{"id":47032,"date":"2026-05-08T10:14:23","date_gmt":"2026-05-08T10:14:23","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/47032\/"},"modified":"2026-05-08T10:14:23","modified_gmt":"2026-05-08T10:14:23","slug":"%e4%b8%89%e8%8f%b1%e6%97%a5%e8%81%af%e9%87%91%e8%9e%8d%e9%9b%86%e5%9c%98%e7%9a%84%e9%99%b3%e8%90%8a%e5%be%b7%e7%a8%b1%ef%bc%8c%e7%be%8e%e5%9c%8b%e9%9d%9e%e8%be%b2%e5%b0%b1%e6%a5%ad%e6%95%b8%e6%93%9a","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh\/live-updates\/47032\/","title":{"rendered":"\u4e09\u83f1\u65e5\u806f\u91d1\u878d\u96c6\u5718\u7684\u9673\u840a\u5fb7\u7a31\uff0c\u7f8e\u570b\u975e\u8fb2\u5c31\u696d\u6578\u64da\u6216\u5c07\u5c0f\u5e45\u63d0\u632f\u7f8e\u5143\uff0c\u52de\u52d5\u6578\u64da\u986f\u793a4\u6708\u6578\u64da\u6216\u66f4\u5f37\u52c1"},"content":{"rendered":"<p>\u4e09\u83f1\u65e5\u806f\u91d1\u878d\u96c6\u5718\uff08MUFG\uff09\u5206\u6790\u5e2b\u9673\u52de\u5fb7\uff08Lloyd Chan\uff09\u8868\u793a\uff0c\u7f8e\u570b\u975e\u8fb2\u5c31\u696d\uff08NFP\uff0c\u5373\u6bcf\u6708\u65b0\u589e\u7684\u975e\u8fb2\u696d\u8077\u4f4d\u6578\u64da\uff09\u5831\u544a\uff0c\u9023\u540c\u5931\u696d\u7387\u53ca\u85aa\u8cc7\u589e\u9577\uff08\u5de5\u8cc7\u4e0a\u5347\u901f\u5ea6\uff09\uff0c\u53ef\u80fd\u652f\u6301\u7f8e\u5143\u4e0a\u5347\u3002\u4ed6\u6307\u51fa\uff0c\u5e02\u5834\u5728\u6578\u64da\u516c\u5e03\u524d\u4e00\u76f4\u7dad\u6301\u7f8e\u5143\u6de8\u9577\u5009\uff08\u5373\u62bc\u6ce8\u7f8e\u5143\u4e0a\u5347\u7684\u6301\u5009\u591a\u65bc\u62bc\u6ce8\u4e0b\u8dcc\uff09\uff0c\u4f46\u6574\u9ad4\u5009\u4f4d\u672a\u898b\u904e\u5ea6\u64c1\u64e0\u3002<\/p>\n<p>\u4ed6\u88dc\u5145\uff0c\u7f8e\u5143\u6307\u6578\uff08DXY\uff0c\u7528\u4f86\u8861\u91cf\u7f8e\u5143\u514c\u4e00\u7c43\u5b50\u4e3b\u8981\u8ca8\u5e63\u7684\u5f37\u5f31\uff09\u4e00\u76f4\u5b88\u5728\u7d0498.00\u9644\u8fd1\uff0c\u4f46\u73fe\u8ca8\uff08\u5373\u5373\u6642\u6210\u4ea4\u7684\u532f\u50f9\uff09\u8d70\u52e2\u770b\u8d77\u4f86\u6bd4\u6301\u5009\u53cd\u6620\u7684\u66f4\u5f31\u3002\u4ed6\u63d0\u5230\uff0c\u591a\u9805\u5c31\u696d\u6578\u64da\u6216\u652f\u63014\u6708\u975e\u8fb2\u8868\u73fe\u5f37\u65bc\u5e02\u5834\u5171\u8b58\u9810\u6e2c\u7684+6.5\u842c\u3002<\/p>\n<h3>\u52de\u52d5\u5e02\u5834\u6307\u6a19\u6216\u504f\u5411\u5229\u597d<\/h3>\n<p>4\u6708\u521d\u6b21\u7533\u9818\u5931\u696d\u6551\u6fdf\u91d1\u4eba\u6578\uff08\u9996\u6b21\u7533\u8acb\u5931\u696d\u91d1\u7684\u4eba\u6578\uff09\u5e73\u5747\u7d0420.3\u842c\uff0c\u8f033\u6708\u768420.9\u842c\u56de\u843d\u3002ADP\u5831\u544a\uff08\u6c11\u9593\u6a5f\u69cb\u7d71\u8a08\u7684\u79c1\u4eba\u4f01\u696