{"id":53159,"date":"2026-08-03T15:51:50","date_gmt":"2026-08-03T15:51:50","guid":{"rendered":"https:\/\/www.vtmarkets.com\/zh-ca\/uncategorized\/53159\/"},"modified":"2026-08-03T15:51:50","modified_gmt":"2026-08-03T15:51:50","slug":"%e7%be%8e%e5%85%838%e6%9c%88%e5%88%9d%e8%b5%b0%e5%bc%b1%e3%80%80%e8%81%af%e5%84%b2%e5%b1%80%e6%94%b6%e5%9b%9e%e5%89%8d%e7%9e%bb%e6%8c%87%e5%bc%95%e5%8f%8a%e7%be%8e%e6%97%a5%e5%b9%b2%e9%a0%90%e6%86%82","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh-ca\/live-updates\/53159\/","title":{"rendered":"\u7f8e\u51438\u6708\u521d\u8d70\u5f31\u3000\u806f\u5132\u5c40\u6536\u56de\u524d\u77bb\u6307\u5f15\u53ca\u7f8e\u65e5\u5e72\u9810\u6182\u616e\u62d6\u7d2f\u7f8e\u5143"},"content":{"rendered":"

\u7f8e\u5143\u57287\u6708\u5e95\u6025\u632b\u5f8c\uff0c\u4ee5\u8f03\u5f31\u59ff\u614b\u8e0f\u51658\u6708\u3002\u5e02\u5834\u80cc\u666f\u5305\u62ec\uff1a\u5728\u4e3b\u5e2dKevin Warsh\u9818\u5c0e\u4e0b\u7684\u806f\u5132\u5c40\u672a\u6709\u70ba\u52a0\u606f\u4f5c\u5e02\u5834\u9810\u671f\u7ba1\u7406\uff0c\u7126\u9ede\u53cd\u800c\u8f49\u5411\u5236\u5ea6\u6027\u6539\u9769\uff0c\u5c24\u5176\u662f\u57287\u670828\u81f329\u65e5\u7684FOMC\u6703\u8b70\u5f8c\u7e2e\u6e1b\u524d\u77bb\u6307\u5f15\uff08forward guidance\uff09\u3002<\/p>\n

\u540c\u6642\uff0c\u7f8e\u65e5\u5c31\u7f8e\u5143\u514c\u65e5\u5713\uff08USD\/JPY\uff09\u9032\u884c\u5354\u8abf\u5e72\u9810\uff0c\u9032\u4e00\u6b65\u52a0\u5927\u7f8e\u5143\u58d3\u529b\uff1b\u800c\u4e2d\u6771\u5730\u7de3\u653f\u6cbb\u74b0\u5883\u964d\u6eab\uff0c\u4ea6\u524a\u5f31\u8cc7\u91d1\u5c0d\u7f8e\u5143\u7684\u907f\u96aa\u9700\u6c42\u3002\u5728\u5229\u7387\u5e02\u5834\u65b9\u9762\uff0c\u7f8e\u570b\u570b\u50b5\u5b73\u606f\u7387\u66f2\u7dda\u8f49\u8da8\u9661\u5ced\uff08steepening\uff09\u672a\u80fd\u5e36\u52d5\u7f8e\u5143\u8f49\u5f37\uff0c\u53cd\u800c\u53cd\u6620\u5e02\u5834\u5c0d\u7f8e\u570b\u8ca8\u5e63\u653f\u7b56\u65b9\u5411\u7684\u4fe1\u5fc3\u4e0b\u964d\u3002<\/p>\n

\u7f8e\u5143\u770b\u6de1\u5c55\u671b\u53ca\u884d\u751f\u5de5\u5177\u7b56\u7565<\/h3>\n

\u6211\u5011\u9810\u671f\u7f8e\u5143\u5728\u6574\u500b8\u6708\u5c07\u6301\u7e8c\u9762\u5c0d\u6c89\u91cd\u4e0b\u884c\u58d3\u529b\uff0c\u5ef6\u7e8c7\u6708\u5e95\u6025\u8dcc\u5f8c\u7684\u8d70\u52e2\u3002\u884d\u751f\u54c1\u4ea4\u6613\u8005\u53ef\u8003\u616e\u8cb7\u5165\u7f8e\u5143\u8a8d\u6cbd\u671f\u6b0a\uff08USD put options\uff09\uff0c\u6216\u5c0d\u4e3b\u8981\u8ca8\u5e63\u505a\u7a7a\u7f8e\u5143\u3002\u6b77\u53f2\u4e0a\uff0c\u7576\u7f8e\u5143\u6307\u6578\u57288\u6708\u5b63\u7bc0\u6027\u6de1\u975c\u671f\u8dcc\u7a7f\u95dc\u9375\u79fb\u52d5\u5e73\u5747\u7dda\u5f8c\uff0c\u6cbd\u58d3\u5f80\u5f80\u6703\u5ef6\u7e8c\u6578\u9031\u3002<\/p>\n

