{"id":15983,"date":"2024-10-11T14:36:46","date_gmt":"2024-10-11T05:36:46","guid":{"rendered":"https:\/\/official.gfs.tokyo\/blog\/?p=15983"},"modified":"2024-10-24T21:35:56","modified_gmt":"2024-10-24T12:35:56","slug":"presidential-election-and-stock-prices","status":"publish","type":"post","link":"https:\/\/official.gfs.tokyo\/blog\/presidential-election-and-stock-prices","title":{"rendered":"\u5927\u7d71\u9818\u9078\u306f\u682a\u4fa1\u306b\u3069\u3046\u5f71\u97ff\u3059\u308b\uff1f\u30a2\u30ce\u30de\u30ea\u30fc\u3068\u4e89\u70b9\u304b\u3089\u8003\u3048\u308b\u6295\u8cc7\u6226\u7565"},"content":{"rendered":"<p>\u30a2\u30e1\u30ea\u30ab\u30674\u5e74\u306b\u4e00\u5ea6\u300111\u6708\u306b\u884c\u308f\u308c\u308b\u5927\u7d71\u9818\u9078\u6319\u3002<\/p>\n<p>\u5b9f\u8cea\u7684\u306b\u4e16\u754c\u30ca\u30f3\u30d0\u30fc\u30ef\u30f3\u306e\u5927\u56fd\u306e\u30c8\u30c3\u30d7\u3092\u6c7a\u3081\u308b\u30a4\u30d9\u30f3\u30c8\u3060\u3051\u306b\u3001\u6bce\u56de\u591a\u304f\u306e\u6ce8\u76ee\u304c\u96c6\u307e\u308a\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u5927\u7d71\u9818\u9078\u3001\u5171\u548c\u515a\u5019\u88dc\u3068\u6c11\u4e3b\u515a\u5019\u88dc\u306e\u3069\u3061\u3089\u306b\u6c7a\u307e\u308b\u304b\u3067\u653f\u7b56\u304c\u5927\u304d\u304f\u5909\u308f\u3063\u3066\u304f\u308b\u3053\u3068\u304b\u3089\u3001\u305d\u308c\u306b\u304b\u304b\u308f\u308b\u696d\u754c\u3084\u4f01\u696d\u306e\u682a\u4fa1\u306b\u3082\u5927\u304d\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u307e\u3059\u3002<\/p>\n<p>\u7c73\u56fd\u682a\u306f\u3082\u3061\u308d\u3093\u306e\u3053\u3068\u3001\u653f\u6cbb\u7684\u7d4c\u6e08\u7684\u306b\u3064\u306a\u304c\u308a\u304c\u6df1\u3044\u65e5\u672c\u306e\u682a\u4fa1\u3082\u5927\u7d71\u9818\u9078\u3068\u7121\u95a2\u4fc2\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n<p>\u3067\u306f\u3044\u3063\u305f\u3044\u3001\u3069\u3093\u306a\u653f\u7b56\u304c\u3069\u306e\u3088\u3046\u306b\u5f71\u97ff\u3059\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u305d\u308c\u3092\u77e5\u308b\u3053\u3068\u3067\u6295\u8cc7\u5229\u76ca\u3092\u9ad8\u3081\u308b\u306b\u306f\u3069\u3046\u3057\u305f\u3089\u3044\u3044\u306e\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n<p>\u672c\u8a18\u4e8b\u3067\u306fGFS\u76e3\u4fee\u306e\u3082\u3068\u3001\u65e5\u7c73\u682a\u306e\u6295\u8cc7\u3084\u7814\u7a76\u6b74\u306e\u9577\u3044\u500b\u4eba\u6295\u8cc7\u5bb6\u306e\u7b46\u8005\u304c\u3001\u7c73\u5927\u7d71\u9818\u9078\u306e\u6b74\u53f2\u7684\u30a2\u30ce\u30de\u30ea\u30fc\uff08\u7406\u5c48\u3067\u8aac\u660e\u3067\u304d\u306a\u3044\u7d4c\u9a13\u5247\uff09\u3084\u5019\u88dc\u8005\u306e\u4e89\u70b9\u306a\u3069\u304b\u3089\u95a2\u9023\u30