{"id":382228,"date":"2021-05-13T16:37:35","date_gmt":"2021-05-13T23:37:35","guid":{"rendered":"https:\/\/nai500.com\/?p=382228"},"modified":"2021-05-14T11:01:02","modified_gmt":"2021-05-14T18:01:02","slug":"%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","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%a83-%e5%80%ba%e5%88%b8-%e5%a6%82%e4%bd%95-%e5%ae%9a%e4%bb%b7\/","title":{"rendered":"\u503a\u5238\u77e5\u8bc6\u5165\u95e83\uff1a\u503a\u5238\u5982\u4f55\u5b9a\u4ef7\uff1f"},"content":{"rendered":"<h2><strong>\u503a\u5238\u5b9a\u4ef7<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">\u5e02\u573a\u6839\u636e\u503a\u5238\u7684\u7279\u5b9a\u7279\u5f81\u4e3a\u5176\u5b9a\u4ef7\u3002\u503a\u5238\u7684\u4ef7\u683c\u6bcf\u5929\u90fd\u5728\u53d8\u5316\uff0c\u5c31\u50cf\u5176\u4ed6\u516c\u5f00\u4ea4\u6613\u7684\u8bc1\u5238\u4e00\u6837\uff0c<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/l\/law-of-supply-demand.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u4efb\u4f55\u7279\u5b9a\u65f6\u523b\u7684\u4f9b\u6c42\u5173\u7cfb<\/span><\/a><span style=\"font-weight: 400;\">\u51b3\u5b9a\u4e86\u89c2\u5bdf\u5230\u7684\u4ef7\u683c\u3002\u4f46\u662f\u503a\u5238\u7684\u4f30\u503c\u6709\u4e00\u4e2a\u903b\u8f91\u3002\u5230\u76ee\u524d\u4e3a\u6b62\uff0c\u6211\u4eec\u5728\u8c08\u8bba\u503a\u5238\u65f6\uff0c\u5c31\u597d\u50cf\u6bcf\u4e2a\u6295\u8d44\u8005\u90fd\u6301\u6709\u503a\u5238\u81f3<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/m\/maturity.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u5230\u671f\u65e5<\/span><\/a><span style=\"font-weight: 400;\">\u3002\u7684\u786e\uff0c\u5982\u679c\u4f60\u8fd9\u6837\u505a\uff0c\u4f60\u5c31\u80fd\u4fdd\u8bc1\u5f97\u5230\u4f60\u7684<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/p\/principal.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u672c\u91d1<\/span><\/a><span style=\"font-weight: 400;\">\u548c\u5229\u606f\uff1b\u4f46\u662f\uff0c\u503a\u5238\u4e0d\u4e00\u5b9a\u8981\u6301\u6709\u81f3\u5230\u671f\u65e5\u3002\u5728\u4efb\u4f55\u65f6\u5019\uff0c\u503a\u5238\u6301\u6709\u4eba\u90fd\u53ef\u4ee5\u5728\u516c\u5f00\u5e02\u573a\u4e0a\u51fa\u552e\u4ed6\u4eec\u7684\u503a\u5238\uff0c\u4ef7\u683c\u53ef\u80fd\u4f1a\u51fa\u73b0\u6ce2\u52a8\uff0c\u6709\u65f6\u751a\u81f3\u662f\u5de8\u5927\u7684\u6ce2\u52a8\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%a81-%e4%bb%80%e4%b9%88%e6%98%af-%e5%80%ba%e5%88%b8\/\" target=\"_blank\" rel=\"noopener\">\u7b2c\u4e00\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%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>\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><span style=\"font-weight: 400;\">\u503a\u5238\u7684\u4ef7\u683c\u968f\u7740\u7ecf\u6d4e\u4e2d\u7684\u5229\u7387\u53d8\u5316\u800c\u53d8\u5316\u3002\u8fd9\u662f\u56e0\u4e3a\u5bf9\u4e8e<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/f\/fixedrate-bond.