{"id":3204,"date":"2018-12-06T15:06:01","date_gmt":"2018-12-06T07:06:01","guid":{"rendered":"https:\/\/www.mpfdiy.com\/?p=3204"},"modified":"2020-02-26T22:35:03","modified_gmt":"2020-02-26T14:35:03","slug":"%e9%80%80%e4%bc%91%e7%90%86%e8%b2%a17-%e9%8a%80%e8%89%b2%e5%82%b5%e5%88%b8","status":"publish","type":"post","link":"https:\/\/www.mpfdiy.com\/2018\/12\/%e9%80%80%e4%bc%91%e7%90%86%e8%b2%a17-%e9%8a%80%e8%89%b2%e5%82%b5%e5%88%b8\/","title":{"rendered":"\u9000\u4f11\u7406\u8ca1#7 \u2013 \u9280\u8272\u50b5\u5238"},"content":{"rendered":"<h2><span style=\"color: #04b2f2;\"><strong><span style=\"font-size: 14pt;\">\u9000\u4f11\u7406\u8ca1#7 \u2013 \u9280\u8272\u50b5\u5238<\/span><\/strong><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.mpfdiy.com\/2018\/11\/%e9%80%80%e4%bc%91%e7%90%86%e8%b2%a16-%e3%80%8c%e9%9c%80%e6%b1%82%e3%80%8d%e3%80%8c%e6%ac%b2%e6%b1%82%e3%80%8d%e3%80%8c%e9%81%ba%e7%94%a2%e3%80%8d\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-size: 14pt;\">\u7e8c\u4e0a\u6587<\/span><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u5927\u5bb6\u5c0diBond\u61c9\u8a72\u90fd\u4e0d\u964c\u751f\uff0c\u81ea\u5f9eiBond\u6210\u70ba\u7d55\u97ff\u4e4b\u5f8c\uff0c\u4fbf\u5269\u4e0b\u53ea\u6709\u8001\u53cb\u8a18\u624d\u6709\u8cc7\u683c\u6295\u8cc7\u7684<strong><span style=\"color: #04b2f2;\">\u9280\u8272\u50b5\u5238<\/span><\/strong>\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u6295\u8cc7\u5148\u554f<a href=\"https:\/\/www.mpfdiy.com\/2016\/09\/%e5%9b%9e%e5%a0%b1%e5%8f%8a%e6%b3%a2%e5%b9%85\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u56de\u5831\u53ca\u6ce2\u5e45<\/a>\uff0c\u6ce2\u5e45\u662f\u56de\u5831\u7684\u8b8a\u5316\uff0c\u7531\u65bc\u9280\u8272\u50b5\u5238\u7684<span style=\"color: #04b2f2;\">\u56de\u5831\u5927\u7d04\u7b49\u65bc\u901a\u8139\u7387<\/span>\uff08\u75311980\u5e74\u81f32017\u5e74\u671f\u5927\u7d04\u70ba<span style=\"color: #04b2f2;\">4%<\/span>\u81f35%\uff09\uff0c\u6240\u4ee5\u9280\u8272\u50b5\u5238<span style=\"color: #000000;\">\u56de\u5831\u7684<\/span>\u6ce2\u5e45\u4fbf\u53ef\u4ee5\u53c3\u8003\u901a\u8139\u7387\u7684\u6ce2\u5e45\uff0c\u9999\u6e2f\u901a\u8139\u7387\u7684<span style=\"color: #04b2f2;\">\u6309\u6708\u6ce2\u5e45<\/span>\u75311980\u5e74\u81f32017\u5e74\u5927\u7d04\u70ba<span style=\"color: #04b2f2;\">1.4%<\/span>\uff08<span style=\"color: #04b2f2;\">\u6309\u5e74\u6ce2\u5e45<\/span>\u5927\u7d04\u70ba<span style=\"color: #04b2f2;\">5%<\/span>\uff09\uff0c\u6b64\u901a\u8139\u7387\uff084%\uff09\u53ca\u6ce2\u5e45\uff08\u6309\u5e74\u6ce2\u5e455%\uff09\u4ea6\u7528\u65bc\u300a<a