{"id":7879,"date":"2025-09-04T09:08:30","date_gmt":"2025-09-04T09:08:30","guid":{"rendered":"https:\/\/www.mdwcc.com\/?p=7879"},"modified":"2025-09-23T01:41:05","modified_gmt":"2025-09-23T01:41:05","slug":"behind-the-strong-upward-trend-in-gold-and-silver-prices-rising-expectations-of-a-fed-rate-cut-and-the-resonance-of-multiple-market-forces","status":"publish","type":"post","link":"https:\/\/www.mdwcc.com\/vi\/behind-the-strong-upward-trend-in-gold-and-silver-prices-rising-expectations-of-a-fed-rate-cut-and-the-resonance-of-multiple-market-forces\/","title":{"rendered":"\u0110\u1eb1ng sau xu h\u01b0\u1edbng t\u0103ng m\u1ea1nh c\u1ee7a gi\u00e1 v\u00e0ng v\u00e0 b\u1ea1c: k\u1ef3 v\u1ecdng ng\u00e0y c\u00e0ng t\u0103ng v\u1ec1 vi\u1ec7c Fed c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t v\u00e0 s\u1ef1 c\u1ed9ng h\u01b0\u1edfng c\u1ee7a nhi\u1ec1u l\u1ef1c l\u01b0\u1ee3ng th\u1ecb tr\u01b0\u1eddng"},"content":{"rendered":"

Trong phi\u00ean giao d\u1ecbch ch\u00e2u \u00c1 h\u00f4m th\u1ee9 Ba, th\u1ecb tr\u01b0\u1eddng kim lo\u1ea1i qu\u00fd to\u00e0n c\u1ea7u m\u1ed9t l\u1ea7n n\u1eefa cho th\u1ea5y \u0111\u00e0 t\u0103ng m\u1ea1nh m\u1ebd. Gi\u00e1 v\u00e0ng giao ngay \u0111\u00e3 nhanh ch\u00f3ng v\u01b0\u1ee3t qua m\u1ee9c cao tr\u01b0\u1edbc \u0111\u00f3, \u0111\u1ea1t m\u1ee9c cao k\u1ef7 l\u1ee5c $3.500\/ounce, n\u00e2ng t\u1ed5ng m\u1ee9c t\u0103ng t\u1eeb \u0111\u1ea7u n\u0103m l\u00ean kho\u1ea3ng $875. M\u1eb7c d\u00f9 gi\u1ea3m nh\u1eb9, gi\u00e1 v\u1eabn duy tr\u00ec \u1edf m\u1ee9c cao $3.493,47\/ounce. Gi\u00e1 b\u1ea1c giao ngay ti\u1ebfp t\u1ee5c giao d\u1ecbch tr\u00ean m\u1ed1c $40, \u0111\u00f3ng c\u1eeda \u1edf m\u1ee9c $40,716\/ounce trong phi\u00ean giao d\u1ecbch ch\u00e2u \u00c1.<\/p>\n

X\u00e9t v\u1ec1 d\u00e0i h\u1ea1n, gi\u00e1 v\u00e0ng v\u00e0 b\u1ea1c \u0111\u00e3 t\u0103ng h\u01a1n g\u1ea5p \u0111\u00f4i trong ba n\u0103m qua, v\u00e0 b\u1ea1c \u0111\u00e3 th\u1ec3 hi\u1ec7n \u0111\u1eb7c bi\u1ec7t t\u1ed1t trong n\u0103m nay, v\u1edbi m\u1ee9c t\u0103ng tr\u01b0\u1edfng v\u01b0\u1ee3t tr\u1ed9i so v\u1edbi v\u00e0ng. \u0110\u1eb1ng sau \u0111\u1ee3t t\u0103ng gi\u00e1 kim lo\u1ea1i qu\u00fd n\u00e0y l\u00e0 s\u1ef1 c\u1ed9ng h\u01b0\u1edfng s\u00e2u s\u1eafc c\u1ee7a nhi\u1ec1u y\u1ebfu t\u1ed1, ch\u1eb3ng h\u1ea1n nh\u01b0 k\u1ef3 v\u1ecdng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang, r\u1ee7i ro \u0111\u1ecba ch\u00ednh tr\u1ecb, nhu c\u1ea7u ph\u00e2n b\u1ed5 t\u00e0i s\u1ea3n v\u00e0 c\u00e1c y\u1ebfu t\u1ed1 th\u00fac \u0111\u1ea9y c\u00f4ng nghi\u1ec7p.
\n\"h\u00ecnh<\/p>\n

