{"id":370468,"date":"2025-09-03T14:07:50","date_gmt":"2025-09-03T14:07:50","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/yield-curve-trading-2\/"},"modified":"2025-09-03T14:29:24","modified_gmt":"2025-09-03T14:29:24","slug":"yield-curve-trading","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/markets\/yield-curve-trading\/","title":{"rendered":"Chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t Kho b\u1ea1c"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":334053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[2567],"class_list":["post-370468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-trading"],"acf":{"h1":"Chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t Kho b\u1ea1c","h1_source":{"label":"H1","type":"text","formatted_value":"Chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t Kho b\u1ea1c"},"description":"Chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch d\u1ef1a tr\u00ean ph\u00e2n t\u00edch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kho b\u1ea1c v\u00e0 bi\u1ebfn \u0111\u1ed9ng l\u00e3i su\u1ea5t","description_source":{"label":"Description","type":"textarea","formatted_value":"Chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch d\u1ef1a tr\u00ean ph\u00e2n t\u00edch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kho b\u1ea1c v\u00e0 bi\u1ebfn \u0111\u1ed9ng l\u00e3i su\u1ea5t"},"intro":"Trong c\u00e1c th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh, kh\u00f4ng ph\u1ea3i t\u1ea5t c\u1ea3 c\u00e1c ch\u1ec9 b\u00e1o \u0111\u1ec1u \u0111\u01b0\u1ee3c t\u1ea1o ra nh\u01b0 nhau. Nh\u01b0ng khi n\u00f3i \u0111\u1ebfn vi\u1ec7c d\u1ef1 \u0111o\u00e1n c\u00e1c thay \u0111\u1ed5i kinh t\u1ebf v\u0129 m\u00f4 ho\u1eb7c \u0111\u00e1nh gi\u00e1 t\u00e2m l\u00fd c\u1ee7a c\u00e1c t\u1ed5 ch\u1ee9c, \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t Kho b\u1ea1c c\u00f3 m\u1ed9t l\u1ee3i th\u1ebf \u0111\u1eb7c bi\u1ec7t. N\u00f3 kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t h\u00ecnh \u1ea3nh c\u1ee7a l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu \u2014 m\u00e0 l\u00e0 m\u1ed9t b\u1ea3n \u0111\u1ed3 s\u1ed1ng \u0111\u1ed9ng v\u1ec1 nh\u1eefng g\u00ec c\u00e1c nh\u00e0 giao d\u1ecbch, nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 tin t\u01b0\u1edfng v\u1ec1 t\u01b0\u01a1ng lai c\u1ee7a l\u00e3i su\u1ea5t, l\u1ea1m ph\u00e1t v\u00e0 t\u0103ng tr\u01b0\u1edfng.","intro_source":{"label":"Intro","type":"text","formatted_value":"Trong c\u00e1c th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh, kh\u00f4ng ph\u1ea3i t\u1ea5t c\u1ea3 c\u00e1c ch\u1ec9 b\u00e1o \u0111\u1ec1u \u0111\u01b0\u1ee3c t\u1ea1o ra nh\u01b0 nhau. Nh\u01b0ng khi n\u00f3i \u0111\u1ebfn vi\u1ec7c d\u1ef1 \u0111o\u00e1n c\u00e1c thay \u0111\u1ed5i kinh t\u1ebf v\u0129 m\u00f4 ho\u1eb7c \u0111\u00e1nh gi\u00e1 t\u00e2m l\u00fd c\u1ee7a c\u00e1c t\u1ed5 ch\u1ee9c, \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t Kho b\u1ea1c c\u00f3 m\u1ed9t l\u1ee3i th\u1ebf \u0111\u1eb7c bi\u1ec7t. N\u00f3 kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t h\u00ecnh \u1ea3nh c\u1ee7a l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu \u2014 m\u00e0 l\u00e0 m\u1ed9t b\u1ea3n \u0111\u1ed3 s\u1ed1ng \u0111\u1ed9ng v\u1ec1 nh\u1eefng g\u00ec c\u00e1c nh\u00e0 giao d\u1ecbch, nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 tin t\u01b0\u1edfng v\u1ec1 t\u01b0\u01a1ng lai c\u1ee7a l\u00e3i su\u1ea5t, l\u1ea1m ph\u00e1t v\u00e0 t\u0103ng tr\u01b0\u1edfng."},"body_html":"Thay v\u00ec ch\u1ec9 d\u1ef1a v\u00e0o c\u00e1c ch\u1ec9 b\u00e1o tr\u1ec5 ho\u1eb7c thi\u1ebft l\u1eadp k\u1ef9 thu\u1eadt, c\u00e1c nh\u00e0 giao d\u1ecbch chuy\u00ean nghi\u1ec7p ng\u00e0y c\u00e0ng ch\u00fa \u00fd \u0111\u1ebfn c\u00e1ch \u0111\u01b0\u1eddng cong u\u1ed1n cong, d\u1ed1c l\u00ean ho\u1eb7c \u0111\u1ea3o ng\u01b0\u1ee3c. M\u1ed7i chuy\u1ec3n \u0111\u1ed9ng mang m\u1ed9t th\u00f4ng \u0111i\u1ec7p \u2014 v\u00e0 n\u1ebfu \u0111\u1ecdc \u0111\u00fang, c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn c\u00e1c thi\u1ebft l\u1eadp giao d\u1ecbch m\u1ea1nh m\u1ebd.\r\n\r\nGiao d\u1ecbch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kh\u00f4ng ph\u1ea3i l\u00e0 d\u1ef1 \u0111o\u00e1n. \u0110\u00f3 l\u00e0 v\u1ec1 vi\u1ec7c \u0111\u1ecdc k\u1ef3 v\u1ecdng \u2014 v\u00e0 \u0111\u1ecbnh v\u1ecb tr\u01b0\u1edbc \u0111\u00e1m \u0111\u00f4ng.\r\n\r\nH\u01b0\u1edbng d\u1eabn n\u00e0y ph\u00e2n t\u00edch c\u00e1ch ti\u1ebfp c\u1eadn giao d\u1ecbch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t nh\u01b0 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c, kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t s\u1ef1 t\u00f2 m\u00f2 v\u0129 m\u00f4. T\u1eeb c\u00e1c giao d\u1ecbch ch\u00eanh l\u1ec7ch 2s10s v\u00e0 5s30s c\u1ed5 \u0111i\u1ec3n \u0111\u1ebfn c\u00e1c c\u1ea5u tr\u00fac d\u1ed1c l\u00ean, c\u1ea5u tr\u00fac b\u01b0\u1edbm v\u00e0 ph\u00f2ng ng\u1eeba r\u1ee7i ro th\u1eddi h\u1ea1n \u2014 b\u1ea1n s\u1ebd c\u00f3 m\u1ed9t cu\u1ed1n s\u00e1ch h\u01b0\u1edbng d\u1eabn \u0111\u1ea7y \u0111\u1ee7 k\u1ebft h\u1ee3p c\u1ea5u tr\u00fac, th\u1eddi gian v\u00e0 nh\u1eadn th\u1ee9c r\u1ee7i ro.\r\n\r\nH\u00e3y c\u00f9ng t\u00ecm hi\u1ec3u.\r\n<h2>\ud83d\udcd0 \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t Kho B\u1ea1c L\u00e0 G\u00ec?<\/h2>\r\n\u0110\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kho b\u1ea1c minh h\u1ecda l\u1ee3i nhu\u1eadn m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 y\u00eau c\u1ea7u khi cho ch\u00ednh ph\u1ee7 Hoa K\u1ef3 vay ti\u1ec1n trong c\u00e1c khung th\u1eddi gian kh\u00e1c nhau. T\u1eeb c\u00e1c ghi ch\u00fa ng\u1eafn h\u1ea1n \u0111\u1ebfn tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n, m\u1ed7i k\u1ef3 h\u1ea1n mang m\u1ed9t l\u1ee3i su\u1ea5t c\u1ee5 th\u1ec3, v\u00e0 \u0111\u01b0\u1eddng cong k\u1ebft n\u1ed1i c\u00e1c l\u1ee3i su\u1ea5t n\u00e0y \u0111\u1ec3 cho th\u1ea5y k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ec1 th\u1eddi gian, r\u1ee7i ro v\u00e0 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7.\r\n\r\nNh\u01b0ng n\u00f3 kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t bi\u1ec3u \u0111\u1ed3 \u2014 n\u00f3 l\u00e0 m\u1ed9t ph\u1ea3n \u00e1nh th\u1eddi gian th\u1ef1c c\u1ee7a t\u00e2m l\u00fd nh\u00e0 \u0111\u1ea7u t\u01b0.\r\n\r\nKhi \u0111\u01b0\u1eddng cong \u0111\u01b0\u1ee3c v\u1ebd, n\u00f3 t\u1ea1o th\u00e0nh c\u00e1c h\u00ecnh d\u1ea1ng ph\u1ea3n \u00e1nh t\u00e2m l\u00fd kinh t\u1ebf v\u0129 m\u00f4:\r\n\r\n\u2022 M\u1ed9t \u0111\u01b0\u1eddng cong t\u0103ng cho th\u1ea5y s\u1ef1 t\u1ef1 tin v\u00e0o t\u0103ng tr\u01b0\u1edfng trong t\u01b0\u01a1ng lai.\r\n\u2022 M\u1ed9t \u0111\u01b0\u1eddng cong ph\u1eb3ng ho\u1eb7c \u0111\u1ea3o ng\u01b0\u1ee3c cho th\u1ea5y s\u1ef1 th\u1eadn tr\u1ecdng, b\u00e1o hi\u1ec7u nh\u1eefng lo ng\u1ea1i nh\u01b0 GDP ch\u1eadm l\u1ea1i ho\u1eb7c t\u0103ng l\u00e3i su\u1ea5t m\u1ea1nh m\u1ebd.\r\n<h3>T\u1ea1i Sao N\u00f3 Quan Tr\u1ecdng \u0110\u1ed1i V\u1edbi C\u00e1c Nh\u00e0 Giao D\u1ecbch:<\/h3>\r\n\u2022 N\u00f3 ti\u1ebft l\u1ed9 n\u01a1i d\u00f2ng ti\u1ec1n t\u1ed5 ch\u1ee9c \u0111ang ch\u1ea3y.\r\n\u2022 N\u00f3 gi\u00fap \u0111\u00e1nh gi\u00e1 c\u00e1c \u0111\u1ed9ng th\u00e1i s\u1eafp t\u1edbi trong l\u00e3i su\u1ea5t v\u00e0 l\u1ea1m ph\u00e1t.\r\n\u2022 N\u00f3 cung c\u1ea5p c\u00e1c thi\u1ebft l\u1eadp cho c\u00e1c chi\u1ebfn l\u01b0\u1ee3c nh\u01b0 d\u1ed1c l\u00ean, d\u1ed1c xu\u1ed1ng v\u00e0 giao d\u1ecbch b\u01b0\u1edbm.