{"id":9265,"date":"2025-09-08T10:09:33","date_gmt":"2025-09-08T13:09:33","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=9265"},"modified":"2025-09-08T11:45:37","modified_gmt":"2025-09-08T14:45:37","slug":"j-p-morgan-%eb%b3%b4%ea%b3%a0%ec%84%9c%ec%97%90-%eb%94%b0%eb%a5%b4%eb%a9%b4-%ed%82%a4%eb%a5%b4%ec%b9%98%eb%84%a4%eb%a5%b4%ec%a3%bc%ec%9d%98%ec%9d%98-%ec%95%95%eb%8f%84%ec%a0%81%ec%9d%b8-%ec%8a%b9","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=9265","title":{"rendered":"J.P. Morgan \ubcf4\uace0\uc11c\uc5d0 \ub530\ub974\uba74, ‘\ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 \uc555\ub3c4\uc801\uc778 \uc2b9\ub9ac’\uac00 \uae30\ub85d\ub420 \uacbd\uc6b0 \ub2ec\ub7ec\uc640 \uae08\ub9ac\uc5d0 \ub300\ud574 \ubb34\uc5c7\uc774\ub77c\uace0 \ud588\ub294\uac00?"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n


\ubbf8\uad6d \ud22c\uc790\uc740\ud589\uc740 \uc544\ub974\ud5e8\ud2f0\ub098 \ucd5c\ub300 \uc120\uac70\uad6c\uc5d0\uc11c \ubc1c\uc0dd\ud560 \uc218 \uc788\ub294 \uc7a0\uc7ac\uc801 \uacb0\uacfc\ub97c \uace0\ub824\ud588\uc2b5\ub2c8\ub2e4. \uc5b4\ub5a4 \uc608\uce21\uc774 \ub0a8\uc544\uc788\ub294\uac00?<\/p>\n\n\n\n

\uc77c\uc694\uc77c \uc544\ub974\ud5e8\ud2f0\ub098 \ucd5c\ub300 \uc120\uac70\uad6c\uc778 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc8fc \uc120\uac70\ub97c \uc55e\ub450\uace0, \ubbf8\uad6d \ucd5c\ub300 \uc740\ud589\uc778 JP Morgan\uc740 \uc120\uac70 \uacb0\uacfc\uc5d0 \ub530\ub77c \uc6d4\uc694\uc77c\ubd80\ud130 \ub2ec\ub7ec, \uae08\ub9ac, \uad6d\uc81c \uc900\ube44\uae08 \ubc0f \uacbd\uc81c \ud65c\ub3d9\uc5d0 \uc5b4\ub5a4 \uc77c\uc774 \uc77c\uc5b4\ub0a0\uc9c0\uc5d0 \ub300\ud55c \ub450 \uac00\uc9c0 \uc2dc\ub098\ub9ac\uc624\ub97c \uc608\uc0c1\ud588\uc2b5\ub2c8\ub2e4.
\uc815\ubd80\ub294 \ud658\uc728 \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120\uc744 \uc2dc\ud5d8\ud558\ub824\ub294 \ub2ec\ub7ec\ub97c \uc5b5\uc81c\ud558\uae30 \uc704\ud574 \uc2e0\uc18d\ud558\uac8c \ud589\ub3d9\ud574\uc57c \ud560 \uac83\uc774\ub2e4.<\/p>\n\n\n\n

\ucc38\uace0:
\uc815\ubd80\ub294 \ud658\uc728 \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120\uc744 \uc2dc\ud5d8\ud558\ub824\ub294 \ub2ec\ub7ec\ub97c \uc5b5\uc81c\ud558\uae30 \uc704\ud574 \uc2e0\uc18d\ud558\uac8c \ud589\ub3d9\ud574\uc57c \ud560 \uac83\uc774\ub2e4.
\uc624\ub298 \ubc24\uc758 \uc608\ube44 \uacb0\uacfc\ub294 \uc740\ud589\uc774 “\ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 \uc555\ub3c4\uc801\uc778 \uc2b9\ub9ac”\ub77c\uace0 \uba85\uba85\ud55c \uac83\uc744 \ubc18\uc601\ud569\ub2c8\ub2e4.<\/p>\n\n\n\n

\ubbf8\uad6d \uc740\ud589\uc740 \ud558\ube44\uc5d0\ub974 \ubc00\ub808\uc774 \uc815\ubd80\uac00 \ud1b5\uc81c\ud558\ub824\ub294 \ubcc0\uc218\ub4e4\uc5d0 \uc720\ub9ac\ud55c \ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 \uadfc\uc18c\ud55c \uc2b9\ub9ac\ub97c \uae30\ubcf8 \uc2dc\ub098\ub9ac\uc624\ub85c, \ud398\ub860\uc8fc\uc758 \uc5f0\ud569\uc758 \uc555\ub3c4\uc801\uc778 \uc2b9\ub9ac \uc2dc \uc544\ub974\ud5e8\ud2f0\ub098 \uacbd\uc81c\uc758 \uc5b4\ub824\uc6c0\uc744 \uac00\uc911\uc2dc\ud0ac \ub450 \ubc88\uc9f8 \uc2dc\ub098\ub9ac\uc624\ub97c \uac00\uc815\ud588\uc2b5\ub2c8\ub2e4.
\uc8fc\uc694 \uc138\uacc4 \uc5b8\ub860\ub4e4\uc774 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc120\uac70\uc5d0\uc11c\uc758 \ud558\ube44\uc5d0\ub974 \ubc00\ub808\uc774\uc758 \ud328\ubc30\ub97c \ubcf4\ub3c4\ud55c \ubc29\uc2dd<\/p>\n\n\n\n

\ucc38\uace0:
\uc8fc\uc694 \uc138\uacc4 \uc5b8\ub860\ub4e4\uc774 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc120\uac70\uc5d0\uc11c\uc758 \ud558\ube44\uc5d0\ub974 \ubc00\ub808\uc774\uc758 \ud328\ubc30\ub97c \ubcf4\ub3c4\ud55c \ubc29\uc2dd
\uc815\uce58\uc801 \ubc0f \uacbd\uc81c\uc801 \uc601\ud5a5
\uc774 \uae30\uad00\uc740 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc120\uac70\uac00 \ub2ec\ub7ec\uc640 \uae08\ub9ac\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce58\ub294 \uae30\ub300\uce58\uc640 \uc704\ud5d8\uc5d0 \ub300\ud55c \uc911\uc694\uc131 \ub54c\ubb38\uc5d0 \uc815\uce58\uc801 \ubc0f \uacbd\uc81c\uc801 \uad00\uc2ec\uc774 \uc9d1\uc911\ub418\uc5c8\ub2e4\uace0 \uc5b8\uae09\ud558\uba70, \uc778\ud50c\ub808\uc774\uc158 \ub370\uc774\ud130, \uc2e4\uc9c8 \uc784\uae08, \uc5f0\uae08 \ubc0f \uc5ec\ub860\uc758 \ubd84\uc704\uae30\uac00 \uc911\uc694\ud558\ub2e4\uace0 \ubcf4\uc558\uc2b5\ub2c8\ub2e4. \ub610\ud55c, \uc5ec\ub860 \uc870\uc0ac\uac00 \uc8fc\uc694 \uc5f0\ud569\ub4e4 \uac04\uc5d0 5% \ubbf8\ub9cc\uc758 \uadfc\uc18c\ud55c \ucc28\uc774\ub97c \uc608\uc0c1\ud588\uae30 \ub54c\ubb38\uc5d0, \ud22c\ud45c\uc728\uc758 \uc911\uc694\uc131\uc744 \ud3c9\uac00\ud588\uc2b5\ub2c8\ub2e4.
JP Morgan\uc5d0 \ub530\ub974\uba74, \uc815\uce58\uc801 \ubd88\uc548\uc815\uc131\uacfc \ubd88\ud655\uc2e4\uc131\uc774 \uacbd\uc81c \uc0c1\ud669\ubcf4\ub2e4 \ucd5c\uadfc \uae08\uc735 \uc2dc\uc7a5 \ubcc0\ub3d9\uc758 \uc6d0\uc778\uc774\uc5c8\uc73c\uba70, “\uc815\uce58\uc801 \uc704\ud5d8\uc774 \ud604\uc7ac\uc758 \uac70\uc2dc\uacbd\uc81c \ud504\ub85c\uadf8\ub7a8\uc758 \uc18c\uc9c4\uc774 \uc544\ub2cc, \uc8fc\uc694 \ud604\uc9c0 \ubcc0\ub3d9\uc131\uc758 \uc6d0\uc778\uc774\uc5c8\ub2e4. \uc120\uac70\ub97c \uadf9\ubcf5\ud558\ub294 \uac83\uc774 \uc548\uc815\uc131\uc744 \ud68c\ubcf5\ud558\ub294 \ub370 \ub3c4\uc6c0\uc774 \ub420 \uac83\uc774\ub2e4”\ub77c\uace0 \ub9d0\ud588\uc2b5\ub2c8\ub2e4.
\ub2ec\ub7ec: \uc815\ubd80\ub294 \uc0c8\ub85c\uc6b4 \ud658\uc728 \uae34\uc7a5\uc5d0 \uc5b4\ub5bb\uac8c \ub300\ucc98\ud560 \uac83\uc778\uac00?<\/p>\n\n\n\n

\ucc38\uace0:
\ub2ec\ub7ec: \uc815\ubd80\ub294 \uc0c8\ub85c\uc6b4 \ud658\uc728 \uae34\uc7a5\uc5d0 \uc5b4\ub5bb\uac8c \ub300\ucc98\ud560 \uac83\uc778\uac00?
\ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc120\uac70\uc758 \uc7a0\uc7ac\uc801 \uc601\ud5a5\uc5d0 \ub300\ud55c J.P.Morgan\uc758 \ubd84\uc11d \uccab \ud398\uc774\uc9c0
\ud558\uc9c0\ub9cc 4\uc6d4\uc758 \ud658\uc728 \ud1b5\uc81c \ud574\uc81c \uc774\ud6c4 “\uc720\ub3d9\uc131 \ubcc0\ub3d9\uc774 \ud658\uc728\uc5d0 \uac15\ud558\uac8c \uc601\ud5a5\uc744 \ubbf8\ucce4\uc73c\uba70, \uc774\ub294 \uacbd\uc81c\ud300\uc774 \uc8fc\uc694 \ubaa9\ud45c\uc778 \ub514\uc2a4\uc778\ud50c\ub808\uc774\uc158\uc744 \uc704\ud574 \uc81c\ud55c\uc801\uc778 \uc870\uac74\uc744 \uc720\uc9c0\ud558\ub3c4\ub85d \uac15\uc81c\ud588\ub2e4”\uace0 \uc9c0\uc801\ud588\uc2b5\ub2c8\ub2e4. JP Morgan\uc740 \uc774\ub7ec\ud55c \uc804\ub7b5\uc774 \ub2e8\uae30\uc801\uc73c\ub85c \uc720\uc9c0\ub420 \uac83\uc774\ub77c\uace0 \uc608\uc0c1\ud588\uc2b5\ub2c8\ub2e4.
\ub300\uccb4 \uc2dc\ub098\ub9ac\uc624: \ud398\ub860\uc8fc\uc758\uc758 \uba85\ud655\ud55c \uc2b9\ub9ac
JP Morgan\uc774 \ub0ae\uc740 \ud655\ub960\uc744 \ubd80\uc5ec\ud588\ub358 “\ub300\uccb4 \uc2dc\ub098\ub9ac\uc624”\ub294 \ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 “\uc555\ub3c4\uc801\uc778 \uc2b9\ub9ac”\uc600\uc2b5\ub2c8\ub2e4. \uacb0\uad6d \uc774 \uc2dc\ub098\ub9ac\uc624\uac00 \ud604\uc2e4\uc774 \ub418\uc5c8\uc2b5\ub2c8\ub2e4.
\uc774 \uacbd\uc6b0 \ub192\uc740 \uc704\ud5d8 \ud504\ub9ac\ubbf8\uc5c4\uc774 \ub2ec\ub7ec\ub97c \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120\uc73c\ub85c \ubc00\uc5b4\ubd99\uc774\uace0, \uc911\uc559\uc740\ud589\uc774 \ud398\uc18c \uc720\ub3d9\uc131\uc744 \ud761\uc218\ud558\uae30 \uc704\ud574 \uc900\ube44\uae08\uc744 \ub9e4\uac01\ud558\ub3c4\ub85d \uac15\uc81c\ud560 \uac83\uc785\ub2c8\ub2e4. \ub610\ud55c, \uc815\ubd80\ub294 \ub192\uc740 \uc218\uc900\uc758 \uc2e4\uc9c8 \uae08\ub9ac\ub97c \uc720\uc9c0\ud574\uc57c \ud558\uba70, \uc774\ub294 \uacbd\uc81c \ud65c\ub3d9\uacfc \uc7ac\uc815 \uacc4\uc815\uc5d0 \ubd80\uc815\uc801\uc778 \uc601\ud5a5\uc744 \uc2ec\ud654\uc2dc\ud0ac \uac83\uc785\ub2c8\ub2e4.<\/p>\n\n\n\n

\uc545\uc140 \ud0a4\uc2e4\ub85c\ud504 \uc8fc\uc9c0\uc0ac\uac00 \uc624\ub298 \uc911\uac04 \uc120\uac70\uc5d0\uc11c \ud22c\ud45c\ud588\ub2e4 (\uc0ac\uc9c4: AFP)
\uc774 \uae30\uad00\uc740 \ubb34\uc5ed \ud751\uc790\ub97c \uc790\uadf9\ud558\uace0 \uac00\uacc4\uc758 \ub2ec\ub7ec \uc218\uc694\ub97c \uc5b5\uc81c\ud558\uae30 \uc704\ud574 \uc2e4\uc9c8 \ud658\uc728\uc774 \ub354 \ub0ae\uc740 \uc218\uc900\uc5d0\uc11c \uc548\uc815\ub418\uc5b4\uc57c \ud55c\ub2e4\uace0 \ucd94\uc815\ud558\uba70, \uc774\ub97c \ud1b5\ud574 2026\ub144 \ucd08\uc5d0 \uc608\uc0c1\ub418\ub294 \ubd80\ucc44 \uc11c\ube44\uc2a4 \uc9c0\ubd88(43\uc5b5 \ub2ec\ub7ec)\uc744 \ubcf4\uc7a5\ud560 \uc218 \uc788\ub2e4\uace0 \uc5b8\uae09\ud588\uc2b5\ub2c8\ub2e4. “\ud22c\ud45c\uc728\uc774 \ub9e4\uc6b0 \ub0ae\uc9c0 \uc54a\uc740 \ud55c(50% \uc774\ud558), \uc6b0\ub9ac\ub294 \uc774 \uc2dc\ub098\ub9ac\uc624\uc5d0 \ub0ae\uc740 \ud655\ub960\uc744 \ubd80\uc5ec\ud55c\ub2e4”\uace0 \ubcf4\uace0\uc11c\ub294 \uacb0\ub860\uc9c0\uc5c8\uc2b5\ub2c8\ub2e4.
\uc694\uc57d\ud558\uc790\uba74, \ud22c\uc790\uc740\ud589\uc740 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc120\uac70 \ud6c4 \uae08\uc735 \ubcc0\uc218\ub4e4\uc744 \ub2e4\uc74c\uacfc \uac19\uc774 \ubd05\ub2c8\ub2e4.
\uc2dc\ub098\ub9ac\uc624 1: \ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 \uadfc\uc18c\ud55c \uc6b0\uc138(\u22645% \ucc28\uc774) \ub610\ub294 LLA\uc758 \uc2b9\ub9ac.
JP Morgan\uc774 \ud655\uc2e4\ud558\ub2e4\uace0 \ubbff\uc5c8\ub358 \uc2dc\ub098\ub9ac\uc624\ub294 \uc77c\uc5b4\ub098\uc9c0 \uc54a\uc558\uc2b5\ub2c8\ub2e4. \uc774 \ub9e5\ub77d\uc758 \ud2b9\uc9d5\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.
\ud604\uc7ac\uc758 \uc815\uce58\uc801 \ud504\ub9ac\ubbf8\uc5c4 \uac10\uc18c.
\ud658\uc728\uc5d0 \ub300\ud55c \uc555\ub825 \uac10\uc18c.
\uc2e4\uc9c8 \uae08\ub9ac\ub294 10\uc6d4 \uc804\uad6d \uc120\uac70 \uc774\uc804\uc5d0 \ud558\ub77d\ud558\uae30 \uc2dc\uc791\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.
\ub9e4\uc6b0 \ub192\uc740 \uc2e4\uc9c8 \uae08\ub9ac\uc758 \uc7ac\uc815\uc801 \uc601\ud5a5\uc774 \uadf8\ub807\uac8c \ud574\ub86d\uc9c0 \uc54a\uc744 \uac83\uc785\ub2c8\ub2e4.
\uacbd\uc81c \ud65c\ub3d9\uc740 4\ubd84\uae30\uc5d0 \uae0d\uc815\uc801\uc778 \ucd94\uc138\ub97c \uc7ac\uac1c\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.
\ud658\uc728\uc774 \ud658\uc728 \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120\uc5d0 \ub3c4\ub2ec\ud558\uc9c0 \uc54a\uc73c\ubbc0\ub85c \uc678\ud658 \uc900\ube44\uae08\uc774 \ud76c\uc0dd\ub418\uc9c0 \uc54a\uc744 \uac83\uc785\ub2c8\ub2e4.
\uc774\ub294 LLA\uc640 \uadf8 \ub3d9\ub9f9\uc758 \ucd1d\uc120 \uc2b9\ub9ac \uac00\ub2a5\uc131\uc5d0 \uc720\ub9ac\ud55c \uada4\ub3c4\ub97c \uc720\uc9c0\ud560 \uac83\uc785\ub2c8\ub2e4.
\uc2dc\ub098\ub9ac\uc624 2: \ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 \uc555\ub3c4\uc801\uc778 \uc2b9\ub9ac
\ud604\uc2e4\uc774 \ub41c \uc2dc\ub098\ub9ac\uc624\uc785\ub2c8\ub2e4. \uc774 \ub9e5\ub77d\uc758 \ud2b9\uc9d5\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.
\ub192\uc740 \uc815\uce58\uc801 \ud504\ub9ac\ubbf8\uc5c4 \uc9c0\uc18d.
\ud589\uc815\ubd80\uac00 \ub354 \ub192\uc740 \uc2e4\uc9c8 \uae08\ub9ac\ub85c \ubc18\uc751\ud560 \uc5ec\uc9c0 \uac10\uc18c.
\ud658\uc728\uc774 \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120\uc5d0 \ub3c4\ub2ec\ud560 \uac00\ub2a5\uc131\uc774 \ub192\uc74c.
\ud398\uc18c \ud761\uc218\ub97c \uc704\ud574 \uad6d\uc81c \uc900\ube44\uae08 \uc190\uc2e4 \ubc1c\uc0dd.
