{"id":10081,"date":"2026-07-17T17:06:21","date_gmt":"2026-07-17T09:06:21","guid":{"rendered":"https:\/\/www.ycnkyy.com\/?p=10081"},"modified":"2026-07-17T17:08:20","modified_gmt":"2026-07-17T09:08:20","slug":"%e5%80%ba%e5%b8%82-30-%e5%b9%b4%e5%a4%9a%e5%a4%b4%e7%bf%bb%e7%a9%ba%ef%bc%8c%e9%bb%84%e9%87%91%e7%9a%84%e5%a4%a7%e9%a1%b6%e7%9c%9f%e7%9a%84%e6%9d%a5%e4%ba%86%e5%90%97%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/www.ycnkyy.com\/vi\/luu-tru\/10081","title":{"rendered":"Th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu \u0111\u00e3 t\u0103ng gi\u00e1 trong 30 n\u0103m. \u0110\u1ec9nh l\u1edbn c\u1ee7a v\u00e0ng c\u00f3 th\u1ef1c s\u1ef1 \u0111\u1ebfn kh\u00f4ng?"},"content":{"rendered":"

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\u0110\u1eb1ng sau \u0111\u1ee3t gi\u1ea3m gi\u00e1 v\u00e0ng n\u00e0y h\u01a1n 20% so v\u1edbi m\u1ee9c cao l\u1ecbch s\u1eed v\u00e0 b\u01b0\u1edbc v\u00e0o th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng k\u1ef9 thu\u1eadt kh\u00f4ng ph\u1ea3i l\u00e0 m\u1ed9t \u0111\u1ee3t b\u00e1n th\u00e1o c\u1ea3m x\u00fac ng\u1eafn h\u1ea1n \u0111\u01a1n gi\u1ea3n m\u00e0 l\u00e0 s\u1ef1 t\u00e1i thi\u1ebft \u0111\u1ecbnh gi\u00e1 do s\u1ef1 thay \u0111\u1ed5i s\u00e2u s\u1eafc trong h\u1ec7 th\u1ed1ng l\u00e3i su\u1ea5t to\u00e0n c\u1ea7u mang l\u1ea1i. Khi t\u1ed5 ch\u1ee9c huy\u1ec1n tho\u1ea1i \u0111\u00e3 l\u1ea1c quan v\u1ec1 n\u1ee3 c\u1ee7a M\u1ef9 trong h\u01a1n 30 n\u0103m ch\u00ednh th\u1ee9c thay \u0111\u1ed5i h\u01b0\u1edbng \u0111i, s\u1ef1 \u0111\u1ed3ng thu\u1eadn v\u1ec1 xu h\u01b0\u1edbng t\u0103ng l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n \u0111ang nhanh ch\u00f3ng \u0111\u01b0\u1ee3c thu th\u1eadp. \u0110i\u1ec1u n\u00e0y tr\u1ef1c ti\u1ebfp l\u00e0m t\u0103ng chi ph\u00ed n\u1eafm gi\u1eef v\u00e0ng kh\u00f4ng l\u00e3i su\u1ea5t v\u00e0 tr\u1edf th\u00e0nh l\u1ef1c c\u1ea3n v\u0129 m\u00f4 c\u1ed1t l\u00f5i k\u00ecm h\u00e3m gi\u00e1 v\u00e0ng. Ch\u1ed3ng l\u00ean nh\u1eefng t\u00edn hi\u1ec7u c\u1ea3nh b\u00e1o r\u1eb1ng b\u1ec1 m\u1eb7t k\u1ef9 thu\u1eadt r\u1ea5t gi\u1ed1ng v\u1edbi \u0111\u1ec9nh l\u1ecbch s\u1eed, v\u00e0ng \u0111ang tr\u1ea3i qua qu\u00e1 tr\u00ecnh \u0111i\u1ec1u ch\u1ec9nh m\u1ee9c \u0111\u1ed9 trong m\u1ed9t \u0111\u1ee3t t\u0103ng d\u00e0i h\u1ea1n, \u0111\u1ed9 s\u00e2u v\u00e0 nh\u1ecbp \u0111i\u1ec7u \u0111i\u1ec1u ch\u1ec9nh c\u0169ng s\u1ebd g\u1eafn li\u1ec1n v\u1edbi \u0111\u1ed9 s\u00e2u c\u1ee7a l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu M\u1ef9.<\/p>\n