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u56fa\u5b9a\u5229\u7387\u7684\u503a\u5238<\/span><\/a><span style=\"font-weight: 400;\">\uff0c\u53d1\u884c\u4eba\u5df2\u7ecf\u627f\u8bfa\u6839\u636e\u503a\u5238\u7684<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/f\/facevalue.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u7968\u9762\u4ef7\u503c<\/span><\/a><span style=\"font-weight: 400;\">\u6765\u652f\u4ed8\u7968\u606f\uff0c\u6240\u4ee5\u5bf9\u4e8e1000\u7f8e\u5143\u7684<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/p\/par.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u9762\u503c<\/span><\/a><span style=\"font-weight: 400;\">\uff0c10%\u5e74\u7968\u606f\u7684\u503a\u5238\uff0c\u53d1\u884c\u4eba\u5c06\u6bcf\u5e74\u652f\u4ed8\u7ed9\u503a\u5238\u6301\u6709\u4eba100\u7f8e\u5143\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u5047\u8bbe\u5728\u53d1\u884c\u8fd9\u79cd\u503a\u5238\u65f6\uff0c\u73b0\u884c\u7684\u5229\u7387\u4e5f\u662f10%\uff0c\u8fd9\u662f\u7531\u77ed\u671f\u653f\u5e9c\u503a\u5238\u7684\u5229\u7387\u51b3\u5b9a\u7684\u3002\u6295\u8d44\u516c\u53f8\u503a\u5238\u6216\u653f\u5e9c\u503a\u5238\u90fd\u4f1a\u6709100\u7f8e\u5143\u7684\u56de\u62a5\uff0c\u6240\u4ee5\u6295\u8d44\u8005\u5bf9\u6295\u8d44\u4e24\u8005\u90fd\u65e0\u52a8\u4e8e\u8877\u3002\u7136\u800c\uff0c\u60f3\u8c61\u4e00\u4e0b\uff0c\u8fc7\u4e86\u4e00\u6bb5\u65f6\u95f4\uff0c\u7ecf\u6d4e\u5f62\u52bf\u8f6c\u574f\uff0c\u5229\u7387\u4e0b\u964d\u52305%\u3002\u73b0\u5728\uff0c\u6295\u8d44\u8005\u53ea\u80fd\u4ece\u653f\u5e9c\u503a\u5238\u4e2d\u83b7\u5f9750\u7f8e\u5143\uff0c\u4f46\u4ecd\u80fd\u4ece\u516c\u53f8\u503a\u5238\u4e2d\u83b7\u5f97100\u7f8e\u5143\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u8fd9\u79cd\u5dee\u5f02\u4f7f\u5f97\u4f01\u4e1a\u503a\u5238\u66f4\u6709\u5438\u5f15\u529b\u3002\u56e0\u6b64\uff0c\u5e02\u573a\u4e0a\u7684\u6295\u8d44\u8005\u4f1a\u7ade\u76f8\u62ac\u9ad8\u503a\u5238\u7684\u4ef7\u683c\uff0c\u76f4\u5230\u5b83\u7684\u4ea4\u6613\u4ef7\u683c\u4e0e\u5f53\u65f6\u7684\u5229\u7387\u73af\u5883\u6301\u5e73\u2013\u5728\u8fd9\u79cd\u60c5\u51b5\u4e0b\uff0c\u503a\u5238\u7684\u4ea4\u6613\u4ef7\u683c\u4e3a2000\u7f8e\u5143\uff0c\u8fd9\u6837100\u7f8e\u5143\u7684\u606f\u7968\u5c31\u4ee3\u8868\u4e865%\u7684\u7968\u606f\u3002\u540c\u6837\uff0c\u5982\u679c\u5229\u7387\u98d9\u5347\u81f315%\uff0c\u90