{"id":598683,"date":"2025-10-17T06:59:18","date_gmt":"2025-10-17T13:59:18","guid":{"rendered":"https:\/\/nai500.com\/?p=598683"},"modified":"2025-10-17T06:59:18","modified_gmt":"2025-10-17T13:59:18","slug":"%e4%b8%ad%e5%a4%ae%e9%8a%80%e8%a1%8c%e6%9c%83%e6%94%be%e9%ac%86%e9%81%8e%e9%a0%ad%e5%97%8e%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2025\/10\/%e4%b8%ad%e5%a4%ae%e9%8a%80%e8%a1%8c%e6%9c%83%e6%94%be%e9%ac%86%e9%81%8e%e9%a0%ad%e5%97%8e%ef%bc%9f\/","title":{"rendered":"\u4e2d\u592e\u9280\u884c\u6703\u653e\u9b06\u904e\u982d\u55ce\uff1f"},"content":{"rendered":"

\u5bec\u9b06\u539f\u672c\u61c9\u8a72\u662f\u7de9\u885d\u3002\u4f46\u7de9\u885d\u4e5f\u53ef\u80fd\u60b6\u6b7b\u4eba\u3002\u73fe\u4ee3\u8ca8\u5e63\u653f\u7b56\u7684\u6096\u8ad6\u5728\u65bc\uff0c\u7576\u4e0b\u6bcf\u4e00\u6b21\u4ee4\u4eba\u5bec\u6170\u7684\u964d\u606f\uff0c\u90fd\u53ef\u80fd\u70ba\u660e\u5929\u5f15\u5165\u66f4\u68d8\u624b\u7684\u554f\u984c\u3002\u9019\u5c31\u662f\u5728\u65b0\u7684\u964d\u606f\u548c\u91d1\u878d\u7a69\u5b9a\u8a0e\u8ad6\u4e4b\u4e0b\u6f5b\u4f0f\u7684\u554f\u984c\u3002\u300aFinancial Times\u300b\u7684\u5206\u6790\u5728\u554f\uff1a\u653f\u7b56\u5236\u5b9a\u8005\u662f\u5426\u5192\u8457\u904e\u5ea6\u5bec\u9b06\u7684\u98a8\u96aa\u3002\u66f4\u6b98\u9177\u7684\u4e8b\u5be6\u662f\uff1a\u5728\u4e00\u500b\u6bd4\u904e\u53bb\u9031\u671f\u69d3\u687f\u66f4\u9ad8\u3001\u8b8a\u52d5\u66f4\u5feb\u4e14\u66f4\u8907\u96dc\u7684\u9ad4\u7cfb\u4e2d\uff0c\u7dca\u6025\u6551\u63f4\u53ef\u80fd\u4e0d\u50cf\u904e\u53bb\u90a3\u9ebc\u4e7e\u6de8\u4fd0\u843d\u5730\u963b\u6b62\u5371\u6a5f\u2014\u2014\u4f46\u5b83\u4ecd\u53ef\u80fd\u64ad\u4e0b\u4e0b\u4e00\u6b21\u5371\u6a5f\u7684\u7a2e\u5b50\u3002<\/p>\n