d\u5c31\u696d\u8b8a\u5316\uff09\u986f\u793a\u79c1\u4eba\u5e02\u5834\u62db\u8058\u52a0\u5feb\uff1b\u540c\u6642\uff0cISM\u670d\u52d9\u696d\u5c31\u696d\u6307\u6578\uff08\u63a1\u8cfc\u7d93\u7406\u8abf\u67e5\u4e2d\u7684\u5c31\u696d\u5206\u9805\uff0c\u53cd\u6620\u670d\u52d9\u696d\u62db\u8058\u610f\u6b32\uff09\u753145.2\u5347\u81f348.0\u3002<\/p>\n<p>\u4ed6\u8868\u793a\uff0c\u4e0a\u8ff0\u7d44\u5408\u4ee4\u975e\u8fb2\u7d50\u679c\u300c\u504f\u5411\u4e0a\u884c\u300d\uff0c\u6709\u5229\u7f8e\u5143\u3002\u4e0d\u904e\uff0c\u4ed6\u88dc\u5145\uff0c\u7f8e\u570b\u5229\u7387\u9810\u671f\uff08\u5e02\u5834\u5c0d\u806f\u5132\u5c40\u653f\u7b56\u5229\u7387\u8d70\u5411\u7684\u770b\u6cd5\uff09\u51fa\u73fe\u660e\u986f\u300c\u8f49\u9df9\u300d\uff08hawkish\uff0c\u5373\u66f4\u50be\u5411\u52a0\u606f\u6216\u7dad\u6301\u9ad8\u606f\u3001\u66f4\u91cd\u8996\u901a\u8139\u98a8\u96aa\uff09\u7684\u53ef\u80fd\u6027\u4ecd\u4f4e\uff0c\u6216\u9650\u5236\u6578\u64da\u5f8c\u7f8e\u5143\u7684\u9032\u4e00\u6b65\u5347\u5e45\u3002<\/p>\n<p>\u6700\u65b0\u76844\u6708\u5c31\u696d\u5831\u544a\u4ea6\u9ad8\u65bc\u9810\u671f\uff0c\u65b0\u589e\u8077\u4f4d24\u842c\uff0c\u5e02\u5834\u5171\u8b58\u70ba18\u842c\uff0c\u4ee4\u7f8e\u5143\u6307\u6578\u7dad\u6301\u5728\u7d04105.50\u6c34\u5e73\u3002\u7136\u800c\uff0c\u6211\u5011\u8a8d\u70ba\uff0c\u672a\u4f86\u6578\u5468\u7531\u6b64\u6578\u64da\u5e36\u4f86\u7684\u984d\u5916\u7f8e\u5143\u5347\u52e2\u6216\u6709\u9650\u3002<\/p>\n<p>\u85aa\u8cc7\u589e\u9577\u4ea6\u504f\u5f37\uff0c\u6309\u5e74\u53474.0%\uff0c\u4f46\u4ecd\u4e0d\u8db3\u4ee5\u4ee4\u806f\u5132\u5c40\u51fa\u73fe\u91cd\u5927\u7684\u300c\u8f49\u9df9\u300d\u3002\u5e02\u5834\u65e9\u5df2\u53cd\u6620\u4eca\u5e74\u6e1b\u606f\u6b65\u4f10\u6703\u8f03\u6162\u3002\u55ae\u9760\u9019\u4efd\u5831\u544a\u5927\u5e45\u91cd\u4f30\u5229\u7387\u9810\u671f\u7684\u6a5f\u6703\u4e0d\u5927\u3002<\/p>\n<h3>\u7f8e\u5143\u6216\u7dad\u6301\u5340\u9593\u4e0a\u843d<\/h3>\n<p>\u76ee\u524d\u5e02\u6cc1\u82072025\u5e74\u590f\u5b63\u4e0d\u540c\uff0c\u7576\u6642\u985e\u4f3c\u7684\u5c31\u696d\u5831\u544a\u66fe\u5f15\u767c\u7f8e\u5143\u5927\u5347\u3002\u7576\u5e74\u5e02\u5834\u5c0d\u901a\u8139\u7684\u6182\u616e\u66f4\u5f37\uff0c\u53cd\u61c9\u4ea6\u66f4\u6fc0\u9032\u3002\u73fe\u6642\u5e02\u5834\u4f3c\u4e4e\u66f4\u80fd\u63a5\u53d7\u806f\u5132\u5c40\u300c\u8010\u5fc3\u3001\u8996\u6578\u64da\u800c\u5b9a\u300d\uff08\u5373\u6309\u7d93\u6fdf\u6578\u64da\u518d\u6c7a\u5b9a\u653f\u7b56\uff09\u7684\u505a\u6cd5\u3002<\/p>\n<p>\u5c0d\u884d\u751f\u5de5\u5177\uff08derivatives\uff0c\u5373\u4ee5\u532f\u7387\u3001\u5229\u7387\u7b