\u5728\u5168\u7403\u8d38\u6613\u6218\u5347\u6e29\u3001\u5173\u7a0e\u538b\u529b\u52a0\u5267\u4e4b\u9645\uff0c\u5e01\u5b89\u7814\u7a76\u9662\u70b9\u51fa\u7275\u52a8\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u672a\u6765\u8d70\u52bf\u7684 5 \u5927\u5173\u952e\u53d8\u6570\uff0c\u5f3a\u8c03\u6bd4\u7279\u5e01\u82e5\u80fd\u91cd\u5851\u300c\u907f\u9669\u8d44\u4ea7\u300d\u5b9a\u4f4d\uff0c\u4ecd\u6709\u671b\u5728\u9707\u8361\u4e2d\u5bfb\u5f97\u589e\u957f\u52a8\u80fd\u3002
\n
<\/p>\n
\u968f\u8457\u5168\u7403\u8d38\u6613\u6218\u5168\u9762\u5f00\u6253\uff0c\u5e02\u573a\u60c5\u7eea\u6025\u51bb\u3001\u98ce\u9669\u6027\u8d44\u4ea7\u9996\u5f53\u5176\u51b2\uff0c\u52a0\u5bc6\u8d27\u5e01\u4e5f\u65e0\u6cd5\u5e78\u514d\u3002\u5e01\u5b89\u7814\u7a76\u9662\uff08Binance Research\uff09\u6700\u65b0\u62a5\u544a\u6307\u51fa\uff0c\u867d\u7136\u77ed\u671f\u5185\u5e02\u573a\u9707\u8361\u96be\u514d\uff0c\u4f46\u5982\u679c\u6bd4\u7279\u5e01\u80fd\u91cd\u65b0\u786e\u7acb\u81ea\u8eab\u4f5c\u4e3a\u300c\u907f\u9669\u8d44\u4ea7\u300d\u7684\u5e02\u573a\u5b9a\u4f4d\uff0c\u4ecd\u6709\u671b\u8fce\u6765\u4e0b\u4e00\u6ce2\u589e\u957f\u3002<\/p>\n
\u6bd4\u7279\u5e01\u4ecd\u5177\u97e7\u6027\uff0c\u907f\u9669\u53d9\u4e8b\u53ef\u671b\u91cd\u5efa<\/p>\n
\u5e01\u5b89\u7814\u7a76\u9662\u62a5\u544a\u6307\u51fa\uff0c\u5373\u4f7f\u5728\u8fd1\u671f\u5173\u7a0e\u5347\u7ea7\u6d88\u606f\u51b2\u51fb\u4e0b\uff0c\u6bd4\u7279\u5e01\u4ecd\u5c55\u73b0\u51fa\u76f8\u5bf9\u97e7\u6027\uff0c\u5f53\u4f20\u7edf\u98ce\u9669\u8d44\u4ea7\u5267\u70c8\u9707\u8361\u65f6\uff0c\u6bd4\u7279\u5e01\u591a\u6b21\u8868\u73b0\u51fa\u7a33\u5b9a\u6216\u53cd\u5f39\u7684\u8d70\u52bf\u3002<\/p>\n
\u53e6\u4e00\u65b9\u9762\uff0c\u62a5\u544a\u8fd8\u63d0\u5230\uff0c\u957f\u671f\u6301\u6709\u8005\u7684\u6d41\u901a\u91cf\u6301\u7eed\u4e0a\u5347 \uff0c\u663e\u793a\u5e02\u573a\u4fe1\u5fc3\u672a\u53d7\u52a8\u6447\u3002\u5e01\u5b89\u7814\u7a76\u9662\u5206\u6790\uff0c\u8fd9\u53ef\u80fd\u4e3a\u6bd4\u7279\u5e01\u91cd\u65b0\u5960\u5b9a\u300c\u907f\u9669\u8d44\u4ea7\u300d\u7684\u89d2\u8272\u800c\u94fa\u8def\uff0c\u5373\u4fbf\u77ed\u671f\u5185\u4ecd\u6709\u6ce2\u52a8\u538b\u529b\u3002<\/p>\n
\u62a5\u544a\u8fdb\u4e00\u6b65\u6307\u51fa\uff0c\u82e5\u8054\u51c6\u4f1a\uff08Fed\uff09\u542f\u52a8\u964d\u606f\u5faa\u73af\u3001\u52a0\u4e0a\u901a\u81a8\u6301\u7eed\u9ad8\u6863\uff0c\u6bd4\u7279\u5e01\u6709\u671b\u518d\u5ea6\u88ab\u89c6\u4e3a\u5bf9\u6297\u901a\u81a8\u7684\u300c\u786c\u901a\u8d27\u300d\u3002\u4e0d\u8bba\u662f\u771f\u5b9e\u6548\u7528\uff0c\u6216\u662f\u5e02\u573a\u53d9\u4e8b\u5851\u9020\uff0c\u90fd\u53ef\u80fd\u91cd\u65b0\u5438\u5f15\u6295\u8d44\u4eba\u76ee\u5149\u3002<\/p>\n
5 \u5927\u5173\u952e\u53d8\u6570\uff0c\u7275\u52a8\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u8d70\u52bf\u00a0<\/p>\n
