{"id":46617,"date":"2026-05-08T11:25:45","date_gmt":"2026-05-08T11:25:45","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%e7%9a%84%e9%b2%8d%e5%b0%94%e8%ae%a4%e4%b8%ba%ef%bc%8c%e4%bc%8a%e6%9c%97%e7%b4%a7%e5%bc%a0%e5%b1%80%e5%8a%bf%e7%bc%93%e8%a7%a3%e4%b8%8e%e6%b2%b9\/"},"modified":"2026-05-08T11:25:45","modified_gmt":"2026-05-08T11:25:45","slug":"%e5%be%b7%e5%9b%bd%e5%95%86%e4%b8%9a%e9%93%b6%e8%a1%8c%e7%9a%84%e9%b2%8d%e5%b0%94%e8%ae%a4%e4%b8%ba%ef%bc%8c%e4%bc%8a%e6%9c%97%e7%b4%a7%e5%bc%a0%e5%b1%80%e5%8a%bf%e7%bc%93%e8%a7%a3%e4%b8%8e%e6%b2%b9","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%e7%9a%84%e9%b2%8d%e5%b0%94%e8%ae%a4%e4%b8%ba%ef%bc%8c%e4%bc%8a%e6%9c%97%e7%b4%a7%e5%bc%a0%e5%b1%80%e5%8a%bf%e7%bc%93%e8%a7%a3%e4%b8%8e%e6%b2%b9\/","title":{"rendered":"\u5fb7\u56fd\u5546\u4e1a\u94f6\u884c\u7684\u9c8d\u5c14\u8ba4\u4e3a\uff0c\u4f0a\u6717\u7d27\u5f20\u5c40\u52bf\u7f13\u89e3\u4e0e\u6cb9\u4ef7\u4e0b\u8dcc\u5c06\u901a\u8fc7\u5b9e\u9645\u5229\u7387\u9884\u671f\u63d0\u632f\u6b27\u5143"},"content":{"rendered":"

\u5fb7\u56fd\u5546\u4e1a\u94f6\u884c\uff08Commerzbank\uff09\u7684Volkmar Baur\u8868\u793a\uff0c\u5982\u679c\u4f0a\u6717\u51b2\u7a81\u53ef\u80fd\u7ed3\u675f\u3001\u970d\u5c14\u6728\u5179\u6d77\u5ce1\uff08Strait of Hormuz\uff0c\u5168\u7403\u91cd\u8981\u7684\u77f3\u6cb9\u8fd0\u8f93\u901a\u9053\uff09\u91cd\u65b0\u5f00\u653e\uff0c\u5e02\u573a\u5bf9\u201c\u5b9e\u9645\u5229\u7387\u201d\uff08real interest rate\uff0c\u540d\u4e49\u5229\u7387\u51cf\u53bb\u901a\u80c0\u9884\u671f\u540e\u7684\u771f\u5b9e\u56de\u62a5\uff09\u7684\u9884\u671f\u53ef\u80fd\u4f1a\u8f6c\u53d8\uff0c\u4ece\u800c\u5728\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u652f\u6301\u6b27\u5143\u5151\u7f8e\u5143\u8d70\u5f3a\u3002\u4ed6\u8bf4\uff0c\u76f8\u6bd4\u7f8e\u56fd\uff0c\u6b27\u5143\u533a\u7684\u201c\u901a\u80c0\u9884\u671f\u201d\uff08inflation expectations\uff0c\u5e02\u573a\u5bf9\u672a\u6765\u7269\u4ef7\u6da8\u5e45\u7684\u9884\u6d4b\uff09\u4ee5\u53ca\u201c\u6b27\u6d32\u592e\u884c\u5b9a\u4ef7\u201d\uff08ECB pricing\uff0c\u5e02\u573a\u5bf9\u6b27\u6d32\u592e\u884c\u672a\u6765\u5229\u7387\u8def\u5f84\u7684\u62bc\u6ce8\uff09\u5bf9\u6cb9\u4ef7\u6ce2\u52a8\u66f4\u654f\u611f\u3002<\/p>\n