<\/a>S\u1ef1 thi\u1ebfu h\u1ee5t huy\u1ec1n tho\u1ea1i tr\u00ean th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu: logic v\u0129 m\u00f4 c\u01a1 b\u1ea3n c\u1ee7a \u00e1p l\u1ef1c v\u00e0ng<\/strong><\/p>\n

L\u00e0 m\u1ed9t t\u00e0i s\u1ea3n kh\u00f4ng t\u1ea1o ra thu nh\u1eadp t\u1eeb l\u00e3i, gi\u00e1 v\u00e0ng lu\u00f4n c\u00f3 m\u1ed1i t\u01b0\u01a1ng quan ngh\u1ecbch chi\u1ec1u v\u1edbi l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c Hoa K\u1ef3. Nguy\u00ean nh\u00e2n s\u00e2u xa c\u1ee7a \u00e1p l\u1ef1c li\u00ean t\u1ee5c l\u00ean gi\u00e1 v\u00e0ng g\u1ea7n \u0111\u00e2y l\u00e0 s\u1ef1 gia t\u0103ng l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n c\u00f3 h\u1ec7 th\u1ed1ng v\u00e0 s\u1ef1 thay \u0111\u1ed5i quan \u0111i\u1ec3m c\u1ee7a Hoisington Investment Management ch\u00ednh x\u00e1c l\u00e0 t\u00edn hi\u1ec7u mang t\u00ednh bi\u1ec3u t\u01b0\u1ee3ng nh\u1ea5t c\u1ee7a xu h\u01b0\u1edbng n\u00e0y. T\u1ed5 ch\u1ee9c thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh n\u00e0y, n\u1ed5i ti\u1ebfng v\u1edbi quan \u0111i\u1ec3m l\u1ea1c quan v\u1ec1 tr\u00e1i phi\u1ebfu Kho b\u1ea1c Hoa K\u1ef3 trong h\u01a1n 30 n\u0103m, \u0111\u00e3 gi\u1ea3m \u0111\u00e1ng k\u1ec3 th\u1eddi h\u1ea1n hi\u1ec7u d\u1ee5ng c\u1ee7a c\u00e1c qu\u1ef9 t\u1eeb 20,88 n\u0103m v\u00e0o cu\u1ed1i th\u00e1ng 9 n\u0103m ngo\u00e1i xu\u1ed1ng d\u01b0\u1edbi 1 n\u0103m, th\u1ea5p h\u01a1n nhi\u1ec1u so v\u1edbi m\u1ee9c chu\u1ea9n c\u1ee7a Ch\u1ec9 s\u1ed1 Tr\u00e1i phi\u1ebfu T\u1ed5ng h\u1ee3p Hoa K\u1ef3 c\u1ee7a Bloomberg l\u00e0 kho\u1ea3ng 6 n\u0103m. V\u1ec1 b\u1ea3n ch\u1ea5t, n\u00f3 \u0111\u00e3 ho\u00e0n to\u00e0n x\u00e1c nh\u1eadn nh\u1eadn \u0111\u1ecbnh \u201cl\u1ea1m ph\u00e1t d\u00e0i h\u1ea1n v\u00e0 l\u00e3i su\u1ea5t s\u1ebd t\u0103ng \u0111\u1ed3ng th\u1eddi\u201d. Ph\u00e1n quy\u1ebft n\u00e0y t\u1ea1o th\u00e0nh s\u1ef1 \u0111\u00e0n \u00e1p v\u0129 m\u00f4 c\u1ed1t l\u00f5i c\u1ee7a v\u00e0ng hi\u1ec7n nay.<\/p>\n

\"\u0110\u00e1nh<\/p>\n

Hoisington \u0111\u00e3 ch\u1ec9 ra trong b\u00e1o c\u00e1o h\u00e0ng qu\u00fd r\u1eb1ng th\u00e2m h\u1ee5t t\u00e0i ch\u00ednh ng\u00e0y c\u00e0ng gia t\u0103ng v\u00e0 nhu c\u1ea7u v\u1ed1n t\u0103ng l\u00ean t\u1ea1o th\u00e0nh m\u1ed9t n\u1ec1n t\u1ea3ng c\u01a1 c\u1ea5u r\u1ed9ng l\u1edbn h\u01a1n. Ph\u1ea1m vi l\u1ea1m ph\u00e1t c\u00e2n b\u1eb1ng d\u00e0i h\u1ea1n \u0111ang t\u0103ng l\u00ean 3,5%-4,5% v\u00e0 