\u54e1\u6703\u6703\u8b70\u7d00\u8981\uff08FOMC minutes\uff1a\u806f\u5132\u5c40\u8b70\u606f\u6c7a\u7b56\u6a5f\u69cb\u7684\u6703\u8b70\u8a18\u9304\uff09\u6216\u6703\u66f4\u6e05\u695a\u4ea4\u4ee3\u6c7a\u7b56\u8005\u5982\u4f55\u8a55\u4f30\u901a\u8139\u3001\u5c31\u696d\uff0c\u4ee5\u53ca\u662f\u5426\u9700\u8981\u518d\u6536\u7dca\u3002<\/p>\n\n\n\n<p>\u56e0\u6b64\uff0c\u5728\u7d00\u8981\u516c\u5e03\u524d\u5f8c\uff0cUS10Y\u6216\u6703\u5c0d\u5229\u7387\u9810\u671f\u8b8a\u5316\u66f4\u654f\u611f\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u5b73\u606f\u7387\u95dc\u9375\u6c34\u5e73<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2026\/07\/10Y-US-Treasury.webp\" alt=\"\" class=\"wp-image-61118\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>\u5b73\u606f\u7387\u6c34\u5e73<\/strong><\/td><td><strong>\u5e02\u5834\u91cd\u9ede<\/strong><\/td><\/tr><tr><td>4.56%<\/td><td>6\u6708\u9ad8\u4f4d\u5f62\u6210\u8f03\u5927\u963b\u529b<\/td><\/tr><tr><td>4.52%<\/td><td>\u73fe\u6c34\u5e73\u4e4b\u4e0a\u7b2c\u4e8c\u9053\u963b\u529b<\/td><\/tr><tr><td>4.50%<\/td><td>\u4e3b\u8981\u5fc3\u7406\u95dc\u53e3\u53ca\u6280\u8853\u963b\u529b\uff08\u5fc3\u7406\u95dc\u53e3\uff1a\u5e02\u5834\u6163\u6027\u95dc\u6ce8\u7684\u6574\u6578\u4f4d\uff09<\/td><\/tr><tr><td>4.48%<\/td><td>\u8cbc\u8fd1\u6700\u65b0\u4ea4\u6613\u65e5\u9ad8\u4f4d\u7684\u5373\u5e02\u963b\u529b<\/td><\/tr><tr><td>4.47%<\/td><td>\u73fe\u6642\u4ea4\u6613\u5340\u57df<\/td><\/tr><tr><td>4.44%<\/td><td>\u5373\u5e02\u77ed\u7dda\u652f\u6301<\/td><\/tr><tr><td>4.40%<\/td><td>\u4e3b\u8981\u5fc3\u7406\u95dc\u53e3\u53ca\u6280\u8853\u652f\u6301<\/td><\/tr><tr><td>4.36%<\/td><td>\u8fd1\u671f\u6ce2\u6bb5\u4f4e\u4f4d\u53ca\u8f03\u5927\u4e0b\u65b9\u652f\u6301\uff08\u6ce2\u6bb5\u4f4e\u4f4d\uff1a\u4e00\u6bb5\u6642\u9593\u5167\u7684\u4f4e\u9ede\uff09<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>US10Y\u65e5\u7dda\u5716\u986f\u793a\uff0c\u5b73\u606f\u7387\u57286\u6708\u5e95\u7d044.36%\u4f4e\u4f4d\u53cd\u5f48\u5f8c\uff0c\u73fe\u65bc\u7d044.465%\u9644\u8fd1\u5f98\u5f8a\uff0c\u4f46\u53cd\u5f48\u57284.48%\u81f34.50%\u963b\u529b\u5340\u4e0b\u65b9\u653e\u6162\u3002<\/p>\n\n\n\n<p>\u5982\u80fd\u6301\u7e8c\u5347\u7a7f4.48%\uff0c4.50%\u6216\u518d\u6210\u7126\u9ede\uff1b\u4f46\u8981\u51fa\u73fe\u66f4\u660e\u986f\u4e0a\u5347\uff0c\u9700\u7a81\u7834\u4e26\u4f01\u7a69\u65bc4.50%\u4e4b\u4e0a\u3002<\/p>\n\n\n\n<p>\u82e5\u78ba\u8a8d\u5347\u7