a3\u4e48\u6295\u8d44\u8005\u53ef\u4ee5\u4ece\u653f\u5e9c\u503a\u5238\u4e2d\u8d5a\u53d6150\u7f8e\u5143\uff0c\u4e0d\u4f1a\u4e3a\u4e86\u8d5a\u53d6100\u7f8e\u5143\u800c\u652f\u4ed81000\u7f8e\u5143\u3002\u8fd9\u79cd\u503a\u5238\u5c06\u88ab\u51fa\u552e\uff0c\u76f4\u5230\u8fbe\u5230\u4e00\u4e2a\u80fd\u5e73\u8861\u6536\u76ca\u7387\u7684\u4ef7\u683c\uff0c\u5728\u8fd9\u79cd\u60c5\u51b5\u4e0b\uff0c\u4ef7\u683c\u4e3a666.67\u7f8e\u5143\u3002<\/span><\/p>\n<h2><strong>\u4e0e\u5229\u7387\u6210\u53cd\u6bd4<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">\u8fd9\u5c31\u662f\u4e3a\u4ec0\u4e48\u503a\u5238\u7684\u4ef7\u683c\u4e0e\u5229\u7387\u6210\u53cd\u6bd4\u7684\u8457\u540d\u8bf4\u6cd5\u662f\u6709\u6548\u7684\u3002\u5f53\u5229\u7387\u4e0a\u5347\u65f6\uff0c\u503a\u5238\u4ef7\u683c\u4e0b\u964d\uff0c\u4ee5\u8fbe\u5230\u4f7f\u503a\u5238\u7684\u5229\u7387\u4e0e\u73b0\u884c\u5229\u7387\u76f8\u7b49\u7684\u6548\u679c\uff0c\u53cd\u4e4b\u4ea6\u7136\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u8bf4\u660e\u8fd9\u4e00\u6982\u5ff5\u7684\u53e6\u4e00\u79cd\u65b9\u6cd5\u662f\u8003\u8651\u5728\u4ef7\u683c\u53d8\u5316\u7684\u60c5\u51b5\u4e0b\uff0c\u800c\u4e0d\u662f\u5728\u5229\u7387\u53d8\u5316\u7684\u60c5\u51b5\u4e0b\uff0c\u6211\u4eec\u503a\u5238\u7684\u6536\u76ca\u7387\u4f1a\u662f\u591a\u5c11\u3002\u4f8b\u5982\uff0c\u5982\u679c\u4ef7\u683c\u4ece1000\u7f8e\u5143\u4e0b\u964d\u5230800\u7f8e\u5143\uff0c\u90a3\u4e48\u6536\u76ca\u7387\u5c31\u4f1a\u4e0a\u5347\u523012.5%\u3002\u53d1\u751f\u8fd9\u79cd\u60c5\u51b5\u662f\u56e0\u4e3a\u4f60\u5728\u4ef7\u503c800\u7f8e\u5143\u7684\u8d44\u4ea7\u4e0a\u5f97\u5230\u4e86\u540c\u6837\u7684100\u7f8e\u5143\u4fdd\u8bc1\uff08100\u7f8e\u5143\/800\u7f8e\u5143\uff09\u3002\u76f8\u53cd\uff0c\u5982\u679c\u503a\u5238\u7684\u4ef7\u683c\u4e0a\u5347\u52301200\u7f8e\u5143\uff0c\u6536\u76ca\u7387\u5c31\u4f1a\u7f29\u51cf\u52308.33%\uff08100\u7f8e\u5143\/1200\u7f8e\u5143\uff09\u3002<\/span><\/p>\n<h2><strong>\u5230\u671f\u6536\u76ca\u7387(YTM)<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">\u503a\u5238\u7684<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/y\/yieldtomaturity.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u5230\u671f\u6536\u76ca\u7387\uff08YTM\uff09<\/span><\/a><span style=\"font-weight: 400;\">\u662f\u8003\u8651\u503a\u5238\u4ef7\u683c\u7684\u53e6\u4e00\u79cd\u65b9\u5f0f\u3002YTM\u662f\u6307\u5982\u679c\u503a\u5238\u4e00\u76f4\u6301\u6709\u5230\u5176\u5bff\u547d\u7ed3\u675f\u65f6\u9884\u671f\u7684\u603b<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/r\/return.