{"id":40860,"date":"2026-03-24T17:59:11","date_gmt":"2026-03-24T17:59:11","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/40860\/"},"modified":"2026-03-24T17:59:11","modified_gmt":"2026-03-24T17:59:11","slug":"%e7%be%8e%e5%9c%8b%e3%80%8a%e7%b4%85%e7%9a%ae%e6%9b%b8%e3%80%8b%e5%b9%b4%e5%ba%a6%e6%8c%87%e6%95%b8%e5%8d%87%e8%87%b3-6-7%ef%bc%8c%e9%ab%98%e6%96%bc%e5%89%8d%e5%80%bc-6-4","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh\/live-updates\/40860\/","title":{"rendered":"\u7f8e\u570b\u300a\u7d05\u76ae\u66f8\u300b\u5e74\u5ea6\u6307\u6578\u5347\u81f3 6.7%\uff0c\u9ad8\u65bc\u524d\u503c 6.4%"},"content":{"rendered":"\u7f8e\u570b Redbook \u6307\u6578\u7684\u5e74\u589e\u7387\u5728 3 \u6708 20 \u65e5\u70ba 6.7%\u3002\n\n\u524d\u4e00\u6b21\u8b80\u6578\u70ba 6.4%\u3002\n\n<h3>\u6d88\u8cbb\u652f\u51fa\u52a0\u901f<\/h3>\nRedbook \u6307\u6578\u5347\u81f3 6.7%\uff0c\u4ee3\u8868\u6d88\u8cbb\u652f\u51fa\u4e0d\u53ea\u6490\u5f97\u4f4f\uff0c\u9084\u5728\u52a0\u5feb\u3002\u9019\u7a2e\u6301\u7e8c\u504f\u5f37\u7684\u6d88\u8cbb\u529b\u9053\u6703\u8b93\u806f\u6e96\u6703\uff08Federal Reserve\uff0c\u7c21\u7a31 Fed\uff1b\u7f8e\u570b\u7684\u4e2d\u592e\u9280\u884c\uff0c\u8ca0\u8cac\u8abf\u6574\u5229\u7387\u8207\u63a7\u5236\u901a\u81a8\uff09\u66f4\u6709\u58d3\u529b\uff0c\u56e0\u70ba\u8981\u5728\u77ed\u671f\u5167\u964d\u606f\uff08\u964d\u4f4e\u57fa\u6e96\u5229\u7387\uff0c\u901a\u5e38\u7528\u4f86\u523a\u6fc0\u7d93\u6fdf\uff09\u5c31\u66f4\u96e3\u81ea\u5713\u5176\u8aaa\u3002\u6211\u5011\u76ee\u524d\u66f4\u50be\u5411\u8a8d\u70ba Fed 4 \u6708\u6703\u8b70\u5c07\u7dad\u6301\u5229\u7387\u4e0d\u8b8a\uff1b\u800c\u671f\u8ca8\u5e02\u5834\uff08\u7528\u4f86\u4ea4\u6613\u672a\u4f86\u50f9\u683c\u7684\u5408\u7d04\u5e02\u5834\uff09\u4e5f\u5feb\u901f\u964d\u4f4e\u300c\u7b2c\u4e09\u5b63\u524d\u964d\u606f\u300d\u7684\u6a5f\u7387\u5b9a\u50f9\u3002\n\n\u9019\u6ce2\u901a\u81a8\u7591\u616e\u518d\u8d77\uff0c\u4ee3\u8868\u4ea4\u6613\u8005\u53ef\u8003\u616e\u5728\u5229\u7387\u76f8\u95dc\u5546\u54c1\u4e0a\u63a1\u53d6\u504f\u7a7a\uff08\u770b\u8dcc\u3001\u9810\u671f\u50f9\u683c\u4e0b\u8dcc\uff09\u7684\u7b56\u7565\u3002\u6211\u5011\u5df2\u770b\u5230 10 \u5e74\u671f\u7f8e\u570b\u516c\u50b5\u6b96\u5229\u7387\uff0810-year Treasury yield\uff1b\u7f8e\u570b\u653f\u5e9c 10 \u5e74\u671f\u50b5\u5238\u7684\u5e74\u5316\u5831\u916c\u7387\uff0c\u6b96\u5229\u7387\u4e0a\u5347\u901a\u5e38\u8868\u793a\u50b5\u5238\u50f9\u683c\u4e0b\u8dcc\uff09\u672c\u6708\u56de\u5347\u5230\u63a5\u8fd1 