c\u00f3 nguy c\u01a1 cao v\u1ec1 vi\u1ec7c \u0111\u1ed9t ph\u00e1 \u0111\u1ecbnh k\u1ef3 5%, \u0111i\u1ec1u n\u00e0y s\u1ebd \u0111\u1ea9y l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c d\u00e0i h\u1ea1n ti\u1ebfp t\u1ee5c t\u0103ng. \u0110\u1ed1i v\u1edbi v\u00e0ng, \u0111i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0 chi ph\u00ed c\u01a1 h\u1ed9i n\u1eafm gi\u1eef t\u0103ng l\u00ean m\u1ed9t c\u00e1ch c\u00f3 h\u1ec7 th\u1ed1ng: khi tr\u00e1i phi\u1ebfu phi r\u1ee7i ro c\u1ee7a M\u1ef9 c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c mang l\u1ea1i l\u1ee3i su\u1ea5t kho\u1ea3ng 5%, s\u1ee9c h\u1ea5p d\u1eabn ph\u00e2n b\u1ed5 c\u1ee7a v\u00e0ng kh\u00f4ng tr\u1ea3 l\u00e3i s\u1ebd gi\u1ea3m d\u1ea7n theo t\u1eebng giai \u0111o\u1ea1n v\u00e0 d\u00f2ng ti\u1ec1n t\u1eeb th\u1ecb tr\u01b0\u1eddng kim lo\u1ea1i qu\u00fd sang th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu s\u1ebd tr\u1edf n\u00ean t\u1ea5t y\u1ebfu. \u0110\u1ed3ng th\u1eddi, vi\u1ec7c ch\u00ednh ph\u1ee7 Hoa K\u1ef3 t\u00e0i tr\u1ee3 cho th\u00e2m h\u1ee5t t\u00e0i ch\u00ednh v\u00e0 \u0111\u00f2n b\u1ea9y c\u1ee7a c\u00e1c c\u00f4ng ty \u0111\u1ec3 \u0111\u1ea7u t\u01b0 v\u00e0o tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o \u0111ang \u0111\u1ed3ng th\u1eddi \u0111\u1ea9y ngu\u1ed3n cung tr\u00e1i phi\u1ebfu t\u0103ng l\u00ean. S\u1ef1 m\u1ea5t c\u00e2n b\u1eb1ng gi\u1eefa cung v\u00e0 c\u1ea7u s\u1ebd ti\u1ebfp t\u1ee5c \u0111\u1ea9y s\u1ea3n l\u01b0\u1ee3ng l\u00ean cao. Qu\u00e1 tr\u00ecnh n\u00e0y c\u0169ng s\u1ebd \u1ee9c ch\u1ebf v\u00e0ng v\u1ec1 l\u00e2u d\u00e0i.<\/p>\n

T\u00e1c \u0111\u1ed9ng c\u1ee7a vi\u1ec7c ti\u1ebfp t\u1ee5c m\u1edf r\u1ed9ng quy m\u00f4 n\u1ee3 mang t\u00ednh hai m\u1eb7t h\u01a1n. M\u1ed9t m\u1eb7t, vi\u1ec7c m\u1edf r\u1ed9ng n\u1ee3 \u0111\u00e3 \u0111\u1ea9y ph\u00ed b\u1ea3o hi\u1ec3m r\u1ee7i ro n\u1ee3 c\u1ee7a M\u1ef9 l\u00ean cao, \u0111\u1ea9y l\u00e3i su\u1ea5t l\u00ean cao v\u00e0 k\u00ecm h\u00e3m gi\u00e1 v\u00e0ng trong ng\u1eafn h\u1ea1n; m\u1eb7t kh\u00e1c, vi\u1ec7c t\u00edch l\u0169y r\u1ee7i ro t\u00edn d\u1ee5ng c\u00f3 ch\u1ee7 quy\u1ec1n ch\u00ednh x\u00e1c l\u00e0 s\u1ef1 h\u1ed7 tr\u1ee3 c\u1ed1t l\u00f5i cho gi\u00e1 tr\u1ecb l\u00e2u d\u00e0i c\u1ee7a v\u00e0ng. Ch\u1ec9 l\u00e0 \u1edf giai \u0111o\u1ea1n hi\u1ec7n t\u1ea1i, \u0111\u1ed9ng l\u1ef1c mang t\u00ednh chu k\u1ef3 c\u1ee7a l\u00e3i su\u1ea5t t\u0103ng \u0111ang chi\u1ebfm \u01b0u th\u1ebf v\u00e0 th\u1ecb tr\u01b0\u1eddng