{"id":44335,"date":"2026-04-10T09:58:14","date_gmt":"2026-04-10T09:58:14","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e5%be%b7%e5%9b%bd%e5%95%86%e4%b8%9a%e9%93%b6%e8%a1%8c%ef%bc%88commerzbank%ef%bc%89volkmar-baur%ef%bc%9a%e5%b8%82%e5%9c%ba%e7%84%a6%e7%82%b9%e9%87%8d%e5%9b%9e%e6%b2%b9%e4%bb%b7%e6%8e%a8\/"},"modified":"2026-04-10T09:58:14","modified_gmt":"2026-04-10T09:58:14","slug":"%e5%be%b7%e5%9b%bd%e5%95%86%e4%b8%9a%e9%93%b6%e8%a1%8c%ef%bc%88commerzbank%ef%bc%89volkmar-baur%ef%bc%9a%e5%b8%82%e5%9c%ba%e7%84%a6%e7%82%b9%e9%87%8d%e5%9b%9e%e6%b2%b9%e4%bb%b7%e6%8e%a8","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/%e5%be%b7%e5%9b%bd%e5%95%86%e4%b8%9a%e9%93%b6%e8%a1%8c%ef%bc%88commerzbank%ef%bc%89volkmar-baur%ef%bc%9a%e5%b8%82%e5%9c%ba%e7%84%a6%e7%82%b9%e9%87%8d%e5%9b%9e%e6%b2%b9%e4%bb%b7%e6%8e%a8\/","title":{"rendered":"\u5fb7\u56fd\u5546\u4e1a\u94f6\u884c\uff08Commerzbank\uff09Volkmar Baur\uff1a\u5e02\u573a\u7126\u70b9\u91cd\u56de\u201c\u6cb9\u4ef7\u63a8\u5347\u7f8e\u56fd\u901a\u80c0\u201d\uff0c\u7f8e\u5143\u8d70\u52bf\u4e0e\u7f8e\u8054\u50a8\u653f\u7b56\u8def\u5f84\u53d7\u5f71\u54cd"},"content":{"rendered":"<p>\u5916\u6c47\u5e02\u573a\u7684\u5173\u6ce8\u70b9\uff0c\u53ef\u80fd\u4f1a\u4ece\u6d77\u6e7e\u5730\u533a\u7d27\u5f20\u5c40\u52bf\uff0c\u8f6c\u5411\u66f4\u9ad8\u6cb9\u4ef7\u5982\u4f55\u5f71\u54cd\u7f8e\u56fd\u901a\u80c0\u4e0e\u7f8e\u5143\u3002<\/p>\n<p>\u5e02\u573a\u9884\u671f\uff0c\u7f8e\u56fd3\u6708\u901a\u80c0\u6570\u636e\u5c06\u663e\u793a\uff1a\u6d88\u8d39\u8005\u7269\u4ef7\u6307\u6570\uff08CPI\uff0c\u8861\u91cf\u4e00\u7bee\u5b50\u5546\u54c1\u4e0e\u670d\u52a1\u4ef7\u683c\u7684\u901a\u80c0\u6307\u6807\uff09\u6309\u6708\u4e0a\u6da80.9%\uff0c\u4f7f\u6309\u5e74\u589e\u5e45\u8fbe\u52303.4%\uff0c\u4e3a\u4e24\u5e74\u6765\u6700\u9ad8\u3002\u6838\u5fc3CPI\uff08\u5254\u9664\u6ce2\u52a8\u8f83\u5927\u7684\u98df\u54c1\u4e0e\u80fd\u6e90\u4ef7\u683c\uff0c\u66f4\u80fd\u53cd\u6620\u8d8b\u52bf\uff09\u9884\u8ba1\u6309\u6708\u4e0a\u6da80.3%\u3002<\/p>\n<h3>\u6cb9\u4ef7\u4e0e\u901a\u80c0\u6210\u7126\u70b9<\/h3>\n<p>\u8fdb\u4e00\u6b65\u7684\u901a\u80c0\u538b\u529b\uff0c\u53ef\u80fd\u66f4\u591a\u6765\u81ea\u67f4\u6cb9\u6210\u672c\u901a\u8fc7\u8d27\u8fd0\u8fd0\u8f93\u4f20\u5bfc\uff0c\u800c\u4e0d\u662f\u5bb6\u5ead\u7528\u6cb9\u3002\u7f8e\