{"id":11117,"date":"2026-01-15T20:02:29","date_gmt":"2026-01-15T23:02:29","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=11117"},"modified":"2026-01-15T20:02:30","modified_gmt":"2026-01-15T23:02:30","slug":"%ec%98%a4%eb%8a%98%ec%9d%98-%ea%b2%bd%ec%a0%9c01%ec%9b%94-15%ec%9d%bc-2","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=11117","title":{"rendered":"\uc624\ub298\uc758 \uacbd\uc81c(01\uc6d4 15\uc77c)"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

\uc624\ub298\uc758 \uacbd\uc81c<\/p>\n\n\n\n

    \n
  1. \uacbd\uc81c\ubd80, \uc62c\ud574 \uccab \uad6d\ucc44 \uc785\ucc30 \ub864\uc624\ubc84 98% \ub2ec\uc131
    \uc815\ubd80\ub294 \ud398\uc18c\ud654 \ud45c\uc2dc \uad6d\ucc44 \uc2dc\uc7a5\uc5d0\uc11c \uc62c\ud574 \uccab \ubc88\uc9f8\uc774\uc790 \uac00\uc7a5 \ud070 \uc2dc\ud5d8\ub300\ub97c \uc131\uacf5\uc801\uc73c\ub85c \ub118\uacbc\ub2e4. \ucd1d 9\uc870 3,700\uc5b5 \ud398\uc18c \uaddc\ubaa8\uc758 \ub9cc\uae30\ub97c \ucc28\ud658\ud558\ub294 \ub370 \uc131\uacf5\ud558\uba70 \ub864\uc624\ubc84 \ube44\uc728 98%\ub97c \uae30\ub85d\ud588\ub294\ub370, \uc774\ub294 \uc2dc\uc7a5\uc774 \uc0ac\uc804\uc5d0 \uc608\uc0c1\ud558\ub358 \uc218\uc900\uacfc \uc77c\uce58\ud55c\ub2e4.
    \uc774\ubc88 \uacb0\uacfc\ub294 \uc778\ud50c\ub808\uc774\uc158 \uc7ac\uac00\uc18d \uad6d\uba74\uacfc, \uc2dc\uc911 \uc720\ub3d9\uc131(\ud1b5\ud654\ub7c9)\uc744 \uc5c4\uaca9\ud788 \uad00\ub9ac\ud558\ub824\ub294 \uc815\ubd80\uc758 \uacf5\uc2dd \uc804\ub7b5\uc774\ub77c\ub294 \ub9e5\ub77d \uc18d\uc5d0\uc11c \ub098\uc654\ub2e4.
    \ub2e4\ub9cc, \uc774 \uc131\uacfc\uc5d0\ub294 \uc0c1\ub2f9\ud55c \ube44\uc6a9\uc774 \ub530\ub790\ub2e4.
    \uc218\uc775\ub960 \uace1\uc120 \uc911 \uac00\uc7a5 \ub2e8\uae30 \uad6c\uac04, \uc989 2\uc6d4 27\uc77c \ub9cc\uae30 \uace0\uc815\uae08\ub9ac \ucc44\uad8c\uc758 \uae08\ub9ac\ub294 \uc5f0 49.16%\uae4c\uc9c0 \uc0c1\uc2b9\ud588\uc73c\uba70, \uc774\ub294 \ud398\uc18c\ud654 \uc2dc\uc7a5\uc5d0 \uc874\uc7ac\ud558\ub294 \uae34\uc7a5 \uc0c1\ud0dc\ub97c \uadf8\ub300\ub85c \ubc18\uc601\ud55c\ub2e4. \uc2e4\uc81c\ub85c \uc785\ucc30 \uc774\uc804 \uba70\uce60 \ub3d9\uc548 \uc99d\uad8c\uac70\ub798\uc18c\uc758 \ucf5c(\ub2f4\ubcf4) \uae08\ub9ac\ub294 \uc5f0 150% \uae4c\uc9c0 \uce58\uc19f\uc73c\uba70, \uc720\ub3d9\uc131 \ubd80\uc871\uc774 \uadf9\uba85\ud558\uac8c \ub4dc\ub7ec\ub0ac\ub2e4.
