{"id":46454,"date":"2026-05-06T18:56:05","date_gmt":"2026-05-06T18:56:05","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e7%be%8e%e5%85%83-%e7%91%9e%e9%83%8e%e4%b8%8b%e6%bb%91%ef%bc%8c%e5%9b%a0%e7%be%8e%e4%bc%8a%e5%85%b3%e7%b3%bb%e7%bc%93%e5%92%8c%e6%8f%90%e6%8c%af%e9%a3%8e%e9%99%a9%e5%81%8f%e5%a5%bd%ef%bc%8c%e7%91%9e\/"},"modified":"2026-05-06T18:56:05","modified_gmt":"2026-05-06T18:56:05","slug":"%e7%be%8e%e5%85%83-%e7%91%9e%e9%83%8e%e4%b8%8b%e6%bb%91%ef%bc%8c%e5%9b%a0%e7%be%8e%e4%bc%8a%e5%85%b3%e7%b3%bb%e7%bc%93%e5%92%8c%e6%8f%90%e6%8c%af%e9%a3%8e%e9%99%a9%e5%81%8f%e5%a5%bd%ef%bc%8c%e7%91%9e","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/%e7%be%8e%e5%85%83-%e7%91%9e%e9%83%8e%e4%b8%8b%e6%bb%91%ef%bc%8c%e5%9b%a0%e7%be%8e%e4%bc%8a%e5%85%b3%e7%b3%bb%e7%bc%93%e5%92%8c%e6%8f%90%e6%8c%af%e9%a3%8e%e9%99%a9%e5%81%8f%e5%a5%bd%ef%bc%8c%e7%91%9e\/","title":{"rendered":"\u7f8e\u5143\/\u745e\u90ce\u4e0b\u6ed1\uff0c\u56e0\u7f8e\u4f0a\u5173\u7cfb\u7f13\u548c\u63d0\u632f\u98ce\u9669\u504f\u597d\uff0c\u745e\u58eb\u901a\u80c0\u8d70\u5f3a\u652f\u6491\u745e\u90ce"},"content":{"rendered":"

USD\/CHF \u8fde\u8dcc\u7b2c\u4e8c\u5929\uff0c\u5468\u4e09\u57280.7790\u9644\u8fd1\u4ea4\u6613\uff0c\u4e0b\u8dcc0.50%\u3002\u968f\u7740\u5e02\u573a\u8f6c\u5411\u66f4\u613f\u610f\u627f\u62c5\u98ce\u9669\uff08risk-on\uff0c\u6307\u6295\u8d44\u8005\u613f\u610f\u4e70\u5165\u80a1\u7968\u7b49\u8f83\u9ad8\u98ce\u9669\u8d44\u4ea7\u3001\u51cf\u5c11\u6301\u6709\u907f\u9669\u8d44\u4ea7\uff09\uff0c\u7f8e\u5143\u6301\u7eed\u627f\u538b\u3002<\/p>\n

\u8fd9\u6ce2\u8d70\u52bf\u8ddf\u201c\u7f8e\u56fd\u4e0e\u4f0a\u6717\u53ef\u80fd\u8fbe\u6210\u7406\u89e3\u201d\u7684\u6d88\u606f\u6709\u5173\u3002Axios\u79f0\uff0c\u53cc\u65b9\u66f4\u63a5\u8fd1\u8fbe\u6210\u4e00\u4efd\u201c\u8c05\u89e3\u5907\u5fd8\u5f55\u201d\uff08memorandum of understanding\uff0c\u7b80\u79f0MoU\uff1a\u4e0d\u4e00\u5b9a\u662f\u6b63\u5f0f\u6761\u7ea6\uff0c\u4f46\u4f1a\u5148\u5b9a\u4e0b\u5408\u4f5c\u6846\u67b6\uff09\uff0c\u4e3a\u672a\u6765\u6838\u8c08\u5224\u5efa\u7acb\u6846\u67b6\uff0c\u5e02\u573a\u5bf9\u7f8e\u5143\u201c\u907f\u9669\u8d44\u91d1\u6d41\u201d\uff08safe-haven flows\uff1a\u5728\u4e0d\u786e\u5b9a\u65f6\u6d41\u5411\u88ab\u8ba4\u4e3a\u66f4\u5b89\u5168\u8d44\u4ea7\u7684\u8d44\u91d1\uff09\u9700\u6c42\u4e0b\u964d\u3002<\/p>\n

