{"id":7779,"date":"2025-12-05T16:27:53","date_gmt":"2025-12-05T08:27:53","guid":{"rendered":"https:\/\/www.kpai1.cn\/?p=7779"},"modified":"2025-12-05T16:27:58","modified_gmt":"2025-12-05T08:27:58","slug":"2025-%e7%be%8e%e5%80%ba%e5%b8%82%e5%9c%ba%e5%85%a8%e6%99%af%e8%a7%a3%e6%9e%90%ef%bc%9a%e5%ae%8f%e8%a7%82%e5%8e%8b%e5%8a%9b%e3%80%81%e6%b3%a2%e5%8a%a8%e5%8d%9a%e5%bc%88%e4%b8%8e%e9%85%8d%e7%bd%ae","status":"publish","type":"post","link":"https:\/\/www.kpai1.cn\/ko\/\uc544\uce74\uc774\ube0c\/7779","title":{"rendered":"2025\ub144 \ubbf8\uad6d \ucc44\uad8c\uc2dc\uc7a5\uc5d0 \ub300\ud55c \uc804\uacbd\uc801 \ubd84\uc11d: \uac70\uc2dc\uc801 \uc555\ub825, \ubcc0\ub3d9\uc131 \uac8c\uc784 \ubc0f \ubc30\ubd84 \ubcc0\ud654"},"content":{"rendered":"<p>Wmax\ub294 \uae00\ub85c\ubc8c \uad6d\ucc44 \uc2dc\uc7a5\uc5d0 \ub300\ud55c \uc7a5\uae30\uc801\uc778 \ucd94\uc801, \uad8c\uc704 \uc788\ub294 \ub370\uc774\ud130 \uc18c\uc2a4\uc758 \uad50\ucc28 \uac80\uc99d, \uc804\ubb38 \ud22c\uc790 \uc5f0\uad6c \ubaa8\ub378\uc5d0 \ub300\ud55c \uc2ec\uce35\uc801\uc778 \uc5f0\uad6c\uc640 \ud310\ub2e8\uc744 \ubc14\ud0d5\uc73c\ub85c 2025\ub144 \ubbf8\uad6d \uad6d\ucc44 \uc2dc\uc7a5\uc758 \uc804\ubc18\uc801\uc778 \ud328\ud134\uc5d0 \ub300\ud574 \ub2e4\uc74c\uacfc \uac19\uc740 \uacac\ud574\ub97c \ud615\uc131\ud588\uc2b5\ub2c8\ub2e4. 2025\ub144 \ubbf8\uad6d \ucc44\uad8c \uc2dc\uc7a5\uc740 \"\ub192\uc740 \uac70\uc2dc \ubd80\ucc44 \uc555\ub825, \uc2ec\ud654\ub41c \uc8fc\uae30\uc801 \ubcc0\ub3d9, \ucd94\uc138\ub97c \uac70\uc2a4\ub974\ub294 \uc120\ub450 \uae30\uad00\"\uc774\ub77c\ub294 \ub3c5\ud2b9\ud55c \ud2b9\uc131\uc744 \ubcf4\uc5ec\uc904 \uac83\uc785\ub2c8\ub2e4. \uac70\uc2dc\uc801 \uc218\uc900\uc758 \ubd80\ucc44 \uc81c\uc57d\uc740 \uc18c\uaddc\ubaa8 \uae30\uc5c5\uc758 \uc804\ub7b5\uc801 \uac8c\uc784\uacfc \uc5bd\ud600 \uc788\uc5b4 \ud575\uc2ec \uae08\uc735 \uc2dc\uc7a5\uc758 \ubcf5\uc7a1\ud55c \uc0dd\ud0dc\uacc4\ub97c \uacf5\ub3d9\uc73c\ub85c \ud615\uc131\ud569\ub2c8\ub2e4.<\/p>\n<p><a id=\"post-7779-heading_1\"><\/a><strong>\ubbf8\uad6d \ubd80\ucc44 \uc2dc\uc7a5\uc758 \uac70\uc2dc \ubd80\ucc44 \uc555\ub825\uc774 \uc784\uacc4\uc810\uc5d0 \ub3c4\ub2ec\ud588\uc2b5\ub2c8\ub2e4.