«X¯Q¦M¾÷¦A°_ ªo»ù¦^¤É
¥ì®Ô®Ö¨óij²{¬ð¯} ®ÆÓV¤É¶Õ

[2022.02.22] µoªí
¥«³õ¼~¼{¯Q§JÄõ¦M¾÷¥i¯à¾É­P«Xù´µ¯à·½¨ÑÀ³¦¬ºò¡A°ê»Úªo»ù¬Q±ß¤î¶^¦^¤É¡C¹Ï¬°¥[®³¤j¤@ªo¯¸¡C¡]·sµØªÀ¡^

«X¯Qºò±i§Î¶Õ«ùÄò¡A«X¤è®ø®§ºÙ¡A¯Q§JÄõ¹Ò¤ºªº¬¶¼uºR·´¤F«Xù´µÃ䨾­ï©Ò¡AÀ¿ºj¨«¤õªº­·ÀI¤É·Å¡C¥Õ®cªí¥Ü¡A¬ü°êÁ`²Î«ôµn¡u­ì«h¤W¡v¦P·N»P«Xù´µÁ`²Î´¶¨Ê·|­±¡A¦ý«X¤èªíºAºÙ¡AÂù¤è´N¯Q§JÄõ°ÝÃDÁ|¦æ·|­±©|µL¨ãÅé­p¹º¡C¥«³õ¼~¼{¯Q§JÄõ¦M¾÷¥i¯à¾É­P«Xù´µ¯à·½¨ÑÀ³¦¬ºò¡A°ê»Úªo»ù¬Q±ß¤î¶^¦^¤É¡A¤È©]«e¤É¬ù1%¡C¥¬Äõ¯S´Áªo¤É¬ï¨C±í94¬ü¤¸¡A¯Ã¬ù´Áªo¤É¦Ü¨C±í92¬ü¤¸¡C

¤£¹L¥ì®Ô»P¥D­n°ê®a¦³¥i¯à­«·s¹F¦¨®Ö¨óij¡A¥O¨C¤Ñ¥i¯à¦³¶W¹L100¸U±í¥ì®Ô­ìªo­«ªð¥«³õ¡A°ê»Úªo»ù¤É´T¨ü­­¡C¥ì®Ô¥~¥æ³¡µo¨¥¤H¬Qªí¥Ü¡A¦bºû¤]¯ÇÁ|¦æªºÃö©ó«ì´_¥ì®Ô2015¦~®Ö¨óijªº½Í§P¡A¤w¨ú±o¡u­«¤j¶i®i¡v¡C¬Q¤Ñ¬O¬ü°êÁ`²Î¤é¡A¬ü°êªÑ¶Å¥ð¥«¡C

«X¯Qºò±i§½¶Õ¡A¥Oªo¥«¦b¹L¥h¤@­Ó¤ë³B©óºò±iª¬ºA¡C¼Ú·ù«Â¯Ù¤@¥¹«Xù´µ¤J«I¯Q§JÄõ¡A±N³Q¤ÁÂ_»P°ê»Úª÷¿Ä¥«³õªºÁpô¡C­Õ­Yªo»ù¶i¤@¨B¦V¤W¡A±N±À°Ê³qµÈÄ~ÄòÃk¤É¡C¯Ã¬ù­ìªo»ù®æ¥Ø«e¤w¸û12¤ëªì¤É¥|¦¨¡C¤û¬z¸gÀÙ(Oxford Economics)±Àºâ¡A¨C±í¥Ûªoªº»ù®æ¨C¤W¤É10¬ü¤¸¡A¬ü°ê®ø¶Oª«»ù«ü¼Æ(CPI)±N«ö¦~¤É0.3­Ó¦Ê¤ÀÂI¡C

¬ü°ê¤W¤ëCPI«ö¦~¤É7.5%¡A³Ð40¦~°ª¦ì¡C¤û¬z¸gÀÙªº¤ÀªR«ü¥X¡Aªo»ù¤Wº¦ªº³Ì¤j¼vÅT¡A¬O¥OCPIªº¤É¶Õ¥[¼@¡A¼W¥[¤FÁpÀx§½¤j´T¥[®§ªºÀ£¤O¡C