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u56de\u62a5<\/span><\/a><span style=\"font-weight: 400;\">\u3002\u5230\u671f\u6536\u76ca\u7387\u88ab\u8ba4\u4e3a\u662f<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/l\/longterm.asp\"><span style=\"font-weight: 400;\">\u957f\u671f<\/span><\/a><a href=\"https:\/\/www.investopedia.com\/terms\/b\/bond-yield.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u503a\u5238\u6536\u76ca\u7387<\/span><\/a><span style=\"font-weight: 400;\">\uff0c\u4f46\u7528<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/a\/annual.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u5e74<\/span><\/a><span style=\"font-weight: 400;\">\u7387\u8868\u793a\u3002\u6362\u53e5\u8bdd\u8bf4\uff0c\u5982\u679c\u6295\u8d44\u8005\u6301\u6709\u503a\u5238\u76f4\u81f3\u5230\u671f\uff0c\u5e76\u4e14\u6240\u6709\u7684\u4ed8\u6b3e\u90fd\u5982\u671f\u8fdb\u884c\uff0c\u90a3\u4e48\u5c31\u662f\u6295\u8d44\u4e8e\u503a\u5238\u7684<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/i\/irr.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u5185\u90e8\u56de\u62a5\u7387<\/span><\/a><span style=\"font-weight: 400;\">\u3002YTM\u662f\u4e00\u4e2a\u590d\u6742\u7684\u8ba1\u7b97\u65b9\u6cd5\uff0c\u4f46\u4f5c\u4e3a\u8bc4\u4f30\u4e00\u79cd\u503a\u5238\u76f8\u5bf9\u4e8e\u5e02\u573a\u4e0a\u4e0d\u540c\u7968\u9762\u548c\u671f\u9650\u7684\u5176\u4ed6\u503a\u5238\u7684\u5438\u5f15\u529b\u7684\u6982\u5ff5\u662f\u76f8\u5f53\u6709\u7528\u7684\u3002YTM\u7684\u8ba1\u7b97\u516c\u5f0f\u5305\u62ec\u6c42\u89e3\u4ee5\u4e0b\u516c\u5f0f\u4e2d\u7684\u5229\u7387\uff0c\u8fd9\u4e0d\u662f\u4e00\u4ef6\u5bb9\u6613\u7684\u4e8b\uff0c\u56e0\u6b64\uff0c\u5927\u591a\u6570\u5bf9YTM\u611f\u5174\u8da3\u7684\u503a\u5238\u6295\u8d44\u8005\u4f1a\u4f7f\u7528\u8ba1\u7b97\u673a\u8ba1\u7b97\uff1a<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"alignnone size-full wp-image-382229 lazyload\" data-src=\"https:\/\/nai500.com\/wp-content\/uploads\/2021\/05\/\u503a\u52383.png\" data-sizes=\"auto, (max-width: 357px) 100vw, 357px\" data-srcset=\"https:\/\/nai500.com\/wp-content\/uploads\/2021\/05\/\u503a\u52383.png 357w, https:\/\/nai500.com\/wp-content\/uploads\/2021\/05\/\u503a\u52383-300x97.png 300w\" alt=\"\" width=\"357\" height=\"115\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 357px; --smush-placeholder-aspect-ratio: 357\/115;\" \/><\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u6211\u4eec\u8fd8\u53ef\u4ee5\u7528\u4e00\u79cd\u88ab\u79f0\u4e3a\u503a\u5238\u7684<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/d\/duration.