href=\"https:\/\/www.mpfdiy.com\/%e9%97%9c%e6%96%bc-mpfdiy\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u7a4d\u91d1\u5927\u53cd\u64ca<\/a>\u300b\u7b2c121\u9801\u7684\u8a08\u7b97\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u90a3\u9ebc\uff0c\u73fe\u6642\u9999\u6e2f\u7684\u901a\u8139\u7387\u662f\u591a\u5c11\uff1f\u7b54\u6848\u662f\u5728\u653f\u5e9c\u7d71\u8a08\u7f72\u7684<a href=\"https:\/\/www.censtatd.gov.hk\/hkstat\/sub\/sp270.jsp?productCode=B1060001\" target=\"_blank\" rel=\"noopener noreferrer\">\u7db2\u7ad9<\/a>\uff0c\u7d71\u8a08\u7f72\u7db2\u7ad9\u7684\u8cc7\u6599\u66f4\u65b0\u5f97\u5341\u5206\u8cbc\u5e02\uff0c\u6700\u65b0\u6578\u5b57\uff082018\u5e7410\u6708\uff09\u7684\u6309\u5e74\u901a\u8139\u7387\u70ba2.7%\u3002\u800c\u9280\u8272\u50b5\u5238\u7684\u6d3e\u606f\u4e00\u5e74\u5169\u6b21\uff0c\u5e74\u606f\u7387\u70ba\u6d3e\u606f\u65e5\u524d6\u500b\u6708\u7684\u6309\u5e74\u901a\u8139\u7387\u7684\u5e73\u5747\u503c\u8a08\u7b97\uff0c2018\u5e747\u6708\u7684\u6d3e\u606f\u5e74\u606f\u7387\u4fbf\u70ba2.3%\uff0c<a href=\"https:\/\/www.hkgb.gov.hk\/tc\/retail\/Silver_Rates.html\" target=\"_blank\" rel=\"noopener noreferrer\">\u898b\u6b64<\/a>\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u9280\u8272\u50b5\u5238\u5728\u9999\u6e2f\u51fa\u73fe\u901a\u8139\u7684\u60c5\u6cc1\u4e0b\u6709\u606f\u6536\uff0c\u4f46\u5982\u679c\u9999\u6e2f\u51fa\u73fe\u901a\u7e2e\uff0c\u9280\u8272\u50b5\u5238\u7684\u6295\u8cc7\u8005\u6703\u5426\u5012\u904e\u4f86\u9700\u8981\u4ed8\u9322\u7d66\u653f\u5e9c\uff1f\u4e0d\u6703\u5566\uff0c\u9999\u6e2f\u653f\u5e9c\u4e0d\u662f\u50cf\u6295\u8cc7\u9280\u884c\u822c\u8207\u6295\u8cc7\u8005\u5c0d\u8ced\uff08<a href=\"https:\/\/www.mpfdiy.com\/2017\/12\/%E5%96%AE%E4%B8%80%E6%8A%95%E8%B3%87%E8%A1%8D%E7%94%9F%E5%B7%A5%E5%85%B7%E6%98%AF%E3%80%8C%E6%B0%B8%E7%84%A1%E8%B4%8F%E5%AE%B6%E4%B9%8B%E6%88%B0%E3%80%8D\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u898b\u6b64<\/a>\uff09\uff0c\u9280\u8272\u50b5\u5238\u57fa\u672c\u4e0a\u662f\u793e\u6703\u798f\u5229\uff0c\u6240\u4ee5\uff0c\u9280\u8272\u50b5\u5238\u6709\u6d3e\u606f\u4e0b\u9650\uff0c\u4ee5\u5f80\u662f\u70ba2%\uff0c\u800c\u6700\u65b02018\u5e74\u767c\u884c\u7684\u70ba3%\uff08<a href=\"https:\/\/www.hkgb.gov.hk\/tc\/retail\/Silver_Issue_Circulars.html\" target=\"_blank\" rel=\"noopener noreferrer\">\u898b\u6b64<\/a>\uff09\uff0c\u5373\u662f\u5982\u679c\u901a\u8139\u7387\u70ba3%\u4ee5\u4e0b\uff0c\u751a\u81f3\u901a\u7e2e\uff0c\u9999\u6e2f\u653f\u5e9c\u90fd\u6703\u6d3e\u5e74\u606f3%\uff082018\u5e74\u767c\u884c\uff09\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u9280\u8272\u50b5\u5238\u662f\u901a\u8139\u639b\u52fe\u50b5\u5238\u7684\u4e00\u7a2e\uff0c\u5f9e\u53e6\u4e00\u89d2\u5ea6\u53ef\u4ee5\u770b\u6210\u70ba\u5229\u7387\u6389\u671f\uff08interest