    \uc7ac\ubb34\uccad\uc5d0 \ub530\ub974\uba74 \uc774\ubc88 \uacbd\ub9e4\uc5d0\uc11c \ucd1d 10\uc870 6,000\uc5b5 \ud398\uc18c\uc758 \uc8fc\ubb38\uc774 \uc811\uc218\ub418\uc5c8\uace0, \uadf8\uc911 9\uc870 3,700\uc5b5 \ud398\uc18c\uac00 \ub099\ucc30\ub418\uc5b4 \ub9cc\uae30 \ub3c4\ub798 \ubb3c\ub7c9\uc758 \uac70\uc758 \uc804\ubd80\ub97c \ucda9\ub2f9\ud560 \uc218 \uc788\uc5c8\ub2e4.
    \ub9cc\uae30\uac00 \ub3c4\ub798\ud55c \ucc44\uad8c\uc744 \ud22c\uc790\uc790\ub4e4\uc774 \uacc4\uc18d\ud574\uc11c \ud398\uc18c\ud654\ub85c \uc7ac\ucc28 \uc778\uc218(\ucc28\ud658) \ud558\uace0\ub294 \uc788\uc9c0\ub9cc, \uadf8 \ub300\uac00\ub85c \ub354 \ub192\uc740 \uae08\ub9ac \ud504\ub9ac\ubbf8\uc5c4\uc744 \uc694\uad6c\ud558\uace0 \uc788\ub294 \uc0c1\ud669\uc774\ub2e4. \uc774\ub7ec\ud55c \ud658\uacbd \uc18d\uc5d0\uc11c \uace0\uc815\uae08\ub9ac \uc0c1\ud488\uacfc \ub354 \uc9e7\uc740 \ub9cc\uae30\uc758 \uc0c1\ud488\uc5d0 \ub300\ud55c \uc120\ud638\uac00 \ub69c\ub837\ud558\uac8c \uad00\ucc30\ub418\uc5c8\ub2e4.
    \ub610\ud55c TAMAR (\uace0\uc561 \uc608\uae08 \uc774\uc790) \uc5f0\ub3d9 \ucc44\uad8c(M31G6)\uc5d0 \ub300\ud55c \uc591\ud638\ud55c \uc218\uc694\uac00 \ub450\ub4dc\ub7ec\uc84c\ub294\ub370, 1\uc870 4,500\uc5b5 \ud398\uc18c \uaddc\ubaa8\ub85c, \ub2e8\uae30 \uace0\uae08\ub9ac \ud658\uacbd\uc5d0 \ub300\ud55c \ud5e4\uc9c0 \uc218\ub2e8\uc73c\ub85c \ud65c\uc6a9\ub418\uc5c8\ub2e4.
    \ubc18\uba74, CER(\ubb3c\uac00\uc5f0\ub3d9) \ucc44\uad8c\uc740 \uc911\uac04 \uc218\uc900\uc758 \uc218\uc694\uc5d0 \uadf8\ucce4\uace0, \ub2ec\ub7ec \uc5f0\ub3d9(d\u00f3lar linked) \uc0c1\ud488\uc740 \uad00\uc2ec\uc774 \ub9e4\uc6b0 \ub0ae\uc740 \uc218\uc900\uc744 \ubcf4\uc600\ub2e4.<\/li>\n\n\n\n
  2. \uc911\uc559\uc740\ud589(BCRA), 1\uc5b5 8,700\ub9cc \ub2ec\ub7ec \ub9e4\uc785\u2026 10\uac1c\uc6d4 \ub9cc\uc5d0 \ucd5c\ub300 \uc21c\ub9e4\uc218
    \uc911\uc559\uc740\ud589\uc740 \uc678\ud658\uc2dc\uc7a5\uc5d0 \ub2e4\uc2dc \uc801\uadf9\uc801\uc73c\ub85c \ub098\uc11c\uba70 8\uac70\ub798\uc77c \uc5f0\uc18d \ub2ec\ub7ec \ub9e4\uc785\uc744 \uc774\uc5b4\uac14\ub2e4. \uc774\ubc88\uc5d0\ub294 \ubbf8\ud654 1\uc5b5 8,700\ub9cc \ub2ec\ub7ec\ub97c \ub9e4\uc785\ud588\ub294\ub370, \uc774\ub294 \ucd5c\uadfc 10\uac1c\uc6d4 \uc911 \ucd5c\ub300 \uc21c\ub9e4\uc218 \uaddc\ubaa8\ub85c, \uc678\ud658\ubcf4\uc720\uc561 \ucd95\uc801 \uc18d\ub3c4\ub97c \uac00\uc18d\ud654\ud558\ub294 \ub370 \uae30\uc5ec\ud588\ub2e4.
