{"id":44957,"date":"2026-04-17T16:22:53","date_gmt":"2026-04-17T16:22:53","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/dbs%e9%bb%84%e6%80%9d%e6%b1%89%e7%a7%b0%e6%ac%a7%e5%85%83%e5%85%91%e7%be%8e%e5%85%83%e6%94%80%e5%8d%87%e5%90%8e%e5%9c%a81-18%e4%b8%8b%e6%96%b9%e5%8f%97%e9%98%bb%ef%bc%8c%e5%9b%a0%e6%ac%a7%e6%b4%b2\/"},"modified":"2026-04-17T16:22:53","modified_gmt":"2026-04-17T16:22:53","slug":"dbs%e9%bb%84%e6%80%9d%e6%b1%89%e7%a7%b0%e6%ac%a7%e5%85%83%e5%85%91%e7%be%8e%e5%85%83%e6%94%80%e5%8d%87%e5%90%8e%e5%9c%a81-18%e4%b8%8b%e6%96%b9%e5%8f%97%e9%98%bb%ef%bc%8c%e5%9b%a0%e6%ac%a7%e6%b4%b2","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/dbs%e9%bb%84%e6%80%9d%e6%b1%89%e7%a7%b0%e6%ac%a7%e5%85%83%e5%85%91%e7%be%8e%e5%85%83%e6%94%80%e5%8d%87%e5%90%8e%e5%9c%a81-18%e4%b8%8b%e6%96%b9%e5%8f%97%e9%98%bb%ef%bc%8c%e5%9b%a0%e6%ac%a7%e6%b4%b2\/","title":{"rendered":"DBS\u9ec4\u601d\u6c49\u79f0\u6b27\u5143\u5151\u7f8e\u5143\u6500\u5347\u540e\u57281.18\u4e0b\u65b9\u53d7\u963b\uff0c\u56e0\u6b27\u6d32\u592e\u884c\u6253\u538b4\u6708\u52a0\u606f\u9884\u671f"},"content":{"rendered":"

EUR\/USD \u4e0a\u6da8\u6682\u65f6\u505c\u987f\uff0c\u8fde\u7eed\u4e09\u4e2a\u4ea4\u6613\u65e5\u90fd\u672a\u80fd\u7a81\u7834 1.18\u3002\u6b27\u6d32\u592e\u884c\u5df2\u53cd\u9a73\u5e02\u573a\u5bf9 4 \u6708 29 \u65e5\u7406\u4e8b\u4f1a\u4f1a\u8bae\u52a0\u606f\u7684\u9884\u671f\u3002<\/p>\n

\u6b27\u5143\u533a\u589e\u957f\u9884\u6d4b\u5df2\u88ab\u4e0b\u8c03\uff0c\u4f46\u4ecd\u9ad8\u4e8e\u6b27\u6d32\u592e\u884c\u5458\u5de5\uff08\u5185\u90e8\u7814\u7a76\u56e2\u961f\uff09\u7684\u57fa\u51c6\u9884\u6d4b\u3002\u56fd\u9645\u8d27\u5e01\u57fa\u91d1\u7ec4\u7ec7\uff08IMF\uff09\u628a 2026 \u5e74\u6b27\u5143\u533a\u589e\u957f\u9884\u6d4b\u4ece 1.3% \u4e0b\u8c03\u81f3 1.1%\u3002<\/p>\n

\u6b27\u5143\u4e0e\u82f1\u9551\u5bf9\u7f8e\u5143\u7684\u56de\u5347<\/h3>\n

\u6b27\u5143\u4e0e\u82f1\u9551\u5bf9\u7f8e\u5143\u4ecd\u88ab\u5f62\u5bb9\u4e3a\u5904\u4e8e\u201c\u56de\u5347\u201d\u9636\u6bb5\u3002\u7f8e\u56fd\u8054\u90a6\u50a8\u5907\u5c40\uff08\u7f8e\u8054\u50a8\uff0cFederal Reserve\uff09\u6ca1\u6709\u5426\u8ba4\u5e02\u573a\u5bf9\u52a0\u606f\u7684\u9884\u671f\uff0c\u5e76\u4e3a\u4e0d\u63d0\u4f9b\u660e\u786e\u201c\u524d\u77bb\u6307\u5f15\u201d\uff08\u5373\u63d0\u524d\u8bf4\u660e\u672a\u6765\u5229\u7387\u8def\u5f84\u7684\u6c9f\u901a\u65b9\u5f0f\uff09\u7684\u505a\u6cd5\u8fa9\u62a4\uff0c\u7406\u7531\u662f\u5730\u7f18\u653f\u6cbb\u4e0d\u786e\u5b9a\u6027\u4e0a\u5347\u3002<\/p>\n