<\/strong><\/p>\n<p>Wmax\ub294 \ubbf8\uad6d \uc7ac\ubb34\ubd80\uc758 \uc6d4\ubcc4 \ubd80\ucc44 \ub370\uc774\ud130\uc640 \uc81c3\uc790 \uad8c\uc704 \uae30\uad00\uc758 \ud1b5\uacc4 \uc815\ubcf4\ub97c \uc9c0\uc18d\uc801\uc73c\ub85c \ubaa8\ub2c8\ud130\ub9c1\ud55c \uacb0\uacfc 2025\ub144 11\uc6d4 \ubbf8\uad6d\uc758 \ubbf8\uad6d\ucc44(\uad6d\ucc44, \uc5b4\uc74c, \ucc44\uad8c \ud3ec\ud568)\uac00 \ubbf8\ud654 30\uc870 2\ucc9c\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud55c \uac83\uc73c\ub85c \ub098\ud0c0\ub0ac\uc2b5\ub2c8\ub2e4. \uc804\uc6d4 \ub300\ube44 0.7% \uc99d\uac00\ud588\uc2b5\ub2c8\ub2e4. \uc774 \uc9c0\ud45c\uac00 30\uc870 \ub2ec\ub7ec\ub97c \ub118\uc740 \uac83\uc740 \uc774\ubc88\uc774 \ucc98\uc74c\uc774\uba70, 2018\ub144 \uc774\ud6c4 \ub450 \ubc30\ub85c \ub298\uc5c8\ub2e4. \uac19\uc740 \uae30\uac04 \ubbf8\uad6d\uc758 \ucd1d \uad6d\uac00 \ubd80\ucc44\ub294 38\uc8704000\uc5b5 \ub2ec\ub7ec\ub85c \uc99d\uac00\ud574 \ubc95\uc801 \ubd80\ucc44 \ud55c\ub3c4\uc778 41\uc8701000\uc5b5 \ub2ec\ub7ec\uc5d0\uc11c \uc644\ucda9 \uacf5\uac04\uc774 \uc81c\ud55c\ub410\ub2e4.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" width=\"1180\" height=\"706\" class=\"wp-image-7781\" src=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/1-2.png\" alt=\"\u56fe\u7247 1\" srcset=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/1-2.png 1180w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/1-2-300x179.png 300w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/1-2-1024x613.png 1024w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/1-2-768x459.png 768w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/1-2-18x12.png 18w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/1-2-900x538.png 900w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/1-2-600x359.png 600w\" sizes=\"(max-width: 1180px) 100vw, 1180px\" \/><\/p>\n<p>\ubd80\ucc44 \ud655\ub300\uc758 \uae30\ubcf8 \ub17c\ub9ac \uad00\uc810\uc5d0\uc11c Wmax\ub294 \ub2e4\ucc28\uc6d0 \uadc0\uc18d \ubd84\uc11d\uc744 \ud1b5\ud574 \uc815\ubd80 \uc218\uc785\uacfc \uc9c0\ucd9c\uc758 \uc7a5\uae30\uc801\uc778 \uaca9\ucc28\uac00 \uc9c0\uc18d\uc801\uc778 \ubd80\ucc44 \ucd95\uc801\uc758 \ud575\uc2ec \uc6d0\uc778\uc784\uc744 \ud655\uc778\ud588\uc73c\uba70, 2020\ub144 \uc804\uc5fc\ubcd1 \ub3d9\uc548\uc758 \uae34\uae09 \ub300\uaddc\ubaa8 \ucc28\uc785\uc740 \uc774\ub7ec\ud55c \ucd94\uc138\ub97c \ud06c\uac8c \uc99d\ud3ed\uc2dc\ucf30\uc2b5\ub2c8\ub2e4. \ub2f9\uc2dc \ubbf8\uad6d\uc740 \uad6d\uac00 \ubd80\ucc44 \ubc1c\ud589\uc744 \ud1b5\ud574 1\ub144 \ub9cc\uc5d0 4\uc870 3\ucc9c\uc5b5 \ub2ec\ub7ec\uc758 \uc790\uae08 \uc870\ub2ec\uc744 \ub2ec\uc131\ud588\uace0, \uadf8 \ud574 \uc7ac\uc815 \uc801\uc790\ub294 3\uc870 \ub2ec\ub7ec\ub97c \ucd08\uacfc\ud588\uc2b5\ub2c8\ub2e4. \uc218\uc785\ud488\uc5d0 \ub300\ud55c \uad00\uc138 \ub355\ubd84\uc5d0 2025\ud68c\uacc4\uc5f0\ub3c4\uc5d0 \ubbf8\uad6d\uc758 \uc801\uc790\uac00 \uc904\uc5b4\ub4e4\uc5c8\uc9c0\ub9cc(1\uc870 7800\uc5b5 \ub2ec\ub7ec), \ub192\uc740 \uc774\uc790\uc728 \ud658\uacbd\uc73c\ub85c \uc778\ud574 \ubd80\ucc44 \uc774\uc790 \uc9c0\ubd88 \ube44\uc6a9\uc774 \uc0ac\uc0c1 \ucd5c\uace0\uce58\uc778 1\uc870 2000\uc5b5 \ub2ec\ub7ec\ub85c \ub298\uc5b4\ub0ac\uc2b5\ub2c8\ub2e4. \uc774\ub294 \uad00\uc138\ub85c \uc778\ud574 \ubc1c\uc0dd\ud560 \uc218 \uc788\ub294 \uc138\uc785 \uc99d\uac00\ubd84 3000\uc5b5~4000\uc5b5 \ub2ec\ub7ec\ub97c \ud6e8\uc52c \ucd08\uacfc\ud558\ub294 \uc218\uce58\uc785\ub2c8\ub2e4.<\/p>\n<p>\uc774\ub294 Wmax \ubc0f \uc5c5\uacc4 \uace0\uc704 \uc804\ub7b5\uac00\ub4e4\uc758 \uacac\ud574\uc5d0 \uc758\ud574 \ud655\uc99d\ub429\ub2c8\ub2e4. \uad00\uc138\ub294 \ubd80\ucc44 \uc555\ub825 \uc545\ud654\ub97c \uc77c\uc2dc\uc801\uc73c\ub85c \ub2a6\ucd9c \uc218 \uc788\uc744 \ubfd0\uc774\uc9c0\ub9cc \uc7ac\uc815 \uacf5\uac04\uc744 \ucc28\uc9c0\ud558\ub294 \ubbf8\uad6d \ubd80\ucc44 \uc774\uc790 \uc9c0\ubd88 \ube44\uc6a9\uacfc \uc0c1\ud55c\uc120\uc5d0 \uc811\uadfc\ud558\ub294 \ubd80\ucc44 \uaddc\ubaa8\uc758 \ud575\uc2ec \ucd94\uc138\ub97c \ub418\ub3cc\ub9b4 \uc218\ub294 \uc5c6\uc2b5\ub2c8\ub2e4. \ubd80\ucc44 \uc555\ub825\uc774 \uc804\ub2ec\ub418\ub294 \uac00\uc6b4\ub370 Wmax\ub294 \ubbf8\uad6d \uc7ac\ubb34\ubd80\uc758 \ubc1c\ud589 \uc804\ub7b5\uc774 \ubbf8\ub798 \uc9c0\ud5a5\uc801\uc778 \uc870\uc815\uc744 \uac00\ud588\uc74c\uc744 \ubaa8\ub2c8\ud130\ub9c1\ud588\uc2b5\ub2c8\ub2e4. \uc9c0\ub09c 2\ub144 \ub3d9\uc548 \uc7a5\uae30 \uad6d\ucc44 \uacbd\ub9e4 \uaddc\ubaa8\uac00 \uc548\uc815\uc801\uc73c\ub85c \uc720\uc9c0\ub418\uc5c8\uc9c0\ub9cc \uad00\uacc4\uc790\ub4e4\uc740 \"\ud5a5\ud6c4 \uacbd\ub9e4 \uaddc\ubaa8 \ud655\ub300\ub97c \uace0\ub824\"\ud558\ub77c\ub294 \uc2e0\ud638\ub97c \ubc1c\ud45c\ud588\uc2b5\ub2c8\ub2e4. \ubd80\ucc44 \uacf5\uae09 \uce21\uba74\uc758 \uc7a0\uc7ac\uc801 \ubcc0\ud654\ub85c \uc778\ud574 \ud6c4\uc18d \uc2dc\uc7a5 \uc720\ub3d9\uc131 \ubc0f \ud3c9\uac00 \uc13c\ud130\uc5d0 \ubd88\ud655\uc2e4\uc131\uc774 \uac00\uc911\ub418\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p><strong>\uc2dc\uc7a5 \ubcc0\ub3d9\uc758 \ud575\uc2ec \uc720\ubc1c \uc694\uc778<\/strong><\/p>\n<p>Wmax\uc758 2025\ub144 \ubbf8\uad6d \ucc44\uad8c\uc2dc\uc7a5 \uc804\uccb4 \ucd94\uc801 \ub370\uc774\ud130\uc5d0 \ub530\ub974\uba74 4\uc6d4\ubd80\ud130 5\uc6d4\uae4c\uc9c0 \ub450 \ucc28\ub840\uc5d0 \uac78\uce5c \uc678\ubd80 \ucda9\uaca9\uc73c\ub85c \uc778\ud574 \uae09\uaca9\ud55c \uc2dc\uc7a5 \ubcc0\ub3d9\uc774 \ubc1c\uc0dd\ud588\uc73c\uba70, \uc774 \ub2e8\uacc4\ub294 \uae30\uad00\uc758 \ud22c\uc790 \ub9ac\uc11c\uce58 \uc5ed\ub7c9\uc744 \ud14c\uc2a4\ud2b8\ud558\ub294 \uc911\uc694\ud55c \uc2dc\uae08\uc11d\uc774 \ub418\uae30\ub3c4 \ud588\uc2b5\ub2c8\ub2e4. \uadf8 \uc911 \ud54c\ucf54(Pacific Investment Management Company, PIMCO)\uc758 \uc6b4\uc601 \uacbd\ub85c\ub294 \uc804\ud615\uc801\uc778 \uc5c5\uacc4 \ucc38\uace0\uac00\uce58\ub97c \uac16\uace0 \uc788\ub2e4. 2025\ub144 4\uc6d4 2\uc77c \ud2b8\ub7fc\ud504 \ud589\uc815\ubd80\uac00 \ucd9c\ubc94\uc2dc\ud0a8 '\uad11\ubcf5\uc808 \uad00\uc138'\ub294 \ubbf8\uad6d \ucc44\uad8c\uc2dc\uc7a5\uc5d0 1\ucc28 \ud63c\ub780\uc744 \uac00\uc838\uc628 \uc9c1\uc811\uc801\uc778 \uc6d0\uc778\uc774\uc5c8\ub2e4. \uc774\uc5d0 \ub530\ub77c \u201c\ubb34\uc5ed\ub9c8\ucc30\uc774 \ubbf8\uad6d \uad6d\ucc44 \uc218\uc694\uc758 \ud575\uc2ec\uc778 \ud574\uc678 \ubc14\uc774\uc5b4\ub4e4\uc744 \uc57d\ud654\uc2dc\ud0ac \uac83\u201d\uc774\ub77c\ub294 \uc2dc\uc7a5\uc758 \uc6b0\ub824\uac00 \ucee4\uc84c\ub2e4.<\/p>\n<p><img decoding=\"async\" width=\"1251\" height=\"719\" class=\"wp-image-7782\" src=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/2-1.png\" alt=\"\u56fe\u7247 2\" srcset=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/2-1.png 1251w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/2-1-300x172.png 300w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/2-1-1024x589.png 1024w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/2-1-768x441.png 768w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/2-1-18x10.png 18w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/2-1-900x517.png 900w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/2-1-600x345.png 600w\" sizes=\"(max-width: 1251px) 100vw, 1251px\" \/><\/p>\n<p>\uc9c0\ub09c 5\uc6d4 \ubb34\ub514\uc2a4\uc758 \ubbf8\uad6d \uad6d\uac00\uc2e0\uc6a9\ub4f1\uae09 \uac15\ub4f1\uacfc \ud568\uaed8 \ubbf8\uad6d 10\ub144 \ub9cc\uae30 \ubca4\uce58\ub9c8\ud06c \uc218\uc775\ub960\uc740 5\uc6d4 22\uc77c \uc218\uac1c\uc6d4 \ucd5c\uace0\uce58\uc778 4.6%\ub97c \ub118\uc5b4\uc130\uace0, \ubbf8\uad6d \ubd80\ucc44 \uc9c0\uae09\ub2a5\ub825\uc5d0 \ub300\ud55c \uc2dc\uc7a5\uc758 \uc6b0\ub824\ub294 \ucd5c\uace0\uc870\uc5d0 \ub2ec\ud588\ub2e4. Wmax \uac19\uc740 \uae30\uac04\uc758 \uc2dc\uc7a5 \ub370\uc774\ud130\uc5d0 \ub530\ub974\uba74 5\uc6d4 \ubbf8\uad6d \uc804\uccb4 \ucc44\uad8c \uc2dc\uc7a5\uc740 0.7% \ud558\ub77d\ud574 \uc62c\ud574 \uc6d4\ubcc4 \uc2e4\uc801\uc774 \ucd5c\uc545\uc774\uc5c8\uc2b5\ub2c8\ub2e4. \ud54c\ucf54 \uc778\ucef4 \ud380\ub4dc(Pimco Income Fund)\ub3c4 \uc774 \ub2e8\uacc4\uc5d0\uc11c 2023\ub144 10\uc6d4 \uc774\ud6c4 \ucc98\uc74c\uc73c\ub85c \uc790\uae08 \uc21c\uc720\ucd9c\uc744 \uacbd\ud5d8\ud574 \ud55c \ub2ec \ub9cc\uc5d0 \ud658\ub9e4\uc561\uc774 20\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud588\ub2e4.