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u4e45\u671f<\/span><\/a><span style=\"font-weight: 400;\">\u7684\u63aa\u65bd\u6765\u8861\u91cf\u5728\u5229\u7387\u53d8\u5316\u7684\u60c5\u51b5\u4e0b\u503a\u5238\u4ef7\u683c\u7684\u9884\u671f\u53d8\u5316\u3002\u4e45\u671f\u6700\u521d\u662f\u6307<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/z\/zero-couponbond.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u96f6\u606f\u503a\u5238<\/span><\/a><span style=\"font-weight: 400;\">\uff0c\u5176\u671f\u9650<\/span><i><span style=\"font-weight: 400;\">\u662f<\/span><\/i><span style=\"font-weight: 400;\">\u5176\u5230\u671f\u65e5\uff0c\u6240\u4ee5\u4e45\u671f\u7528\u5e74\u6570\u4e3a\u5355\u4f4d\u8868\u793a\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u7136\u800c\uff0c\u4e3a\u4e86\u5b9e\u9645\u7684\u76ee\u7684\uff0c\u4e45\u671f\u4ee3\u8868\u4e86\u5728\u5229\u7387\u53d8\u53161%\u7684\u60c5\u51b5\u4e0b\uff0c\u503a\u5238\u7684\u4ef7\u683c\u53d8\u5316\u3002\u6211\u4eec\u628a\u8fd9\u7b2c\u4e8c\u4e2a\u66f4\u5b9e\u7528\u7684\u5b9a\u4e49\u79f0\u4e3a\u503a\u5238\u7684<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/m\/modifiedduration.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u4fee\u6b63\u4e45\u671f<\/span><\/a><span style=\"font-weight: 400;\">\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u53ef\u4ee5\u901a\u8fc7\u8ba1\u7b97\u4e45\u671f\u6765\u786e\u5b9a\u5355\u4e00\u503a\u5238\u6216\u8bb8\u591a\u503a\u5238\u7ec4\u5408\u5bf9\u5229\u7387\u53d8\u5316\u7684\u4ef7\u683c\u654f\u611f\u6027\u3002\u4e00\u822c\u6765\u8bf4\uff0c\u5230\u671f\u65f6\u95f4\u957f\u7684\u503a\u5238\uff0c\u4ee5\u53ca\u4f4e\u606f\u7968\u503a\u5238\u5bf9\u5229\u7387\u53d8\u5316\u7684\u654f\u611f\u6027\u6700\u5927\u3002\u503a\u5238\u7684\u671f\u9650\u4e0d\u662f\u4e00\u4e2a\u7ebf\u6027\u7684\u98ce\u9669\u8861\u91cf\u6807\u51c6\uff0c\u4e5f\u5c31\u662f\u8bf4\uff0c\u968f\u7740\u4ef7\u683c\u548c\u5229\u7387\u7684\u53d8\u5316\uff0c\u4e45\u671f\u672c\u8eab\u4e5f\u4f1a\u53d1\u751f\u53d8\u5316\uff0c\u7528<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/c\/convexity.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u51f8\u5ea6<\/span><\/a><span style=\"font-weight: 400;\">\u6765<\/span><span style=\"font-weight: 400;\">\u8861\u91cf\u8fd9\u79cd\u5173\u7cfb\u3002<\/span><\/p>\n<h2><strong>\u73b0\u5b9e\u4e16\u754c\u7684\u503a\u5238\u5b9e\u4f8b<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">\u503a\u5238\u4ee3\u8868\u4e86\u501f\u6b3e\u4eba\u5411\u8d37\u6b3e\u4eba\u652f\u4ed8\u672c\u91d1\u548c\u8d37\u6b3e\u5229\u606f\u7684\u627f\u8bfa\u3002\u503a\u5238\u7531\u653f\u5e9c\u3001\u5e02\u653f\u5f53\u5c40\u548c\u516c\u53f8\u53d1\u884c\u3002\u4e3a\u4e86\u6ee1\u8db3\u503a\u5238\u53d1\u884c\u4eba\uff