{"id":67435,"date":"2024-06-27T16:47:25","date_gmt":"2024-06-27T08:47:25","guid":{"rendered":"https:\/\/roo.cash\/blog\/?p=67435"},"modified":"2026-03-23T13:47:09","modified_gmt":"2026-03-23T05:47:09","slug":"merrill-lynch-investment-clock-article","status":"publish","type":"post","link":"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/","title":{"rendered":"\u7f8e\u6797\u6642\u9418\u662f\u4ec0\u9ebc\uff1f\u9084\u503c\u5f97\u53c3\u8003\u55ce\uff1f\u6295\u8cc7\u65b0\u624b\u5fc5\u8b80\u7684\u8cc7\u7522\u914d\u7f6e\u7b56\u7565\uff01"},"content":{"rendered":"\n<p><a href=\"https:\/\/roo.cash\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#14a571\" class=\"has-inline-color\">\u888b\u9f20\u91d1\u878d<\/mark><\/a>\u5c0e\u8b80\uff5c\u5728\u6295\u8cc7\u5e02\u5834\u4e2d\uff0c\u4e0d\u540c\u7684\u7d93\u6fdf\u5e02\u5834\u6ce2\u52d5\u6703\u5f71\u97ff\u6295\u8cc7\u8005\u7684\u8cc7\u7522\u914d\u7f6e\u3002\u800c\u7f8e\u6797\u6642\u9418\uff08Merrill Lynch Investment Clock\uff09\u5c31\u662f\u6700\u8457\u540d\u7684\u7d93\u6fdf\u5468\u671f\u6295\u8cc7\u7406\u8ad6\u4e4b\u4e00\uff0c\u63d0\u4f9b\u6295\u8cc7\u8005\u7cfb\u7d71\u6027\u7684\u6295\u8cc7\u7b56\u7565\u53c3\u8003\u6307\u6a19\u3002\u672c\u6587\u5c07\u4ecb\u7d39\u7f8e\u6797\u6642\u9418\u7684\u57fa\u672c\u6982\u5ff5\u3001\u56db\u500b\u7d93\u6fdf\u5faa\u74b0\u968e\u6bb5\u53ca\u5176\u5c0d\u8cc7\u7522\u914d\u7f6e\u7684\u5f71\u97ff\uff0c\u5e6b\u52a9\u6295\u8cc7\u8005\u5728\u4e0d\u540c\u7684\u7d93\u6fdf\u5468\u671f\u4e2d\u505a\u51fa\u6700\u4f73\u7684\u6295\u8cc7\u6c7a\u7b56\u3002\u5982\u679c\u9084\u60f3\u8981\u4e86\u89e3\u66f4\u591a\u80a1\u5e02\u4f30\u503c\u53c3\u8003\u6307\u6a19\uff0c\u53ef\u4ee5\u53c3\u8003\u6211\u5011\u7684<a href=\"https:\/\/roo.cash\/blog\/cape-index-article\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5e2d\u52d2\u672c\u76ca\u6bd4\u662f\u4ec0\u9ebc<\/a>\u3001<a href=\"https:\/\/roo.cash\/blog\/volatilityindex-introduction-article\/\" target=\"_blank\" rel=\"noreferrer noopener\">VIX \u6050\u614c\u6307\u6578<\/a>\u3001<a href=\"https:\/\/roo.cash\/blog\/producer-price-index-article\/\" target=\"_blank\" rel=\"noreferrer noopener\">PPI \u751f\u7522\u8005\u7269\u50f9\u6307\u6578<\/a>\u3002<\/p>\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u672c\u6587\u6574\u7406\u76f8\u95dc\u512a\u60e0\u8207\u6ce8\u610f\u4e8b\u9805\uff0c\u51fa\u767c\u524d\u5efa\u8b70\u81f3\u5b98\u65b9\u7db2\u7ad9\u78ba\u8a8d\u6700\u65b0\u8cc7\u8a0a\u3002<\/p>\n<\/blockquote>\n\n\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">\u76ee\u9304<\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E4%BB%80%E9%BA%BC%E6%98%AF%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98%EF%BC%9F\" >\u4ec0\u9ebc\u662f\u7f8e\u6797\u6642\u9418\uff1f<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E8%B3%87%E7%94%A2%E8%BC%AA%E5%8B%95%E7%9A%84%E7%90%86%E8%AB%96%E5%9F%BA%E7%A4%8E\" >\u8cc7\u7522\u8f2a\u52d5\u7684\u7406\u8ad6\u57fa\u790e<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E7%B6%93%E6%BF%9F%E5%BE%AA%E7%92%B0%E5%9B%9B%E9%9A%8E%E6%AE%B5\" >\u7d93\u6fdf\u5faa\u74b0\u56db\u968e\u6bb5<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E9%80%9A%E8%B2%A8%E5%86%8D%E8%86%A8%E8%84%B9%EF%BC%88Reflation%EF%BC%89\" >\u901a\u8ca8\u518d\u81a8\u8139\uff08Reflation\uff09<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E5%BE%A9%E7%94%A6%EF%BC%88Recovery%EF%BC%89\" >\u5fa9\u7526\uff08Recovery\uff09<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E9%81%8E%E7%86%B1%EF%BC%88Overheat%EF%BC%89\" >\u904e\u71b1\uff08Overheat\uff09<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E6%BB%AF%E8%84%B9%EF%BC%88Stagflation%EF%BC%89\" >\u6eef\u8139\uff08Stagflation\uff09<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98%E6%AD%B7%E5%8F%B2%E6%95%B8%E6%93%9A%E5%9B%9E%E6%B8%AC%E7%B5%90%E6%9E%9C\" >\u7f8e\u6797\u6642\u9418\u6b77\u53f2\u6578\u64da\u56de\u6e2c\u7d50\u679c<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98%E6%89%B9%E8%A9%95%E8%88%87%E6%8C%91%E6%88%B0\" >\u7f8e\u6797\u6642\u9418\u6279\u8a55\u8207\u6311\u6230<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E5%A4%96%E9%83%A8%E7%B6%93%E6%BF%9F%E8%A1%9D%E6%93%8A%E5%B0%8D%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98%E7%9A%84%E5%BD%B1%E9%9F%BF\" >\u5916\u90e8\u7d93\u6fdf\u885d\u64ca\u5c0d\u7f8e\u6797\u6642\u9418\u7684\u5f71\u97ff<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E6%96%B0%E5%86%A0%E7%96%AB%E6%83%85%E5%B0%8D%E7%B6%93%E6%BF%9F%E5%BE%AA%E7%92%B0%E7%9A%84%E5%BD%B1%E9%9F%BF\" >\u65b0\u51a0\u75ab\u60c5\u5c0d\u7d93\u6fdf\u5faa\u74b0\u7684\u5f71\u97ff<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E5%B0%88%E5%AE%B6%E5%B0%8D%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98%E7%9A%84%E4%B8%8D%E5%90%8C%E8%A6%8B%E8%A7%A3\" >\u5c08\u5bb6\u5c0d\u7f8e\u6797\u6642\u9418\u7684\u4e0d\u540c\u898b\u89e3<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98%E7%B8%BD%E7%B5%90\" >\u7f8e\u6797\u6642\u9418\u7e3d\u7d50<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/roo.cash\/blog\/merrill-lynch-investment-clock-article\/#%E5%B8%B8%E8%A6%8B%E5%95%8F%E9%A1%8C\" >\u5e38\u898b\u554f\u984c<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"h-\u4ec0\u9ebc\u662f\u7f8e\u6797\u6642\u9418\"><span