bb\u30af\u30bf\u30fc\uff08\u696d\u7a2e\uff09\u306f\u4f55\u306a\u306e\u304b\u3001\u682a\u4fa1\u304c\u3069\u3046\u52d5\u304f\u306e\u304b\u3092\u3072\u3082\u3068\u3044\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n<p>\u5927\u7d71\u9818\u9078\u6319\u306e\u5e74\u3060\u3051\u3067\u306a\u304f\u3001\u305d\u306e\u524d\u5f8c\u306e\u5e74\u306e\u682a\u4fa1\u304c\u3069\u3046\u52d5\u304f\u306e\u304b\u30b5\u30a4\u30af\u30eb\u3092\u77e5\u3063\u3066\u304a\u304f\u3060\u3051\u3067\u3082\u6295\u8cc7\u6210\u7e3e\u306b\u5bc4\u4e0e\u3057\u307e\u3059\u306e\u3067\u3001\u3069\u3046\u304b\u6700\u5f8c\u307e\u3067\u3058\u3063\u304f\u308a\u304a\u8aad\u307f\u304f\u3060\u3055\u3044\u3002<\/p>\n<div class=\"attention a-1\">\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa.jpg\" alt=\"\u76e3\u4fee\u8005\uff1a\u5e02\u5ddd\u96c4\u4e00\u90ce\" width=\"110\" height=\"110\" class=\"wp-image-2102 alignnone\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa.jpg 700w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa-300x300.jpg 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa-150x150.jpg 150w\" sizes=\"(max-width: 110px) 100vw, 110px\" \/>\u3000<strong>\u76e3\u4fee\u8005\uff1a\u5e02\u5ddd\u96c4\u4e00\u90ce\u3000<\/strong><br \/>\n<span style=\"font-size: 10pt;\"><a href=\"https:\/\/official.gfs.tokyo\/\">GFS<\/a>\u6821\u9577\u3002CFP\u00ae\u30021\u7d1a\u30d5\u30a1\u30a4\u30ca\u30f3\u30b7\u30e3\u30eb\u30fb\u30d7\u30e9\u30f3\u30cb\u30f3\u30b0\u6280\u80fd\u58eb(\u8cc7\u7523\u8a2d\u8a08\u63d0\u6848\u696d\u52d9)\u3002<a href=\"https:\/\/www.jafp.or.jp\/\">\u65e5\u672cFP\u5354\u4f1a<\/a>\u4f1a\u54e1\u3002\u65e5\u672cFP\u5b66\u4f1a\u4f1a\u54e1\u3002\u00a0<a href=\"https:\/\/mba.globis.ac.jp\/\">\u30b0\u30ed\u30fc\u30d3\u30b9\u7d4c\u55b6\u5927\u5b66\u9662<\/a>\u4fee\u4e86(MBA\/\u7d4c\u55b6\u5b66\u4fee\u58eb)\u3002<\/span><br \/>\n<span style=\"font-size: 10pt;\">\u65e5\u672c\u306eFP\u306e\u5148\u99c6\u8005\u3068\u3057\u3066\u8cc7\u7523\u904b\u7528\u306e\u5553\u8499\u306b\u5f93\u4e8b\u3002\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u30b0\u30eb\u30fc\u30d7\u304c\u5275\u8a2d\u3057\u305f\u79c1\u7acb<a href=\"https:\/\/www.cyber-u.ac.jp\/teacher\/ichikawa_yuichiro.html\">\u30b5\u30a4\u30d0\u30fc\u5927\u5b66<\/a>\u3067\u6559\u97ad\u3092\u57f7\u308b\u307b\u304b\u3001\u8b1b\u6f14\u4f9d\u983c\u3001\u30e1\u30c7\u30a3\u30a2\u51fa\u6f14\u3082\u591a\u6570\u3002\u8457\u66f8\u306b<a href=\"https:\/\/www.amazon.co.jp\/%E6%8A%95%E8%B3%87%E3%81%A7%E5%88%A9%E7%9B%8A%E3%82%92%E5%87%BA%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B%E4%BA%BA%E3%81%9F%E3%81%A1%E3%81%8C%E5%A4%A7%E4%BA%8B%E3%81%AB%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B-45%E3%81%AE%E6%95%99%E3%81%88-%E5%B8%82%E5%B7%9D-%E9%9B%84%E4%B8%80%E9%83%8E\/dp\/4532358825\">\u300c\u6295\u8cc7\u3067\u5229\u76ca\u3092\u51fa\u3057\u3066\u3044\u308b\u4eba\u305f\u3061\u304c\u5927\u4e8b\u306b\u3057\u3066\u3044\u308b 