\u5e01\u5b89\u7814\u7a76\u9662\u5728\u62a5\u544a\u4e2d\u5f52\u7eb3\u51fa\u672a\u6765\u51e0\u4e2a\u6708\u9700\u5bc6\u5207\u5173\u6ce8\u7684 5 \u5927\u5173\u952e\u53d8\u6570\uff0c\u8fd9\u4e9b\u56e0\u7d20\u5c06\u51b3\u5b9a\u52a0\u5bc6\u5e02\u573a\u80fd\u5426\u7a81\u7834\u91cd\u56f4\uff0c\u6216\u9677\u5165\u957f\u671f\u538b\u529b\uff1a<\/p>\n
1. \u8d38\u6613\u6218\u8fdb\u5c55\u00a0<\/p>\n
\u5305\u62ec\u5173\u7a0e\u6e05\u5355\u6269\u5927\u3001\u8c08\u5224\u53d6\u5f97\u8fdb\u5c55\u6216\u7834\u88c2\uff0c\u90fd\u53ef\u80fd\u6210\u4e3a\u5de6\u53f3\u901a\u81a8\u9884\u671f\u4e0e\u8d44\u91d1\u8d70\u5411\u7684\u5173\u952e\u3002\u653f\u7b56\u8baf\u53f7\u7ecf\u5e38\u51fa\u5176\u4e0d\u610f\uff0c\u52a0\u5bc6\u8d44\u4ea7\u5c06\u540c\u6b65\u627f\u53d7\u6ce2\u52a8\u538b\u529b\u3002<\/p>\n
2. \u6838\u5fc3\u901a\u81a8\u6570\u636e\u00a0<\/p>\n
\u5373\u5c06\u53d1\u5e03\u7684\u6d88\u8d39\u8005\u7269\u4ef7\u6307\u6570\uff08CPI\uff09\u3001\u4e2a\u4eba\u6d88\u8d39\u652f\u51fa\uff08PCE\uff09\u6570\u636e\u5c06\u5907\u53d7\u5173\u6ce8\u3002<\/p>\n
\u82e5\u901a\u81a8\u518d\u5ea6\u7206\u51b2\uff0c\u5c06\u5f15\u53d1\u505c\u6ede\u6027\u901a\u81a8\u7591\u8651\uff1b\u53cd\u4e4b\uff0c\u6570\u636e\u75b2\u5f31\u5219\u53ef\u80fd\u51cf\u8f7b\u653f\u7b56\u538b\u529b\uff0c\u652f\u6301\u66f4\u9e3d\u6d3e\u7684\u653f\u7b56\u524d\u666f\uff0c\u63d0\u632f\u5305\u62ec\u52a0\u5bc6\u8d27\u5e01\u5728\u5185\u7684\u98ce\u9669\u8d44\u4ea7\u3002<\/p>\n
3. \u5168\u7403\u7ecf\u6d4e\u653e\u7f13\uff1a\u53cc\u9762\u5f71\u54cd\u98ce\u9669\u8d44\u4ea7<\/p>\n
\u7ecf\u6d4e\u653e\u7f13\u7684\u8ff9\u8c61\u2014\u2014 \u4f8b\u5982\uff1a\u6d88\u8d39\u8005\u4fe1\u5fc3\u51cf\u5f31\u3001\u5546\u4e1a\u6d3b\u52a8\u4e0b\u964d\uff08\u91c7\u8d2d\u7ecf\u7406\u4eba\u6307\u6570\uff0cPMIs\uff09\u3001\u52b3\u52a8\u5e02\u573a\u75b2\u8f6f\uff08\u5931\u4e1a\u7533\u8bf7\u4e0a\u5347\u6216\u5c31\u4e1a\u589e\u957f\u653e\u7f13\uff09\u3001\u4f01\u4e1a\u76c8\u4f59\u4e0b\u8c03\u6216\u6536\u76ca\u66f2\u7ebf\u5012\u6302\uff08\u7ecf\u5e38\u88ab\u89c6\u4e3a\u8870\u9000\u8baf\u53f7\uff09\u2014\u2014 \u53ef\u80fd\u4f1a\u5728\u77ed\u671f\u5185\u5f15\u53d1\u907f\u9669\u60c5\u7eea\u3002<\/p>\n
\u7136\u800c\uff0c\u603b\u4f53\u7ecf\u6d4e\u7684\u6df1\u5ea6\u75b2\u8f6f\u4e5f\u53ef\u80fd\u52a0\u901f\u5e02\u573a\u5bf9\u653f\u7b56\u653e\u5bbd\u7684\u9884\u671f\uff0c\u8fd9\u6700\u7ec8\u53ef\u80fd\u5bf9\u52a0\u5bc6\u8d27\u5e01\u6709\u5229\u3002<\/p>\n
4. \u592e\u884c\u653f\u7b56\u52a8\u5411<\/p>\n
\u7f8e\u56fd\u8054\u51c6\u4f1a\uff08Fed\uff09\u82e5\u5728\u7ecf\u6d4e\u653e\u7f13\u65f6\u4ecd\u7ef4\u6301\u9e70\u6d3e\u7acb\u573a\uff0c\u5c06\u8fdb\u4e00\u6b65\u65bd\u538b\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u3002\u53cd\u4e4b\uff0c\u4e00\u65e6\u653f\u7b56\u8f6c\u9e3d\u3001\u5b9e\u8d28\u5229\u7387\u4e0b\u6ed1\uff0c\u53ef\u80fd\u91ca\u653e\u5927\u91cf\u6d41\u52a8\u6027\uff0c\u63a8\u52a8\u52a0\u5bc6\u8d44\u4ea7\u53cd\u5f39\u3002<\/p>\n