class=\"ez-toc-section\" id=\"%E4%BB%80%E9%BA%BC%E6%98%AF%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98%EF%BC%9F\"><\/span>\u4ec0\u9ebc\u662f\u7f8e\u6797\u6642\u9418\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u7f8e\u6797\u6642\u9418\u662f\u7f8e\u6797\u8b49\u5238\u65bc 2004 \u5e74\u63d0\u51fa\u7684\u6295\u8cc7\u7406\u8ad6\uff0c\u8a72\u7406\u8ad6\u4e3b\u8981\u53c3\u8003\u5169\u500b\u6307\u6a19\uff0c\u5206\u5225\u70ba<a href=\"https:\/\/roo.cash\/blog\/america-gdp-article\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u7d93\u6fdf\u6210\u9577\u7387\uff08GDP\uff09<\/a>\u548c<a href=\"https:\/\/roo.cash\/blog\/usa-consumer-price-index\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u901a\u8ca8\u81a8\u8139\u7387\uff08CPI\uff09<\/a>\u7684\u8b8a\u5316\uff0c\u6c7a\u5b9a\u7d93\u6fdf\u5468\u671f\u7684\u4e0d\u540c\u968e\u6bb5\uff0c\u6307\u5c0e\u6295\u8cc7\u8005\u5728\u4e0d\u540c\u7684\u7d93\u6fdf\u968e\u6bb5\u9032\u884c\u76f8\u61c9\u7684\u8cc7\u7522\u914d\u7f6e\u3002\u7f8e\u6797\u6642\u9418\u5c07\u7d93\u6fdf\u5468\u671f\u5283\u5206\u70ba\u56db\u500b\u4e3b\u8981\u968e\u6bb5\uff1a\u901a\u8ca8\u518d\u81a8\u8139\uff08Reflation\uff09\u3001\u5fa9\u7526\uff08Recovery\uff09\u3001\u904e\u71b1\uff08Overheat\uff09\u548c\u6eef\u8139\uff08Stagflation\uff09\u3002\u6bcf\u500b\u968e\u6bb5\u90fd\u6709\u5176\u7279\u5b9a\u7684\u7d93\u6fdf\u7279\u5fb5\u548c\u6700\u4f73\u6295\u8cc7\u8cc7\u7522\u914d\u7f6e\u7d44\u5408\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-\u8cc7\u7522\u8f2a\u52d5\u7684\u7406\u8ad6\u57fa\u790e\"><span class=\"ez-toc-section\" id=\"%E8%B3%87%E7%94%A2%E8%BC%AA%E5%8B%95%E7%9A%84%E7%90%86%E8%AB%96%E5%9F%BA%E7%A4%8E\"><\/span>\u8cc7\u7522\u8f2a\u52d5\u7684\u7406\u8ad6\u57fa\u790e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u7f8e\u6797\u6642\u9418\u7684\u7406\u8ad6\u57fa\u790e\u5728\u65bc\u4e0d\u540c\u7d93\u6fdf\u968e\u6bb5\u5c0d\u4e0d\u540c\u8cc7\u7522\u985e\u5225\u7684\u5f71\u97ff\u3002\u901a\u904e\u89c0\u5bdf\u7d93\u6fdf\u6210\u9577\u7387\u548c\u901a\u81a8\u7387\u7684\u8b8a\u5316\uff0c\u6295\u8cc7\u8005\u53ef\u4ee5\u9810\u6e2c\u7d93\u6fdf\u5468\u671f\u7684\u8f49\u6298\u9ede\uff0c\u9032\u884c\u76f8\u61c9\u7684\u8cc7\u7522\u914d\u7f6e\u3002\u9019\u7a2e\u8cc7\u7522\u8f2a\u52d5\u7b56\u7565\u6709\u52a9\u65bc\u63d0\u9ad8\u6295\u8cc7\u7d44\u5408\u7684\u6536\u76ca\uff0c\u540c\u6642\u964d\u4f4e\u98a8\u96aa\u3002<\/p>\n\n\n\n<table id=\"tablepress-801\" class=\"tablepress tablepress-id-801\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><span style=\"font-size:24px; color:#FFF\">\u26a1\ufe0f\u65b0\u624b\u958b\u6236\u8d85\u63a8\u85a6\u26a1\ufe0f\u5bcc\u90a6\u8b49\u5238<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><a href=\"https:\/\/roo.cash\/goto\/2GxXJy\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/blog-media-cdn.roo.cash\/blog\/wp-content\/uploads\/2026\/03\/12113341\/AD_SC_2603_03_%E5%AF%8C%E9%82%A6%E8%AD%89%E5%88%B8_1160x800.png\" width=\"580\" height=\"400\" class=\"aligncenter size-full wp-image-12216\" \/><\/a><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><span style=\"font-size:16px\">\ud83c\udf81 \u5bcc\u90a6\u8b49\u5238\u65b0\u6236\u7368\u4eab\u53f0\/\u7f8e\u80a1\u624b\u7e8c\u8cbb\u9a5a\u559c\u50f9\uff01<\/span><br \/>\n<span style=\"font-size:16px\">\ud83c\udf81 \u7f8e\u80a1\u5b9a\u671f\u5b9a\u984d\u8cb7\u9032\u8cbb\u7387\u5927\u964d\u50f9\uff01<\/span><br \/>\n<span style=\"font-size:16px\">\ud83c\udf81 \u5bcc\u90a6\u8b49\u5238\u6236\u7d04\u5b9a\u5317\u5bcc\u9280\u6578\u5b58\u5e33\u6236\u4ea4\u5272\uff0c\u4eab\u53f0\u5e63\u6d3b\u5132\u6700\u9ad8 2%\uff0b\u7f8e\u5143\u512a\u5229 1.8%\uff0b\u65e5\u5143\u512a\u5229 2%\uff01<\/span><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><a href=\"https:\/\/roo.cash\/goto\/2GxXJy\" class=\"roo-button\">\u9ede\u6211\u958b\u6236<\/a><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><span style=\"font-size:14px; color:#808080\">\u8b39\u614e\u7406\u8ca1  \u4fe1\u7528\u81f3\u4e0a<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-\u7d93\u6fdf\u5faa\u74b0\u56db\u968e\u6bb5\"><span class=\"ez-toc-section\" id=\"%E7%B6%93%E6%BF%9F%E5%BE%AA%E7%92%B0%E5%9B%9B%E9%9A%8E%E6%AE%B5\"><\/span>\u7d93\u6fdf\u5faa\u74b0\u56db\u968e\u6bb5<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/blog-media-cdn.roo.cash\/blog\/wp-content\/uploads\/2024\/06\/26011617\/%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98-640x400.png\" alt=\"\u7f8e\u6797\u6642\u9418\uff1a\u7d93\u6fdf\u5faa\u74b0\u56db\u968e\u6bb5\" class=\"wp-image-67437\" style=\"width:580px\"\/><\/figure><\/div>\n\n\n<h3 class=\"wp-block-heading\" id=\"h-\u901a\u8ca8\u518d\u81a8\u8139-reflation\"><span class=\"ez-toc-section\" id=\"%E9%80%9A%E8%B2%A8%E5%86%8D%E8%86%A8%E8%84%B9%EF%BC%88Reflation%EF%BC%89\"><\/span>\u901a\u8ca8\u518d\u81a8\u8139\uff08Reflation\uff09<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u300c<strong>\u901a\u8ca8\u518d\u81a8\u8139\u968e\u6bb5<\/strong>\u300d\u901a\u5e38\u767c\u751f\u5728\u7d93\u6fdf\u8870\u9000\u6216\u4e0d\u78ba\u5b9a\u6642\u671f\uff0c\u653f\u5e9c\u901a\u904e\u64f4\u5927\u7522\u51fa\u3001\u523a\u6fc0\u6d88\u8cbb\u4e26\u6291\u5236\u901a\u8ca8\u7dca\u7e2e\u7684\u8ca1\u653f\u6216\u8ca8\u5e63\u653f\u7b56\u4f86\u63a8\u52d5\u7d93\u6fdf\u589e\u9577\u3002\u6b64\u968e\u6bb5\u7d93\u6fdf\u6210\u9577\u505c\u6eef\uff0c\u901a\u81a8\u7387\u4f4e\uff0c\u4f01\u696d\u7372\u5229\u4e0d\u4f73\uff0c\u592e\u884c\u964d\u4f4e\u77ed\u671f\u5229\u7387\u4ee5\u523a\u6fc0\u7d93\u6fdf\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u6700\u4f73\u8cc7\u7522\u914d\u7f6e\uff1a<strong>\u4e3b\u8981\u914d\u7f6e\u50b5\u5238<\/strong>\uff0c\u56e0\u70ba\u6b64\u6642\u5229\u7387\u4e0b\u964d\uff0c\u50b5\u5238\u50f9\u683c\u4e0a\u5347\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-\u5fa9\u7526-recovery\"><span class=\"ez-toc-section\" id=\"%E5%BE%A9%E7%94%A6%EF%BC%88Recovery%EF%BC%89\"><\/span>\u5fa9\u7526\uff08Recovery\uff09<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5728\u300c<strong>\u5fa9\u7526\u968e\u6bb5<\/strong>\u300d\uff0c\u5bec\u9b06\u7684\u8ca1\u653f\u653f\u7b56\u958b\u59cb\u898b\u6548\uff0cGDP \u5feb\u901f\u6210\u9577\uff0c\u4f46\u904e\u5269\u7684\u751f\u7522\u529b\u5c1a\u672a\u5b8c\u5168\u5229\u7528\uff0c\u9020\u6210\u901a\u81a8\u7387\u4ecd\u7136\u8655\u65bc\u4f4e\u4f4d\u3002\u4f01\u696d\u7372\u5229\u958b\u59cb\u5927\u5e45\u6210\u9577\uff0c\u4f46\u592e\u884c\u4f9d\u4fdd\u6301\u8ca8\u5e63\u5bec\u9b06\u653f\u7b56\uff0c\u9020\u6210\u50b5\u5238\u4e0d\u518d\u9069\u5408\u6295\u8cc7\uff0c\u6b96\u5229\u7387\u4fdd\u6301\u5728\u4f4e\u4f4d\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u6700\u4f73\u8cc7\u7522\u914d\u7f6e\uff1a<strong>\u4e3b\u8981\u914d\u7f6e\u80a1\u7968<\/strong>\uff0c\u56e0\u70ba\u4f01\u696d\u7372\u5229\u4e0a\u5347\u63a8\u52d5\u80a1\u50f9\u4e0a\u6f32\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-\u904e\u71b1-overheat\"><span class=\"ez-toc-section\" id=\"%E9%81%8E%E7%86%B1%EF%BC%88Overheat%EF%BC%89\"><\/span>\u904e\u71b1\uff08Overheat\uff09<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u300c<strong>\u904e\u71b1\u968e\u6bb5<\/strong>\u300d\u7684\u7279\u5fb5\u662f\u7d93\u6fdf\u589e\u9577\u9054\u5230\u9ad8\u5cf0\uff0c\u4f01\u696d\u7522\u80fd\u63a5\u8fd1\u98fd\u548c\uff0c\u901a\u81a8\u9010\u6f38\u4e0a\u5347\uff0c\u592e\u884c\u958b\u59cb\u5347\u606f\u3002\u6b64\u6642\uff0c\u50b5\u5238\u8868\u73fe\u4e0d\u4f73\uff0c\u80a1\u7968\u7684\u8868\u73fe\u53d6\u6c7a\u65bc\u4f01\u696d\u7372\u5229\u7684\u589e\u9577\u548c\u4f30\u503c\u8a55\u7d1a\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u6700\u4f73\u8cc7\u7522\u914d\u7f6e\uff1a<strong>\u4e3b\u8981\u914d\u7f6e\u5927\u5b97\u5546\u54c1<\/strong>\uff0c\u56e0\u70ba\u901a\u81a8\u4e0a\u5347\u63a8\u52d5\u5546\u54c1\u50f9\u683c\u8d70\u9ad8\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-\u6eef\u8139-stagflation\"><span class=\"ez-toc-section\" id=\"%E6%BB%AF%E8%84%B9%EF%BC%88Stagflation%EF%BC%89\"><\/span>\u6eef\u8139\uff08Stagflation\uff09<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u300c<strong>\u6eef\u8139\u968e\u6bb5<\/strong>\u300d\u7684\u7279\u5fb5\u662f\u7d93\u6fdf\u6210\u9577\u505c\u6eef\u751a\u81f3\u4e0b\u964d\uff0c\u4f46\u901a\u81a8\u7387\u537b\u6301\u7e8c\u4e0a\u5347\u3002\u6b64\u6642\uff0c\u4f01\u696d\u7522\u80fd\u4e0b\u964d\uff0c\u70ba\u4e86\u7dad\u6301\u7372\u5229\u800c\u63d0\u9ad8\u7522\u54c1\u50f9\u683c\uff0c\u5c0e\u81f4\u5de5\u8cc7\u4e0a\u6f32\uff0c\u5931\u696d\u7387\u63d0\u9ad8\u3002\u592e\u884c\u7121\u6cd5\u9032\u4e00\u6b65\u63a1\u53d6\u5bec\u9b06\u653f\u7b56\uff0c\u50b5\u5238\u548c\u80a1\u7968\u5e02\u5834\u8868\u73fe\u4e0d\u4f73\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u6700\u4f73\u8cc7\u7522\u914d\u7f6e\uff1a<strong>\u4e3b\u8981\u6301\u6709\u73fe\u91d1<\/strong>\uff0c\u56e0\u70ba\u5b83\u53ef\u4ee5\u4fdd\u6301\u8cc7\u672c\u5b89\u5168\uff0c\u907f\u514d\u8cc7\u7522\u50f9\u683c\u6ce2\u52d5\u7684\u98a8\u96aa\u3002<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<style