\r\n\r\nThay v\u00ec ch\u1ea1y theo c\u00e1c t\u00edn hi\u1ec7u ng\u1eafn h\u1ea1n, c\u00e1c nh\u00e0 giao d\u1ecbch s\u1eed d\u1ee5ng \u0111\u01b0\u1eddng cong \u0111\u1ec3 hi\u1ec3u c\u00e1ch th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu \u0111\u1ecbnh gi\u00e1 t\u01b0\u01a1ng lai \u2014 v\u00e0 \u0111\u1ecbnh v\u1ecb tr\u01b0\u1edbc \u0111\u00e1m \u0111\u00f4ng.\r\n<h2>\ud83d\udcca C\u1ea5u Tr\u00fac \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t: Nh\u1eefng H\u00ecnh D\u1ea1ng Th\u1ef1c S\u1ef1 N\u00f3i G\u00ec V\u1edbi B\u1ea1n<\/h2>\r\n\u0110\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t bi\u1ec3u \u0111\u1ed3 k\u1ef9 thu\u1eadt \u2014 n\u00f3 l\u00e0 m\u1ed9t tia X t\u00e2m l\u00fd c\u1ee7a th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu. \u0110\u1ed9 d\u1ed1c v\u00e0 h\u00ecnh d\u1ea1ng c\u1ee7a n\u00f3 th\u01b0\u1eddng thay \u0111\u1ed5i tr\u01b0\u1edbc c\u00e1c \u0111i\u1ec3m ngo\u1eb7t l\u1edbn trong n\u1ec1n kinh t\u1ebf v\u00e0 th\u1ecb tr\u01b0\u1eddng.\r\n<h3>\u2705 \u0110\u01b0\u1eddng Cong T\u0103ng (B\u00ecnh Th\u01b0\u1eddng)<\/h3>\r\nC\u1ea5u tr\u00fac n\u00e0y c\u00f3 ngh\u0129a l\u00e0 tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n c\u00f3 l\u1ee3i su\u1ea5t cao h\u01a1n tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n. N\u00f3 th\u01b0\u1eddng \u0111\u01b0\u1ee3c th\u1ea5y trong c\u00e1c giai \u0111o\u1ea1n m\u1edf r\u1ed9ng, khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t v\u00e0 t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf trong t\u01b0\u01a1ng lai.\r\n\r\n\ud83d\udca1 <strong>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch:<\/strong> \u0110i\u1ec1u n\u00e0y \u1ee7ng h\u1ed9 c\u00e1c chi\u1ebfn l\u01b0\u1ee3c r\u1ee7i ro, \u0111\u1eb7c bi\u1ec7t l\u00e0 c\u00e1c giao d\u1ecbch d\u1ed1c l\u00ean, h\u01b0\u1edfng l\u1ee3i t\u1eeb s\u1ef1 ch\u00eanh l\u1ec7ch l\u1ee3i su\u1ea5t m\u1edf r\u1ed9ng gi\u1eefa tr\u00e1i phi\u1ebfu 2 n\u0103m v\u00e0 10 n\u0103m.\r\n<h3>\u26a0\ufe0f \u0110\u01b0\u1eddng Cong \u0110\u1ea3o Ng\u01b0\u1ee3c<\/h3>\r\nKhi l\u1ee3i su\u1ea5t ng\u1eafn h\u1ea1n v\u01b0\u1ee3t qua l\u1ee3i su\u1ea5t d\u00e0i h\u1ea1n, th\u1ecb tr\u01b0\u1eddng ph\u00e1t t\u00edn hi\u1ec7u \u0111\u1ecf. S\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c n\u00e0y ph\u1ea3n \u00e1nh ni\u1ec1m tin c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t s\u1eafp t\u1edbi ho\u1eb7c m\u1ed9t cu\u1ed9c suy tho\u00e1i c\u00f3 th\u1ec3 x\u1ea3y ra.\r\n\r\n\ud83d\udca1 <strong>Chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch:<\/strong> V\u1ecb th\u1ebf ph\u00f2ng th\u1ee7. Tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n ho\u1eb7c c\u00e1c chi\u1ebfn l\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i t\u1eeb l\u1ee3i su\u1ea5t gi\u1ea3m tr\u1edf n\u00ean h\u1ea5p d\u1eabn.\r\n<h3>\ud83d\udfe8 \u0110\u01b0\u1eddng Cong Ph\u1eb3ng<\/h3>\r\nM\u1ed9t \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t ph\u1eb3ng c\u00f3 ngh\u0129a l\u00e0 l\u1ee3i su\u1ea5t tr\u00ean c\u00e1c k\u1ef3 h\u1ea1n g\u1ea7n nh\u01b0 gi\u1ed1ng nhau \u2014 d\u1ea5u hi\u1ec7u c\u1ee7a s\u1ef1 do d\u1ef1 ho\u1eb7c chuy\u1ec3n \u0111\u1ed5i ch\u00ednh s\u00e1ch.\r\n\r\n\ud83d\udca1 <strong>Thay \u0111\u1ed5i chi\u1ebfn l\u01b0\u1ee3c:<\/strong> Nhi\u1ec1u nh\u00e0 giao d\u1ecbch l\u00f9i l\u1ea1i ho\u1eb7c ph\u00f2ng ng\u1eeba c\u1ea3 hai \u0111\u1ea7u c\u1ee7a \u0111\u01b0\u1eddng cong, d\u1ef1 \u0111o\u00e1n m\u1ed9t s\u1ef1 ph\u00e1 v\u1ee1 cu\u1ed1i c\u00f9ng l\u00ean ho\u1eb7c xu\u1ed1ng.\r\n\r\nNh\u1eefng h\u00ecnh d\u1ea1ng n\u00e0y kh\u00f4ng bao gi\u1edd ng\u1eabu nhi\u00ean. Ch\u00fang v\u1ebd b\u1ea3n \u0111\u1ed3 c\u00e1ch c\u00e1c t\u1ed5 ch\u1ee9c \u2014 v\u00e0 ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng \u2014 \u0111\u1ecbnh gi\u00e1 t\u01b0\u01a1ng lai. Ph\u00e1t hi\u1ec7n s\u1ef1 thay \u0111\u1ed5i c\u1ee7a ch\u00fang trong th\u1eddi gian th\u1ef1c mang l\u1ea1i cho b\u1ea1n l\u1ee3i th\u1ebf chi\u1ebfn l\u01b0\u1ee3c m\u00e0 \u00edt nh\u00e0 giao d\u1ecbch b\u00e1n l\u1ebb c\u00f3 \u0111\u01b0\u1ee3c.\r\n<h2>\ud83d\udcc8 Giao D\u1ecbch \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t: Thi\u1ebft L\u1eadp D\u1ed1c L\u00ean v\u00e0 D\u1ed1c Xu\u1ed1ng<\/h2>\r\nC\u00e1c nh\u00e0 giao d\u1ecbch tr\u00e1i phi\u1ebfu kh\u00f4ng ch\u1ec9 quan s\u00e1t \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t \u2014 h\u1ecd h\u00e0nh \u0111\u1ed9ng d\u1ef1a tr\u00ean s\u1ef1 thay \u0111\u1ed5i \u0111\u1ed9ng c\u1ee7a n\u00f3. Hai trong s\u1ed1 c\u00e1c m\u00f4 h\u00ecnh m\u1ea1nh m\u1ebd nh\u1ea5t l\u00e0 d\u1ed1c l\u00ean v\u00e0 d\u1ed1c xu\u1ed1ng. M\u1ed7i m\u00f4 h\u00ecnh ch\u1ec9 ra c\u00e1c c\u00e2u chuy\u1ec7n kinh t\u1ebf kh\u00e1c nhau v\u00e0 cung c\u1ea5p c\u01a1 h\u1ed9i giao d\u1ecbch c\u00f3 x\u00e1c su\u1ea5t cao.\r\n<h3>\ud83d\udd3a Khi \u0110\u01b0\u1eddng Cong D\u1ed1c L\u00ean<\/h3>\r\nM\u1ed9t \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t d\u1ed1c l\u00ean cho th\u1ea5y l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n \u0111ang t\u0103ng nhanh h\u01a1n l\u00e3i su\u1ea5t ng\u1eafn h\u1ea1n. \u0110i\u1ec1u n\u00e0y th\u01b0\u1eddng ph\u1ea3n \u00e1nh s\u1ef1 l\u1ea1c quan v\u1ec1 t\u0103ng tr\u01b0\u1edfng trong t\u01b0\u01a1ng lai ho\u1eb7c k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t \u0111ang t\u0103ng l\u00ean.\r\n\r\n<strong>T\u00edn hi\u1ec7u ch\u00ednh:<\/strong>\r\n\u2022 L\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n t\u0103ng sau c\u00e1c t\u00edn hi\u1ec7u \u00f4n h\u00f2a t\u1eeb Fed\r\n\u2022 Nhu c\u1ea7u \u0111\u1ed1i v\u1edbi n\u1ee3 d\u00e0i h\u1ea1n gi\u1ea3m\r\n\u2022 H\u00e0ng h\u00f3a t\u0103ng gi\u00e1\r\n\r\n<strong>Thi\u1ebft l\u1eadp giao d\u1ecbch:<\/strong>\r\n\u2022 Mua tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n (2Y), b\u00e1n tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n (10Y ho\u1eb7c 30Y)\r\n\u2022 Mua c\u1ed5 phi\u1ebfu chu k\u1ef3 (c\u00f4ng nghi\u1ec7p, n\u0103ng l\u01b0\u1ee3ng), b\u00e1n c\u00e1c ng\u00e0nh c\u00f3 beta th\u1ea5p\r\n\u2022 L\u1ea1c quan v\u1ec1 t\u00e0i s\u1ea3n nh\u1ea1y c\u1ea3m v\u1edbi l\u1ea1m ph\u00e1t\r\n<h3>\ud83d\udd3b Khi \u0110\u01b0\u1eddng Cong D\u1ed1c Xu\u1ed1ng<\/h3>\r\nD\u1ed1c xu\u1ed1ng ng\u1ee5 \u00fd l\u1ee3i su\u1ea5t ng\u1eafn h\u1ea1n \u0111ang b\u1eaft k\u1ecbp (ho\u1eb7c v\u01b0\u1ee3t qua) l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n \u2014 m\u1ed9t d\u1ea5u hi\u1ec7u ph\u1ed5 bi\u1ebfn c\u1ee7a th\u1eaft ch\u1eb7t ti\u1ec1n t\u1ec7 ho\u1eb7c suy tho\u00e1i kinh t\u1ebf.\r\n\r\n<strong>T\u00edn hi\u1ec7u ch\u00ednh:<\/strong>\r\n\u2022 T\u0103ng l\u00e3i su\u1ea5t c\u1ee7a Fed \u0111\u1ea9y l\u1ee3i su\u1ea5t ng\u1eafn h\u1ea1n l\u00ean\r\n\u2022 Nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm an to\u00e0n trong tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n\r\n\u2022 Th\u1ecb tr\u01b0\u1eddng \u0111\u1ecbnh gi\u00e1 r\u1ee7i ro suy tho\u00e1i\r\n\r\n<strong>Thi\u1ebft l\u1eadp giao d\u1ecbch:<\/strong>\r\n\u2022 Mua tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n (v\u00ed d\u1ee5: TLT), b\u00e1n tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n\r\n\u2022 Mua c\u1ed5 phi\u1ebfu ph\u00f2ng th\u1ee7 (ch\u0103m s\u00f3c s\u1ee9c kh\u1ecfe, ti\u1ec7n \u00edch)\r\n\u2022 Ch\u01a1i n\u00e9n ch\u00eanh l\u1ec7ch th\u00f4ng qua h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai ho\u1eb7c c\u1eb7p ETF\r\n\r\n\ud83d\udca1 <strong>L\u1ee3i th\u1ebf chi\u1ebfn thu\u1eadt:<\/strong> \u0110\u1eebng giao d\u1ecbch m\u1ed9t c\u00e1ch m\u00f9 qu\u00e1ng \u2014 theo d\u00f5i c\u00e1c ph\u00e1t bi\u1ec3u c\u1ee7a Fed, CPI v\u00e0 ch\u00eanh l\u1ec7ch l\u1ee3i su\u1ea5t. \u0110\u01b0\u1eddng cong di chuy\u1ec3n v\u00ec k\u1ef3 v\u1ecdng, kh\u00f4ng ch\u1ec9 v\u00ec c\u00e1c con s\u1ed1.