\u4e2d\u592e\u9280\u884c\u5bec\u9b06\u8207\u7a69\u5b9a\u7684\u5e7b\u89ba<\/h3>\n

\u9019\u500b\u8f49\u8b8a\u5df2\u5728\u9032\u884c\u4e2d\u3002\u4eca\u5e74\u4e8c\u6708\uff0cBank of England \u5c07\u5229\u7387\u4e0b\u8abf\u81f3 4.5% \uff0c\u6307\u51fa\u901a\u81a8\u8207\u85aa\u8cc7\u6b63\u5728\u964d\u6eab\u3002\u5176\u4ed6\u4e2d\u592e\u9280\u884c\u4e5f\u5728\u6e96\u5099\u985e\u4f3c\u8209\u63aa\u3002\u6a5f\u5236\u5f88\u719f\u6089\uff1a\u964d\u606f\u3001\u964d\u4f4e\u671f\u9650\u98a8\u96aa\u6ea2\u916c\u3001\u89c0\u5bdf\u91d1\u878d\u72c0\u6cc1\u653e\u5bec\uff0c\u4e26\u5e0c\u671b\u6210\u9577\u5728\u4e0d\u518d\u5f15\u71c3\u901a\u81a8\u7684\u60c5\u6cc1\u4e0b\u7a69\u5b9a\u3002\u5e02\u5834\u7fd2\u6163\u4e86\u9019\u500b\u6a21\u5f0f\uff0c\u6703\u628a\u66f4\u591a\u964d\u606f\u50f9\u683c\u9032\u53bb\u3002\u6295\u8cc7\u4eba\u5df2\u5b78\u6703\u5728\u58d3\u529b\u51fa\u73fe\u6642\u671f\u5f85\u652f\u63f4\u3002\u9019\u7a2e\u689d\u4ef6\u53cd\u5c04\u2014\u2014\u53ef\u7a31\u70ba\u4e2d\u592e\u9280\u884c\u4fdd\u8b77\u2014\u2014\u70ba\u98a8\u96aa\u627f\u64d4\u589e\u52a0\u4e86\u81ea\u6211\u5be6\u73fe\u7684\u4e00\u5c64\u3002\u9019\u5728\u5de5\u7a0b\u4e0a\u7b49\u540c\u65bc\u7bc9\u66f4\u9ad8\u7684\u5824\u9632\uff1a\u4f60\u6e1b\u5c11\u4e86\u5e38\u614b\u6027\u7684\u6d2a\u6c34\uff0c\u4f46\u4eba\u5011\u5728\u6c3e\u6feb\u5e73\u539f\u4e0a\u84cb\u623f\u5b50\u3002\u7576\u5824\u9632\u7d42\u65bc\u6c7a\u5824\uff0c\u640d\u5bb3\u6703\u66f4\u5927\u3002<\/p>\n

\u6642\u9593\u4e0d\u4e00\u81f4\u8207\u660e\u76ee\u5f35\u81bd\u7684\u9053\u5fb7\u98a8\u96aa<\/h3>\n

\u535a\u5f08\u8ad6\u63d0\u4f9b\u4e86\u6e05\u6670\u7684\u6846\u67b6\u3002\u82e5\u653f\u7b56\u5236\u5b9a\u8005\u5fc5\u9808\u5728\u7576\u4e0b\u5bb9\u5fcd\u75db\u82e6\u6216\u900f\u904e\u5bec\u9b06\u4ee5\u9650\u5236\u4e0b\u884c\u4e4b\u9593\u9078\u64c7\uff0c\u52d5\u614b\u5747\u8861\u5f88\u7c21\u55ae\u3002\u963b\u529b\u6700\u5c0f\u7684\u8def\u5f91\u4e00\u518d\u52dd\u51fa\u3002\u9019\u5c31\u662f\u6642\u9593\u4e0d\u4e00\u81f4\u3002\u4f60\u627f\u8afe\u7dad\u6301\u7dca\u7e2e\u4ee5\u7a69\u56fa\u901a\u81a8\u9810\u671f\u8207\u6291\u5236\u69d3\u687f\uff0c\u4f46\u7576\u5e02\u5834\u5d29\u6f70\u6642\u4f60\u9078\u64c7\u5bec\u9b06\u3002\u9810\u671f\u5230\u9019\u7a2e\u53cd\u61c9\u7684\u4e3b\u9ad4\u6703\u5728\u5e73\u975c\u671f\u589e\u52a0\u69d3\u687f\u3002\u7d93\u904e\u6578\u500b\u9031\u671f\uff0c\u9019\u7a2e\u53cd\u61c9\u51fd\u6578\u6703\u7de8\u78bc\u5230\u50f9\u683c\u4e2d\u3002\u9019\u4e0d\u662f\u6307\u63a7\uff1b\u5b83\u662f\u91d1\u878d\u7a69\u5b9a\u5728\u540d\u7fa9\u4e4b\u5916\u6210\u70ba\u4f7f\u547d\u7684\u4e16\u754c\u4e2d\u7684\u4e00\u500b\u7d50\u69cb\u6027\u7279\u5fb5\u3002\u4e00\u65e6\u9053\u5fb7\u98a8\u96aa\u88ab\u5d4c\u5165\uff0c\u8981\u5728\u4e0d\u5f15\u767c\u9707\u76ea\u7684\u60c5\u6cc1\u4e0b\u6536\u56de\u5b83\uff0c\u6bcf\u6b21\u8fed\u4ee3\u90fd\u8b8a\u5f97\u66f4\u96e3\u3002Minsky \u7684\u89c0\u9ede\u2014\u2014\u7a69\u5b9a\u5b55\u80b2\u4e0d\u7a69\u5b9a\u2014\u2014\u4e0d\u662f\u53e3\u865f\uff0c\u800c\u662f\u95dc\u65bc\u5728\u53ef\u9810\u671f\u6551\u63f4\u6a5f\u5236\u4e0b\u98a8\u96aa\u5982\u4f55\u9077\u79fb\u7684\u4e00\u7a2e\u6a5f\u7387\u9673\u8ff0\u3002<\/p>\n