834\u8a72\u6c34\u5e73\uff08\u78ba\u8a8d\uff1a\u50f9\u683c\/\u5b73\u606f\u7387\u7a81\u7834\u5f8c\u4e26\u975e\u5373\u523b\u56de\u843d\uff09\uff0c\u5e02\u5834\u6216\u8f49\u800c\u95dc\u6ce84.52%\uff0c\u5176\u5f8c\u70ba4.56%\u8f03\u5927\u963b\u529b\u3002<\/p>\n\n\n\n<p>\u4e0b\u884c\u65b9\u9762\uff0c4.44%\u70ba\u9996\u500b\u652f\u6301\u4f4d\uff1b\u82e5\u8dcc\u7a7f\uff0c\u6216\u4e0b\u8a664.40%\u5fc3\u7406\u95dc\u53e3\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u504f\u5f37\u8207\u504f\u5f31\u60c5\u666f<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>\u60c5\u666f<\/strong><\/td><td><strong>\u89f8\u767c\u689d\u4ef6<\/strong><\/td><td><strong>\u53ef\u80fd\u5e02\u5834\u53cd\u61c9<\/strong><\/td><\/tr><tr><td>\u5b73\u606f\u7387\u56de\u5347<\/td><td>\u5347\u7a7f4.48%<\/td><td>US10Y\u6216\u518d\u6e2c4.50%<\/td><\/tr><tr><td>\u5b73\u606f\u7387\u7a81\u7834<\/td><td>\u5347\u78344.50%<\/td><td>\u7126\u9ede\u6216\u8f49\u54114.52%\u81f34.56%<\/td><\/tr><tr><td>\u5340\u9593\u6574\u56fa<\/td><td>\u7dad\u63014.44%\u81f34.50%\u4e4b\u9593<\/td><td>\u5e02\u5834\u6216\u7b49\u5f85\u806f\u5132\u5c40\u66f4\u6e05\u6670\u8a0a\u865f<\/td><\/tr><tr><td>\u5b73\u606f\u7387\u4e0b\u884c<\/td><td>\u8dcc\u7a7f4.44%<\/td><td>US10Y\u6216\u4e0b\u8a664.40%<\/td><\/tr><tr><td>\u8dcc\u52e2\u5ef6\u4f38<\/td><td>\u8dcc\u7a7f4.40%<\/td><td>\u6216\u9032\u4e00\u6b65\u56de\u843d\u81f34.36%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u504f\u5f37\u60c5\u666f\u53d6\u6c7a\u65bcUS10Y\u5347\u7a7f4.48%\uff0c\u4e26\u78ba\u8a8d\u7a81\u78344.50%\u3002\u9019\u6216\u53cd\u6620\u5e02\u5834\u91cd\u65b0\u62bc\u6ce8\u653f\u7b56\u66f4\u6536\u7dca\uff0c\u6216\u901a\u8139\u964d\u6eab\u4e0d\u8db3\u3002<\/p>\n\n\n\n<p>\u82e5\u5347\u52e2\u52a0\u5feb\uff0c\u9700\u518d\u5347\u78344.52%\uff1b\u4e00\u65e6\u4f01\u7a69\uff0c\u6216\u5ef6\u4f38\u81f34.56%\u9644\u8fd1\u963b\u529b\u3002<\/p>\n\n\n\n<p>\u4e2d\u6027\u60c5\u666f\u70ba4.44%\u81f34.50%\u4e4b\u9593\u6574\u56fa\uff08\u6574\u56fa\uff1a\u5728\u72f9\u7a84\u5340\u9593\u5167\u4e0a\u843d\uff09\u3002\u9019\u6216\u53cd\u6620\u4ea4\u6613\u54e1\u7b49\u5f85FOMC\u6703\u8b70\u7d00\u8981\u53ca\u5373\u5c07\u5230\u4f86\u7684\u570b\u50b5\u62cd\u8ce3\uff08Treasury