type=\"text\/css\">\n.tg  {border-collapse:collapse;border-spacing:0;}\n.tg td{border-color:black;border-style:solid;border-width:1px;font-family:Arial, sans-serif;font-size:14px;\n  overflow:hidden;padding:10px 5px;word-break:normal;}\n.tg th{border-color:black;border-style:solid;border-width:1px;font-family:Arial, sans-serif;font-size:14px;\n  font-weight:normal;overflow:hidden;padding:10px 5px;word-break:normal;}\n.tg .tg-v6nm{background-color:#112858;border-color:#c0c0c0;color:#404040;font-size:20px;text-align:center;vertical-align:top}\n.tg .tg-u4qj{background-color:#efefef;border-color:#c0c0c0;text-align:left;vertical-align:top}\n.tg .tg-855q{background-color:#ffffff;border-color:#c0c0c0;text-align:left;vertical-align:top}\n<\/style>\n<figure class=\"wp-block-table need-scroll\">\n<table class=\"tg\" style=\"width: 100%\">\n<colgroup>\n<col style=\"width: 25%\">\n<col style=\"width: 25%\">\n<col style=\"width: 50%\">\n<\/colgroup>\n\n<thead>\n  <tr>\n    <th class=\"tg-v6nm\" colspan=\"3\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#FFF;background-color:transparent\">\u7f8e\u6797\u6642\u9418\u7d93\u6fdf\u5faa\u74b0\u8cc7\u7522\u914d\u7f6e\u5efa\u8b70<\/span><\/th>\n  <\/tr><\/thead>\n<tbody>\n  <tr>\n    <td class=\"tg-u4qj\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u7d93\u6fdf\u5faa\u74b0\u968e\u6bb5<\/span><\/td>\n    <td class=\"tg-u4qj\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u6700\u4f73\u8cc7\u7522\u914d\u7f6e<\/span><\/td>\n    <td class=\"tg-u4qj\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u539f\u56e0<\/span><\/td>\n  <\/tr>\n  <tr>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u901a\u8ca8\u518d\u81a8\u8139<\/span><\/td>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u50b5\u5238<\/span><\/td>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u6b64\u6642\u5229\u7387\u4e0b\u964d\uff0c\u50b5\u5238\u50f9\u683c\u4e0a\u5347<\/span><\/td>\n  <\/tr>\n  <tr>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u5fa9\u7526<\/span><\/td>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u80a1\u7968<\/span><\/td>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u4f01\u696d\u7372\u5229\u4e0a\u5347\u63a8\u52d5\u80a1\u50f9\u4e0a\u6f32<\/span><\/td>\n  <\/tr>\n  <tr>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u904e\u71b1<\/span><\/td>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u5927\u5b97\u5546\u54c1<\/span><\/td>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u901a\u81a8\u4e0a\u5347\u63a8\u52d5\u5546\u54c1\u50f9\u683c\u8d70\u9ad8<\/span><\/td>\n  <\/tr>\n  <tr>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u6eef\u8139<\/span><\/td>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u73fe\u91d1<\/span><\/td>\n    <td class=\"tg-855q\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u4fdd\u6301\u8cc7\u672c\u5b89\u5168\uff0c\u907f\u514d\u8cc7\u7522\u50f9\u683c\u6ce2\u52d5\u7684\u98a8\u96aa\u3002<\/span><\/td>\n  <\/tr>\n<\/tbody><\/table><\/figure>\n\n\n\n<table id=\"tablepress-803\" class=\"tablepress tablepress-id-803 tbody-has-connected-cells\">\n<thead>\n<tr class=\"row-1\">\n\t<th colspan=\"2\" class=\"column-1\"><span style=\"font-size:24px; color:#FFF\">\u888b\u9f20\u91d1\u878d \u00d7 \u7cbe\u9078\u8b49\u5238\u5546 \u958b\u6236\u4eab\u512a\u60e0 \u2728<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><img decoding=\"async\" src=\"https:\/\/blog-media-cdn.roo.cash\/blog\/wp-content\/uploads\/2023\/08\/26003600\/logo_FBS.png\" height=\"120\"  width=\"225\" alt=\"\u5bcc\u90a6\u8b49\u5238\"><br \/>\n<a href=\"https:\/\/roo.cash\/goto\/securities_blog-tbprs-fubon-securities\" class=\"roo-button\">\u9ede\u6211\u958b\u6236<\/a><\/td><td class=\"column-2\"><p align=\"left\"><br \/>\n<span style=\"font-size:16px\"><strong>  \ud83d\udcb0 \u53f0\u80a1\u624b\u7e8c\u8cbb\u9707\u64bc\u50f9 <font color=\"#CE0000\">\u65b0\u958b\u6236\u7368\u4eab\u53f0\u80a1\u96fb\u5b50\u4ea4\u6613\u91cf100\u842c\u4ee5\u4e0b\u8d85\u4f4e\u624b\u7e8c\u8cbb<\/font>\uff01<\/strong><\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u3010\u5168\u65b0\u4e0b\u55aeAPP\u300cAI PRO\u300d\u64cd\u4f5c\u8d85\u76f4\u89ba\u3011\u5b8c\u6210\u6307\u5b9a\u4efb\u52d9\u6708\u6708\u62bdiPhone 17 