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姝ゅ墠甯?jìng)鍦轰汉澹櫘閬嶉鏈熷Q屾柊鍏村競(jìng)鍦虹殑鍔ㄨ崱鍜岀編鍥?2鏈堝氨涓氭姤鍛婃瑺浣抽兘涓嶅お鍙兘闃繪緹庤仈鍌ㄤ粖澶╁墛鍑廞E錛屽嵆灝嗙浠葷殑浼崡鍏嬫棦鐒跺凡鍚姩鍓婂噺灝變細(xì)紼沖畾鍦版墽琛屼笅鍘伙紝闄ら潪緹庡浗緇忔祹鍑虹幇鏄捐憲鍙樺寲銆傚競(jìng)鍦哄姝ゅ垽鏂殑鐞嗙敱鏄幓騫?2鏈堜細(xì)璁互鏉ョ粡嫻庢暟鎹殑鏁翠綋鐘跺喌鏄悜濂界殑銆傛湰嬈′細(xì)璁槸浼崡鍏嬫渶鍚庝竴嬈′富鎸丗OMC璁伅錛屼笅涓湀濂充富甯�朵雞灝嗘垚涓鴻仈鍌ㄦ帉闂ㄣ�?
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铏界劧榪欎簺鍔姏姝ｅ湪鏀跺埌鍥炴姤錛屼絾涓庢鍚屾椂鍚勬柟鎷呭咖涔熷湪鎸佺畫澧為暱錛屽姝ゅぇ瑙勬ā鐨勫嵃閽炲彲鑳藉緇忔祹浜х敓浣曠瓑鍗卞銆傚幓騫?2鏈?8鏃ワ紝緹庤仈鍌ㄥ喅瀹氬紑濮嬬緝鍑廞E錛屽皢姣忔湀璧勪駭閲囪喘棰濅粠850浜跨編鍏冮檷鑷?50浜跨編鍏冦�傛嘗澹】Eaton Vance鐨勫熀閲戠粡鐞嗘柉鍧?Eric Stein)鍦ㄨ瘎浠風(fēng)編鑱斿偍浠婂ぉ鐨勮鍔ㄦ椂琛ㄧず錛氣�滃緢鏄庢樉錛岃仈鍌ㄥ笇鏈涚戶緇緝鍑廞E銆傗�?
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鏂板叴甯?jìng)鍦哄姩鑽?
浠婂ぉ緹庤仈鍌ㄦ斂絳栫殑鍑哄彴榪樻湁涓�涓笉鑳戒笉鎻愮殑鑳屾櫙錛氳繃鍘諱竴鍛ㄤ腑鏂板叴甯?jìng)鍦虹殑璧勪骇洵h(huán)鏍煎ぇ騫呬笅璺屻�備竴浜涗漢澹洜姝ゆ帹嫻嬶紝鑱斿偍鍙兘鏆傚仠緙╁噺QE銆傚懆浜屾櫄鍦熻�沖叾澶閲囧彇澶у箙璋冨崌鍒╃巼鐨勮鍔紝璧峰垵榪欎竴涓懼姩鏋佸ぇ瀹夋姎浜?jiǎn)浜氬お鍜寢僻娲插競(jìng)鍦哄Q屼絾姝ゅ悗鍗栧帇鍐嶅害鍏磋搗錛屽懆涓夌編鑲″紑鐩樺嵆璧頒綆銆?
鍒嗘瀽甯堟寚鍑猴紝緹庤仈鍌ㄥ彲鑳界緝鍑忓埡嬋�鏀跨瓥鍙槸瀵艱嚧鎶曡祫鑰呮亹鎱岀殑涓�涓洜绱狅紝涓浗緇忔祹澧為暱鏀劇紦銆佸湡鑰沖叾鑷蟲嘲鍥界瓑澶氫釜鍥藉鏀挎不鍔ㄨ崱鍦ㄦ柊鍏村競(jìng)鍦虹殑閲嶆尗涓壆婕斾簡(jiǎn)鏇撮噸瑕佽鑹層�?
涓�浜涚編鑱斿偍瑙傚療瀹舵寚鍑猴紝闄ら潪鏂板叴甯?jìng)鍦虹殑鎶涘崠婕斿寲湄?fù)涓�鍦虹湡姝ｇ殑鍗辨満錛岀編鍥藉ぎ琛屼笉澶彲鑳藉姝や綔鍑哄弽搴斻�傝仈鍌ㄥ墠瀹樺憳銆佺幇涓虹粡嫻庣爺絀跺叕鍙窩ornerstone Macro鍚堜紮浜虹殑浣╅噷(Roberto Perli)琛ㄧず錛氣�滃繀欏繪槸涓�鍦哄叏闈㈢殑鍗辨満錛屽嵆鎵�鏈夋柊鍏寸粡嫻庝綋閮藉嵎鍏ワ紝鑰屼笖灝嗗緹庡浗緇忔祹浜х敓瀹炶川鎬у獎(jiǎng)鍝嶃�傛垜鎯崇洰鍓嶈仈鍌ㄨ涓烘儏鍐佃繕娌″埌閭ｄ釜鍦版銆傗�濅粬榪樼О錛氣�滃緢鏄庢樉錛屽鑷存柊鍏撮噾铻嶅競(jìng)鍦洪櫡鍏ユ販涔辯殑鍘熷洜瀵硅仈鍌ㄥ啀搴︾緝鍑廞E鍙湁寰堝皬鐨勫獎(jiǎng)鍝嶏紝鐢氳嚦鏄病鏈夊獎(jiǎng)鍝嶃�傗�?
FOMC鍐呴儴涔熷茍闈炴病鏈変笉鍚屾剰瑙併�傝揪鎷夋柉鑱斿偍琛岄暱銆佷粖騫村叿鏈塅OMC鎶曠エ鏉冪殑璐硅垗灝?Richard Fisher)鏇捐〃紺猴紝浠栧笇鏈涚編鑱斿偍浠ユ洿澶у姏搴︾緝鍑廞E銆傚彟涓�鏂歸潰錛屾槑灝間簹娉㈠埄鏂仈鍌ㄨ闀褲�佷篃鎷ユ湁FOMC浠婂勾鎶曠エ鏉冪殑鏌枦鎷夋煰濉?Narayana Kocherlakota)鎸囧嚭錛屽簲鍔犲ぇ鑰屼笉鏄緝鍑忓埡嬋�鏀跨瓥銆備粬鍙兘鎴愪負(fù)浠婂ぉ澹版槑涓殑寮傝鑰呫�?
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