\u7f8e\u65e5\u5354\u8abf\u5e72\u9810\u4ee4\u505a\u7a7aUSD\/JPY\u6210\u70ba\u76f8\u7576\u5438\u5f15\u7684\u90e8\u7f72\u3002\u6b64\u985e\u806f\u5408\u884c\u52d5\u4ee4\u4eba\u806f\u60f3\u52302024\u5e74\u7684\u5927\u898f\u6a21\u5e72\u9810\uff0c\u7576\u6642\u65e5\u672c\u70ba\u634d\u885b\u65e5\u5713\u52d5\u7528\u63a5\u8fd19.8\u842c\u5104\u65e5\u5713\uff0c\u8b49\u660e\u8207\u592e\u884c\u5c0d\u8457\u5e79\u5f80\u5f80\u96e3\u6709\u52dd\u7b97\u3002\u6211\u5011\u5efa\u8b70\u63a1\u7528\u8a8d\u6cbd\u50f9\u5dee\u7b56\u7565\uff08bear put spreads\uff09\u4ee5\u6355\u6349\u9032\u4e00\u6b65\u4e0b\u8dcc\u7a7a\u9593\uff0c\u540c\u6642\u9650\u5236\u56e0\u7a81\u767c\u6ce2\u52d5\u5e36\u4f86\u7684\u98a8\u96aa\u3002<\/p>\n

\u5b73\u606f\u7387\u66f2\u7dda\u8207\u907f\u96aa\u9700\u6c42\u8f49\u8b8a<\/h3>\n

\u7531\u65bc\u806f\u5132\u5c40\u4e3b\u5e2dKevin Warsh\u9078\u64c7\u805a\u7126\u7e2e\u6e1b\u524d\u77bb\u6307\u5f15\u800c\u975e\u52a0\u606f\uff0c\u7f8e\u570b\u570b\u50b5\u5b73\u606f\u7387\u66f2\u7dda\u660e\u986f\u8f49\u9661\u3002\u5efa\u8b70\u5efa\u7acb\u5b73\u606f\u7387\u66f2\u7dda\u9661\u5ced\u5316\u4ea4\u6613\uff08yield curve steepener trades\uff09\uff0c\u57282\u5e74\u671f\u820710\u5e74\u671f\u5b73\u606f\u7387\u5dee\u8ddd\u64f4\u95ca\u6642\u7372\u5229\u3002\u6b64\u90e8\u7f72\u53ef\u5229\u7528\u5e02\u5834\u5c0d\u8ca8\u5e63\u653f\u7b56\u4fe1\u5fc3\u4e0b\u964d\u7684\u683c\u5c40\uff1b\u5728\u904e\u5f80\u60c5\u6cc1\u4e0b\uff0c\u9019\u5f80\u5f80\u6703\u63a8\u9ad8\u9577\u7aef\u5b73\u606f\u7387\u3002<\/p>\n

\u6700\u5f8c\uff0c\u4e2d\u6771\u5730\u7de3\u653f\u6cbb\u8f03\u70ba\u5e73\u975c\uff0c\u6b63\u524a\u5f31\u7f8e\u5143\u7684\u907f\u96aa\u5438\u5f15\u529b\u3002\u5efa\u8b70\u628a\u8cc7\u91d1\u8f49\u5411\u98a8\u96aa\u504f\u597d\uff08risk-on\uff09\u76f8\u95dc\u884d\u751f\u5de5\u5177\uff0c\u4f8b\u5982\u65b0\u8208\u5e02\u5834\u8ca8\u5e63\u7684\u8a8d\u8cfc\u671f\u6b0a\uff0c\u6216\u5546\u54c1\u76f8\u95dc\u8cc7\u7522\u3002\u591a\u9805\u56e0\u7d20\u540c\u6642\u4e0d\u5229\u7f8e\u5143\uff0c\u672a\u4f86\u6578\u9031\u4ee5\u914d\u7f6e\u7f8e\u5143\u504f\u5f31\u70ba\u6700\u5408\u4e4e\u908f\u8f2f\u7684\u7b56\u7565\u3002<\/p>\n\n\n\n

\u7acb\u5373\u958b\u59cb\u4ea4\u6613 \u2014 \u9ede\u64ca\u6b64\u8655<\/a>\u958b\u8a2d\u60a8\u7684 VT Markets \u771f\u5be6\u8cec\u6236\u3002<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"

\u7f8e\u51438\u6708\u5f31\u52e2\u958b\u5c40\uff1a\u806f\u5132\u5c40\u7e2e\u6e1b\u524d\u77bb\u6307\u5f15\u3001\u653f\u7b56\u4fe1\u5fc3\u964d\uff0c\u7f8e\u65e5\u5354\u8abf\u5e72\u9810\u58d3USD\/JPY\uff1b\u5b73\u606f\u66f2\u7dda\u8f49\u9661\u672a\u6490\u7f8e\u5143\u3002\u7b56\u7565\uff1a\u8cb7USD\u8a8d\u6cbd\u3001\u6cbdUSD\/JPY\u50f9\u5dee\u3001\u505a\u9661\u5ced\u5316\u3001\u589e\u6301\u98a8\u96aa\u8cc7\u7522\u3002<\/p>\n","protected":false},"author":87,"featured_media":50694,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-53159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t