Pro\uff01<\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u5b9a\u671f\u5b9a\u984d\u65e5\u65e5\u6263\u5929\u6578\u7121\u4e0a\u9650\uff0c\u53f0\/\u7f8e\u5b9a\u55ae\u7b46\u6700\u4f4e\u6295\u8cc7\u91d1\u984d1,000\u53f0\u5e63\/10\u7f8e\u5143\uff0c\u7f8e\u5b9a\u8cb7\u9032\u8cbb\u7387\u5927\u964d\u50f9\uff0c\u80a1\u606f\u518d\u6295\u5165\u529f\u80fd\u8d85\u65b9\u4fbf<\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u958b\u6236+\u5b8c\u6210\u6307\u5b9a\u4efb\u52d9\uff0c\u5c31\u9001\u5496\u6ce2\u9650\u91cf\u806f\u540d\u79ae\uff01(2025\/10\/1~2026\/2\/28)<\/span><\/p><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><img decoding=\"async\" src=\"https:\/\/blog-media-cdn.roo.cash\/blog\/wp-content\/uploads\/2023\/05\/26003032\/logo_SKIS.png\" height=\"120\"  width=\"225\" alt=\"\u65b0\u5149\u8b49\u5238\"><br \/>\n<a href=\"https:\/\/roo.cash\/goto\/securities_blog-tbprs-skb-securities\" class=\"roo-button\">\u9ede\u6211\u958b\u6236<\/a><\/td><td class=\"column-2\"><p align=\"left\"><br \/>\n<span style=\"font-size:16px\"><strong>  \ud83d\udcb0 \u53f0\u80a1\u624b\u7e8c\u8cbb\u9a5a\u559c\u50f9<font color=\"#CE0000\">\u6bd4\u6298\u6263\u9084\u512a\u60e0<\/font>\uff01<\/strong><\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u958b\u6236\u5373\u9001 NT$ 3,000 \u62b5\u7528\u91d1<\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u8cc7\u91d1\u7ba1\u7406\u5e33\u6236\u4eab50\u6b21\u8de8\u8f49\u512a\u60e0<\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u5b9a\u671f\u5b9a\u984d\u52a0\u78bc\u56de\u994b NT$ 500 \u62b5\u7528\u91d1\uff01<\/span><\/p><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/blog-media-cdn.roo.cash\/blog\/wp-content\/uploads\/2025\/09\/30225644\/IMG_7518.jpg\" height=\"120\"  width=\"225\" alt=\"\u6c38\u8c50\u91d1\u8b49\u5238\"><br \/>\n<a href=\"https:\/\/roo.cash\/goto\/securities_blog-tbprs-sinopac-securities\" class=\"roo-button\">\u9ede\u6211\u958b\u6236<\/a><\/td><td class=\"column-2\"><p align=\"left\"><br \/>\n<span style=\"font-size:16px\"><strong>  \ud83d\udcb0 \u8d85\u76f4\u89ba\u64cd\u4f5c\u4ecb\u9762<font color=\"#CE0000\"> \u4e0b\u55ae\u9996\u9078<\/font>\uff01<\/strong><\/span><br \/>\n<span style=\"font-size:14px\"> \ud83c\udf81 \u5b8c\u6210\u6307\u5b9a\u4efb\u52d9\u9001 \u661f\u5b87\u822a\u7a7a\u6a5f\u7968\u3001\u4efb\u5929\u5802switch\u3001\u65c5\u904a\u91d1$20,000\u3001\u8d85\u5546\u79ae\u5238$500\u3001City cafe \u7b49\u597d\u79ae\uff01<\/span><br \/>\n<span style=\"font-size:14px\"> \ud83c\udf81 \u3010\u4ea4\u5272\u5e33\u6236\u3011\u512a\u5229\u6d3b\u5b581.5%\u56de\u994b\uff0c\u6bcf\u670820\u6b21\u8de8\u63d0\u8de8\u8f49\u514d\u8cbb\uff01<\/span><br \/>\n<span style=\"font-size:14px\"> \ud83c\udf81 \u3010\u6263\u6b3e\u65e5\u81ea\u7531\u9078\u3011\u6bcf\u6708\u53ef\u90789\u5929\u6263\u6b3e\u65e5\uff0c\u9748\u6d3b\u8cc7\u91d1\u63a7\u7ba1\uff01<br \/>\n<\/span><\/p><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/blog-media-cdn.roo.cash\/blog\/wp-content\/uploads\/2025\/07\/06233825\/%E5%85%83%E5%A4%A7%E8%AD%89%E5%88%B8LOGO.jpg\" height=\"90\"  width=\"225\" alt=\"\u5143\u5927\u8b49\u5238\"><br \/>\n<a href=\"https:\/\/roo.cash\/goto\/1bm4tq\" class=\"roo-button\">\u9ede\u6211\u958b\u6236<\/a><\/td><td class=\"column-2\"><p align=\"left\"><br \/>\n<span style=\"font-size:16px\"><strong>  \ud83d\udcb0 \u9001\u624b\u7e8c\u8cbb\u62b5\u7528\u91d1\u6700\u9ad8<font color=\"#CE0000\"> NT$1,688<\/font>\uff01<\/strong><\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u3010\u65b0\u958b\u6236\u3011\u9818388\u5143\u624b\u7e8c\u8cbb\u62b5\u7528\u91d1\uff0c\u518d\u62bd\u661f\u5b87\u5546\u52d9\u8259\u6771\u4eac\u96d9\u4eba\u4f86\u56de\u6a5f\u7968\u3001\u6700\u65b0iPhone\u7b49\u591a\u9805\u842c\u5143\u8c6a\u79ae<\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u3010\u53f0\u80a1\u5b9a\u671f\u5b9a\u984d\u3011\u9054\u6210\u4efb\u52d9\u9001600\u5143\u624b\u7e8c\u8cbb\u62b5\u7528\uff01<\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u3010\u53f0\u80a1ETF\u4ea4\u6613\u3011\u6eff\u984d\u9001\u6700\u9ad8600\u5143\u624b\u7e8c\u8cbb\u62b5\u7528\u91d1 (\u4ea4\u6613=\u300c\u8cb7\u300d\u6216\u300c\u8ce3\u300d\uff0c\u542b\u6574\u5f35\u3001\u96f6\u80a1\u3001\u5b9a\u671f\u5b9a\u984d\uff09<br>\ud83c\udf81 \u3010\u7f8e\u80a1ETF\u4ea4\u6613\u3011\u6eff\u984d\u9001\u6700\u9ad8300\u5143\u624b\u7e8c\u8cbb\u62b5\u7528\u91d1<\/span><\/p><\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/blog-media-cdn.roo.cash\/blog\/wp-content\/uploads\/2025\/11\/26173742\/img-logo-Concord.webp\" height=\"120\"  width=\"225\" alt=\"\u5eb7\u548c\u8b49\u5238\"><br \/>\n<a