rate swap\uff09\u7684\u4e00\u985e\uff0c\u8001\u53cb\u8a18\u653e\u68c4\u8f03\u7a69\u5b9a\u7684\u9280\u884c\u5b58\u6b3e\u5229\u7387\u56de\u5831\u8207\u53ca\u8cc7\u91d1\u6d41\u52d5\u6027\uff0c\u4ee5\u63db\u53d6\u8f03\u4e0d\u7a69\u5b9a\u7684\u901a\u8139\u7387\u56de\u5831\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u4e0d\u7a69\u5b9a\u7684\u901a\u8139\u7387\u56de\u5831\u53ef\u4ee5\u4ee5<span style=\"color: #04b2f2;\">\u6ce2\u5e45<span style=\"color: #000000;\">\u8868\u9054\uff0c\u800c\u627f\u53d7\u901a\u8139\u7387\u6bd4\u9280\u884c\u5b58\u6b3e\u5229\u7387\u70ba\u9ad8\u7684\u6ce2\u5e45\uff0c\u5c31\u662f\u70ba\u4e86\u8cfa\u53d6\u7531\u8a72\u6ce2\u5e45\u800c\u4f86\u7684\u984d\u5916\u56de\u5831\uff08\u5373\u98a8\u96aa\u6ea2\u5229\uff09\u3002\u6309\u5f37\u7a4d\u91d1\u74b0\u5883\uff0c1%\u7684\u6309\u6708\u6ce2\u5e45\u80fd\u63d0\u4f9b1%\u7684\u5e74\u5747\u56de\u5831\uff0c\u4ee5\u5f80\u7576\u9280\u8272\u50b5\u5238\u67092%\u56de\u5831\u4e0b\u9650\u7684\u7684\u8a71\uff0c\u9280\u8272\u50b5\u5238\u7684\u6d3e\u606f\u6ce2\u5e45\u6bd4\u901a\u8139\u7387\u6ce2\u5e45\u66f4\u4f4e\uff0c\u9280\u8272\u50b5\u5238\u6d3e\u606f\u75312000\u5e74\u81f32017\u5e74\u671f\u9593\u7684\u6309\u6708\u6ce2\u5e45\u5927\u7d04\u70ba0.4%\u3002\u6240\u4ee5\u6309CAPM\u7406\u8ad6\uff0c\u5373<strong>\u5408\u7406\u671f\u671b\u56de\u5831=\u7121\u98a8\u96aa\u56de\u5831+\u98a8\u96aa\u56de\u5831<\/strong>\uff0c<strong><span style=\"color: #04b2f2;\">\u9280\u8272\u50b5\u5238\u8fd1\u5e74\u4f86\u5408\u7406\u7684\u671f\u671b\u56de\u5831\u61c9\u70ba\u300e6\u500b\u6708\u9280\u884c\u5b9a\u5b58+0.4%\u300f<\/span><\/strong>\uff0c\u5c0d\u61c96\u500b\u6708\u9280\u884c\u5b9a\u5b58\u662f\u56e0\u70ba\u9280\u8272\u50b5\u5238\u6bcf6\u500b\u6708\u5b9a\u4e00\u6b21\u66f4\u65b0\u6d3e\u606f\u7387\u3002<\/span><\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u73fe\u6642\u7684\u9280\u8272\u50b5\u5238\u70ba\u671f\u4e09\u5e74\uff0c<span style=\"color: #04b2f2;\"><span style=\"color: #000000;\">6\u500b\u6708\u6d3e\u606f\u4e00\u6b21<\/span><\/span>\u5408\u5171\u6d3e6\u6b21\u606f\u3002\u4e2d\u9014\u96e2\u5834\u53ef\u4ee5<span style=\"color: #04b2f2;\">\u6309\u539f\u50f9\u8ce3\u7d66\u653f\u5e9c<\/span>\u3002\u9280\u8272\u50b5\u5238\u4e0d\u50cfiBond\uff0c<span style=\"color: #04b2f2;\">\u6c92\u6709\u4e8c\u624b\u5e02\u5834<\/span>\uff0c\u6240\u4ee5<span style=\"color: #04b2f2;\">\u5916\u9593\u5229\u7387\u53ca\u5e02\u5834\u6c23\u6c1b\u7684\u8b8a\u5316\u4e0d\u5f71\u97ff\u50b5\u50f9<\/span>\uff0c\u53ea\u5f71\u97ff\u6295\u8cc7\u8005\u7684\u6a5f\u6703\u6210\u672c\u6216\u672c\u91d1\u6210\u672c\u3002\u4f46\u8fd1\u5e74\u4f86\u9999\u6e2f\u9280\u884c\u6c34\u6d78\uff0c\u9999\u6e2f\u9280\u884c\u52a0\u606f\u6b65\u4f10\u8ddf\u4e0d\u4e0a\u7f8e\u570b\uff0c\u800c\u7f8e\u570b\u52a0\u606f\u6309\u7f8e\u570b\u901a\u8139\u8b8a\u5316\uff0c\u52a0\u4e0a\u9999\u6e2f\u7684\u901a\u8139\u7387\u57fa\u672c\u4e0a\u8207\u7f8e\u570b\u540c\u6b65\uff0c\u898b\u4e0b\u5716\uff0c\u56e0\u6b64\uff0c\u672a\u4f86\u5e7e\u5e74\u9999\u6e2f\u901a\u8139\u7387\u5f88\u5927\u6a5f\u6703\u9ad8\u65bc\u9999\u6e2f\u606f\u53e3\uff0c\u9280\u8272\u50b5\u5238\u6d3e\u606f\uff08\u5373\u9999\u6e2f\u901a\u8139\u7387\u62163%\u4e0b\u9650\u4fdd\u8b49\uff09\u5982\u679c\u9ad8\u65bc<span style=\"color: #04b2f2;\"><span style=\"color: #000000;\">\u5408\u7406\u671f\u671b\u56de\u5831\u7684<strong>\u300e<\/strong>6\u500b\u6708\u9280\u884c\u5b9a\u5b58+0.4%<strong>\u300f<\/strong>\u7684\u8a71\uff0c\u4fbf\u503c\u5f97\u6295\u8cc7<\/span><\/span>\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u00a0<\/span><br \/>\n<iframe loading=\"lazy\" src=\"https:\/\/d3fy651gv2fhd3.cloudfront.net\/embed\/?s=hongkongconpriindcpi&amp;v=201810230922y&amp;d1=20080101&amp;d2=20181231&amp;title=false&amp;url2=\/united-states\/consumer-price-index-cpi&amp;h=300&amp;w=600\" width=\"600\" height=\"300\" frameborder=\"0\" scrolling=\"no\"><\/iframe><br \/>\n<span style=\"font-size: 14pt;\">source: <a href=\"https:\/\/tradingeconomics.com\/hong-kong\/consumer-price-index-cpi\">tradingeconomics.com<\/a><\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u9280\u8272\u50b5\u5238\u7684\u5408\u8cc7\u683c\u6295\u8cc7\u8005\u70ba\u6301\u6709\u9999\u6e2f\u8eab\u4efd\u8b49\u768465\u6b72\u6216\u4ee5\u4e0a\u4eba\u58eb\uff08<a href=\"https:\/\/www.hkgb.gov.hk\/tc\/others\/documents\/SilverBond_IC_dated_1_June_2017_CHI.pdf\">\u898b\u6b64<\/a>\uff09\uff0c\u6240\u4ee5\u5176\u5b9a\u4f4d\u70ba\u9000\u4f11\u7522\u54c1\uff0c\u4ea6\u7531\u65bc\u6b64\u5b9a\u4f4d\u8207\u653f\u5e9c\u5e74\u91d1\u6709\u91cd\u758a\uff0c\u4ee5\u5f80\u9280\u8272\u50b5\u5238\u65bc\u6bcf\u5e74\u5e74\u4e2d\u63a8\u51fa\u65b0\u4e00\u671f\uff0c\u4eca\u5e742018\u5e74\u63a8\u9072\u81f3\u5e74\u5c3e\u63a8\u51fa\uff0c\u514d\u5f97\u8207\u653f\u5e9c\u5e74\u91d1\u6253\u5c0d\u53f0\uff08\u898b\u6b64<a href=\"https:\/\/hk.finance.appledaily.com\/finance\/realtime\/article\/20180625\/58358950\" class=\"broken_link\">1<\/a> <a