4.5%\uff0c\u9019\u662f\u81ea\u53bb\u5e74\u5e95\u4ee5\u4f86\u5c11\u898b\u7684\u6c34\u6e96\u3002\u8cb7\u9032\u9577\u5929\u671f\u50b5\u5238 ETF\uff08Exchange-Traded Fund\uff1b\u53ef\u5728\u4ea4\u6613\u6240\u8cb7\u8ce3\u7684\u57fa\u91d1\uff09 \u7684\u8ce3\u6b0a\uff08put options\uff1b\u5728\u5230\u671f\u524d\u4ee5\u7279\u5b9a\u50f9\u683c\u8ce3\u51fa\u7684\u6b0a\u5229\uff0c\u5e38\u7528\u4f86\u62bc\u6ce8\u4e0b\u8dcc\u6216\u907f\u96aa\uff09\uff0c\u6216\u76f4\u63a5\u653e\u7a7a\u7f8e\u570b\u516c\u50b5\u671f\u8ca8\uff08Treasury futures\uff1b\u4ee5\u672a\u4f86\u4ea4\u5272\u7684\u516c\u50b5\u70ba\u6a19\u7684\u7684\u671f\u8ca8\u5408\u7d04\uff09\uff0c\u90fd\u80fd\u66f4\u76f4\u63a5\u5730\u62bc\u6ce8\u300c\u5229\u7387\u7dad\u6301\u9ad8\u6a94\u66f4\u4e45\u300d\u3002\n\n\u5c0d\u80a1\u7968\u800c\u8a00\uff0c\u5e02\u5834\u53ef\u80fd\u51fa\u73fe\u5206\u5316\u3002\u6d88\u8cbb\u652f\u51fa\u5f37\u52c1\u5c0d\u96f6\u552e\u8207\u975e\u5fc5\u9700\u6d88\u8cbb\uff08consumer discretionary\uff1b\u53ef\u9078\u64c7\u6027\u652f\u51fa\uff0c\u5982\u65c5\u904a\u3001\u8010\u4e45\u8ca1\uff09\u985e\u80a1\u662f\u5229\u591a\uff0c\u56e0\u6b64\u53ef\u8003\u616e\u8cb7\u9032\u7279\u5b9a\u7522\u696d ETF \u7684\u8cb7\u6b0a\uff08call options\uff1b\u5728\u5230\u671f\u524d\u4ee5\u7279\u5b9a\u50f9\u683c\u8cb7\u5165\u7684\u6b0a\u5229\uff0c\u5e38\u7528\u4f86\u62bc\u6ce8\u4e0a\u6f32\uff09\u3002\u9019\u4e5f\u547c\u61c9 3 \u6708\u521d\u7684\u6700\u65b0\u5c31\u696d\u5831\u544a\uff1a\u670d\u52d9\u696d\u65b0\u589e\u5c31\u696d\u8d85\u904e 25 \u842c\u4eba\uff0c\u986f\u793a\u670d\u52d9\u696d\u666f\u6c23\u4ecd\u5f37\u3002\n\n\u4f46\u5229\u7387\u9577\u671f\u7dad\u6301\u9ad8\u6a94\uff0c\u6703\u58d3\u6291\u5c0d\u501f\u8cb8\u6210\u672c\uff08borrowing costs\uff1b\u4f01\u696d\u6216\u500b\u4eba\u501f\u9322\u6240\u9700\u652f\u4ed8\u7684\u5229\u7387\u8207\u8cbb\u7528\uff09\u654f\u611f\u7684\u6210\u9577\u80a1\u8207\u79d1\u6280\u80a1\u3002\u56de\u9867\u904e\u53bb\uff0c\u5728 2025 \u5e74\u5e95\u4e5f\u66fe\u51fa\u73fe\u985e\u4f3c\u72c0\u6cc1\uff1a\u5f37\u52c1\u7d93\u6fdf\u6578\u64da\u4e00\u518d\u5ef6\u5f8c Fed \u8f49\u5411\uff08pivot\uff1b\u653f\u7b56\u5f9e\u5347\u606f\/\u7dca\u7e2e\u6539\u70ba\u964d\u606f\/\u5bec\u9b06\u7684\u65b9\u5411\u8f49\u8b8a\uff09\uff0c\u5c0e\u81f4\u79d1\u6280\u80a1\u660e\u986f\u843d\u5f8c\u3002\u9019\u4ee3\u8868\u5c0d\u5229\u7387\u654f\u611f\u7684\u80a1\u7968\u677f\u584a\u5b9c\u4fdd\u5b88\uff0c\u751a\u81f3\u53ef\u7528\u4fdd\u8b77\u6027\u8ce3\u6b0a\uff08protective