{"id":40537,"date":"2026-03-19T23:59:29","date_gmt":"2026-03-19T23:59:29","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/40537\/"},"modified":"2026-03-19T23:59:29","modified_gmt":"2026-03-19T23:59:29","slug":"%e6%b3%95%e5%9c%8b%e5%b7%b4%e9%bb%8e%e9%8a%80%e8%a1%8c%e8%a1%a8%e7%a4%ba%ef%bc%8c%e4%b8%ad%e6%ad%90%e4%be%9d%e7%84%b6%e5%85%b7%e9%9f%8c%e6%80%a7%ef%bc%8c%e6%ad%90%e7%9b%9f%e8%b3%87%e9%87%91%e3%80%81","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh\/live-updates\/40537\/","title":{"rendered":"\u6cd5\u570b\u5df4\u9ece\u9280\u884c\u8868\u793a\uff0c\u4e2d\u6b50\u4f9d\u7136\u5177\u97cc\u6027\uff0c\u6b50\u76df\u8cc7\u91d1\u3001\u751f\u7522\u529b\u8207\u6559\u80b2\u62b5\u6d88\u4eba\u53e3\u7d50\u69cb\u4e0b\u6ed1"},"content":{"rendered":"\u4e2d\u6b50\u5404\u570b\u7d93\u6fdf\u5373\u4f7f\u9762\u81e8\u4eba\u53e3\u4e0b\u964d\u3001\u52de\u52d5\u5e74\u9f61\u4eba\u53e3\uff08\u53ef\u5de5\u4f5c\u7684\u4e3b\u8981\u5e74\u9f61\u5c64\uff09\u8b8a\u5c11\uff0c\u4ecd\u4fdd\u6301\u4e00\u5b9a\u7684\u6297\u8dcc\u80fd\u529b\u3002\u6b50\u76df\u8cc7\u91d1\uff08EU 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\u5e74\u672b\u7684\u4eba\u53e3\u9810\u6e2c\u986f\u793a\uff0c\u8a72\u5730\u5340\u52de\u52d5\u5e74\u9f61\u4eba\u53e3\u5230\u672c\u5341\u5e74\u672b\u5c07\u518d\u7e2e\u6e1b 4\u20135%\u3002\u9019\u7a2e\u7d50\u69cb\u6027\u963b\u529b\uff08structural headwind\uff0c\u9577\u671f\u4e0d\u5229\u56e0\u7d20\uff09\u76ee\u524d\u9084\u4e0d\u662f\u4e3b\u5c0e\u8cc7\u7522\u50f9\u683c\uff08asset prices\uff0c\u80a1\u7968\u3001\u532f\u7387\u3001\u50b5\u5238\u50f9\u683c\u7b49\uff09\u7684\u4e3b\u8981\u56e0\u7d20\u3002\n\n\u56e0\u6b64\uff0c\u53ef\u8003\u616e\u7528\u8ce3\u51fa\u77ed\u671f\u9078\u64c7\u6b0a\u53d6\u5f97\u7684\u6b0a\u5229\u91d1\uff0c\u53bb\u8cb7\u8f03\u9577\u5929\u671f\u7684\u4fdd\u8b77\uff08longer-dated protection\uff0c\u671f\u9650\u66f4\u9577\u7684\u907f\u96aa\u90e8\u4f4d\uff09\u3002\u4f8b\u5982\u8cb7\u5165 1\u20132 \u5e74\u671f\u7684 EUR\/PLN \u8cb7\u6b0a\uff08call 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