45\u306e\u6559\u3048\u300d\uff08\u65e5\u672c\u7d4c\u6e08\u65b0\u805e\u51fa\u7248\uff09<\/a><\/span><\/p>\n<p><span style=\"font-size: 10pt;\">\u516c\u5f0fX \u30a2\u30ab\u30a6\u30f3\u30c8\u3000<a href=\"https:\/\/twitter.com\/ichikawa_toushi\">\u5e02\u5ddd\u96c4\u4e00\u90ce@\u304a\u91d1\u306e\u5b66\u6821 \u6821\u9577<\/a><\/span><\/p>\n<\/div>\n<h2>\u7b2c1\u7ae0\u3000\u5927\u7d71\u9818\u9078\u3068\u682a\u4fa1\u306e\u95a2\u4fc2\u6027<\/h2>\n<h3>1-1\u3000\u5927\u7d71\u9818\u9078\u304c\u682a\u4fa1\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u7406\u7531<\/h3>\n<p>\u5927\u7d71\u9818\u9078\u6319\u304c\u682a\u4fa1\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u4e3b\u306a\u7406\u7531\u306f\u3001\u653f\u7b56\u306e\u4e0d\u78ba\u5b9f\u6027\u306b\u3042\u308a\u307e\u3059\u3002\u65b0\u3057\u3044\u5927\u7d71\u9818\u306e\u7d4c\u6e08\u653f\u7b56\u3084\u5916\u4ea4\u65b9\u91dd\u306b\u3088\u3063\u3066\u3001\u4f01\u696d\u306e\u4e8b\u696d\u74b0\u5883\u304c\u5927\u304d\u304f\u5909\u308f\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u304b\u3089\u3067\u3059\u3002<\/p>\n<p>\u4f8b\u3048\u3070\u3001\u6cd5\u4eba\u7a0e\u7387\u306e\u5909\u66f4\u3084\u898f\u5236\u7de9\u548c\u3001\u3042\u308b\u3044\u306f\u898f\u5236\u5f37\u5316\u3001\u8cbf\u6613\u653f\u7b56\u306e\u8ee2\u63db\u306a\u3069\u306f\u3001\u4f01\u696d\u306e\u53ce\u76ca\u6027\u306b\u30c0\u30a4\u30ec\u30af\u30c8\u306b\u306f\u306d\u304b\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>\u307e\u305f\u3001\u5927\u7d71\u9818\u9078\u6319\u671f\u9593\u4e2d\u306f\u5019\u88dc\u8005\u306e\u767a\u8a00\u3084\u4e16\u8ad6\u8abf\u67fb\u306e\u7d50\u679c\u306b\u3088\u3063\u3066\u3001\u6295\u8cc7\u5bb6\u5fc3\u7406\u304c\u30b3\u30ed\u30b3\u30ed\u3068\u5909\u308f\u308a\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u5c06\u6765\u306e\u653f\u7b56\u5909\u66f4\u3092\u4e88\u6e2c\u3057\u305f\u6295\u8cc7\u5bb6\u304c\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u8abf\u6574\u3092\u884c\u3046\u305f\u3081\u3001\u7279\u5b9a\u306e\u30bb\u30af\u30bf\u30fc\u3084\u9298\u67c4\u306e\u682a\u4fa1\u304c\u5927\u304d\u304f\u5909\u52d5\u3057\u307e\u3059\u3002<\/p>\n<p>\u6c11\u4e3b\u515a\u304b\u3089\u5171\u548c\u515a\u3078\u3001\u5171\u548c\u515a\u304b\u3089\u6c11\u4e3b\u515a\u3078\u3068\u653f\u6a29\u4ea4\u4ee3\u306e\u53ef\u80fd\u6027\u304c\u9ad8\u307e\u308b\u3068\u3001\u653f\u7b56\u306e\u5927\u5e45\u306a\u5909\u66f4\u304c\u5acc\u6c17\u3055\u308c\u3001\u4e00\u6642\u7684