puts\uff1b\u6301\u6709\u80a1\u7968\u540c\u6642\u8cb7\u5165\u8ce3\u6b0a\uff0c\u7528\u4f86\u9650\u5236\u4e0b\u8dcc\u98a8\u96aa\uff09\u4f86\u907f\u96aa\u3002\n\n<h3>\u7f8e\u5143\u8d70\u5f37\u6210\u70ba\u7126\u9ede<\/h3>\n\u5728\u5916\u532f\u5e02\u5834\uff08currency markets\uff1b\u8cb7\u8ce3\u4e0d\u540c\u570b\u5bb6\u8ca8\u5e63\u7684\u5e02\u5834\uff09\u4e2d\uff0c\u504f\u9df9\u6d3e\uff08hawkish\uff1b\u50be\u5411\u5347\u606f\u8207\u7dca\u7e2e\u3001\u5c0d\u6297\u901a\u81a8\u66f4\u5f37\u786c\uff09\u7684 Fed \u901a\u5e38\u5229\u591a\u7f8e\u5143\u3002\u7f8e\u5143\u6307\u6578\uff08Dollar Index\uff0cDXY\uff1b\u8861\u91cf\u7f8e\u5143\u76f8\u5c0d\u4e00\u7c43\u5b50\u4e3b\u8981\u8ca8\u5e63\u5f37\u5f31\u7684\u6307\u6a19\uff09\u672c\u9031\u5df2\u7a81\u7834 105\uff0c\u53cd\u6620\u7f8e\u570b\u8207\u6b50\u6d32\u5229\u5dee\u64f4\u5927\uff08interest rate differential\uff1b\u5169\u5730\u5229\u7387\u5dee\u8ddd\uff0c\u5dee\u8ddd\u64f4\u5927\u901a\u5e38\u5438\u5f15\u8cc7\u91d1\u6d41\u5411\u5229\u7387\u8f03\u9ad8\u7684\u4e00\u65b9\uff09\uff0c\u800c\u6b50\u6d32\u8fd1\u671f\u6578\u64da\u8f03\u5f31\u3002\u672a\u4f86\u5e7e\u9031\uff0c\u5c0d\u90a3\u4e9b\u592e\u884c\u66f4\u504f\u9d3f\u6d3e\uff08dovish\uff1b\u66f4\u50be\u5411\u964d\u606f\u6216\u7dad\u6301\u4f4e\u5229\u7387\u3001\u652f\u6301\u6210\u9577\uff09\u7684\u8ca8\u5e63\uff0c\u63a1\u53d6\u505a\u591a\u7f8e\u5143\uff08long positions\uff1b\u62bc\u6ce8\u6a19\u7684\u4e0a\u6f32\u7684\u90e8\u4f4d\uff09\u7684\u7b56\u7565\uff0c\u770b\u8d77\u4f86\u66f4\u5177\u5438\u5f15\u529b\u3002\n<p>\n\n<p><strong>\u7acb\u5373\u958b\u59cb\u4ea4\u6613 &#8211; \u9ede\u64ca<a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">\u9019\u88e1<\/a>\u5275\u5efa\u60a8\u7684 VT Markets \u771f\u5be6\u8cec\u6236 <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>Redbook \u5e74\u589e\u5347\u81f3 6.7% \u9ede\u71c3\u5e02\u5834\uff1a\u6d88\u8cbb\u52a0\u901f\u3001\u964d\u606f\u66f4\u96e3\uff0c10 \u5e74\u50b5\u6b96\u5229\u7387\u6500\u8fd1 4.5%\u3002\u53ef\u504f\u7a7a\u5229\u7387\u3001\u770b\u597d\u96f6\u552e\uff0c\u79d1\u6280\u627f\u58d3\uff1b\u7f8e\u5143\u6307\u6578\u7834 105\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-40860","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\/wp-json\/wp\/v2\/posts\/40860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/comments?post=40860"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts\/40860\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/media?parent=40860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/categories?post=40860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/tags?post=40860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}