\r\n<h2>\ud83d\udcd0 Ch\u00eanh L\u1ec7ch L\u1ee3i Su\u1ea5t v\u00e0 Xoay V\u00f2ng D\u1ef1a Tr\u00ean Th\u1eddi H\u1ea1n<\/h2>\r\nCh\u00eanh l\u1ec7ch l\u1ee3i su\u1ea5t \u2014 nh\u01b0 2s10s, 5s30s, ho\u1eb7c 10s30s \u2014 kh\u00f4ng ch\u1ec9 l\u00e0 to\u00e1n h\u1ecdc. Ch\u00fang ph\u1ea3n \u00e1nh c\u00e1ch th\u1ecb tr\u01b0\u1eddng nh\u1eadn th\u1ee9c ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7, r\u1ee7i ro t\u0103ng tr\u01b0\u1edfng v\u00e0 k\u1ef3 v\u1ecdng l\u00e3i su\u1ea5t tr\u00ean c\u00e1c khung th\u1eddi gian kh\u00e1c nhau. C\u00e1c nh\u00e0 giao d\u1ecbch s\u1eed d\u1ee5ng c\u00e1c ch\u00eanh l\u1ec7ch n\u00e0y \u0111\u1ec3 xoay v\u00f2ng v\u1ed1n gi\u1eefa c\u00e1c c\u00f4ng c\u1ee5 c\u00f3 m\u1ee9c \u0111\u1ed9 ph\u01a1i nhi\u1ec5m th\u1eddi h\u1ea1n kh\u00e1c nhau.\r\n<h3>\ud83d\udd0d Hi\u1ec3u V\u1ec1 Ch\u00eanh L\u1ec7ch L\u1ee3i Su\u1ea5t<\/h3>\r\n\u2022 <strong>Ch\u00eanh l\u1ec7ch 2s10s:<\/strong> \u0110o l\u01b0\u1eddng s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu 2 n\u0103m v\u00e0 10 n\u0103m.\r\n<ul>\r\n \t<li>M\u1ed9t ch\u00eanh l\u1ec7ch thu h\u1eb9p c\u00f3 th\u1ec3 b\u00e1o hi\u1ec7u s\u1ef1 ch\u1eadm l\u1ea1i s\u1eafp t\u1edbi.<\/li>\r\n \t<li>S\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c th\u01b0\u1eddng x\u1ea3y ra tr\u01b0\u1edbc c\u00e1c cu\u1ed9c suy tho\u00e1i.<\/li>\r\n<\/ul>\r\n\u2022 <strong>Ch\u00eanh l\u1ec7ch 5s30s:<\/strong> Cho th\u1ea5y t\u00e2m l\u00fd d\u00e0i h\u1ea1n s\u00e2u h\u01a1n.\r\n<ul>\r\n \t<li>D\u1ed1c l\u00ean trong c\u00e1c giao d\u1ecbch t\u00e1i l\u1ea1m ph\u00e1t.<\/li>\r\n \t<li>D\u1ed1c xu\u1ed1ng khi th\u1ecb tr\u01b0\u1eddng k\u1ef3 v\u1ecdng s\u1ef1 tr\u00ec tr\u1ec7 d\u00e0i h\u1ea1n ho\u1eb7c QE.<\/li>\r\n<\/ul>\r\n<h3>\ud83e\udde0 Logic Giao D\u1ecbch D\u1ef1a Tr\u00ean Th\u1eddi H\u1ea1n<\/h3>\r\nTh\u1eddi h\u1ea1n c\u1ee7a tr\u00e1i phi\u1ebfu c\u00e0ng d\u00e0i, n\u00f3 c\u00e0ng nh\u1ea1y c\u1ea3m v\u1edbi s\u1ef1 thay \u0111\u1ed5i l\u00e3i su\u1ea5t (th\u1eddi h\u1ea1n cao h\u01a1n). C\u00e1c nh\u00e0 giao d\u1ecbch ph\u00f2ng ng\u1eeba r\u1ee7i ro l\u00e3i su\u1ea5t ho\u1eb7c \u0111\u1ea7u c\u01a1 v\u00e0o c\u00e1c \u0111i\u1ec3m xoay ch\u00ednh s\u00e1ch b\u1eb1ng c\u00e1ch xoay v\u00f2ng tr\u00ean \u0111\u01b0\u1eddng cong:\r\n\r\n\u2022 <strong>Ch\u01a1i d\u1ed1c xu\u1ed1ng:<\/strong> Mua 30Y \/ B\u00e1n 5Y\r\n\u2022 <strong>Ch\u01a1i d\u1ed1c l\u00ean:<\/strong> B\u00e1n 30Y \/ Mua 5Y\r\n\u2022 <strong>S\u1eed d\u1ee5ng h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai<\/strong> nh\u01b0 ZF (5Y), ZN (10Y), ZB (30Y) cho c\u00e1c giao d\u1ecbch \u0111\u01b0\u1eddng cong c\u00f3 \u0111\u00f2n b\u1ea9y.\r\n<h3>\u26a0\ufe0f C\u1ea9n Th\u1eadn V\u1edbi C\u00e1c T\u00edn Hi\u1ec7u \"Gi\u1ea3\"<\/h3>\r\n\u0110\u00f4i khi, \u0111\u01b0\u1eddng cong d\u1ed1c xu\u1ed1ng do c\u00e1c bi\u1ebfn d\u1ea1ng QE ho\u1eb7c n\u00e9n l\u1ee3i su\u1ea5t to\u00e0n c\u1ea7u \u2014 kh\u00f4ng ph\u1ea3i suy tho\u00e1i. Lu\u00f4n ki\u1ec3m tra ch\u00e9o v\u1edbi ch\u00eanh l\u1ec7ch t\u00edn d\u1ee5ng, b\u1ea5t ng\u1edd kinh t\u1ebf v\u00e0 k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t.\r\n<h2>\ud83d\udd04 Di\u1ec5n Gi\u1ea3i \u0110\u1ea3o Ng\u01b0\u1ee3c \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t Cho C\u00e1c Nh\u00e0 Giao D\u1ecbch<\/h2>\r\nM\u1ed9t trong nh\u1eefng t\u00edn hi\u1ec7u \u0111\u01b0\u1ee3c th\u1ea3o lu\u1eadn nhi\u1ec1u nh\u1ea5t \u2014 v\u00e0 th\u01b0\u1eddng b\u1ecb hi\u1ec3u sai \u2014 trong giao d\u1ecbch v\u0129 m\u00f4 l\u00e0 s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t. N\u00f3 x\u1ea3y ra khi l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n v\u01b0\u1ee3t qua l\u1ee3i su\u1ea5t d\u00e0i h\u1ea1n, cho th\u1ea5y s\u1ef1 thay \u0111\u1ed5i trong k\u1ef3 v\u1ecdng th\u1ecb tr\u01b0\u1eddng.\r\n\r\nThay v\u00ec th\u1ec3 hi\u1ec7n s\u1ef1 l\u1ea1c quan, s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c n\u00e0y th\u01b0\u1eddng ph\u1ea3n \u00e1nh n\u1ed7i s\u1ee3 h\u00e3i v\u1ec1 s\u1ef1 ch\u1eadm l\u1ea1i c\u1ee7a n\u1ec1n kinh t\u1ebf.\r\n<h3>\ud83d\udcc9 N\u00f3 Th\u1ef1c S\u1ef1 N\u00f3i G\u00ec V\u1edbi Ch\u00fang Ta<\/h3>\r\nM\u1ed9t \u0111\u01b0\u1eddng cong \u0111\u1ea3o ng\u01b0\u1ee3c kh\u00f4ng ph\u1ea3i l\u00e0 \"ti\u1ec1n mi\u1ec5n ph\u00ed\" tr\u00ean tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n. N\u00f3 l\u00e0 m\u1ed9t d\u1ea5u hi\u1ec7u r\u1eb1ng:\r\n\r\n\u2022 C\u00e1c nh\u00e0 giao d\u1ecbch k\u1ef3 v\u1ecdng t\u0103ng tr\u01b0\u1edfng y\u1ebfu h\u01a1n ph\u00eda tr\u01b0\u1edbc\r\n\u2022 Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u00f3 th\u1ec3 bu\u1ed9c ph\u1ea3i c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t\r\n\u2022 R\u1ee7i ro d\u00e0i h\u1ea1n \u0111\u01b0\u1ee3c coi l\u00e0 th\u1ea5p h\u01a1n so v\u1edbi r\u1ee7i ro ngay l\u1eadp t\u1ee9c\r\n\r\nN\u00f3 l\u1eadt ng\u01b0\u1ee3c logic c\u1ee7a th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu \u2014 v\u00e0 \u0111\u00f3 ch\u00ednh l\u00e0 l\u00fd do t\u1ea1i sao n\u00f3 quan tr\u1ecdng.\r\n<h3>\ud83d\udee0 \u00dd Ngh\u0129a Giao D\u1ecbch<\/h3>\r\n\u2022 <strong>Mua th\u1eddi h\u1ea1n:<\/strong> Tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n th\u01b0\u1eddng t\u0103ng gi\u00e1 sau khi \u0111\u1ea3o ng\u01b0\u1ee3c\r\n\u2022 <strong>\u0110\u1ecbnh v\u1ecb cho bi\u1ebfn \u0111\u1ed9ng:<\/strong> C\u00e1c qu\u1ef9 v\u0129 m\u00f4 c\u00f3 th\u1ec3 ph\u00f2ng ng\u1eeba r\u1ee7i ro m\u1ea1nh m\u1ebd\r\n\u2022 <strong>Theo d\u00f5i ch\u00eanh l\u1ec7ch:<\/strong> 2s10s v\u00e0 3m10y l\u00e0 c\u00e1c ch\u1ec9 b\u00e1o suy tho\u00e1i quan tr\u1ecdng\r\n\r\nS\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kh\u00f4ng g\u00e2y ra suy tho\u00e1i \u2014 ch\u00fang d\u1ef1 b\u00e1o k\u1ef3 v\u1ecdng c\u1ee7a d\u00f2ng ti\u1ec1n th\u00f4ng minh \u0111ang chu\u1ea9n b\u1ecb cho m\u1ed9t cu\u1ed9c suy tho\u00e1i.\r\n\r\nKhi k\u1ebft h\u1ee3p v\u1edbi d\u1eef li\u1ec7u x\u1ea5u \u0111i (v\u00ed d\u1ee5: vi\u1ec7c l\u00e0m, ch\u00eanh l\u1ec7ch t\u00edn d\u1ee5ng), m\u1ed9t s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c tr\u1edf th\u00e0nh m\u1ed9t t\u00edn hi\u1ec7u x\u00e1c nh\u1eadn m\u1ea1nh m\u1ebd cho c\u00e1c thay \u0111\u1ed5i chi\u1ebfn thu\u1eadt.\r\n<h2>\ud83d\udcc8 Chi\u1ebfn L\u01b0\u1ee3c Giao D\u1ecbch \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t Th\u1ef1c Ti\u1ec5n<\/h2>\r\nB\u00e2y gi\u1edd h\u00e3y chuy\u1ec3n t\u1eeb l\u00fd thuy\u1ebft sang \u1ee9ng d\u1ee5ng th\u1ef1c t\u1ebf. L\u00e0m th\u1ebf n\u00e0o c\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 ch\u1ee7 \u0111\u1ed9ng t\u1eadn d\u1ee5ng c\u00e1c t\u00edn hi\u1ec7u t\u1eeb \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t \u0111\u1ec3 x\u00e2y d\u1ef1ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c c\u00f3 l\u1ee3i nhu\u1eadn?\r\n\r\nD\u01b0\u1edbi \u0111\u00e2y l\u00e0 ba c\u00e1ch ti\u1ebfp c\u1eadn ch\u00ednh:\r\n<h3>1. Giao D\u1ecbch D\u1ed1c L\u00ean<\/h3>\r\nKhi ch\u00eanh l\u1ec7ch gi\u1eefa l\u1ee3i su\u1ea5t ng\u1eafn h\u1ea1n v\u00e0 d\u00e0i h\u1ea1n m\u1edf r\u1ed9ng, n\u00f3 b\u00e1o hi\u1ec7u k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t t\u0103ng ho\u1eb7c s\u1ef1 thay \u0111\u1ed5i trong ch\u00ednh s\u00e1ch ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng.\r\n\r\n<strong>C\u00e1ch giao d\u1ecbch:<\/strong>\r\n\u2022 Mua tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n (v\u00ed d\u1ee5: tr\u00e1i phi\u1ebfu kho b\u1ea1c 10 n\u0103m ho\u1eb7c 30 n\u0103m)\r\n\u2022 B\u00e1n tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n (v\u00ed d\u1ee5: ghi ch\u00fa 2 n\u0103m)\r\n\u2022 S\u1eed d\u1ee5ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c d\u1ef1a tr\u00ean ch\u00eanh l\u1ec7ch nh\u01b0 giao d\u1ecbch \u0111\u01b0\u1eddng cong t\u01b0\u01a1ng lai ho\u1eb7c quy\u1ec1n ch\u1ecdn tr\u00ean ETF tr\u00e1i phi\u1ebfu\r\n\r\nChi\u1ebfn l\u01b0\u1ee3c n\u00e0y h\u01b0\u1edfng l\u1ee3i t\u1eeb m\u1ed9t \u0111\u01b0\u1eddng cong d\u1ed1c l\u00ean khi l\u1ea1m ph\u00e1t ho\u1eb7c t\u0103ng tr\u01b0\u1edfng \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng t\u0103ng.\r\n<h3>2. Giao D\u1ecbch D\u1ed1c Xu\u1ed1ng<\/h3>\r\nKhi \u0111\u01b0\u1eddng cong b\u1eaft \u0111\u1ea7u d\u1ed1c xu\u1ed1ng, th\u1ecb tr\u01b0\u1eddng th\u01b0\u1eddng \u0111\u1ecbnh gi\u00e1 m\u1ed9t n\u1ec1n kinh t\u1ebf ch\u1eadm l\u1ea1i ho\u1eb7c ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u1eaft ch\u1eb7t h\u01a1n.\r\n\r\n<strong>Thi\u1ebft l\u1eadp chi\u1ebfn thu\u1eadt:<\/strong>\r\n\u2022 B\u00e1n l\u1ee3i su\u1ea5t d\u00e0i h\u1ea1n\r\n\u2022 Mua l\u1ee3i su\u1ea5t ng\u1eafn h\u1ea1n\r\n\u2022 Th\u1ef1c hi\u1ec7n v\u1edbi h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai, ho\u00e1n \u0111\u1ed5i, ho\u1eb7c ETF d\u1ed1c xu\u1ed1ng\r\n\r\nThi\u1ebft l\u1eadp n\u00e0y ph\u1ed5 bi\u1ebfn trong s\u1ed1 c\u00e1c ng\u01b0\u1eddi ch\u01a1i t\u1ed5 ch\u1ee9c chu\u1ea9n b\u1ecb cho th\u1eaft ch\u1eb7t kinh t\u1ebf v\u0129 m\u00f4.\r\n<h3>3. S\u1eed D\u1ee5ng \u0110\u1ea3o Ng\u01b0\u1ee3c L\u00e0m K\u00edch Ho\u1ea1t<\/h3>\r\nM\u1ed9t \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t \u0111\u1ea3o ng\u01b0\u1ee3c kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t c\u1ea3nh b\u00e1o \u2014 n\u00f3 l\u00e0 m\u1ed9t l\u1eddi k\u00eau g\u1ecdi c\u00e2n b\u1eb1ng l\u1ea1i:\r\n\r\n\u2022 Gi\u1ea3m ph\u01a1i nhi\u1ec5m v\u1edbi c\u1ed5 phi\u1ebfu chu k\u1ef3\r\n\u2022 T\u0103ng ph\u00e2n b\u1ed5 v\u00e0o t\u00e0i s\u1ea3n an to\u00e0n nh\u01b0 v\u00e0ng v\u00e0 tr\u00e1i phi\u1ebfu\r\n\u2022 Chu\u1ea9n b\u1ecb cho vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng quy\u1ec1n ch\u1ecdn d\u00e0i h\u1ea1n ho\u1eb7c ghi ch\u00fa c\u1ea5u tr\u00fac\r\n\r\n\ud83d\udca1 <strong>\u0110\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kh\u00f4ng ch\u1ec9 l\u00e0 v\u1ec1 l\u00e3i su\u1ea5t \u2014 n\u00f3 l\u00e0 m\u1ed9t ch\u1ec9 b\u00e1o t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng h\u01b0\u1edbng v\u1ec1 ph\u00eda tr\u01b0\u1edbc. L\u00e0m ch\u1ee7 n\u00f3 c\u00f3 ngh\u0129a l\u00e0 d\u1ef1 \u0111o\u00e1n nh\u1eefng g\u00ec ng\u01b0\u1eddi kh\u00e1c ch\u01b0a ph\u1ea3n \u1ee9ng.\r\n<\/strong>\r\n<h2>[cta_green text=\"Start trading\"]<\/h2>\r\n<h2>\ud83e\udde0 K\u1ebft Lu\u1eadn: \u0110\u01b0\u1eddng Cong Ph\u00eda Tr\u01b0\u1edbc \u2014 Bi\u1ebft \u0110\u01b0\u1eddng \u0110i<\/h2>\r\nHi\u1ec3u v\u1ec1 \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kho b\u1ea1c kh\u00f4ng ch\u1ec9 d\u00e0nh cho c\u00e1c nh\u00e0 kinh t\u1ebf h\u1ecdc ho\u1eb7c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng \u2014 n\u00f3 l\u00e0 m\u1ed9t khung m\u1ea1nh m\u1ebd cho b\u1ea5t k\u1ef3 nh\u00e0 giao d\u1ecbch n\u00e0o mu\u1ed1n gi\u1ea3i m\u00e3 \u0111i\u1ec1u ki\u1ec7n v\u0129 m\u00f4 v\u00e0 \u0111i tr\u01b0\u1edbc c\u00e1c thay \u0111\u1ed5i l\u1edbn trong t\u00e2m l\u00fd.\r\n\r\nD\u00f9 b\u1ea1n \u0111ang ph\u00f2ng ng\u1eeba r\u1ee7i ro suy tho\u00e1i, \u0111\u1eb7t c\u01b0\u1ee3c v\u00e0o s\u1ef1 ph\u1ee5c h\u1ed3i kinh t\u1ebf, hay xoay v\u00f2ng gi\u1eefa c\u00e1c ng\u00e0nh \u2014 l\u00e0m ch\u1ee7 c\u00e1c t\u00edn hi\u1ec7u \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t mang l\u1ea1i cho b\u1ea1n l\u1ee3i th\u1ebf d\u00e0i h\u1ea1n trong b\u1ea5t k\u1ef3 lo\u1ea1i t\u00e0i s\u1ea3n n\u00e0o.\r\n\r\nNh\u01b0 m\u1ecdi khi, h\u00e3y lu\u00f4n c\u1eadp nh\u1eadt th\u00f4ng tin, chi\u1ebfn thu\u1eadt v\u00e0 giao d\u1ecbch c\u00f3 m\u1ee5c \u0111\u00edch.\r\n<h2>\ud83d\udcda T\u00e0i Li\u1ec7u Tham Kh\u1ea3o<\/h2>\r\n<ol>\r\n \t<li style=\"list-style-type: none;\">\r\n<ol>\r\n \t<li>D\u1eef li\u1ec7u Kinh t\u1ebf c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (FRED) \u2013 <a href=\"https:\/\/fred.stlouisfed.org\" target=\"_blank\" rel=\"noopener\">https:\/\/fred.stlouisfed.org<\/a><\/li>\r\n \t<li>B\u1ed9 T\u00e0i ch\u00ednh Hoa K\u1ef3 \u2013 <a href=\"https:\/\/home.treasury.gov\" target=\"_blank\" rel=\"noopener\">https:\/\/home.treasury.gov<\/a><\/li>\r\n \t<li>Investopedia \u2013 <a href=\"https:\/\/www.investopedia.com\" target=\"_blank\" rel=\"noopener\">https:\/\/www.investopedia.com<\/a><\/li>\r\n \t<li>C\u00f4ng c\u1ee5 \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t c\u1ee7a CME Group \u2013 <a href=\"https:\/\/www.cmegroup.com\" target=\"_blank\" rel=\"noopener\">https:\/\/www.cmegroup.com<\/a><\/li>\r\n \t<li>Ph\u00e2n T\u00edch Th\u1ecb Tr\u01b0\u1eddng Nasdaq \u2013 <a href=\"https:\/\/www.nasdaq.com\" target=\"_blank\" rel=\"noopener\">https:\/\/www.nasdaq.com<\/a><\/li>\r\n<\/ol>\r\n<\/li>\r\n<\/ol>","body_html_source":{"label":"Body HTML","type":"wysiwyg","formatted_value":"<p>Thay v\u00ec ch\u1ec9 d\u1ef1a v\u00e0o c\u00e1c ch\u1ec9 b\u00e1o tr\u1ec5 ho\u1eb7c thi\u1ebft l\u1eadp k\u1ef9 thu\u1eadt, c\u00e1c nh\u00e0 giao d\u1ecbch chuy\u00ean nghi\u1ec7p ng\u00e0y c\u00e0ng ch\u00fa \u00fd \u0111\u1ebfn c\u00e1ch \u0111\u01b0\u1eddng cong u\u1ed1n cong, d\u1ed1c l\u00ean ho\u1eb7c \u0111\u1ea3o ng\u01b0\u1ee3c. M\u1ed7i chuy\u1ec3n \u0111\u1ed9ng mang m\u1ed9t th\u00f4ng \u0111i\u1ec7p \u2014 v\u00e0 n\u1ebfu \u0111\u1ecdc \u0111\u00fang, c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn c\u00e1c thi\u1ebft l\u1eadp giao d\u1ecbch m\u1ea1nh m\u1ebd.<\/p>\n<p>Giao d\u1ecbch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kh\u00f4ng ph\u1ea3i l\u00e0 d\u1ef1 \u0111o\u00e1n. \u0110\u00f3 l\u00e0 v\u1ec1 vi\u1ec7c \u0111\u1ecdc k\u1ef3 v\u1ecdng \u2014 v\u00e0 \u0111\u1ecbnh v\u1ecb tr\u01b0\u1edbc \u0111\u00e1m \u0111\u00f4ng.<\/p>\n<p>H\u01b0\u1edbng d\u1eabn n\u00e0y ph\u00e2n t\u00edch c\u00e1ch ti\u1ebfp c\u1eadn giao d\u1ecbch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t nh\u01b0 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c, kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t s\u1ef1 t\u00f2 m\u00f2 v\u0129 m\u00f4. T\u1eeb c\u00e1c giao d\u1ecbch ch\u00eanh l\u1ec7ch 2s10s v\u00e0 5s30s c\u1ed5 \u0111i\u1ec3n \u0111\u1ebfn c\u00e1c c\u1ea5u tr\u00fac d\u1ed1c l\u00ean, c\u1ea5u tr\u00fac b\u01b0\u1edbm v\u00e0 ph\u00f2ng ng\u1eeba r\u1ee7i ro th\u1eddi h\u1ea1n \u2014 b\u1ea1n s\u1ebd c\u00f3 m\u1ed9t cu\u1ed1n s\u00e1ch h\u01b0\u1edbng d\u1eabn \u0111\u1ea7y \u0111\u1ee7 k\u1ebft h\u1ee3p c\u1ea5u tr\u00fac, th\u1eddi gian v\u00e0 nh\u1eadn th\u1ee9c r\u1ee7i ro.<\/p>\n<p>H\u00e3y c\u00f9ng t\u00ecm hi\u1ec3u.<\/p>\n<h2>\ud83d\udcd0 \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t Kho B\u1ea1c L\u00e0 G\u00ec?<\/h2>\n<p>\u0110\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kho b\u1ea1c minh h\u1ecda l\u1ee3i nhu\u1eadn m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 y\u00eau c\u1ea7u khi cho ch\u00ednh ph\u1ee7 Hoa K\u1ef3 vay ti\u1ec1n trong c\u00e1c khung th\u1eddi gian kh\u00e1c nhau. T\u1eeb c\u00e1c ghi ch\u00fa ng\u1eafn h\u1ea1n \u0111\u1ebfn tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n, m\u1ed7i k\u1ef3 h\u1ea1n mang m\u1ed9t l\u1ee3i su\u1ea5t c\u1ee5 th\u1ec3, v\u00e0 \u0111\u01b0\u1eddng cong k\u1ebft n\u1ed1i c\u00e1c l\u1ee3i su\u1ea5t n\u00e0y \u0111\u1ec3 cho th\u1ea5y k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ec1 th\u1eddi gian, r\u1ee7i ro v\u00e0 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7.