quan t\u00e2m nhi\u1ec1u h\u01a1n \u0111\u1ebfn l\u1ee3i th\u1ebf thu nh\u1eadp t\u1eeb n\u1ee3 c\u1ee7a M\u1ef9 h\u01a1n l\u00e0 nhu c\u1ea7u ph\u00f2ng ng\u1eeba r\u1ee7i ro n\u1ee3. \u0110\u00e2y c\u0169ng l\u00e0 l\u00fd do c\u1ed1t l\u00f5i khi\u1ebfn v\u00e0ng ch\u01b0a bao gi\u1edd k\u00edch ho\u1ea1t ho\u1ea1t \u0111\u1ed9ng mua tr\u00fa \u1ea9n an to\u00e0n khi xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb ti\u1ebfp t\u1ee5c n\u00f3ng l\u00ean. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 lo l\u1eafng h\u01a1n r\u1eb1ng t\u00ecnh h\u00ecnh \u1edf Trung \u0110\u00f4ng s\u1ebd \u0111\u1ea9y gi\u00e1 d\u1ea7u l\u00ean cao v\u00e0 l\u00e0m tr\u1ea7m tr\u1ecdng th\u00eam l\u1ea1m ph\u00e1t, t\u1eeb \u0111\u00f3 bu\u1ed9c C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang ph\u1ea3i duy tr\u00ec l\u00e3i su\u1ea5t cao, \u0111i\u1ec1u n\u00e0y cu\u1ed1i c\u00f9ng s\u1ebd g\u00e2y b\u1ea5t l\u1ee3i cho v\u00e0ng.<\/p>\n

<\/a>C\u1ed9ng h\u01b0\u1edfng v\u0129 m\u00f4 v\u00e0 k\u1ef9 thu\u1eadt, chu k\u1ef3 \u0111i\u1ec1u ch\u1ec9nh v\u1eabn ch\u01b0a k\u1ebft th\u00fac<\/strong><\/p>\n

Nh\u1eefng c\u01a1n gi\u00f3 ng\u01b0\u1ee3c v\u0129 m\u00f4 c\u1ee7a vi\u1ec7c l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n t\u0103ng cao, k\u1ebft h\u1ee3p v\u1edbi c\u00e1c ch\u1ea5t x\u00fac t\u00e1c ch\u00ednh s\u00e1ch v\u00e0 \u0111\u1ecba ch\u00ednh tr\u1ecb ng\u1eafn h\u1ea1n, c\u1ed9ng h\u01b0\u1edfng v\u1edbi c\u00e1c t\u00edn hi\u1ec7u k\u1ef9 thu\u1eadt gi\u1ea3m gi\u00e1, \u0111\u00e3 khi\u1ebfn m\u1ee9c \u0111\u1ed9 \u0111i\u1ec1u ch\u1ec9nh v\u00e0ng n\u00e0y cao h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi c\u00e1c \u0111\u1ee3t \u0111i\u1ec1u ch\u1ec9nh th\u00f4ng th\u01b0\u1eddng tr\u01b0\u1edbc \u0111\u00f3. Hi\u1ec7n t\u1ea1i, qu\u00e1 tr\u00ecnh \u0111i\u1ec1u ch\u1ec9nh v\u1eabn ch\u01b0a k\u1ebft th\u00fac. Trong ng\u1eafn h\u1ea1n, t\u00ecnh h\u00ecnh leo thang t\u1ea1i Trung \u0110\u00f4ng \u0111ang ti\u1ebfp t\u1ee5c k\u00ecm h\u00e3m v\u00e0ng th\u00f4ng qua chu\u1ed7i \u201cgi\u00e1 d\u1ea7u - l\u1ea1m ph\u00e1t - t\u0103ng l\u00e3i su\u1ea5t\u201d. Xung \u0111\u1ed9t M\u1ef9-Iran g\u1ea7n \u0111\u00e2y l\u1ea1i leo thang. Qu\u00e2n \u0111\u1ed9i M\u1ef9 \u0111\u00e3 b\u1eaft \u0111\u1ea7u l\u1ea1i vi\u1ec7c phong t\u1ecfa h\u1ea3i qu\u00e2n c\u00e1c c\u1ea3ng c\u1ee7a Iran v\u00e0 ti\u1ebfn h\u00e0nh c\u00e1c cu\u1ed9c kh\u00f4ng k\u00edch li\u00ean t\u1ee5c v\u00e0o c\u00e1c