u56fd\u67f4\u6cb9\u4ef7\u683c\u4e0a\u6708\u4e0a\u6da832%\u3002<\/p>\n<p>\u7269\u6d41\u516c\u53f8\u5df2\u636e\u6b64\u4e0a\u8c03\u5361\u8f66\u8fd0\u8f93\u8fd0\u4ef7\u3002\u52303\u6708\u5e95\uff0c\u8fd0\u4ef7\u6bd42\u6708\u5e95\u9ad8\u51fa\u903e10%\u3002<\/p>\n<p>\u66f4\u9ad8\u7684\u8fd0\u8f93\u6210\u672c\u4f1a\u63a8\u9ad8\u5168\u7ecf\u6d4e\u8303\u56f4\u5185\u591a\u79cd\u5546\u54c1\u4ef7\u683c\u3002\u8fd9\u53ef\u80fd\u5f71\u54cd\u8054\u90a6\u50a8\u5907\u59d4\u5458\u4f1a\uff08Federal Reserve\uff0c\u7b80\u79f0\u7f8e\u8054\u50a8\uff0c\u7f8e\u56fd\u4e2d\u592e\u94f6\u884c\uff09\u7684\u5229\u7387\u51b3\u7b56\uff0c\u5e76\u5f71\u54cd\u7f8e\u5143\u3002<\/p>\n<h3>\u5bf9\u5229\u7387\u9884\u671f\u7684\u5e02\u573a\u542b\u4e49<\/h3>\n<p>\u76ee\u524dWTI\u539f\u6cb9\uff08\u897f\u5fb7\u5dde\u4e2d\u8d28\u539f\u6cb9\uff0c\u7f8e\u56fd\u4e3b\u8981\u539f\u6cb9\u57fa\u51c6\uff09\u5728\u6bcf\u687695\u7f8e\u5143\u9644\u8fd1\u4ea4\u6613\u3002\u672c\u5468\u516c\u5e03\u76842026\u5e743\u6708\u901a\u80c0\u6570\u636e\u663e\u793a\uff0cCPI\u4ecd\u7ef4\u6301\u57283.8%\u7684\u9ad8\u4f4d\u3002\u6700\u65b0\u7684\u8d27\u8fd0\u5361\u8f66\u8fd0\u8f93\u751f\u4ea7\u8005\u7269\u4ef7\u6307\u6570\uff08PPI\uff0c\u4e0a\u6e38\u51fa\u5382\/\u6279\u53d1\u7aef\u4ef7\u683c\u6307\u6807\uff0c\u5e38\u88ab\u89c6\u4e3a\u672a\u6765\u901a\u80c0\u7684\u9886\u5148\u4fe1\u53f7\uff09\u4e5f\u786e\u8ba4\u4e86\u8be5\u8d8b\u52bf\uff0c\u4e0a\u6708\u518d\u6da80.5%\u3002<\/p>\n<p>\u56e0\u6b64\uff0c\u7f8e\u8054\u50a8\u7ef4\u6301\u504f\u9e70\u6d3e\uff08hawkish\uff0c\u503e\u5411\u52a0\u606f\u6216\u7ef4\u6301\u9ad8\u5229\u7387\u4ee5\u538b\u5236\u901a\u80c0\uff09\u7684\u653f\u7b56\u7acb\u573a\u3002\u6700\u65b0CPI\u62a5\u544a\u540e\uff0c\u8054\u90a6\u57fa\u91d1\u5229\u7387\u671f\u8d27\uff08fed funds futures\uff0c\u7528\u4e8e\u53cd\u6620\u5e02\u573a\u5bf9\u7f8e\u8054\u50a8\u653f\u7b56\u5229\u7387\u9884\u671f\u7684\u5408\u7ea6\uff09\u76ee\u524d\u8ba1\u51657\u6708\u524d\u518d\u52a0\u606f\u4e00\u6b21\u7684\u6982\u7387\u4e3a60%\u3002\u8fd9\u4f7f\u7f8e\u5143\u6307\u6570\uff08DXY\uff0c\u8861\u91cf\u7f8e\u5143\u5151\u4e00\u7bee\u5b50\u4e3b\u8981\u8d27\u5e01\u5f3a\u5f31\uff09\u4fdd\u6301\u5f3a\u52bf\uff0c\u4ecd\u5728108\u9644\u8fd1\u3002<\/p>\n<p>\u672a\u6765\u6570\u5468\uff0c\u504f\u5411\u7f8e\u5143\u7ee7\u7eed\u8d70\u5f3a