08\u501f\u6b3e\u4eba\uff09\u548c\u503a\u5238\u8d2d\u4e70\u8005\uff08\u8d37\u6b3e\u4eba\uff09\u7684\u76ee\u6807\uff0c\u6bcf\u4e00\u79cd\u503a\u5238\u7684\u5229\u7387\uff08\u7968\u9762\u5229\u7387\uff09\u3001\u672c\u91d1\u548c\u5230\u671f\u65e5\u90fd\u4f1a\u6709\u6240\u4e0d\u540c\u3002\u516c\u53f8\u53d1\u884c\u7684\u5927\u591a\u6570\u503a\u5238\u90fd\u5305\u62ec\u53ef\u4ee5\u589e\u52a0\u6216\u51cf\u5c11\u5176\u4ef7\u503c\u7684\u9009\u9879\uff0c\u8fd9\u53ef\u80fd\u4f1a\u4f7f\u975e\u4e13\u4e1a\u4eba\u58eb\u96be\u4ee5\u8fdb\u884c\u6bd4\u8f83\u3002\u503a\u5238\u53ef\u4ee5\u5728\u5230\u671f\u524d\u4e70\u5165\u6216\u5356\u51fa\uff0c\u8bb8\u591a\u503a\u5238\u662f\u516c\u5f00\u4e0a\u5e02\u7684\uff0c\u53ef\u4ee5\u901a\u8fc7\u7ecf\u7eaa\u4eba\u8fdb\u884c\u4ea4\u6613\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u867d\u7136\u653f\u5e9c\u53d1\u884c\u4e86\u8bb8\u591a\u503a\u5238\uff0c\u4f46\u53ef\u4ee5\u4ece\u7ecf\u7eaa\u5546\u90a3\u91cc\u8d2d\u4e70\u516c\u53f8\u503a\u5238\u3002\u5982\u679c\u4f60\u5bf9\u8fd9\u9879\u6295\u8d44\u611f\u5174\u8da3\uff0c\u4f60\u5c31\u9700\u8981\u6311\u9009\u4e00\u4e2a\u7ecf\u7eaa\u4eba\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u56e0\u4e3a\u56fa\u5b9a\u5229\u7387\u7684\u503a\u5238\u5c06\u5728\u4e00\u6bb5\u65f6\u95f4\u5185\u652f\u4ed8\u5176\u9762\u503c\u7684\u76f8\u540c\u767e\u5206\u6bd4\uff0c\u503a\u5238\u7684\u5e02\u573a\u4ef7\u683c\u5c06\u968f\u7740\u8be5\u7968\u9762\u4e0e\u5f53\u65f6\u7684\u5229\u7387\u76f8\u6bd4\u53d8\u5f97\u66f4\u6709\u5438\u5f15\u529b\u6216\u66f4\u5c11\u800c\u6ce2\u52a8\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u60f3\u8c61\u4e00\u4e0b\uff0c\u53d1\u884c\u7684\u503a\u5238\u7968\u9762\u5229\u7387\u4e3a5%\uff0c<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/p\/parvalue.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u9762\u503c<\/span><\/a><span style=\"font-weight: 400;\">\u4e3a1,000\u7f8e\u5143\u3002\u503a\u5238\u6301\u6709\u4eba\u6bcf\u5e74\u5c06\u83b7\u5f9750\u7f8e\u5143\u7684\u5229\u606f\u6536\u5165\uff08\u5927\u591a\u6570\u503a\u5238\u7684\u7968\u606f\u90fd\u662f\u6bcf\u534a\u5e74\u652f\u4ed8\u4e00\u6b21\uff09\u3002\u53ea\u8981\u5229\u7387\u73af\u5883\u6ca1\u6709\u5176\u4ed6\u53d8\u5316\uff0c\u503a\u5238\u7684\u4ef7\u683c\u5e94\u8be5\u4fdd\u6301\u5728\u9762\u503c\u4e0a\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u7136\u800c\uff0c\u5982\u679c\u5229\u7387\u5f00\u59cb\u4e0b\u964d\uff0c\u73b0\u5728\u53d1\u884c\u7684\u7c7b\u4f3c\u503a\u5238\u7684\u7968\u606f\u4e3a4%\uff0c\u90a3\u4e48\u539f\u6765\u7684\u503a\u5238\u5c31\u53d8\u5f97\u66f4\u6709\u4ef7\u503c\u3002\u60f3\u8981\u66f4\u9