\u306b\u5e02\u5834\u304c\u4e0d\u5b89\u5b9a\u306b\u306a\u308b\u3053\u3068\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u3053\u308c\u3089\u304c\u682a\u4fa1\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff08\u5909\u52d5\u7387\uff09\u3092\u9ad8\u3081\u308b\u539f\u56e0\u3068\u306a\u308b\u306e\u3067\u3059\u3002<\/p>\n<p>\u4e00\u65b9\u3067\u3001\u9078\u6319\u7d50\u679c\u304c\u78ba\u5b9a\u3059\u308b\u3068\u4e0d\u78ba\u5b9f\u6027\u304c\u89e3\u6d88\u3055\u308c\u3001\u5e02\u5834\u304b\u3089\u9003\u3052\u3066\u3044\u305f\u6295\u8cc7\u30de\u30cd\u30fc\u304c\u623b\u308a\u3001\u682a\u4fa1\u304c\u4e0a\u6607\u3059\u308b\u30b1\u30fc\u30b9\u3082\u591a\u304f\u898b\u3089\u308c\u307e\u3059\u3002<\/p>\n<h3>1-2\u3000\u5927\u7d71\u9818\u9078\u30a2\u30ce\u30de\u30ea\u30fc\u3068\u682a\u4fa1\u306e\u52d5\u5411<\/h3>\n<p>\u5927\u7d71\u9818\u9078\u6319\u306b\u95a2\u9023\u3059\u308b\u682a\u4fa1\u306e\u30a2\u30ce\u30de\u30ea\u30fc\uff08\u7406\u8ad6\u3067\u8aac\u660e\u3067\u304d\u306a\u3044\u5e02\u5834\u306e\u7d4c\u9a13\u5247\uff09\u3068\u3057\u3066\u3001\u3044\u304f\u3064\u304b\u306e\u50be\u5411\u304c\u77e5\u3089\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u307e\u305a\u3001\u9078\u6319\u524d\u5e74\u306b\u682a\u4fa1\u304c\u4e0a\u6607\u3059\u308b\u78ba\u7387\u304c\u9ad8\u3044\u3053\u3068\u3001\u305d\u3057\u3066\u5927\u7d71\u9818\u5c31\u4efb\u306e\u7fcc\u5e74\uff08\u9078\u6319\u306e2\u5e74\u5f8c\u3001\u4e2d\u9593\u9078\u6319\u306e\u5e74\uff09\u306e\u682a\u4fa1\u304c\u4f4e\u3044\u3053\u3068\u3067\u3059\u3002<\/p>\n<p>\u4e0b\u306f1980\u5e74\uff5e2021\u5e74\u306e\u7c73\u56fd\u3092\u4ee3\u8868\u3059\u308bS&amp;P500\u7a2e\u682a\u4fa1\u6307\u6570\u306e\u5e74\u9593\u9a30\u843d\u7387\u3092\u5927\u7d71\u9818\u9078\u30b5\u30a4\u30af\u30eb\u3067\u307e\u3068\u3081\u305f\u3082\u306e\u3067\u3059\uff08<a href=\"https:\/\/money-bu-jpx.com\/news\/article038472\/\" target=\"_blank\" rel=\"noopener\">\u6771\u8a3c\u30de\u30cd\u90e8\u306e\u8a18\u4e8b<\/a>\u3088\u308a\uff09\u3002<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u30a2\u30ce\u30de\u30ea\u30fc.jpg\" alt=\"\" width=\"708\" height=\"385\" class=\"aligncenter size-full wp-image-16144\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u30a2\u30ce\u30de\u30ea\u30fc.jpg 708w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u30a2\u30ce\u30de\u30ea\u30fc-300x163.jpg 300w\" sizes=\"(max-width: 708px) 100vw, 708px\" \/><\/p>\n<p>\u3082\u3046\u3072\u3068\u3064\u3002\u4e0b\u306f\u30c0\u30a6\u5e73\u5747\u3068\u65e5\u7d4c\u5e73\u5747\u306e\u682a\u4fa1\u9a30\u843d\u7387\u3067\u3059\uff08<a