\u6cb9\u4ef7\u4ece\u6bcf\u6876\u7ea6110\u7f8e\u5143\u8dcc\u81f3\u7ea6101\u7f8e\u5143\uff1b\u540c\u65f6\u6b27\u5143\u5151\u7f8e\u5143\u4e0a\u6da8\u7ea61%\uff0c\u800c\u201c\u8d38\u6613\u52a0\u6743\u7f8e\u5143\u201d\uff08trade-weighted USD\uff0c\u7528\u7f8e\u5143\u5bf9\u4e00\u7bee\u5b50\u4e3b\u8981\u8d27\u5e01\u52a0\u6743\u8ba1\u7b97\u7684\u7efc\u5408\u5f3a\u5f31\u6307\u6807\uff09\u4e0b\u8dcc0.4%\u3002EUR\/USD\u56de\u5230\u63a5\u8fd11.175\uff1b\u5728\u51b2\u7a81\u524d\u4e00\u5ea6\u5f98\u5f8a\u57281.18\u9644\u8fd1\uff0c\u6700\u4f4e\u66fe\u77ed\u6682\u89e6\u53ca1.14\u3002<\/p>\n

\u6cb9\u4ef7\u6ce2\u52a8\u4e0e\u5b9e\u9645\u5229\u7387\u53d8\u5316<\/h3>\n

\u4ed6\u6307\u51fa\uff0c\u82e5\u6cb9\u4ef7\u4e0b\u8dcc\uff0c\u53ef\u80fd\u4f1a\u4ee4\u6b27\u5143\u533a\u5229\u7387\u4e0b\u884c\u5e45\u5ea6\u5927\u4e8e\u7f8e\u56fd\uff0c\u4f46\u6b27\u5143\u533a\u901a\u80c0\u9884\u671f\u7684\u4e0b\u884c\u5e45\u5ea6\u4e5f\u4f1a\u6bd4\u7f8e\u56fd\u66f4\u5927\u3002\u8fd9\u6837\u4e00\u6765\uff0c\u6b27\u5143\u533a\u76f8\u5bf9\u7f8e\u56fd\u7684\u201c\u5b9e\u9645\u5229\u5dee\u201d\uff08real-rate differentials\uff0c\u4e24\u5730\u5b9e\u9645\u5229\u7387\u7684\u5dee\u8ddd\uff09\u5c06\u66f4\u6709\u5229\u4e8e\u6b27\u5143\u3002<\/p>\n

\u4ed6\u4e5f\u63d0\u5230\uff0c\u8fc7\u53bb10\u5468\u4ee5\u6765\uff08\u4ece4\u670813\u65e5\u4e4b\u540e\uff09\uff0cEUR\/USD\u4e0e\u201c10\u5e74\u671f\u6536\u76ca\u7387\u5229\u5dee\u201d\uff0810-year yield spread\uff0c\u6b27\u5143\u533a\u4e0e\u7f8e\u56fd10\u5e74\u671f\u56fd\u503a\u6536\u76ca\u7387\u7684\u5dee\uff09\u51fa\u73b0\u80cc\u79bb\u3002\u4ed6\u6307\u51fa\uff0c4\u670811\/12\u65e5\u5468\u672bEUR\/USD\u5927\u7ea6\u4e0a\u79fb2\u7f8e\u5206\uff0c\u800c\u8fd9\u4e0e\u5308\u7259\u5229\u5927\u9009\uff08Hungarian election\uff09\u65f6\u95f4\u91cd\u5408\u3002<\/p>\n