auctions\uff1a\u653f\u5e9c\u767c\u884c\u570b\u50b5\u7531\u6295\u8cc7\u8005\u7af6\u6295\uff09\u518d\u6c7a\u5b9a\u65b9\u5411\u3002<\/p>\n\n\n\n<p>\u504f\u5f31\u60c5\u666f\u5728US10Y\u8dcc\u7a7f4.44%\u5f8c\u66f4\u660e\u986f\uff1b\u82e5\u78ba\u8a8d\u8dcc\u7a7f\uff0c4.40%\u6216\u6210\u7126\u9ede\u3002\u59824.40%\u4ea6\u5931\u5b88\uff0c\u5b73\u606f\u7387\u6216\u56de\u6e2c\u8fd1\u671f\u7d044.36%\u7684\u6ce2\u6bb5\u4f4e\u4f4d\u3002<\/p>\n\n\n\n<p>\u4e00\u822c\u800c\u8a00\uff0c\u5b73\u606f\u7387\u4e0b\u8dcc\u6709\u5229\u570b\u50b5\u50f9\u683c\uff1b\u5b73\u606f\u7387\u4e0a\u5347\u5247\u4ee4\u570b\u50b5\u50f9\u683c\u53d7\u58d3\u3002<\/p>\n\n\n\n<p><em>\u514d\u8cac\u8072\u660e<\/em><\/p>\n\n\n\n<p><em>\u4ee5\u4e0a\u50f9\u683c\u6c34\u5e73\u53ca\u4ea4\u6613\u60c5\u666f\u50c5\u53cd\u6620\u4f5c\u8005\u64b0\u6587\u6642\u89c0\u9ede\uff0c\u4e0d\u69cb\u6210\u6295\u8cc7\u5efa\u8b70\uff0c\u4ea6\u4e0d\u4ee3\u8868VT Markets\u7684\u5b98\u65b9\u63a8\u85a6\u3002\u4ea4\u6613\u8005\u61c9\u81ea\u884c\u5206\u6790\u4e26\u505a\u597d\u98a8\u96aa\u7ba1\u7406\uff08\u98a8\u96aa\u7ba1\u7406\uff1a\u63a7\u5236\u8667\u640d\u8207\u5009\u4f4d\u5927\u5c0f\u7684\u505a\u6cd5\uff09\u3002<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u900f\u904e VT Markets \u4ea4\u6613\u7f8e\u570b\u570b\u50b5\u5dee\u50f9\u5408\u7d04\uff08CFD\uff09<\/h2>\n\n\n\n<p>\u7576\u5c31\u696d\u6578\u64da\u3001\u901a\u8139\u9810\u671f\u53ca\u806f\u5132\u5c40\u653f\u7b56\u8a0a\u865f\u8f49\u8b8a\u6642\uff0c\u7f8e\u570b\u570b\u50b5\u5e02\u5834\u53ef\u51fa\u73fe\u6025\u901f\u6ce2\u52d5\u3002<\/p>\n\n\n\n<p>\u900f\u904eVT Markets\uff0c\u4ea4\u6613\u8005\u53ef\u5728\u540c\u4e00\u4ea4\u6613\u5e73\u53f0\u8cb7\u8ce3\u50b5\u5238\u5dee\u50f9\u5408\u7d04\uff08Bond CFD\uff1a\u5dee\u50f9\u5408\u7d04\uff0c\u5c6c\u884d\u751f\u5de5\u5177\uff0c\u53ea\u7d50\u7b97\u50f9\u683c\u5347\u8dcc\u7684\u5dee\u984d\uff0c\u6bcb\u9808\u5be6\u969b\u8cb7\u5165\u570b\u50b5\uff09\uff0c\u4e26\u8ffd\u8e64\u7f8e\u570b\u570b\u50b5\u5e02\u5834\u8b8a\u5316\u3002<\/p>\n\n\n\n<p>VT Markets\u63d0\u4f9b\u5de5\u5177\u8ffd\u8e64\u5b73\u606f\u7387\u8d70\u52e2\u3001\u8fa8\u8b58\u95dc\u9375\u6c34\u5e73\u4e26\u6309\u5e02\u6cc1\u61c9\u5c0d\u3002\u7121\u8ad6US10Y\u5347\u7a7f4.50%\u6216\u8dcc\u7a7f4.40%\uff0c\u4ea4\u6613\u8005\u90fd\u53ef\u5229\u7528\u9032\u968e\u5716\u8868\u5de5\u5177\u53ca\u5f48\u6027\u5e33\u6236\u9078\u9805\u76e3\u5bdf\u5f62\u52e2\u3002<\/p>\n\n\n\n<p>\u4e86\u89e3\u66f4\u591a\uff1a\u5728VT Markets\u4ea4\u6613<a href=\"https:\/\/www.vtmarkets.com\/cfd-bonds\/\">\u50b5\u5238\u5dee\u50f9\u5408\u7d04\uff08CFD bonds\uff09<\/a>\uff0c\u8a73\u60c5\u8acb\u6309<a