href=\"https:\/\/roo.cash\/goto\/48BotR\" class=\"roo-button\">\u9ede\u6211\u958b\u6236<\/a><\/td><td class=\"column-2\"><p align=\"left\"><br \/>\n<span style=\"font-size:16px\"><strong>  \ud83d\udcb0 \u3010\u5361\u597d\u901a\u3011<font color=\"#CE0000\"> \u667a\u80fd\u5e33\u52d9\u6574\u5408\uff0c\u591a\u5e33\u6236\u4e00\u7ad9\u5f0f\u7ba1\u7406\ud83d\udc4d\ud83c\udffb<\/font><\/strong><\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u3010\u597d\u5eb7fun\u5fc3\u6295\u2764\ufe0f\u3011\u5e74\u8f15\u4eba\u5fc5\u5099\uff01\u65b0\u4e16\u4ee3\u7406\u8ca1\u5e73\u53f0\ud83d\udc4d\ud83c\udffb<\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u3010\u98c6\u8cfa\u4e0b\u55ae\u3011\u5373\u6642\u5feb\u55ae \u00d7 \u7cbe\u6e96\u76e3\u63a7\ud83d\udc4d\ud83c\udffb<\/span><br \/>\n<\/p><\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/blog-media-cdn.roo.cash\/blog\/wp-content\/uploads\/2025\/08\/11104742\/%E5%87%B1%E5%9F%BA%E6%9C%9F%E8%B2%A8_%E7%99%BD%E5%BA%95%E8%97%8D%E5%AD%97.jpg\" height=\"120\"  width=\"225\" alt=\"\u51f1\u57fa\u671f\u8ca8\"><br \/>\n<a href=\"https:\/\/roo.cash\/goto\/3Pu4qv \" class=\"roo-button\">\u9ede\u6211\u958b\u6236<\/a><\/td><td class=\"column-2\"><p align=\"left\"><br \/>\n<span style=\"font-size:16px\"><strong>  \ud83d\udcb0 \u9650\u6642\u958b\u6236\u62ff<font color=\"#CE0000\"> 500\u5143\u5373\u4eab\u5238<\/font>\uff01\u518d\u62bd\u661f\u7d1a\u597d\u79ae\uff01<\/strong><\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u3010\u6cd5\u4eba\u7d1a\u6975\u901f\u4ea4\u6613\u5e73\u53f0\u3011\u9078\u64c7\u5e02\u4f54\u7b2c\u4e00\u4ea4\u6613\u7cfb\u7d71\uff0c\u964d\u4f4e\u932f\u5931\u7372\u5229\u826f\u6a5f\u98a8\u96aa\uff01<\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u3010\u56db\u5927e\u667a\u6167\u529f\u80fd\u3011\u4e00\u79d2\u9032\u51fa\u3001\u96a8\u6642\u88dc\u55ae\uff0c\u4e0d\u76ef\u76e4\u4e5f\u80fd\u63d0\u5347\u4ea4\u6613\u6548\u7387\uff01<\/span><br \/>\n<span style=\"font-size:14px\">  \ud83c\udf81 \u3010\u5c08\u696d\u6df1\u5ea6\u7814\u7a76\u5831\u544a\u3011\u6bcf\u65e5\u7531\u5c08\u696d\u5206\u6790\u5e2b\u64b0\u5beb\u7814\u7a76\u5831\u544a\uff0c\u52a9\u60a8\u6d1e\u6089\u5e02\u5834\u8108\u52d5\uff01<\/span><\/p><\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td colspan=\"2\" class=\"column-1\"><span style=\"font-size:14px; color:#808080\">\u8b39\u614e\u7406\u8ca1  \u4fe1\u7528\u81f3\u4e0a<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-\u7f8e\u6797\u6642\u9418\u6b77\u53f2\u6578\u64da\u56de\u6e2c\u7d50\u679c\"><span class=\"ez-toc-section\" id=\"%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98%E6%AD%B7%E5%8F%B2%E6%95%B8%E6%93%9A%E5%9B%9E%E6%B8%AC%E7%B5%90%E6%9E%9C\"><\/span>\u7f8e\u6797\u6642\u9418\u6b77\u53f2\u6578\u64da\u56de\u6e2c\u7d50\u679c<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u7f8e\u6797\u8b49\u5238\u70ba\u4e86\u8b49\u5be6\u4ed6\u5011\u63a8\u51fa\u7406\u8ad6\u7684\u6b63\u78ba\u6027\u8490\u96c6\u4e86 1973 &#8211; 2004 \u5e74\u7684\u6b77\u53f2\u6578\u64da\u9032\u884c\u4e86\u56de\u6e2c\uff0c\u7d50\u679c\u986f\u793a\u7d93\u6fdf\u5468\u671f\u78ba\u5be6\u5b58\u5728\uff0c\u4e0d\u540c\u7d93\u6fdf\u968e\u6bb5\u5c0d\u4e0d\u540c\u8cc7\u7522\u985e\u5225\u7684\u5f71\u97ff\u5177\u6709\u4e00\u81f4\u6027\u3002\u4f8b\u5982\uff0c\u5728\u901a\u8ca8\u518d\u81a8\u8139\u968e\u6bb5\uff0c\u50b5\u5238\u7684\u6536\u76ca\u7387\u6700\u9ad8\uff0c\u800c\u5728\u904e\u71b1\u968e\u6bb5\uff0c\u5927\u5b97\u5546\u54c1\u7684\u6536\u76ca\u7387\u6700\u9ad8\u3002<\/p>\n\n\n\n<style type=\"text\/css\">\n.tg  {border-collapse:collapse;border-spacing:0;}\n.tg td{border-color:black;border-style:solid;border-width:1px;font-family:Arial, sans-serif;font-size:14px;\n  overflow:hidden;padding:10px 5px;word-break:normal;}\n.tg th{border-color:black;border-style:solid;border-width:1px;font-family:Arial, sans-serif;font-size:14px;\n  font-weight:normal;overflow:hidden;padding:10px 5px;word-break:normal;}\n.tg .tg-81ec{background-color:#ffffff;border-color:#c0c0c0;text-align:center;vertical-align:top}\n.tg .tg-v6nm{background-color:#112858;border-color:#c0c0c0;color:#404040;font-size:20px;text-align:center;vertical-align:top}\n.tg .tg-tjwp{background-color:#efefef;border-color:#c0c0c0;text-align:center;vertical-align:top}\n<\/style>\n<figure class=\"wp-block-table need-scroll\">\n<table class=\"tg\" style=\"width: 100%\">\n<colgroup>\n<col style=\"width: 20%\">\n<col style=\"width: 20%\">\n<col style=\"width: 20%\">\n<col style=\"width: 20%\">\n<col style=\"width: 20%\">\n<\/colgroup>\n\n<thead>\n  <tr>\n    <th class=\"tg-v6nm\" colspan=\"5\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#FFF;background-color:transparent\">\u7f8e\u6797\u6642\u9418\u5404\u8cc7\u7522\u985e\u5225\u6536\u76ca\u7387<\/span><\/th>\n  <\/tr><\/thead>\n<tbody>\n  <tr>\n    <td class=\"tg-tjwp\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u8cc7\u7522<\/span><\/td>\n    <td class=\"tg-tjwp\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u50b5\u5238<\/span><\/td>\n    <td class=\"tg-tjwp\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u80a1\u7968<\/span><\/td>\n    <td class=\"tg-tjwp\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u5927\u5b97\u5546\u54c1<\/span><\/td>\n    <td class=\"tg-tjwp\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u73fe\u91d1<\/span><\/td>\n  <\/tr>\n  <tr>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u901a\u8ca8\u518d\u81a8\u8139<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:bold;font-style:normal;text-decoration:none;color:#FE0000\">9.8<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">6.4<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">-11.9<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">3.3<\/span><\/td>\n  <\/tr>\n  <tr>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u5fa9\u7526<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">7<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:bold;font-style:normal;text-decoration:none;color:#FE0000\">19.9<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">-7.9<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">2.1<\/span><\/td>\n  <\/tr>\n  <tr>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u904e\u71b1<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">0.2<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">6<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:bold;font-style:normal;text-decoration:none;color:#FE0000\">19.7<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">1.2<\/span><\/td>\n  <\/tr>\n  <tr>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">\u6eef\u8139<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">-1.9<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">-11.7<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:400;font-style:normal;text-decoration:none;color:#000\">5.8<\/span><\/td>\n    <td class=\"tg-81ec\"><span style=\"font-weight:bold;font-style:normal;text-decoration:none;color:#FE0000\">-0.3<\/span><\/td>\n  <\/tr>\n<\/tbody><\/table><\/figure>\n\n\n\n<p>\u8cc7\u6599\u4f86\u6e90\uff1a\u7f8e\u6797\u8b49\u5238<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-\u7f8e\u6797\u6642\u9418\u6279\u8a55\u8207\u6311\u6230\"><span class=\"ez-toc-section\" id=\"%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98%E6%89%B9%E8%A9%95%E8%88%87%E6%8C%91%E6%88%B0\"><\/span>\u7f8e\u6797\u6642\u9418\u6279\u8a55\u8207\u6311\u6230<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-\u5916\u90e8\u7d93\u6fdf\u885d\u64ca\u5c0d\u7f8e\u6797\u6642\u9418\u7684\u5f71\u97ff\"><span class=\"ez-toc-section\" id=\"%E5%A4%96%E9%83%A8%E7%B6%93%E6%BF%9F%E8%A1%9D%E6%93%8A%E5%B0%8D%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98%E7%9A%84%E5%BD%B1%E9%9F%BF\"><\/span>\u5916\u90e8\u7d93\u6fdf\u885d\u64ca\u5c0d\u7f8e\u6797\u6642\u9418\u7684\u5f71\u97ff<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u7f8e\u6797\u6642\u9418\u5728\u7d93\u6fdf\u6b63\u5e38\u904b\u884c\u6642\u5177\u6709\u8f03\u9ad8\u7684\u9810\u6e2c\u6e96\u78ba\u6027\uff0c\u4f46\u5728\u7d93\u6fdf\u53d7\u5230\u5916\u90e8\u885d\u64ca\u6642\uff0c\u9810\u6e2c\u53ef\u80fd\u6703\u5931\u771f\u3002\u4f8b\u5982\uff0c2008 \u5e74\u7684\u91d1\u878d\u5371\u6a5f\u548c 2020 \u5e74\u7684\u65b0\u51a0\u75ab\u60c5\u90fd\u5c0d\u7d93\u6fdf\u5468\u671f\u7522\u751f\u4e86\u91cd\u5927\u5f71\u97ff\uff0c\u6253\u4e82\u4e86\u539f\u672c\u7684\u8cc7\u7522\u8f2a\u52d5\u6a21\u5f0f\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-\u65b0\u51a0\u75ab\u60c5\u5c0d\u7d93\u6fdf\u5faa\u74b0\u7684\u5f71\u97ff\"><span class=\"ez-toc-section\" id=\"%E6%96%B0%E5%86%A0%E7%96%AB%E6%83%85%E5%B0%8D%E7%B6%93%E6%BF%9F%E5%BE%AA%E7%92%B0%E7%9A%84%E5%BD%B1%E9%9F%BF\"><\/span>\u65b0\u51a0\u75ab\u60c5\u5c0d\u7d93\u6fdf\u5faa\u74b0\u7684\u5f71\u97ff<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u65b0\u51a0\u75ab\u60c5\u7206\u767c\u5f8c\uff0c\u5404\u570b\u653f\u5e9c\u63a1\u53d6\u4e86\u5927\u898f\u6a21\u7684\u8ca1\u653f\u548c\u8ca8\u5e63\u523a\u6fc0\u653f\u7b56\uff0c\u5c0e\u81f4\u80a1\u5e02\u548c\u50b5\u5e02\u540c\u6642\u4e0a\u6f32\uff0c\u6253\u7834\u4e86\u7f8e\u6797\u6642\u9418\u7684\u9810\u6e2c\u3002\u8a72\u6b21\u4e8b\u4ef6\u8aaa\u660e\u4e86\u7f8e\u6797\u6642\u9418\u7684\u9031\u671f\u5728\u9762\u5c0d\u7a81\u767c\u4e8b\u4ef6\u6642\uff0c\u53ef\u80fd\u7121\u6cd5\u63d0\u4f9b\u6e96\u78ba\u7684\u6295\u8cc7\u6307\u5f15\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-\u5c08\u5bb6\u5c0d\u7f8e\u6797\u6642\u9418\u7684\u4e0d\u540c\u898b\u89e3\"><span