href=\"https:\/\/hk.finance.appledaily.com\/finance\/daily\/article\/20181105\/20538785\" class=\"broken_link\">2<\/a>\uff09\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u512a\u9ede\u4e4b\u5f8c\u8ac7\u7f3a\u9ede\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u9280\u8272\u50b5\u5238\u4e00\u624b\u4e00\u842c\u5143\uff0c\u6309\u4ee5\u5f80\u6578\u5b57\uff0c\u4e00\u4eba\u6700\u591a\u53ea\u7372\u520610\u624b\uff08<a href=\"http:\/\/hd.stheadline.com\/news\/daily\/fin\/577487\/\">\u898b\u6b64<\/a>\uff09\uff0c\u537310\u842c\u5143\uff0c\u53c8\u4e0d\u80fd\u65bc\u4e8c\u624b\u5e02\u5834\u8cb7\u5165\uff0c\u804a\u52dd\u65bc\u7121\uff0c\u53ea\u80fd\u4f54\u9000\u4f11\u8cc7\u7522\u4e00\u5c11\u90e8\u4efd\u3002\u53c8\u7531\u65bc\u4e09\u5e74\u4e00\u671f\uff0c\u65bc\u662f\u6bcf\u4eba\u540c\u4e00\u6642\u9593\u6700\u591a\u5927\u7d04\u6301\u6709\u5408\u8a0830\u842c\u5143\u76843\u671f\u9280\u8272\u50b5\u5238\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u6309<a href=\"https:\/\/www.mpfdiy.com\/2018\/10\/%e9%80%80%e4%bc%91%e7%90%86%e8%b2%a14-%e9%80%86%e6%8c%89%e6%8f%ad%e7%9a%84%e6%9c%80%e4%bd%b3%e7%94%a8%e6%b3%95\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u524d\u6587<\/a>\uff0c\u9000\u4f11\u5f8c\u7684<span style=\"color: #04b2f2;\">\u65e5\u5e38\u5fc5\u8981\u958b\u652f<\/span>\u7531\u4f4e\u6ce2\u5e45\u8cc7\u7522\u53bb\u652f\u6301\uff0c\u9280\u8272\u50b5\u5238\u53ef\u7d0d\u5165\u6b64\u985e\u5225\u3002\u4f46\u7531\u65bc\u9280\u8272\u50b5\u5238\u91d1\u984d\u5c11\uff0c\u5f88\u96e3\u55ae\u7368\u904b\u7528\u53bb\u5b8c\u5168\u652f\u6301\u63094%\u6cd5\u5247\u4e0b\u7684\u751f\u6d3b\u8cbb\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u53cd\u800c\u521d\u671f<a href=\"https:\/\/www.mpfdiy.com\/2018\/10\/%e9%80%80%e4%bc%91%e7%90%86%e8%b2%a13-%e6%94%bf%e5%ba%9c%e5%b9%b4%e9%87%91vs%e9%8a%80%e8%a1%8c%e4%bf%9d%e9%9a%aa%e5%85%ac%e5%8f%b8%e5%b9%b4%e9%87%91\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u653f\u5e9c\u5e74\u91d1<\/a>\u9ad8\u65bc4%\u6cd5\u5247\u7684\u63d0\u53d6\u7387\uff0c\u53ef\u4ee5\u5c07\u7528\u5269\u7684\u5e74\u91d1\u5132\u8d77\uff0c\u5148\u505a\u77ed\u5b9a\u671f\uff0c\u4e4b\u5f8c\u65bc\u6bcf\u5e74\u6295\u5165\u8cb7\u9280\u8272\u50b5\u5238\uff08\u5982\u679c\u9280\u8272\u50b5\u5238\u56de\u5831\u9ad8\u65bc\u9280\u884c\u5b9a\u671f\u7684\u8a71\uff09\uff1b\u5982\u679c\u6c92\u6709\u5e74\u91d1<\/span><span style=\"font-size: 18.6667px;\">\u7684<\/span><span style=\"font-size: 14pt;\">\uff0c\u53ef\u5c07\u8f03\u9ad8\u98a8\u96aa\u8cc7\u7522\u6bcf\u5e74\u64a510\u842c\u5143\u53bb\u8cfc\u8cb7\u9280\u8272\u50b5\u5238\uff0c\u4e00\u908a\u96a8\u5e74\u9f61\u9032\u884c\u5c11\u5c11de-risk\uff0c\u4e00\u908a\u5efa\u69cb\u5c11\u5c11\u6297\u901a\u8139\u7684bond