
9 11FOMC +longerhigherlonger 2% 20111290 Z0017101 1.higherlonger...............................1 1.1.1:115.25-5.50%..............................................................................................................................11.1.2:10...................................................21.1.3:910...................................................................................................................31.1.4:%.............................................................41.1.5:.......................................5 1.higherlonger 115.25-5.50%2023 1116at a modest pace7at a moderate pace9at a solidpace11at a strong pace2tighter credit conditiontighterfinancial and credit condition34slowedmoderated9 1015910 5.5910101094.1% 12 longerhigherlonger 115CME FedWatch1295.2% 2% / 136310008400 8888 910www.nanhua.net603093