¥«³õÃöª`©P¤­¤½¥¬ÁpÀx§½­«µøªº³qµÈ«ü¼Ð¢w¢w­ç°£­¹«~¤Î¯à·½»ù®æ«áªº®Ö¤ß­Ó¤H®ø¶O¤ä¥X(PCE)ª«»ù«ü¼Æ¡C¤ÀªR®v¹w´Á¡A¬ü°ê1¤ë®Ö¤ßPCE«ö¦~¤É´T¹F5%¡A¬O1983¦~9¤ë¥H¨Ó°ª¦ì¡C¬ÛÃö¼Æ¾Ú¹ïÁpÀx§½¥[®§´T«×¦³«ü¼Ð§@¥Î¡C

­YÁpÀx§½¤j´T¥[®§¡A±N¥i¯à§í¨î¸gÀÙ¼Wªø¡A§@¬°Á×ÀI¸ê²£ªº¶Àª÷¶]ĹªÑ¶Å¡Cª÷»ù¥»¤ë¥H¨Ó³Ì¦h¤É¹O5%¡A¤W©P´¿¬ð¯}¨C¯s¥q1900¬ü¤¸¡CªáºX¶°¹Î¤ÀªR®vAakash Doshiªí¥Ü¡A³qµÈ¤Þµoªº³f¹ô¬Fµ¦¿ù»~ªº¥i¯à©Ê¡A¥H¤Î¸gÀÙ°I°hªº­·ÀI¡A¬°ª÷»ù±a¨Ó¤ä«ù¡A¹w­p¥¼¨Ó3­Ó¤ëª÷»ù¥i¯àIJ¤Î¨C¯s¥q1950¬ü¤¸¡C°ª²±§ó©ãª`¡Aª÷»ù¥i¯à¬ð¯}2020¦~8¤ë©Ò³Ðªº¨C¯s¥q2000¬ü¤¸¥H¤Wªº¬ö¿ý¡C¥H©¹¹ê»Ú§Q²v»Pª÷»ù§e­t¬ÛÃö(negative correlation)¡A¦]¬°¸û°ªªº§Q²v·|­°§C¶Àª÷µ¥µL®§¸ê²£ªº§l¤Þ¤O¡A¤£¹L¨ü¨ì³qµÈ©M¼Wªø«e´ºªº¼vÅT¡Aª÷»ù»P¸g³qµÈ½Õ¾ãªº¹ê»Ú§Q²v¤§¶¡ªºÃö«Y´î®z¡C

¤µ¦~¬ü°ê10¦~´Á°ê¶Å¹ê»Ú´F®§²v¤w¥Ñ­t1Íù¤É¦Ü­t0.5Íù¡A¦Óª÷»ù¤]¤É¬ï¨C¯s¥q1850¬ü¤¸¡C¤@¥¹¬ü°ê¸gÀټƾڶ}©lÂà®z¡A¸êª÷±N¥[§Ö¬y¤J¶Àª÷ETF¡C¥@¬É¶Àª÷¨ó·|(WGC)¼Æ¾ÚÅã¥Ü¡A¥þ²y¶Àª÷ETF«ù­Ü¤µ¦~¥H¨Ó¼W¥[57.3¾·¡C¤£¹L¨ü´f©ó¨¾¬Ì±¹¬I©ñ¼e¡A®È¹C©M®T¼Öµ¥®ø¶OªA°Èªº»Ý¨D´£¤É¡A¼Ú¤¸°Ï¸gÀÙ¦b2¤ë«ì´_¼Wªø¶ÕÀY¡C¬Q¤½¥¬ªº¼Ú¤¸°Ï2¤ëºî¦XPMI¤É¦Ü55.8¡A¬O5­Ó¤ë¥H¨Ó³Ì°ª¤ô¥­¡C¼Ú¤¸°ÏªA°È·~¤Î»s³y·~·s­q³æ«ü¼Æ§¡¦b2¤ë³Ð6­Ó¤ë·s°ª¡A¤£¹L¼Ú¤¸°Ïªº³Ò¤uÁ~¹S¼Wªø¤Î¯à·½»ù®æötº¦¡A±a¨Ó¨I­«ªº¥[»ùÀ£¤O¡A¥i¯à¼vÅT¸gÀÙ«e´º¡C¸g¦X²Õ´(OECD)¬Q©ÜÅSªºªì¨B¼Æ¾ÚÅã¥Ü¡AOECD¦a°Ï¥h¦~GDP¹ê»Ú¼Wªø5.5%¡A±q2020¦~ªº4.6%µäÁYIJ©³¤Ï¼u¡C(ºî¦X³ø¹D)