ad8\u7684\u7968\u9762\u5229\u7387\u7684\u6295\u8d44\u8005\u5c06\u4e0d\u5f97\u4e0d\u4e3a\u8be5\u503a\u5238\u652f\u4ed8\u989d\u5916\u7684\u8d39\u7528\uff0c\u4ee5\u5438\u5f15\u539f\u6240\u6709\u8005\u51fa\u552e\u3002\u589e\u52a0\u7684\u4ef7\u683c\u5c06\u4f7f\u65b0\u6295\u8d44\u8005\u7684\u503a\u5238\u603b\u6536\u76ca\u7387\u4e0b\u964d\u52304%\uff0c\u56e0\u4e3a\u4ed6\u4eec\u5fc5\u987b\u652f\u4ed8\u9ad8\u4e8e\u9762\u503c\u7684\u91d1\u989d\u6765\u8d2d\u4e70\u503a\u5238\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u53e6\u4e00\u65b9\u9762\uff0c\u5982\u679c\u5229\u7387\u4e0a\u5347\uff0c\u50cf\u8fd9\u79cd\u503a\u5238\u7684\u7968\u9762\u5229\u7387\u4e0a\u5347\u52306%\uff0c5%\u7684\u7968\u9762\u5229\u7387\u5c31\u4e0d\u518d\u6709\u5438\u5f15\u529b\u3002\u503a\u5238\u7684\u4ef7\u683c\u5c06\u4e0b\u964d\uff0c\u5e76\u5f00\u59cb\u4ee5\u4f4e\u4e8e\u9762\u503c\u7684\u4ef7\u683c\u51fa\u552e\uff0c\u76f4\u5230\u5176\u6709\u6548\u6536\u76ca\u4e3a6%\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u503a\u5238\u5e02\u573a\u5f80\u5f80\u4e0e\u5229\u7387\u6210\u53cd\u6bd4\uff0c\u56e0\u4e3a\u5f53\u5229\u7387\u4e0a\u5347\u65f6\uff0c\u503a\u5238\u5c06\u4ee5\u6298\u4ef7\u4ea4\u6613\uff0c\u800c\u5f53\u5229\u7387\u4e0b\u964d\u65f6\uff0c\u5219\u4ee5\u6ea2\u4ef7\u4ea4\u6613\u3002<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u5e02\u573a\u6839\u636e\u503a\u5238\u7684\u7279\u5b9a\u7279\u5f81\u4e3a\u5176\u5b9a\u4ef7\u3002\u503a\u5238\u7684\u4ef7\u683c\u6bcf\u5929\u90fd\u5728\u53d8\u5316\uff0c\u5c31\u50cf\u5176\u4ed6\u516c\u5f00\u4ea4\u6613\u7684\u8bc1\u5238\u4e00\u6837\uff0c\u4efb\u4f55\u7279\u5b9a\u65f6\u523b\u7684\u4f9b\u6c42\u5173\u7cfb\u51b3\u5b9a\u4e86\u89c2\u5bdf\u5230\u7684\u4ef7\u683c\u3002<\/p>\n","protected":false},"author":32,"featured_media":382232,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[430],"tags":[1877],"class_list":["post-382228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trends-strategies-zh-hans","tag-1877","sectors-financial-products-zh-hans","locations-canada-zh-hans","locations-us-zh-hans","exchange-tsx-zh-hans","exchange-tsx-v-zh-hans"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/382228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=382228"}],"version-history":[{"count":0,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/382228\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media\/382232"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=382228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=382228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=382228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}