{"id":44602,"date":"2026-04-14T12:52:12","date_gmt":"2026-04-14T12:52:12","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e8%a5%bf%e7%8f%ad%e7%89%999%e4%b8%aa%e6%9c%88%e6%9c%9f%e5%9b%bd%e5%ba%93%e5%88%b8%e6%8b%8d%e5%8d%96%e6%94%b6%e7%9b%8a%e7%8e%87%e5%8d%87%e8%87%b32-461%ef%bc%8c%e9%ab%98%e4%ba%8e%e6%ad%a4%e5%89%8d\/"},"modified":"2026-04-14T12:52:12","modified_gmt":"2026-04-14T12:52:12","slug":"%e8%a5%bf%e7%8f%ad%e7%89%999%e4%b8%aa%e6%9c%88%e6%9c%9f%e5%9b%bd%e5%ba%93%e5%88%b8%e6%8b%8d%e5%8d%96%e6%94%b6%e7%9b%8a%e7%8e%87%e5%8d%87%e8%87%b32-461%ef%bc%8c%e9%ab%98%e4%ba%8e%e6%ad%a4%e5%89%8d","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/%e8%a5%bf%e7%8f%ad%e7%89%999%e4%b8%aa%e6%9c%88%e6%9c%9f%e5%9b%bd%e5%ba%93%e5%88%b8%e6%8b%8d%e5%8d%96%e6%94%b6%e7%9b%8a%e7%8e%87%e5%8d%87%e8%87%b32-461%ef%bc%8c%e9%ab%98%e4%ba%8e%e6%ad%a4%e5%89%8d\/","title":{"rendered":"\u897f\u73ed\u72599\u4e2a\u6708\u671f\u56fd\u5e93\u5238\u62cd\u5356\u6536\u76ca\u7387\u5347\u81f32.461%\uff0c\u9ad8\u4e8e\u6b64\u524d\u76842.164%\uff08\u6700\u65b0\u7ed3\u679c\uff09"},"content":{"rendered":"<p>\u897f\u73ed\u72599\u4e2a\u6708\u671fLetras\uff08\u77ed\u671f\u56fd\u5e93\u5238\uff09\u62cd\u5356\u6536\u76ca\u7387\u4ece\u4e0a\u4e00\u8f6e\u76842.164%\u4e0a\u5347\u81f32.461%\u3002<\/p>\n<p>\u8fd9\u610f\u5473\u7740\u897f\u73ed\u7259\u653f\u5e9c\u8fd9\u7c7b\u77ed\u671f\u501f\u6b3e\u7684\u878d\u8d44\u6210\u672c\u6bd4\u4e0a\u6b21\u66f4\u9ad8\u3002<\/p>\n<h3>\u5e02\u573a\u5b9a\u4ef7\u8f6c\u5411\u66f4\u504f\u201c\u9e70\u6d3e\u201d<\/h3>\n<p>\u897f\u73ed\u72599\u4e2a\u6708\u671fLetras\u6536\u76ca\u7387\u8fd1\u65e5\u8df3\u5347\u81f32.461%\uff0c\u5bf9\u6211\u4eec\u6765\u8bf4\u662f\u4e00\u4e2a\u91cd\u8981\u4fe1\u53f7\u3002\u8fd9\u663e\u793a\u5e02\u573a\u6b63\u66f4\u6fc0\u8fdb\u5730\u62bc\u6ce8\u6b27\u6d32\u592e\u884c\uff08ECB\uff0c\u6b27\u5143\u533a\u7684\u4e2d\u592e\u94f6\u884c\uff09\u4f1a\u91c7\u53d6\u66f4\u201c\u9e70\u6d3e\u201d\uff08hawkish\uff1a\u66f4\u503e\u5411\u52a0\u606f\u3001\u6216\u7ef4\u6301\u9ad8\u5229\u7387\u4ee5\u538b\u5236\u901a\u80c0\uff09\u7684\u7acb\u573a\u3002\u77ed\u671f\u5229\u7387\u9884\u671f\u88ab\u4e0a\u8c03\uff0c\u6211\u4eec\u63a5\u4e0b\u6765\u51e0\u5468\u9700\u8981\u636e\u6b64\u8c03\u6574\u7b56\u7565\u3002<\/p>\n<p>\u8fd9\u4e00\u8d70\u52bf\u4e5f\u5f97\u5230\u6700\u65b0\u6b27\u5143\u533aHICP\u6570\u636e\u7684\u652f\u6301\u3002HICP\uff08\u534f\u8c03\u6d88\u8d39\u8005\u7269\u4ef7\u6307\u6570\uff1a\u6b27\u76df\u7edf\u4e00\u53e3\u5f84\u7684\u901a\u80c0\u6307\u6807\uff09\u6570\u636e\u663e\u793a\uff0c\u6838\u5fc3\u901a\u80c0\uff08core