{"id":644599,"date":"2026-06-18T02:00:26","date_gmt":"2026-06-18T09:00:26","guid":{"rendered":"https:\/\/nai500.com\/?p=644599"},"modified":"2026-06-18T02:18:45","modified_gmt":"2026-06-18T09:18:45","slug":"%e7%89%9b%e5%b8%82-%e4%bf%a1%e8%99%9f-%e6%a8%99%e6%99%ae-500-%e6%9b%86%e5%8f%b2%e4%b8%8a-%e4%b8%83%e6%ac%a1-%e5%85%a9%e5%80%8b%e6%9c%88-%e6%bc%b2%e8%b6%85-19-%e5%be%8c%e5%b8%82","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2026\/06\/%e7%89%9b%e5%b8%82-%e4%bf%a1%e8%99%9f-%e6%a8%99%e6%99%ae-500-%e6%9b%86%e5%8f%b2%e4%b8%8a-%e4%b8%83%e6%ac%a1-%e5%85%a9%e5%80%8b%e6%9c%88-%e6%bc%b2%e8%b6%85-19-%e5%be%8c%e5%b8%82\/","title":{"rendered":"\u725b\u5e02\u4fe1\u865f\uff1f\u6a19\u666e500\u66c6\u53f2\u4e0a\u4e03\u6b21\u51fa\u73fe\u5169\u500b\u6708\u6f32\u8d8519%\u5f8c\uff0c\u5f8c\u5e02\u5747\u5927\u6f32"},"content":{"rendered":"

\u4eca\u5e743\u6708\uff0c\u7f8e\u570b\u7e3d\u7d71\u7279\u6717\u666e\u6388\u6b0a\u5c0d\u4f0a\u6717\u91c7\u53d6\u8ecd\u4e8b\u884c\u52d5\uff0c\u5730\u7de3\u653f\u6cbb\u98a8\u96aa\u9a5f\u7136\u5347\u6eab\u3002\u5e03\u502b\u7279\u539f\u6cb9\u4e00\u5ea6\u77ed\u66ab\u7ad9\u4e0a\u6bcf\u6876130\u7f8e\u5143\uff0c\u52752022\u5e743\u6708\u4ee5\u4f86\u65b0\u9ad8\u3002\u6295\u8cc7\u8005\u64d4\u5fc3\u80fd\u6e90\u4f9b\u61c9\u4e2d\u65b7\u52a0\u5287\u901a\u8139\uff0c\u8feb\u4f7f\u7f8e\u806f\u5132\u52a0\u606f\uff0c\u6a19\u666e500\u6307\u6578\u5f9e3\u6708\u9ad8\u9ede\u4e00\u5ea6\u56de\u8abf9%\u3002<\/p>\n

\u7136\u800c\uff0c\u5e02\u5834\u7684\u64d4\u6182\u4e26\u672a\u6301\u7e8c\u592a\u4e45\u3002\u5728\u5f37\u52c1\u8ca1\u5831\u7684\u63a8\u52d5\u4e0b\uff0c\u7f8e\u80a1\u8fc5\u901f\u64fa\u812b\u5730\u7de3\u9670\u973e\uff0c\u958b\u555f\u4e86\u4e00\u8f2a\u66c6\u53f2\u6027\u7684\u53cd\u5f48\u884c\u60c5\u3002\u622a\u81f35\u670829\u65e5\uff0c\u6a19\u666e500\u6307\u6578\u5728\u77ed\u77ed41\u500b\u4ea4\u6613\u65e5\u5167\u5f9e3\u6708\u4f4e\u9ede\u98c6\u5347\u8d85\u904e19%\u3002<\/p>\n