    \uadf8\ub7ec\ub098 \uc678\ud658\ubcf4\uc720\uc561\uc5d0 \ub300\ud55c \uc21c\ud6a8\uacfc\ub294 \uc81c\ud55c\uc801\uc774\uc5c8\ub2e4.
    \ucd1d\uc678\ud658\ubcf4\uc720\uc561\uc740 \uace0\uc791 3,700\ub9cc \ub2ec\ub7ec \uc99d\uac00\ud558\ub294 \ub370 \uadf8\uccd0 447\uc5b5 1700\ub9cc \ub2ec\ub7ec\ub85c \ub9c8\uac10\ud588\ub294\ub370, \uc774\ub294 \uad6d\uc81c\uae30\uad6c\uc5d0 \uc57d 1\uc5b5 \ub2ec\ub7ec\ub97c \uc9c0\uae09\ud588\uae30 \ub54c\ubb38\uc774\ub2e4. \uc5ec\uae30\uc5d0 \ub354\ud574 \uae08 \uac00\uaca9\uc774 1% \uc0c1\uc2b9\ud558\uba70 \uc0ac\uc0c1 \ucd5c\uace0\uce58\ub97c \uacbd\uc2e0\ud55c \uc810\uc774 \uc911\uc559\uc740\ud589 \uc790\uc0b0 \ud3c9\uac00\uc5d0 \uae0d\uc815\uc801\uc778 \uc601\ud5a5\uc744 \ubbf8\ucce4\ub2e4.
    \ud604\ubb3c\uc2dc\uc7a5(\uc2a4\ud3ff)\uc5d0\uc11c\ub294 \uc911\uc559\uc740\ud589\uc774 \uc774\ub840\uc801\uc73c\ub85c \ud070 \ube44\uc911\uc744 \ub9e4\uc785\ud588\ub2e4.
    \uac70\ub798\ub7c9\uc758 \uc57d 70%\ub97c \ud761\uc218\ud588\ub294\ub370, \ub2f9\uc77c \ud604\ubb3c\uc2dc\uc7a5 \uc804\uccb4 \uac70\ub798 \uaddc\ubaa8\ub294 2\uc5b5 6,900\ub9cc \ub2ec\ub7ec\uc5d0 \ubd88\uacfc\ud588\ub2e4. \uc774\ub294 \ud558\ub8e8 \ud3c9\uade0 \uc57d 5%\ub9cc \ub9e4\uc785\ud558\uaca0\ub2e4\ub294 \uacf5\uc2dd \ubaa9\ud45c\ub97c \ud06c\uac8c \uc6c3\ub3c4\ub294 \uc218\uc900\uc774\ub2e4.