\u0110\u1ed9ng l\u1ef1c c\u1ed1t l\u00f5i: K\u1ef3 v\u1ecdng v\u1ec1 vi\u1ec7c Fed c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t \u0111ang t\u0103ng l\u00ean, khi Morgan Stanley cho r\u1eb1ng s\u1ebd c\u00f3 c\u00e1ch ti\u1ebfp c\u1eadn \u00f4n h\u00f2a h\u01a1n.<\/h2>\n

Nguy\u00ean l\u00fd c\u1ed1t l\u00f5i \u0111\u1eb1ng sau \u0111\u1ee3t t\u0103ng gi\u00e1 hi\u1ec7n t\u1ea1i c\u1ee7a kim lo\u1ea1i qu\u00fd b\u1eaft ngu\u1ed3n t\u1eeb k\u1ef3 v\u1ecdng m\u1ea1nh m\u1ebd c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ec1 s\u1ef1 thay \u0111\u1ed5i trong ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (Fed). Ph\u00e2n t\u00edch g\u1ea7n \u0111\u00e2y t\u1eeb Morgan Stanley, m\u1ed9t \u00f4ng l\u1edbn c\u1ee7a Ph\u1ed1 Wall, c\u00e0ng c\u1ee7ng c\u1ed1 th\u00eam k\u1ef3 v\u1ecdng n\u00e0y. Ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang Powell tr\u01b0\u1edbc \u0111\u00e2y \u0111\u00e3 th\u1eadn tr\u1ecdng \u0111\u1ec3 ng\u1ecf kh\u1ea3 n\u0103ng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t tr\u01b0\u1edbc c\u00f4ng ch\u00fang, v\u00e0 th\u1ecb tr\u01b0\u1eddng nh\u00ecn chung k\u1ef3 v\u1ecdng Fed s\u1ebd b\u1eaft \u0111\u1ea7u c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t t\u1ea1i cu\u1ed9c h\u1ecdp th\u00e1ng n\u00e0y. B\u00e1o c\u00e1o b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p c\u1ee7a M\u1ef9 c\u00f4ng b\u1ed1 v\u00e0o th\u1ee9 S\u00e1u tu\u1ea7n n\u00e0y, n\u1ebfu ti\u1ebfp t\u1ee5c x\u00e1c nh\u1eadn c\u00e1c d\u1ea5u hi\u1ec7u cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng ti\u1ebfp t\u1ee5c suy y\u1ebfu, s\u1ebd cung c\u1ea5p d\u1eef li\u1ec7u quan tr\u1ecdng h\u1ed7 tr\u1ee3 cho vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t.<\/p>\n

Sau khi c\u1eadp nh\u1eadt d\u1ef1 b\u00e1o kinh t\u1ebf, nh\u00f3m chi\u1ebfn l\u01b0\u1ee3c l\u00e3i su\u1ea5t c\u1ee7a Morgan Stanley l\u01b0u \u00fd r\u1eb1ng d\u1ef1 b\u00e1o c\u01a1 s\u1edf c\u1ee7a h\u1ecd k\u00eau g\u1ecdi c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n t\u1ea1i cu\u1ed9c h\u1ecdp c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang trong th\u00e1ng n\u00e0y, sau \u0111\u00f3 l\u00e0 c\u00e1c \u0111\u1ee3t c\u1eaft gi\u1ea3m t\u01b0\u01a1ng t\u1ef1 t\u1ea1i m\u1ed7i cu\u1ed9c h\u1ecdp kh\u00e1c cho \u0111\u1ebfn th\u00e1ng 12 n\u0103m 2026. Tuy nhi\u00ean, sau khi \u0111\u00e1nh gi\u00e1 c\u00e1c k\u1ecbch b\u1ea3n c\u00f3 th\u1ec3 x\u1ea3y ra \u0111\u1ed1i v\u1edbi n\u1ec1n kinh t\u1ebf Hoa K\u1ef3, c\u00f4ng ty tin r\u1eb1ng, d\u1ef1a tr\u00ean ph\u00e2n t\u00edch x\u00e1c su\u1ea5t c\u00f3 tr\u1ecdng s\u1ed1 c\u1ee7a c\u00e1c k\u1ecbch b\u1ea3n kh\u00e1c nhau, l\u1ed9 tr\u00ecnh l\u00e3i su\u1ea5t c\u1ee7a Fed c\u00f3 th\u1ec3 \u00f4n h\u00f2a h\u01a1n so v\u1edbi d\u1ef1 b\u00e1o c\u01a1 s\u1edf. C\u1ee5 th\u1ec3, Morgan Stanley d\u1ef1 \u0111o\u00e1n l\u00e3i su\u1ea5t qu\u1ef9 li\u00ean bang c\u00f3 th\u1ec3 gi\u1ea3m nhanh h\u01a1n d\u1ef1 ki\u1ebfn hi\u1ec7n t\u1ea1i trong giai \u0111o\u1ea1n 2025-2026, c\u00f3 kh\u1ea3 n\u0103ng xu\u1ed1ng m\u1ee9c th\u1ea5p nh\u1ea5t l\u00e0 2,25%, m\u1eb7c d\u00f9 l\u00e3i su\u1ea5t c\u00f3 th\u1ec3 k\u1ebft th\u00fac \u1edf m\u1ee9c cao h\u01a1n m\u1ed9t ch\u00fat trong giai \u0111o\u1ea1n n\u00e0y, v\u00e0o kho\u1ea3ng 2,75%.<\/p>\n