inflation\uff1a\u5254\u9664\u80fd\u6e90\u4e0e\u98df\u54c1\u7b49\u6ce2\u52a8\u8f83\u5927\u7684\u9879\u76ee\uff0c\u66f4\u80fd\u53cd\u6620\u957f\u671f\u901a\u80c0\u8d8b\u52bf\uff09\u57282026\u5e743\u6708\u610f\u5916\u56de\u5347\u81f33.1%\u3002\u8fd9\u51b2\u51fb\u4e862025\u5e74\u5e02\u573a\u666e\u904d\u8ba4\u4e3a\u201c\u901a\u80c0\u538b\u529b\u5df2\u53d7\u63a7\u201d\u7684\u770b\u6cd5\u3002\u76ee\u524d\u5e02\u573a\u6b63\u6025\u7740\u91cd\u65b0\u4fee\u6b63\u5bf9\u5168\u5e74\u5229\u7387\u4e0e\u901a\u80c0\u7684\u9884\u6d4b\u3002<\/p>\n<p>\u7b56\u7565\u4e0a\uff0c\u53ef\u8003\u8651\u5728\u77ed\u671f\u9650\u6b27\u5143\u5229\u7387\u6389\u671f\uff08interest rate swap\uff1a\u53cc\u65b9\u4ea4\u6362\u5229\u606f\u652f\u4ed8\u65b9\u5f0f\u7684\u5408\u7ea6\uff0c\u5e38\u89c1\u662f\u201c\u56fa\u5b9a\u5229\u7387\u201d\u5bf9\u201c\u6d6e\u52a8\u5229\u7387\u201d\uff09\u4e2d\u201c\u4ed8\u56fa\u5b9a\u201d\uff08pay fixed\uff1a\u652f\u4ed8\u56fa\u5b9a\u5229\u7387\u3001\u6536\u53d6\u6d6e\u52a8\u5229\u7387\uff0c\u901a\u5e38\u5728\u9884\u671f\u5229\u7387\u4e0a\u5347\u65f6\u53d7\u76ca\uff09\u3002\u6b64\u5916\uff0c\u4e5f\u53ef\u8003\u8651\u505a\u7a7a\u5fb7\u56fd\u56fd\u503a\u671f\u8d27\uff08German Bund futures\uff1a\u4ee5\u5fb7\u56fd\u957f\u671f\u56fd\u503a\u4e3a\u6807\u7684\u7684\u671f\u8d27\u5408\u7ea6\uff1b\u505a\u7a7a\u4ee3\u8868\u62bc\u6ce8\u503a\u5238\u4ef7\u683c\u4e0b\u8dcc\u3001\u6536\u76ca\u7387\u4e0a\u5347\uff09\uff0c\u4f5c\u4e3a\u5bf9\u6b27\u5143\u533a\u6838\u5fc3\u503a\u5e02\u504f\u7a7a\u7684\u65b9\u5411\u6027\u4ea4\u6613\u3002\u8fd9\u4e9b\u4ed3\u4f4d\u53cd\u6620\u7684\u6838\u5fc3\u89c2\u70b9\u662f\uff1aECB\u53ef\u80fd\u6bd4\u5e02\u573a\u6b64\u524d\u9884\u671f\u66f4\u65e9\u884c\u52a8\u3002<\/p>\n<p>\u8fd9\u4e00\u5c40\u9762\u8ba9\u4eba\u60f3\u8d772022\u5e74\u7684\u5feb\u901f\u653f\u7b56\u8f6c\u5411\u3002\u5f53\u65f6\u901a\u80c0\u5347\u6e29\u540e\uff0cECB\u52a0\u606f\u901f\u5ea6\u8d85\u51fa\u4e0d\u5c11\u4eba\u7684\u9884\u671f\u3002\u5386\u53f2\u7ecf\u9a8c\u663e\u793a\uff0c\u4e00\u65e6\u592e\u884c\u5728\u63a7\u5236\u901a\u80c0\u4e0a\u201c\u843d\u540e\u5f62\u52bf\u201d\uff08behind the curve\uff1a\u653f\u7b56\u53cd\u5e94\u6162\u4e8e\u901a\u80c0\u53d8\u5316\uff09\uff0c\u540e\u7eed\u8865\u6551\u5f80\u5f80\u4f1a\u66f4\u5feb\u3001\u66f4\u660e\u663e\u3002<\/p>\n<p>\u5229\u7387\u6ce2\u52a8\u7387\uff08interest rate