{"id":643661,"date":"2026-06-15T03:18:07","date_gmt":"2026-06-15T10:18:07","guid":{"rendered":"https:\/\/nai500.com\/?p=643661"},"modified":"2026-06-15T04:15:21","modified_gmt":"2026-06-15T11:15:21","slug":"pimco","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2026\/06\/pimco\/","title":{"rendered":"\u9ad8\u6536\u76ca\u7f8e\u5922\u7834\u788e\uff0cPimco \u9810\u8b66\u50b5\u52d9\u9055\u7d04\u91cd\u4f86"},"content":{"rendered":"

\u5e02\u5834\u9577\u4e45\u4ee5\u4f86\u4fe1\u5949\u79c1\u52df\u4fe1\u8cb8\u662f\u62b5\u79a6\u6ce2\u52d5\u7684\u7a69\u5065\u6536\u76ca\u4f86\u6e90\uff0c\u5982\u4eca\u9019\u4e00\u8a8d\u77e5\u6b63\u8fce\u4f86\u56b4\u5cfb\u6311\u6230\u3002\u592a\u5e73\u6d0b\u6295\u8cc7\u7ba1\u7406\u516c\u53f8\uff08Pimco\uff09\u767c\u51fa\u8b66\u793a\uff0c\u50b5\u52d9\u5e02\u5834\u9055\u7d04\u73fe\u8c61\u518d\u5ea6\u62ac\u982d\uff0c\u66fe\u7d93\u88ab\u8996\u4f5c\u8cc7\u7522\u512a\u52e2\u7684\u97cc\u6027\uff0c\u5728\u58d3\u529b\u74b0\u5883\u4e0b\u9010\u6b65\u74e6\u89e3\u3002<\/p>\n

\u898f\u6a21\u7d04 1.8 \u842c\u5104\u7f8e\u5143\u7684\u79c1\u52df\u4fe1\u8cb8\u5e02\u5834\uff0c\u4f9d\u8a17\u76f4\u63a5\u501f\u8cb8\u3001\u5bec\u9b06\u5951\u7d04\u8207\u6d6e\u52d5\u5229\u7387\u8a08\u606f\u6a21\u5f0f\u767c\u5c55\u58ef\u5927\u3002\u5728\u653f\u7b56\u5229\u7387\u8655\u65bc\u4f4e\u4f4d\u7684\u968e\u6bb5\uff0c\u6d6e\u52d5\u5229\u7387\u66fe\u70ba\u5e02\u5834\u5e36\u4f86\u53ef\u89c0\u6536\u76ca\uff0c\u53ef\u96a8\u8457\u878d\u8cc7\u6210\u672c\u8d70\u9ad8\uff0c\u9019\u9805\u7279\u6027\u8f49\u800c\u6210\u70ba\u8ca0\u64d4\u3002\u7576\u524d\u76f4\u63a5\u501f\u8cb8\u9818\u57df\u5df2\u5168\u9762\u9032\u5165\u9055\u7d04\u9031\u671f\uff0c\u9019\u4e26\u975e\u5e02\u5834\u5076\u7136\u51fa\u73fe\u7684\u554f\u984c\uff0c\u800c\u662f\u7d93\u6fdf\u589e\u901f\u653e\u7de9\u3001\u8cc7\u91d1\u6210\u672c\u4e0a\u5347\u5f8c\uff0c\u4fe1\u8cb8\u9031\u671f\u904b\u884c\u7684\u5fc5\u7136\u7d50\u679c\u3002<\/p>\n