\u6cb9\u4ef7\u4e0e\u6b27\u5143\u5151\u7f8e\u5143\u6c47\u7387\u7684\u5173\u7cfb\u4ecd\u662f\u6211\u4eec\u7b56\u7565\u7684\u5173\u952e\u3002\u6cb9\u4ef7\u4e0b\u8dcc\u5f80\u5f80\u66f4\u80fd\u63a8\u52a8\u6b27\u5143\u800c\u4e0d\u662f\u7f8e\u5143\uff0c\u539f\u56e0\u5728\u4e8e\u6b27\u5143\u533a\u901a\u80c0\u9884\u671f\u5bf9\u80fd\u6e90\u6210\u672c\u66f4\u654f\u611f\u30022025\u5e74\u6625\u5b63\uff0c\u5728\u4f0a\u6717\u51b2\u7a81\u77ed\u6682\u7f13\u548c\u540e\uff0c\u6211\u4eec\u66fe\u770b\u5230\u8fd9\u79cd\u60c5\u51b5\u518d\u6b21\u51fa\u73b0\u3002<\/p>\n

\u76ee\u524d\uff0c\u5e03\u4f26\u7279\u539f\u6cb9\uff08Brent crude\uff0c\u56fd\u9645\u4e3b\u8981\u539f\u6cb9\u57fa\u51c6\u4e4b\u4e00\uff09\u5728\u7d27\u5f20\u5c40\u52bf\u5f71\u54cd\u4e0b\u5f98\u5f8a\u5728\u6bcf\u687695\u7f8e\u5143\u9644\u8fd1\uff1b\u82e5\u51fa\u73b0\u4efb\u4f55\u5916\u4ea4\u8fdb\u5c55\u4fe1\u53f7\uff0c\u6cb9\u4ef7\u53ef\u80fd\u5feb\u901f\u4e0b\u632b\u3002\u8003\u8651\u5230\u6b27\u5143\u533a\u6700\u65b0HICP\u901a\u80c0\uff08HICP\uff0c\u534f\u8c03\u6d88\u8d39\u8005\u7269\u4ef7\u6307\u6570\uff0c\u6b27\u5143\u533a\u5e38\u7528\u901a\u80c0\u6307\u6807\uff09\u4e3a2.8%\uff0c\u4ecd\u9ad8\u4e8e\u7f8e\u56fd\u6838\u5fc3PCE\uff08core PCE\uff0c\u5254\u9664\u6ce2\u52a8\u8f83\u5927\u7684\u98df\u54c1\u4e0e\u80fd\u6e90\u540e\u7684\u4e2a\u4eba\u6d88\u8d39\u652f\u51fa\u7269\u4ef7\u6307\u6570\uff092.5%\uff0c\u82e5\u6cb9\u4ef7\u4e0b\u8dcc\uff0c\u5bf9\u6b27\u6d32\u901a\u80c0\u964d\u6e29\uff08disinflation\uff0c\u901a\u80c0\u653e\u7f13\u3001\u6da8\u4ef7\u901f\u5ea6\u53d8\u6162\uff09\u7684\u5f71\u54cd\u53ef\u80fd\u660e\u663e\u66f4\u5927\uff0c\u4ece\u800c\u6539\u5584\u6b27\u5143\u533a\u76f8\u5bf9\u7f8e\u56fd\u7684\u5b9e\u9645\u5229\u7387\u8868\u73b0\u3002<\/p>\n

\u521b\u5efa\u4f60\u7684VT Markets\u771f\u5b9e\u8d26\u6237<\/a>\u00a0\u5e76\u00a0\u7acb\u5373\u5f00\u59cb\u4ea4\u6613<\/a>\u3002 <\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

\u4f0a\u6717\u51b2\u7a81\u82e5\u7f13\u548c\u3001\u970d\u5c14\u6728\u5179\u91cd\u5f00\uff0c\u6cb9\u4ef7\u6216\u7eed\u8dcc\uff0c\u6b27\u5143\u533a\u901a\u80c0\u9884\u671f\u964d\u66f4\u5feb\u3001\u5b9e\u9645\u5229\u5dee\u8f6c\u5229\u6b27\u5143\uff1bEUR\/USD\u56de\u5347\u81f31.175\uff0c\u7f8e\u5143\u6307\u6570\u8d70\u5f31\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-46617","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\/46617","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=46617"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/46617\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/media?parent=46617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/categories?post=46617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/tags?post=46617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}