\uc2e4\uc9c8 \uae08\ub9ac\uac00 \uc900\ube44\uae08 \uc18c\uc9c4\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \ud558\ub77d\ud558\uc9c0 \uc54a\uc73c\ubbc0\ub85c \uacbd\uc81c \ud65c\ub3d9\uc774 \ub354 \ud070 \ud0c0\uaca9\uc744 \uc785\uc74c.
\uc7ac\uc815 \uacc4\uc815\uc5d0 \ub300\ud55c \ub354 \ud070 \uc555\ub825.
\ubb34\uc5ed \ud751\ub300 \uc99d\ub300\uc640 \uac00\uacc4\uc758 \ub2ec\ub7ec \uc218\uc694 \uac10\uc18c\ub97c \ubcf4\uc7a5\ud558\uae30 \uc704\ud574 \uc2e4\uc9c8 \ud658\uc728\uc774 \ub354 \ub0ae\uc740 \uc218\uc900\uc5d0\uc11c \uc548\uc815\ub418\uc5b4\uc57c \ud560 \ud544\uc694\uc131.
2026\ub144 \uc2dc\uc7a5 \ubd80\ucc44 \uc9c0\ubd88\uc744 \uc2dc\uc7a5 \uc811\uadfc\uc744 \uae30\ub2e4\ub9ac\uc9c0 \uc54a\uace0 \ubcf4\uc7a5\ud558\ub824\uace0 \ud568.
\uc774 \uc2dc\ub098\ub9ac\uc624\ub294 \ud22c\ud45c\uc728\uc774 \ub9e4\uc6b0 \ub0ae\uc740 \uacbd\uc6b0(\u226450%)\ub97c \uc81c\uc678\ud558\uace0\ub294 \ub0ae\uc740 \ud655\ub960\uc744 \uac00\uc9d1\ub2c8\ub2e4.
\uc544\ub974\ud5e8\ud2f0\ub098 \ub300\ud1b5\ub839 \ud558\ube44\uc5d0\ub974 \ubc00\ub808\uc774\uc640 \uadf8\uc758 \uc5ec\ub3d9\uc0dd\uc774\uc790 \ub300\ud1b5\ub839 \ube44\uc11c\uc2e4\uc7a5\uc778 \uce74\ub9ac\ub098 \ubc00\ub808\uc774\uac00 2025\ub144 8\uc6d4 27\uc77c \uc218\uc694\uc77c \uc544\ub974\ud5e8\ud2f0\ub098 \ub85c\ub9c8\uc2a4 \ub370 \uc0ac\ubaa8\ub77c\uc5d0\uc11c \uc5f4\ub9b0 \uc9c0\ubc29 \uc758\ud68c \uc120\uac70 \uc804 \uc9d1\ud68c\uc5d0 \ucc38\uc11d\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. (AP \uc0ac\uc9c4\/\ub098\ud0c0\ucc28 \ud53c\uc0ac\ub80c\ucf54)
\uad6d\uc81c \uc900\ube44\uae08\uc5d0 \ub300\ud574, JP Morgan\uc740 \uc774 \uc2dc\ub098\ub9ac\uc624\uc5d0\uc11c \uacf5\uc2dd \ub2ec\ub7ec\uac00 \ud658\uc728 \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120(9\uc6d4\uacfc 10\uc6d4\uc5d0 \uac01\uac01 $1,479.77 \ubc0f $1,495.54)\uc5d0 \ub3c4\ub2ec\ud558\uae30 \uc5b4\ub835\uae30 \ub54c\ubb38\uc5d0 \uac15\ub825\ud55c \ud658\uc728 \uac1c\uc785\uc774 \ud544\uc694\ud558\uc9c0 \uc54a\uc744 \uac83\uc774\ub77c\uace0 \ud3c9\uac00\ud588\uc2b5\ub2c8\ub2e4. \ubcf4\uace0\uc11c\ub294 “\uc555\ub825\uc774 \uc644\ud654\ub418\uba74, \uc900\ube44\uae08\uc744 \uc783\uc744 \ud544\uc694\uac00 \uc5c6\uc744 \uac83”\uc774\ub77c\uace0 \uac15\uc870\ud588\uc2b5\ub2c8\ub2e4.
\uc8fc\uc694 \ubcc0\uc218: \uc778\ud50c\ub808\uc774\uc158, \uc784\uae08 \ubc0f \uc900\ube44\uae08
JP Morgan\uc740 \uc778\ud50c\ub808\uc774\uc158\uc5d0 \ub300\ud55c \ucd5c\uadfc \ub370\uc774\ud130\ub97c \ud3ec\ud568\ud558\uba70, \uc18c\ube44\uc790 \ubb3c\uac00 \uc9c0\uc218\uac00 2023\ub144 12\uc6d4 \uc6d4\uac04 25%\uc5d0\uc11c \uc62c\ud574 7\uc6d4 1.9%\ub85c \ud06c\uac8c \ub454\ud654\ub418\uc5c8\ub2e4\uace0 \uac15\uc870\ud588\uc2b5\ub2c8\ub2e4. 8\uc6d4\uc758 \ubcc0\ub3d9\uc131\uacfc \uadf8 \ub2ec \ud398\uc18c\uc758 \ud3c9\uade0 5% \ud3c9\uac00 \uc808\ud558\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0, \ud575\uc2ec \uc778\ud50c\ub808\uc774\uc158\uc740 \uc6d4\uac04 1.7%\ub85c \uc608\uc0c1\ub418\uc5c8\uc2b5\ub2c8\ub2e4.
\uc774 \uae30\uad00\uc740 \uc9c0\ub09c 15\ub144\uacfc \ube44\uad50\ud558\uc5ec “\ud658\uc728 \uae09\ub4f1\uc758 \ubb3c\uac00 \uc804\uac00 \ud6a8\uacfc\uac00 \uc81c\ud55c\uc801”\uc774\ub77c\uace0 \uc5b8\uae09\ud588\uc2b5\ub2c8\ub2e4. \uc774\ub7ec\ud55c \ud604\uc0c1\uc740 \uc218\uc785 \uc81c\ud55c \ud574\uc81c \ud6c4 \uae00\ub85c\ubc8c \uacbd\uc7c1 \uc99d\uac00\uc640 \uae34\ucd95 \uc7ac\uc815 \ubc0f \ud1b5\ud654 \uc815\ucc45\uc758 \uc601\ud5a5 \ub54c\ubb38\uc774\ub77c\uace0 \uc124\uba85\ub418\uc5c8\uc2b5\ub2c8\ub2e4.
\uc784\uae08\uc5d0 \uad00\ud574, \ubcf4\uace0\uc11c\ub294 11\uc6d4 \uc774\ud6c4 \uad6c\ub9e4\ub825\uc774 \ud3c9\uade0 2.6% \uac1c\uc120\ub418\uc5c8\uc9c0\ub9cc, \ubd80\ubb38\ubcc4\ub85c \ubd88\uade0\ub4f1\ud55c \ud589\ub3d9\uc744 \ubcf4\uc600\ub2e4\uace0 \ubc1d\ud614\uc2b5\ub2c8\ub2e4. \ube44\uacf5\uc2dd \ubd80\ubb38\uc740 \uc791\ub144 \ub9d0 \ub300\ube44 55% \uc99d\uac00\ud558\uba70 \ud68c\ubcf5\uc744 \uc8fc\ub3c4\ud588\uc73c\uba70, \ud3c9\uade0 \uc5f0\uae08\uc740 2023\ub144 11\uc6d4\uc5d0 \ube44\ud574 \uc2e4\uc9c8\uc801\uc73c\ub85c 35% \uc99d\uac00\ud558\uc5ec 2016\ub144 \ubc0f 2017\ub144 \ud3c9\uade0\uacfc \ub3d9\ub4f1\ud588\uc2b5\ub2c8\ub2e4. \uc740\ud589\uc740 \ucd5c\uadfc \uc5f0\uae08 \uc218\uae09\uc790\ub97c \uc704\ud55c \ud61c\ud0dd \ud504\ub85c\uadf8\ub7a8(\uc288\ud37c\ub9c8\ucf13 \ud560\uc778 \ubc0f \uacc4\uc88c \uc794\uc561\uc5d0 \ub300\ud55c \uc77c\uc77c \uc774\uc790 \uc9c0\uae09)\uc758 \uc2dc\ud589\uc744 \uac15\uc870\ud588\uc2b5\ub2c8\ub2e4.
\ud658\uc728 \ubcc0\ub3d9\uc131\uacfc \uc900\ube44\uae08\uc5d0 \ub300\ud55c \ub3c4\uc804
JP Morgan \ubcf4\uace0\uc11c\ub294 \uc120\uac70 \uc774\uc804 \ub450 \ub2ec \ub3d9\uc548 \uc544\ub974\ud5e8\ud2f0\ub098 \uae08\uc735 \uc2dc\uc7a5\uc774 \uac15\ud55c \ub2ec\ub7ec \uc218\uc694\uc640 \ud1b5\ud654 \uc815\ucc45 \ubcc0\ud654\ub85c \uc778\ud574 \ubcc0\ub3d9\uc131\uc774 \ucd5c\uace0\uc870\uc5d0 \ub2ec\ud588\ub2e4\uace0 \uac15\uc870\ud588\uc2b5\ub2c8\ub2e4. 7\uc6d4 LeFIs \uc81c\uac70 \ud6c4, \uba85\uc2dc\uc801\uc778 \ud1b5\ud654 \uc815\ucc45 \uae30\uc900\uc758 \ubd80\uc7ac\ub85c \uc778\ud574 \ub2e8\uae30 \uae08\ub9ac\uac00 \ub354 \uc608\uce21 \ubd88\uac00\ub2a5\ud574\uc84c\uc2b5\ub2c8\ub2e4. \ub354 \ud070 \ubc18\uac10\uc758 \uc6d0\uc778\uc73c\ub85c, \uc740\ud589\uc740 “\ubc00\ub808\uc774 \uc8fc\ubcc0 \ud658\uacbd\uc5d0 \ub300\ud55c \ubd80\ud328 \ud610\uc758, \uac70\ubd80\ub41c \uc7ac\uc815 \ubc95\ub960\uc5d0 \ub300\ud55c \uc6b0\uc720\ubd80\ub2e8\ud568, \uc2e0\ub8b0 \uc545\ud654”\ub97c \uc5b8\uae09\ud588\uc2b5\ub2c8\ub2e4.