19%\u6f32\u5e45\u80cc\u5f8c\u7684\u66c6\u53f2\u898f\u5f8b<\/b><\/strong><\/p>\n

\u9019\u4e00\u6f32\u5e45\u5728\u7d71\u8a08\u4e0a\u6975\u70ba\u7f55\u898b\u3002DataTrek Research\u7684\u5206\u6790\u5e2b\u6307\u51fa\uff0c\u8a72\u53cd\u5f48\u5df2\u903c\u8fd1\u201c\u96d9\u897f\u683c\u746a\u201d\u7d1a\u5225\uff0c\u610f\u5473\u8457\u6f32\u5e45\u504f\u96e2\u4e86\u4efb\u610f100\u5929\u5e73\u5747\u56de\u5831\u7387\u7684\u5169\u500b\u6a19\u51c6\u5dee\u2014\u2014\u901a\u5e38\u6bcf100\u500b\u4ea4\u6613\u65e5\u624d\u6703\u51fa\u73fe\u4e00\u5169\u6b21\u3002<\/p>\n

\u6839\u64daCarson Investment Research\u7684\u7d71\u8a08\uff0c\u81ea1950\u5e74\u4ee5\u4f86\uff0c\u6a19\u666e500\u6307\u6578\u50c5\u6709\u4e03\u6b21\u5be6\u73fe\u5169\u500b\u6708\u6f32\u5e45\u8d85\u904e19%\u3002\u800c\u9019\u4e03\u6b21\u4fe1\u865f\u7121\u4e00\u4f8b\u5916\u5730\u9810\u793a\u8457\u5f8c\u5e02\u7e7c\u7e8c\u4e0a\u6f32\uff0c\u4e14\u56de\u5831\u76f8\u7576\u53ef\u89c0\uff1a<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\u51fa\u73fe\u6642\u9593<\/td>\n\u6b64\u5f8c12\u500b\u6708\u6a19\u666e500\u56de\u5831<\/td>\n<\/tr>\n
1975\u5e742\u6708<\/td>\n29%<\/td>\n<\/tr>\n
1982\u5e7410\u6708<\/td>\n32%<\/td>\n<\/tr>\n
1991\u5e743\u6708<\/td>\n8%<\/td>\n<\/tr>\n
1998\u5e7412\u6708<\/td>\n19%<\/td>\n<\/tr>\n
2009\u5e744\u6708<\/td>\n36%<\/td>\n<\/tr>\n
2020\u5e745\u6708<\/td>\n46%<\/td>\n<\/tr>\n
2025\u5e746\u6708<\/td>\n23%<\/td>\n<\/tr>\n
\u5e73\u5747\u503c<\/b><\/strong><\/td>\n28%<\/b><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u82e5\u5c0d\u6a19\u66c6\u53f2\u5747\u503c\uff0c\u6a19\u666e500\u6307\u65785\u670829\u65e5\u6536\u65bc7580\u9ede\uff0c\u4e00\u5e74\u5f8c\u6709\u671b\u9054\u52309700\u9ede\uff0c\u8f03\u7576\u524d7511\u9ede\u6709\u7d0429%\u7684\u4e0a\u884c\u7a7a\u9593\u3002<\/p>\n

\u7d0d\u65af\u9054\u514bDorsey Wright\u7684\u6578\u64da\u4e5f\u5370\u8b49\u4e86\u9019\u4e00\u898f\u5f8b\u2014\u2014\u81ea1957\u5e74\u4ee5\u4f86\uff0c\u6a19\u666e500\u50c5\u6709\u4e5d\u6b21\u6efe\u52d5\u5169\u500b\u6708\u8868\u73fe\u512a\u65bc19.49%\uff0c\u5176\u5f8c\u4e00\u5e74\u548c\u5169\u5e74\u7684\u5e73\u5747\u56de\u5831\u5747\u8d85\u904e25%\u3002<\/p>\n

\u76c8\u5229\u589e\u9577\u624d\u662f\u771f\u6b63\u7684\u5f15\u64ce<\/b><\/strong><\/p>\n

