{"id":52498,"date":"2026-10-30T09:08:56","date_gmt":"2026-10-30T02:08:56","guid":{"rendered":"https:\/\/edutrade.vn\/?p=52498"},"modified":"2026-10-30T09:08:56","modified_gmt":"2026-10-30T02:08:56","slug":"loi-suat-trai-phieu-my-dinh-24-nam-fed","status":"publish","type":"post","link":"https:\/\/edutrade.vn\/en\/loi-suat-trai-phieu-my-dinh-24-nam-fed\/","title":{"rendered":"L\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu M\u1ef9 l\u00ean \u0111\u1ec9nh 24 n\u0103m, Fed ch\u1ecbu s\u1ee9c \u00e9p"},"content":{"rendered":"

L\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu M\u1ef9 d\u00e0i h\u1ea1n ch\u1ea1m m\u1ee9c cao nh\u1ea5t trong 24 n\u0103m h\u1ed3i \u0111\u1ea7u th\u00e1ng 10, trong khi quy\u1ebft \u0111\u1ecbnh gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t c\u1ee7a Fed ti\u1ebfp t\u1ee5c g\u00e2y tranh lu\u1eadn. Nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang ch\u1edd k\u1ebf ho\u1ea1ch huy \u0111\u1ed9ng v\u1ed1n c\u1ee7a B\u1ed9 T\u00e0i ch\u00ednh M\u1ef9 \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 kh\u1ea3 n\u0103ng gi\u1ea3m \u00e1p l\u1ef1c l\u00ean th\u1ecb tr\u01b0\u1eddng n\u1ee3.<\/strong><\/p>\n

Fed gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t gi\u1eefa l\u00fac kinh t\u1ebf M\u1ef9 t\u0103ng tr\u01b0\u1edfng m\u1ea1nh<\/h2>\n

Theo VietnamBiz<\/a>, quy\u1ebft \u0111\u1ecbnh gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t t\u1ea1i cu\u1ed9c h\u1ecdp ng\u00e0y 28\/10 c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang M\u1ef9 (Fed) \u0111ang khi\u1ebfn m\u1ed9t b\u1ed9 ph\u1eadn nh\u00e0 \u0111\u1ea7u t\u01b0 lo ng\u1ea1i ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng ch\u01b0a h\u00e0nh \u0111\u1ed9ng \u0111\u1ee7 quy\u1ebft li\u1ec7t tr\u01b0\u1edbc \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t.<\/p>\n

Lo\u1ea1t d\u1eef li\u1ec7u c\u00f4ng b\u1ed1 ng\u00e0y 29\/10 cho th\u1ea5y kinh t\u1ebf M\u1ef9 v\u1eabn duy tr\u00ec s\u1ee9c t\u0103ng tr\u01b0\u1edfng b\u1ea5t ch\u1ea5p chi ph\u00ed vay cao, v\u1edbi \u0111\u1ed9ng l\u1ef1c \u0111\u00e1ng k\u1ec3 t\u1eeb \u0111\u1ea7u t\u01b0 v\u00e0o tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o (AI). GDP qu\u00fd III t\u0103ng 3,4% theo t\u1ed1c \u0111\u1ed9 chu\u1ea9n h\u00f3a theo n\u0103m, v\u01b0\u1ee3t d\u1ef1 b\u00e1o 3,1%.<\/p>\n

T\u1ea1i cu\u1ed9c h\u1ecdp b\u00e1o ng\u00e0y 28\/10, Ch\u1ee7 t\u1ecbch Fed Kevin Warsh kh\u1eb3ng \u0111\u1ecbnh nh\u1eefng nghi ng\u1edd v\u1ec1 quy\u1ebft t\u00e2m ki\u1ec3m so\u00e1t l\u1ea1m ph\u00e1t c\u1ee7a c\u01a1 quan n\u00e0y l\u00e0 kh\u00f4ng c\u00f3 c\u01a1 s\u1edf. Tuy nhi\u00ean, Fed l\u1ef1a ch\u1ecdn ch\u1edd th\u00eam d\u1eef li\u1ec7u tr\u01b0\u1edbc khi quy\u1ebft \u0111\u1ecbnh b\u01b0\u1edbc \u0111i ti\u1ebfp theo.<\/p>\n