\u4e2d\u4e1c\u65b0\u95fb\u5de6\u53f3\u5e02\u573a\u60c5\u7eea<\/h3>\n

\u7f8e\u56fd\u56fd\u9632\u90e8\u957fPete Hegseth\u8868\u793a\uff0c\u8fd1\u4e00\u4e2a\u6708\u524d\u7684\u505c\u706b\u4ecd\u5728\u751f\u6548\uff1b\u56fd\u52a1\u537fMarco Rubio\u79f0\uff0c\u7f8e\u56fd\u7684\u8fdb\u653b\u884c\u52a8\u5df2\u7ecf\u7ed3\u675f\u3002\u7f8e\u56fd\u603b\u7edfDonald Trump\u5ba3\u5e03\uff0c\u5728\u8bc4\u4f30\u8fbe\u6210\u534f\u8bae\u7684\u53ef\u80fd\u6027\u671f\u95f4\uff0c\u5c06\u6682\u65f6\u6682\u505c\u4e3a\u8239\u53ea\u901a\u8fc7\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u62a4\u822a\u7684\u884c\u52a8\u3002<\/p>\n

Trump\u4e5f\u8868\u793a\uff0c\u5982\u679c\u4f0a\u6717\u4e0d\u540c\u610f\u534f\u8bae\uff0c\u8f70\u70b8\u5c06\u4ee5\u201c\u66f4\u9ad8\u5f3a\u5ea6\u201d\u6062\u590d\u3002\u8fd9\u9650\u5236\u4e86\u5e02\u573a\u60c5\u7eea\u7684\u6539\u5584\u5e45\u5ea6\u3002<\/p>\n

\u7f8e\u56fd\u6570\u636e\u65b9\u9762\uff0cADP\u62a5\u544a\u79f04\u6708\u79c1\u8425\u90e8\u95e8\u65b0\u589e\u5c31\u4e1a10.9\u4e07\u4eba\uff0c\u9ad8\u4e8e\u5e02\u573a\u9884\u671f\u76849.9\u4e07\u4eba\u3002\u5c3d\u7ba1\u5982\u6b64\uff0c\u968f\u7740\u98ce\u9669\u504f\u597d\u56de\u5347\uff0c\u7f8e\u5143\u4ecd\u504f\u5f31\u3002<\/p>\n

\u745e\u58eb\u901a\u80c0\u57284\u6708\u540c\u6bd4\u5347\u81f30.6%\uff0c\u9ad8\u4e8e3\u6708\u76840.3%\uff0c\u4e5f\u9ad8\u4e8e\u745e\u58eb\u56fd\u5bb6\u94f6\u884c\uff08SNB\uff0c\u745e\u58eb\u592e\u884c\uff09\u76840.5%\u9884\u6d4b\u3002\u4e0e\u4e2d\u4e1c\u7d27\u5f20\u5c40\u52bf\u76f8\u5173\u7684\u80fd\u6e90\u6210\u672c\u4e0a\u5347\u662f\u4e3b\u8981\u56e0\u7d20\u3002<\/p>\n

\u98ce\u9669\u504f\u597d\u5347\u6e29\u538b\u4f4e\u7f8e\u5143<\/h3>\n

\u98ce\u9669\u504f\u597d\u6539\u5584\u6b63\u5728\u538b\u4f4e\u7f8e\u5143\u3002\u8fd1\u671f\u534e\u76db\u987f\u4e0e\u5317\u4eac\u7684\u9ad8\u5c42\u4f1a\u8c08\u65e8\u5728\u7f13\u548c\u8d38\u6613\u4e89\u7aef\uff0c\u4fc3\u4f7f\u4ea4\u6613\u5458\u51cf\u5c11\u914d\u7f6e\u907f\u9669\u8d44\u4ea7\uff0c\u8fd9\u662f\u672c\u5468\u5e02\u573a\u60c5\u7eea\u7684\u4e3b\u8981\u63a8\u52a8\u529b\u3002<\/p>\n