\u6d41\u52d5\u6027\u4e0d\u662f\u511f\u4ed8\u80fd\u529b<\/h3>\n

\u8fd1\u4ee3\u53f2\u628a\u7ba1\u7dda\u554f\u984c\u8207\u640d\u5931\u5206\u958b\u3002\u4e2d\u592e\u9280\u884c\u53ef\u4ee5\u4e14\u61c9\u8a72\u5728\u511f\u4ed8\u80fd\u529b\u5065\u5168\u7684\u6a5f\u69cb\u9762\u524d\u626e\u6f14\u6700\u5f8c\u8cb8\u6b3e\u4eba\u89d2\u8272\u30022020 \u5e74 3 \u6708\uff0c\u7f8e\u5143\u6389\u671f\u7dda\u8207\u50b5\u5238\u8cfc\u8cb7\u6062\u5fa9\u4e86\u6838\u5fc3\u5e02\u5834\u7684\u529f\u80fd\u30022022 \u5e74\uff0c\u82f1\u570b\u91dd\u5c0d\u516c\u50b5\u7684\u81e8\u6642\u64cd\u4f5c\u963b\u6b62\u4e86\u8ca0\u50b5\u9a45\u52d5\u578b\u990a\u8001\u91d1\u7b56\u7565\u7684\u53cd\u994b\u8ff4\u8def\u30022023 \u5e74\uff0c\u4e00\u9805\u8a2d\u65bd\u5e73\u606f\u4e86\u7f8e\u570b\u5340\u57df\u9280\u884c\u7684\u5b58\u6b3e\u64e0\u514c\uff0c\u540c\u6642\u8b93\u4e45\u671f\u640d\u5931\u5f97\u4ee5\u6d88\u5316\u3002\u9019\u4e9b\u90fd\u662f\u5e36\u6709\u511f\u4ed8\u9670\u5f71\u7684\u6d41\u52d5\u6027\u554f\u984c\u3002\u964d\u606f\u53ef\u4ee5\u66ab\u6642\u63a9\u84cb\u4e45\u671f\u932f\u914d\uff0c\u4f46\u7121\u6cd5\u62b9\u53bb\u7531\u77ed\u671f\u8ca0\u50b5\u8cc7\u52a9\u7684\u9577\u671f\u8cc7\u7522\u6240\u7522\u751f\u7684\u640d\u5931\u3002\u4e5f\u7121\u6cd5\u4fee\u5fa9\u53ea\u6709\u5728\u4fbf\u5b9c\u8cc7\u91d1\u4e0b\u624d\u53ef\u884c\u7684\u5546\u696d\u6a21\u5f0f\u3002\u5982\u679c\u653f\u7b56\u5728\u58d3\u529b\u51fa\u73fe\u7684\u7b2c\u4e00\u8de1\u8c61\u5c31\u5bec\u9b06\uff0c\u9ad4\u7cfb\u5c31\u6703\u4fdd\u7559\u5f31\u93c8\u3002\u6bad\u5c4d\u4f01\u696d\u5b58\u6d3b\u3002\u5c3e\u90e8\u98a8\u96aa\u8b8a\u5f97\u66f4\u539a\u3002\u983b\u7e41\u7684\u5c0f\u898f\u6a21\u5931\u6557\u7f3a\u5e2d\u4e26\u4e0d\u4ee3\u8868\u5065\u5eb7\uff0c\u610f\u5473\u8457\u67af\u71e5\u7684\u67af\u679d\u7d2f\u7a4d\u3002<\/p>\n