ladder\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\"><span style=\"color: #04b2f2;\">\u9999\u6e2f\u7f3a\u4e4f\u901a\u8139\u639b\u52fe\u6295\u8cc7\u7522\u54c1<\/span>\uff0c<span style=\"color: #04b2f2;\">\u5f37\u7a4d\u91d1\u4ea6\u6c92\u6709\u6b64\u985e\u57fa\u91d1<\/span>\uff0c\u7531\u65bc\u9999\u6e2f\u7684\u901a\u8139\u7387\u57fa\u672c\u4e0a\u8207\u7f8e\u570b\u540c\u6b65\uff08\u898b\u4e0a\u5716\uff09\uff0c\u6295\u8cc7\u8005\u6216\u9000\u4f11\u4eba\u58eb\u4ea6\u53ef\u8003\u616e\u7f8e\u570b\u653f\u5e9c\u7684\u901a\u8139\u639b\u52fe\u50b5\u5238\uff08<a href=\"https:\/\/www.investopedia.com\/terms\/t\/tips.asp\">TIPS<\/a>\uff09\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u4f46\u7f8e\u570bTIPS\u8207\u9999\u6e2fiBond\u53ca\u9280\u8272\u50b5\u5238\u4e0d\u540c\uff0cTIPS\u662f\u672c\u91d1\u50f9\u503c\uff08principle value\uff09\u8207\u901a\u8139\u7387\u639b\u52fe\uff0c\u5373\u662f\u6703\u6309\u901a\u8139\u7387\u8abf\u6574\u672c\u91d1\u50f9\u503c\uff08\u9999\u6e2f\u7684\u662f\u4e0d\u8b8a\uff09\uff0c\u50b5\u5238\u5230\u671f\u6642\uff0c\u7f8e\u570b\u653f\u5e9c\u6703\u6309\u6700\u5f8c\u7684\u672c\u91d1\u50f9\u503c\u511f\u4ed8\u672c\u91d1\uff08\u901a\u7e2e\u6703\u6e1b\u672c\u91d1\u50f9\u503c\uff0c\u4f46TIPS\u5230\u671f\u511f\u4ed8\u4e0d\u4f4e\u65bc\u767c\u884c\u672c\u91d1\uff09\u3002\u671f\u9593\u50b5\u5238\u6d3e\u606f\u7387\uff08interest rate\uff09\u662f\u4e0d\u8b8a\uff08\u9999\u6e2f\u7684\u6703\u6309\u901a\u8139\u7387\u8b8a\u5316\uff09\uff0c\u4e0d\u904e\u7531\u65bcTIPS\u672c\u91d1\u50f9\u503c\u6703\u56e0\u901a\u8139\u7387\u800c\u6539\u8b8a\uff0c\u5be6\u969b\u6d3e\u606f\u91d1\u984d\uff08\u672c\u91d1\u50f9\u503c x \u6d3e\u606f\u7387\uff09\u6703\u56e0\u672c\u91d1\u50f9\u503c\u7684\u6309\u901a\u8139\u52a0\u6e1b\u800c\u6709\u8b8a\u5316\uff0c\u52a0\u4e0a\u6709\u7b2c\u4e8c\u5e02\u5834\uff0cTIPS\u7684\u5e02\u5834\u50f9\u503c\u8f03\u53d7\u8ca8\u5e63\u5229\u7387\u53ca\u5e02\u5834\u6c23\u6c1b\u6240\u5f71\u97ff\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u50cf<a href=\"https:\/\/www.ishares.com\/us\/products\/239467\/ishares-tips-bond-etf\" target=\"_blank\" rel=\"noopener noreferrer\">TIP<\/a>\u9019\u96bbTIPS \u7684ETF\uff0c2004\u5e74\u81f32018\u5e74\u7684\u5e74\u5747\u56de\u5831\u5927\u7d04\u70ba3.6%\uff0c\u6309\u6708\u6ce2\u5e45\u5927\u7d04\u70ba1.7%\uff08\u6309\u5e74\u6ce2\u5e45\u5927\u7d04\u70ba5.8%\uff09\uff0c\u540c\u671f\u7f8e\u570b\u901a\u8139\u7387\u5927\u7d04\u70ba2.1%\uff0c\u6309\u6708\u6ce2\u5e45\u5927\u7d04\u70ba0.32%\uff08\u6309\u5e74\u6ce2\u5e45\u5927\u7d04\u70ba1.1%\uff09\uff0c\u53ef\u898bTIPS\u7684\u6ce2\u5e45\u8f03\u901a\u8139\u7387\u7684\u6ce2\u5e45\u70ba\u9ad8\uff0cTIP