\u66c6\u53f2\u4fe1\u865f\u56fa\u7136\u5f15\u4eba\u6ce8\u76ee\uff0c\u4f46\u63a8\u52d5\u5e02\u5834\u7684\u6839\u672c\u52d5\u529b\u4ecd\u662f\u4f01\u696d\u76c8\u5229\u3002FactSet\u6578\u64da\u986f\u793a\uff0c\u76e1\u7ba1\u9762\u81e8\u6cb9\u50f9\u9ad8\u4f01\u548c\u5730\u7de3\u4e0d\u78ba\u5b9a\u6027\uff0c\u6a19\u666e500\u6210\u5206\u80a1\u4e00\u5b63\u5ea6\u71df\u6536\u540c\u6bd4\u589e\u957711.8%\uff082022\u5e74\u4ee5\u4f86\u6700\u5feb\uff09\uff0c\u76c8\u5229\u589e\u9577\u905428.8%\uff082021\u5e74\u4ee5\u4f86\u6700\u5feb\uff09\u3002\u83ef\u723e\u8857\u9810\u8a08\u5168\u5e74\u76c8\u5229\u589e\u957723%\uff0c\u79d1\u6280\u548c\u80fd\u6e90\u677f\u584a\u9818\u8dd1\u3002<\/p>\n

\u9ad8\u76db\u5df2\u5c07\u6a19\u666e500\u5e74\u5e95\u76ee\u6a19\u5f9e7600\u9ede\u4e0a\u8abf\u81f38000\u9ede\uff0c\u7406\u7531\u662f\u201c\u4eca\u5e74\u8fc4\u4eca\u7684\u5168\u90e8\u56de\u5831\u5747\u7531\u76c8\u5229\u589e\u9577\u9a45\u52d5\u3002\u201d\u622a\u81f36\u670812\u65e5\uff0c\u6307\u6578\u6210\u5206\u80a1\u76ee\u6a19\u50f9\u4e2d\u4f4d\u6578\u96b1\u542b17%\u7684\u4e0a\u884c\u7a7a\u9593\u3002<\/p>\n

\u4e0d\u53ef\u5ffd\u8996\u7684\u98a8\u96aa<\/b><\/strong><\/p>\n

\u7136\u800c\uff0c\u6a02\u89c0\u9810\u671f\u4e4b\u4e0b\u6f5b\u85cf\u96b1\u6182\u30025\u6708CPI\u901a\u8139\u7387\u98c6\u5347\u81f34.2%\uff0c\u70ba2023\u5e74\u4ee5\u4f86\u6700\u9ad8\u3002\u82e5\u901a\u8139\u6301\u7e8c\u9ad8\u4f01\uff0c\u7f8e\u806f\u5132\u53ef\u80fd\u52a0\u606f\u2014\u2014\u66f4\u9ad8\u7684\u501f\u8cb8\u6210\u672c\u5c07\u6291\u5236\u4f01\u696d\u76c8\u5229\u589e\u9577\uff0c\u50b5\u5238\u6536\u76ca\u7387\u4e0a\u5347\u4e5f\u6703\u5206\u6d41\u80a1\u5e02\u8cc7\u91d1\u3002<\/p>\n

\u5fb7\u610f\u5fd7\u9280\u884c\u5247\u63d0\u51fa\u4e86\u4e00\u500b\u4ee4\u4eba\u8b66\u60d5\u7684\u66c6\u53f2\u985e\u6bd4\uff1a\u9664\u7d93\u6fdf\u8870\u9000\u5f8c\u7684\u53cd\u5f48\u5916\uff0c\u4e8c\u6230\u4ee5\u4f86\u552f\u4e00\u4e00\u6b21\u6a19\u666e500\u4ee5\u5982\u6b64\u901f\u5ea6\u4e0a\u6f32\uff0c\u767c\u751f\u57281987\u5e74\u201c\u9ed1\u8272\u661f\u671f\u4e00\u201d\u80a1\u707d\u524d\u6578\u6708\u30021987\u5e74\u80a1\u707d\u524d\uff0c\u6a19\u666e500\u622a\u81f38\u6708\u5e95\u5e74\u5167\u6f32\u5e45\u5df2\u9054\u7d0439%\uff0c\u7f8e\u806f\u5132\u6b63\u5728\u52a0\u606f\uff0c\u5e02\u5834\u666e\u904d\u64d4\u6182\u8cbf\u6613\u8d64\u5b57\u548c\u9810\u7b97\u8d64\u5b57\u3002<\/p>\n