class=\"ez-toc-section\" id=\"%E5%B0%88%E5%AE%B6%E5%B0%8D%E7%BE%8E%E6%9E%97%E6%99%82%E9%90%98%E7%9A%84%E4%B8%8D%E5%90%8C%E8%A6%8B%E8%A7%A3\"><\/span>\u5c08\u5bb6\u5c0d\u7f8e\u6797\u6642\u9418\u7684\u4e0d\u540c\u898b\u89e3<span 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class=\"schema-faq-answer\">\u7f8e\u6797\u6642\u9418\u4e3b\u8981\u9069\u5408\u60f3\u9032\u884c\u8cc7\u7522\u914d\u7f6e\u7684\u4e2d\u9577\u671f\u6295\u8cc7\u8005\uff0c\u4f46\u521d\u5fc3\u8005\u61c9\u5148\u7406\u89e3\u5404\u8cc7\u7522\u985e\u5225\u7279\u6027\u8207\u98a8\u96aa\u627f\u53d7\u5ea6\uff0c\u4e26\u5efa\u8b70\u8aee\u8a62\u5c08\u696d\u7406\u8ca1\u9867\u554f\u6216\u67e5\u95b1\u5b98\u65b9\u6295\u8cc7\u6307\u5357\u5f8c\u518d\u61c9\u7528\u6b64\u7b56\u7565\u3002<\/p><\/div><div class=\"schema-faq-section\" id=\"faq-438e3f65\"><strong class=\"schema-faq-question\">\u4f7f\u7528\u7f8e\u6797\u6642\u9418\u9032\u884c\u8cc7\u7522\u914d\u7f6e\u9700\u8981\u7559\u610f\u54ea\u4e9b\u98a8\u96aa\uff1f<\/strong><p class=\"schema-faq-answer\">\u7f8e\u6797\u6642\u9418\u57fa\u65bc\u7d93\u6fdf\u9031\u671f\u5224\u65b7\uff0c\u4f46\u5be6\u52d9\u4e0a\u7d93\u6fdf\u8f49\u6298\u9ede\u96e3\u4ee5\u7cbe\u78ba\u9810\u6e2c\uff0c\u4e14\u904e\u983b\u7e41\u8abf\u6574\u914d\u7f6e\u53ef\u80fd\u7522\u751f\u4ea4\u6613\u6210\u672c\u8207\u7a05\u52d9\u8ca0\u64d4\uff0c\u5efa\u8b70\u5b9a\u671f\u6aa2\u8996\u800c\u975e\u983b\u7e41\u64cd\u4f5c\uff0c\u4e26\u8a73\u898b\u91d1\u878d\u6a5f\u69cb\u6216\u5b98\u65b9\u7db2\u7ad9\u63d0\u4f9b\u7684\u98a8\u96aa\u8aaa\u660e\u6587\u4ef6\u3002<\/p><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u888b\u9f20\u91d1\u878d\u5c0e\u8b80\uff5c\u5728\u6295\u8cc7\u5e02\u5834\u4e2d\uff0c\u4e0d\u540c\u7684\u7d93\u6fdf\u5e02\u5834\u6ce2\u52d5\u6703\u5f71\u97ff\u6295\u8cc7\u8005\u7684\u8cc7\u7522\u914d\u7f6e\u3002\u800c\u7f8e\u6797\u6642\u9418\uff08Merrill Lynch Investment Clock\uff09\u5c31\u662f\u6700\u8457\u540d\u7684\u7d93\u6fdf\u5468\u671f\u6295\u8cc7\u7406\u8ad6\u4e4b\u4e00\uff0c\u63d0\u4f9b\u6295\u8cc7\u8005\u7cfb\u7d71\u6027\u7684\u6295\u8cc7\u7b56\u7565\u53c3\u8003\u6307\u6a19\u3002\u672c\u6587\u5c07\u4ecb\u7d39\u7f8e\u6797\u6642\u9418\u7684\u57fa\u672c\u6982\u5ff5\u3001\u56db\u500b\u7d93\u6fdf\u5faa\u74b0\u968e\u6bb5\u53ca\u5176\u5c0d\u8cc7\u7522\u914d\u7f6e\u7684\u5f71\u97ff\uff0c\u5e6b\u52a9\u6295\u8cc7\u8005\u5728\u4e0d\u540c\u7684\u7d93\u6fdf\u5468\u671f\u4e2d\u505a\u51fa\u6700\u4f73\u7684\u6295\u8cc7\u6c7a\u7b56\u3002\u5982\u679c\u9084\u60f3\u8981\u4e86\u89e3\u66f4\u591a\u80a1\u5e02\u4f30\u503c\u53c3\u8003\u6307\u6a19\uff0c\u53ef\u4ee5\u53c3\u8003\u6211\u5011\u7684\u5e2d\u52d2\u672c\u76ca\u6bd4\u662f\u4ec0\u9ebc\u3001VIX \u6050\u614c\u6307\u6578\u3001PPI \u751f\u7522\u8005\u7269\u50f9\u6307\u6578\u3002<\/p>\n","protected":false},"author":7,"featured_media":67436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_focuskw":"\u7f8e\u6797\u6642\u9418","_yoast_wpseo_title":"","_yoast_wpseo_metadesc":"","footnotes":""},"categories":[1756,1786],"tags":[1834,1928,1970,2066],"class_list":["post-67435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-roo-news","category-investment","tag-1834","tag-1928","tag-1970","tag-2066"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u7f8e\u6797\u6642\u9418\u662f\u4ec0\u9ebc\uff1f\u9084\u503c\u5f97\u53c3\u8003\u55ce\uff1f\u6295\u8cc7\u65b0\u624b\u5fc5\u8b80\u7684\u8cc7\u7522\u914d\u7f6e\u7b56\u7565\uff01 - Roo.Cash<\/title>\n<meta name=\"description\" content=\"\u888b\u9f20\u91d1\u878d\u5c0e\u8b80\uff5c\u5728\u6295\u8cc7\u5e02\u5834\u4e2d\uff0c\u4e0d\u540c\u7684\u7d93\u6fdf\u5e02\u5834\u6ce2\u52d5\u6703\u5f71\u97ff\u6295\u8cc7\u8005\u7684\u8cc7\u7522\u914d\u7f6e\u3002\u800c\u7f8e\u6797\u6642\u9418\uff08Merrill Lynch Investment 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property=\"og:locale\" content=\"zh_TW\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u7f8e\u6797\u6642\u9418\u662f\u4ec0\u9ebc\uff1f\u9084\u503c\u5f97\u53c3\u8003\u55ce\uff1f\u6295\u8cc7\u65b0\u624b\u5fc5\u8b80\u7684\u8cc7\u7522\u914d\u7f6e\u7b56\u7565\uff01\" \/>\n<meta property=\"og:description\" content=\"\u888b\u9f20\u91d1\u878d\u5c0e\u8b80\uff5c\u5728\u6295\u8cc7\u5e02\u5834\u4e2d\uff0c\u4e0d\u540c\u7684\u7d93\u6fdf\u5e02\u5834\u6ce2\u52d5\u6703\u5f71\u97ff\u6295\u8cc7\u8005\u7684\u8cc7\u7522\u914d\u7f6e\u3002\u800c\u7f8e\u6797\u6642\u9418\uff08Merrill Lynch Investment 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