{"id":382220,"date":"2021-05-12T17:10:22","date_gmt":"2021-05-13T00:10:22","guid":{"rendered":"https:\/\/nai500.com\/?p=382220"},"modified":"2021-05-14T11:00:52","modified_gmt":"2021-05-14T18:00:52","slug":"%e5%80%ba%e5%88%b8-%e7%9f%a5%e8%af%86-%e5%85%a5%e9%97%a81-%e4%bb%80%e4%b9%88%e6%98%af-%e5%80%ba%e5%88%b8","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2021\/05\/%e5%80%ba%e5%88%b8-%e7%9f%a5%e8%af%86-%e5%85%a5%e9%97%a81-%e4%bb%80%e4%b9%88%e6%98%af-%e5%80%ba%e5%88%b8\/","title":{"rendered":"\u503a\u5238\u77e5\u8bc6\u5165\u95e81\uff1a\u4ec0\u4e48\u662f\u503a\u5238\uff1f"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">\u503a\u5238\u662f\u4e00\u79cd<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/f\/fixed-incomesecurity.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u56fa\u5b9a\u6536\u76ca\u5de5\u5177<\/span><\/a><span style=\"font-weight: 400;\">\uff0c\u4ee3\u8868\u6295\u8d44\u8005\u5411\u501f\u6b3e\u4eba\uff08\u901a\u5e38\u662f\u516c\u53f8\u6216\u653f\u5e9c\uff09\u63d0\u4f9b\u7684\u8d37\u6b3e\u3002\u503a\u5238\u53ef\u4ee5\u88ab\u8ba4\u4e3a\u662f<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/l\/lender.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u8d37\u6b3e\u4eba<\/span><\/a><span style=\"font-weight: 400;\">\u548c\u501f\u6b3e\u4eba\u4e4b\u95f4\u7684<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/i\/iou.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u6211\u6b20\u4f60<\/span><\/a><span style=\"font-weight: 400;\">\u5173\u7cfb\uff0c\u5305\u62ec\u8d37\u6b3e\u660e\u7ec6\u548c\u4ed8\u6b3e\u3002\u503a\u5238\u88ab\u516c\u53f8\u3001\u5e02\u653f\u5f53\u5c40\u3001\u5dde\u548c\u4e3b\u6743\u653f\u5e9c\u7528\u6765\u4e3a\u9879\u76ee\u548c\u4e1a\u52a1\u878d\u8d44\u3002\u503a\u5238\u7684\u6240\u6709\u8005\u662f\u53d1\u884c\u4eba\u7684\u503a\u52a1\u4eba\uff0c\u6216\u503a\u6743\u4eba\u3002\u503a\u5238\u660e\u7ec6\u5305\u62ec\uff1a<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/p\/principal.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u8d37\u6b3e\u672c\u91d1<\/span><\/a><span style=\"font-weight: 400;\">\u5e94\u652f\u4ed8\u7ed9\u503a\u5238\u6240\u6709\u8005\u7684\u5230\u671f\u65e5\uff0c\u5e76\u4e14\u901a\u5e38\u5305\u62ec\u501f\u6b3e\u4eba\u652f\u4ed8\u7684<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/v\/variableinterestrate.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u53ef\u53d8<\/span><\/a><span style=\"font-weight: 400;\">\u6216<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/f\/fixedinterestrate.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u56fa\u5b9a\u5229\u606f<\/span><\/a><span style=\"font-weight: 400;\">\u6761\u6b3e\u3002<\/span><\/p>\n<p>\u672c\u6587\u5171\u6709\u56db\u4e2a\u90e8\u5206\uff0c\u5728\u6b64\u67e5\u770b\u672c\u6587\u7684<strong><a href=\"https:\/\/nai500.com\/zh-hans\/blog\/2021\/05\/%e5%80%ba%e5%88%b8-%e7%9f%a5%e8%af%86-%e5%85%a5%e9%97%a82-%e5%80%ba%e5%88%b8-%e6%9c%89%e5%93%aa%e4%ba%9b-%e7%a7%8d%e7%b1%bb\/\" target=\"_blank\" rel=\"noopener\">\u7b2c\u4e8c\u90e8\u5206<\/a><\/strong>\u3001<strong><a