\u8907\u96dc\u6027\u98a8\u96aa\u8207\u5931\u6557\u901f\u5ea6<\/h3>\n

\u9ad4\u7cfb\u5df2\u6539\u8b8a\u3002\u8d8a\u4f86\u8d8a\u591a\u7684\u4fe1\u8cb8\u4ef2\u4ecb\u767c\u751f\u5728\u53d7\u76e3\u7ba1\u9280\u884c\u4e4b\u5916\u3002\u570b\u50b5\u5e02\u5834\u6df1\u5ea6\u4f9d\u8cf4\u69d3\u687f\u5316\u7684\u57fa\u5dee\u4ea4\u6613\u8207\u8cc7\u672c\u5546\u66f4\u7dca\u7684\u8cc7\u7522\u8ca0\u50b5\u8868\u3002\u8de8\u5883\u5957\u606f\u4ea4\u6613\u5c07\u4e00\u7a2e\u8ca8\u5e63\u7684\u878d\u8cc7\u6210\u672c\u8207\u53e6\u4e00\u7a2e\u8ca8\u5e63\u7684\u8cc7\u7522\u50f9\u683c\u7d81\u5728\u4e00\u8d77\u3002\u6f14\u7b97\u6cd5\u4ee5\u6a5f\u5668\u901f\u5ea6\u50b3\u64ad\u885d\u64ca\u3002\u9019\u662f\u4e00\u500b\u9ad8\u5ea6\u8026\u5408\u7684\u7db2\u7d61\u3002\u5728\u8907\u96dc\u7cfb\u7d71\u4e2d\uff0c\u5e72\u9810\u7684\u908a\u969b\u6548\u7528\u905e\u6e1b\uff0c\u56e0\u70ba\u50b3\u64ad\u901a\u9053\u4e0d\u900f\u660e\u3001\u5931\u6548\u9ede\u5728\u79fb\u52d5\u3002\u6b63\u5e38\u4e8b\u6545\u8b8a\u5f97\u66f4\u5e38\u898b\u3002\u5de5\u5177\u7bb1\u2014\u2014\u964d\u606f\u3001\u91cf\u5316\u5bec\u9b06\u3001\u7dca\u6025\u8a2d\u65bd\u2014\u2014\u4ecd\u80fd\u722d\u53d6\u6642\u9593\u3002\u4f46\u963b\u6b62\u7d1a\u806f\u6240\u9700\u7684\u5291\u91cf\u96a8\u8907\u96dc\u6027\u589e\u9577\uff0c\u526f\u4f5c\u7528\u4e5f\u6703\u758a\u52a0\u3002\u60f3\u50cf\u4e00\u5ea7\u6416\u6643\u7684\u6a4b\uff0c\u52a0\u5165\u963b\u5c3c\u5668\u6703\u6539\u8b8a\u5171\u632f\u983b\u7387\u3002\u9664\u975e\u4f60\u52a0\u5f37\u7d50\u69cb\uff0c\u632f\u76ea\u6703\u4ee5\u65b0\u5f62\u5f0f\u56de\u6b78\u3002<\/p>\n

\u8cc7\u7522\u50f9\u683c\u3001\u88ab\u58d3\u6291\u7684\u5229\u7387\u8207\u7a00\u8584\u7684\u98a8\u96aa\u6ea2\u916c<\/h3>\n