\"IMG_256\"<\/p>\n

\u0110\u1ec3 xem x\u00e9t k\u1ef9 h\u01a1n kh\u1ea3 n\u0103ng thay \u0111\u1ed5i l\u00e3i su\u1ea5t, nh\u00f3m Morgan Stanley \u0111\u00e3 ph\u00e2n t\u00edch ba k\u1ecbch b\u1ea3n thay th\u1ebf:<\/p>\n

\u0110\u1ea7u ti\u00ean l\u00e0 k\u00edch th\u00edch t\u00e0i ch\u00ednh (m\u1edf r\u1ed9ng chi ti\u00eau c\u1ee7a ch\u00ednh ph\u1ee7) v\u00e0 nhu c\u1ea7u t\u0103ng cao do \u201ctinh th\u1ea7n \u0111\u1ed9ng v\u1eadt\u201d (x\u00e1c su\u1ea5t 10%);<\/p>\n

Kh\u1ea3 n\u0103ng th\u1ee9 hai l\u00e0 kh\u1ea3 n\u0103ng C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang t\u0103ng c\u01b0\u1eddng ch\u1ecbu \u0111\u1ef1ng l\u1ea1m ph\u00e1t c\u00f9ng v\u1edbi \u201ct\u00e2m l\u00fd b\u1ea7y \u0111\u00e0n\u201d s\u1ebd th\u00fac \u0111\u1ea9y nhu c\u1ea7u (x\u00e1c su\u1ea5t 10%);<\/p>\n

K\u1ecbch b\u1ea3n th\u1ee9 ba l\u00e0 suy tho\u00e1i nh\u1eb9 do c\u00fa s\u1ed1c th\u01b0\u01a1ng m\u1ea1i v\u00e0 gi\u00e1n \u0111o\u1ea1n kinh t\u1ebf \u0111\u1ed9t ng\u1ed9t (x\u00e1c su\u1ea5t 30%).<\/p>\n

B\u00e1o c\u00e1o nh\u1ea5n m\u1ea1nh r\u1eb1ng n\u1ebfu r\u1ee7i ro suy tho\u00e1i \u0111\u01b0\u1ee3c t\u00ednh \u0111\u1ebfn ho\u1eb7c C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang c\u00f3 c\u00e1ch ti\u1ebfp c\u1eadn \u00f4n h\u00f2a h\u01a1n \u0111\u1ed1i v\u1edbi l\u1ea1m ph\u00e1t, c\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 \u0111\u01b0a ra x\u00e1c su\u1ea5t cao h\u01a1n cho k\u1ebft qu\u1ea3 "\u00f4n h\u00f2a", trong \u0111\u00f3 gi\u00e1 th\u1ecb tr\u01b0\u1eddng c\u1ee7a l\u00e3i su\u1ea5t qu\u1ef9 li\u00ean bang c\u00f3 th\u1ec3 th\u1ea5p h\u01a1n 100 \u0111i\u1ec3m c\u01a1 b\u1ea3n so v\u1edbi l\u00e3i su\u1ea5t cu\u1ed1i c\u00f9ng hi\u1ec7n \u0111\u01b0\u1ee3c gi\u1ea3 \u0111\u1ecbnh l\u00e0 3,25%.<\/p>\n