href=\"https:\/\/www.vtmarkets.com\/Insights\/\">\u6b64\u8655<\/a>\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u70ba\u4f55\u4ea4\u6613\u7f8e\u570b\u570b\u50b5\u5dee\u50f9\u5408\u7d04\uff08CFD\uff09\uff1f<\/h2>\n\n\n\n<p>\u50b5\u5238\u5dee\u50f9\u5408\u7d04\u8b93\u4ea4\u6613\u8005\u5728\u4e0d\u8cb7\u5165\u5be6\u7269\u7f8e\u570b\u570b\u50b5\u7684\u60c5\u6cc1\u4e0b\uff0c\u90e8\u7f72\u50b5\u5238\u50f9\u683c\u4e0a\u5347\u6216\u4e0b\u8dcc\u3002<\/p>\n\n\n\n<p>\u7531\u65bc\u570b\u50b5\u50f9\u683c\u8207\u5b73\u606f\u7387\u4e00\u822c\u53cd\u5411\uff0cUS10Y\u4e0b\u8dcc\u901a\u5e38\u652f\u6301\u570b\u50b5\u50f9\u683c\uff1b\u5b73\u606f\u7387\u4e0a\u5347\u5247\u4ee4\u50f9\u683c\u53d7\u58d3\u3002<\/p>\n\n\n\n<p>\u7576\u5c31\u696d\u5831\u544a\u3001\u901a\u8139\u6578\u64da\u53ca\u806f\u5132\u5c40\u6c7a\u7b56\u4ee4\u570b\u50b5\u5e02\u5834\u6ce2\u52d5\u52a0\u5927\u6642\uff0c\u50b5\u5238\u5dee\u50f9\u5408\u7d04\u53ef\u4f5c\u70ba\u53c3\u8207\u5de5\u5177\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u63a5\u4e0b\u4f86\u7126\u9ede<\/h2>\n\n\n\n<p>\u7126\u9ede\u70ba\u806f\u5132\u5c40<strong>6\u670816\u65e5\u81f317\u65e5<\/strong>\u6703\u8b70\u7d00\u8981\uff0c\u9810\u8a08\u65bc<strong>7\u67088\u65e5\uff08\u5468\u4e09\uff09<\/strong>\u516c\u5e03\u3002<\/p>\n\n\n\n<p>\u5e02\u5834\u5c07\u7559\u610f\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u662f\u5426\u6709\u8f03\u591a\u59d4\u54e1\u652f\u6301\u518d\u52a0\u606f<\/li>\n\n\n\n<li>\u5c0d\u901a\u8139\u6301\u7e8c\u504f\u9ad8\u7684\u6182\u616e\u7a0b\u5ea6<\/li>\n\n\n\n<li>\u662f\u5426\u8a0e\u8ad6\u5c31\u696d\u589e\u9577\u653e\u6162<\/li>\n\n\n\n<li>\u54ea\u4e9b\u7d93\u6fdf\u689d\u4ef6\u6703\u4ee4\u653f\u7b56\u53d6\u5411\u6539\u8b8a<\/li>\n\n\n\n<li>\u5982\u4f55\u6b0a\u8861\u901a\u8139\u8207\u5c31\u696d\u98a8\u96aa<\/li>\n<\/ul>\n\n\n\n<p>\u7d00\u8981\u7528\u8a5e\u6216\u5f71\u97ffUS10Y\u662f\u5426\u7e7c\u7e8c\u53d7\u5236\u65bc4.50%\u4e0b\u65b9\uff0c\u6216\u518d\u5ea6\u56de\u5347\u3002<\/p>\n\n\n\n<p>\u570b\u50b5\u62cd\u8ce3\u4ea6\u662f\u6aa2\u9a57\u6295\u8cc7\u8005\u9700\u6c42\u7684\u53e6\u4e00\u95dc\u300210\u5e74\u671f\u53ca30\u5e74\u671f\u570b\u50b5\u7684\u6295\u6a19\u7d50\u679c\uff0c\u53ef\u53cd\u6620\u8cb7\u5bb6\u5728\u73fe\u6c34\u5e73\u5b73\u606f\u7387\u4e0b\uff0c\u662f\u5426\u4ecd\u9858\u610f\u5438\u7d0d\u8f03\u9577\u5e74\u671f\u653f\u5e9c\u50b5\u52d9\uff08\u9577\u5e74\u671f\uff1a\u5230\u671f\u6642\u9593\u8f03\u9577\uff09\u3002<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">The