    \ud55c\ud3b8, \uc120\ubb3c\uc2dc\uc7a5\uc5d0\uc11c\ub294 5\uc5b5 6,700\ub9cc \ub2ec\ub7ec\uac00 \uac70\ub798\ub418\uc5c8\ub2e4. \uc774\ub7ec\ud55c \uac1c\uc785 \uaddc\ubaa8\ub294 \uc2dc\uc7a5 \ucc38\uac00\uc790\ub4e4 \uc0ac\uc774\uc5d0\uc11c \ub208\uc5d0 \ub744\uc9c0 \uc54a\uc744 \uc218 \uc5c6\uc5c8\uc73c\uba70, \uc911\uc559\uc740\ud589\uc774 \uac70\ub798 \ud654\uba74\uc0c1\uc5d0 \uc9c1\uc811 \ub098\ud0c0\ub098\uc9c0 \uc54a\uc558\ub2e4\ub294 \uc810\uc744 \uadfc\uac70\ub85c, \uc2dc\uc7a5\uc5d0\uc11c\ub294 \uc7ac\ubb34\uccad\uc774 \uacfc\uac70\uc5d0 \uc0ac\uc6a9\ud588\ub358 \ubc29\uc2dd\uacfc \uc720\uc0ac\ud55c \u2018\ube14\ub85d \uac70\ub798\u2019 \ud615\ud0dc\ub85c \ub9e4\uc785\uc774 \uc774\ub904\uc84c\uc744 \uac83\uc73c\ub85c \ucd94\uc815\ud558\uace0 \uc788\ub2e4.<\/li>\n\n\n\n
  3. \uacf5\uc2dd \ud658\uc728, \ub2e4\uc2dc \ud558\ub77d\u2026 \ud658\uc728 \ubc34\ub4dc \uc0c1\ub2e8\uacfc\uc758 \uaca9\ucc28 \ud655\ub300
    \uacf5\uc2dd \ub2ec\ub7ec \ud658\uc728\uc774 \ub2e4\uc2dc \ud558\ub77d\ud558\uba70, \ud658\uc728 \ubc34\ub4dc \uc0c1\ub2e8\uc5d0\uc11c \ub354\uc6b1 \uba40\uc5b4\uc84c\ub2e4.
    \uacf5\uc2dd \ud658\uc728\uc740 \uc804 \uac70\ub798\uc77c\uc5d0 \uc57d \ub450 \ub2ec \ub9cc\uc758 \ucd5c\ub300 \uc77c\uc77c \ud558\ub77d\ud3ed\uc744 \uae30\ub85d\ud55c \uc774\ud6c4 \ub2e4\uc2dc \ud558\ub77d\ud588\uc73c\uba70, \uc774\ub85c \uc778\ud574 \ud658\uc728 \ubc34\ub4dc\uc758 \uc0c1\ub2e8 \ud55c\uacc4\uc640\uc758 \uac70\ub9ac\uac00 \ub354\uc6b1 \ud655\ub300\ub418\uc5c8\ub2e4. \uad6d\uc601\uc740\ud589(Banco Naci\u00f3n)\uc5d0\uc11c \uc18c\ub9e4 \ub2ec\ub7ec\ub294 1,475\ud398\uc18c\uc5d0 \ub9c8\uac10\ud588\uc73c\uba70, \ub3c4\ub9e4\uc2dc\uc7a5\uc5d0\uc11c\ub294 1,453\ud398\uc18c\uc5d0 \uac70\ub798\ub418\uc5c8\ub2e4. \uc774\uc5d0 \ub530\ub77c \uacf5\uc2dd \ud658\uc728\uc740 \ud604\uc7ac 1,543.20\ud398\uc18c\ub85c \uc124\uc815\ub41c \ud658\uc728 \ubc34\ub4dc \uc0c1\ub2e8 \ub300\ube44 6.2% \ub0ae\uc740 \uc218\uc900\uc5d0 \uc704\uce58\ud558\uac8c \ub418\uc5c8\ub2e4.
    \uae08\uc735\uc2dc\uc7a5 \ubd80\ubb38\uc5d0\uc11c\ub294 CCL \ud658\uc728\uc774 1,528.28\ud398\uc18c, MEP \ud658\uc728\uc740 1,481.74\ud398\uc18c\uc5d0 \uac70\ub798\ub418\uc5c8\ub2e4. \uc774\uc5d0 \ub530\ub77c \ub3c4\ub9e4 \ub2ec\ub7ec \ub300\ube44 \uaca9\ucc28\ub294 \uac01\uac01 5.18%\uc640 1.98%\ub85c \ub098\ud0c0\ub0ac\ub2e4.