Tuy nhi\u00ean, th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu hi\u1ec7n t\u1ea1i \u0111\u1ecbnh gi\u00e1 kh\u1ea3 n\u0103ng x\u1ea3y ra chu\u1ed7i s\u1ef1 ki\u1ec7n "\u00f4n h\u00f2a" n\u00e0y ch\u1ec9 \u1edf m\u1ee9c 20%. Morgan Stanley \u0111\u00e3 \u0111\u01b0a ra l\u1eddi khuy\u00ean \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3, bao g\u1ed3m mua d\u00e0i h\u1ea1n tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 k\u1ef3 h\u1ea1n 5 n\u0103m v\u00e0 tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n, tham gia v\u00e0o c\u00e1c "giao d\u1ecbch d\u1ed1c" (mua ng\u1eafn h\u1ea1n + b\u00e1n d\u00e0i h\u1ea1n), v\u00e0 mua d\u00e0i h\u1ea1n h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai qu\u1ef9 li\u00ean bang th\u00e1ng 1 n\u0103m 2026. Logic c\u1ed1t l\u00f5i n\u1eb1m \u1edf ni\u1ec1m tin v\u00e0o s\u1ef1 d\u1ed1c l\u00ean c\u1ee7a \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t - t\u1ee9c l\u00e0 l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n s\u1ebd t\u0103ng nhanh h\u01a1n l\u00e3i su\u1ea5t ng\u1eafn h\u1ea1n.<\/p>\n

\"h\u00ecnh<\/p>\n

C\u00f3 nhi\u1ec1u y\u1ebfu t\u1ed1 g\u00f3p ph\u1ea7n v\u00e0o s\u1ef1 gia t\u0103ng n\u00e0y: nhu c\u1ea7u tr\u00fa \u1ea9n an to\u00e0n, l\u01b0\u1ee3ng n\u1eafm gi\u1eef ETF v\u00e0 \u0111\u1eb7c t\u00ednh k\u00e9p c\u1ee7a b\u1ea1c l\u00e0 "c\u00f4ng nghi\u1ec7p + t\u00e0i ch\u00ednh".<\/h2>\n

B\u00ean c\u1ea1nh \u0111\u1ed9ng l\u1ef1c c\u1ed1t l\u00f5i l\u00e0 k\u1ef3 v\u1ecdng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (Fed), nhi\u1ec1u y\u1ebfu t\u1ed1 th\u1ecb tr\u01b0\u1eddng kh\u00e1c c\u0169ng g\u00f3p ph\u1ea7n th\u00fac \u0111\u1ea9y \u0111\u00e0 t\u0103ng c\u1ee7a v\u00e0ng v\u00e0 b\u1ea1c. X\u00e9t v\u1ec1 g\u00f3c \u0111\u1ed9 t\u00e0i s\u1ea3n tr\u00fa \u1ea9n an to\u00e0n, xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb, bi\u1ebfn \u0111\u1ed9ng kinh t\u1ebf to\u00e0n c\u1ea7u v\u00e0 r\u1ee7i ro th\u01b0\u01a1ng m\u1ea1i gia t\u0103ng trong ba n\u0103m qua \u0111\u00e3 th\u00fac \u0111\u1ea9y c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm \u0111\u1ebfn c\u00e1c t\u00e0i s\u1ea3n tr\u00fa \u1ea9n an to\u00e0n truy\u1ec1n th\u1ed1ng nh\u01b0 v\u00e0ng v\u00e0 b\u1ea1c. H\u01a1n n\u1eefa, nh\u1eefng \u0111\u00f2n t\u1ea5n c\u00f4ng ng\u00e0y c\u00e0ng leo thang c\u1ee7a c\u1ef1u T\u1ed5ng th\u1ed1ng M\u1ef9 Trump v\u00e0o C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (Fed) trong n\u0103m nay \u0111\u00e3 tr\u1edf th\u00e0nh m\u1ed9t y\u1ebfu t\u1ed1 r\u1ee7i ro m\u1edbi.<\/p>\n