href=\"https:\/\/nai500.com\/zh-hans\/blog\/2021\/05\/%e5%80%ba%e5%88%b8-%e7%9f%a5%e8%af%86-%e5%85%a5%e9%97%a83-%e5%80%ba%e5%88%b8-%e5%a6%82%e4%bd%95-%e5%ae%9a%e4%bb%b7\/\" target=\"_blank\" rel=\"noopener\">\u7b2c\u4e09\u90e8\u5206<\/a><\/strong>\u548c<strong><a href=\"https:\/\/nai500.com\/zh-hans\/blog\/2021\/05\/%e5%80%ba%e5%88%b8-%e7%9f%a5%e8%af%86-%e5%85%a5%e9%97%a84-%e5%80%ba%e5%88%b8%e7%9a%84-%e5%b8%b8%e8%a7%81-%e9%97%ae%e9%a2%98\/\" target=\"_blank\" rel=\"noopener\">\u7b2c\u56db\u90e8\u5206<\/a><\/strong>\u3002<\/p>\n<p><strong>\u5173\u952e\u8981\u70b9<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u503a\u5238\u662f\u7531\u516c\u53f8\u53d1\u884c\u7684\u516c\u53f8\u503a\u52a1\u5355\u4f4d\uff0c\u5e76\u4f5c\u4e3a\u53ef\u4ea4\u6613\u8d44\u4ea7\u8bc1\u5238\u5316\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u56e0\u4e3a\u4f20\u7edf\u4e0a\u503a\u5238\u5411\u503a\u52a1\u4eba\u652f\u4ed8\u56fa\u5b9a\u7684\u5229\u7387\uff08\u7968\u606f\uff09\uff0c\u6240\u4ee5\u503a\u5238\u88ab\u79f0\u4e3a\u56fa\u5b9a\u6536\u76ca\u5de5\u5177\u3002\u53ef\u53d8\u5229\u7387\u6216\u6d6e\u52a8\u5229\u7387\u73b0\u5728\u4e5f\u5f88\u5e38\u89c1\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u503a\u5238\u4ef7\u683c\u4e0e\u5229\u7387\u5448\u53cd\u6bd4\u5173\u7cfb\uff1a\u5f53\u5229\u7387\u4e0a\u5347\u65f6\uff0c\u503a\u5238\u4ef7\u683c\u4e0b\u964d\uff0c\u53cd\u4e4b\u4ea6\u7136\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u503a\u5238\u6709\u5230\u671f\u65e5\uff0c\u5c4a\u65f6\u5fc5\u987b\u5168\u989d\u507f\u8fd8\u672c\u91d1\uff0c\u5426\u5219\u6709\u8fdd\u7ea6\u98ce\u9669\u3002<\/span><\/li>\n<\/ul>\n<h2><strong>\u503a\u5238\u7684\u53d1\u884c\u4eba<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">\u653f\u5e9c\uff08\u5404\u7ea7\uff09\u548c\u516c\u53f8\u901a\u5e38\u4f7f\u7528\u503a\u5238\u6765\u501f\u94b1\u3002\u653f\u5e9c\u9700\u8981\u4e3a\u9053\u8def\u3001\u5b66\u6821\u3001\u6c34\u575d\u6216\u5176\u4ed6\u57fa\u7840\u8bbe\u65bd\u63d0\u4f9b\u8d44\u91d1\u3002\u7a81\u5982\u5176\u6765\u7684\u6218\u4e89\u8d39\u7528\u4e5f\u53ef\u80fd\u9700\u8981\u7b79\u96c6\u8d44\u91d1\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u540c\u6837\u5730\uff0c\u516c\u53f8\u4e5f\u7ecf\u5e38\u501f\u94b1\u6765\u53d1\u5c55\u4e1a\u52a1<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/c\/cagr.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\uff0c\u8d2d\u4e70\u8d22\u4ea7\u548c\u8bbe\u5907\uff0c\u5f00\u5c55\u6709\u5229\u53ef\u56fe\u7684\u9879\u76ee\uff0c\u7528\u4e8e\u7814\u7a76\u548c\u5f00\u53d1\u6216\u96c7\u7528\u96c7\u5458\u3002<\/span><\/a><span style=\"font-weight: 400;\">\u5927\u578b\u7ec4\u7ec7\u9047\u5230\u7684\u95ee\u9898\u662f\uff0c\u4ed6\u4eec\u901a\u5e38\u9700\u8981\u7684\u8d44\u91d1\u8fdc\u8fdc\u8d85\u8fc7\u4e00\u822c\u94f6\u884c\u6240\u80fd\u63d0\u4f9b\u7684\u8d44\u91d1\u3002\u503a\u5238\u63d0\u4f9b\u4e86\u4e00\u4e2a\u89e3\u51b3\u65b9\u6848\uff0c\u5141\u8bb8\u8bb8\u591a\u4e2a\u4eba\u6295\u8d44\u8005\u627f\u62c5\u8d37\u6b3e\u4eba\u7684\u89d2\u8272\u3002\u4e8b\u5b9e\u4e0a\uff0c\u516c\u5171\u503a\u52a1\u5e02\u573a\u8ba9\u6210\u5343\u4e0a\u4e07\u7684\u6295\u8d44\u8005\u5404\u81ea\u501f\u51fa\u4e00\u90e8\u5206\u6240\u9700\u8d44\u672c\u3002\u6b64\u5916\uff0c\u5e02\u573a\u5141\u8bb8\u8d37\u6b3e\u4eba\u5411\u5176\u4ed6\u6295\u8d44\u8005\u5728\u6700\u521d\u7684\u53d1\u884c\u673a\u6784\u7b79\u96c6\u5230\u8d44\u672c\u5f88\u4e45\u4e4b\u540e\u51fa\u552e\u4ed6\u4eec\u7684\u503a\u5238\uff0c\u6216\u4ece\u5176\u4ed6\u4e2a\u4eba\u90a3\u91cc<\/span><a href=\"https:\/\/www.investopedia.com\/ask\/answers\/08\/how-to-buy-a-bond.