<\/p>\n<p>Nh\u01b0ng n\u00f3 kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t bi\u1ec3u \u0111\u1ed3 \u2014 n\u00f3 l\u00e0 m\u1ed9t ph\u1ea3n \u00e1nh th\u1eddi gian th\u1ef1c c\u1ee7a t\u00e2m l\u00fd nh\u00e0 \u0111\u1ea7u t\u01b0.<\/p>\n<p>Khi \u0111\u01b0\u1eddng cong \u0111\u01b0\u1ee3c v\u1ebd, n\u00f3 t\u1ea1o th\u00e0nh c\u00e1c h\u00ecnh d\u1ea1ng ph\u1ea3n \u00e1nh t\u00e2m l\u00fd kinh t\u1ebf v\u0129 m\u00f4:<\/p>\n<p>\u2022 M\u1ed9t \u0111\u01b0\u1eddng cong t\u0103ng cho th\u1ea5y s\u1ef1 t\u1ef1 tin v\u00e0o t\u0103ng tr\u01b0\u1edfng trong t\u01b0\u01a1ng lai.<br \/>\n\u2022 M\u1ed9t \u0111\u01b0\u1eddng cong ph\u1eb3ng ho\u1eb7c \u0111\u1ea3o ng\u01b0\u1ee3c cho th\u1ea5y s\u1ef1 th\u1eadn tr\u1ecdng, b\u00e1o hi\u1ec7u nh\u1eefng lo ng\u1ea1i nh\u01b0 GDP ch\u1eadm l\u1ea1i ho\u1eb7c t\u0103ng l\u00e3i su\u1ea5t m\u1ea1nh m\u1ebd.<\/p>\n<h3>T\u1ea1i Sao N\u00f3 Quan Tr\u1ecdng \u0110\u1ed1i V\u1edbi C\u00e1c Nh\u00e0 Giao D\u1ecbch:<\/h3>\n<p>\u2022 N\u00f3 ti\u1ebft l\u1ed9 n\u01a1i d\u00f2ng ti\u1ec1n t\u1ed5 ch\u1ee9c \u0111ang ch\u1ea3y.<br \/>\n\u2022 N\u00f3 gi\u00fap \u0111\u00e1nh gi\u00e1 c\u00e1c \u0111\u1ed9ng th\u00e1i s\u1eafp t\u1edbi trong l\u00e3i su\u1ea5t v\u00e0 l\u1ea1m ph\u00e1t.<br \/>\n\u2022 N\u00f3 cung c\u1ea5p c\u00e1c thi\u1ebft l\u1eadp cho c\u00e1c chi\u1ebfn l\u01b0\u1ee3c nh\u01b0 d\u1ed1c l\u00ean, d\u1ed1c xu\u1ed1ng v\u00e0 giao d\u1ecbch b\u01b0\u1edbm.<\/p>\n<p>Thay v\u00ec ch\u1ea1y theo c\u00e1c t\u00edn hi\u1ec7u ng\u1eafn h\u1ea1n, c\u00e1c nh\u00e0 giao d\u1ecbch s\u1eed d\u1ee5ng \u0111\u01b0\u1eddng cong \u0111\u1ec3 hi\u1ec3u c\u00e1ch th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu \u0111\u1ecbnh gi\u00e1 t\u01b0\u01a1ng lai \u2014 v\u00e0 \u0111\u1ecbnh v\u1ecb tr\u01b0\u1edbc \u0111\u00e1m \u0111\u00f4ng.<\/p>\n<h2>\ud83d\udcca C\u1ea5u Tr\u00fac \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t: Nh\u1eefng H\u00ecnh D\u1ea1ng Th\u1ef1c S\u1ef1 N\u00f3i G\u00ec V\u1edbi B\u1ea1n<\/h2>\n<p>\u0110\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t bi\u1ec3u \u0111\u1ed3 k\u1ef9 thu\u1eadt \u2014 n\u00f3 l\u00e0 m\u1ed9t tia X t\u00e2m l\u00fd c\u1ee7a th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu. \u0110\u1ed9 d\u1ed1c v\u00e0 h\u00ecnh d\u1ea1ng c\u1ee7a n\u00f3 th\u01b0\u1eddng thay \u0111\u1ed5i tr\u01b0\u1edbc c\u00e1c \u0111i\u1ec3m ngo\u1eb7t l\u1edbn trong n\u1ec1n kinh t\u1ebf v\u00e0 th\u1ecb tr\u01b0\u1eddng.<\/p>\n<h3>\u2705 \u0110\u01b0\u1eddng Cong T\u0103ng (B\u00ecnh Th\u01b0\u1eddng)<\/h3>\n<p>C\u1ea5u tr\u00fac n\u00e0y c\u00f3 ngh\u0129a l\u00e0 tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n c\u00f3 l\u1ee3i su\u1ea5t cao h\u01a1n tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n. N\u00f3 th\u01b0\u1eddng \u0111\u01b0\u1ee3c th\u1ea5y trong c\u00e1c giai \u0111o\u1ea1n m\u1edf r\u1ed9ng, khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t v\u00e0 t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf trong t\u01b0\u01a1ng lai.<\/p>\n<p>\ud83d\udca1 <strong>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch:<\/strong> \u0110i\u1ec1u n\u00e0y \u1ee7ng h\u1ed9 c\u00e1c chi\u1ebfn l\u01b0\u1ee3c r\u1ee7i ro, \u0111\u1eb7c bi\u1ec7t l\u00e0 c\u00e1c giao d\u1ecbch d\u1ed1c l\u00ean, h\u01b0\u1edfng l\u1ee3i t\u1eeb s\u1ef1 ch\u00eanh l\u1ec7ch l\u1ee3i su\u1ea5t m\u1edf r\u1ed9ng gi\u1eefa tr\u00e1i phi\u1ebfu 2 n\u0103m v\u00e0 10 n\u0103m.<\/p>\n<h3>\u26a0\ufe0f \u0110\u01b0\u1eddng Cong \u0110\u1ea3o Ng\u01b0\u1ee3c<\/h3>\n<p>Khi l\u1ee3i su\u1ea5t ng\u1eafn h\u1ea1n v\u01b0\u1ee3t qua l\u1ee3i su\u1ea5t d\u00e0i h\u1ea1n, th\u1ecb tr\u01b0\u1eddng ph\u00e1t t\u00edn hi\u1ec7u \u0111\u1ecf. S\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c n\u00e0y ph\u1ea3n \u00e1nh ni\u1ec1m tin c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t s\u1eafp t\u1edbi ho\u1eb7c m\u1ed9t cu\u1ed9c suy tho\u00e1i c\u00f3 th\u1ec3 x\u1ea3y ra.<\/p>\n<p>\ud83d\udca1 <strong>Chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch:<\/strong> V\u1ecb th\u1ebf ph\u00f2ng th\u1ee7. Tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n ho\u1eb7c c\u00e1c chi\u1ebfn l\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i t\u1eeb l\u1ee3i su\u1ea5t gi\u1ea3m tr\u1edf n\u00ean h\u1ea5p d\u1eabn.<\/p>\n<h3>\ud83d\udfe8 \u0110\u01b0\u1eddng Cong Ph\u1eb3ng<\/h3>\n<p>M\u1ed9t \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t ph\u1eb3ng c\u00f3 ngh\u0129a l\u00e0 l\u1ee3i su\u1ea5t tr\u00ean c\u00e1c k\u1ef3 h\u1ea1n g\u1ea7n nh\u01b0 gi\u1ed1ng nhau \u2014 d\u1ea5u hi\u1ec7u c\u1ee7a s\u1ef1 do d\u1ef1 ho\u1eb7c chuy\u1ec3n \u0111\u1ed5i ch\u00ednh s\u00e1ch.<\/p>\n<p>\ud83d\udca1 <strong>Thay \u0111\u1ed5i chi\u1ebfn l\u01b0\u1ee3c:<\/strong> Nhi\u1ec1u nh\u00e0 giao d\u1ecbch l\u00f9i l\u1ea1i ho\u1eb7c ph\u00f2ng ng\u1eeba c\u1ea3 hai \u0111\u1ea7u c\u1ee7a \u0111\u01b0\u1eddng cong, d\u1ef1 \u0111o\u00e1n m\u1ed9t s\u1ef1 ph\u00e1 v\u1ee1 cu\u1ed1i c\u00f9ng l\u00ean ho\u1eb7c xu\u1ed1ng.<\/p>\n<p>Nh\u1eefng h\u00ecnh d\u1ea1ng n\u00e0y kh\u00f4ng bao gi\u1edd ng\u1eabu nhi\u00ean. Ch\u00fang v\u1ebd b\u1ea3n \u0111\u1ed3 c\u00e1ch c\u00e1c t\u1ed5 ch\u1ee9c \u2014 v\u00e0 ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng \u2014 \u0111\u1ecbnh gi\u00e1 t\u01b0\u01a1ng lai. Ph\u00e1t hi\u1ec7n s\u1ef1 thay \u0111\u1ed5i c\u1ee7a ch\u00fang trong th\u1eddi gian th\u1ef1c mang l\u1ea1i cho b\u1ea1n l\u1ee3i th\u1ebf chi\u1ebfn l\u01b0\u1ee3c m\u00e0 \u00edt nh\u00e0 giao d\u1ecbch b\u00e1n l\u1ebb c\u00f3 \u0111\u01b0\u1ee3c.<\/p>\n<h2>\ud83d\udcc8 Giao D\u1ecbch \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t: Thi\u1ebft L\u1eadp D\u1ed1c L\u00ean v\u00e0 D\u1ed1c Xu\u1ed1ng<\/h2>\n<p>C\u00e1c nh\u00e0 giao d\u1ecbch tr\u00e1i phi\u1ebfu kh\u00f4ng ch\u1ec9 quan s\u00e1t \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t \u2014 h\u1ecd h\u00e0nh \u0111\u1ed9ng d\u1ef1a tr\u00ean s\u1ef1 thay \u0111\u1ed5i \u0111\u1ed9ng c\u1ee7a n\u00f3. Hai trong s\u1ed1 c\u00e1c m\u00f4 h\u00ecnh m\u1ea1nh m\u1ebd nh\u1ea5t l\u00e0 d\u1ed1c l\u00ean v\u00e0 d\u1ed1c xu\u1ed1ng. M\u1ed7i m\u00f4 h\u00ecnh ch\u1ec9 ra c\u00e1c c\u00e2u chuy\u1ec7n kinh t\u1ebf kh\u00e1c nhau v\u00e0 cung c\u1ea5p c\u01a1 h\u1ed9i giao d\u1ecbch c\u00f3 x\u00e1c su\u1ea5t cao.<\/p>\n<h3>\ud83d\udd3a Khi \u0110\u01b0\u1eddng Cong D\u1ed1c L\u00ean<\/h3>\n<p>M\u1ed9t \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t d\u1ed1c l\u00ean cho th\u1ea5y l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n \u0111ang t\u0103ng nhanh h\u01a1n l\u00e3i su\u1ea5t ng\u1eafn h\u1ea1n. \u0110i\u1ec1u n\u00e0y th\u01b0\u1eddng ph\u1ea3n \u00e1nh s\u1ef1 l\u1ea1c quan v\u1ec1 t\u0103ng tr\u01b0\u1edfng trong t\u01b0\u01a1ng lai ho\u1eb7c k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t \u0111ang t\u0103ng l\u00ean.