\u6b64\u5916\uff0c\u5404\u592e\u884c\u653f\u7b56\u5206\u6b67\u4e5f\u53ef\u80fd\u5bfc\u81f4\u8d44\u91d1\u8de8\u5883\u6d41\u52a8\uff0c\u8fdb\u4e00\u6b65\u52a0\u5267\u5e01\u5e02\u6ce2\u52a8\u6027\u3002<\/p>\n
5. \u52a0\u5bc6\u4ea7\u4e1a\u653f\u7b56<\/p>\n
\u4f8b\u5982 ETF \u6838\u51c6\u3001\u6bd4\u7279\u5e01\u6218\u7565\u50a8\u5907\u3001\u5173\u952e\u52a0\u5bc6\u8d27\u5e01\u6cd5\u6848\u7684\u901a\u8fc7\u53ca\u5176\u4ed6\u76d1\u7ba1\u53d8\u52a8\uff0c\u90fd\u53ef\u80fd\u4e3a\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6ce8\u5165\u300c\u539f\u751f\u50ac\u5316\u5242\u300d\uff0c\u6446\u8131\u5bf9\u603b\u7ecf\u56e0\u7d20\u7684\u8fc7\u5ea6\u4f9d\u8d56\u3002<\/p>\n
\u4f46\u62a5\u544a\u4e5f\u63d0\u9192\uff0c\u82e5\u76d1\u7ba1\u8fdb\u5c55\u505c\u6ede\u3001\u8bc9\u8bbc\u4e89\u8bae\u60ac\u800c\u672a\u51b3\uff0c\u8fd9\u4e9b\u98ce\u9669\u4ecd\u53ef\u80fd\u53cd\u5411\u538b\u5236\u5e02\u573a\u60c5\u7eea\u3002<\/p>\n
\u7ed3\u8bed\uff1a\u9707\u8361\u4ecd\u5728\uff0c\u84c4\u52bf\u5f85\u53d1<\/p>\n
\u5e01\u5b89\u7814\u7a76\u9662\u603b\u7ed3\u6307\u51fa\uff0c\u82e5\u5168\u7403\u603b\u4f53\u7ecf\u6d4e\u73af\u5883\u9010\u6b65\u8d8b\u7a33\u3001\u52a0\u5bc6\u53d9\u4e8b\u6210\u5f62\uff0c\u6bd4\u7279\u5e01\u4f5c\u4e3a\u957f\u7ebf\u907f\u9669\u5de5\u5177\u7684\u89d2\u8272\u6709\u671b\u91cd\u65b0\u786e\u7acb\uff0c\u5e76\u5f00\u542f\u65b0\u4e00\u8f6e\u6210\u957f\u5faa\u73af\u3002\u4e0d\u8fc7\u5728\u6b64\u4e4b\u524d\uff0c\u5e02\u573a\u53ef\u80fd\u4ecd\u5904\u4e8e\u9707\u8361\u533a\u95f4\u3002\u6295\u8d44\u4eba\u5e94\u4fdd\u6301\u5f39\u6027\u3001\u5bc6\u5207\u5173\u6ce8\u5173\u952e\u6570\u636e\u4e0e\u653f\u7b56\u52a8\u5411\uff0c\u624d\u80fd\u5728\u8fd9\u573a\u8d44\u672c\u91cd\u7ec4\u7684\u98ce\u66b4\u4e2d\u627e\u5230\u4e0b\u4e00\u4e2a\u673a\u4f1a\u70b9\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"
\u5728\u5168\u7403\u8d38\u6613\u6218\u5347\u6e29\u3001\u5173\u7a0e\u538b\u529b\u52a0\u5267\u4e4b\u9645\uff0c\u5e01\u5b89\u7814\u7a76\u9662\u70b9\u51fa\u7275\u52a8\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u672a\u6765\u8d70\u52bf\u7684 5 \u5927\u5173\u952e\u53d8\u6570\uff0c\u5f3a\u8c03\u6bd4\u7279\u5e01\u82e5\u80fd\u91cd…<\/p>\n","protected":false},"author":3,"featured_media":5985,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-6597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/posts\/6597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6597"}],"version-history":[{"count":1,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/posts\/6597\/revisions"}],"predecessor-version":[{"id":9170,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/posts\/6597\/revisions\/9170"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/media\/5985"}],"wp:attachment":[{"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}