\u00d4ng Jim Baird, Gi\u00e1m \u0111\u1ed1c \u0111\u1ea7u t\u01b0 t\u1ea1i Plante Moran Financial Advisors, cho r\u1eb1ng c\u00e1c s\u1ed1 li\u1ec7u kinh t\u1ebf m\u1edbi khi\u1ebfn vi\u1ec7c ti\u1ebfp t\u1ee5c tr\u00ec ho\u00e3n t\u0103ng l\u00e3i su\u1ea5t tr\u1edf n\u00ean kh\u00f3 bi\u1ec7n minh h\u01a1n n\u1ebfu Fed th\u1ef1c s\u1ef1 mu\u1ed1n ki\u1ec1m ch\u1ebf \u00e1p l\u1ef1c gi\u00e1 c\u1ea3.<\/p>\n

Quy\u1ebft \u0111\u1ecbnh t\u1ea1m d\u1eebng trong th\u00e1ng 10 v\u00ec v\u1eady \u0111ang l\u00e0m gia t\u0103ng k\u1ef3 v\u1ecdng Fed s\u1ebd ph\u1ea3i t\u0103ng l\u00e3i su\u1ea5t t\u1ea1i cu\u1ed9c h\u1ecdp th\u00e1ng 12. D\u00f9 v\u1eady, \u0111\u00e2y v\u1eabn l\u00e0 \u0111\u00e1nh gi\u00e1 c\u1ee7a th\u1ecb tr\u01b0\u1eddng, ch\u01b0a ph\u1ea3i cam k\u1ebft ch\u00ednh s\u00e1ch t\u1eeb ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng M\u1ef9.<\/p>\n

L\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu M\u1ef9 ph\u1ea3n \u00e1nh lo ng\u1ea1i v\u1ec1 l\u1ea1m ph\u00e1t v\u00e0 ngu\u1ed3n cung n\u1ee3<\/h2>\n

Ph\u1ea3n \u1ee9ng tr\u00ean th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu cho th\u1ea5y nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1eabn th\u1eadn tr\u1ecdng v\u1edbi tri\u1ec3n v\u1ecdng l\u00e3i su\u1ea5t v\u00e0 kh\u1ea3 n\u0103ng ki\u1ec3m so\u00e1t l\u1ea1m ph\u00e1t c\u1ee7a Fed.<\/p>\n

L\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 k\u1ef3 h\u1ea1n 30 n\u0103m t\u0103ng m\u1ea1nh trong bu\u1ed5i h\u1ecdp b\u00e1o ng\u00e0y 28\/10 c\u1ee7a \u00f4ng Warsh. Sang ng\u00e0y 29\/10, l\u1ee3i su\u1ea5t h\u1ea1 nhi\u1ec7t khi d\u00f2ng ti\u1ec1n t\u00ecm \u0111\u1ebfn t\u00e0i s\u1ea3n tr\u00fa \u1ea9n gi\u1eefa \u0111\u1ee3t b\u00e1n th\u00e1o c\u1ed5 phi\u1ebfu c\u00f4ng ngh\u1ec7.<\/p>\n

\u00d4ng Gennadiy Goldberg, Tr\u01b0\u1edfng b\u1ed9 ph\u1eadn chi\u1ebfn l\u01b0\u1ee3c l\u00e3i su\u1ea5t M\u1ef9 t\u1ea1i TD Securities, nh\u1eadn \u0111\u1ecbnh \u0111\u00e0 t\u0103ng l\u1ee3i su\u1ea5t ng\u00e0y 28\/10 c\u00f3 th\u1ec3 ph\u1ea3n \u00e1nh \u0111\u1ed3ng th\u1eddi hai m\u1ed1i lo: uy t\u00edn ch\u1ed1ng l\u1ea1m ph\u00e1t c\u1ee7a Fed v\u00e0 l\u01b0\u1ee3ng tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 \u0111\u01b0a ra th\u1ecb tr\u01b0\u1eddng.<\/p>\n