href=\"https:\/\/shikiho.toyokeizai.net\/news\/0\/723028\" target=\"_blank\" rel=\"noopener\">\u56db\u5b63\u5831\u30aa\u30f3\u30e9\u30a4\u30f3<\/a>\u306e\u8a18\u4e8b\u3088\u308a\uff09<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u90784\u5e74\u5468\u671f\u306e\u682a\u4fa1-1024x642.jpg\" alt=\"\" width=\"704\" height=\"441\" class=\"aligncenter  wp-image-15987\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u90784\u5e74\u5468\u671f\u306e\u682a\u4fa1-1024x642.jpg 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u90784\u5e74\u5468\u671f\u306e\u682a\u4fa1-300x188.jpg 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u90784\u5e74\u5468\u671f\u306e\u682a\u4fa1-768x482.jpg 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u90784\u5e74\u5468\u671f\u306e\u682a\u4fa1.jpg 1138w\" sizes=\"(max-width: 704px) 100vw, 704px\" \/><\/p>\n<p>2\u3064\u306e\u6570\u5024\u306f\u5fae\u5999\u306b\u7570\u306a\u308a\u307e\u3059\u304c\u3001\u5927\u7d71\u9818\u9078\u306e\u524d\u5e74\u306b\u306f\u682a\u4fa1\u304c\u9ad8\u304f\u306a\u308a\u3001\u5c31\u4efb2\u5e74\u5f8c\u306f\u3042\u307e\u308a\u4e0a\u304c\u3089\u306a\u3044\u3053\u3068\u304c\u5171\u901a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u5927\u7d71\u9818\u9078\u306e\u524d\u5e74\u306b\u9ad8\u304f\u306a\u308b\u306e\u306f\u3001\u73fe\u8077\u5927\u7d71\u9818\u304c\u518d\u9078\u3092\u610f\u8b58\u3057\u3066\u4f55\u3089\u304b\u306e\u666f\u6c17\u523a\u6fc0\u7b56\u3092\u6253\u3061\u51fa\u3059\u3053\u3068\u304c\u4e00\u56e0\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/p>\n<p>\u7c73\u56fd\u5e02\u5834\u306b\u5927\u304d\u304f\u5f71\u97ff\u3055\u308c\u308b\u65e5\u672c\u682a\u3082\u307b\u307c\u540c\u3058\u304b\u5c11\u3057\u9045\u308c\u3066\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u304c\u3088\u304f\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>&nbsp;<\/p>\n<p>\u4e00\u65b9\u3001\u3053\u3046\u3057\u305f\u9078\u6319\u5bfe\u7b56\u306e\u53cd\u52d5\u304b\u3089\u3001\u9078\u6319\u7fcc\u5e74\uff08\u5927\u7d71\u9818\u5c31\u4efb\u5e74\uff09\u304b\u30892\u5e74\u5f8c\uff08\u4e2d\u9593\u9078\u6319\u306e\u5e74\uff09\u306b\u304b\u3051\u3066\u306f\u682a\u4fa1\u306f\u4f4e\u8abf\u306b\u63a8\u79fb\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3053\u308c\u306f\u3001\u9078\u6319\u306e\u305f\u3081\u306b\u306a\u3093\u3068\u304b\u6301\u3061\u3053\u305f\u3048\u305f\u653f\u7b56\u3092\u5f8c\u9000\u3055\u305b\u305f\u308a\u3001\u9078\u6319\u3092\u898b\u636e\u3048\u3066\u4e0d\u4eba\u6c17\u306a\u653f\u7b56\u3092\u3053\u306e\u3042\u305f\u308a\u3067\u7740\u624b\u3057\u306a\u304f\u3066\u306f\u306a\u3089\u306a\u3044\u304b\u3089\u306e\u3088\u3046\u3067\u3059\u3002<\/p>\n<p>\u6b74\u53f2\u7684\u306b\u898b\u308b\u3068\u3001\u6226\u4e89\u306b\u4ecb\u5165\u30fb\u7a81\u5165\u3057\u305f\u308a\