\u5728\u8fd9\u79cd\u80cc\u666f\u4e0b\uff0c\u82e5\u7d27\u5f20\u5c40\u52bf\u7f13\u548c\uff0c\u6211\u4eec\u5173\u6ce8\u4e3b\u8981\u8d27\u5e01\u5bf9\u7684\u201c\u9690\u542b\u6ce2\u52a8\u7387\u201d\uff08implied volatility\uff1a\u671f\u6743\u4ef7\u683c\u53cd\u6620\u7684\u5e02\u573a\u5bf9\u672a\u6765\u6ce2\u52a8\u5e45\u5ea6\u7684\u9884\u671f\uff09\u53ef\u80fd\u56de\u843d\u3002\u867d\u7136\u6d88\u606f\u504f\u5229\u597d\uff0c\u4f46\u5b98\u5458\u8bb2\u8bdd\u968f\u65f6\u53ef\u80fd\u626d\u8f6c\u60c5\u7eea\uff0c\u56e0\u6b64\u7528\u201c\u5356\u6ce2\u52a8\u7387\u201d\uff08selling volatility\uff1a\u901a\u8fc7\u671f\u6743\u7b56\u7565\u5728\u6ce2\u52a8\u4e0b\u964d\u65f6\u83b7\u5229\uff09\u8fdb\u884c\u4ea4\u6613\uff0c\u4f8b\u5982\u505a\u7a7a\u8de8\u5f0f\uff08short straddle\uff1a\u540c\u65f6\u5356\u51fa\u540c\u5230\u671f\u3001\u540c\u6267\u884c\u4ef7\u7684\u770b\u6da8\u4e0e\u770b\u8dcc\u671f\u6743\uff0c\u8d4c\u4ef7\u683c\u6ce2\u52a8\u4e0d\u5927\uff09\uff0c\u98ce\u9669\u8f83\u9ad8\u3002\u76f8\u5bf9\u800c\u8a00\uff0c\u4e70\u5165USD\/CHF\u770b\u8dcc\u671f\u6743\uff08put options\uff1a\u4ef7\u683c\u4e0b\u8dcc\u65f6\u53ef\u80fd\u83b7\u5229\u7684\u671f\u6743\uff09\u662f\u66f4\u76f4\u63a5\u7684\u62bc\u6ce8\u7f8e\u5143\u7ee7\u7eed\u8d70\u5f31\u65b9\u5f0f\u3002<\/p>\n

\u53e6\u4e00\u65b9\u9762\uff0c\u745e\u90ce\u4ecd\u504f\u5f3a\u3002\u6700\u65b0\u6570\u636e\u663e\u793a\uff0c2026\u5e744\u6708\u901a\u80c0\u4e3a1.4%\uff0c\u7565\u9ad8\u4e8eSNB\u9884\u6d4b\uff0c\u4e5f\u660e\u663e\u9ad8\u4e8e\u53bb\u5e74\u540c\u671f\u76840.6%\u3002\u8fd9\u964d\u4f4e\u4e86SNB\u51fa\u624b\u6253\u538b\u745e\u90ce\uff08intervention\uff1a\u592e\u884c\u8fdb\u573a\u4e70\u5356\u5916\u6c47\u4ee5\u5f71\u54cd\u6c47\u7387\uff09\u7684\u53ef\u80fd\u6027\uff0c\u8fdb\u4e00\u6b65\u52a0\u5927USD\/CHF\u4e0b\u884c\u538b\u529b\u3002<\/p>\n

\u6211\u4eec\u4e5f\u770b\u5230\u5e02\u573a\u5bf9\u5f3a\u52b2\u7684\u7f8e\u56fd\u6570\u636e\u53cd\u5e94\u6709\u9650\u3002\u4f8b\u5982\uff0c\u4e0a\u5468\u4e94\u7f8e\u56fd\u5c31\u4e1a\u62a5\u544a\u663e\u793a4\u6708\u65b0\u589e\u5c31\u4e1a19.5\u4e07\u4eba\uff0c\u4f46\u5e76\u672a\u652f\u6491\u7f8e\u5143\u3002\u5f53\u524d\u5e02\u573a\u66f4\u770b\u91cd\u5730\u7f18\u653f\u6cbb\u6d88\u606f\uff0c\u800c\u975e\u57fa\u672c\u9762\u6570\u636e\uff0c\u4ea4\u6613\u5458\u5e94\u66f4\u91cd\u89c6\u201c\u6807\u9898\u98ce\u9669\u201d\uff08headline risk\uff1a\u7a81\u53d1\u65b0\u95fb\u5f15\u53d1\u4ef7\u683c\u5feb\u901f\u6ce2\u52a8\u7684\u98ce\u9669\uff09\u3002<\/p>\n

\u56e0\u6b64\uff0c\u4ea4\u6613\u5458\u53ef\u8003\u8651\u4e70\u5165\u77ed\u671f\u9650USD\/CHF\u770b\u8dcc\u671f\u6743\uff0c\u6267\u884c\u4ef7\u8bbe\u5728\u5f53\u524d\u652f\u6491\u4f4d\u4e0b\u65b9\u3002\u5f53\u524d\u73af\u5883\u4e0d\u6392\u9664\u8dcc\u7834\u8fd1\u671f\u4f4e\u70b9\uff0c\u671f\u6743\u53ef\u628a\u98ce\u9669\u9650\u5236\u5728\u5df2\u652f\u4ed8\u7684\u6743\u5229\u91d1\u8303\u56f4\u5185\uff08defined-risk\uff1a\u6700\u5927\u4e8f\u635f\u53ef\u63a7\uff09\u3002\u4e24\u5468\u5230\u4e00\u4e2a\u6708\u7684\u671f\u9650\u8f83\u5408\u9002\uff0c\u4ee5\u6355\u6349\u4e0b\u4e00\u6ce2\u8d70\u52bf\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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