JP Morgan\uc774 \ub0ae\uc740 \ud655\ub960\uc744 \ubd80\uc5ec\ud55c \ub300\uccb4 \uc2dc\ub098\ub9ac\uc624\ub294 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4\uc5d0\uc11c \ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 “\uc555\ub3c4\uc801\uc778 \uc2b9\ub9ac”\uc600\ub2e4.
JP Morgan\uc740 \uacf5\uc2dd \uccb4\uc81c\uc758 \uac00\uc7a5 \ud070 \uc57d\uc810\uc774 \uad6d\uc81c \uc900\ube44\uae08 \ucd95\uc801\uc758 \uc5b4\ub824\uc6c0\uc5d0 \uc788\ub2e4\uace0 \uc9c0\uc801\ud588\uc73c\uba70, \uc774\ub294 \uc774 \ubaa9\ud45c\ubcf4\ub2e4 \uc778\ud50c\ub808\uc774\uc158 \ud558\ub77d\uc744 \uc6b0\uc120\uc2dc\ud588\uae30 \ub54c\ubb38\uc774\ub77c\uace0 \uc5b8\uae09\ud588\uc2b5\ub2c8\ub2e4. 4\uc6d4\uacfc 7\uc6d4 \uc0ac\uc774\uc5d0 \uc21c \ubbfc\uac04 \ub2ec\ub7ec \uc218\uc694\ub294 94\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud588\uc73c\uba70, \uc774\ub294 \uc774\uc804\uc758 \ub2ec\ub7ec \ube14\ub80c\ub4dc \uacc4\ud68d\uc73c\ub85c \uc778\ud55c \ud76c\uc0dd\uc744 78\uc5b5 \ub2ec\ub7ec \uc774\uc0c1 \ucd08\uacfc\ud588\uc2b5\ub2c8\ub2e4. \uc120\uac70 \ud6c4 \uc8fc\uc694 \uacfc\uc81c\ub294 \ub514\uc2a4\uc778\ud50c\ub808\uc774\uc158\uc744 \uc704\ud5d8\uc5d0 \ube60\ub728\ub9ac\uc9c0 \uc54a\uace0 \uc900\ube44\uae08\uc744 \uc7ac\uad6c\uc131\ud560 \uc218 \uc788\ub294 \ud658\uc728\uacfc \uae08\ub9ac \uac04\uc758 \uade0\ud615\uc744 \ucc3e\ub294 \uac83\uc774\uc5c8\uc2b5\ub2c8\ub2e4.
\uc2dc\uc7a5, \ud22c\uc790 \ubc0f \uc0ac\ud68c\uc801 \ubd84\uc704\uae30
\uc774 \uc740\ud589\uc740 \ud398\uc18c “\uce90\ub9ac \ud2b8\ub808\uc774\ub4dc”\uac00 \uc2e0\ud765 \uc2dc\uc7a5 \uc911 \uac00\uc7a5 \uc218\uc775\uc131\uc774 \ub192\uc740 \uac83 \uc911 \ud558\ub098\ub85c \ub098\ud0c0\ub0ac\uc73c\uba70, 3\uac1c\uc6d4 \uc218\uc775\ub960\uc774 \uc5f0 55%(\uc2e4\uc9c8 41%)\ub77c\uace0 \uac15\uc870\ud588\uc2b5\ub2c8\ub2e4. \uad8c\uc7a5\ub418\ub294 \uc0c1\ud488 \uc911\uc5d0\ub294 \uae08\ub9ac\uac00 \ud558\ub77d\ud558\uac70\ub098 \ub192\uc740 \uc218\uc900\uc744 \uc720\uc9c0\ud560 \uacbd\uc6b0 \uc774\uc810\uc744 \uc81c\uacf5\ud558\ub294 BONTAM\uc774 \uc788\uc2b5\ub2c8\ub2e4. \ubcf4\uc218\uc801\uc778 \ud22c\uc790\uc790\uc5d0\uac8c\ub294 LECAP \ub610\ub294 BONCAP\uc744 \uac15\uc870\ud588\uc73c\uba70, NDF\ub97c \ud1b5\ud574 \ub2ec\ub7ec \ud5e4\uc9c0\ub97c \ub2ec\uc131\ud558\uc5ec \ud658\uc728 \uc704\ud5d8\uc5d0 \ub178\ucd9c\ub418\uc9c0 \uc54a\uace0 \ucc28\uc775\uc744 \uc5bb\uc744 \uc218 \uc788\ub2e4\uace0 \uc5b8\uae09\ud588\uc2b5\ub2c8\ub2e4.
\uc0ac\ud68c\uc801\uc73c\ub85c, \ubc00\ub808\uc774 \uc815\ubd80\uc5d0 \ub300\ud55c \uc2e0\ub8b0\ub3c4\ub294 8\uc6d4\uc5d0 UTDT \uc9c0\uc218\uc5d0\uc11c 6\ud3ec\uc778\ud2b8 \ud558\ub77d\ud55c 42.4\ub85c \uae09\uaca9\ud788 \ub5a8\uc5b4\uc84c\uc2b5\ub2c8\ub2e4. \uc774 \uc218\uce58\ub294 \ub9c8\ud06c\ub9ac \uc815\ubd80\uc758 \uac19\uc740 \uae30\uac04\ubcf4\ub2e4 \ub0ae\uc9c0\ub9cc, \uc54c\ubca0\ub974\ud1a0 \ud398\ub974\ub09c\ub370\uc2a4\uc640 \ud06c\ub9ac\uc2a4\ud2f0\ub098 \ud0a4\ub974\uce58\ub124\ub974 \uc815\ubd80 \ub3d9\uc548 \uae30\ub85d\ub41c \ub370\uc774\ud130\ubcf4\ub2e4\ub294 5\ud3ec\uc778\ud2b8 \ub192\uc2b5\ub2c8\ub2e4. \uc18c\ube44\uc790 \uc2e0\ub8b0\ub3c4\ub3c4 \ud558\ub77d\ud588\uc73c\uba70, \ud2b9\ud788 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4\uc5d0\uc11c \uadf8\ub7ac\uc9c0\ub9cc, \ub0b4\ub959\uc5d0\uc11c\ub294 \uc5ed\uc0ac\uc801 \ud3c9\uade0\ubcf4\ub2e4 4% \ub192\uac8c \uc720\uc9c0\ub418\uc5c8\uc2b5\ub2c8\ub2e4. \uc2e0\ub8b0\ub3c4 \ud558\ub77d\uc740 \uac1c\uc778\uc801 \uc778\uc2dd\uacfc \uc77c\ubc18\uc801\uc778 \uae30\ub300 \ubc0f \ub0b4\uad6c\uc7ac \uc18c\ube44 \uae30\ub300\uc5d0 \ubaa8\ub450 \uc601\ud5a5\uc744 \ubbf8\ucce4\uc2b5\ub2c8\ub2e4.
\ucc44\uad8c \ubc0f \uc804\ub9dd
\ucc44\uad8c\uc5d0 \uad00\ud574, JP Morgan\uc740 \ucd5c\uadfc \uba87 \ub2ec \ub3d9\uc548 \uc544\ub974\ud5e8\ud2f0\ub098\uac00 900bp \uc774\uc0c1\uc758 \uc2a4\ud504\ub808\ub4dc\uc640 13% \uc774\uc0c1\uc758 \uc218\uc775\ub960\uc744 \uae30\ub85d\ud558\uba70, \ub2e4\ub978 \uc2e0\ud765 \uc2dc\uc7a5\uacfc \uc810\uc810 \ub354 \ud070 \uaca9\ucc28\ub97c \ubcf4\uc774\uace0 \uc788\ub2e4\uace0 \uad00\ucc30\ud588\uc2b5\ub2c8\ub2e4. \uc815\uce58\uc801 \uc548\uc815\ud654\uc640 \uc7ac\uc815 \ud504\ub85c\uadf8\ub7a8\uc758 \uc9c0\uc18d\uc740 \uc740\ud589\uc5d0\uac8c \uc548\ub3c4\uac10\uc744 \uc904 \uc218 \uc788\ub294 \ud544\uc218\uc801\uc778 \uc870\uac74\uc785\ub2c8\ub2e4.
JP Morgan\uc740 “\uc815\uce58\uc801 \uc704\ud5d8\uacfc \ubcc0\ub3d9\uc131\uc774 \ud575\uc2ec \ubcc0\uc218\ub85c \uc6b0\uc138\ud558\uba70, \ud658\uc728\uacfc \uae08\ub9ac\uc758 \uc9c4\ud654\ub294 \uc120\uac70 \uac1c\ud45c \ud6c4 \ubd88\uc548\uc815\uc131\uc774 \uc2ec\ud654\ub418\ub294 \uac83\uc744 \ud53c\ud558\ub294 \ub370 \ud06c\uac8c \uc758\uc874\ud560 \uac83”\uc774\ub77c\uace0 \uacb0\ub860\uc9c0\uc5c8\uc2b5\ub2c8\ub2e4.