\u76f8\u8f03\u65bc\u516c\u958b\u5e02\u5834\uff0c\u79c1\u52df\u7522\u54c1\u8cec\u9762\u6ce2\u52d5\u66f4\u4f4e\uff0c\u4f46\u9019\u7121\u6cd5\u6539\u8b8a\u771f\u5be6\u7684\u73fe\u91d1\u6d41\u72c0\u6cc1\u3002\u96f6\u5229\u7387\u74b0\u5883\u4e0b\uff0c\u501f\u6b3e\u4eba\u6191\u85c9\u5229\u5dee\u7372\u5f97\u76c8\u5229\u7a7a\u9593\uff0c\u5982\u4eca\u7d9c\u5408\u878d\u8cc7\u6210\u672c\u6500\u5347\u81f3 10% \u81f3 12%\u3002\u4e00\u65e6\u71df\u6536\u589e\u9577\u4e0d\u53ca\u9810\u671f\uff0c\u511f\u50b5\u80fd\u529b\u4fbf\u6703\u5feb\u901f\u4e0b\u6ed1\u3002\u6b77\u53f2\u7d93\u9a57\u53cd\u5fa9\u5370\u8b49\uff0c\u4fe1\u8cb8\u5e02\u5834\u7684\u6700\u7d42\u8a71\u8a9e\u6b0a\u59cb\u7d42\u638c\u63e1\u5728\u73fe\u91d1\u6d41\u624b\u4e2d\uff0c\u800c\u975e\u8cc7\u7522\u4f30\u503c\u3002<\/p>\n

\u6b64\u6b21\u98a8\u96aa\u4e0d\u6b62\u9ad4\u73fe\u5728\u9055\u7d04\u6982\u7387\u4e0a\u5347\uff0c\u66f4\u6df1\u5c64\u96b1\u60a3\u5728\u65bc\u6d41\u52d5\u6027\u67b6\u69cb\u5931\u8861\u3002\u591a\u6578\u79c1\u52df\u57fa\u91d1\u8a2d\u6709\u591a\u5e74\u9396\u5b9a\u671f\uff0c\u96e3\u4ee5\u51fa\u73fe\u96c6\u4e2d\u8d16\u56de\uff0c\u4f46\u501f\u8cb8\u96d9\u65b9\u7684\u671f\u9650\u932f\u914d\u554f\u984c\u65e5\u76ca\u7a81\u51fa\u3002\u501f\u6b3e\u4eba\u8ca0\u50b5\u6309\u5b63\u5ea6\u91cd\u8a2d\u5229\u7387\uff0c\u7d93\u71df\u8207\u8cc7\u91d1\u5468\u8f49\u7bc0\u594f\u537b\u96e3\u4ee5\u540c\u6b65\uff1b\u6a5f\u69cb\u65b9\u591a\u4f9d\u9760\u5c55\u671f\u64cd\u4f5c\u7de9\u89e3\u77ed\u671f\u58d3\u529b\uff0c\u9019\u7a2e\u65b9\u5f0f\u50c5\u80fd\u61c9\u5c0d\u500b\u9ad4\u98a8\u96aa\uff0c\u82e5\u5927\u91cf\u4e3b\u9ad4\u540c\u6642\u906d\u9047\u6210\u672c\u885d\u64ca\uff0c\u6574\u5957\u904b\u8f49\u9ad4\u7cfb\u4fbf\u6703\u96e3\u4ee5\u70ba\u7e7c\u3002\u7576\u5e02\u5834\u53c3\u8207\u8005\u96c6\u9ad4\u5c0b\u6c42\u9000\u51fa\u6642\uff0c\u5e73\u7a69\u7684\u8cec\u9762\u4f30\u503c\u53cd\u800c\u6703\u63a9\u84cb\u771f\u5be6\u98a8\u96aa\u3002<\/p>\n