<\/p>\n<p><strong>T\u00edn hi\u1ec7u ch\u00ednh:<\/strong><br \/>\n\u2022 L\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n t\u0103ng sau c\u00e1c t\u00edn hi\u1ec7u \u00f4n h\u00f2a t\u1eeb Fed<br \/>\n\u2022 Nhu c\u1ea7u \u0111\u1ed1i v\u1edbi n\u1ee3 d\u00e0i h\u1ea1n gi\u1ea3m<br \/>\n\u2022 H\u00e0ng h\u00f3a t\u0103ng gi\u00e1<\/p>\n<p><strong>Thi\u1ebft l\u1eadp giao d\u1ecbch:<\/strong><br \/>\n\u2022 Mua tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n (2Y), b\u00e1n tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n (10Y ho\u1eb7c 30Y)<br \/>\n\u2022 Mua c\u1ed5 phi\u1ebfu chu k\u1ef3 (c\u00f4ng nghi\u1ec7p, n\u0103ng l\u01b0\u1ee3ng), b\u00e1n c\u00e1c ng\u00e0nh c\u00f3 beta th\u1ea5p<br \/>\n\u2022 L\u1ea1c quan v\u1ec1 t\u00e0i s\u1ea3n nh\u1ea1y c\u1ea3m v\u1edbi l\u1ea1m ph\u00e1t<\/p>\n<h3>\ud83d\udd3b Khi \u0110\u01b0\u1eddng Cong D\u1ed1c Xu\u1ed1ng<\/h3>\n<p>D\u1ed1c xu\u1ed1ng ng\u1ee5 \u00fd l\u1ee3i su\u1ea5t ng\u1eafn h\u1ea1n \u0111ang b\u1eaft k\u1ecbp (ho\u1eb7c v\u01b0\u1ee3t qua) l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n \u2014 m\u1ed9t d\u1ea5u hi\u1ec7u ph\u1ed5 bi\u1ebfn c\u1ee7a th\u1eaft ch\u1eb7t ti\u1ec1n t\u1ec7 ho\u1eb7c suy tho\u00e1i kinh t\u1ebf.<\/p>\n<p><strong>T\u00edn hi\u1ec7u ch\u00ednh:<\/strong><br \/>\n\u2022 T\u0103ng l\u00e3i su\u1ea5t c\u1ee7a Fed \u0111\u1ea9y l\u1ee3i su\u1ea5t ng\u1eafn h\u1ea1n l\u00ean<br \/>\n\u2022 Nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm an to\u00e0n trong tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n<br \/>\n\u2022 Th\u1ecb tr\u01b0\u1eddng \u0111\u1ecbnh gi\u00e1 r\u1ee7i ro suy tho\u00e1i<\/p>\n<p><strong>Thi\u1ebft l\u1eadp giao d\u1ecbch:<\/strong><br \/>\n\u2022 Mua tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n (v\u00ed d\u1ee5: TLT), b\u00e1n tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n<br \/>\n\u2022 Mua c\u1ed5 phi\u1ebfu ph\u00f2ng th\u1ee7 (ch\u0103m s\u00f3c s\u1ee9c kh\u1ecfe, ti\u1ec7n \u00edch)<br \/>\n\u2022 Ch\u01a1i n\u00e9n ch\u00eanh l\u1ec7ch th\u00f4ng qua h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai ho\u1eb7c c\u1eb7p ETF<\/p>\n<p>\ud83d\udca1 <strong>L\u1ee3i th\u1ebf chi\u1ebfn thu\u1eadt:<\/strong> \u0110\u1eebng giao d\u1ecbch m\u1ed9t c\u00e1ch m\u00f9 qu\u00e1ng \u2014 theo d\u00f5i c\u00e1c ph\u00e1t bi\u1ec3u c\u1ee7a Fed, CPI v\u00e0 ch\u00eanh l\u1ec7ch l\u1ee3i su\u1ea5t. \u0110\u01b0\u1eddng cong di chuy\u1ec3n v\u00ec k\u1ef3 v\u1ecdng, kh\u00f4ng ch\u1ec9 v\u00ec c\u00e1c con s\u1ed1.<\/p>\n<h2>\ud83d\udcd0 Ch\u00eanh L\u1ec7ch L\u1ee3i Su\u1ea5t v\u00e0 Xoay V\u00f2ng D\u1ef1a Tr\u00ean Th\u1eddi H\u1ea1n<\/h2>\n<p>Ch\u00eanh l\u1ec7ch l\u1ee3i su\u1ea5t \u2014 nh\u01b0 2s10s, 5s30s, ho\u1eb7c 10s30s \u2014 kh\u00f4ng ch\u1ec9 l\u00e0 to\u00e1n h\u1ecdc. Ch\u00fang ph\u1ea3n \u00e1nh c\u00e1ch th\u1ecb tr\u01b0\u1eddng nh\u1eadn th\u1ee9c ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7, r\u1ee7i ro t\u0103ng tr\u01b0\u1edfng v\u00e0 k\u1ef3 v\u1ecdng l\u00e3i su\u1ea5t tr\u00ean c\u00e1c khung th\u1eddi gian kh\u00e1c nhau. C\u00e1c nh\u00e0 giao d\u1ecbch s\u1eed d\u1ee5ng c\u00e1c ch\u00eanh l\u1ec7ch n\u00e0y \u0111\u1ec3 xoay v\u00f2ng v\u1ed1n gi\u1eefa c\u00e1c c\u00f4ng c\u1ee5 c\u00f3 m\u1ee9c \u0111\u1ed9 ph\u01a1i nhi\u1ec5m th\u1eddi h\u1ea1n kh\u00e1c nhau.<\/p>\n<h3>\ud83d\udd0d Hi\u1ec3u V\u1ec1 Ch\u00eanh L\u1ec7ch L\u1ee3i Su\u1ea5t<\/h3>\n<p>\u2022 <strong>Ch\u00eanh l\u1ec7ch 2s10s:<\/strong> \u0110o l\u01b0\u1eddng s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu 2 n\u0103m v\u00e0 10 n\u0103m.<\/p>\n<ul>\n<li>M\u1ed9t ch\u00eanh l\u1ec7ch thu h\u1eb9p c\u00f3 th\u1ec3 b\u00e1o hi\u1ec7u s\u1ef1 ch\u1eadm l\u1ea1i s\u1eafp t\u1edbi.<\/li>\n<li>S\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c th\u01b0\u1eddng x\u1ea3y ra tr\u01b0\u1edbc c\u00e1c cu\u1ed9c suy tho\u00e1i.<\/li>\n<\/ul>\n<p>\u2022 <strong>Ch\u00eanh l\u1ec7ch 5s30s:<\/strong> Cho th\u1ea5y t\u00e2m l\u00fd d\u00e0i h\u1ea1n s\u00e2u h\u01a1n.<\/p>\n<ul>\n<li>D\u1ed1c l\u00ean trong c\u00e1c giao d\u1ecbch t\u00e1i l\u1ea1m ph\u00e1t.<\/li>\n<li>D\u1ed1c xu\u1ed1ng khi th\u1ecb tr\u01b0\u1eddng k\u1ef3 v\u1ecdng s\u1ef1 tr\u00ec tr\u1ec7 d\u00e0i h\u1ea1n ho\u1eb7c QE.<\/li>\n<\/ul>\n<h3>\ud83e\udde0 Logic Giao D\u1ecbch D\u1ef1a Tr\u00ean Th\u1eddi H\u1ea1n<\/h3>\n<p>Th\u1eddi h\u1ea1n c\u1ee7a tr\u00e1i phi\u1ebfu c\u00e0ng d\u00e0i, n\u00f3 c\u00e0ng nh\u1ea1y c\u1ea3m v\u1edbi s\u1ef1 thay \u0111\u1ed5i l\u00e3i su\u1ea5t (th\u1eddi h\u1ea1n cao h\u01a1n). C\u00e1c nh\u00e0 giao d\u1ecbch ph\u00f2ng ng\u1eeba r\u1ee7i ro l\u00e3i su\u1ea5t ho\u1eb7c \u0111\u1ea7u c\u01a1 v\u00e0o c\u00e1c \u0111i\u1ec3m xoay ch\u00ednh s\u00e1ch b\u1eb1ng c\u00e1ch xoay v\u00f2ng tr\u00ean \u0111\u01b0\u1eddng cong:<\/p>\n<p>\u2022 <strong>Ch\u01a1i d\u1ed1c xu\u1ed1ng:<\/strong> Mua 30Y \/ B\u00e1n 5Y<br \/>\n\u2022 <strong>Ch\u01a1i d\u1ed1c l\u00ean:<\/strong> B\u00e1n 30Y \/ Mua 5Y<br \/>\n\u2022 <strong>S\u1eed d\u1ee5ng h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai<\/strong> nh\u01b0 ZF (5Y), ZN (10Y), ZB (30Y) cho c\u00e1c giao d\u1ecbch \u0111\u01b0\u1eddng cong c\u00f3 \u0111\u00f2n b\u1ea9y.<\/p>\n<h3>\u26a0\ufe0f C\u1ea9n Th\u1eadn V\u1edbi C\u00e1c T\u00edn Hi\u1ec7u &#8220;Gi\u1ea3&#8221;<\/h3>\n<p>\u0110\u00f4i khi, \u0111\u01b0\u1eddng cong d\u1ed1c xu\u1ed1ng do c\u00e1c bi\u1ebfn d\u1ea1ng QE ho\u1eb7c n\u00e9n l\u1ee3i su\u1ea5t to\u00e0n c\u1ea7u \u2014 kh\u00f4ng ph\u1ea3i suy tho\u00e1i. Lu\u00f4n ki\u1ec3m tra ch\u00e9o v\u1edbi ch\u00eanh l\u1ec7ch t\u00edn d\u1ee5ng, b\u1ea5t ng\u1edd kinh t\u1ebf v\u00e0 k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t.<\/p>\n<h2>\ud83d\udd04 Di\u1ec5n Gi\u1ea3i \u0110\u1ea3o Ng\u01b0\u1ee3c \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t Cho C\u00e1c Nh\u00e0 Giao D\u1ecbch<\/h2>\n<p>M\u1ed9t trong nh\u1eefng t\u00edn hi\u1ec7u \u0111\u01b0\u1ee3c th\u1ea3o lu\u1eadn nhi\u1ec1u nh\u1ea5t \u2014 v\u00e0 th\u01b0\u1eddng b\u1ecb hi\u1ec3u sai \u2014 trong giao d\u1ecbch v\u0129 m\u00f4 l\u00e0 s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t. N\u00f3 x\u1ea3y ra khi l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n v\u01b0\u1ee3t qua l\u1ee3i su\u1ea5t d\u00e0i h\u1ea1n, cho th\u1ea5y s\u1ef1 thay \u0111\u1ed5i trong k\u1ef3 v\u1ecdng th\u1ecb tr\u01b0\u1eddng.<\/p>\n<p>Thay v\u00ec th\u1ec3 hi\u1ec7n s\u1ef1 l\u1ea1c quan, s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c n\u00e0y th\u01b0\u1eddng ph\u1ea3n \u00e1nh n\u1ed7i s\u1ee3 h\u00e3i v\u1ec1 s\u1ef1 ch\u1eadm l\u1ea1i c\u1ee7a n\u1ec1n kinh t\u1ebf.<\/p>\n<h3>\ud83d\udcc9 N\u00f3 Th\u1ef1c S\u1ef1 N\u00f3i G\u00ec V\u1edbi Ch\u00fang Ta<\/h3>\n<p>M\u1ed9t \u0111\u01b0\u1eddng cong \u0111\u1ea3o ng\u01b0\u1ee3c kh\u00f4ng ph\u1ea3i l\u00e0 &#8220;ti\u1ec1n mi\u1ec5n ph\u00ed&#8221; tr\u00ean tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n. N\u00f3 l\u00e0 m\u1ed9t d\u1ea5u hi\u1ec7u r\u1eb1ng:<\/p>\n<p>\u2022 C\u00e1c nh\u00e0 giao d\u1ecbch k\u1ef3 v\u1ecdng t\u0103ng tr\u01b0\u1edfng y\u1ebfu h\u01a1n ph\u00eda tr\u01b0\u1edbc<br \/>\n\u2022 Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u00f3 th\u1ec3 bu\u1ed9c ph\u1ea3i c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t<br \/>\n\u2022 R\u1ee7i ro d\u00e0i h\u1ea1n \u0111\u01b0\u1ee3c coi l\u00e0 th\u1ea5p h\u01a1n so v\u1edbi r\u1ee7i ro ngay l\u1eadp t\u1ee9c<\/p>\n<p>N\u00f3 l\u1eadt ng\u01b0\u1ee3c logic c\u1ee7a th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu \u2014 v\u00e0 \u0111\u00f3 ch\u00ednh l\u00e0 l\u00fd do t\u1ea1i sao n\u00f3 quan tr\u1ecdng.