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\u8f03\u9577\u5e74\u671f\u7684\u9810\u671f\u8b8a\u52d5\u8f03\u5c0f\u3002\u4e09\u5e74\u671f\u9810\u671f\u5fae\u5347\u81f33.1%\uff0c\u4e94\u5e74\u671f\u9810\u671f\u7dad\u63013.0%\u3002<\/p>\n
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\u806f\u90a6\u516c\u958b\u5e02\u5834\u59d4\u54e1\u6703\uff08FOMC\uff0c\u5373\u806f\u5132\u5c40\u8ca0\u8cac\u5236\u5b9a\u8ca8\u5e63\u653f\u7b56\u7684\u59d4\u54e1\u6703\uff09\u6703\u8b70\u7d00\u8981\u5c07\u65bc\u5468\u4e09\u516c\u5e03\uff0c\u6216\u63d0\u4f9b\u5b98\u54e1\u5982\u4f55\u8a55\u4f30\u901a\u8139\u98a8\u96aa\u7684\u66f4\u591a\u7d30\u7bc0\u3002<\/p>\n
\u901a\u8139\u662f\u6307\u4e00\u7c43\u5b50\u5546\u54c1\u53ca\u670d\u52d9\u6574\u9ad4\u50f9\u683c\u4e0a\u5347\uff0c\u5e38\u7528\u6309\u6708\uff08MoM\uff0cmonth-on-month\uff0c\u5373\u8207\u4e0a\u6708\u6bd4\u8f03\uff09\u53ca\u6309\u5e74\uff08YoY\uff0cyear-on-year\uff0c\u5373\u8207\u53bb\u5e74\u540c\u6708\u6bd4\u8f03\uff09\u8861\u91cf\u3002\u300c\u6838\u5fc3\u901a\u8139\u300d\uff08core inflation\uff09\u6703\u5254\u9664\u98df\u54c1\u53ca\u71c3\u6599\u7b49\u6ce2\u52d5\u8f03\u5927\u7684\u9805\u76ee\uff0c\u653f\u7b56\u76ee\u6a19\u7d93\u5e38\u4ee5\u7d042%\u4f5c\u53c3\u8003\u3002<\/p>\n
\u300c\u6d88\u8cbb\u7269\u50f9\u6307\u6578\u300d\uff08CPI\uff0cConsumer Price Index\uff09\u7528\u4f86\u8ffd\u8e64\u4e0a\u8ff0\u4e00\u7c43\u5b50\u50f9\u683c\u8b8a\u5316\uff1b\u300c\u6838\u5fc3CPI\u300d\u5247\u518d\u5254\u9664\u6ce2\u52d5\u8f03\u5927\u7684\u9805\u76ee\u3002\u901a\u8139\u8f03\u9ad8\u53ef\u80fd\u4ee4\u5229\u7387\u66f4\u9ad8\uff0c\u5f9e\u800c\u6709\u52a9\u652f\u6301\u8ca8\u5e63\u532f\u50f9\u3002<\/p>\n
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\u901a\u8139\u9ecf\u6027\uff08sticky inflation\uff0c\u5373\u56de\u843d\u7de9\u6162\u3001\u96e3\u4ee5\u964d\u6eab\uff09\u5c0d\u80a1\u7968\u4e0d\u5229\uff0c\u5c24\u5176\u4f9d\u8cf4\u4f4e\u878d\u8cc7\u6210\u672c\u7684\u9ad8\u589e\u9577\u79d1\u6280\u80a1\u30022025\u5e74\u80a1\u5e02\u8868\u73fe\u5f37\u52c1\u5f8c\uff0c\u4f30\u503c\u504f\u9ad8\uff0c\u5728\u300c\u5229\u7387\u504f\u9ad8\u4e26\u7dad\u6301\u66f4\u4e45\u300d\uff08higher-for-longer\uff09\u7684\u74b0\u5883\u4e0b\u66f4\u6613\u53d7\u58d3\u3002\u6211\u5011\u8a8d\u70ba\u4ea4\u6613\u54e1\u53ef\u8003\u616e\u8cb7\u5165\u7d0d\u6307100\uff08Nasdaq 100\uff09\u4fdd\u8b77\u6027\u8a8d\u6cbd\u671f\u6b0a\uff08protective puts\uff0c\u5373\u70ba\u6301\u5009\u8cb7\u4fdd\u96aa\uff09\u4ee5\u9632\u56de\u8abf\u3002<\/p>\n
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\u6d88\u8cbb\u8005\u6182\u616e\u4f86\u6e90\u4e4b\u4e00\u662f\u6c7d\u6cb9\u50f9\u683c\u4e0a\u5347\uff0c\u53cd\u6620\u80fd\u6e90\u677f\u584a\u6216\u6301\u7e8c\u504f\u5f37\u3002\u8fd1\u671f\u5831\u544a\u986f\u793a\uff0cWTI\u539f\u6cb9\uff08West Texas Intermediate\uff0c\u7f8e\u570b\u57fa\u6e96\u539f\u6cb9\uff09\u5728\u5730\u7de3\u653f\u6cbb\u7dca\u5f35\u6301\u7e8c\u4e0b\u4f01\u7a69\u6bcf\u687690\u7f8e\u5143\u4ee5\u4e0a\uff0c\u300c\u98a8\u96aa\u6ea2\u50f9\u300d\uff08risk premium\uff0c\u5373\u56e0\u4e0d\u78ba\u5b9a\u6027\u800c\u984d\u5916\u8981\u6c42\u7684\u56de\u5831\uff09\u672a\u898b\u6d88\u9000\u3002\u8cb7\u5165\u539f\u6cb9\u671f\u8ca8\u8a8d\u8cfc\u671f\u6b0a\uff0c\u4ecd\u662f\u76f4\u63a5\u62bc\u6ce8\u901a\u8139\u58d3\u529b\u7684\u65b9\u6848\u3002<\/p>\n
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