\u4fe1\u8cb8\u5e02\u5834\u672c\u8cea\u662f\u4e00\u5834\u591a\u65b9\u535a\u5f08\u3002\u5404\u65b9\u651c\u624b\u5c55\u671f\u3001\u8abf\u6574\u511f\u4ed8\u65b9\u5f0f\uff0c\u5c1a\u6709\u6a5f\u6703\u7b49\u5f85\u7d93\u71df\u6539\u5584\uff1b\u53ef\u4e00\u65e6\u6709\u6a5f\u69cb\u7387\u5148\u63a1\u53d6\u50ac\u6536\u884c\u52d5\uff0c\u5c31\u53ef\u80fd\u76f4\u63a5\u89f8\u767c\u501f\u6b3e\u4eba\u9055\u7d04\uff0c\u8b93\u5168\u9ad4\u53c3\u8207\u8005\u627f\u53d7\u640d\u5931\u3002\u53d7\u6536\u8cbb\u6a21\u5f0f\u5f71\u97ff\uff0c\u4e0d\u5c11\u6a5f\u69cb\u50be\u5411\u65bc\u62d6\u5ef6\u98a8\u96aa\u66b4\u9732\uff0c\u7531\u6b64\u50ac\u751f\u5927\u91cf\u50f5\u5c4d\u50b5\u52d9\u3002\u77ed\u671f\u9055\u7d04\u6578\u64da\u770b\u4f3c\u5e73\u7a69\uff0c\u98a8\u96aa\u537b\u4e0d\u65b7\u5411\u5f8c\u7d2f\u7a4d\u30022026 \u81f3 2028 \u5e74\u5c07\u8fce\u4f86\u50b5\u52d9\u96c6\u4e2d\u5230\u671f\uff0c\u5c46\u6642\u518d\u878d\u8cc7\u74b0\u5883\u96e3\u8a00\u6a02\u89c0\uff0c\u4f01\u696d\u7d93\u71df\u72c0\u6cc1\u8d70\u5f31\u9084\u6703\u9032\u4e00\u6b65\u653e\u5927\u9055\u7d04\u640d\u5931\u3002\u9055\u7d04\u9031\u671f\u4e26\u975e\u7dda\u6027\u6f14\u8b8a\uff0c\u5e02\u5834\u5354\u4f5c\u95dc\u4fc2\u7834\u88c2\u7684\u77ac\u9593\uff0c\u98a8\u96aa\u4fbf\u6703\u96c6\u4e2d\u7206\u767c\u3002<\/p>\n

\u9006\u52e2\u8abf\u6574\u914d\u7f6e\uff0c\u50b5\u5238\u6210\u70ba\u6838\u5fc3\u5c0d\u6c96\u9078\u64c7<\/h2>\n

\u9762\u5c0d\u4fe1\u8cb8\u5e02\u5834\u8b8a\u5c40\uff0cPimco \u8abf\u6574\u914d\u7f6e\u601d\u8def\uff0c\u589e\u914d\u5c0d\u5229\u7387\u8b8a\u52d5\u66f4\u70ba\u654f\u611f\u7684\u5168\u7403\u50b5\u5238\u3002\u5728\u901a\u8139\u7c98\u6027\u3001\u52a0\u606f\u9810\u671f\u5347\u6eab\u7684\u7576\u4e0b\uff0c\u9019\u4e00\u4f48\u5c40\u770b\u4f3c\u9006\u52e2\u800c\u884c\uff0c\u537b\u6709\u8457\u6e05\u6670\u908f\u8f2f\uff1a\u7d93\u6fdf\u8d70\u5f31\u3001\u4fe1\u8cb8\u98a8\u96aa\u62ac\u982d\u968e\u6bb5\uff0c\u4e45\u671f\u8cc7\u7522\u80fd\u5920\u63d0\u4f9b\u6b63\u5411\u6536\u76ca\u5c0d\u6c96\u98a8\u96aa\u3002\u7576\u524d\u50b5\u5238\u6536\u76ca\u7387\u5df2\u8f03\u904e\u53bb\u5341\u5e74\u986f\u8457\u62ac\u5347\uff0c\u5229\u7387\u5c0f\u5e45\u4e0b\u884c\u5c31\u6703\u5e36\u52d5\u50f9\u683c\u660e\u986f\u4e0a\u6f32\uff0c\u6709\u6548\u62b5\u6d88\u6295\u8cc7\u7d44\u5408\u5167\u4fe1\u7528\u5229\u5dee\u8d70\u95ca\u5e36\u4f86\u7684\u8667\u640d\u3002\u512a\u8cea\u50b5\u5238\u5982\u540c\u7de9\u885d\u588a\uff0c\u80fd\u5728\u98a8\u96aa\u4f86\u81e8\u524d\u7bc9\u7262\u7d44\u5408\u9632\u7dda\u3002<\/p>\n