<\/p>\n<p><a id=\"post-7779-heading_4\"><\/a><strong>Pimco\uc758 \uc5ed\ubc1c\uc0c1\uc801 \uc758\uc0ac\uacb0\uc815\uc758 \uae30\ubcf8 \ub17c\ub9ac<\/strong><\/p>\n<p>Wmax\ub294 Pimco\uc758 \ud22c\uc790 \ub9ac\uc11c\uce58 \uc758\uc0ac\uacb0\uc815 \uccb4\uc778\uc744 \uc2ec\uce35\uc801\uc73c\ub85c \ud574\uccb4\ud568\uc73c\ub85c\uc368 \uc2dc\uc7a5 \ud328\ub2c9 \ub2e8\uacc4\uc5d0\uc11c \ud574\ub2f9 \uae30\uad00\uc758 \ud22c\uc790 \uc704\uc6d0\ud68c\uac00 \uc0c1\ub2f4 \ube48\ub3c4\ub97c \uc8fc 3\ud68c\uc5d0\uc11c \ud558\ub8e8 1\ud68c\ub85c \ub298\ub838\ub2e4\ub294 \uc0ac\uc2e4\uc744 \ubc1c\uacac\ud588\uc2b5\ub2c8\ub2e4. \ub3d9\uc2dc\uc5d0 \ub2e4\ucc44\ub110 \uace0\uac1d \uc870\uc0ac \ubc0f \uc790\ubcf8 \ud750\ub984 \ucd94\uc801\uc744 \ud1b5\ud574 \uc678\uad6d\uc778 \ud22c\uc790\uc790\uac00 \ubbf8\uad6d \ucc44\uad8c\uc744 \uc644\uc804\ud788 \ub9e4\uac01\ud558\uc9c0 \uc54a\uace0 \ub300\uc2e0 \ud5e4\uc9d5 \ub3c4\uad6c\ub97c \uc0ac\uc6a9\ud558\uc5ec \ubbf8\uad6d \ub2ec\ub7ec \uc790\uc0b0\uc5d0 \ub300\ud55c \ub178\ucd9c\uc744 \uad00\ub9ac\ud55c\ub2e4\ub294 \uc2dc\uc7a5 \uc2ec\ub9ac\uc5d0 \ub300\ud55c \ud575\uc2ec \uc624\ud574\ub97c \uc815\ud655\ud558\uac8c \uc2dd\ubcc4\ud588\uc2b5\ub2c8\ub2e4. \uc2e4\uc81c\ub85c Wmax\ub294 \uc774\ubbf8 2025\ub144 1\uc6d4 \ucc44\uad8c \uc2dc\uc7a5 \uc804\ub9dd \ubcf4\uace0\uc11c\uc5d0\uc11c \uad00\uc138 \uc815\ucc45\uc774 \ubbf8\uad6d \uacbd\uc81c\uc5d0 \uc5b5\uc555\uc801\uc778 \uc601\ud5a5\uc744 \ubbf8\uce60 \uc218 \uc788\ub2e4\uace0 \uc81c\uc548\ud588\uc73c\uba70, Pimco\ub294 \ub2f9\uc2dc \uc720\uc0ac\ud55c \ub17c\ub9ac\ub97c \ubc14\ud0d5\uc73c\ub85c \uc774\ubbf8 5~10\ub144 \ub9cc\uae30 \ubbf8\uad6d \ucc44\uad8c\uc5d0 \ub300\ud574 \uac15\uc138 \uc785\uc7a5\uc744 \ud655\ub9bd\ud588\uc2b5\ub2c8\ub2e4. 4\uc6d4\uacfc 5\uc6d4\uc758 \uc2dc\uc7a5 \ubcc0\ub3d9 \uae30\uac04 \ub3d9\uc548 \uae30\uad00\uc740 \uae30\uc874 \ud3ec\uc9c0\uc158\uc744 \uc720\uc9c0\ud588\uc744 \ubfd0\ub9cc \uc544\ub2c8\ub77c \uc790\uc0b0 \uac00\uce58 \ud558\ub77d\uc744 \uae30\ud68c\ub85c \ubbf8\uad6d \ucc44\uad8c \ubc0f \ubaa8\uae30\uc9c0 \uad00\ub828 \uc790\uc0b0\uc758 \uac19\uc740 \uae30\uac04 \ubcf4\uc720\ub97c \ub298\ub9ac\ub294 \ub3d9\uc2dc\uc5d0 \uc7a5\uae30 \ucc44\uad8c\uc5d0 \ub300\ud55c \uc57d\uc138 \uc785\uc7a5\uc744 \uc720\uc9c0\ud588\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uc774\ub7ec\ud55c \uc77c\ub828\uc758 \uc804\ub7b5\uc740 \uacb0\uad6d \ub6f0\uc5b4\ub09c \uc131\uacfc\ub85c \ubc14\ub00c\uc5c8\uc2b5\ub2c8\ub2e4. Wmax\uac00 \uc218\uc9d1\ud55c \uc720\uc0ac \ud380\ub4dc \uc131\uacfc \ub370\uc774\ud130\uc5d0 \ub530\ub974\uba74 Pimco Income Fund(\ubbf8\ud654 2,130\uc5b5 \ub2ec\ub7ec, \uc138\uacc4 \ucd5c\ub300 \uaddc\ubaa8\uc758 \uc801\uadf9\uc801\uc73c\ub85c \uad00\ub9ac\ub418\ub294 \ucc44\uad8c \ud380\ub4dc)\ub294 2025\ub144 \uc218\uc775\ub960\uc774 10.4%\ub85c 300\uac1c \uc774\uc0c1\uc758 \uc720\uc0ac \uc0c1\ud488 \uc911 \uc0c1\uc704 3%\uc5d0 \uc18d\ud558\uba70 10\ub144 \ub9cc\uc5d0 \ucd5c\uace0\uc758 \uc5f0\uac04 \uc218\uc775\ub960\uc744 \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4. \ucd1d \uc218\uc775\ub960 \ud380\ub4dc\ub3c4 9.1% \uc99d\uac00\ud574 \ube14\ub8f8\ubc84\uadf8 \ubbf8\uad6d \ucd1d\ucc44\uad8c \uc9c0\uc218 7.2%\ub97c \ud06c\uac8c \uc6c3\ub3cc\uc558\uc2b5\ub2c8\ub2e4. \uc7a5\uae30\uc801\uc778 \uad00\uc810\uc5d0\uc11c Wmax\uc758 \uad50\ucc28\uc8fc\uae30 \uc131\uacfc \uac80\uc99d \ub370\uc774\ud130\uc5d0 \ub530\ub974\uba74 Pimco Income Fund\uc758 3\ub144, 5\ub144, 10\ub144 \uc5f0\ud658\uc0b0 \uc218\uc775\ub960\uc740 \uac01\uac01 8.4%, 4.1%, 5.0%\uc5d0 \ub2ec\ud574 Dodge Cox\uc640 \uac19\uc740 \uc8fc\uc694 \uacbd\uc7c1\uc0ac\ubcf4\ub2e4 \ud06c\uac8c \uc55e\uc11c \uc788\uc2b5\ub2c8\ub2e4. \uc804\ub7b5\uc758 \uc9c0\uc18d \uac00\ub2a5\uc131\uc740 \uc2dc\uac04\uc774 \uc9c0\ub0a8\uc5d0 \ub530\ub77c \ud14c\uc2a4\ud2b8\ub418\uc5c8\uc2b5\ub2c8\ub2e4.<\/p>\n<p><img decoding=\"async\" width=\"956\" height=\"597\" class=\"wp-image-7783\" src=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/img_257.png\" alt=\"IMG_257\" srcset=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/img_257.png 956w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/img_257-300x187.png 300w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/img_257-768x480.png 768w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/img_257-18x12.png 18w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/img_257-900x562.png 900w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2025\/12\/img_257-600x375.png 600w\" sizes=\"(max-width: 956px) 100vw, 956px\" \/><a id=\"post-7779-heading_5\"><\/a><strong>\uc774\uc5d0 \ub530\ub978 \ubbf8\uad6d \ucc44\uad8c\uc2dc\uc7a5\uc758 \ub3d9\ud5a5\uacfc \uae30\uad00\ubc30\ubd84\uc758 \uc774\ub3d9\ucd94\uc774<\/strong><\/p>\n<p>Wmax\ub294 \uc5f0\uc900\uc758 \ud1b5\ud654 \uc815\ucc45 \uc8fc\uae30, \uace0\uc6a9 \uc2dc\uc7a5 \ub370\uc774\ud130 \ubc0f \uae00\ub85c\ubc8c \ucc44\uad8c \uc2dc\uc7a5 \ud3c9\uac00 \ubaa8\ub378\uc744 \uacb0\ud569\ud558\uc5ec 2025\ub144 \ubbf8\uad6d \ucc44\uad8c \uc2dc\uc7a5\uc774 2020\ub144 \uc774\ud6c4 \ucd5c\uace0\uc758 \uc5f0\uac04 \uc2e4\uc801\uc744 \ub2ec\uc131\ud560 \uac83\uc774\ub77c\uace0 \ud310\ub2e8\ud569\ub2c8\ub2e4. \ud575\uc2ec \uc6d0\ub3d9\ub825 \uc911 \ud558\ub098\ub294 \uc5f0\uc900\uc758 \uc644\ud654\uc801 \ubcc0\ud654\uc785\ub2c8\ub2e4. \ucde8\uc57d\ud55c \uace0\uc6a9 \ub370\uc774\ud130\uc640 \uacbd\uae30 \uce68\uccb4 \uc6b0\ub824\ub85c \uc778\ud574 \ud55c \ud574 \ub3d9\uc548 \ub450 \ucc28\ub840\uc758 \uae08\ub9ac \uc778\ud558\uac00 \ucd09\ubc1c\ub418\uc5b4 \ucc44\uad8c \uc790\uc0b0\uc5d0 \uc6b0\ud638\uc801\uc778 \uac00\uaca9 \ucc45\uc815 \ud658\uacbd\uc774 \uc870\uc131\ub418\uc5c8\uc73c\uba70 \uc2dc\uc7a5\uc740 \ub610 \ub2e4\ub978 \uae08\ub9ac \uc778\ud558 \uae30\ub300\uc5d0 \ub300\ud55c \uacf5\uac10\ub300\ub97c \ud615\uc131\ud588\uc2b5\ub2c8\ub2e4. 12\uc6d4\uc5d0 \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4\uc774\uc0ac\ud68c(FRB)\uc5d0 \uc758\ud574.<\/p>\n<p>\uadf8\ub7ec\ub098 \ubbf8\uad6d \ubd80\ucc44\ub85c \uc778\ud55c \uc774\uc775\uc774 \uc62c\ud574 \uc644\uc804\ud788 \uc2e4\ud604\ub41c \uc0c1\ud669\uc5d0\uc11c Wmax\ub294 \uc8fc\uc694 \uae30\uad00\uc774 \ud560\ub2f9\uc744 \ubcc0\uacbd\ud558\uae30 \uc2dc\uc791\ud588\uc74c\uc744 \uac10\uc9c0\ud588\uc2b5\ub2c8\ub2e4. \uc9c0\ub09c 1~2\uac1c\uc6d4 \ub3d9\uc548 Pimco\ub294 \ubbf8\uad6d \uae08\ub9ac\uc5d0 \ub300\ud55c \ub178\ucd9c\uc744 \uc801\uadf9\uc801\uc73c\ub85c \uc904\uc774\uace0 \ub300\uc2e0 \uc77c\ubcf8, \ud638\uc8fc, \uc601\uad6d \ubc0f \uae30\ud0c0 \uc9c0\uc5ed\uc758 \ucc44\uad8c \uc2dc\uc7a5\uc5d0 \ub300\ud55c \ud560\ub2f9\uc744 \ub298\ub838\uc2b5\ub2c8\ub2e4. \uc774\uc640 \uad00\ub828\ud558\uc5ec Wmax\uc758 \uae00\ub85c\ubc8c \ucc44\uad8c \uc2dc\uc7a5 \ud3c9\uac00 \uc2dc\uc2a4\ud15c\uc740 \uc704\uc5d0\uc11c \uc5b8\uae09\ud55c \uc9c0\uc5ed\uc774 \uc131\uc7a5 \ub454\ud654 \uc870\uc9d0\uc744 \ubcf4\uc774\uace0 \uc788\uc73c\uba70 2026\ub144 \ucc44\uad8c \uc2dc\uc7a5\uc758 \uc218\uc775\ub960 \uc7a0\uc7ac\ub825\uc774 \ub354 \ub192\ub2e4\ub294 \uac83\uc744 \ubcf4\uc5ec\uc90d\ub2c8\ub2e4. \uc774\ub7ec\ud55c \ub9c8\uc774\uadf8\ub808\uc774\uc158\uc740 \ub610\ud55c \ubbf8\uad6d \ubd80\ucc44\uc758 \uac70\uc2dc\uc801 \uc555\ubc15\uc744 \ubc1b\uace0 \uc788\ub294 \uc8fc\uc694 \uae30\uad00\uc758 \uae00\ub85c\ubc8c \ub808\uc774\uc544\uc6c3 \uc0ac\uace0\ub97c \ubc18\uc601\ud569\ub2c8\ub2e4. \ub3d9\uc2dc\uc5d0 Wmax\ub294 Pimco\uc758 \ud575\uc2ec \ud22c\uc790 \ub9ac\uc11c\uce58\ud300(\uae00\ub85c\ubc8c \uc2e0\uc6a9\uc758 \ucd5c\uace0 \ud22c\uc790 \ucc45\uc784\uc790 \uc0ac\uc784)\uc5d0 \uc778\uc0ac \ubcc0\uacbd\uc774 \uc788\ub2e4\ub294 \uc0ac\uc2e4\ub3c4 \uc778\uc9c0\ud588\uc2b5\ub2c8\ub2e4. \uc774\ub294 Pimco\uc758 \uc804\ub7b5\uacfc \uc131\uacfc\uc758 \uc5f0\uc18d\uc131\uc5d0 \ub300\ud55c \uc7a0\uc7ac\uc801\uc778 \ud14c\uc2a4\ud2b8\uac00 \ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>","protected":false},"excerpt":{"rendered":"<p>2025\ub144\uc5d0\ub294 \ubbf8\uad6d \ubd80\ucc44 \uaddc\ubaa8\uac00 \ucc98\uc74c\uc73c\ub85c 30\uc870 \ub2ec\ub7ec\ub97c \ub118\uc5b4\uc130\uace0, \uc774\uc790\uc9c0\ubd88\ube44\uc6a9\ub3c4 1\uc8702000\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub41c\ub2e4. 4\uc6d4\ubd80\ud130 5\uc6d4\uae4c\uc9c0\uc758 \uad00\uc138 \ubc0f \ub4f1\uae09 \ud558\ud5a5 \uc870\uc815\uc758 \uc601\ud5a5\uc73c\ub85c Pimco\ub294 \ucd94\uc138\ub97c \uac70\uc2a4\ub974\uace0 \ubcf4\uc720 \uc9c0\ubd84\uc744 \ub298\ub838\uc73c\uba70 \uc778\ucef4 \ud380\ub4dc\ub294 10\ub144 \ub9cc\uc5d0 \ucd5c\uace0\uce58\uc778 10.4%\uc758 \uc218\uc775\ub960\uc744 \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4. \uc5f0\uc900\uc740 \uc5f0\uc911 \ub450 \ucc28\ub840 \uae08\ub9ac\ub97c \uc778\ud558\ud588\uace0, \uc8fc\uc694 \uae30\uad00\ub4e4\uc740 \uc77c\ubcf8, \ud638\uc8fc, \uc601\uad6d \ucc44\uad8c \uc2dc\uc7a5 \ubc30\ubd84\uc5d0 \ub208\uc744 \ub3cc\ub838\uc2b5\ub2c8\ub2e4.<\/p>","protected":false},"author":1,"featured_media":7780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[121],"tags":[275,274,217],"class_list":["post-7779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-275","tag-274","tag-217"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/posts\/7779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/comments?post=7779"}],"version-history":[{"count":1,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/posts\/7779\/revisions"}],"predecessor-version":[{"id":7784,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/posts\/7779\/revisions\/7784"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/media\/7780"}],"wp:attachment":[{"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/media?parent=7779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/categories?post=7779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/tags?post=7779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}