{"id":9584,"date":"2026-06-26T09:55:53","date_gmt":"2026-06-26T09:55:53","guid":{"rendered":"https:\/\/www.mdwcc.com\/?p=9584"},"modified":"2026-06-26T09:55:56","modified_gmt":"2026-06-26T09:55:56","slug":"the-pricing-logic-of-us-treasury-bonds-is-quietly-changing-and-the-warsh-reforms-are-reshaping-the-rules-of-the-global-market","status":"publish","type":"post","link":"https:\/\/www.mdwcc.com\/zh_hk\/the-pricing-logic-of-us-treasury-bonds-is-quietly-changing-and-the-warsh-reforms-are-reshaping-the-rules-of-the-global-market\/","title":{"rendered":"\u7f8e\u570b\u570b\u50b5\u5b9a\u50f9\u908f\u8f2f\u6b63\u5728\u6084\u6084\u6539\u8b8a\uff0c\u6c83\u4ec0\u6539\u9769\u6b63\u5728\u91cd\u5851\u5168\u7403\u5e02\u5834\u898f\u5247"},"content":{"rendered":"

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<\/a>\u4e09\uff0e\u91cd\u69cb\u71df\u904b\u9ad4\u7cfb\uff1a\u8cc7\u7522\u8ca0\u50b5\u8868\u201c\u7cbe\u6e96\u7626\u8eab\u201d\uff0c\u8cc7\u7522\u8ca0\u50b5\u8868\u6536\u7e2e\u908f\u8f2f\u5b8c\u6210\u8fed\u4ee3<\/strong><\/p>\n

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ACE Markets\u653f\u7b56\u7814\u7a76\u5718\u968a\u4f30\u8a08\uff0c\u806f\u6e96\u6703\u9f90\u5927\u7684\u8cc7\u7522\u8ca0\u50b5\u8868\u66b4\u9732\u51fa\u56db\u5927\u554f\u984c\uff1a\u6df1\u5ea6\u4ecb\u5165\u8ca1\u653f\u548c\u4fe1\u8cb8\u914d\u7f6e\uff0c\u4fb5\u8755\u8ca8\u5e63\u653f\u7b56\u7684\u7368\u7acb\u6027\uff1b\u6210\u70ba\u5e02\u5834\u56fa\u5b9a\u4ea4\u6613\u5c0d\u624b\u524a\u5f31\u5176\u91d1\u878d\u4e2d\u4ecb\u529f\u80fd\uff1b\u64e0\u58d3\u5371\u6a5f\u671f\u9593\u8cc7\u7522\u8ca0\u50b5\u8868\u64f4\u5f35\u7684\u7de9\u885d\u7a7a\u9593\uff1b\u4e26\u9762\u81e8\u5de8\u984d\u8cec\u9762\u640d\u5931\u7684\u98a8\u96aa\u3002\u4e0d\u904e\uff0c\u806f\u6e96\u6703\u7c73\u862d\u7814\u7a76\u6240\u7814\u7a76\u4eba\u54e1\u7684\u8a08\u7b97\u8868\u660e\uff0c\u524a\u6e1b\u8cc7\u7522\u8ca0\u50b5\u88681\u5146\u81f32\u5146\u7f8e\u5143\u662f\u5b8c\u5168\u53ef\u884c\u7684\uff0c\u800c\u4e14\u4e0d\u6703\u5c0d\u5e02\u5834\u9020\u6210\u5287\u70c8\u885d\u64ca\u3002\u6838\u5fc3\u5728\u65bc\u8207\u4e4b\u76f8\u4f34\u7684\u9700\u6c42\u9762\u6539\u9769\uff1a\u900f\u904e\u7c21\u5316\u8cbc\u73fe\u7a97\u53e3\u898f\u5b9a\u3001\u6d88\u9664\u8cbc\u73fe\u7a97\u53e3\u300c\u6c61\u540d\u300d\u3001\u8abf\u6574\u653f\u7b56\u5229\u5dee\u7b49\u65b9\u5f0f\u6e1b\u5c11\u9280\u884c\u5c0d\u592e\u884c\u6e96\u5099\u91d1\u7684\u4f9d\u8cf4\u3002<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20260623_164254\"<\/p>\n