    \ud658\uc728 \ubc34\ub4dc\ub294 \ub9e4\uc6d4 \ucd08, \uadf8 \uc2dc\uc810\uae4c\uc9c0 \ud655\uc778\ub41c \uc778\ud50c\ub808\uc774\uc158(\ub450 \ub2ec \uc804 \uc218\uce58 \uae30\uc900)\uc5d0 \ub530\ub77c \uc870\uc815\ub41c\ub2e4. \uc774\ub7ec\ud55c \uad6c\uc870 \uc18d\uc5d0\uc11c, \ud658\uc728 \ubc34\ub4dc \uc0c1\ub2e8\uc740 1\uc6d4 \ub9d0 \uae30\uc900 2.5% \uc870\uc815\uc744 \ubc18\uc601\ud574 1,564.30\ud398\uc18c\uc5d0\uc11c \ub9c8\uac10\ub420 \uc608\uc815\uc774\ub2e4(11\uc6d4 \uc778\ud50c\ub808\uc774\uc158\uacfc \uc5f0\ub3d9).
    \uc774\uc5b4 2\uc6d4 28\uc77c\uc5d0\ub294 \ucd94\uac00\ub85c 2.8% \uc778\uc0c1\uc774 \uc608\uc0c1\ub418\uba70, \uc774\uc5d0 \ub530\ub77c \uc0c1\ub2e8 \ud55c\uacc4\ub294 1,608.10\ud398\uc18c\uae4c\uc9c0 \uc0c1\uc2b9\ud560 \uac83\uc73c\ub85c \uc804\ub9dd\ub41c\ub2e4.
    \ucd5c\uadfc \uc778\ud50c\ub808\uc774\uc158\uc758 \uc7ac\uac00\uc18d\uc740 \uc0c8\ub85c\uc6b4 \ud658\uc728 \uccb4\uacc4 \ud558\uc5d0\uc11c \ud658\uc728\uc5d0 \uc555\ub825\uc744 \uac00\ud558\uace0 \uc788\uc73c\ub098, \uc815\ubd80\ub294 \ub2ec\ub7ec\uac00 \uc790\ub3d9\uc801\uc73c\ub85c \ubc34\ub4dc \uc0c1\u00b7\ud558\ub2e8\uc73c\ub85c \uc774\ub3d9\ud574\uc11c\ub294 \uc548 \ub41c\ub2e4\ub294 \uc785\uc7a5\uc744 \uace0\uc218\ud558\uace0 \uc788\ub2e4. \uc774\ub7ec\ud55c \uc0c1\ud669\uc5d0\uc11c \uc2dc\uc7a5\uc740 \uae30\ub300 \uc778\ud50c\ub808\uc774\uc158\uc744 \uace0\uc815\ud558\uae30 \uc704\ud55c \uc815\ubd80 \uc804\ub7b5\uc758 \uc2e4\ud6a8\uc131\uc744 \uba74\ubc00\ud788 \uc8fc\uc2dc\ud558\uace0 \uc788\uc73c\uba70, \ud2b9\ud788 \ub2e8\uae30 \uae08\ub9ac\uc640 \uc911\uc559\uc740\ud589(BCRA)\uc758 \uac1c\uc785 \uc5ec\ubd80\ub97c \ud658\uc728 \uc548\uc815\uc758 \ud575\uc2ec \ubcc0\uc218\ub85c \ubcf4\uace0 \uc788\ub2e4.<\/li>\n\n\n\n
  4. \uba54\ub974\ubc1c(Merval)\uacfc \uad6d\ucc44\uc758 \uac15\ud55c \uc870\uc815
    \uc544\ub974\ud5e8\ud2f0\ub098 \uae08\uc735\uc2dc\uc7a5\uc740 \ubd80\uc815\uc801\uc778 \ud558\ub8e8\ub97c \ubcf4\ub0c8\ub2e4. \ub2ec\ub7ec \uae30\uc900 S&P \uba54\ub974\ubc1c \uc9c0\uc218\ub294 \ud55c \ub2ec \ubc18 \ub9cc\uc5d0 \ucd5c\ub300 \ud558\ub77d\ud3ed\uc744 \uae30\ub85d\ud558\uba70 11\uc6d4 \uc774\ud6c4 \ucd5c\uc800 \uc218\uc900\uc73c\ub85c \ub5a8\uc5b4\uc84c\ub2e4.