\u4f4e\u6298\u73fe\u7387\u628a\u672a\u4f86\u73fe\u91d1\u6d41\u5f80\u524d\u62c9\uff0c\u4e5f\u58d3\u7e2e\u4e86\u6295\u8cc7\u4eba\u8981\u6c42\u627f\u64d4\u98a8\u96aa\u7684\u88dc\u511f\u3002\u9019\u662f\u91d1\u878d\u4e00\u7d1a\u539f\u7406\uff0c\u4e26\u975e\u514d\u8cbb\u3002\u7576\u653f\u7b56\u58d3\u4f4e\u7121\u98a8\u96aa\u57fa\u6e96\uff0c\u4e45\u671f\u8207\u4fe1\u7528\u5229\u5dee\u627f\u64d4\u8abf\u6574\u3002\u4f01\u696d\u6efe\u52d5\u50b5\u52d9\u4e26\u56de\u8cfc\u80a1\u7968\u3002\u79c1\u4eba\u5e02\u5834\u63a5\u904e\u63a5\u529b\u68d2\uff0c\u4f9d\u6a21\u578b\u6a19\u8a18\u5176\u97cc\u6027\u3002\u4e00\u6b21\u6216\u5169\u6b21\u964d\u606f\u53ef\u4ee5\u5fa9\u7526\u5957\u606f\u4ea4\u6613\uff0c\u63a8\u9ad8\u4f30\u503c\u5230\u908a\u7de3\uff0c\u5728\u90a3\u88e1\u908a\u969b\u885d\u64ca\u6703\u7522\u751f\u8d85\u6bd4\u4f8b\u50f9\u683c\u5f71\u97ff\u3002\u7576\u6ce2\u52d5\u7387\u4f4e\u4e14\u878d\u8cc7\u4fbf\u5b9c\u6642\uff0c\u8ce3\u51fa\u4fdd\u96aa\u770b\u4f3c\u7406\u6027\u3002\u554f\u984c\u4e0d\u5728\u65bc\u7b2c\u4e00\u7b46\u4ea4\u6613\uff0c\u800c\u5728\u65bc\u64c1\u64e0\u3002\u5982\u679c\u6bcf\u500b\u4eba\u90fd\u5728\u8ce3\u51fa\u9078\u64c7\u6027\uff0c\u5e02\u5834\u7684\u885d\u64ca\u5438\u6536\u5668\u6703\u8b8a\u8584\u3002\u65bc\u662f\u5bec\u9b06\u8b8a\u6210\u4e86\u6291\u5236\u6ce2\u52d5\u800c\u975e\u4fc3\u9032\u6210\u9577\u7684\u624b\u6bb5\u3002\u4e0b\u4e00\u6b21\u64fe\u52d5\u7a7f\u904e\u7684\uff0c\u5c07\u662f\u4e00\u500b\u7de9\u885d\u66f4\u5c11\u7684\u7cfb\u7d71\u3002<\/p>\n

\u901a\u81a8\u4fe1\u8b7d\u8207\u5931\u8aa4\u7684\u4ee3\u50f9<\/h3>\n

\u91cd\u8981\u7684\u98a8\u96aa\u4e0d\u50c5\u662f\u91d1\u878d\u9762\u7684\u3002\u901a\u81a8\u662f\u4e00\u500b\u7531\u9810\u671f\u8207\u4f9b\u7d66\u7d04\u675f\u5851\u9020\u7684\u9811\u56fa\u904e\u7a0b\u3002\u5982\u679c\u653f\u7b56\u5728\u52de\u52d5\u529b\u5e02\u5834\u4ecd\u7136\u7dca\u7e43\u6216\u670d\u52d9\u50f9\u683c\u9ecf\u6027\u7684\u60c5\u6cc1\u4e0b\u653e\u9b06\uff0c\u9810\u671f\u53ef\u80fd\u6f02\u79fb\u3002\u65e5\u5f8c\u91cd\u5efa\u4fe1\u8b7d\u5e38\u5e38\u9700\u8981\u6bd4\u7576\u521d\u82e5\u80fd\u66f4\u8010\u5fc3\u6240\u9700\u7684\u66f4\u5927\u5e45\u5ea6\u7dca\u7e2e\u30021970 \u5e74\u4ee3\u63d0\u4f9b\u4e86\u6642\u9593\u4e0d\u4e00\u81f4\u5c55\u6f14\u7684\u7c97\u66b4\u4f8b\u5b50\uff1b2020 \u5e74\u4ee3\u7684\u9a45\u52d5\u56e0\u5b50\u4e0d\u540c\u2014\u2014\u5730\u7de3\u653f\u6cbb\u3001\u80fd\u6e90\u8f49\u578b\u3001\u8ca1\u653f\u8d64\u5b57\u2014\u2014\u4f46\u6a5f\u5236\u76f8\u4f3c\u3002Goodhart \u5b9a\u5f8b\u9069\u7528\uff1a\u7576\u4f60\u628a\u91d1\u878d\u72c0\u6cc1\u4f5c\u70ba\u9054\u6210\u6210\u9577\u7684\u76ee\u6a19\u6642\uff0c\u8a72\u6307\u6a19\u505c\u6b62\u53cd\u6620\u57fa\u790e\u5065\u5168\u6027\u3002\u826f\u6027\u6578\u5b57\u5c31\u80fd\u63a9\u84cb\u4e0a\u5347\u4e2d\u7684\u8106\u5f31\u6027\u3002\u6a5f\u7387\u7684\u6578\u5b78\u7121\u60c5\uff1a\u4ee5\u7576\u4e0b\u7684\u5c0f\u5e45\u6536\u76ca\u4ea4\u63db\u66f4\u9ad8\u7684\u5c3e\u90e8\u98a8\u96aa\uff0c\u9810\u671f\u640d\u5931\u53ef\u80fd\u4e0a\u5347\uff0c\u5373\u4fbf\u5e73\u5747\u7d50\u679c\u770b\u4f3c\u7a69\u5b9a\u3002\u5c0f\u706b\u88ab\u963b\u6b62\uff0c\u5c0e\u81f4\u5927\u706b\u3002<\/p>\n