Th\u1ecb tr\u01b0\u1eddng b\u1ea1c th\u1eadm ch\u00ed c\u00f2n s\u00f4i \u0111\u1ed9ng h\u01a1n v\u1ec1 m\u1eb7t qu\u1ef9. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ti\u1ebfp t\u1ee5c \u0111\u1ed5 ti\u1ec1n v\u00e0o c\u00e1c qu\u1ef9 ETF b\u1ea1c, v\u1edbi l\u01b0\u1ee3ng n\u1eafm gi\u1eef \u0111\u00e3 t\u0103ng th\u00e1ng th\u1ee9 b\u1ea3y li\u00ean ti\u1ebfp v\u00e0o th\u00e1ng T\u00e1m. \u0110i\u1ec1u n\u00e0y tr\u1ef1c ti\u1ebfp d\u1eabn \u0111\u1ebfn s\u1ef1 s\u1ee5t gi\u1ea3m li\u00ean t\u1ee5c c\u1ee7a l\u01b0\u1ee3ng b\u1ea1c t\u1ed3n kho t\u1ef1 do giao d\u1ecbch tr\u00ean th\u1ecb tr\u01b0\u1eddng London, l\u00e0m n\u1ed5i b\u1eadt t\u00ecnh tr\u1ea1ng khan hi\u1ebfm ngu\u1ed3n cung tr\u00ean th\u1ecb tr\u01b0\u1eddng. L\u00e3i su\u1ea5t cho thu\u00ea, ph\u1ea3n \u00e1nh chi ph\u00ed vay b\u1ea1c ng\u1eafn h\u1ea1n, v\u1eabn \u1edf m\u1ee9c cao kho\u1ea3ng 2%, cao h\u01a1n nhi\u1ec1u so v\u1edbi m\u1ee9c b\u00ecnh th\u01b0\u1eddng g\u1ea7n b\u1eb1ng 0, kh\u1eb3ng \u0111\u1ecbnh s\u1ef1 khan hi\u1ebfm b\u1ea1c t\u1eeb g\u00f3c \u0111\u1ed9 t\u00e0i ch\u00ednh.<\/p>\n

\"h\u00ecnh<\/p>\n

Trong khi \u0111\u00f3, m\u1ed9t t\u00f2a ph\u00fac th\u1ea9m li\u00ean bang \u0111\u00e3 ra ph\u00e1n quy\u1ebft v\u00e0o th\u1ee9 S\u00e1u tu\u1ea7n tr\u01b0\u1edbc r\u1eb1ng thu\u1ebf quan to\u00e0n c\u1ea7u c\u1ee7a Trump, \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng theo lu\u1eadt kh\u1ea9n c\u1ea5p, l\u00e0 b\u1ea5t h\u1ee3p ph\u00e1p. Ph\u00e1n quy\u1ebft n\u00e0y kh\u00f4ng ch\u1ec9 l\u00e0m gia t\u0103ng s\u1ef1 b\u1ea5t \u1ed5n cho c\u00e1c nh\u00e0 nh\u1eadp kh\u1ea9u Hoa K\u1ef3 m\u00e0 c\u00f2n tr\u00ec ho\u00e3n vi\u1ec7c ph\u00e2n ph\u1ed1i c\u1ed5 t\u1ee9c kinh t\u1ebf \u0111\u00e3 h\u1ee9a c\u1ee7a ch\u00ednh ph\u1ee7, qua \u0111\u00f3 c\u1ee7ng c\u1ed1 th\u00eam gi\u00e1 tr\u1ecb tr\u00fa \u1ea9n an to\u00e0n c\u1ee7a kim lo\u1ea1i qu\u00fd. \u0110\u00e1ng ch\u00fa \u00fd, b\u1ea1c, nh\u1edd t\u00ednh ch\u1ea5t k\u00e9p trong c\u00f4ng nghi\u1ec7p v\u00e0 t\u00e0i ch\u00ednh, \u0111\u00e3 v\u01b0\u1ee3t tr\u1ed9i h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi v\u00e0ng trong n\u0103m nay.<\/p>\n

T\u00f3m t\u1eaft: S\u1ef1 \u0111\u00f3ng c\u1eeda h\u1ee3p l\u00fd c\u1ee7a th\u1ecb tr\u01b0\u1eddng kim lo\u1ea1i qu\u00fd t\u0103ng gi\u00e1 kh\u00e1c v\u1edbi k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng<\/h2>\n