ETF\u6309\u6708\u6ce2\u5e451.7%\u7684<a href=\"https:\/\/www.mpfdiy.com\/2017\/12\/%e6%b3%a2%e5%b9%85%e8%88%87%e8%b7%8c%e5%b9%85%e7%9a%84%e9%97%9c%e4%bf%82\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u6700\u5927\u55ae\u5e74\u8dcc\u5e45<\/a>\u53ef\u4ee5\u662f8%\u81f317%\uff0c\u898b\u4e0b\u5716\u76842013\u5e74\u4e0b\u8dcc8%\uff0c\u4e0d\u8981\u4ee5\u70ba\u6d3e\u606f\u7684\u653f\u5e9c\u50b5\u5238\u662f<a href=\"https:\/\/www.mpfdiy.com\/2016\/10\/%e6%88%91%e6%83%b3%e8%a6%81%e4%b8%80%e9%9a%bb%e7%a9%a9%e9%99%a3%e7%9a%84%e6%8a%95%e8%b3%87\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u53ea\u5347\u4e0d\u8dcc<\/a>\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">TIP ETF \u7684\u9010\u5e74\u56de\u5831\u7387\uff1a<\/span><\/p>\n<p><a href=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2018\/11\/TIPS-return.png?ssl=1\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-recalc-dims=\"1\" title=\" \"loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-3206 size-full\" src=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2018\/11\/TIPS-return.png?resize=720%2C452&#038;ssl=1\" alt=\" \" width=\"720\" height=\"452\" srcset=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2018\/11\/TIPS-return.png?w=729&amp;ssl=1 729w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2018\/11\/TIPS-return.png?resize=300%2C188&amp;ssl=1 300w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u9999\u6e2f\u9280\u8272\u50b5\u5238\u4e0d\u8a2d\u4e8c\u624b\u5e02\u5834\u7684\u8a2d\u5b9a\uff0c\u4e00\u662f\u5e0c\u671b\u9280\u8272\u50b5\u5238\u7684\u771f\u6b63\u53d7\u76ca\u4eba\u662f\u9000\u4f11\u4eba\u58eb\uff0c\u4e8c\u662f\u4e0d\u5e0c\u671b\u9280\u8272\u50b5\u5238\u7684\u50f9\u683c\u53d7\u8ca8\u5e63\u5229\u7387\u53ca\u5e02\u5834\u6c23\u6c1b\u6240\u5f71\u97ff\u3002\u5c0d\u65bc\u5c11\u5c11\u4e8b\u4fbf\u53cd\u61c9\u5927\u3001\u5927\u5927\u944a\u53cd\u800c\u7121\u611f\u89ba\u7684\u9999\u6e2f\u4eba\uff0c\u9280\u8272\u50b5\u5238\u50f9\u683c\u5982\u679c\u50cf\u4e0a\u8ff0TIP ETF\u4e00\u6a23\u55ae\u5e74\u8dcc8%\u7684\u8a71\uff0c\u80af\u5b9a\u4e00\u5927\u6279\u50b3\u5a92\u53ca\u9280\u9aee\u5927\u773e\u7acb\u5373\u60c5\u7dd2\u8d77\u54c4\uff0c\u5927\u9b27\u653f\u5e9c\u9a19\u8ca1\uff0c\u8001\u4eba\u5bb6\u90fd\u5443\uff0c\u4ee4\u9000\u4f11\u9280\u9aee\u8499\u53d7\u640d\u5931\uff0c\u904e\u5514\u5230\u4e16\u4e91\u4e91\uff08\u8cfa\u9322\u6642\u5514\u898b\u4f60\u8b1b\uff09\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u540c\u6a23\uff0c\u7531\u65bc\u6c92\u6709\u4e8c\u624b\u5e02\u5834\uff0c\u9280\u8272\u50b5\u5238\u7684\u98a8\u96aa\u6ea2\u5229\