\u5728\u5730\u7de3\u885d\u7a81\u5f15\u767c\u62cb\u552e\u4e4b\u5f8c\uff0c\u6a5f\u69cb\u4e5f\u958b\u59cb\u4f48\u5c40\u6b50\u6d32\u4e3b\u6b0a\u50b5\u5238\u3002\u5730\u7de3\u5c40\u52e2\u63a8\u9ad8\u6cb9\u50f9\u3001\u52a0\u5287\u901a\u8139\u64d4\u6182\uff0c\u4f46\u4e26\u672a\u626d\u8f49\u6574\u9ad4\u901a\u7e2e\u8da8\u52e2\u3002\u6b50\u6d32\u592e\u884c\u653f\u7b56\u8abf\u6574\u6eef\u5f8c\uff0c\u5f8c\u7e8c\u5177\u5099\u964d\u606f\u7a7a\u9593\u3002\u6b50\u6d32\u6838\u5fc3\u53ca\u90e8\u5206\u908a\u7de3\u5340\u57df\u4e3b\u6b0a\u50b5\u5238\uff0c\u64c1\u6709\u79c1\u52df\u4fe1\u8cb8\u7121\u6cd5\u6bd4\u64ec\u7684\u5e02\u5834\u6df1\u5ea6\u8207\u6d41\u52d5\u6027\u3002\u6050\u614c\u60c5\u7dd2\u5f15\u767c\u7684\u975e\u7406\u6027\u4e0b\u8dcc\uff0c\u6070\u6070\u5275\u9020\u4e86\u4f48\u5c40\u6a5f\u6703\u3002\u9019\u985e\u8cc7\u7522\u4fe1\u606f\u900f\u660e\u3001\u64c1\u6709\u6700\u7d42\u515c\u5e95\u529b\u91cf\uff0c\u50f9\u683c\u80fd\u5920\u5145\u5206\u53cd\u6620\u5229\u7a7a\uff0c\u662f\u61c9\u5c0d\u9055\u7d04\u9031\u671f\u7684\u53ef\u9760\u9632\u79a6\u54c1\u7a2e\u3002<\/p>\n

\u91cd\u5851\u6295\u8cc7\u908f\u8f2f\uff0c\u4ee5\u53cd\u8106\u5f31\u601d\u7dad\u7a7f\u8d8a\u9031\u671f<\/h2>\n

\u55ae\u7d14\u535a\u53d6\u5229\u5dee\u6536\u76ca\u7684\u7b56\u7565\uff0c\u7d42\u7a76\u96e3\u4ee5\u7a7f\u8d8a\u5e02\u5834\u8b8a\u5c40\u3002\u9019\u985e\u6a21\u5f0f\u5e38\u614b\u4e0b\u6536\u76ca\u7a69\u5b9a\uff0c\u4e00\u65e6\u5e02\u5834\u98a8\u683c\u5207\u63db\uff0c\u4fbf\u6703\u906d\u9047\u5927\u984d\u8667\u640d\u3002\u5177\u5099\u53cd\u8106\u5f31\u5c6c\u6027\u7684\u7d44\u5408\uff0c\u624d\u80fd\u5728\u6ce2\u52d5\u52a0\u5287\u3001\u8cc7\u7522\u76f8\u95dc\u6027\u8f49\u8b8a\u6642\u638c\u63e1\u4e3b\u52d5\u3002\u642d\u914d\u73fe\u91d1\u8207\u9577\u4e45\u671f\u512a\u8cea\u50b5\u5238\u3001\u56b4\u63a7\u4fe1\u7528\u98a8\u96aa\u3001\u9078\u64c7\u5e36\u6709\u7d50\u69cb\u6027\u4fdd\u8b77\u7684\u54c1\u7a2e\uff0c\u4e0d\u4f9d\u8cf4\u55ae\u4e00\u5e02\u5834\u6a02\u89c0\u9810\u671f\uff0c\u65b9\u80fd\u5e73\u7a69\u7a7f\u8d8a\u9031\u671f\u3002\u4e00\u5473\u53c3\u7167\u904e\u5f80\u884c\u60c5\u8ffd\u9010\u79c1\u52df\u4fe1\u8cb8\u9ad8\u6536\u76ca\uff0c\u672c\u8cea\u662f\u9677\u5165\u4e86\u7d93\u9a57\u4e3b\u7fa9\u8aa4\u5340\u3002<\/p>\n