    \ub3d9\uc2dc\uc5d0 \ub2ec\ub7ec \ud45c\uc2dc \uad6d\ucc44\ub4e4\ub3c4 \ud558\ub77d\uc138\ub97c \ud655\ub300\ud588\ub294\ub370, \uc774\ub294 REPO (\ud658\ub9e4\uc870\uac74\ubd80\ucc44\uad8c) \ub300\ucd9c \uc0c1\ud658\uacfc \uc911\uc559\uc740\ud589\uc758 \uc678\ud658\ubcf4\uc720\uc561 \ucd95\uc801 \uc9c4\uc804\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \ub098\ud0c0\ub09c \uc6c0\uc9c1\uc784\uc774\ub2e4. \uac00\uc7a5 \ud070 \ud0c0\uaca9\uc744 \ubc1b\uc740 \uc885\ubaa9\uc740 \uae00\ub85c\ubc8c \ucc44\uad8c\uc73c\ub85c, GD41\uc740 -0.4%, GD29\ub294 -0.3% \ud558\ub77d\ud588\ub2e4.
    \uc774\ub7ec\ud55c \ud750\ub984 \uc18d\uc5d0\uc11c \uad6d\uac00\uc704\ud5d8\ub3c4\ub294 \ub2e4\uc2dc \uc0c1\uc2b9\ud574 \uc57d 586bp\ub97c \uae30\ub85d\ud588\uc73c\uba70, \uc774\ub294 12\uc6d4 15\uc77c \uc774\ud6c4 \ucd5c\uace0\uce58\ub2e4.
    \uad6d\uc81c\uc801\uc73c\ub85c\ub294 \uae08\uc735\uae30\uad00 \uc8fc\uac00 \ud558\ub77d\uc774 \ud604\uc9c0 \uc2dc\uc7a5\uc5d0\ub3c4 \uc601\ud5a5\uc744 \ubbf8\ucce4\uc73c\uba70, \ud2b9\ud788 \uc21c\uc678\ud658\ubcf4\uc720\uc561\uc774 \uc5ec\uc804\ud788 \ub9c8\uc774\ub108\uc2a4 \uc601\uc5ed\uc5d0 \uba38\ubb3c\ub7ec \uc788\ub2e4\ub294 \uc810\uc774 \uc9c0\uc18d\uc801\uc73c\ub85c \uc8fc\ubaa9\ubc1b\uace0 \uc788\ub2e4.
    \uc774\ub7ec\ud55c \ud658\uacbd \uc18d\uc5d0\uc11c, \uc6d4\uac00\uc5d0 \uc0c1\uc7a5\ub41c \uc544\ub974\ud5e8\ud2f0\ub098 \uc790\uc0b0\ub4e4\ub3c4 \ubd80\uc9c4\ud55c \uc131\uacfc\ub97c \ubcf4\uc600\uc73c\uba70, ADR\uc740 \ucd5c\ub300 5.6%\uae4c\uc9c0 \ud558\ub77d\ud588\ub2e4. \uad6d\ub0b4 \uc2dc\uc7a5\uc5d0\uc11c\ub294 S&P \uba54\ub974\ubc1c \uc9c0\uc218\uac00 \ud398\uc18c \uae30\uc900 2.8%, \ub2ec\ub7ec \uae30\uc900 3.2% \ud558\ub77d\ud588\ub2e4. \ub2ec\ub7ec \uae30\uc900\uc73c\ub85c\ub294 11\uc6d4 21\uc77c \uc774\ud6c4 \ucd5c\ub300 \ud558\ub77d\ud3ed\uc744 \uae30\ub85d\ud588\uace0, 11\uc6d4 25\uc77c \uc774\ud6c4 \ucd5c\uc800 \uc218\uc900\uc744 \ub098\ud0c0\ub0c8\ub2e4.<\/li>\n\n\n\n
  5. \uc0b0\uc5c5 \uac00\ub3d9\ub960, 3\uc6d4 \uc774\ud6c4 \ucd5c\uc800 \uc218\uc900
    \uc0b0\uc5c5 \uc124\ube44 \uac00\ub3d9\ub960\uc740 3\uc6d4 \uc774\ud6c4 \ucd5c\uc800\uce58\ub85c \ud558\ub77d\ud588\ub2e4.
