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\n\n<h3>\u5e02\u573a\u5b9a\u4ef7\u5feb\u901f\u8c03\u6574<\/h3>\n\u5bf9\u884d\u751f\u54c1\u4ea4\u6613\u5458\u800c\u8a00\uff0c\u8fd9\u610f\u5473\u7740\u9700\u8981\u5c3d\u5feb\u5e73\u6389\u62bc\u6ce8\u77ed\u4e2d\u671f\u964d\u606f\u7684\u4ed3\u4f4d\u3002\u77ed\u671f\u82f1\u9551\u5229\u7387\u671f\u8d27\uff08short-sterling futures\uff0c\u7528\u4e8e\u4ea4\u6613\u82f1\u56fd\u77ed\u671f\u5229\u7387\u9884\u671f\u7684\u671f\u8d27\uff09\u51fa\u73b0\u660e\u663e\u629b\u552e\uff1b\u82f1\u56fd2\u5e74\u671f\u56fd\u503a\uff08gilt\uff0c\u82f1\u56fd\u653f\u5e9c\u503a\u5238\uff09\u6536\u76ca\u7387\u5df2\u8df3\u534725\u4e2a\u57fa\u70b9\uff08basis points\uff0c1\u4e2a\u57fa\u70b9=0.01\u4e2a\u767e\u5206\u70b9\uff09\uff0c\u53cd\u6620\u65b0\u9884\u671f\u3002\u9694\u591c\u6307\u6570\u6389\u671f\uff08OIS\uff0cOvernight Index Swap\uff0c\u7528\u9694\u591c\u5229\u7387\u8ba1\u4ef7\u3001\u5e38\u7528\u4e8e\u53cd\u6620\u653f\u7b56\u5229\u7387\u9884\u671f\u7684\u5229\u7387\u4e92\u6362\uff09\u5e02\u573a\u76ee\u524d\u663e\u793a\uff0c2027\u5e74\u524d\u51e0\u4e4e\u6ca1\u6709\u964d\u606f\u53ef\u80fd\u3002  \n\n\u8be5\u653f\u7b56\u7acb\u573a\u901a\u5e38\u5229\u597d\u82f1\u9551\uff0c\u56e0\u4e3a\u66f4\u9ad8\u7684\u6f5c\u5728\u6536\u76ca\u7387\u4f1a\u5438\u5f15\u56fd\u9645\u8d44\u91d1\u3002\u671f\u6743\uff08options\uff0c\u53ef\u5728\u672a\u6765\u4ee5\u7ea6\u5b9a\u4ef7\u683c\u4e70\u5356\u8d44\u4ea7\u7684\u5408\u7ea6\uff09\u7b56\u7565\u6216\u66f4\u504f\u5411\u82f1\u9551\u8d70\u5f3a\uff0c\u5c24\u5176\u5bf9\u6bd4\u592e\u884c\u66f4\u504f\u9e3d\u6d3e\uff08dovish\uff0c\u503e\u5411\u5bbd\u677e\u653f\u7b56\uff09\u7684\u8d27\u5e01\uff0c\u5982\u6b27\u5143\u6216\u745e\u58eb\u6cd5\u90ce\u3002\u82f1\u9551\/\u7f8e\u5143\uff08GBP\/USD\uff09\u9690\u542b\u6ce2\u52a8\u7387\uff08implied volatility\uff0c\u671f\u6743\u4ef7\u683c\u53cd\u6620\u7684\u672a\u6765\u6ce2\u52a8\u9884\u671f\uff09\u5347\u81f3\u4e09\u4e2a\u6708\u9ad8\u4f4d\uff0c\u663e\u793a\u4ea4\u6613\u5458\u6b63\u4e3a\u66f4\u5927\u6ce2\u52a8\u505a\u51c6\u5907\u3002  \n\n\u6211\u4eec\u57282022\u5e74\u4e5f\u89c1\u8fc7\u7c7b\u4f3c\u7684\u5229\u7387\u9884\u671f\u5feb\u901f\u91cd\u5b9a\u4ef7\uff0c\u5f53\u65f6\u5404\u56fd\u592e\u884c\u4e3a\u5e94\u5bf9\u75ab\u60c5\u540e\u901a\u80c0\u800c\u6fc0\u8fdb\u52a0\u606f\u3002\u5f53\u524d\u5173\u952e\u4ecd\u5728\u4e8e\u51b2\u51fb\u662f\u5426\u6301\u7eed\uff0c\u4ee5\u53ca\u5bf9\u5de5\u8d44\u589e\u957f\u7684\u5f71\u54cd\u3002\u63a5\u4e0b\u6765\u5e02\u573a\u5c06\u5173\u6ce8\u4e0b\u4e00\u4efd\u52b3\u52a8\u529b\u5e02\u573a\u62a5\u544a\uff0c\u89c2\u5bdf\u66f4\u9ad8\u80fd\u6e90\u6210\u672c\u662f\u5426\u6b63\u5f15\u53d1\u592e\u884c\u6700\u62c5\u5fc3\u7684\u201c\u7b2c\u4e8c\u8f6e\u6548\u5e94\u201d\u3002\n<p>\r\n\r\n<p><strong>\u7acb\u5373\u5f00\u59cb\u4ea4\u6613 &#8211; \u70b9\u51fb<a 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