{"id":51184,"date":"2026-07-02T18:00:53","date_gmt":"2026-07-02T18:00:53","guid":{"rendered":"https:\/\/www.vtmarkets.com\/zh\/uncategorized\/51184\/"},"modified":"2026-07-02T18:00:53","modified_gmt":"2026-07-02T18:00:53","slug":"%e6%96%b0%e5%8a%a0%e5%9d%a1%e8%a3%bd%e9%80%a0%e6%a5%adpmi%e5%8d%87%e8%87%b351-3%ef%bc%8c%e5%a2%9e%e9%95%b7%e5%bb%b6%e7%ba%8c%e6%94%af%e6%8c%81%e6%96%b0%e5%85%83%e8%b5%b0%e5%bc%b7%e5%8f%8a%e6%b5%b7","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh\/live-updates\/51184\/","title":{"rendered":"\u65b0\u52a0\u5761\u88fd\u9020\u696dPMI\u5347\u81f351.3\uff0c\u589e\u9577\u5ef6\u7e8c\u652f\u6301\u65b0\u5143\u8d70\u5f37\u53ca\u6d77\u5cfd\u6642\u5831\u6307\u6578\u4e0a\u884c"},"content":{"rendered":"

\u65b0\u52a0\u5761\u88fd\u9020\u696d\u63a1\u8cfc\u7d93\u7406\u6307\u6578\uff08PMI\uff09\u65bc6\u6708\u75315\u6708\u768451\u5fae\u5347\u81f351.3\uff0c\u5ef6\u7e8c\u8655\u65bc\u64f4\u5f35\u5340\u9593\u3002\u8a72\u8b80\u6578\u7e7c\u7e8c\u9ad8\u65bc50\u7684\u76db\u8870\u5206\u754c\u7dda\uff0850\u4ee5\u4e0a\u4ee3\u8868\u589e\u9577\u300150\u4ee5\u4e0b\u4ee3\u8868\u6536\u7e2e\uff09\uff0c\u53cd\u6620\u884c\u696d\u6574\u9ad4\u7d93\u71df\u72c0\u6cc1\u6eab\u548c\u6539\u5584\u3002<\/p>\n

\u6307\u6578\u4e0a\u53470.3\u9ede\uff0c\u986f\u793a\u64f4\u5f35\u6b65\u4f10\u6309\u6708\u7565\u70ba\u52a0\u5feb\u3002\u5728\u6307\u6578\u7dad\u630150\u4ee5\u4e0a\u7684\u60c5\u6cc1\u4e0b\uff0c\u6578\u64da\u986f\u793a6\u6708\u7522\u51fa\u53ca\u6574\u9ad4\u6d3b\u52d5\u6301\u7e8c\u589e\u9577\uff0c\u4f46\u589e\u901f\u4ecd\u5c6c\u7a69\u5065\u3002<\/p>\n

\u7d93\u6fdf\u6d3b\u52d5\u589e\u5f37\u53ca\u532f\u7387\u5c55\u671b<\/h3>\n

\u6211\u5011\u8a8d\u70ba6\u6708\u88fd\u9020\u696dPMI\u583151.3\uff0c\u5370\u8b49\u7d93\u6fdf\u6d3b\u52d5\u6b63\u5728\u589e\u5f37\u3002\u9019\u662f\u9023\u7e8c\u7b2c\u56db\u500b\u6708\u9304\u5f97\u64f4\u5f35\uff0c\u4ea6\u662f\u903e\u4e00\u5e74\u4f86\u6700\u5feb\u7684\u589e\u9577\u901f\u5ea6\u3002\u6578\u64da\u986f\u793a\u7d93\u6fdf\u6b63\u5728\u5efa\u7acb\u66f4\u624e\u5be6\u7684\u57fa\u790e\uff0c\u6709\u671b\u8d70\u51fa\u8106\u5f31\u5fa9\u7526\u968e\u6bb5\u3002<\/p>\n

\u9019\u9805\u6b63\u9762\u7684\u672c\u5730\u6578\u64da\uff0c\u9032\u4e00\u6b65\u652f\u6301\u6211\u5011\u5c0d\u672a\u4f86\u6578\u661f\u671f\u65b0\u52a0\u5761\u5143\u8d70\u5f37\u7684\u770b\u6cd5\u3002\u65b0\u52a0\u5761\u91d1\u878d\u7ba1\u7406\u5c40\uff08MAS\uff09\u4e0b\u6b21\u4f8b\u6703\u8981\u523010\u6708\u624d\u53ec\u958b\uff0c\u800c\u7d93\u6fdf\u6539\u5584\u8da8\u52e2\u70ba\u5176\u7dad\u6301\u300c\u5faa\u5e8f\u6f38\u9032\u7684\u532f\u7387\u5347\u503c\u300d\u653f\u7b56\u63d0\u4f9b\u5145\u5206\u7406\u7531\u3002\u6211\u5011\u5c07\u7559\u610f\u77ed\u671f\u671f\u6b0a\u7b49\u884d\u751f\u5de5\u5177\u90e8\u7f72\uff0c\u628a\u63e1\u65b0\u52a0\u5761\u5143\u514c\u7f8e\u5143\u8d70\u5f37\u7684\u6a5f\u6703\uff0c\u5c24\u5176\u5728\u8fd1\u671f\u7f8e\u570b\u901a\u8139\u6578\u64da\u51fa\u73fe\u964d\u6eab\u8de1\u8c61\u4e4b\u969b\u3002<\/p>\n