Nh\u00ecn chung, hi\u1ec7u su\u1ea5t m\u1ea1nh m\u1ebd hi\u1ec7n t\u1ea1i tr\u00ean th\u1ecb tr\u01b0\u1eddng kim lo\u1ea1i qu\u00fd kh\u00f4ng ph\u1ea3i do m\u1ed9t y\u1ebfu t\u1ed1 \u0111\u01a1n l\u1ebb th\u00fac \u0111\u1ea9y, m\u00e0 l\u00e0 do logic \u0111a y\u1ebfu t\u1ed1: \u201cK\u1ef3 v\u1ecdng v\u1ec1 vi\u1ec7c Fed c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t \u2192 K\u1ef3 v\u1ecdng v\u1ec1 l\u00e3i su\u1ea5t th\u1ea5p h\u01a1n \u2192 \u0110\u1ecbnh gi\u00e1 l\u1ea1i t\u00e0i s\u1ea3n\u201d, \u201cNhu c\u1ea7u tr\u00fa \u1ea9n an to\u00e0n ng\u00e0y c\u00e0ng t\u0103ng \u2192 D\u00f2ng v\u1ed1n \u0111\u1ed5 v\u00e0o \u2192 C\u00e2n b\u1eb1ng cung-c\u1ea7u ch\u1eb7t ch\u1ebd\u201d v\u00e0 \u201cC\u00e1c thu\u1ed9c t\u00ednh c\u00f4ng nghi\u1ec7p c\u1ee7a b\u1ea1c \u2192 Thi\u1ebfu h\u1ee5t ngu\u1ed3n cung \u2192 L\u1ee3i nhu\u1eadn h\u00e0ng \u0111\u1ea7u\u201d. Tuy nhi\u00ean, k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1eabn c\u00f2n chia r\u1ebd: kh\u1ea3 n\u0103ng th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu 20% v\u1ec1 ch\u00ednh s\u00e1ch \u00f4n h\u00f2a c\u1ee7a Fed kh\u00e1c \u0111\u00e1ng k\u1ec3 so v\u1edbi \u0111\u00e1nh gi\u00e1 c\u1ee7a Morgan Stanley. B\u00e1o c\u00e1o b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p c\u1ee7a Hoa K\u1ef3 v\u00e0o th\u1ee9 S\u00e1u, c\u00e1c quy\u1ebft \u0111\u1ecbnh h\u1ecdp ti\u1ebfp theo c\u1ee7a Fed v\u00e0 c\u00e1c quy\u1ebft \u0111\u1ecbnh t\u01b0 ph\u00e1p li\u00ean quan \u0111\u1ebfn ch\u00ednh s\u00e1ch c\u1ee7a Trump s\u1ebd \u0111\u00f3ng vai tr\u00f2 l\u00e0 c\u00e1c y\u1ebfu t\u1ed1 ch\u00ednh trong vi\u1ec7c x\u00e1c th\u1ef1c nh\u1eefng k\u1ef3 v\u1ecdng n\u00e0y v\u00e0 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 v\u00e0ng v\u00e0 b\u1ea1c.<\/p>","protected":false},"excerpt":{"rendered":"

V\u00e0ng v\u00e0 b\u1ea1c \u0111\u1ea1t m\u1ee9c cao m\u1edbi trong n\u0103m 2025 khi Fed h\u1ea1 k\u1ef3 v\u1ecdng l\u00e3i su\u1ea5t, nhu c\u1ea7u tr\u00fa \u1ea9n an to\u00e0n v\u00e0 ngu\u1ed3n cung th\u1eaft ch\u1eb7t th\u00fac \u0111\u1ea9y gi\u00e1 kim lo\u1ea1i qu\u00fd t\u0103ng. Morgan Stanley d\u1ef1 b\u00e1o ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 \u00f4n h\u00f2a, th\u00fac \u0111\u1ea9y c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 v\u00e0o ETF, CFD v\u00e0 tr\u00e1i phi\u1ebfu kho b\u1ea1c.<\/p>","protected":false},"author":1,"featured_media":7880,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[115],"tags":[131,204,205],"class_list":["post-7879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-fed","tag-geopolitical-risk","tag-global-economic-volatility"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/7879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/comments?post=7879"}],"version-history":[{"count":1,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/7879\/revisions"}],"predecessor-version":[{"id":7885,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/7879\/revisions\/7885"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media\/7880"}],"wp:attachment":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media?parent=7879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/categories?post=7879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/tags?post=7879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}