c\u01a1 s\u1edf ph\u00f2ng th\u1ee7 ven bi\u1ec3n. Tranh ch\u1ea5p tr\u00ean eo bi\u1ec3n Hormuz ti\u1ebfp t\u1ee5c leo thang, \u0111\u1ea9y gi\u00e1 d\u1ea7u th\u00f4 n\u00f3i chung t\u0103ng cao. Tuy nhi\u00ean, gi\u00e1 n\u0103ng l\u01b0\u1ee3ng t\u0103ng kh\u00f4ng th\u00fac \u0111\u1ea9y vi\u1ec7c mua v\u00e0ng tr\u00fa \u1ea9n an to\u00e0n m\u00e0 thay v\u00e0o \u0111\u00f3 c\u00e0ng l\u00e0m t\u0103ng th\u00eam lo ng\u1ea1i l\u1ea1m ph\u00e1t c\u1ee7a th\u1ecb tr\u01b0\u1eddng. C\u00f4ng c\u1ee5 theo d\u00f5i Fed c\u1ee7a T\u1eadp \u0111o\u00e0n CME cho th\u1ea5y c\u00e1c nh\u00e0 giao d\u1ecbch \u0111\u1ecbnh gi\u00e1 \u0111\u1ee3t t\u0103ng l\u00e3i su\u1ea5t 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n v\u00e0o th\u00e1ng 9. X\u00e1c su\u1ea5t \u0111\u00e3 t\u0103ng l\u00ean 51%. Ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang Warsh nh\u1eafc l\u1ea1i cam k\u1ebft ki\u1ec1m ch\u1ebf l\u1ea1m ph\u00e1t, \u0111i\u1ec1u n\u00e0y c\u00e0ng c\u1ee7ng c\u1ed1 k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng r\u1eb1ng l\u00e3i su\u1ea5t cao s\u1ebd \u0111\u01b0\u1ee3c duy tr\u00ec trong th\u1eddi gian d\u00e0i h\u01a1n. Vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh t\u0103ng k\u1ef3 v\u1ecdng l\u00e3i su\u1ea5t ng\u1eafn h\u1ea1n ti\u1ebfp t\u1ee5c g\u00e2y \u00e1p l\u1ef1c gi\u1ea3m gi\u00e1 v\u00e0ng.<\/p>\n

\"\u0110\u00e1nh<\/p>\n

C\u00e1c t\u00edn hi\u1ec7u k\u1ef9 thu\u1eadt c\u00e0ng kh\u1eb3ng \u0111\u1ecbnh \u0111\u1ed9 s\u00e2u \u0111i\u1ec1u ch\u1ec9nh. Sau khi so s\u00e1nh c\u00e1c xu h\u01b0\u1edbng l\u1ecbch s\u1eed, nh\u00f3m chi\u1ebfn l\u01b0\u1ee3c k\u1ef9 thu\u1eadt c\u1ee7a Bank of America nh\u1eadn th\u1ea5y r\u1eb1ng c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m \u0111i\u1ec1u ch\u1ec9nh hi\u1ec7n t\u1ea1i c\u1ee7a v\u00e0ng r\u1ea5t gi\u1ed1ng v\u1edbi th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng sau hai \u0111\u1ec9nh l\u1ecbch s\u1eed v\u00e0o n\u0103m 1980 v\u00e0 2011: s\u1ef1 h\u00ecnh th\u00e0nh m\u00f4 h\u00ecnh death cross, s\u1ef1 xu\u1ea5t hi\u1ec7n c\u1ee7a \u0111\u01b0\u1eddng K c\u1ea3nh b\u00e1o h\u00e0ng \u0111\u1ea7u, ch\u1ec9 b\u00e1o chu\u1ed7i TD g\u1eedi t\u00edn hi\u1ec7u c\u1ea1n ki\u1ec7t xu h\u01b0\u1edbng v\u00e0 ch\u1ec9 s\u1ed1 s\u1ee9c m\u1ea1nh t\u01b0\u01a1ng \u0111\u1ed1i t\u1eebng t\u0103ng l\u00ean 90 \u1edf m\u1ee9c cao tr\u01b0\u1edbc \u0111\u00f3, ho\u00e0n to\u00e0n ph\u00f9 h\u1ee3p v\u1edbi \u0111\u1eb7c \u0111i\u1ec3m