\u00c1p l\u1ef1c ngu\u1ed3n cung \u0111\u1eb7c bi\u1ec7t \u0111\u00e1ng ch\u00fa \u00fd khi nhu c\u1ea7u vay c\u1ee7a Ch\u00ednh ph\u1ee7 M\u1ef9 v\u1eabn l\u1edbn, trong b\u1ed1i c\u1ea3nh th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch l\u00ean t\u1edbi 2.000 t\u1ef7 USD. Tr\u01b0\u1edbc \u0111\u00f3, l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 M\u1ef9 d\u00e0i h\u1ea1n \u0111\u00e3 ch\u1ea1m m\u1ee9c cao nh\u1ea5t trong 24 n\u0103m h\u1ed3i \u0111\u1ea7u th\u00e1ng 10.<\/p>\n

Ngo\u00e0i l\u1ea1m ph\u00e1t v\u00e0 n\u1ee3 c\u00f4ng, l\u00e0n s\u00f3ng ph\u00e1t h\u00e0nh n\u1ee3 \u0111\u1ec3 t\u00e0i tr\u1ee3 x\u00e2y d\u1ef1ng h\u1ea1 t\u1ea7ng AI trong n\u0103m nay c\u0169ng g\u00f3p ph\u1ea7n t\u1ea1o s\u1ee9c \u00e9p l\u00ean th\u1ecb tr\u01b0\u1eddng v\u1ed1n.<\/p>\n

L\u1ee3i su\u1ea5t 10 n\u0103m t\u0103ng m\u1ea1nh t\u1eeb th\u1eddi \u0111i\u1ec3m chuy\u1ec3n giao l\u00e3nh \u0111\u1ea1o Fed<\/h3>\n

T\u00ednh t\u1eeb m\u1ed9t ng\u00e0y tr\u01b0\u1edbc khi \u00f4ng Warsh nh\u1eadm ch\u1ee9c Ch\u1ee7 t\u1ecbch Fed v\u00e0o ng\u00e0y 22\/5, l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 k\u1ef3 h\u1ea1n 10 n\u0103m \u0111\u00e3 t\u0103ng 42,4 \u0111i\u1ec3m c\u01a1 b\u1ea3n, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 0,424 \u0111i\u1ec3m ph\u1ea7n tr\u0103m.<\/p>\n

Theo Dow Jones Market Data, \u0111\u00e2y l\u00e0 m\u1ee9c t\u0103ng m\u1ea1nh nh\u1ea5t trong giai \u0111o\u1ea1n \u0111\u1ea7u nhi\u1ec7m k\u1ef3 c\u1ee7a m\u1ed9t Ch\u1ee7 t\u1ecbch Fed k\u1ec3 t\u1eeb khi \u00f4ng Ben Bernanke tuy\u00ean th\u1ec7 nh\u1eadm ch\u1ee9c ng\u00e0y 1\/2\/2006.<\/p>\n

\u00d4ng Baird cho r\u1eb1ng m\u1ed9t ph\u1ea7n bi\u1ebfn \u0111\u1ed9ng di\u1ec5n ra trong qu\u00e1 tr\u00ecnh chuy\u1ec3n giao t\u1eeb c\u1ef1u Ch\u1ee7 t\u1ecbch Jerome Powell sang \u00f4ng Warsh. Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n th\u1eddi gian th\u00edch nghi v\u1edbi phong c\u00e1ch truy\u1ec1n th\u00f4ng k\u00edn ti\u1ebfng h\u01a1n c\u1ee7a ng\u01b0\u1eddi \u0111\u1ee9ng \u0111\u1ea7u Fed.<\/p>\n

Tuy nhi\u00ean, thay \u0111\u1ed5i nh\u00e2n s\u1ef1 ch\u1ec9 l\u00e0 m\u1ed9t y\u1ebfu t\u1ed1. Tri\u1ec3n v\u1ecdng l\u1ea1m ph\u00e1t, g\u00e1nh n\u1eb7ng n\u1ee3 c\u00f4ng v\u00e0 nhu c\u1ea7u huy \u0111\u1ed9ng v\u1ed1n l\u1edbn v\u1eabn l\u00e0 nh\u1eefng nguy\u00ean nh\u00e2n quan tr\u1ecdng khi\u1ebfn l\u1ee3i su\u1ea5t duy tr\u00ec \u1edf m\u1ee9c cao.<\/p>\n

