????? ?????? ??? ??? ????????? ????? ??????? ???????? ??? ????? ?? ??? ?????? ??? ????? ??? ????? 6.4 ????? ???? ??? 6.3 ???? ?? 26 ????.

????? ??? ??????? ????? ?????? ?????? ????? ????????? ?? ??????? ????????? ?? ?????? ???? ????????? ????? ???? ???? ??????? ????????? ????? ??? ???? ??? ??????? ????? ???? ??? ???? ????????? ???? ????? ??? ??? ?????? ????? ???????? ?????? ???????? ?????? ??? ????? ??????? ??? ??? ????? ??????? ???? ??????? ??????? ?? ?????? ?????? ??? ????? ??????? ????? ?????? ???? ??????? ????? ??????? ????? ??????? ??? ???? ??? ??? ???? ????????? ?????.

???? ???????? ??? ?? 25 ????? ?????? ??? ??????? ??????? ??????? ???? ???? ????? ???? ??????? ??? ??????? ????? ????? ???????? ???????? ??? ?????? ??????? ?????? ?????.

???? CICC Macro” " ??????? ?????? ?? ????? 26 ????? ???? ???? ??? ?????? ????? ??? ??? ????????? ????? ??????? ???????? ?? ????????? ??? ???? 25 ????? ??? ???? ????? ???????? ??? 2.5?? ?????? ???? ??? ??? ????????? ???? ????? ????? ??????? ???????? ?????? (CFETS) ?????? 0.5 ? ?? ????? ??? ?????? ??? ??? ??????? ????? ???? ??????? ????? 3.5? ???? ??? ??????. ???? ??? ???? ??????? ???????? ?????? ?????? ????? ???????? ?????? ?? ???? ?????? ????? ??????? ????????.

???? "CICC Macro" ??? ?? ????? ???? ???????? ???????? ???????? ?? ??????? ??????? ???? ???? ??? ????? ????? ??????? ????????? ????? ?????? ???????? ?? ?????? ??? ??? ??? ???? ????????? ??? ????? ?????.

?? ?? ??????? ??????????

??? CICC Macro” ”? ??? ????? ????? ??????? ???????? ???? ???? ??? ????? ?????? ???????? ? ??? ??? ??? ????????? ????? ??????? ???????? ??? ????? ?? ??? ?????????. ????????? ??? ?????? ??? ????? ?????? ?? ?????? ?? ????? ????? ??????? ??????? ?? ???? ????? ???? (FTSE Russell) ???????? ?? ??????? ??? ??? ????? ?????? ???????? ????? ??? ??????. ??? ???? ????? ?? ???? ???? ?????? ?????? ??? ?? ??? 2020 ?? ???? ???????? ???????? ?????? ?????? ????????? ???????? ??????? ????? ????????? ??? ?? ?????? ??? ?????? ??? ????? ??????? ???????? ???????? ??? ?????? ???? ????????? ??? ????? ??? ???????. ??? ?? ???? ??????? ??????? ????? ?? ??? ???? ????????? ??????? ?????? ??? ???? ????? ??? ???? ????? ?? ????? ?? ???????? ??? ????? ??????? ??? ??? ??? ????????? ?? ???? ??????.

??? ????? ??? ??????? ??? ?? ???? ???? ???? ??????? ?????? ??? ??? ????????? ???????? ????? ?? ????????? ??? ?? ???? ?????? ??????? ???? ???? ????????? ?????? ??? ???? ????? ?????? ?????? ?????.

???? ??? ?? ?????? ? ???? ????? ????? ??????? ?????? ?? ???? ??? ??? ??? ????????? ??? 23 ???? ? ??? ??? ??? ????? ??? ????? ???? ??? ??? ????????? ???????? ?????????? ?????? ?? ??? ????????? ? ????? ??? ????????? ??????? ??? ????? ????? ???????. ??? ????? ??????? ??? ??? ????? ??????? ?? ????? ?????? ???? ?????? ???? ????? ??? ??? ????????? ?? ??? ?????? ??? ??????? ?? ???? ??? ????? ???????. ??????? ??????? ????????? ???? ??? ????????? ?? ???????? ??? ????? ?????? ?? ????? ????????? ?? ????? ??????? ???????? ?????? ???????? ?? ????????? ???? ??????.