US bond market faces a test of investor demand for longer-dated maturities, with auctions of 10- and 30-year Treasuries highlighting an otherwise light week <a href=\"https:\/\/t.co\/1YfgUxRNTh\">https:\/\/t.co\/1YfgUxRNTh<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/x.com\/business\/status\/2073894950693998769?ref_src=twsrc%5Etfw\">July 5, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>\u82e5\u62cd\u8ce3\u9700\u6c42\u5f37\uff0c\u53ef\u9650\u5236US10Y\u4e0a\u884c\uff1b\u82e5\u6295\u6a19\u53cd\u61c9\u504f\u5f31\uff0c\u5b73\u606f\u7387\u6216\u53d7\u4e0a\u884c\u58d3\u529b\u3002<\/p>\n\n\n\n<p>\u9664\u7d00\u8981\u53ca\u62cd\u8ce3\u5916\uff0c\u5e02\u5834\u4ea6\u9700\u7559\u610f\u901a\u8139\u6578\u64da\u3001\u6bcf\u5468\u521d\u9818\u5931\u696d\u6551\u6fdf\u4eba\u6578\uff08\u53cd\u6620\u77ed\u671f\u5931\u696d\u60c5\u6cc1\u7684\u9031\u5ea6\u6578\u64da\uff09\u53ca\u806f\u5132\u5c40\u5b98\u54e1\u8b1b\u8a71\u3002<\/p>\n\n\n\n<p>\u77ed\u7dda\u800c\u8a00\uff0c4.44%\u81f34.50%\u4ecd\u70ba\u4e3b\u8981\u5340\u9593\u3002\u82e5\u78ba\u8a8d\u5347\u78344.50%\uff0c\u6216\u4e0a\u671b4.52%\u53ca4.56%\uff1b\u82e5\u8dcc\u7a7f4.44%\uff0c\u5247\u6216\u4e0b\u8a664.40%\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">\u5e38\u898b\u554f\u984c<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u70ba\u4f55\u7f8e\u570b10\u5e74\u671f\u570b\u50b5\u5b73\u606f\u7387\u4e0b\u8dcc\uff1f<\/h3>\n\n\n\n<p>US10Y\u4e0b\u8dcc\uff0c\u4e3b\u8981\u56e06\u6708\u975e\u8fb2\u65b0\u589e\u8077\u4f4d\u653e\u6162\u81f35.7\u842c\uff0c\u52a0\u4e0a\u524d\u5169\u500b\u6708\u6578\u64da\u88ab\u4e0b\u4fee\u3002\u9019\u964d\u4f4e\u5e02\u5834\u5c0d\u806f\u5132\u5c40\u77ed\u671f\u5167\u9700\u8981\u518d\u6536\u7dca\u653f\u7b56\u7684\u9810\u671f\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5b73\u606f\u7387\u4e0b\u8dcc\u6642\uff0c\u570b\u50b5\u50f9\u683c\u6703\u600e\u6a23\uff1f<\/h3>\n\n\n\n<p>\u570b\u50b5\u50f9\u683c\u8207\u5b73\u606f\u7387\u4e00\u822c\u53cd\u5411\u3002\u9700\u6c42\u589e\u52a0\u6642\uff0c\u570b\u50b5\u50f9\u683c\u4e0a\u5347\u3001\u5b73\u606f\u7387\u4e0b\u8dcc\uff1b\u7576\u6295\u8cc7\u8005\u6cbd\u552e\u570b\u50b5\uff0c\u50f9\u683c\u4e0b\u8dcc\u3001\u5b73\u606f\u7387\u4e0a\u5347\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u7f8e\u570b10\u5e74\u671f\u570b\u50b5\u5c6c\u300c\u50b5\u5238\u300d\u9084\u662f\u300c\u7968\u64da\u300d\uff1f<\/h3>\n\n\n\n<p>\u6309\u7f8e\u570b\u8ca1\u653f\u90e8\u5206\u985e\uff0c\u539f\u59cb\u671f\u9650\uff08Initial