    11\uc6d4 \uc0b0\uc5c5 \uc124\ube44 \uac00\ub3d9\ub960\uc740 57.7%\ub97c \uae30\ub85d\ud588\uc73c\uba70, \uc774\ub294 2024\ub144 \uac19\uc740 \ub2ec\uc758 62.3% \ub300\ube44 \ud070 \ud3ed\uc758 \ud558\ub77d\uc774\ub2e4. \ub610\ud55c 2025\ub144 3\uc6d4 \uc774\ud6c4 \uac00\uc7a5 \ub0ae\uc740 \uc218\uc900\uc774\ub2e4. \uc774 \uc218\uce58\ub294 \uc0b0\uc5c5 \ubd80\ubb38 \uac04\uc758 \ub69c\ub837\ud55c \uc591\uadf9\ud654\ub97c \ub2e4\uc2dc \ud55c\ubc88 \ubcf4\uc5ec\uc900\ub2e4. \uc77c\ubd80 \uc5c5\uc885\uc740 \uac00\ub3d9\ub960 \uc0c1\ub2e8\uc5d0 \uadfc\uc811\ud55c \ubc18\uba74, \ub2e4\ub978 \uc5c5\uc885\uc740 \uc2ec\uac01\ud55c \uce68\uccb4\ub97c \uc9c0\uc18d\ud558\uace0 \uc788\ub2e4.
    \uac00\uc7a5 \ud070 \ud0c0\uaca9\uc744 \ubc1b\uc740 \ubd80\ubb38\uc740 \uc12c\uc720 \uc0b0\uc5c5\uc73c\ub85c, \uac00\ub3d9\ub960\uc774 30% \ubbf8\ub9cc\uc5d0 \uba38\ubb3c\uba70 \ucd5c\uadfc \uc218\uac1c\uc6d4\uac04\uc758 \ubd80\uc815\uc801 \ud750\ub984\uc744 \ub354\uc6b1 \uc2ec\ud654\uc2dc\ucf30\ub2e4.
    \ubc18\ub300\ub85c \uc815\uc720 \ubd80\ubb38\uc740 \uac00\ub3d9\ub960 86.5%\ub85c \uc5c5\uc885 \uc911 \uac00\uc7a5 \ub192\uc740 \uc218\uc900\uc744 \uae30\ub85d\ud588\ub2e4. \ud3c9\uade0\uc744 \uc6c3\ub3c4\ub294 \uc5c5\uc885\uc73c\ub85c\ub294 \uae30\ucd08 \uae08\uc18d(73.3%), \uc81c\uc9c0\u00b7\ud310\uc9c0(71.2%), \uc2dd\uc74c\ub8cc(64.2%), \ube44\uae08\uc18d \uad11\ubb3c(58.2%), \ud654\ud559\uc81c\ud488(57.8%) \ub4f1\uc774 \ud3ec\ud568\ub410\ub2e4.