\u7684\u671f\u6743\u7b56\u7565\u6216\u66f4\u9002\u5408\uff0c\u5c24\u5176\u662f\u5bf9\u592e\u884c\u7acb\u573a\u66f4\u504f\u9e3d\u6d3e\uff08dovish\uff0c\u503e\u5411\u964d\u606f\u6216\u7ef4\u6301\u4f4e\u5229\u7387\u4ee5\u652f\u6301\u7ecf\u6d4e\uff09\u7684\u8d27\u5e01\uff0c\u5982\u6b27\u5143\u6216\u65e5\u5143\u3002\u6301\u7eed\u7684\u901a\u80c0\u98ce\u9669\u4e5f\u610f\u5473\u7740\uff1a\u539f\u6cb9\u671f\u8d27\u770b\u6da8\u671f\u6743\uff08call options\uff0c\u4e70\u65b9\u6709\u6743\u5728\u5230\u671f\u524d\u4ee5\u7ea6\u5b9a\u4ef7\u683c\u4e70\u5165\u6807\u7684\uff0c\u7528\u4e8e\u62bc\u6ce8\u4e0a\u6da8\u6216\u5bf9\u51b2\uff09\u6216\u80fd\u6e90\u7c7b\u4ea4\u6613\u6240\u4ea4\u6613\u57fa\u91d1\uff08ETF\uff0c\u5728\u4ea4\u6613\u6240\u4e70\u5356\u3001\u8ddf\u8e2a\u6307\u6570\/\u884c\u4e1a\u7684\u4e00\u7bee\u5b50\u57fa\u91d1\uff09\u53ef\u4f5c\u4e3a\u5bf9\u51b2\u80fd\u6e90\u4ef7\u683c\u518d\u5ea6\u4e0a\u51b2\u7684\u5de5\u5177\u3002\u4ea4\u6613\u8005\u4e5f\u5e94\u5bc6\u5207\u5173\u6ce8\u5229\u7387\u884d\u751f\u54c1\uff08interest rate derivatives\uff0c\u4e0e\u5229\u7387\u6302\u94a9\u7684\u91d1\u878d\u5408\u7ea6\uff0c\u7528\u4e8e\u5bf9\u51b2\u6216\u62bc\u6ce8\u5229\u7387\u53d8\u52a8\uff09\uff0c\u4ee5\u5e94\u5bf9\u7f8e\u8054\u50a8\u53ef\u80fd\u6bd4\u5e02\u573a\u9884\u671f\u66f4\u5f3a\u786c\u7684\u884c\u52a8\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u6cb9\u4ef7\u98d9\u5347\u8ba9\u5916\u6c47\u7126\u70b9\u8f6c\u5411\u901a\u80c0\uff1a\u67f4\u6cb9\u63a8\u9ad8\u8fd0\u8d39\u4e0e\u7269\u4ef7\uff0c3\u6708CPI\u6216\u521b\u65b0\u9ad8\uff1b\u5e02\u573a\u62bc\u6ce8\u7f8e\u8054\u50a8\u66f4\u9e70\uff0c\u7f8e\u5143\u6307\u6570\u5b88108\uff0c\u5173\u6ce8\u505a\u591a\u7f8e\u5143\u4e0e\u539f\u6cb9\u5bf9\u51b2\u3002<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[129],"tags":[],"class_list":["post-44335","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/44335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/comments?post=44335"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/44335\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/media?parent=44335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/categories?post=44335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/tags?post=44335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}