volatility\uff1a\u5229\u7387\u4e0a\u4e0b\u6ce2\u52a8\u7684\u5e45\u5ea6\uff09\u4e0a\u5347\u4e5f\u53ef\u80fd\u53d1\u751f\uff0c\u4ece\u800c\u5728\u671f\u6743\u5e02\u573a\u5e26\u6765\u673a\u4f1a\u3002\u6211\u4eec\u6b63\u5728\u8bc4\u4f30\u4e70\u5165\u4e09\u4e2a\u6708Euribor\uff08\u6b27\u5143\u94f6\u884c\u540c\u4e1a\u62c6\u501f\u5229\u7387\uff1a\u6b27\u5143\u533a\u5e38\u7528\u7684\u77ed\u671f\u57fa\u51c6\u5229\u7387\uff09\u671f\u8d27\u3001\u5230\u671f\u57282026\u5e74\u5e95\u7684\u8de8\u5f0f\u671f\u6743\uff08straddle\uff1a\u540c\u65f6\u4e70\u5165\u540c\u5230\u671f\u3001\u540c\u884c\u6743\u4ef7\u7684\u770b\u6da8\u4e0e\u770b\u8dcc\u671f\u6743\uff0c\u62bc\u6ce8\u4ef7\u683c\/\u5229\u7387\u4f1a\u51fa\u73b0\u5927\u5e45\u6ce2\u52a8\uff0c\u4e0d\u5fc5\u5224\u65ad\u65b9\u5411\uff09\u3002\u5728\u5f53\u524d\u4e0d\u786e\u5b9a\u6027\u4e0b\uff0c\u5229\u7387\u51fa\u73b0\u5927\u5e45\u53d8\u52a8\u7684\u6982\u7387\u4e0d\u4f4e\uff0c\u8be5\u7b56\u7565\u6709\u673a\u4f1a\u53d7\u76ca\u3002<\/p>\n<h3>\u5bf9\u5916\u6c47\uff08FX\uff09\u4ed3\u4f4d\u7684\u5f71\u54cd<\/h3>\n<p>\u66f4\u9ad8\u7684\u6536\u76ca\u7387\u9884\u671f\u901a\u5e38\u4f1a\u4e3a\u6b27\u5143\u5bf9\u5176\u4ed6\u4e3b\u8981\u8d27\u5e01\u5e26\u6765\u652f\u6491\u3002\u56e0\u6b64\uff0c\u6211\u4eec\u8003\u8651\u5efa\u7acbEUR\/USD\uff08\u6b27\u5143\u5151\u7f8e\u5143\uff09\u591a\u5934\u4ed3\u4f4d\uff0c\u76ee\u524d\u6c47\u4ef7\u57281.10\u9644\u8fd1\u3002\u4e70\u5165\u770b\u6da8\u671f\u6743\uff08call options\uff1a\u5728\u5230\u671f\u524d\u4ee5\u7ea6\u5b9a\u4ef7\u683c\u4e70\u5165\u7684\u6743\u5229\uff09\u53ef\u7528\u8f83\u5c11\u8d44\u91d1\u8868\u8fbe\u770b\u591a\u89c2\u70b9\uff0c\u5e76\u628a\u6700\u5927\u4e8f\u635f\u9650\u5236\u5728\u6743\u5229\u91d1\u4e4b\u5185\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u897f\u73ed\u72599\u4e2a\u6708\u56fd\u5e93\u5238\u6536\u76ca\u7387\u8df3\u5347\u81f32.461%\uff0c\u878d\u8d44\u6210\u672c\u62ac\u9ad8\uff0c\u5e02\u573a\u8f6c\u5411\u62bc\u6ce8ECB\u66f4\u9e70\u6d3e\u3002\u7b56\u7565\u5173\u6ce8\u6b27\u5143\u5229\u7387\u6389\u671f\u4ed8\u56fa\u5b9a\u3001\u505a\u7a7a\u5fb7\u503a\u671f\u8d27\uff0c\u6b27\u5143\u6216\u83b7\u652f\u6491\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-44602","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\/44602","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=44602"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/44602\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/media?parent=44602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/categories?post=44602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/tags?post=44602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}