    \ubc18\uba74, \ub69c\ub837\ud558\uac8c \ub4a4\ucc98\uc9c4 \uc5c5\uc885\ub4e4\ub3c4 \ub9ce\uc558\ub2e4. \ucd9c\ud310\u00b7\uc778\uc1c4\ub294 50.6%, \uc790\ub3d9\ucc28 \uc0b0\uc5c5 46.3%, \ub2f4\ubc30 \uc81c\ud488 44.9%, \uace0\ubb34\u00b7\ud50c\ub77c\uc2a4\ud2f1 41.0%, \uc790\ub3d9\ucc28 \uc81c\uc678 \uae08\uc18d\uae30\uacc4 39.9%, \uadf8\ub9ac\uace0 \uc12c\uc720 \uc81c\ud488\uc740 \ucd5c\ud558\uc704\ub85c 29.2%\uc5d0 \ubd88\uacfc\ud588\ub2e4. \uc804\ubc18\uc801\uc73c\ub85c \uc77c\ubd80 \ud68c\ubcf5 \uc870\uc9d0\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0, \uc0b0\uc5c5 \uc804\ubc18\uc740 \uc5ec\uc804\ud788 \ucde8\uc57d\ud55c \uad6d\uba74\uc5d0 \uc788\uc73c\uba70, \uc5c5\uc885 \uac04 \uaca9\ucc28\uc640 \uacfc\uc789 \uc720\ud734\uc124\ube44\uac00 \ub192\uc740 \uc218\uc900\uc744 \uc720\uc9c0\ud558\uace0 \uc788\uc74c\uc744 \ud655\uc778\uc2dc\ucf1c \uc900\ub2e4.<\/li>\n\n\n\n
  6. \uc6d4\uac00 \uae30\uc220\uc8fc \ud558\ub77d\uacfc \uc778\ud50c\ub808\uc774\uc158 \uad00\ub828 \ud63c\uc7ac\ub41c \uc2e0\ud638\ub85c \ud558\ub77d \ub9c8\uac10
    \uc911\uad6d\uc758 H200 \ubc18\ub3c4\uccb4 \uc218\uc785 \uc81c\ud55c \uac15\ud654\ub85c \ubc18\ub3c4\uccb4 \uc8fc\uac00\uac00 \uae09\ub77d\ud558\uba70 \uae30\uc220\uc8fc \uc804\ubc18\uc774 \uc57d\uc138\ub97c \ubcf4\uc600\ub2e4. \uc774\uc5d0 \ub530\ub77c \ub2e4\uc6b0\uc9c0\uc218 -0.1%, S&P500 -0.5%, \ub098\uc2a4\ub2e5 -1%\ub97c \uae30\ub85d\ud588\ub2e4.
    \uac70\uc2dc \uce21\uba74\uc5d0\uc11c\ub294 \uc0dd\uc0b0\uc790\ubb3c\uac00\uc9c0\uc218 (PPI)\uac00 10\uc6d4 0.1%, 11\uc6d4 0.2% \uc0c1\uc2b9\ud558\uba70 \uc644\ub9cc\ud55c \ud750\ub984\uc744 \ubcf4\uc600\uc73c\ub098, \uadfc\uc6d0 PPI\ub294 10\uc6d4\uc5d0 0.7% \uae09\ub4f1, 11\uc6d4\uc5d0\ub294 \uc804\ub144 \ub300\ube44 3.5%\ub97c \uae30\ub85d\ud574 3\uc6d4 \uc774\ud6c4 \ucd5c\uace0\uce58\uc5d0 \ub3c4\ub2ec\ud588\ub2e4. \uc5ec\uae30\uc5d0 11\uc6d4 \uc18c\ub9e4\ud310\ub9e4\uac00 \uc804\uc6d4 \ub300\ube44 0.6% \uc99d\uac00\ud558\uba70 \uc608\uc0c1\uce58\ub97c \uc0c1\ud68c\ud574, \uc18c\ube44\uc758 \uacac\uc870\ud568\uc744 \ubc18\uc601\ud558\ub294 \ub3d9\uc2dc\uc5d0 \uc5f0\uc900(Fed)\uc758 \uae08\ub9ac \uc804\ub9dd\uc5d0 \ub300\ud55c \uacbd\uacc4\uac10\uc744 \ub192\uc600\ub2e4.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

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