\uae09\ud558\uac8c AI \ub85c \ubc88\uc5ed\ud55c \uac83 \uadf8\ub300\ub85c \uc62c\ub9bd\ub2c8\ub2e4..<\/p>\n\n\n\n


\uc6d0\ubb38\ubcf4\uae30 : https:\/\/www.infobae.com\/economia\/2025\/09\/08\/que-decia-sobre-el-dolar-y-las-tasas-el-informe-de-jp-morgan-si-se-registraba-una-victoria-arrolladora-del-kirchnerismo\/<\/a>
<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

\ubbf8\uad6d \ud22c\uc790\uc740\ud589\uc740 \uc544\ub974\ud5e8\ud2f0\ub098 \ucd5c\ub300 \uc120\uac70\uad6c\uc5d0\uc11c \ubc1c\uc0dd\ud560 \uc218 \uc788\ub294 \uc7a0\uc7ac\uc801 \uacb0\uacfc\ub97c \uace0\ub824\ud588\uc2b5\ub2c8\ub2e4. \uc5b4\ub5a4 \uc608\uce21\uc774 \ub0a8\uc544\uc788\ub294\uac00? \uc77c\uc694\uc77c \uc544\ub974\ud5e8\ud2f0\ub098 \ucd5c\ub300 \uc120\uac70\uad6c\uc778 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc8fc \uc120\uac70\ub97c \uc55e\ub450\uace0, \ubbf8\uad6d \ucd5c\ub300 \uc740\ud589\uc778 JP Morgan\uc740 \uc120\uac70 \uacb0\uacfc\uc5d0 \ub530\ub77c \uc6d4\uc694\uc77c\ubd80\ud130 \ub2ec\ub7ec, \uae08\ub9ac, \uad6d\uc81c \uc900\ube44\uae08 \ubc0f \uacbd\uc81c \ud65c\ub3d9\uc5d0 \uc5b4\ub5a4 \uc77c\uc774 \uc77c\uc5b4\ub0a0\uc9c0\uc5d0 \ub300\ud55c \ub450 \uac00\uc9c0 \uc2dc\ub098\ub9ac\uc624\ub97c \uc608\uc0c1\ud588\uc2b5\ub2c8\ub2e4.\uc815\ubd80\ub294 \ud658\uc728 \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120\uc744 \uc2dc\ud5d8\ud558\ub824\ub294 \ub2ec\ub7ec\ub97c \uc5b5\uc81c\ud558\uae30 \uc704\ud574 \uc2e0\uc18d\ud558\uac8c \ud589\ub3d9\ud574\uc57c \ud560 \uac83\uc774\ub2e4. \ucc38\uace0:\uc815\ubd80\ub294 \ud658\uc728 \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120\uc744 \uc2dc\ud5d8\ud558\ub824\ub294 \ub2ec\ub7ec\ub97c \uc5b5\uc81c\ud558\uae30 \uc704\ud574 \uc2e0\uc18d\ud558\uac8c \ud589\ub3d9\ud574\uc57c \ud560 \uac83\uc774\ub2e4.\uc624\ub298 \ubc24\uc758 \uc608\ube44 \uacb0\uacfc\ub294 \uc740\ud589\uc774 “\ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 \uc555\ub3c4\uc801\uc778 \uc2b9\ub9ac”\ub77c\uace0 \uba85\uba85\ud55c \uac83\uc744 \ubc18\uc601\ud569\ub2c8\ub2e4. \ubbf8\uad6d \uc740\ud589\uc740 \ud558\ube44\uc5d0\ub974 \ubc00\ub808\uc774 \uc815\ubd80\uac00 \ud1b5\uc81c\ud558\ub824\ub294 \ubcc0\uc218\ub4e4\uc5d0 \uc720\ub9ac\ud55c \ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 \uadfc\uc18c\ud55c \uc2b9\ub9ac\ub97c \uae30\ubcf8 \uc2dc\ub098\ub9ac\uc624\ub85c, \ud398\ub860\uc8fc\uc758 \uc5f0\ud569\uc758 \uc555\ub3c4\uc801\uc778 \uc2b9\ub9ac \uc2dc \uc544\ub974\ud5e8\ud2f0\ub098 \uacbd\uc81c\uc758 \uc5b4\ub824\uc6c0\uc744 \uac00\uc911\uc2dc\ud0ac \ub450 \ubc88\uc9f8 \uc2dc\ub098\ub9ac\uc624\ub97c \uac00\uc815\ud588\uc2b5\ub2c8\ub2e4.\uc8fc\uc694 \uc138\uacc4 \uc5b8\ub860\ub4e4\uc774 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc120\uac70\uc5d0\uc11c\uc758 \ud558\ube44\uc5d0\ub974 \ubc00\ub808\uc774\uc758 \ud328\ubc30\ub97c \ubcf4\ub3c4\ud55c \ubc29\uc2dd \ucc38\uace0:\uc8fc\uc694 \uc138\uacc4 \uc5b8\ub860\ub4e4\uc774 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc120\uac70\uc5d0\uc11c\uc758 \ud558\ube44\uc5d0\ub974 \ubc00\ub808\uc774\uc758 \ud328\ubc30\ub97c \ubcf4\ub3c4\ud55c \ubc29\uc2dd\uc815\uce58\uc801 \ubc0f \uacbd\uc81c\uc801 \uc601\ud5a5\uc774 \uae30\uad00\uc740 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc120\uac70\uac00 \ub2ec\ub7ec\uc640 \uae08\ub9ac\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce58\ub294 \uae30\ub300\uce58\uc640 \uc704\ud5d8\uc5d0 \ub300\ud55c \uc911\uc694\uc131 \ub54c\ubb38\uc5d0 \uc815\uce58\uc801 \ubc0f \uacbd\uc81c\uc801 \uad00\uc2ec\uc774 \uc9d1\uc911\ub418\uc5c8\ub2e4\uace0 \uc5b8\uae09\ud558\uba70, \uc778\ud50c\ub808\uc774\uc158 \ub370\uc774\ud130, \uc2e4\uc9c8 \uc784\uae08, \uc5f0\uae08 \ubc0f \uc5ec\ub860\uc758 \ubd84\uc704\uae30\uac00 \uc911\uc694\ud558\ub2e4\uace0 \ubcf4\uc558\uc2b5\ub2c8\ub2e4. \ub610\ud55c, \uc5ec\ub860 \uc870\uc0ac\uac00 \uc8fc\uc694 \uc5f0\ud569\ub4e4 \uac04\uc5d0 5% \ubbf8\ub9cc\uc758 \uadfc\uc18c\ud55c \ucc28\uc774\ub97c \uc608\uc0c1\ud588\uae30 \ub54c\ubb38\uc5d0, \ud22c\ud45c\uc728\uc758 \uc911\uc694\uc131\uc744 \ud3c9\uac00\ud588\uc2b5\ub2c8\ub2e4.JP Morgan\uc5d0 \ub530\ub974\uba74, \uc815\uce58\uc801 \ubd88\uc548\uc815\uc131\uacfc \ubd88\ud655\uc2e4\uc131\uc774 \uacbd\uc81c \uc0c1\ud669\ubcf4\ub2e4 \ucd5c\uadfc \uae08\uc735 \uc2dc\uc7a5 \ubcc0\ub3d9\uc758 \uc6d0\uc778\uc774\uc5c8\uc73c\uba70, “\uc815\uce58\uc801 \uc704\ud5d8\uc774 \ud604\uc7ac\uc758 \uac70\uc2dc\uacbd\uc81c \ud504\ub85c\uadf8\ub7a8\uc758 \uc18c\uc9c4\uc774 \uc544\ub2cc, \uc8fc\uc694 \ud604\uc9c0 \ubcc0\ub3d9\uc131\uc758 \uc6d0\uc778\uc774\uc5c8\ub2e4. \uc120\uac70\ub97c \uadf9\ubcf5\ud558\ub294 \uac83\uc774 \uc548\uc815\uc131\uc744 \ud68c\ubcf5\ud558\ub294 \ub370 \ub3c4\uc6c0\uc774 \ub420 \uac83\uc774\ub2e4”\ub77c\uace0 \ub9d0\ud588\uc2b5\ub2c8\ub2e4.\ub2ec\ub7ec: \uc815\ubd80\ub294 \uc0c8\ub85c\uc6b4 \ud658\uc728 \uae34\uc7a5\uc5d0 \uc5b4\ub5bb\uac8c \ub300\ucc98\ud560 \uac83\uc778\uac00? \ucc38\uace0:\ub2ec\ub7ec: \uc815\ubd80\ub294 \uc0c8\ub85c\uc6b4 \ud658\uc728 \uae34\uc7a5\uc5d0 \uc5b4\ub5bb\uac8c \ub300\ucc98\ud560 \uac83\uc778\uac00?\ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc120\uac70\uc758 \uc7a0\uc7ac\uc801 \uc601\ud5a5\uc5d0 \ub300\ud55c J.P.Morgan\uc758 \ubd84\uc11d \uccab \ud398\uc774\uc9c0\ud558\uc9c0\ub9cc 4\uc6d4\uc758 \ud658\uc728 \ud1b5\uc81c \ud574\uc81c \uc774\ud6c4 “\uc720\ub3d9\uc131 \ubcc0\ub3d9\uc774 \ud658\uc728\uc5d0 \uac15\ud558\uac8c \uc601\ud5a5\uc744 \ubbf8\ucce4\uc73c\uba70, \uc774\ub294 \uacbd\uc81c\ud300\uc774 \uc8fc\uc694 \ubaa9\ud45c\uc778 \ub514\uc2a4\uc778\ud50c\ub808\uc774\uc158\uc744 \uc704\ud574 \uc81c\ud55c\uc801\uc778 \uc870\uac74\uc744 \uc720\uc9c0\ud558\ub3c4\ub85d \uac15\uc81c\ud588\ub2e4”\uace0 \uc9c0\uc801\ud588\uc2b5\ub2c8\ub2e4. JP Morgan\uc740 \uc774\ub7ec\ud55c \uc804\ub7b5\uc774 \ub2e8\uae30\uc801\uc73c\ub85c \uc720\uc9c0\ub420 \uac83\uc774\ub77c\uace0 \uc608\uc0c1\ud588\uc2b5\ub2c8\ub2e4.\ub300\uccb4 \uc2dc\ub098\ub9ac\uc624: \ud398\ub860\uc8fc\uc758\uc758 \uba85\ud655\ud55c \uc2b9\ub9acJP Morgan\uc774 \ub0ae\uc740 \ud655\ub960\uc744 \ubd80\uc5ec\ud588\ub358 “\ub300\uccb4 \uc2dc\ub098\ub9ac\uc624”\ub294 \ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 “\uc555\ub3c4\uc801\uc778 \uc2b9\ub9ac”\uc600\uc2b5\ub2c8\ub2e4. \uacb0\uad6d \uc774 \uc2dc\ub098\ub9ac\uc624\uac00 \ud604\uc2e4\uc774 \ub418\uc5c8\uc2b5\ub2c8\ub2e4.\uc774 \uacbd\uc6b0 \ub192\uc740 \uc704\ud5d8 \ud504\ub9ac\ubbf8\uc5c4\uc774 \ub2ec\ub7ec\ub97c \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120\uc73c\ub85c \ubc00\uc5b4\ubd99\uc774\uace0, \uc911\uc559\uc740\ud589\uc774 \ud398\uc18c \uc720\ub3d9\uc131\uc744 \ud761\uc218\ud558\uae30 \uc704\ud574 \uc900\ube44\uae08\uc744 \ub9e4\uac01\ud558\ub3c4\ub85d \uac15\uc81c\ud560 \uac83\uc785\ub2c8\ub2e4. \ub610\ud55c, \uc815\ubd80\ub294 \ub192\uc740 \uc218\uc900\uc758 \uc2e4\uc9c8 \uae08\ub9ac\ub97c \uc720\uc9c0\ud574\uc57c \ud558\uba70, \uc774\ub294 \uacbd\uc81c \ud65c\ub3d9\uacfc \uc7ac\uc815 \uacc4\uc815\uc5d0 \ubd80\uc815\uc801\uc778 \uc601\ud5a5\uc744 \uc2ec\ud654\uc2dc\ud0ac \uac83\uc785\ub2c8\ub2e4. \uc545\uc140 \ud0a4\uc2e4\ub85c\ud504 \uc8fc\uc9c0\uc0ac\uac00 \uc624\ub298 \uc911\uac04 \uc120\uac70\uc5d0\uc11c \ud22c\ud45c\ud588\ub2e4 (\uc0ac\uc9c4: AFP)\uc774 \uae30\uad00\uc740 \ubb34\uc5ed \ud751\uc790\ub97c \uc790\uadf9\ud558\uace0 \uac00\uacc4\uc758 \ub2ec\ub7ec \uc218\uc694\ub97c \uc5b5\uc81c\ud558\uae30 \uc704\ud574 \uc2e4\uc9c8 \ud658\uc728\uc774 \ub354 \ub0ae\uc740 \uc218\uc900\uc5d0\uc11c \uc548\uc815\ub418\uc5b4\uc57c \ud55c\ub2e4\uace0 \ucd94\uc815\ud558\uba70, \uc774\ub97c \ud1b5\ud574 2026\ub144 \ucd08\uc5d0 \uc608\uc0c1\ub418\ub294 \ubd80\ucc44 \uc11c\ube44\uc2a4 \uc9c0\ubd88(43\uc5b5 \ub2ec\ub7ec)\uc744 \ubcf4\uc7a5\ud560 \uc218 \uc788\ub2e4\uace0 \uc5b8\uae09\ud588\uc2b5\ub2c8\ub2e4. “\ud22c\ud45c\uc728\uc774 \ub9e4\uc6b0 \ub0ae\uc9c0 \uc54a\uc740 \ud55c(50% \uc774\ud558), \uc6b0\ub9ac\ub294 \uc774 \uc2dc\ub098\ub9ac\uc624\uc5d0 \ub0ae\uc740 \ud655\ub960\uc744 \ubd80\uc5ec\ud55c\ub2e4”\uace0 \ubcf4\uace0\uc11c\ub294 \uacb0\ub860\uc9c0\uc5c8\uc2b5\ub2c8\ub2e4.\uc694\uc57d\ud558\uc790\uba74, \ud22c\uc790\uc740\ud589\uc740 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc120\uac70 \ud6c4 \uae08\uc735 \ubcc0\uc218\ub4e4\uc744 \ub2e4\uc74c\uacfc \uac19\uc774 \ubd05\ub2c8\ub2e4.\uc2dc\ub098\ub9ac\uc624 1: \ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 \uadfc\uc18c\ud55c \uc6b0\uc138(\u22645% \ucc28\uc774) \ub610\ub294 LLA\uc758 \uc2b9\ub9ac.JP Morgan\uc774 \ud655\uc2e4\ud558\ub2e4\uace0 \ubbff\uc5c8\ub358 \uc2dc\ub098\ub9ac\uc624\ub294 \uc77c\uc5b4\ub098\uc9c0 \uc54a\uc558\uc2b5\ub2c8\ub2e4. \uc774 \ub9e5\ub77d\uc758 \ud2b9\uc9d5\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.\ud604\uc7ac\uc758 \uc815\uce58\uc801 \ud504\ub9ac\ubbf8\uc5c4 \uac10\uc18c.\ud658\uc728\uc5d0 \ub300\ud55c \uc555\ub825 \uac10\uc18c.\uc2e4\uc9c8 \uae08\ub9ac\ub294 10\uc6d4 \uc804\uad6d \uc120\uac70 \uc774\uc804\uc5d0 \ud558\ub77d\ud558\uae30 \uc2dc\uc791\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.\ub9e4\uc6b0 \ub192\uc740 \uc2e4\uc9c8 \uae08\ub9ac\uc758 \uc7ac\uc815\uc801 \uc601\ud5a5\uc774 \uadf8\ub807\uac8c \ud574\ub86d\uc9c0 \uc54a\uc744 \uac83\uc785\ub2c8\ub2e4.\uacbd\uc81c \ud65c\ub3d9\uc740 4\ubd84\uae30\uc5d0 \uae0d\uc815\uc801\uc778 \ucd94\uc138\ub97c \uc7ac\uac1c\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.\ud658\uc728\uc774 \ud658\uc728 \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120\uc5d0 \ub3c4\ub2ec\ud558\uc9c0 \uc54a\uc73c\ubbc0\ub85c \uc678\ud658 \uc900\ube44\uae08\uc774 \ud76c\uc0dd\ub418\uc9c0 \uc54a\uc744 \uac83\uc785\ub2c8\ub2e4.\uc774\ub294 LLA\uc640 \uadf8 \ub3d9\ub9f9\uc758 \ucd1d\uc120 \uc2b9\ub9ac \uac00\ub2a5\uc131\uc5d0 \uc720\ub9ac\ud55c \uada4\ub3c4\ub97c \uc720\uc9c0\ud560 \uac83\uc785\ub2c8\ub2e4.\uc2dc\ub098\ub9ac\uc624 2: \ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 \uc555\ub3c4\uc801\uc778 \uc2b9\ub9ac\ud604\uc2e4\uc774 \ub41c \uc2dc\ub098\ub9ac\uc624\uc785\ub2c8\ub2e4. \uc774 \ub9e5\ub77d\uc758 \ud2b9\uc9d5\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.\ub192\uc740 \uc815\uce58\uc801 \ud504\ub9ac\ubbf8\uc5c4 \uc9c0\uc18d.\ud589\uc815\ubd80\uac00 \ub354 \ub192\uc740 \uc2e4\uc9c8 \uae08\ub9ac\ub85c \ubc18\uc751\ud560 \uc5ec\uc9c0 \uac10\uc18c.\ud658\uc728\uc774 \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120\uc5d0 \ub3c4\ub2ec\ud560 \uac00\ub2a5\uc131\uc774 \ub192\uc74c.\ud398\uc18c \ud761\uc218\ub97c \uc704\ud574 \uad6d\uc81c \uc900\ube44\uae08 \uc190\uc2e4 \ubc1c\uc0dd.\uc2e4\uc9c8 \uae08\ub9ac\uac00 \uc900\ube44\uae08 \uc18c\uc9c4\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \ud558\ub77d\ud558\uc9c0 \uc54a\uc73c\ubbc0\ub85c \uacbd\uc81c \ud65c\ub3d9\uc774 \ub354 \ud070 \ud0c0\uaca9\uc744 \uc785\uc74c.