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u8d2d\u4e70\u503a\u5238<\/span><\/a><span style=\"font-weight: 400;\">\u3002<\/span><\/p>\n<h2><strong>\u503a\u5238\u5982\u4f55\u8fd0\u4f5c<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">\u503a\u5238\u901a\u5e38\u88ab\u79f0\u4e3a\u56fa\u5b9a\u6536\u76ca\u8bc1\u5238\uff0c\u662f\u4e2a\u4eba\u6295\u8d44\u8005\u901a\u5e38\u719f\u6089\u7684\u4e09\u79cd<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/c\/core-assets.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u8d44\u4ea7<\/span><\/a><span style=\"font-weight: 400;\">\u7c7b\u522b\u4e4b\u4e00\uff0c\u53e6\u5916\u8fd8\u6709\u80a1\u7968\uff08<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/e\/equity.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u80a1\u6743<\/span><\/a><span style=\"font-weight: 400;\">\uff09\u548c\u73b0\u91d1\u7b49\u4ef7\u7269\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u8bb8\u591a\u516c\u53f8\u548c<\/span><a href=\"https:\/\/www.investopedia.com\/ask\/answers\/where-can-i-buy-government-bonds\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u653f\u5e9c\u503a\u5238<\/span><\/a><span style=\"font-weight: 400;\">\u516c\u5f00\u4ea4\u6613\uff1b\u5176\u4ed6\u7684\u53ea\u5728\u573a\u5916\u4ea4\u6613\uff08<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/o\/otc.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">OTC<\/span><\/a><span style=\"font-weight: 400;\">\uff09\u6216\u501f\u6b3e\u4eba\u548c\u8d37\u6b3e\u4eba\u4e4b\u95f4\u79c1\u4e0b\u4ea4\u6613\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u5f53\u516c\u53f8\u6216\u5176\u4ed6\u5b9e\u4f53\u9700\u8981\u7b79\u96c6\u8d44\u91d1\u6765\u8d44\u52a9\u65b0\u9879\u76ee\u3001\u7ef4\u6301\u6301\u7eed\u7ecf\u8425\u6216\u4e3a\u73b0\u6709\u503a\u52a1\u518d\u878d\u8d44\u65f6\uff0c\u4ed6\u4eec\u53ef\u4ee5\u76f4\u63a5\u5411\u6295\u8d44\u8005\u53d1\u884c\u503a\u5238\u3002\u501f\u6b3e\u4eba\uff08\u53d1\u884c\u4eba\uff09\u53d1\u884c\u7684\u503a\u5238\u5305\u62ec\u8d37\u6b3e\u6761\u6b3e\u3001\u5c06\u8981\u652f\u4ed8\u7684\u5229\u606f\u3001\u4ee5\u53ca\u5fc5\u987b\u507f\u8fd8\u8d37\u6b3e\u8d44\u91d1\uff08\u503a\u5238\u672c\u91d1\uff09\u7684\u65f6\u95f4\uff08<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/m\/maturitydate.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u5230\u671f\u65e5<\/span><\/a><span style=\"font-weight: 400;\">\uff09\u3002\u5229\u606f\u652f\u4ed8\uff08\u7968\u606f\uff09\u662f\u503a\u5238\u6301\u6709\u4eba\u5c06\u8d44\u91d1\u501f\u7ed9\u53d1\u884c\u4eba\u800c\u83b7\u5f97\u7684\u90e8\u5206\u56de\u62a5\u3002\u51b3\u5b9a\u4ed8\u6b3e\u7684\u5229\u7387\u88ab\u79f0\u4e3a<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/c\/coupon-rate.