EUR\/USD \u8fd9\u4e00\u8f6e\u5347\u52bf\u660e\u663e\u505c\u6ede\uff1a\u8fc7\u53bb\u4e00\u5468\u8fde\u7eed\u4e09\u4e2a\u4ea4\u6613\u65e5\u672a\u80fd\u7a81\u7834 1.1800 \u963b\u529b\u4f4d\uff08\u6280\u672f\u5206\u6790\u4e2d\uff0c\u4ef7\u683c\u5e38\u5728\u6b64\u9047\u5230\u5356\u538b\u7684\u4ef7\u4f4d\uff09\u3002\u5bf9\u884d\u751f\u54c1\u4ea4\u6613\u5458\u6765\u8bf4\uff0c\u5356\u51fa\u201c\u865a\u503c\u201d\u770b\u6da8\u671f\u6743\uff08out-of-the-money call\uff0c\u6307\u884c\u6743\u4ef7\u9ad8\u4e8e\u5f53\u524d\u4ef7\u683c\u3001\u77ed\u671f\u5185\u4e0d\u6613\u83b7\u5229\u7684\u770b\u6da8\u671f\u6743\uff09\uff0c\u5e76\u628a\u884c\u6743\u4ef7\u8bbe\u5728 1.18 \u4ee5\u4e0a\uff0c\u53ef\u80fd\u662f\u77ed\u7ebf\u6536\u53d6\u201c\u671f\u6743\u6743\u5229\u91d1\u201d\uff08premium\uff0c\u4e70\u65b9\u652f\u4ed8\u7ed9\u5356\u65b9\u7684\u8d39\u7528\uff09\u7684\u7b56\u7565\u3002\u8be5\u6c34\u5e73\u4e5f\u63a5\u8fd1\u91cd\u8981\u7684\u957f\u671f\u6280\u672f\u963b\u529b\uff0c\u56e0\u6b64\u5728\u7f3a\u4e4f\u91cd\u5927\u50ac\u5316\u56e0\u7d20\uff08\u80fd\u5f15\u53d1\u5927\u884c\u60c5\u7684\u4e8b\u4ef6\uff09\u4e0b\uff0c\u5411\u4e0a\u7a81\u7834\u7684\u673a\u4f1a\u4e0d\u9ad8\u3002<\/p>\n

\u9020\u6210\u505c\u6ede\u7684\u5173\u952e\u539f\u56e0\u4e4b\u4e00\u662f\u6b27\u6d32\u592e\u884c\u6b63\u4e3b\u52a8\u538b\u4f4e\u5e02\u573a\u5bf9 4 \u6708 29 \u65e5\u4f1a\u8bae\u52a0\u606f\u7684\u9884\u671f\u3002\u5f53\u524d\u201c\u9694\u591c\u6307\u6570\u6389\u671f\u201d\uff08OIS\uff0c\u53cd\u6620\u5e02\u573a\u5bf9\u672a\u6765\u77ed\u671f\u5229\u7387\u9884\u671f\u7684\u5229\u7387\u5408\u7ea6\uff09\u663e\u793a\uff0c\u672c\u6708\u52a0\u606f\u6982\u7387\u4e0d\u5230 15%\uff0c\u5f3a\u5316\u4e86\u6b27\u6d32\u592e\u884c\u504f\u201c\u9e3d\u6d3e\u201d\uff08\u503e\u5411\u7ef4\u6301\u6216\u964d\u4f4e\u5229\u7387\u3001\u652f\u6301\u7ecf\u6d4e\u7684\u7acb\u573a\uff09\u3002\u5728\u7f3a\u4e4f\u6536\u76ca\u7387\u4f18\u52bf\uff08\u5229\u7387\u66f4\u9ad8\u5e26\u6765\u7684\u8d44\u91d1\u5438\u5f15\u529b\uff09\u7684\u60c5\u51b5\u4e0b\uff0c\u6b27\u5143\u77ed\u671f\u5185\u8f83\u96be\u660e\u663e\u8d70\u5f3a\u3002<\/p>\n