\uc7ac\uc815 \uacc4\uc815\uc5d0 \ub300\ud55c \ub354 \ud070 \uc555\ub825.\ubb34\uc5ed \ud751\ub300 \uc99d\ub300\uc640 \uac00\uacc4\uc758 \ub2ec\ub7ec \uc218\uc694 \uac10\uc18c\ub97c \ubcf4\uc7a5\ud558\uae30 \uc704\ud574 \uc2e4\uc9c8 \ud658\uc728\uc774 \ub354 \ub0ae\uc740 \uc218\uc900\uc5d0\uc11c \uc548\uc815\ub418\uc5b4\uc57c \ud560 \ud544\uc694\uc131.2026\ub144 \uc2dc\uc7a5 \ubd80\ucc44 \uc9c0\ubd88\uc744 \uc2dc\uc7a5 \uc811\uadfc\uc744 \uae30\ub2e4\ub9ac\uc9c0 \uc54a\uace0 \ubcf4\uc7a5\ud558\ub824\uace0 \ud568.\uc774 \uc2dc\ub098\ub9ac\uc624\ub294 \ud22c\ud45c\uc728\uc774 \ub9e4\uc6b0 \ub0ae\uc740 \uacbd\uc6b0(\u226450%)\ub97c \uc81c\uc678\ud558\uace0\ub294 \ub0ae\uc740 \ud655\ub960\uc744 \uac00\uc9d1\ub2c8\ub2e4.\uc544\ub974\ud5e8\ud2f0\ub098 \ub300\ud1b5\ub839 \ud558\ube44\uc5d0\ub974 \ubc00\ub808\uc774\uc640 \uadf8\uc758 \uc5ec\ub3d9\uc0dd\uc774\uc790 \ub300\ud1b5\ub839 \ube44\uc11c\uc2e4\uc7a5\uc778 \uce74\ub9ac\ub098 \ubc00\ub808\uc774\uac00 2025\ub144 8\uc6d4 27\uc77c \uc218\uc694\uc77c \uc544\ub974\ud5e8\ud2f0\ub098 \ub85c\ub9c8\uc2a4 \ub370 \uc0ac\ubaa8\ub77c\uc5d0\uc11c \uc5f4\ub9b0 \uc9c0\ubc29 \uc758\ud68c \uc120\uac70 \uc804 \uc9d1\ud68c\uc5d0 \ucc38\uc11d\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. (AP \uc0ac\uc9c4\/\ub098\ud0c0\ucc28 \ud53c\uc0ac\ub80c\ucf54)\uad6d\uc81c \uc900\ube44\uae08\uc5d0 \ub300\ud574, JP Morgan\uc740 \uc774 \uc2dc\ub098\ub9ac\uc624\uc5d0\uc11c \uacf5\uc2dd \ub2ec\ub7ec\uac00 \ud658\uc728 \ubc34\ub4dc\uc758 \uc0c1\ud55c\uc120(9\uc6d4\uacfc 10\uc6d4\uc5d0 \uac01\uac01 $1,479.77 \ubc0f $1,495.54)\uc5d0 \ub3c4\ub2ec\ud558\uae30 \uc5b4\ub835\uae30 \ub54c\ubb38\uc5d0 \uac15\ub825\ud55c \ud658\uc728 \uac1c\uc785\uc774 \ud544\uc694\ud558\uc9c0 \uc54a\uc744 \uac83\uc774\ub77c\uace0 \ud3c9\uac00\ud588\uc2b5\ub2c8\ub2e4. \ubcf4\uace0\uc11c\ub294 “\uc555\ub825\uc774 \uc644\ud654\ub418\uba74, \uc900\ube44\uae08\uc744 \uc783\uc744 \ud544\uc694\uac00 \uc5c6\uc744 \uac83”\uc774\ub77c\uace0 \uac15\uc870\ud588\uc2b5\ub2c8\ub2e4.\uc8fc\uc694 \ubcc0\uc218: \uc778\ud50c\ub808\uc774\uc158, \uc784\uae08 \ubc0f \uc900\ube44\uae08JP Morgan\uc740 \uc778\ud50c\ub808\uc774\uc158\uc5d0 \ub300\ud55c \ucd5c\uadfc \ub370\uc774\ud130\ub97c \ud3ec\ud568\ud558\uba70, \uc18c\ube44\uc790 \ubb3c\uac00 \uc9c0\uc218\uac00 2023\ub144 12\uc6d4 \uc6d4\uac04 25%\uc5d0\uc11c \uc62c\ud574 7\uc6d4 1.9%\ub85c \ud06c\uac8c \ub454\ud654\ub418\uc5c8\ub2e4\uace0 \uac15\uc870\ud588\uc2b5\ub2c8\ub2e4. 8\uc6d4\uc758 \ubcc0\ub3d9\uc131\uacfc \uadf8 \ub2ec \ud398\uc18c\uc758 \ud3c9\uade0 5% \ud3c9\uac00 \uc808\ud558\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0, \ud575\uc2ec \uc778\ud50c\ub808\uc774\uc158\uc740 \uc6d4\uac04 1.7%\ub85c \uc608\uc0c1\ub418\uc5c8\uc2b5\ub2c8\ub2e4.\uc774 \uae30\uad00\uc740 \uc9c0\ub09c 15\ub144\uacfc \ube44\uad50\ud558\uc5ec “\ud658\uc728 \uae09\ub4f1\uc758 \ubb3c\uac00 \uc804\uac00 \ud6a8\uacfc\uac00 \uc81c\ud55c\uc801”\uc774\ub77c\uace0 \uc5b8\uae09\ud588\uc2b5\ub2c8\ub2e4. \uc774\ub7ec\ud55c \ud604\uc0c1\uc740 \uc218\uc785 \uc81c\ud55c \ud574\uc81c \ud6c4 \uae00\ub85c\ubc8c \uacbd\uc7c1 \uc99d\uac00\uc640 \uae34\ucd95 \uc7ac\uc815 \ubc0f \ud1b5\ud654 \uc815\ucc45\uc758 \uc601\ud5a5 \ub54c\ubb38\uc774\ub77c\uace0 \uc124\uba85\ub418\uc5c8\uc2b5\ub2c8\ub2e4.\uc784\uae08\uc5d0 \uad00\ud574, \ubcf4\uace0\uc11c\ub294 11\uc6d4 \uc774\ud6c4 \uad6c\ub9e4\ub825\uc774 \ud3c9\uade0 2.6% \uac1c\uc120\ub418\uc5c8\uc9c0\ub9cc, \ubd80\ubb38\ubcc4\ub85c \ubd88\uade0\ub4f1\ud55c \ud589\ub3d9\uc744 \ubcf4\uc600\ub2e4\uace0 \ubc1d\ud614\uc2b5\ub2c8\ub2e4. \ube44\uacf5\uc2dd \ubd80\ubb38\uc740 \uc791\ub144 \ub9d0 \ub300\ube44 55% \uc99d\uac00\ud558\uba70 \ud68c\ubcf5\uc744 \uc8fc\ub3c4\ud588\uc73c\uba70, \ud3c9\uade0 \uc5f0\uae08\uc740 2023\ub144 11\uc6d4\uc5d0 \ube44\ud574 \uc2e4\uc9c8\uc801\uc73c\ub85c 35% \uc99d\uac00\ud558\uc5ec 2016\ub144 \ubc0f 2017\ub144 \ud3c9\uade0\uacfc \ub3d9\ub4f1\ud588\uc2b5\ub2c8\ub2e4. \uc740\ud589\uc740 \ucd5c\uadfc \uc5f0\uae08 \uc218\uae09\uc790\ub97c \uc704\ud55c \ud61c\ud0dd \ud504\ub85c\uadf8\ub7a8(\uc288\ud37c\ub9c8\ucf13 \ud560\uc778 \ubc0f \uacc4\uc88c \uc794\uc561\uc5d0 \ub300\ud55c \uc77c\uc77c \uc774\uc790 \uc9c0\uae09)\uc758 \uc2dc\ud589\uc744 \uac15\uc870\ud588\uc2b5\ub2c8\ub2e4.\ud658\uc728 \ubcc0\ub3d9\uc131\uacfc \uc900\ube44\uae08\uc5d0 \ub300\ud55c \ub3c4\uc804JP Morgan \ubcf4\uace0\uc11c\ub294 \uc120\uac70 \uc774\uc804 \ub450 \ub2ec \ub3d9\uc548 \uc544\ub974\ud5e8\ud2f0\ub098 \uae08\uc735 \uc2dc\uc7a5\uc774 \uac15\ud55c \ub2ec\ub7ec \uc218\uc694\uc640 \ud1b5\ud654 \uc815\ucc45 \ubcc0\ud654\ub85c \uc778\ud574 \ubcc0\ub3d9\uc131\uc774 \ucd5c\uace0\uc870\uc5d0 \ub2ec\ud588\ub2e4\uace0 \uac15\uc870\ud588\uc2b5\ub2c8\ub2e4. 7\uc6d4 LeFIs \uc81c\uac70 \ud6c4, \uba85\uc2dc\uc801\uc778 \ud1b5\ud654 \uc815\ucc45 \uae30\uc900\uc758 \ubd80\uc7ac\ub85c \uc778\ud574 \ub2e8\uae30 \uae08\ub9ac\uac00 \ub354 \uc608\uce21 \ubd88\uac00\ub2a5\ud574\uc84c\uc2b5\ub2c8\ub2e4. \ub354 \ud070 \ubc18\uac10\uc758 \uc6d0\uc778\uc73c\ub85c, \uc740\ud589\uc740 “\ubc00\ub808\uc774 \uc8fc\ubcc0 \ud658\uacbd\uc5d0 \ub300\ud55c \ubd80\ud328 \ud610\uc758, \uac70\ubd80\ub41c \uc7ac\uc815 \ubc95\ub960\uc5d0 \ub300\ud55c \uc6b0\uc720\ubd80\ub2e8\ud568, \uc2e0\ub8b0 \uc545\ud654”\ub97c \uc5b8\uae09\ud588\uc2b5\ub2c8\ub2e4.JP Morgan\uc774 \ub0ae\uc740 \ud655\ub960\uc744 \ubd80\uc5ec\ud55c \ub300\uccb4 \uc2dc\ub098\ub9ac\uc624\ub294 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4\uc5d0\uc11c \ud0a4\ub974\uce58\ub124\ub974\uc8fc\uc758\uc758 “\uc555\ub3c4\uc801\uc778 \uc2b9\ub9ac”\uc600\ub2e4.JP Morgan\uc740 \uacf5\uc2dd \uccb4\uc81c\uc758 \uac00\uc7a5 \ud070 \uc57d\uc810\uc774 \uad6d\uc81c \uc900\ube44\uae08 \ucd95\uc801\uc758 \uc5b4\ub824\uc6c0\uc5d0 \uc788\ub2e4\uace0 \uc9c0\uc801\ud588\uc73c\uba70, \uc774\ub294 \uc774 \ubaa9\ud45c\ubcf4\ub2e4 \uc778\ud50c\ub808\uc774\uc158 \ud558\ub77d\uc744 \uc6b0\uc120\uc2dc\ud588\uae30 \ub54c\ubb38\uc774\ub77c\uace0 \uc5b8\uae09\ud588\uc2b5\ub2c8\ub2e4. 