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u7968\u9762\u5229\u7387<\/span><\/a><span style=\"font-weight: 400;\">\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u5927\u591a\u6570\u503a\u5238\u7684\u521d\u59cb\u4ef7\u683c\u901a\u5e38\u662f<\/span><a href=\"https:\/\/www.investopedia.com\/ask\/answers\/why-would-stock-have-no-par-value\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u9762\u503c<\/span><\/a><span style=\"font-weight: 400;\">\uff0c\u901a\u5e38\u4e3a100\u7f8e\u5143\u62161000\u7f8e\u5143<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/f\/facevalue.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u9762\u503c<\/span><\/a><span style=\"font-weight: 400;\">\u6bcf\u5f20\u5355\u9879\u503a\u5238\u3002\u503a\u5238\u7684\u5b9e\u9645\u5e02\u573a\u4ef7\u683c\u53d6\u51b3\u4e8e\u8bb8\u591a\u56e0\u7d20\uff1a\u53d1\u884c\u4eba\u7684<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/c\/creditquality.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u4fe1\u7528\u8d28\u91cf<\/span><\/a><span style=\"font-weight: 400;\">\uff0c\u79bb\u5230\u671f\u7684\u65f6\u95f4\u8fdc\u8fd1\uff0c\u4ee5\u53ca\u4e0e\u5f53\u65f6\u7684\u4e00\u822c\u5229\u7387\u73af\u5883\u76f8\u6bd4\u7684\u7968\u9762\u5229\u7387\u3002\u503a\u5238\u7684\u9762\u503c\u662f\u6307\u503a\u5238\u5230\u671f\u540e\u5c06\u507f\u8fd8\u7ed9\u501f\u6b3e\u4eba\u7684\u91d1\u989d\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u5927\u591a\u6570\u503a\u5238\u5728\u53d1\u884c\u540e\u53ef\u4ee5\u7531\u6700\u521d\u7684\u503a\u5238\u6301\u6709\u4eba\u51fa\u552e\u7ed9\u5176\u4ed6\u6295\u8d44\u8005\u3002\u6362\u53e5\u8bdd\u8bf4\uff0c\u503a\u5238\u6295\u8d44\u8005\u4e0d\u5fc5\u4e00\u76f4\u6301\u6709<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/b\/bondladdering.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u503a\u5238\u81f3\u5230\u671f\u65e5<\/span><\/a><span style=\"font-weight: 400;\">\u3002\u5982\u679c\u5229\u7387\u4e0b\u964d\uff0c\u6216\u8005\u501f\u6b3e\u4eba\u7684\u4fe1\u7528\u6539\u5584\uff0c\u5c31\u53ef\u4ee5\u4ee5\u8f83\u4f4e\u7684\u6210\u672c\u91cd\u65b0\u53d1\u884c\u65b0\u7684\u503a\u5238\uff0c\u90a3\u4e48\uff0c\u7531\u501f\u6b3e\u4eba\u56de\u8d2d\u503a\u5238\u4e5f\u5f88\u5e38\u89c1\u3002<\/span><\/p>\n<h2><strong>\u503a\u5238\u7684\u7279\u70b9<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">\u5927\u591a\u6570\u503a\u5238\u90fd\u6709\u4e00\u4e9b\u5171\u540c\u7684\u57fa\u672c\u7279\u5f81\uff0c\u5305\u62ec\uff1a<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u9762\u503c<\/b><span style=\"font-weight: 400;\">\u662f\u503a\u5238\u5728\u5230\u671f\u65f6\u7684\u8d27\u5e01\u4ef7\u503c\uff1b\u4e5f\u662f\u503a\u5238\u53d1\u884c\u8005\u5728\u8ba1\u7b97\u5229\u606f\u652f\u4ed8\u65f6\u7684\u53c2\u8003\u91d1\u989d\u3002\u4f8b\u5982\uff0c\u5047\u8bbe\u4e00\u4e2a\u6295\u8d44\u8005\u4ee51,090\u7f8e\u5143\u7684\u6ea2\u4ef7\u8d2d\u4e70\u4e86\u503a\u5238\uff0c\u53e6\u4e00\u4e2a\u6295\u8d44\u8005\u5728\u540e\u6765\u4ee5980\u7f8e\u5143\u7684\u6298\u4ef7\u8d2d\u4e70\u4e86\u540c\u6837\u7684\u503a\u5238\u3002\u5f53\u503a\u5238\u5230\u671f\u65f6\uff0c\u4e24\u4e2a\u6295\u8d44\u8005\u90fd\u5c06\u83b7\u5f971000\u7f8e\u5143\u7684\u503a\u5238\u9762\u503c\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u7968\u9762\u5229\u7387<\/b><span 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