u672a\u80fd\u7d93\u5e02\u5834\u8abf\u7bc0\uff0c\u7576\u9280\u884c\u5b9a\u671f\u606f\u7387\u9ad8\u65bc\u901a\u8139\u7387\u7684\u8a71\uff0c\u9280\u8272\u50b5\u5238\u4fbf\u5931\u53bb\u5438\u5f15\u529b\uff0c\u90a3\u6642\u6216\u8005\u653f\u5e9c\u9700\u8981\u63d0\u9ad8\u90a3\u5305\u5e95\u6578\uff0c\u50cf2018\u5e74\u767c\u884c\u7684\u75312%\u63d0\u5347\u70ba3%\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.mpfdiy.com\/2018\/12\/%e9%80%80%e4%bc%91%e7%90%86%e8%b2%a18-%e5%bc%b7%e7%a9%8d%e9%87%91%e5%8f%8a%e5%b9%b4%e9%87%91%e6%89%a3%e7%a8%85\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-size: 14pt;\">\u4e0b\u6587\u7e8c<\/span><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: 14pt;\">\u5ef6\u4f38\u95b1\u8b80\uff1a<\/span><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\"><a href=\"https:\/\/www.treasurydirect.gov\/indiv\/products\/prod_tipsvsibonds.htm\" target=\"_blank\" rel=\"noopener noreferrer\">\u7f8e\u570bTIPS vs\u00a0\u7f8e\u570bI-Bond<\/a><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/personal.vanguard.com\/pdf\/flgpt.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\"><span style=\"font-size: 14pt;\">Vanguard \u5c0d\u6295\u8cc7 TIPS\u7684\u770b\u6cd5<\/span><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u9000\u4f11\u7406\u8ca1#7 \u2013 \u9280\u8272\u50b5\u5238 &nbsp; &nbsp; \u7e8c\u4e0a\u6587 &nbsp; \u5927\u5bb6\u5c0diBond\u61c9\u8a72\u90fd\u4e0d\u964c\u751f\uff0c\u81ea&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3207,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[69],"tags":[32,53,49,50],"class_list":["post-3204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-69","tag-32","tag-53","tag-49","tag-50"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2018\/11\/HK-US-CPI.png?fit=743%2C338&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p7Tc20-PG","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/3204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/comments?post=3204"}],"version-history":[{"count":5,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/3204\/revisions"}],"predecessor-version":[{"id":4425,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/3204\/revisions\/4425"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media\/3207"}],"wp:attachment":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media?parent=3204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/categories?post=3204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/tags?post=3204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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