B\u1ed9 T\u00e0i ch\u00ednh M\u1ef9 c\u00f3 th\u1ec3 \u0111i\u1ec1u ch\u1ec9nh c\u01a1 c\u1ea5u ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu<\/h2>\n

K\u1ebf ho\u1ea1ch huy \u0111\u1ed9ng v\u1ed1n cho qu\u00fd t\u1edbi c\u1ee7a B\u1ed9 T\u00e0i ch\u00ednh M\u1ef9, d\u1ef1 ki\u1ebfn c\u00f4ng b\u1ed1 ng\u00e0y 4\/11, \u0111ang tr\u1edf th\u00e0nh t\u00e2m \u0111i\u1ec3m theo d\u00f5i.<\/p>\n

Nh\u00f3m chuy\u00ean gia TD Securities d\u1ef1 b\u00e1o c\u01a1 quan n\u00e0y c\u00f3 th\u1ec3 ph\u00e1t t\u00edn hi\u1ec7u thu h\u1eb9p quy m\u00f4 \u0111\u1ea5u gi\u00e1 tr\u00e1i phi\u1ebfu k\u1ef3 h\u1ea1n 10 n\u0103m v\u00e0 30 n\u0103m trong n\u0103m 2027. Theo \u01b0\u1edbc t\u00ednh c\u1ee7a nh\u00f3m, ph\u01b0\u01a1ng \u00e1n n\u00e0y c\u00f3 th\u1ec3 gi\u1ea3m kho\u1ea3ng 11% l\u01b0\u1ee3ng tr\u00e1i phi\u1ebfu d\u00e0i h\u1ea1n ph\u00e1t h\u00e0nh m\u1ed7i qu\u00fd.<\/p>\n

Thay v\u00e0o \u0111\u00f3, B\u1ed9 T\u00e0i ch\u00ednh M\u1ef9 c\u00f3 th\u1ec3 t\u0103ng ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu k\u1ef3 h\u1ea1n 2 n\u0103m, qua \u0111\u00f3 chuy\u1ec3n m\u1ed9t ph\u1ea7n nhu c\u1ea7u huy \u0111\u1ed9ng v\u1ed1n sang k\u1ef3 h\u1ea1n ng\u1eafn h\u01a1n v\u00e0 gi\u1ea3m s\u1ee9c \u00e9p ngu\u1ed3n cung \u1edf k\u1ef3 h\u1ea1n d\u00e0i.<\/p>\n

Do gi\u00e1 tr\u00e1i phi\u1ebfu bi\u1ebfn \u0111\u1ed9ng ng\u01b0\u1ee3c chi\u1ec1u v\u1edbi l\u1ee3i su\u1ea5t, vi\u1ec7c gi\u1ea3m l\u01b0\u1ee3ng ph\u00e1t h\u00e0nh d\u00e0i h\u1ea1n \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng h\u1ed7 tr\u1ee3 gi\u00e1 v\u00e0 g\u00f3p ph\u1ea7n h\u1ea1 nhi\u1ec7t l\u1ee3i su\u1ea5t \u1edf nh\u00f3m k\u1ef3 h\u1ea1n n\u00e0y.<\/p>\n

Tuy nhi\u00ean, ph\u01b0\u01a1ng \u00e1n tr\u00ean hi\u1ec7n l\u00e0 d\u1ef1 b\u00e1o c\u1ee7a TD Securities. Kh\u1ea3 n\u0103ng B\u1ed9 T\u00e0i ch\u00ednh M\u1ef9 \u0111i\u1ec1u ch\u1ec9nh c\u01a1 c\u1ea5u ph\u00e1t h\u00e0nh, c\u0169ng nh\u01b0 quy m\u00f4 th\u1ef1c hi\u1ec7n, c\u00f2n ph\u1ee5 thu\u1ed9c v\u00e0o th\u00f4ng b\u00e1o ch\u00ednh th\u1ee9c ng\u00e0y 4\/11.<\/p>\n

L\u1ee3i su\u1ea5t cao l\u00e0m thay \u0111\u1ed5i c\u00e1ch ph\u00e2n b\u1ed5 danh m\u1ee5c \u0111\u1ea7u t\u01b0<\/h2>\n

