{"id":3937,"date":"2025-03-15T00:55:16","date_gmt":"2025-03-14T16:55:16","guid":{"rendered":"https:\/\/www.dm-yq.com\/?p=3937"},"modified":"2025-03-15T00:55:16","modified_gmt":"2025-03-14T16:55:16","slug":"%e5%8c%ba%e5%9d%97%e9%93%be%e4%b8%8a%e7%9a%84%e5%88%a9%e5%b7%ae%e4%ba%a4%e6%98%93%e6%94%b6%e7%9b%8a","status":"publish","type":"post","link":"https:\/\/www.dm-yq.com\/?p=3937","title":{"rendered":"\u533a\u5757\u94fe\u4e0a\u7684\u5229\u5dee\u4ea4\u6613\u6536\u76ca"},"content":{"rendered":"

\n\t\"\"
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\n\t\u4e00\u9879\u8d44\u4ea7\u7684Carry\uff0c\u4ee3\u8868\u6301\u6709\u5b83\u6240\u80fd\u83b7\u5f97\u7684\u62a5\u916c\u6216\u6240\u9700\u4ed8\u51fa\u7684\u6210\u672c\u3002\u8b6c\u5982\uff0c\u6301\u6709\u8d27\u5e01\uff0c\u4f60\u4f1a\u5f97\u5230\u5b83\u7684\u5229\u606f(\u5b58\u5728\u94f6\u884c)\u3002\u8b6c\u5982\uff0c\u6301\u6709\u5b9e\u4f53\u539f\u6cb9\uff0c\u4f60\u5fc5\u9700\u4ed8\u51fa\u4ed3\u50a8\u6210\u672c\u3002\u8fd9\u4e9b\u83b7\u5229\u4e0e\u652f\u51fa\uff0c\u5c31\u662f\u8d27\u5e01\u4e0e\u539f\u6cb9\u7684Carry\u3002<\/p>\n

\n\t\u5f53\u4e24\u9879\u4e0d\u540c\u7684\u8d44\u4ea7\uff0c\u6301\u6709\u5b83\u4eec\u5206\u522b\u6709\u9ad8\u4f4e\u4e0d\u540c\u7684\u83b7\u5229\u65f6\uff0c\u8fd9\u5c31\u5f62\u6210\u5229\u5dee\u4ea4\u6613\u7684\u57fa\u7840\u3002\u6295\u8d44\u4eba\u53ef\u4ee5\u653e\u7a7a\u4f4e\u83b7\u5229\u7684\u8d44\u4ea7(\u5c31\u662f\u5148\u5356\u51fa)\uff0c\u7136\u540e\u4ee5\u53d6\u5f97\u7684\u8d44\u91d1\uff0c\u4e70\u8fdb\u9ad8\u83b7\u5229\u7684\u8d44\u4ea7\u3002\u90a3\u4e48\u4ed6\u5c31\u6709\u673a\u4f1a\u8d5a\u53d6\u8fd9\u4e24\u4e2a\u4e0d\u540c\u8d44\u4ea7\u95f4\u7684\u5229\u5dee\u3002<\/p>\n

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\n\t\u800c\u5229\u5dee\u4ea4\u6613(Carry trade)\u4e00\u8bcd\uff0c\u8fd1\u6765\u5728\u8d22\u7ecf\u5a92\u4f53\u4e0a\u6240\u6307\u79f0\u7684\uff0c\u51e0\u4e4e\u90fd\u662f\u6307\u8d27\u5e01\u5229\u5dee\u4ea4\u6613(Currency carry trade)\u3002\u5b83\u7684\u539f\u7406\u5c31\u662f\uff0c\u6295\u8d44\u4eba\u501f\u4f4e\u5229\u7387\u8d27\u5e01\uff0c\u7136\u540e\u5c06\u8d44\u91d1\u8f6c\u6362\u6210\u9ad8\u5229\u7387\u8d27\u5e01\uff0c\u8fd9\u6837\u4ed6\u5c31\u6709\u673a\u4f1a\u8d5a\u53d6\u4e24\u8005\u95f4\u7684\u5229\u606f\u5dee\u5f02\u3002<\/p>\n

\n\t\u8fd1\u5e74\u6765\u65e5\u5e01\u4e00\u76f4\u7ef4\u6301\u5728\u96f6\u5229\u7387\u72b6\u6001\uff0c\u4e5f\u56e0\u6b64\u65e5\u5e01\u6210\u4e3a\u5916\u5e01\u5229\u5dee\u4ea4\u6613\u6700\u5e38\u88ab\u501f\u51fa\u7684\u8d27\u5e01\u3002
\n\t\u8b6c\u5982\uff0c\u6295\u8d44\u4eba\u53ef\u4ee5\u501f\u65e5\u5143\uff0c\u7136\u540e\u5c06\u8d44\u91d1\u8f6c\u6210\u5357\u975e\u5e01\u6216\u6fb3\u5e01\u7b49\u5229\u606f\u8f83\u9ad8\u7684\u8d27\u5e01\uff0c\u90a3\u4e48\u4ed6\u4fbf\u6709\u673a\u4f1a\u8d5a\u53d6\u65e5\u5e01\u4e0e\u9ad8\u606f\u8d27\u5e01\u95f4\u7684\u5229\u5dee\u3002<\/p>\n

\n\t\u4f46\u8fd9\u79cd\u9488\u5bf9\u8d27\u5e01\u7684Carry trade\uff0c\u4e5f\u5e38\u88ab\u7ffb\u8bd1\u6210\u5916\u6c47\u5957\u5229\u4ea4\u6613\u3002\u8fd9\u662f\u4e00\u4e2a\u8bef\u89e3\u3002Carry trade\u4e0d\u662fArbitrage\uff0c\u5229\u5dee\u4ea4\u6613\u4e0d\u662f\u5957\u5229\u4ea4\u6613\u3002\u5229\u5dee\u4ea4\u6613\u65e0\u6cd5\u4fdd\u8bc1\u83b7\u5229\uff0c\u5b83\u6709\u660e\u663e\u7684\u98ce\u9669\u3002\u5c31\u4ee5\u521a\u624d\u7684\u501f\u51fa\u65e5\u5e01\u4e70\u8fdb\u6fb3\u5e01\u7684\u4f8b\u5b50\u6765\u8bf4\uff0c\u5047\u5982\u65e5\u5e01\u5bf9\u6fb3\u5e01\u5347\u503c\uff0c\u53ea\u8981\u5347\u503c\u5e45\u5ea6\u9ad8\u8fc7\u4e24\u8005\u7684\u5229\u7387\u5dee\uff0c\u90a3\u4e48\u5229\u5dee\u4ea4\u6613\u7684\u9884\u671f\u83b7\u5229\u5c31\u4f1a\u88ab\u5b8c\u5168\u541e\u566c\uff0c\u751a\u81f3\u53d8\u6210\u4e8f\u635f\u3002<\/p>\n

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