<\/p>\n<h3>\ud83d\udee0 \u00dd Ngh\u0129a Giao D\u1ecbch<\/h3>\n<p>\u2022 <strong>Mua th\u1eddi h\u1ea1n:<\/strong> Tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n th\u01b0\u1eddng t\u0103ng gi\u00e1 sau khi \u0111\u1ea3o ng\u01b0\u1ee3c<br \/>\n\u2022 <strong>\u0110\u1ecbnh v\u1ecb cho bi\u1ebfn \u0111\u1ed9ng:<\/strong> C\u00e1c qu\u1ef9 v\u0129 m\u00f4 c\u00f3 th\u1ec3 ph\u00f2ng ng\u1eeba r\u1ee7i ro m\u1ea1nh m\u1ebd<br \/>\n\u2022 <strong>Theo d\u00f5i ch\u00eanh l\u1ec7ch:<\/strong> 2s10s v\u00e0 3m10y l\u00e0 c\u00e1c ch\u1ec9 b\u00e1o suy tho\u00e1i quan tr\u1ecdng<\/p>\n<p>S\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kh\u00f4ng g\u00e2y ra suy tho\u00e1i \u2014 ch\u00fang d\u1ef1 b\u00e1o k\u1ef3 v\u1ecdng c\u1ee7a d\u00f2ng ti\u1ec1n th\u00f4ng minh \u0111ang chu\u1ea9n b\u1ecb cho m\u1ed9t cu\u1ed9c suy tho\u00e1i.<\/p>\n<p>Khi k\u1ebft h\u1ee3p v\u1edbi d\u1eef li\u1ec7u x\u1ea5u \u0111i (v\u00ed d\u1ee5: vi\u1ec7c l\u00e0m, ch\u00eanh l\u1ec7ch t\u00edn d\u1ee5ng), m\u1ed9t s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c tr\u1edf th\u00e0nh m\u1ed9t t\u00edn hi\u1ec7u x\u00e1c nh\u1eadn m\u1ea1nh m\u1ebd cho c\u00e1c thay \u0111\u1ed5i chi\u1ebfn thu\u1eadt.<\/p>\n<h2>\ud83d\udcc8 Chi\u1ebfn L\u01b0\u1ee3c Giao D\u1ecbch \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t Th\u1ef1c Ti\u1ec5n<\/h2>\n<p>B\u00e2y gi\u1edd h\u00e3y chuy\u1ec3n t\u1eeb l\u00fd thuy\u1ebft sang \u1ee9ng d\u1ee5ng th\u1ef1c t\u1ebf. L\u00e0m th\u1ebf n\u00e0o c\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 ch\u1ee7 \u0111\u1ed9ng t\u1eadn d\u1ee5ng c\u00e1c t\u00edn hi\u1ec7u t\u1eeb \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t \u0111\u1ec3 x\u00e2y d\u1ef1ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c c\u00f3 l\u1ee3i nhu\u1eadn?<\/p>\n<p>D\u01b0\u1edbi \u0111\u00e2y l\u00e0 ba c\u00e1ch ti\u1ebfp c\u1eadn ch\u00ednh:<\/p>\n<h3>1. Giao D\u1ecbch D\u1ed1c L\u00ean<\/h3>\n<p>Khi ch\u00eanh l\u1ec7ch gi\u1eefa l\u1ee3i su\u1ea5t ng\u1eafn h\u1ea1n v\u00e0 d\u00e0i h\u1ea1n m\u1edf r\u1ed9ng, n\u00f3 b\u00e1o hi\u1ec7u k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t t\u0103ng ho\u1eb7c s\u1ef1 thay \u0111\u1ed5i trong ch\u00ednh s\u00e1ch ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng.<\/p>\n<p><strong>C\u00e1ch giao d\u1ecbch:<\/strong><br \/>\n\u2022 Mua tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n (v\u00ed d\u1ee5: tr\u00e1i phi\u1ebfu kho b\u1ea1c 10 n\u0103m ho\u1eb7c 30 n\u0103m)<br \/>\n\u2022 B\u00e1n tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n (v\u00ed d\u1ee5: ghi ch\u00fa 2 n\u0103m)<br \/>\n\u2022 S\u1eed d\u1ee5ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c d\u1ef1a tr\u00ean ch\u00eanh l\u1ec7ch nh\u01b0 giao d\u1ecbch \u0111\u01b0\u1eddng cong t\u01b0\u01a1ng lai ho\u1eb7c quy\u1ec1n ch\u1ecdn tr\u00ean ETF tr\u00e1i phi\u1ebfu<\/p>\n<p>Chi\u1ebfn l\u01b0\u1ee3c n\u00e0y h\u01b0\u1edfng l\u1ee3i t\u1eeb m\u1ed9t \u0111\u01b0\u1eddng cong d\u1ed1c l\u00ean khi l\u1ea1m ph\u00e1t ho\u1eb7c t\u0103ng tr\u01b0\u1edfng \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng t\u0103ng.<\/p>\n<h3>2. Giao D\u1ecbch D\u1ed1c Xu\u1ed1ng<\/h3>\n<p>Khi \u0111\u01b0\u1eddng cong b\u1eaft \u0111\u1ea7u d\u1ed1c xu\u1ed1ng, th\u1ecb tr\u01b0\u1eddng th\u01b0\u1eddng \u0111\u1ecbnh gi\u00e1 m\u1ed9t n\u1ec1n kinh t\u1ebf ch\u1eadm l\u1ea1i ho\u1eb7c ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u1eaft ch\u1eb7t h\u01a1n.<\/p>\n<p><strong>Thi\u1ebft l\u1eadp chi\u1ebfn thu\u1eadt:<\/strong><br \/>\n\u2022 B\u00e1n l\u1ee3i su\u1ea5t d\u00e0i h\u1ea1n<br \/>\n\u2022 Mua l\u1ee3i su\u1ea5t ng\u1eafn h\u1ea1n<br \/>\n\u2022 Th\u1ef1c hi\u1ec7n v\u1edbi h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai, ho\u00e1n \u0111\u1ed5i, ho\u1eb7c ETF d\u1ed1c xu\u1ed1ng<\/p>\n<p>Thi\u1ebft l\u1eadp n\u00e0y ph\u1ed5 bi\u1ebfn trong s\u1ed1 c\u00e1c ng\u01b0\u1eddi ch\u01a1i t\u1ed5 ch\u1ee9c chu\u1ea9n b\u1ecb cho th\u1eaft ch\u1eb7t kinh t\u1ebf v\u0129 m\u00f4.<\/p>\n<h3>3. S\u1eed D\u1ee5ng \u0110\u1ea3o Ng\u01b0\u1ee3c L\u00e0m K\u00edch Ho\u1ea1t<\/h3>\n<p>M\u1ed9t \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t \u0111\u1ea3o ng\u01b0\u1ee3c kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t c\u1ea3nh b\u00e1o \u2014 n\u00f3 l\u00e0 m\u1ed9t l\u1eddi k\u00eau g\u1ecdi c\u00e2n b\u1eb1ng l\u1ea1i:<\/p>\n<p>\u2022 Gi\u1ea3m ph\u01a1i nhi\u1ec5m v\u1edbi c\u1ed5 phi\u1ebfu chu k\u1ef3<br \/>\n\u2022 T\u0103ng ph\u00e2n b\u1ed5 v\u00e0o t\u00e0i s\u1ea3n an to\u00e0n nh\u01b0 v\u00e0ng v\u00e0 tr\u00e1i phi\u1ebfu<br \/>\n\u2022 Chu\u1ea9n b\u1ecb cho vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng quy\u1ec1n ch\u1ecdn d\u00e0i h\u1ea1n ho\u1eb7c ghi ch\u00fa c\u1ea5u tr\u00fac<\/p>\n<p>\ud83d\udca1 <strong>\u0110\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kh\u00f4ng ch\u1ec9 l\u00e0 v\u1ec1 l\u00e3i su\u1ea5t \u2014 n\u00f3 l\u00e0 m\u1ed9t ch\u1ec9 b\u00e1o t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng h\u01b0\u1edbng v\u1ec1 ph\u00eda tr\u01b0\u1edbc. L\u00e0m ch\u1ee7 n\u00f3 c\u00f3 ngh\u0129a l\u00e0 d\u1ef1 \u0111o\u00e1n nh\u1eefng g\u00ec ng\u01b0\u1eddi kh\u00e1c ch\u01b0a ph\u1ea3n \u1ee9ng.<br \/>\n<\/strong><\/p>\n<h2><div class=\"po-container po-container_width_article\">\n   <div class=\"po-cta-green__wrap\">\n      <a href=\"https:\/\/pocketoption.com\/vt\/register\/\" class=\"po-cta-green\">Start trading\n         <span class=\"po-cta-green__icon\">\n            <svg width=\"24\" height=\"24\" fill=\"none\" aria-hidden=\"true\">\n               <use href=\"#svg-arrow-cta\"><\/use>\n            <\/svg>\n         <\/span>\n      <\/a>\n   <\/div>\n<\/div><\/h2>\n<h2>\ud83e\udde0 K\u1ebft Lu\u1eadn: \u0110\u01b0\u1eddng Cong Ph\u00eda Tr\u01b0\u1edbc \u2014 Bi\u1ebft \u0110\u01b0\u1eddng \u0110i<\/h2>\n<p>Hi\u1ec3u v\u1ec1 \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kho b\u1ea1c kh\u00f4ng ch\u1ec9 d\u00e0nh cho c\u00e1c nh\u00e0 kinh t\u1ebf h\u1ecdc ho\u1eb7c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng \u2014 n\u00f3 l\u00e0 m\u1ed9t khung m\u1ea1nh m\u1ebd cho b\u1ea5t k\u1ef3 nh\u00e0 giao d\u1ecbch n\u00e0o mu\u1ed1n gi\u1ea3i m\u00e3 \u0111i\u1ec1u ki\u1ec7n v\u0129 m\u00f4 v\u00e0 \u0111i tr\u01b0\u1edbc c\u00e1c thay \u0111\u1ed5i l\u1edbn trong t\u00e2m l\u00fd.<\/p>\n<p>D\u00f9 b\u1ea1n \u0111ang ph\u00f2ng ng\u1eeba r\u1ee7i ro suy tho\u00e1i, \u0111\u1eb7t c\u01b0\u1ee3c v\u00e0o s\u1ef1 ph\u1ee5c h\u1ed3i kinh t\u1ebf, hay xoay v\u00f2ng gi\u1eefa c\u00e1c ng\u00e0nh \u2014 l\u00e0m ch\u1ee7 c\u00e1c t\u00edn hi\u1ec7u \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t mang l\u1ea1i cho b\u1ea1n l\u1ee3i th\u1ebf d\u00e0i h\u1ea1n trong b\u1ea5t k\u1ef3 lo\u1ea1i t\u00e0i s\u1ea3n n\u00e0o.<\/p>\n<p>Nh\u01b0 m\u1ecdi khi, h\u00e3y lu\u00f4n c\u1eadp nh\u1eadt th\u00f4ng tin, chi\u1ebfn thu\u1eadt v\u00e0 giao d\u1ecbch c\u00f3 m\u1ee5c \u0111\u00edch.