M\u1eb7t b\u1eb1ng l\u1ee3i su\u1ea5t t\u0103ng \u0111ang khi\u1ebfn nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 xem x\u00e9t l\u1ea1i t\u1ef7 tr\u1ecdng gi\u1eefa c\u1ed5 phi\u1ebfu v\u00e0 tr\u00e1i phi\u1ebfu.<\/p>\n

Theo \u00f4ng Baird, l\u1ee3i su\u1ea5t c\u1ee7a c\u00e1c tr\u00e1i phi\u1ebfu ch\u1ea5t l\u01b0\u1ee3ng cao hi\u1ec7n \u1edf v\u00f9ng cao nh\u1ea5t trong kho\u1ea3ng 25 n\u0103m. \u0110i\u1ec1u n\u00e0y gi\u00fap tr\u00e1i phi\u1ebfu c\u00f3 s\u1ee9c h\u1ea5p d\u1eabn l\u1edbn h\u01a1n \u0111\u1ed1i v\u1edbi nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc \u0111\u00e2y ch\u1ee7 y\u1ebfu t\u1eadp trung v\u00e0o c\u1ed5 phi\u1ebfu.<\/p>\n

D\u00f9 v\u1eady, tri\u1ec3n v\u1ecdng th\u1ecb tr\u01b0\u1eddng n\u1ee3 v\u1eabn ph\u1ee5 thu\u1ed9c v\u00e0o di\u1ec5n bi\u1ebfn l\u1ea1m ph\u00e1t, quy\u1ebft \u0111\u1ecbnh l\u00e3i su\u1ea5t c\u1ee7a Fed v\u00e0 k\u1ebf ho\u1ea1ch vay v\u1ed1n c\u1ee7a Ch\u00ednh ph\u1ee7 M\u1ef9. Th\u00f4ng b\u00e1o ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu ng\u00e0y 4\/11 s\u1ebd cung c\u1ea5p th\u00eam c\u01a1 s\u1edf \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 li\u1ec7u \u00e1p l\u1ef1c l\u00ean l\u1ee3i su\u1ea5t d\u00e0i h\u1ea1n c\u00f3 th\u1ec3 gi\u1ea3m b\u1edbt trong th\u1eddi gian t\u1edbi.<\/p>","protected":false},"excerpt":{"rendered":"

L\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu M\u1ef9 d\u00e0i h\u1ea1n ch\u1ea1m m\u1ee9c cao nh\u1ea5t trong 24 n\u0103m h\u1ed3i \u0111\u1ea7u th\u00e1ng 10, trong khi quy\u1ebft \u0111\u1ecbnh gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t c\u1ee7a Fed ti\u1ebfp t\u1ee5c g\u00e2y tranh lu\u1eadn. Nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang ch\u1edd k\u1ebf ho\u1ea1ch huy \u0111\u1ed9ng v\u1ed1n c\u1ee7a B\u1ed9 T\u00e0i ch\u00ednh M\u1ef9 \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 kh\u1ea3 n\u0103ng gi\u1ea3m \u00e1p […]<\/p>\n","protected":false},"author":6,"featured_media":52499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_gspb_post_css":"","footnotes":""},"categories":[13],"tags":[],"class_list":["post-52498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tin-tuc"],"blocksy_meta":[],"acf":[],"_links":{"self":[{"href":"https:\/\/edutrade.vn\/en\/wp-json\/wp\/v2\/posts\/52498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edutrade.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edutrade.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edutrade.vn\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/edutrade.vn\/en\/wp-json\/wp\/v2\/comments?post=52498"}],"version-history":[{"count":1,"href":"https:\/\/edutrade.vn\/en\/wp-json\/wp\/v2\/posts\/52498\/revisions"}],"predecessor-version":[{"id":52500,"href":"https:\/\/edutrade.vn\/en\/wp-json\/wp\/v2\/posts\/52498\/revisions\/52500"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edutrade.vn\/en\/wp-json\/wp\/v2\/media\/52499"}],"wp:attachment":[{"href":"https:\/\/edutrade.vn\/en\/wp-json\/wp\/v2\/media?parent=52498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edutrade.vn\/en\/wp-json\/wp\/v2\/categories?post=52498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edutrade.vn\/en\/wp-json\/wp\/v2\/tags?post=52498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}