\u653f\u7b56\u5206\u5316\u4e0e\u671f\u6743\u6ce2\u52a8\u7387<\/h3>\n

\u76f8\u5bf9\u4e4b\u4e0b\uff0c\u7f8e\u8054\u50a8\u6ca1\u6709\u538b\u5236\u5e02\u573a\u5bf9\u52a0\u606f\u7684\u5b9a\u4ef7\uff0c\u5f62\u6210\u660e\u663e\u7684\u201c\u653f\u7b56\u5206\u5316\u201d\uff08\u4e24\u5730\u592e\u884c\u5229\u7387\u65b9\u5411\u4e0d\u4e00\u81f4\uff09\u3002\u76ee\u524d\u201c\u8054\u90a6\u57fa\u91d1\u5229\u7387\u671f\u8d27\u201d\uff08Fed funds futures\uff0c\u7528\u4e8e\u62bc\u6ce8\/\u53cd\u6620\u7f8e\u8054\u50a8\u653f\u7b56\u5229\u7387\u9884\u671f\u7684\u671f\u8d27\uff09\u663e\u793a\uff0c5 \u6708\u4e0b\u6b21\u4f1a\u8bae\u52a0\u606f 25 \u4e2a\u57fa\u70b9\uff080.25 \u4e2a\u767e\u5206\u70b9\uff09\u7684\u6982\u7387\u8d85\u8fc7 70%\u3002\u7f8e\u56fd\u4e0e\u6b27\u5143\u533a\u4e4b\u95f4\u7684\u5229\u5dee\u6269\u5927\uff0c\u9884\u8ba1\u5c06\u7ee7\u7eed\u9650\u5236 EUR\/USD \u7684\u53cd\u5f39\u7a7a\u95f4\u3002<\/p>\n

\u968f\u7740\u6b27\u6d32\u592e\u884c\u4f1a\u8bae\u4e34\u8fd1\uff0c\u5916\u6c47\u671f\u6743\u5e02\u573a\u7684\u77ed\u671f\u201c\u9690\u542b\u6ce2\u52a8\u7387\u201d\uff08implied volatility\uff0c\u671f\u6743\u4ef7\u683c\u53cd\u6620\u7684\u5e02\u573a\u5bf9\u672a\u6765\u6ce2\u52a8\u9884\u671f\uff09\u6b63\u5728\u4e0a\u5347\u3002Cboe \u6b27\u5143\u8d27\u5e01\u6ce2\u52a8\u7387\u6307\u6570\uff08EVZ\uff0c\u7528\u6765\u8861\u91cf\u6b27\u5143\u76f8\u5173\u671f\u6743\u9690\u542b\u6ce2\u52a8\u7387\u7684\u6307\u6807\uff09\u56de\u5347\u81f3 8.5\uff0c\u663e\u793a\u4ea4\u6613\u5458\u6b63\u4e3a\u58f0\u660e\u524d\u540e\u53ef\u80fd\u51fa\u73b0\u7684\u4ef7\u683c\u5927\u5e45\u6ce2\u52a8\u505a\u51c6\u5907\u3002\u8fd9\u4e3a\u201c\u4e70\u5165\u8de8\u5f0f\u201d\uff08long straddle\uff0c\u540c\u65f6\u4e70\u5165\u540c\u4e00\u5230\u671f\u65e5\u3001\u540c\u4e00\u884c\u6743\u4ef7\u7684\u770b\u6da8\u4e0e\u770b\u8dcc\u671f\u6743\uff1b\u53ea\u8981\u4ef7\u683c\u5927\u5e45\u4e0a\u4e0b\u6ce2\u52a8\u5176\u4e2d\u4e00\u8fb9\u83b7\u5229\u5373\u53ef\u3001\u4e0e\u65b9\u5411\u65e0\u5173\uff09\u7b49\u7b56\u7565\u63d0\u4f9b\u673a\u4f1a\u3002<\/p>\n