maturity\uff1a\u767c\u884c\u6642\u7684\u5230\u671f\u5e74\u671f\uff09\u4ecb\u4e4e2\u5e74\u81f310\u5e74\u7684\u5c6c\u570b\u5eab\u7968\u64da\uff08Treasury notes\uff09\uff1b\u56e0\u6b6410\u5e74\u671f\u57fa\u6e96\u54c1\u7a2e\u6280\u8853\u4e0a\u662f\u300c\u7968\u64da\u300d\uff0c\u4f46\u5e02\u5834\u5e38\u628a\u5b83\u653e\u5728\u66f4\u5ee3\u7fa9\u7684\u50b5\u5e02\u8a0e\u8ad6\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">FOMC\u6703\u8b70\u7d00\u8981\u5c0dUS10Y\u70ba\u4f55\u91cd\u8981\uff1f<\/h3>\n\n\n\n<p>\u7d00\u8981\u6bd4\u653f\u7b56\u8072\u660e\u66f4\u8a73\u7d30\uff0c\u53ef\u80fd\u62ab\u9732\u6c7a\u7b56\u8005\u5982\u4f55\u8a55\u4f30\u901a\u8139\u3001\u5c31\u696d\uff0c\u4ee5\u53ca\u662f\u5426\u9700\u8981\u8abf\u6574\u5229\u7387\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">US10Y\u4e3b\u8981\u95dc\u6ce8\u6c34\u5e73\u6709\u54ea\u4e9b\uff1f<\/h3>\n\n\n\n<p>\u652f\u6301\u4f4d\u7d04\u70ba4.44%\uff0c\u5176\u5f8c\u662f4.40%\u53ca4.36%\uff1b\u963b\u529b\u4f4d\u7d04\u70ba4.48%\uff0c\u5176\u5f8c\u662f4.50%\u30014.52%\u53ca4.56%\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u751a\u9ebc\u56e0\u7d20\u53ef\u63a8\u52d5US10Y\u5347\u7a7f4.50%\uff1f<\/h3>\n\n\n\n<p>\u82e5\u7d93\u6fdf\u6578\u64da\u8f49\u5f37\u3001\u901a\u8139\u6301\u7e8c\u504f\u9ad8\uff0c\u6216\u806f\u5132\u5c40\u8a0a\u606f\u66f4\u504f\u6536\u7dca\uff08\u66f4\u504f\u9df9\uff1a\u50be\u5411\u52a0\u606f\u4ee5\u58d3\u901a\u8139\uff09\uff0c\u5e02\u5834\u6216\u4e0a\u8abf\u653f\u7b56\u5229\u7387\u9810\u671f\uff0c\u63a8\u52d5US10Y\u5347\u7a7f\u8fd1\u671f\u963b\u529b\u5340\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u751a\u9ebc\u56e0\u7d20\u53ef\u63a8\u52d5US10Y\u8dcc\u7a7f4.40%\uff1f<\/h3>\n\n\n\n<p>\u82e5\u7d93\u6fdf\u6578\u64da\u8f49\u5f31\u3001\u901a\u8139\u58d3\u529b\u7de9\u548c\uff0c\u6216\u806f\u5132\u5c40\u53d6\u614b\u66f4\u5be9\u614e\uff08\u66f4\u504f\u9d3f\uff1a\u8f03\u5c11\u50be\u5411\u52a0\u606f\uff09\uff0c\u5e02\u5834\u6216\u589e\u52a0\u5438\u7d0d\u570b\u50b5\uff0c\u4ee4US10Y\u8dcc\u7a7f4.40%\u3002<\/p>\n\n\n\n\n<p><b>\u7acb\u5373\u958b\u59cb\u4ea4\u6613 \u2014 \u9ede\u64ca<a href=\"https:\/\/www.vtmarkets.com\/zh-ca\/trade-now\/\">\u6b64\u8655<\/a>\u958b\u8a2d\u60a8\u7684 VT Markets 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