<\/p>\n<h2>\ud83d\udcda T\u00e0i Li\u1ec7u Tham Kh\u1ea3o<\/h2>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li>D\u1eef li\u1ec7u Kinh t\u1ebf c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (FRED) \u2013 <a href=\"https:\/\/fred.stlouisfed.org\" target=\"_blank\" rel=\"noopener\">https:\/\/fred.stlouisfed.org<\/a><\/li>\n<li>B\u1ed9 T\u00e0i ch\u00ednh Hoa K\u1ef3 \u2013 <a href=\"https:\/\/home.treasury.gov\" target=\"_blank\" rel=\"noopener\">https:\/\/home.treasury.gov<\/a><\/li>\n<li>Investopedia \u2013 <a href=\"https:\/\/www.investopedia.com\" target=\"_blank\" rel=\"noopener\">https:\/\/www.investopedia.com<\/a><\/li>\n<li>C\u00f4ng c\u1ee5 \u0110\u01b0\u1eddng Cong L\u1ee3i Su\u1ea5t c\u1ee7a CME Group \u2013 <a href=\"https:\/\/www.cmegroup.com\" target=\"_blank\" rel=\"noopener\">https:\/\/www.cmegroup.com<\/a><\/li>\n<li>Ph\u00e2n T\u00edch Th\u1ecb Tr\u01b0\u1eddng Nasdaq \u2013 <a href=\"https:\/\/www.nasdaq.com\" target=\"_blank\" rel=\"noopener\">https:\/\/www.nasdaq.com<\/a><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n"},"faq":[{"question":"\u0110\u01b0\u1eddng cong l\u1ee3i su\u1ea5t d\u1ed1c c\u00f3 \u00fd ngh\u0129a g\u00ec \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch?","answer":"\u0110\u01b0\u1eddng cong l\u1ee3i su\u1ea5t d\u1ed1c cho th\u1ea5y c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 k\u1ef3 v\u1ecdng t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf m\u1ea1nh m\u1ebd h\u01a1n v\u00e0 l\u1ea1m ph\u00e1t gia t\u0103ng. \u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch, \u0111i\u1ec1u n\u00e0y th\u01b0\u1eddng l\u00e0 t\u00edn hi\u1ec7u xanh cho c\u00e1c giao d\u1ecbch t\u0103ng gi\u00e1 trong c\u00e1c t\u00e0i s\u1ea3n r\u1ee7i ro v\u00e0 tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n."},{"question":"\u0110\u1ed9 tin c\u1eady c\u1ee7a s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t nh\u01b0 m\u1ed9t t\u00edn hi\u1ec7u suy tho\u00e1i l\u00e0 nh\u01b0 th\u1ebf n\u00e0o?","answer":"Theo l\u1ecbch s\u1eed, s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t \u0111\u00e3 x\u1ea3y ra tr\u01b0\u1edbc h\u1ea7u h\u1ebft c\u00e1c cu\u1ed9c suy tho\u00e1i l\u1edbn. M\u1eb7c d\u00f9 th\u1eddi gian c\u00f3 th\u1ec3 kh\u00e1c nhau, nh\u01b0ng n\u00f3 v\u1eabn l\u00e0 m\u1ed9t trong nh\u1eefng ch\u1ec9 b\u00e1o h\u00e0ng \u0111\u1ea7u nh\u1ea5t qu\u00e1n nh\u1ea5t c\u1ee7a c\u00e1c cu\u1ed9c suy tho\u00e1i kinh t\u1ebf."},{"question":"C\u00e1c nh\u00e0 giao d\u1ecbch b\u00e1n l\u1ebb c\u00f3 th\u1ec3 ti\u1ebfp c\u1eadn c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kh\u00f4ng?","answer":"V\u00e2ng. C\u00e1c nh\u00e0 giao d\u1ecbch b\u00e1n l\u1ebb c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng ETF, h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai tr\u00e1i phi\u1ebfu, ho\u1eb7c ho\u00e1n \u0111\u1ed5i l\u00e3i su\u1ea5t \u0111\u1ec3 ph\u1ea3n \u00e1nh c\u00e1c chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a t\u1ed5 ch\u1ee9c. Nhi\u1ec1u n\u1ec1n t\u1ea3ng cung c\u1ea5p c\u00f4ng c\u1ee5 \u0111\u1ec3 ph\u00e2n t\u00edch c\u00e1c giao d\u1ecbch ch\u00eanh l\u1ec7ch v\u00e0 s\u1ef1 thay \u0111\u1ed5i v\u0129 m\u00f4."},{"question":"Giao d\u1ecbch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t t\u1ed1t h\u01a1n cho chi\u1ebfn l\u01b0\u1ee3c d\u00e0i h\u1ea1n hay ng\u1eafn h\u1ea1n?","answer":"N\u00f3 ch\u1ee7 y\u1ebfu l\u00e0 m\u1ed9t c\u00f4ng c\u1ee5 \u1edf c\u1ea5p \u0111\u1ed9 v\u0129 m\u00f4, l\u00fd t\u01b0\u1edfng cho giao d\u1ecbch swing ho\u1eb7c c\u00e2n b\u1eb1ng l\u1ea1i danh m\u1ee5c \u0111\u1ea7u t\u01b0. Tuy nhi\u00ean, c\u00e1c nh\u00e0 giao d\u1ecbch trong ng\u00e0y v\u1eabn c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng s\u1ef1 thay \u0111\u1ed5i \u0111\u01b0\u1eddng cong nh\u01b0 m\u1ed9t b\u1ed1i c\u1ea3nh \u0111\u1ec3 qu\u1ea3n l\u00fd r\u1ee7i ro ho\u1eb7c x\u00e1c nh\u1eadn."},{"question":"S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t danh ngh\u0129a v\u00e0 th\u1ef1c l\u00e0 g\u00ec?","answer":"C\u00e1c \u0111\u01b0\u1eddng cong danh ngh\u0129a d\u1ef1a tr\u00ean l\u00e3i su\u1ea5t chu\u1ea9n c\u1ee7a Kho b\u1ea1c. C\u00e1c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t th\u1ef1c \u0111i\u1ec1u ch\u1ec9nh theo k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t (v\u00ed d\u1ee5, th\u00f4ng qua TIPS). C\u1ea3 hai \u0111\u1ec1u cung c\u1ea5p nh\u1eefng th\u00f4ng tin c\u00f3 gi\u00e1 tr\u1ecb nh\u01b0ng kh\u00e1c bi\u1ec7t v\u1ec1 c\u1ea3m nh\u1eadn th\u1ecb tr\u01b0\u1eddng."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"\u0110\u01b0\u1eddng cong l\u1ee3i su\u1ea5t d\u1ed1c c\u00f3 \u00fd ngh\u0129a g\u00ec \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch?","answer":"\u0110\u01b0\u1eddng cong l\u1ee3i su\u1ea5t d\u1ed1c cho th\u1ea5y c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 k\u1ef3 v\u1ecdng t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf m\u1ea1nh m\u1ebd h\u01a1n v\u00e0 l\u1ea1m ph\u00e1t gia t\u0103ng. \u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch, \u0111i\u1ec1u n\u00e0y th\u01b0\u1eddng l\u00e0 t\u00edn hi\u1ec7u xanh cho c\u00e1c giao d\u1ecbch t\u0103ng gi\u00e1 trong c\u00e1c t\u00e0i s\u1ea3n r\u1ee7i ro v\u00e0 tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n."},{"question":"\u0110\u1ed9 tin c\u1eady c\u1ee7a s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t nh\u01b0 m\u1ed9t t\u00edn hi\u1ec7u suy tho\u00e1i l\u00e0 nh\u01b0 th\u1ebf n\u00e0o?","answer":"Theo l\u1ecbch s\u1eed, s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t \u0111\u00e3 x\u1ea3y ra tr\u01b0\u1edbc h\u1ea7u h\u1ebft c\u00e1c cu\u1ed9c suy tho\u00e1i l\u1edbn. M\u1eb7c d\u00f9 th\u1eddi gian c\u00f3 th\u1ec3 kh\u00e1c nhau, nh\u01b0ng n\u00f3 v\u1eabn l\u00e0 m\u1ed9t trong nh\u1eefng ch\u1ec9 b\u00e1o h\u00e0ng \u0111\u1ea7u nh\u1ea5t qu\u00e1n nh\u1ea5t c\u1ee7a c\u00e1c cu\u1ed9c suy tho\u00e1i kinh t\u1ebf."},{"question":"C\u00e1c nh\u00e0 giao d\u1ecbch b\u00e1n l\u1ebb c\u00f3 th\u1ec3 ti\u1ebfp c\u1eadn c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t kh\u00f4ng?","answer":"V\u00e2ng. C\u00e1c nh\u00e0 giao d\u1ecbch b\u00e1n l\u1ebb c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng ETF, h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai tr\u00e1i phi\u1ebfu, ho\u1eb7c ho\u00e1n \u0111\u1ed5i l\u00e3i su\u1ea5t \u0111\u1ec3 ph\u1ea3n \u00e1nh c\u00e1c chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a t\u1ed5 ch\u1ee9c. Nhi\u1ec1u n\u1ec1n t\u1ea3ng cung c\u1ea5p c\u00f4ng c\u1ee5 \u0111\u1ec3 ph\u00e2n t\u00edch c\u00e1c giao d\u1ecbch ch\u00eanh l\u1ec7ch v\u00e0 s\u1ef1 thay \u0111\u1ed5i v\u0129 m\u00f4."},{"question":"Giao d\u1ecbch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t t\u1ed1t h\u01a1n cho chi\u1ebfn l\u01b0\u1ee3c d\u00e0i h\u1ea1n hay ng\u1eafn h\u1ea1n?","answer":"N\u00f3 ch\u1ee7 y\u1ebfu l\u00e0 m\u1ed9t c\u00f4ng c\u1ee5 \u1edf c\u1ea5p \u0111\u1ed9 v\u0129 m\u00f4, l\u00fd t\u01b0\u1edfng cho giao d\u1ecbch swing ho\u1eb7c c\u00e2n b\u1eb1ng l\u1ea1i danh m\u1ee5c \u0111\u1ea7u t\u01b0. Tuy nhi\u00ean, c\u00e1c nh\u00e0 giao d\u1ecbch trong ng\u00e0y v\u1eabn c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng s\u1ef1 thay \u0111\u1ed5i \u0111\u01b0\u1eddng cong nh\u01b0 m\u1ed9t b\u1ed1i c\u1ea3nh \u0111\u1ec3 qu\u1ea3n l\u00fd r\u1ee7i ro ho\u1eb7c x\u00e1c nh\u1eadn."},{"question":"S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t danh ngh\u0129a v\u00e0 th\u1ef1c l\u00e0 g\u00ec?","answer":"C\u00e1c \u0111\u01b0\u1eddng cong danh ngh\u0129a d\u1ef1a tr\u00ean l\u00e3i su\u1ea5t chu\u1ea9n c\u1ee7a Kho b\u1ea1c. C\u00e1c \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t th\u1ef1c \u0111i\u1ec1u ch\u1ec9nh theo k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t (v\u00ed d\u1ee5, th\u00f4ng qua TIPS). C\u1ea3 hai \u0111\u1ec1u cung c\u1ea5p nh\u1eefng th\u00f4ng tin c\u00f3 gi\u00e1 tr\u1ecb nh\u01b0ng kh\u00e1c bi\u1ec7t v\u1ec1 c\u1ea3m nh\u1eadn th\u1ecb tr\u01b0\u1eddng."}]}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t Kho b\u1ea1c<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/markets\/yield-curve-trading\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch \u0111\u01b0\u1eddng cong l\u1ee3i su\u1ea5t Kho b\u1ea1c\" \/>\n<meta property=\"og:url\" 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