49\u4f5c\u70ba\u57fa\u790e\u8cc7\u7522\u7684\u91d1\u878d\u5408\u7d04\uff0c\u4f8b\u5982\u671f\u6b0a\u3001\u671f\u8ca8\uff09\u4ea4\u6613\u8005\u800c\u8a00\uff0c\u9019\u610f\u5473\u7f8e\u5143\u66f4\u53ef\u80fd\u5728\u300c\u5340\u9593\u300d\u5167\u6ce2\u52d5\uff0c\u800c\u975e\u5411\u4e0a\u7a81\u7834\u3002\u5728\u7f8e\u5143\u8ca8\u5e63\u5c0d\u6cbd\u51fa\uff08selling\uff09\u300c\u50f9\u5916\u300d\uff08out-of-the-money\uff0c\u5373\u884c\u4f7f\u50f9\u5c0d\u8cb7\u65b9\u4e0d\u5229\u3001\u77ed\u671f\u8f03\u96e3\u89f8\u767c\u7684\uff09\u8a8d\u8cfc\u671f\u6b0a\uff08call option\uff0c\u5373\u8cb7\u65b9\u6709\u6b0a\u5728\u6307\u5b9a\u50f9\u683c\u8cb7\u5165\uff09\u6216\u662f\u4e00\u500b\u53ef\u884c\u7b56\u7565\uff0c\u5229\u7528\u4e0a\u5347\u7a7a\u9593\u53d7\u9650\uff0c\u4ee5\u53ca\u6ce2\u5e45\uff08volatility\uff0c\u5373\u50f9\u683c\u8d77\u4f0f\u7a0b\u5ea6\uff09\u53ef\u80fd\u56de\u843d\u7684\u74b0\u5883\u3002\u9019\u7a2e\u5e02\u6cc1\u91cd\u9ede\u4e0d\u5728\u65b9\u5411\uff0c\u800c\u5728\u76ee\u524d\u4ea4\u6613\u5340\u9593\u7684\u4e0a\u4e0b\u754c\u3002<\/p>\n<p>\u4e0a\u6708\u7684\u9818\u5148\u6307\u6a19\uff08leading indicators\uff0c\u5373\u8f03\u65e9\u53cd\u6620\u8da8\u52e2\u7684\u6578\u64da\uff09\u4ea6\u652f\u6301\u6b64\u770b\u6cd5\uff0c\u4f8b\u5982\u521d\u6b21\u7533\u9818\u5931\u696d\u6551\u6fdf\u91d1\u4eba\u6578\u5927\u81f4\u7a69\u5b9a\u5728\u7d0421.5\u842c\uff0c\u986f\u793a\u52de\u52d5\u5e02\u5834\u7a69\u5065\u4f46\u672a\u6709\u52a0\u901f\u5230\u8feb\u4f7f\u806f\u5132\u5c40\u8003\u616e\u52a0\u606f\u7684\u7a0b\u5ea6\u3002\u9019\u500b\u80cc\u666f\u66ab\u6642\u6709\u52a9\u5916\u532f\u5e02\u5834\u907f\u514d\u51fa\u73fe\u904e\u5927\u6ce2\u52d5\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4e09\u83f1\u65e5\u806f\u91d1\u878d\u96c6\u5718\u9673\u840a\u5fb7\u6307\u51fa\uff0c\u7f8e\u570b\u975e\u8fb2\u5c31\u696d\u6578\u64da\u6216\u5c0f\u5e45\u63d0\u632f\u7f8e\u5143\uff1b\u52de\u52d5\u5e02\u5834\u6307\u6a19\u6697\u793a4\u6708\u6578\u64da\u6216\u66f4\u5f37\uff0c\u5e02\u5834\u6216\u518d\u5ea6\u62bc\u6ce8\u7f8e\u5143\u53cd\u5f48\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-47032","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\/47032","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=47032"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts\/47032\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/media?parent=47032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/categories?post=47032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/tags?post=47032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}