\u5e02\u5834\u5ee3\u5ea6\u4e5f\u5728\u6301\u7e8c\u6536\u7a84\u3002Bespoke Investment Group\u6307\u51fa\uff0c\u81ea3\u670830\u65e5\u4f4e\u9ede\u4ee5\u4f86\uff0c\u79d1\u6280\u677f\u584a\u98c6\u5347\u8d8545%\uff0c\u6a19\u666e500\u8868\u73fe\u6700\u597d\u7684\u524d13\u53ea\u80a1\u7968\u5168\u90e8\u4f86\u81ea\u79d1\u6280\u677f\u584a\u3002Ned Davis Research\u7b56\u7565\u5e2b\u8868\u793a\uff0c\u904e\u53bb\u5169\u500b\u6708\u8dd1\u8d0f\u6307\u6578\u7684\u6210\u5206\u80a1\u6bd4\u4f8b\u5df2\u964d\u81f31972\u5e74\u4ee5\u4f86\u7b2c\u4e09\u4f4e\u3002\u9019\u610f\u5473\u8457\u4e0a\u6f32\u4e3b\u8981\u4f9d\u8cf4\u5c11\u6578\u79d1\u6280\u9f8d\u982d\uff0c\u591a\u6578\u80a1\u7968\u4e26\u672a\u540c\u6b65\u53d7\u76ca\u3002<\/p>\n

\u7d9c\u4e0a\u6240\u8ff0\uff0c\u6a19\u666e500\u5169\u6708\u6f32\u8d8519%\u7684\u66c6\u53f2\u4fe1\u865f\u78ba\u5be6\u4ee4\u4eba\u632f\u596e\u2014\u2014\u66c6\u53f2\u5747\u503c\u6697\u793a\u672a\u4f86\u4e00\u5e74\u6709\u8fd1\u4e09\u6210\u7684\u6f5b\u5728\u6f32\u5e45\u3002\u4f46\u6295\u8cc7\u8005\u4e5f\u9700\u6e05\u9192\u8a8d\u8b58\u5230\uff0c\u901a\u8139\u5347\u6eab\u3001\u52a0\u606f\u98a8\u96aa\u3001\u5e02\u5834\u5ee3\u5ea6\u6536\u7a84\u4ee5\u53ca1987\u5e74\u7684\u66c6\u53f2\u985e\u6bd4\uff0c\u90fd\u5728\u63d0\u9192\u9019\u8f2a\u884c\u60c5\u4e26\u975e\u5766\u9014\u3002\u66c6\u53f2\u898f\u5f8b\u63d0\u4f9b\u7684\u662f\u6982\u7387\u53c3\u8003\uff0c\u800c\u975e\u78ba\u5b9a\u6027\u7684\u627f\u8afe\u3002\u5728\u6a02\u89c0\u8207\u8b39\u614e\u4e4b\u9593\u4fdd\u6301\u5e73\u8861\uff0c\u6216\u8a31\u662f\u7576\u4e0b\u6700\u7406\u6027\u7684\u505a\u6cd5\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u4eca\u5e743\u6708\uff0c\u7f8e\u570b\u7e3d\u7d71\u7279\u6717\u666e\u6388\u6b0a\u5c0d\u4f0a\u6717\u91c7\u53d6\u8ecd\u4e8b\u884c\u52d5\uff0c\u5730\u7de3\u653f\u6cbb\u98a8\u96aa\u9a5f\u7136\u5347\u6eab\u3002\u5e03\u502b\u7279\u539f\u6cb9\u4e00\u5ea6\u77ed\u66ab\u7ad9\u4e0a\u6bcf\u6876130\u7f8e\u5143\uff0c\u5275 […]<\/p>\n","protected":false},"author":31,"featured_media":587801,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[426,431],"tags":[2416,2177,1677,574],"class_list":["post-644599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news-zh-hant","category-trends-strategies-zh-hant","tag-u-s-stocks-zh-hant","tag-2177","tag-technology-zh-hant","tag-574","sectors--zh-hant","sectors-life-science-zh-hant","sectors-financial-products-zh-hant","sectors-technology-zh-hant","locations-us-zh-hant","exchange-nasdaq-zh-hant","exchange-nyse-zh-hant"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/644599","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\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=644599"}],"version-history":[{"count":3,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/644599\/revisions"}],"predecessor-version":[{"id":644602,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/644599\/revisions\/644602"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/587801"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=644599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=644599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=644599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}