c\u1ee7a hai \u0111\u1ec9nh l\u1ecbch s\u1eed. Bank of America ch\u1ec9 ra r\u1eb1ng \u0111\u1ee3t t\u0103ng gi\u00e1 n\u00e0y \u0111\u00e3 k\u00e9o d\u00e0i 121 tu\u1ea7n, nh\u01b0ng vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh hi\u1ec7n t\u1ea1i ch\u1ec9 \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n trong 24 tu\u1ea7n, v\u1eabn ch\u01b0a \u0111\u1ee7 v\u1ec1 m\u1eb7t th\u1eddi gian; m\u1eb7c d\u00f9 gi\u00e1 v\u00e0ng \u0111\u00e3 gi\u1ea3m xu\u1ed1ng d\u01b0\u1edbi m\u1ee9c tho\u00e1i lui Fibonacci 38,2% l\u00e0 4.149 USD, nh\u01b0ng d\u1ef1a tr\u00ean quy t\u1eafc r\u1eb1ng ba th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng l\u1edbn k\u1ec3 t\u1eeb n\u0103m 1970 \u0111\u00e3 l\u1ea5y l\u1ea1i \u00edt nh\u1ea5t 50% l\u1ee3i nhu\u1eadn tr\u01b0\u1edbc \u0111\u00f3 c\u1ee7a h\u1ecd, gi\u00e1 v\u00e0ng v\u1eabn c\u00f2n ch\u1ed7 \u0111\u1ec3 kh\u00e1m ph\u00e1 th\u00eam v\u00e0 c\u00e1c m\u1ee5c ti\u00eau gi\u1ea3m c\u1ed1t l\u00f5i \u0111\u1ec3 t\u00ednh to\u00e1n bao g\u1ed3m m\u1ee9c tho\u00e1i lui 50%. M\u00f4 h\u00ecnh 174 tu\u1ea7n t\u01b0\u01a1ng \u1ee9ng v\u1edbi 3.702 USD v\u00e0 3.605 USD, c\u00f3 th\u1ec3 gi\u1ea3m xu\u1ed1ng 3.315 USD trong nh\u1eefng tr\u01b0\u1eddng h\u1ee3p c\u1ef1c \u0111oan.<\/p>\n

<\/a>\u0110i\u1ec1u ch\u1ec9nh \u0111\u1ecbnh k\u1ef3 thay v\u00ec \u0111\u1ea3o ng\u01b0\u1ee3c xu h\u01b0\u1edbng, m\u1edf c\u1eeda s\u1ed5 b\u1ed1 c\u1ee5c h\u00e0ng lo\u1ea1t<\/strong><\/p>\n

M\u1eb7c d\u00f9 \u00e1p l\u1ef1c ng\u1eafn h\u1ea1n l\u00e0 r\u00f5 r\u00e0ng, nh\u01b0ng \u0111\u1ee3t \u0111i\u1ec1u ch\u1ec9nh n\u00e0y v\u1ec1 c\u01a1 b\u1ea3n l\u00e0 s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh th\u1ee9 c\u1ea5p trong xu h\u01b0\u1edbng t\u0103ng d\u00e0i h\u1ea1n, ch\u1ee9 kh\u00f4ng ph\u1ea3i l\u00e0 s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c ho\u00e0n to\u00e0n c\u1ee7a xu h\u01b0\u1edbng. Ngo\u00e0i ra c\u00f2n c\u00f3 gi\u1edbi h\u1ea1n cho vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu, \u0111i\u1ec1u n\u00e0y c\u0169ng x\u00e1c \u0111\u1ecbnh r\u1eb1ng s\u1ef1 s\u1ee5t gi\u1ea3m c\u1ee7a v\u00e0ng s\u1ebd kh\u00f4ng ph\u1ea3i l\u00e0 m\u1ed9t xu h\u01b0\u1edbng \u0111\u01a1n ph\u01b0\u01a1ng. Bank of America \u0111\u00e1nh gi\u00e1 r\u1eb1ng v\u00e0ng c\u00f3 nhi\u1ec1u kh\u1ea3 n\u0103ng l\u1eb7p l\u1ea1i xu h\u01b0\u1edbng sau khi \u0111\u1ea1t \u0111\u1ec9nh v\u00e0o n\u0103m 2011 - l\u1ea7n \u0111\u1ea7u ti\u00ean ph\u1ee5c h\u1ed3i tr\u1edf l\u1ea1i ph\u1ea1m vi 4325-4500 \u0111\u00f4 la M\u1ef9, sau \u0111\u00f3 ki\u1ec3m tra l\u1ea1i m\u1ee9c h\u1ed7 tr\u1ee3 c\u1ed1t l\u00f5i, thay v\u00ec ti\u1ebfp t\u1ee5c gi\u1ea3m ho\u00e0n to\u00e0n.<\/p>\n