§ó¦h°ê»Ú­n»D
­^°ê­º¬Û¬ù¿«»¹©P¤@¡]21¤é¡^«Å¥¬¡A­^®æÄõ¦a°Ï¥»©P±N¨ú®ø©Ò¦³¨¾¬Ìªk«ß³W©w¡A§@¬°¡u»P¯f¬r¦@¦s¡vµ¦²¤¤@³¡¤À¡A¨Ò¦p½T¶EªÌ¤£»Ý­n¹jÂ÷µ¥¡C¦b­^®æÄõ¦a°Ïªº... ¸Ô±¡
¥»¤ëªì¤~¦]±²¤J³c¬r¬~¿ú®×ªº·ç¤h²Ä¤G¤j«H¶U»È¦æ·ç¤h«H¶U»È¦æ¡]Credit Suisse¡A¤UºÙ·ç«H¡^¡A ©P¤é¡]20¤é¡^³Q¶Ç´C´¦µo¥Ñ1940¦~¥N¨ì... ¸Ô±¡
¤é¥»¡m²£¸g·s»D¡n³ø¹D¡A­º¬Û©¤¥Ð¤å¶¯­p¹º¤U¤ë³X°Ý¦L«×¡A»P¦L«×Á`²z²ö­}·|½Í¡A¬ß±j¤Æ¨â°ê¦X§@¹ê²{¡u¦Û¥Ñ»P¶}©ñªº¦L¤Ó¦a°Ï¡v¡A¨¾³Æ¤¤°ê«Â¯Ù¡C³ø¹D¤Þ­z¦h... ¸Ô±¡
·N¤j§Q¾n¿D¬w¤j¨Ï®a¤¤ÅS¥x¼Z¼Ó¤`
·N¤j§Q¾n¿D¬w¤j¨Ï¶ðº¸­}›Í§Q¡]Francesca Tardioli¡A¹Ï¡^¦^°ê«×°²´Á¶¡¡A©P¤é¡]20¤é¡^±q·N¤j§Q¥_³¡ºÖ§Q¥§›Í¡]Foligno¡^3¼Ó... ¸Ô±¡
¤éÒ­ÀIÂ_³q°T ¦a²y«ê¥¼­±¦V¼QµoÁקT
¼Ú¬w¤ÓªÅÁ`¸p¡]ESA¡^ªº¤Ó¶§Æ[´ú½Ã¬P¡u¤Ó¶§­y¹D¡v¸¹©M¬ü°ê¤ÓªÅÁ`¸p¡]NASA¡^ªº¤Ó¶§±´´ú½Ã¬P¡u¤é¦aÃö«Y¤Ñ¤å¥xA¡vµ¥¼Æ­Ó¤Ñ¤åÆ[¹î¸Ë¸m¡A¤W©P¤G¡]1... ¸Ô±¡

©ú³øºô¯¸ ¡P ª©Åv©Ò¦³ ¡P ¤£±oÂà¸ü
Copyright © 2022 mingpaocanada.com All rights reserved.
Ming Pao Daily News A wholly owned subsidiary of Ming Pao Enterprise Corporation Ltd.
Toronto Chinese Newspaper

Chief Executive Officer: Ka Ming Lui | Executive Chief Editor: Richard Kwok Kai Ng
1355 Huntingwood Drive, Scarborough, Ontario, Canada M1S 3J1 | Tel.: (416) 321-0088 | Fax: (416) 321-5377 | Advertising Hotline Tel: (416) 673-8250