\u8d8a\u5b89\u5168\u7684\u7cfb\u7d71\u5e36\u4f86\u7684\u865b\u5047\u5b89\u6170<\/h3>\n

\u5b89\u5168\u88dd\u7f6e\u6703\u6539\u8b8a\u884c\u70ba\u3002\u4ea4\u901a\u4e2d\u7684\u5b89\u5168\u5e36\u6096\u8ad6\u5728\u5e02\u5834\u4e2d\u6709\u56de\u8072\u3002\u7576\u53c3\u8207\u8005\u76f8\u4fe1\u4e2d\u592e\u9280\u884c\u6703\u964d\u606f\u4ee5\u7de9\u885d\u4e0b\u8dcc\uff0c\u4ed6\u5011\u6703\u958b\u5f97\u66f4\u5feb\u3002\u76e3\u7ba1\u8005\u63d0\u9ad8\u8cc7\u672c\u8207\u6d41\u52d5\u6027\u8981\u6c42\uff0c\u9019\u6709\u5e6b\u52a9\uff0c\u4f46\u98a8\u96aa\u6703\u9077\u79fb\u5230\u6c92\u6709\u540c\u7b49\u7de9\u885d\u7684\u53e3\u888b\u3002\u5b98\u65b9\u90e8\u9580\u8d8a\u5c07\u65e5\u5e38\u6ce2\u52d5\u9694\u96e2\uff0c\u69d3\u687f\u8207\u4e45\u671f\u5c31\u8d8a\u6703\u5728\u9670\u5f71\u4e2d\u805a\u96c6\u3002\u63a5\u8457\u653f\u7b56\u5fc5\u9808\u505a\u66f4\u591a\u4f86\u62b5\u6d88\u4e0b\u4e00\u6b21\u885d\u64ca\u3002\u6bcf\u6b21\u6551\u52a9\u90fd\u63d0\u9ad8\u4e86\u75db\u82e6\u7684\u9580\u6abb\u8207\u75db\u82e6\u7684\u7e3d\u91cf\u3002\u9019\u662f\u8106\u5f31\u6027\u7684\u7279\u5fb5\u3002\u5f37\u97cc\u7684\u7cfb\u7d71\u80fd\u5438\u6536\u5c0f\u6253\u64ca\uff1b\u53cd\u8106\u5f31\u7684\u7cfb\u7d71\u80fd\u5f9e\u4e2d\u7372\u76ca\u3002\u800c\u7576\u58d3\u529b\u7684\u9810\u8a2d\u7b54\u6848\u662f\u66f4\u5ee3\u6cdb\u7684\u5bec\u9b06\u6642\uff0c\u6211\u5011\u7684\u67b6\u69cb\u5169\u8005\u7686\u505a\u5f97\u4e0d\u597d\u3002<\/p>\n