2025 \u5e74\u672b\u5728 12 \u6708\u653f\u7b56\u4f1a\u8bae\u524d\u540e\u4e5f\u51fa\u73b0\u7c7b\u4f3c\u60c5\u51b5\uff1a\u4e8b\u4ef6\u524d\u6ce2\u52a8\u7387\u4e0a\u5347\uff0c\u4e8b\u4ef6\u540e\u5219\u5feb\u901f\u56de\u843d\u3002\u82e5 4 \u6708 29 \u65e5\u6b27\u6d32\u592e\u884c\u91ca\u653e\u7b26\u5408\u9884\u671f\u7684\u9e3d\u6d3e\u4fe1\u606f\uff0c\u4ea4\u6613\u5458\u53ef\u8003\u8651\u5728\u516c\u544a\u540e\u901a\u8fc7\u201c\u5356\u6ce2\u52a8\u7387\u201d\u7b56\u7565\uff08\u62bc\u6ce8\u6ce2\u52a8\u7387\u56de\u843d\uff09\u6765\u64cd\u4f5c\uff0c\u4f8b\u5982\u201c\u5356\u51fa\u5bbd\u8de8\u5f0f\u201d\uff08short strangle\uff0c\u540c\u65f6\u5356\u51fa\u4ef7\u5916\u770b\u6da8\u4e0e\u4ef7\u5916\u770b\u8dcc\u671f\u6743\uff1b\u5728\u4ef7\u683c\u7ef4\u6301\u533a\u95f4\u65f6\u83b7\u5229\uff0c\u4f46\u98ce\u9669\u8f83\u9ad8\uff09\u3002\u8be5\u505a\u6cd5\u65e8\u5728\u6355\u6349\u671f\u6743\u6743\u5229\u91d1\u5728\u4e8b\u4ef6\u540e\u88ab\u5feb\u901f\u538b\u7f29\uff08volatility crush\uff0c\u91cd\u5927\u4e8b\u4ef6\u843d\u5730\u540e\u9690\u542b\u6ce2\u52a8\u7387\u4e0b\u964d\u5bfc\u81f4\u671f\u6743\u4ef7\u683c\u4e0b\u8dcc\uff09\u7684\u673a\u4f1a\u3002<\/p>\n

\u5c3d\u7ba1\u77ed\u671f\u5b58\u5728\u963b\u529b\uff0c\u4f46\u73b0\u5728\u5c31\u62bc\u6ce8\u6b27\u5143\u5927\u8dcc\u53ef\u80fd\u4ecd\u504f\u65e9\u3002IMF \u628a 2026 \u5e74\u6b27\u5143\u533a\u589e\u957f\u9884\u6d4b\u4e0b\u8c03\u81f3 1.1%\uff0c\u4e0d\u8fc7\u8fd1\u671f\u201c\u91c7\u8d2d\u7ecf\u7406\u4eba\u6307\u6570\u201d\uff08PMI\uff0c\u53cd\u6620\u5236\u9020\u4e1a\u4e0e\u670d\u52a1\u4e1a\u666f\u6c14\u5ea6\u7684\u8c03\u67e5\u6307\u6807\uff09\u663e\u793a\u670d\u52a1\u4e1a\u8868\u73b0\u4ecd\u5177\u97e7\u6027\u3002\u8fd9\u79cd\u7a33\u5b9a\u6027\u610f\u5473\u7740\uff0c\u4e0e\u5176\u76f4\u63a5\u505a\u7a7a\uff0c\u4e0d\u5982\u91c7\u7528\u201c\u9650\u5b9a\u98ce\u9669\u201d\uff08defined-risk\uff0c\u6700\u5927\u4e8f\u635f\u53ef\u9884\u5148\u786e\u5b9a\uff09\u7684\u7b56\u7565\u66f4\u7a33\u5065\uff0c\u4f8b\u5982\u4e70\u5165\u201c\u770b\u8dcc\u4ef7\u5dee\u201d\uff08put spread\uff0c\u540c\u65f6\u4e70\u5165\u4e0e\u5356\u51fa\u4e0d\u540c\u6267\u884c\u4ef7\u7684\u770b\u8dcc\u671f\u6743\uff0c\u4ee5\u964d\u4f4e\u6210\u672c\u5e76\u9650\u5b9a\u6536\u76ca\u4e0e\u98ce\u9669\uff09\u3002<\/p>\n

\u521b\u5efa VT Markets \u771f\u5b9e\u8d26\u6237<\/a>\u00a0\u5e76\u00a0\u7acb\u5373\u5f00\u59cb\u4ea4\u6613<\/a>\u3002 <\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

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