\u5224\u65b7\u5f8c\u7e8c\u8d70\u5411\uff0c\u7121\u9700\u88ab\u5e02\u5834\u5ba3\u50b3\u8a71\u8853\u8aa4\u5c0e\uff0c\u91cd\u9ede\u89c0\u5bdf\u5e7e\u985e\u6838\u5fc3\u4fe1\u865f\uff1a\u8cb8\u6b3e\u5c55\u671f\u3001\u5be6\u7269\u511f\u4ed8\u689d\u6b3e\u4f7f\u7528\u589e\u591a\uff0c\u6760\u6746\u8cb8\u6b3e\u4e8c\u7d1a\u5e02\u5834\u8cb7\u8ce3\u50f9\u5dee\u8d70\u95ca\uff0c\u4f01\u696d\u5c0b\u6c42\u6551\u52a9\u878d\u8cc7\u4e14\u501f\u8cb8\u689d\u6b3e\u6536\u7dca\uff0c\u4ee5\u53ca\u9ad8\u5229\u7387\u74b0\u5883\u4e0b\u4f01\u696d\u511f\u50b5\u80fd\u529b\u6301\u7e8c\u5f31\u5316\uff0c\u9019\u4e9b\u8de1\u8c61\u540c\u6b65\u51fa\u73fe\uff0c\u610f\u5473\u8457\u5e02\u5834\u5e73\u8861\u5373\u5c07\u88ab\u6253\u7834\u3002\u5b8f\u89c0\u5c64\u9762\uff0c\u9280\u884c\u653e\u8cb8\u6a19\u6e96\u3001\u4e2d\u5c0f\u4f01\u696d\u666f\u6c23\u5ea6\u3001\u5be6\u9ad4\u9700\u6c42\u8207\u5be6\u969b\u6536\u76ca\u7387\u8b8a\u5316\uff0c\u4e5f\u662f\u98a8\u96aa\u50b3\u5c0e\u7684\u91cd\u8981\u98a8\u5411\u6a19\u3002<\/p>\n

\u76ee\u524d\u4f86\u770b\uff0c\u672c\u8f2a\u98a8\u96aa\u5c1a\u672a\u6f14\u8b8a\u70ba\u7cfb\u7d71\u6027\u5371\u6a5f\uff0c\u4f46\u8667\u640d\u5df2\u6210\u65e2\u5b9a\u4e8b\u5be6\u3002\u4fe1\u8cb8\u9031\u671f\u81ea\u6709\u904b\u884c\u898f\u5f8b\uff0c\u6295\u8cc7\u8005\u9700\u8981\u6253\u9020\u7121\u9700\u4f9d\u8cf4\u7d93\u6fdf\u8edf\u8457\u9678\u4e5f\u80fd\u7a69\u5065\u904b\u884c\u7684\u6295\u8cc7\u7d44\u5408\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

Pimco \u8b66\u544a\u79c1\u4eba\u4fe1\u8cb8\u5e02\u5834\u9055\u7d04\u98a8\u96aa\u4e0a\u5347\uff0c\u63d0\u9192\u5916\u754c\u300c\u97cc\u6027\u795e\u8a71\u300d\u8106\u5f31\uff0c\u4e26\u5f37\u8abf\u5728\u7d93\u6fdf\u964d\u6eab\u6642\u671f\u4ee5\u4e45\u671f\u4f5c\u70ba\u5c0d\u6c96\u7684\u91cd\u8981\u6027\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":[801,809,773],"class_list":["post-643661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news-zh-hant","tag-801","tag-809","tag-773"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/643661","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=643661"}],"version-history":[{"count":3,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/643661\/revisions"}],"predecessor-version":[{"id":643682,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/643661\/revisions\/643682"}],"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=643661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=643661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=643661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}