V\u1ec1 l\u00e2u d\u00e0i, logic c\u1ed1t l\u00f5i h\u1ed7 tr\u1ee3 v\u00e0ng v\u1eabn ch\u01b0a bi\u1ebfn m\u1ea5t do l\u00e3i su\u1ea5t t\u0103ng. Vi\u1ec7c m\u1edf r\u1ed9ng n\u1ee3 v\u00e0 th\u00e2m h\u1ee5t t\u00e0i ch\u00ednh ngo\u00e0i t\u1ea7m ki\u1ec3m so\u00e1t m\u00e0 Hoisington lo l\u1eafng ch\u00ednh l\u00e0 l\u1ee3i \u00edch d\u00e0i h\u1ea1n c\u1ed1t l\u00f5i c\u1ee7a v\u00e0ng - khi r\u1ee7i ro t\u00edn d\u1ee5ng c\u1ee7a c\u00e1c lo\u1ea1i ti\u1ec1n t\u1ec7 c\u00f3 ch\u1ee7 quy\u1ec1n ti\u1ebfp t\u1ee5c t\u00edch l\u0169y, gi\u00e1 tr\u1ecb ph\u00f2ng ng\u1eeba r\u1ee7i ro c\u1ee7a v\u00e0ng nh\u01b0 m\u1ed9t t\u00e0i s\u1ea3n kh\u00f4ng c\u00f3 r\u1ee7i ro t\u00edn d\u1ee5ng s\u1ebd ch\u1ec9 tr\u1edf n\u00ean n\u1ed5i b\u1eadt h\u01a1n. C\u00f9ng v\u1edbi vi\u1ec7c c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng to\u00e0n c\u1ea7u ti\u1ebfp t\u1ee5c mua v\u00e0ng v\u00e0 s\u1ef1 ti\u1ebfn b\u1ed9 \u1ed5n \u0111\u1ecbnh c\u1ee7a qu\u00e1 tr\u00ecnh phi \u0111\u00f4 la h\u00f3a, trung t\u00e2m \u0111\u1ecbnh gi\u00e1 d\u00e0i h\u1ea1n c\u1ee7a v\u00e0ng v\u1eabn c\u00f3 \u0111\u00e0 t\u0103ng. Vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh hi\u1ec7n t\u1ea1i mang t\u00ednh ch\u1ea5t s\u1eeda ch\u1eefa theo t\u1eebng giai \u0111o\u1ea1n m\u1ee9c \u0111\u1ecbnh gi\u00e1 h\u01a1n l\u00e0 \u0111\u1ea3o ng\u01b0\u1ee3c ho\u00e0n to\u00e0n c\u00e1c nguy\u00ean t\u1eafc c\u01a1 b\u1ea3n. Nh\u00ecn chung, nh\u1eefng tr\u1edf ng\u1ea1i v\u1ec1 vi\u1ec7c l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu ng\u1eafn h\u1ea1n c\u1ee7a M\u1ef9 t\u0103ng v\u1eabn c\u00f2n \u0111\u00f3 v\u00e0 kh\u00f4ng n\u00ean v\u1ed9i v\u00e0ng gi\u1ea3m xu\u1ed1ng m\u1ed9t l\u1ea7n. Tuy nhi\u00ean, khi gi\u00e1 gi\u1ea3m d\u1ea7n, hi\u1ec7u qu\u1ea3 chi ph\u00ed c\u1ee7a vi\u1ec7c ph\u00e2n b\u1ed5 v\u00e0ng trung v\u00e0 d\u00e0i h\u1ea1n \u0111ang ti\u1ebfp t\u1ee5c \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n. Hi\u1ec7n t\u1ea1i, vi\u1ec7c n\u1eafm b\u1eaft t\u1ed1c \u0111\u1ed9 \u0111i\u1ec1u ch\u1ec9nh v\u00e0 tri\u1ec3n khai theo \u0111\u1ee3t l\u00e0 l\u1ef1a ch\u1ecdn t\u1ed1t h\u01a1n.<\/p>","protected":false},"excerpt":{"rendered":"