\u8d70\u5411\u53cd\u8106\u5f31\u7684\u653f\u7b56\u7d44\u5408<\/h3>\n

\u56de\u61c9\u4e0d\u5728\u65bc\u50c5\u50c5\u70ba\u4e86\u61f2\u7f70\u800c\u9577\u671f\u7dad\u6301\u9ad8\u5229\u7387\uff0c\u800c\u662f\u8981\u5206\u96e2\u5de5\u5177\u4e26\u63a5\u53d7\u4e00\u4e9b\u53ef\u898b\u7684\u75db\u82e6\u4ee5\u907f\u514d\u96b1\u85cf\u98a8\u96aa\u3002\u4f7f\u7528\u6709\u91dd\u5c0d\u6027\u7684\u6d41\u52d5\u6027\u5f8c\u5099\u4ee5\u7dad\u6301\u5e02\u5834\u904b\u4f5c\u3002\u5c07\u653f\u7b56\u5229\u7387\u8207\u4e2d\u671f\u901a\u81a8\u4fdd\u6301\u4e00\u81f4\uff0c\u800c\u4e0d\u662f\u8207 VIX \u540c\u6b65\u3002\u65bc\u5b89\u975c\u671f\u5efa\u7acb\u7de9\u885d\u2014\u2014\u9006\u5468\u671f\u8cc7\u672c\u689d\u6b3e\u3001\u8cb8\u6b3e\u5c0d\u50f9\u503c\u4e0a\u9650\uff0c\u4ee5\u53ca\u5c0d\u975e\u9280\u884c\u69d3\u687f\u7684\u771f\u6b63\u5be9\u67e5\u3002\u4fee\u5fa9\u5e02\u5834\u7ba1\u7dda\u4e2d\u50b3\u5c0e\u91cd\u8981\u7684\u90e8\u5206\u2014\u2014\u570b\u50b5\u5e02\u5834\u5bb9\u91cf\u3001\u7d50\u7b97\u6240\u98a8\u96aa\uff0c\u4ee5\u53ca\u4e0d\u6703\u8feb\u4f7f\u9806\u5468\u671f\u6027\u706b\u552e\u7684\u4fdd\u8b49\u91d1\u5236\u5ea6\u3002\u660e\u78ba\u8868\u8ff0\u652f\u6301\u662f\u70ba\u4e86\u8cc7\u91d1\u5e02\u5834\uff0c\u800c\u975e\u50f9\u683c\u6c34\u6e96\u3002\u4ee5\u4e00\u7a2e\u6e1b\u5c11\u88ab\u898f\u907f\u52d5\u6a5f\u7684\u65b9\u5f0f\u6e9d\u901a\u53cd\u61c9\u51fd\u6578\u3002\u5c0d\u6295\u8cc7\u4eba\u800c\u8a00\uff0c\u5047\u8a2d\u6c92\u6709\u4fdd\u8b77\u3002\u5982\u679c\u53ef\u80fd\uff0c\u504f\u597d\u4e0d\u4f9d\u8cf4\u5ec9\u50f9\u878d\u8cc7\u7684\u8cc7\u7522\u8ca0\u50b5\u8868\u8207\u5728\u58d3\u529b\u60c5\u6cc1\u4e0b\u4f60\u80fd\u78ba\u4fe1\u7684\u6d41\u52d5\u6027\u3002\u82e5\u5bec\u9b06\u4f86\u81e8\uff0c\u8996\u5176\u70ba\u66ab\u7de9\u800c\u975e\u5730\u677f\u3002\u76ee\u6a19\u4e0d\u662f\u66f4\u67d4\u8edf\u7684\u8457\u9678\uff0c\u800c\u662f\u4e00\u500b\u53ef\u4ee5\u5728\u4efb\u4f55\u8457\u9678\u9ede\u4e0d\u81f4\u7834\u88c2\u7684\u7cfb\u7d71\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u592e\u884c\u6709\u53ef\u80fd\u5bec\u9b06\u904e\u5ea6\uff0c\u5728\u9019\u500b\u7d50\u69cb\u8907\u96dc\u4e14\u69d3\u687f\u5316\u7684\u91d1\u878d\u9ad4\u7cfb\u4e2d\uff0c\u7dca\u6025\u6551\u52a9\u672a\u5fc5\u80fd\u963b\u6b62\u4e0d\u7a69\uff0c\u53cd\u800c\u53ef\u80fd\u70ba\u4e0b\u4e00\u5834\u707d\u96e3\u57cb\u4e0b\u4f0f\u7b46\u3002<\/p>\n","protected":false},"author":52,"featured_media":587487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[426],"tags":[2165,1122],"class_list":["post-598683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news-zh-hant","tag--zh-hant","tag-1122"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/598683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/users\/52"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=598683"}],"version-history":[{"count":1,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/598683\/revisions"}],"predecessor-version":[{"id":598698,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/598683\/revisions\/598698"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/587487"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=598683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=598683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=598683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}