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<\/a>\u56db\uff0e\u91cd\u5851\u4ea4\u6613\u908f\u8f2f\uff1a\u7f8e\u570b\u570b\u50b5\u5e02\u5834\u6b63\u9032\u5165\u4e09\u500b\u65b0\u5178\u7bc4<\/strong><\/p>\n

\u6c83\u4ec0\u5e36\u982d\u7684\u7cfb\u7d71\u6027\u6539\u9769\u4e0d\u50c5\u662f\u653f\u7b56\u548c\u6280\u8853\u8abf\u6574\uff0c\u66f4\u662f\u5168\u7403\u8cc7\u7522\u5b9a\u50f9\u57fa\u672c\u898f\u5247\u7684\u91cd\u5851\u3002 ACE Markets\u7684\u8de8\u9031\u671f\u8a55\u4f30\u6a21\u578b\u986f\u793a\uff0c\u5e02\u5834\u4e0a\u4e09\u5927\u4ea4\u6613\u7bc4\u5f0f\u7684\u8f49\u8b8a\u5df2\u9010\u6f38\u986f\u73fe\uff1a<\/p>\n

    \n
  1. \u4ea4\u6613\u4e3b\u65cb\u5f8b\u5f9e\u201c\u653f\u7b56\u9810\u671f\u535a\u5f08\u201d\u8f49\u5411\u201c\u9ad8\u983b\u6578\u64da\u535a\u5f08\u201d <\/strong>\u3002\u96a8\u8457\u524d\u77bb\u6027\u6307\u5f15\u7684\u64a4\u92b7\uff0c\u5e02\u5834\u5931\u53bb\u4e86\u660e\u78ba\u7684\u653f\u7b56\u9328\u3002\u6bcf\u4e00\u6b21\u975e\u8fb2\u696d\u5c31\u696d\u6578\u64da\u3001CPI \u548c PCE \u6578\u64da\u7684\u767c\u5e03\u90fd\u6703\u5f15\u767c\u50f9\u683c\u7684\u5927\u5e45\u8abf\u6574\u3002\u6578\u64da\u9a45\u52d5\u7684\u5e02\u5834\u8d70\u52e2\u6b0a\u91cd\u986f\u8457\u63d0\u5347\uff0c\u6ce2\u6bb5\u4ea4\u6613\u7684\u50f9\u503c\u9060\u8d85\u8da8\u52e2\u6301\u6709\u3002<\/li>\n
  2. \u901a\u81a8\u5b9a\u50f9\u6b63\u5f9e\u300c\u55ae\u4e00\u76ee\u6a19\u9328\u5b9a\u300d\u8f49\u5411\u300c\u5340\u9593\u5f48\u6027\u5b9a\u50f9\u300d\u3002 <\/strong>2%\u4e0d\u518d\u662f\u7d55\u5c0d\u7684\u653f\u7b56\u7d05\u7dda\uff1b\u5e02\u5834\u5c0d\u901a\u81a8\u7684\u627f\u53d7\u7bc4\u570d\u5c07\u9010\u6b65\u64f4\u5927\uff0c\u901a\u81a8\u9810\u671f\u7684\u6ce2\u52d5\u5c07\u9032\u4e00\u6b65\u653e\u5927\u5229\u7387\u8b8a\u52d5\u7684\u5f48\u6027\u3002 \u300c\u9054\u5230\u901a\u81a8\u76ee\u6a19\u5c31\u964d\u606f\u300d\u7684\u50b3\u7d71\u7dda\u6027\u908f\u8f2f\u4e0d\u518d\u6210\u7acb\u3002<\/li>\n
  3. \u7b56\u7565\u504f\u597d\u6b63\u5728\u5f9e\u300c\u88ab\u52d5\u6301\u6709\u8f15\u9b06\u7372\u5229\u300d\u8f49\u5411\u300c\u4e3b\u52d5\u7ba1\u7406\u7372\u5229\u300d\u3002 <\/strong>\u5728\u9ad8\u5ea6\u6ce2\u52d5\u7684\u74b0\u5883\u4e0b\uff0c\u88ab\u52d5\u6301\u6709\u50b5\u5238\u7684\u8cc7\u672c\u5229\u5f97\u7684\u4e0d\u78ba\u5b9a\u6027\u986f\u8457\u589e\u52a0\uff0c\u800c\u4f9d\u9760\u6ce2\u6bb5\u4ea4\u6613\u548c\u66f2\u7dda\u4ea4\u6613\u7684\u4e3b\u52d5\u7ba1\u7406\u7b56\u7565\u7684\u7372\u5229\u6f5b\u529b\u986f\u8457\u64f4\u5927\u3002\u7f8e\u570b\u570b\u50b5\u5e02\u5834\u7684\u300c\u4ea4\u6613\u5c6c\u6027\u300d\u5c07\u5f37\u65bc\u300c\u914d\u7f6e\u5c6c\u6027\u300d\u3002<\/li>\n<\/ol>\n