4\uc6d4\uacfc 7\uc6d4 \uc0ac\uc774\uc5d0 \uc21c \ubbfc\uac04 \ub2ec\ub7ec \uc218\uc694\ub294 94\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud588\uc73c\uba70, \uc774\ub294 \uc774\uc804\uc758 \ub2ec\ub7ec \ube14\ub80c\ub4dc \uacc4\ud68d\uc73c\ub85c \uc778\ud55c \ud76c\uc0dd\uc744 78\uc5b5 \ub2ec\ub7ec \uc774\uc0c1 \ucd08\uacfc\ud588\uc2b5\ub2c8\ub2e4. \uc120\uac70 \ud6c4 \uc8fc\uc694 \uacfc\uc81c\ub294 \ub514\uc2a4\uc778\ud50c\ub808\uc774\uc158\uc744 \uc704\ud5d8\uc5d0 \ube60\ub728\ub9ac\uc9c0 \uc54a\uace0 \uc900\ube44\uae08\uc744 \uc7ac\uad6c\uc131\ud560 \uc218 \uc788\ub294 \ud658\uc728\uacfc \uae08\ub9ac \uac04\uc758 \uade0\ud615\uc744 \ucc3e\ub294 \uac83\uc774\uc5c8\uc2b5\ub2c8\ub2e4.\uc2dc\uc7a5, \ud22c\uc790 \ubc0f \uc0ac\ud68c\uc801 \ubd84\uc704\uae30\uc774 \uc740\ud589\uc740 \ud398\uc18c “\uce90\ub9ac \ud2b8\ub808\uc774\ub4dc”\uac00 \uc2e0\ud765 \uc2dc\uc7a5 \uc911 \uac00\uc7a5 \uc218\uc775\uc131\uc774 \ub192\uc740 \uac83 \uc911 \ud558\ub098\ub85c \ub098\ud0c0\ub0ac\uc73c\uba70, 3\uac1c\uc6d4 \uc218\uc775\ub960\uc774 \uc5f0 55%(\uc2e4\uc9c8 41%)\ub77c\uace0 \uac15\uc870\ud588\uc2b5\ub2c8\ub2e4. \uad8c\uc7a5\ub418\ub294 \uc0c1\ud488 \uc911\uc5d0\ub294 \uae08\ub9ac\uac00 \ud558\ub77d\ud558\uac70\ub098 \ub192\uc740 \uc218\uc900\uc744 \uc720\uc9c0\ud560 \uacbd\uc6b0 \uc774\uc810\uc744 \uc81c\uacf5\ud558\ub294 BONTAM\uc774 \uc788\uc2b5\ub2c8\ub2e4. \ubcf4\uc218\uc801\uc778 \ud22c\uc790\uc790\uc5d0\uac8c\ub294 LECAP \ub610\ub294 BONCAP\uc744 \uac15\uc870\ud588\uc73c\uba70, NDF\ub97c \ud1b5\ud574 \ub2ec\ub7ec \ud5e4\uc9c0\ub97c \ub2ec\uc131\ud558\uc5ec \ud658\uc728 \uc704\ud5d8\uc5d0 \ub178\ucd9c\ub418\uc9c0 \uc54a\uace0 \ucc28\uc775\uc744 \uc5bb\uc744 \uc218 \uc788\ub2e4\uace0 \uc5b8\uae09\ud588\uc2b5\ub2c8\ub2e4.\uc0ac\ud68c\uc801\uc73c\ub85c, \ubc00\ub808\uc774 \uc815\ubd80\uc5d0 \ub300\ud55c \uc2e0\ub8b0\ub3c4\ub294 8\uc6d4\uc5d0 UTDT \uc9c0\uc218\uc5d0\uc11c 6\ud3ec\uc778\ud2b8 \ud558\ub77d\ud55c 42.4\ub85c \uae09\uaca9\ud788 \ub5a8\uc5b4\uc84c\uc2b5\ub2c8\ub2e4. \uc774 \uc218\uce58\ub294 \ub9c8\ud06c\ub9ac \uc815\ubd80\uc758 \uac19\uc740 \uae30\uac04\ubcf4\ub2e4 \ub0ae\uc9c0\ub9cc, \uc54c\ubca0\ub974\ud1a0 \ud398\ub974\ub09c\ub370\uc2a4\uc640 \ud06c\ub9ac\uc2a4\ud2f0\ub098 \ud0a4\ub974\uce58\ub124\ub974 \uc815\ubd80 \ub3d9\uc548 \uae30\ub85d\ub41c \ub370\uc774\ud130\ubcf4\ub2e4\ub294 5\ud3ec\uc778\ud2b8 \ub192\uc2b5\ub2c8\ub2e4. \uc18c\ube44\uc790 \uc2e0\ub8b0\ub3c4\ub3c4 \ud558\ub77d\ud588\uc73c\uba70, \ud2b9\ud788 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4\uc5d0\uc11c \uadf8\ub7ac\uc9c0\ub9cc, \ub0b4\ub959\uc5d0\uc11c\ub294 \uc5ed\uc0ac\uc801 \ud3c9\uade0\ubcf4\ub2e4 4% \ub192\uac8c \uc720\uc9c0\ub418\uc5c8\uc2b5\ub2c8\ub2e4. \uc2e0\ub8b0\ub3c4 \ud558\ub77d\uc740 \uac1c\uc778\uc801 \uc778\uc2dd\uacfc \uc77c\ubc18\uc801\uc778 \uae30\ub300 \ubc0f \ub0b4\uad6c\uc7ac \uc18c\ube44 \uae30\ub300\uc5d0 \ubaa8\ub450 \uc601\ud5a5\uc744 \ubbf8\ucce4\uc2b5\ub2c8\ub2e4.\ucc44\uad8c \ubc0f \uc804\ub9dd\ucc44\uad8c\uc5d0 \uad00\ud574, JP Morgan\uc740 \ucd5c\uadfc \uba87 \ub2ec \ub3d9\uc548 \uc544\ub974\ud5e8\ud2f0\ub098\uac00 900bp \uc774\uc0c1\uc758 \uc2a4\ud504\ub808\ub4dc\uc640 13% \uc774\uc0c1\uc758 \uc218\uc775\ub960\uc744 \uae30\ub85d\ud558\uba70, \ub2e4\ub978 \uc2e0\ud765 \uc2dc\uc7a5\uacfc \uc810\uc810 \ub354 \ud070 \uaca9\ucc28\ub97c \ubcf4\uc774\uace0 \uc788\ub2e4\uace0 \uad00\ucc30\ud588\uc2b5\ub2c8\ub2e4. \uc815\uce58\uc801 \uc548\uc815\ud654\uc640 \uc7ac\uc815 \ud504\ub85c\uadf8\ub7a8\uc758 \uc9c0\uc18d\uc740 \uc740\ud589\uc5d0\uac8c \uc548\ub3c4\uac10\uc744 \uc904 \uc218 \uc788\ub294 \ud544\uc218\uc801\uc778 \uc870\uac74\uc785\ub2c8\ub2e4.JP Morgan\uc740 “\uc815\uce58\uc801 \uc704\ud5d8\uacfc \ubcc0\ub3d9\uc131\uc774 \ud575\uc2ec \ubcc0\uc218\ub85c \uc6b0\uc138\ud558\uba70, \ud658\uc728\uacfc \uae08\ub9ac\uc758 \uc9c4\ud654\ub294 \uc120\uac70 \uac1c\ud45c \ud6c4 \ubd88\uc548\uc815\uc131\uc774 \uc2ec\ud654\ub418\ub294 \uac83\uc744<\/p>\n","protected":false},"author":6,"featured_media":9266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_themeisle_gutenberg_block_has_review":false,"_joinchat":[],"footnotes":""},"categories":[23,25],"tags":[],"class_list":["post-9265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-noticias-argentina"],"_links":{"self":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/9265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9265"}],"version-history":[{"count":2,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/9265\/revisions"}],"predecessor-version":[{"id":9272,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/9265\/revisions\/9272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/media\/9266"}],"wp:attachment":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}