\u5e02\u5834\u7b56\u7565\u8207\u98a8\u96aa\u7ba1\u7406<\/h3>\n

\u5c31\u80a1\u7968\u5e02\u5834\u800c\u8a00\uff0c\u9019\u662f\u4e00\u500b\u660e\u78ba\u8a0a\u865f\uff0c\u53ef\u7559\u610f\u6d77\u5cfd\u6642\u5831\u6307\u6578\uff08STI\uff09\u7684\u8a8d\u8cfc\u671f\u6b0a\uff08call options\uff09\u3002\u88fd\u9020\u696d\uff08\u5c24\u5176\u96fb\u5b50\u696d\uff09\u662f\u6307\u6578\u7684\u91cd\u8981\u63a8\u52d5\u529b\uff0c\u800c\u8a72PMI\u8b80\u6578\u4ea6\u7372\u6700\u65b0\u653f\u5e9c\u6578\u64da\u652f\u6301\uff1a2026\u5e745\u6708\u5de5\u696d\u751f\u7522\u6309\u5e74\u589e\u95776.2%\u3002\u6211\u5011\u8a8d\u70ba\u6b64\u52d5\u80fd\u4ee48\u6708\u5230\u671f\u7684\u50f9\u5916\u8a8d\u8cfc\u671f\u6b0a\uff08out-of-the-money calls\uff09\u6210\u70ba\u4e00\u7a2e\u6210\u672c\u8f03\u4f4e\u3001\u7528\u4ee5\u6355\u6349\u4e0a\u884c\u7a7a\u9593\u7684\u5438\u5f15\u90e8\u7f72\u65b9\u5f0f\u3002<\/p>\n

\u6b77\u53f2\u4e0a\uff0c\u65b0\u52a0\u5761PMI\u8b80\u6578\u52a0\u901f\u4e0a\u5347\u7684\u6642\u671f\uff08\u5982\u672a\u88ab\u5168\u7403\u6027\u5371\u6a5f\u62b5\u6d88\uff09\uff0c\u5f80\u5f80\u9810\u793aSTI\u5728\u5176\u5f8c\u5169\u500b\u6708\u51fa\u73fe\u7d043%\u81f35%\u7684\u5347\u5e45\u30022023\u5e74\u4e0b\u534a\u5e74\u4ea6\u66fe\u51fa\u73fe\u985e\u4f3c\u8d70\u52e2\uff0c\u4e26\u5e36\u52d5\u5e02\u5834\u6301\u7e8c\u4e0a\u63da\u3002\u6211\u5011\u6b63\u90e8\u7f72\u65bc\u590f\u5b63\u91cd\u73fe\u8a72\u8868\u73fe\u3002<\/p>\n

\u5118\u7ba1\u672c\u5730\u57fa\u672c\u9762\u6539\u5584\uff0c\u6211\u5011\u4ecd\u9700\u5c0d\u5916\u90e8\u98a8\u96aa\u4f5c\u51fa\u5c0d\u6c96\u3002\u5730\u7de3\u653f\u6cbb\u7dca\u5f35\u5c40\u52e2\u6216\u6301\u7e8c\u5f15\u767c\u7684\u4f9b\u61c9\u93c8\u5e72\u64fe\u3001\u4ee5\u53ca\u4e2d\u570b\u7d93\u6fdf\u7a81\u7136\u653e\u7de9\uff0c\u5747\u53ef\u80fd\u8fc5\u901f\u6539\u8b8a\u4e0a\u8ff0\u5c55\u671b\u3002\u56e0\u6b64\uff0c\u6211\u5011\u5c07\u628a\u504f\u597d\uff08bullish\uff09\u5009\u4f4d\u8207\u500b\u5225\u51fa\u53e3\u5c0e\u5411\u80a1\u7968\u7684\u4fdd\u8b77\u6027\u8a8d\u6cbd\u671f\u6b0a\uff08protective puts\uff09\u914d\u5c0d\uff0c\u4ee5\u964d\u4f4e\u53d7\u5168\u7403\u8cbf\u6613\u8b8a\u5316\u5f71\u97ff\u8f03\u5927\u7684\u6a19\u7684\u4e4b\u4e0b\u884c\u98a8\u96aa\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":"

\u65b0\u52a0\u57616\u6708\u88fd\u9020\u696dPMI\u5347\u81f351.3\uff0c\u9023\u7e8c\u56db\u6708\u64f4\u5f35\u517c\u903e\u4e00\u5e74\u6700\u5feb\uff1b\u6599\u652f\u6301\u65b0\u5143\u8d70\u5f37\u3001MAS\u7e8c\u5faa\u5e8f\u6f38\u9032\u5347\u503c\u3002\u7b56\u7565\uff1aSTI\u50f9\u5916Call\u6355\u5347\uff0c\u914d\u51fa\u53e3\u80a1Protective Put\u5c0d\u6c96\u5916\u570d\u98a8\u96aa\u3002<\/p>\n","protected":false},"author":87,"featured_media":50601,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-51184","post","type-post","status-publish","format-standard","has-post-thumbnail","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\/51184","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=51184"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts\/51184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/media\/50601"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/media?parent=51184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/categories?post=51184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/tags?post=51184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}