Hoisington, con b\u00f2 t\u00f3t 30 n\u0103m tr\u00ean th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu, chuy\u1ec3n sang ti\u00eau c\u1ef1c, x\u00e1c nh\u1eadn trung t\u00e2m l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n \u0111\u00e3 di chuy\u1ec3n l\u00ean tr\u00ean \u0111\u1ec3 k\u00ecm h\u00e3m v\u00e0ng. S\u1ef1 leo thang c\u1ee7a cu\u1ed9c xung \u0111\u1ed9t gi\u1eefa Hoa K\u1ef3 v\u00e0 Iran \u0111\u00e3 kh\u00f4ng k\u00edch ho\u1ea1t vi\u1ec7c mua n\u01a1i tr\u00fa \u1ea9n an to\u00e0n. Kh\u00eda c\u1ea1nh k\u1ef9 thu\u1eadt r\u1ea5t gi\u1ed1ng v\u1edbi \u0111\u1ec9nh n\u0103m 1980 v\u00e0 2011, \u0111\u1ed3ng th\u1eddi m\u1ee5c ti\u00eau tho\u00e1i lui 50% l\u00e0 h\u01b0\u1edbng t\u1edbi 3.702 USD. Tuy nhi\u00ean, s\u1ef1 h\u1ed7 tr\u1ee3 d\u00e0i h\u1ea1n cho vi\u1ec7c m\u1edf r\u1ed9ng n\u1ee3 v\u00e0 th\u00e2m h\u1ee5t t\u00e0i ch\u00ednh kh\u00f4ng thay \u0111\u1ed5i. T\u00ecnh h\u00ecnh hi\u1ec7n t\u1ea1i l\u00e0 s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh theo chu k\u1ef3 ch\u1ee9 kh\u00f4ng ph\u1ea3i l\u00e0 s\u1ef1 \u0111\u1ea3o ng\u01b0\u1ee3c xu h\u01b0\u1edbng v\u00e0 n\u00ean tri\u1ec3n khai theo \u0111\u1ee3t.<\/p>","protected":false},"author":1,"featured_media":10082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[121],"tags":[1090,1091,1089,669,1093,1092],"class_list":["post-10081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-1090","tag-1091","tag-1089","tag-669","tag-1093","tag-1092"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.ycnkyy.com\/vi\/wp-json\/wp\/v2\/posts\/10081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ycnkyy.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ycnkyy.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ycnkyy.com\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ycnkyy.com\/vi\/wp-json\/wp\/v2\/comments?post=10081"}],"version-history":[{"count":1,"href":"https:\/\/www.ycnkyy.com\/vi\/wp-json\/wp\/v2\/posts\/10081\/revisions"}],"predecessor-version":[{"id":10085,"href":"https:\/\/www.ycnkyy.com\/vi\/wp-json\/wp\/v2\/posts\/10081\/revisions\/10085"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ycnkyy.com\/vi\/wp-json\/wp\/v2\/media\/10082"}],"wp:attachment":[{"href":"https:\/\/www.ycnkyy.com\/vi\/wp-json\/wp\/v2\/media?parent=10081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ycnkyy.com\/vi\/wp-json\/wp\/v2\/categories?post=10081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ycnkyy.com\/vi\/wp-json\/wp\/v2\/tags?post=10081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}