    ACE Markets\u5c07\u7e7c\u7e8c\u900f\u904e\u653f\u7b56\u8ffd\u8e64\u77e9\u9663\u76e3\u6e2c\u4e09\u500b\u95dc\u9375\u91cc\u7a0b\u7891\uff1a7\u6708FOMC\u6703\u8b70\u6e9d\u901a\u6a5f\u5236\u9032\u4e00\u6b65\u8abf\u6574\u7684\u8a0a\u865f\u3001\u901a\u81a8\u6846\u67b6\u6539\u9769\u7684\u5b98\u65b9\u6587\u4ef6\u548c\u5be6\u65bd\u6642\u9593\u8868\u3001\u8cc7\u7522\u8ca0\u50b5\u8868\u7e2e\u6e1b\u512a\u5316\u8a08\u756b\u7684\u5177\u9ad4\u7d30\u7bc0\u548c\u7bc0\u594f\uff0c\u5e6b\u52a9\u6295\u8cc7\u8005\u5373\u6642\u6355\u6349\u898f\u5247\u8b8a\u5316\u4e2d\u7684\u6a5f\u6703\u548c\u98a8\u96aa\u3002<\/p>","protected":false},"excerpt":{"rendered":"

    \u7531\u65bc\u6c83\u4ec0\u9818\u5c0e\u4e0b\u7684\u806f\u6e96\u6703\u653f\u7b56\u8f49\u8b8a\u53d6\u6d88\u4e86\u524d\u77bb\u6027\u6307\u5f15\uff0c\u52a0\u5287\u4e86\u6ce2\u52d5\u6027\u4e26\u91cd\u5851\u4e86\u901a\u81a8\u548c\u8cc7\u7522\u8ca0\u50b5\u8868\u898f\u5247\uff0c\u7f8e\u570b\u516c\u50b5\u6b96\u5229\u7387\u7dad\u6301\u5728 4.5% \u4ee5\u4e0a\u3002<\/p>","protected":false},"author":1,"featured_media":9585,"comment_status":"closed","ping_status":"closed","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":[806,135,807],"class_list":["post-9584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-bond-yields","tag-federal-reserve","tag-us-treasury"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mdwcc.com\/zh_hk\/wp-json\/wp\/v2\/posts\/9584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mdwcc.com\/zh_hk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mdwcc.com\/zh_hk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/zh_hk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/zh_hk\/wp-json\/wp\/v2\/comments?post=9584"}],"version-history":[{"count":1,"href":"https:\/\/www.mdwcc.com\/zh_hk\/wp-json\/wp\/v2\/posts\/9584\/revisions"}],"predecessor-version":[{"id":9589,"href":"https:\/\/www.mdwcc.com\/zh_hk\/wp-json\/wp\/v2\/posts\/9584\/revisions\/9589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/zh_hk\/wp-json\/wp\/v2\/media\/9585"}],"wp:attachment":[{"href":"https:\/\/www.mdwcc.com\/zh_hk\/wp-json\/wp\/v2\/media?parent=9584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mdwcc.com\/zh_hk\/wp-json\/wp\/v2\/categories?post=9584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mdwcc.com\/zh_hk\/wp-json\/wp\/v2\/tags?post=9584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}