u3001\u5927\u66b4\u843d\u304c\u8d77\u3053\u3063\u305f\u308a\u3001\u5f31\u6c17\u76f8\u5834\u304c\u59cb\u307e\u3063\u3066\u53ce\u675f\u3059\u308b\u306e\u3082\u5927\u7d71\u9818\u9078\u7fcc\u5e74\u304b\u3089\u4e2d\u9593\u9078\u6319\u306e\u5e74\u307e\u3067\u306e2\u5e74\u9593\u306b\u8d77\u3053\u308b\u3053\u3068\u304c\u591a\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u5927\u7d71\u9818\u9078\u7fcc\u5e74\u306e\u51fa\u6765\u4e8b\u3067\u306f\u30011929\u5e74\u306e\u682a\u4fa1\u5927\u66b4\u843d\u30011941\u5e74\u7b2c\u4e8c\u6b21\u5927\u6226\u53c2\u6226\u30011965\u5e74\u30d9\u30c8\u30ca\u30e0\u6226\u4e89\u62e1\u5927\uff08\u7fcc\u5e74\u306b\u9577\u671f\u5f31\u6c17\u76f8\u5834\uff09\u30011969\u5e74\u30fb1973\u5e74\u30fb1981\u5e74\u306e\u5f31\u6c17\u76f8\u5834\u30012001\u5e74\u306e\u540c\u6642\u591a\u767a\u30c6\u30ed\u3067\u6df1\u523b\u306a\u4e0b\u843d\u306a\u3069\u306a\u3069\u304c\u77e5\u3089\u308c\u3066\u3044\u307e\u3059\uff08<a href=\"https:\/\/amzn.to\/3BCRHWn\" target=\"_blank\" rel=\"noopener\" class=\"broken_link\">\u30b8\u30a7\u30d5\u30ea\u30fc\u30fbA\u30fb\u30cf\u30fc\u30b7\u30e5\u8457\u300e\u30a2\u30ce\u30de\u30ea\u30fc\u6295\u8cc7\u300f<\/a>\u53c2\u7167\uff09\u3002\u3051\u3063\u3053\u3046\u6016\u3044\u3067\u3059\u306d\u3002<\/p>\n<p>&nbsp;<\/p>\n<p>\u53c2\u8003\u307e\u3067\u306b\u524d\u56de2020\u5e74\u306e\u5927\u7d71\u9818\u9078\u304b\u3089\u4eca\u56de2024\u5e74\u307e\u3067\u306e\u682a\u4fa1\u306e\u5024\u52d5\u304d\u3092\u898b\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002\u9752\u304c\u7c73\u56fd\u306eS&amp;P500\u7a2e\u6307\u6570\u3001\u8d64\u304c\u65e5\u7d4c\u5e73\u5747\u3067\u3059\uff08\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u30d3\u30e5\u30fc\u3067\u7b46\u8005\u4f5c\u6210\uff09\u3002<\/p>\n<div class=\"attention a-1\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/2020-2024-1024x566.png\" alt=\"\" width=\"868\" height=\"480\" class=\"aligncenter size-large wp-image-15989\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/2020-2024-1024x566.png 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/2020-2024-300x166.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/2020-2024-768x424.png 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/2020-2024-1536x849.png 1536w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/2020-2024.png 1569w\" sizes=\"(max-width: 868px) 100vw, 868px\" \/><\/div>\n<p>\u78ba\u304b\u306b\u30a2\u30ce\u30de\u30ea\u30fc\u901a\u308a\u3001\u5927\u7d71\u9818\u9078\u6319\u306e2\u5e74\u524d\uff082022\u5e74\u3001\u4e2d\u9593\u9078\u6319\u5e74\uff09\u306b\u682a\u4fa1\u304c\u4e0b\u304c\u308a\u3001\u9078\u6319\u524d\u5e74\uff082023\u5e74\uff09\u306b\u4e0a\u304c\u308a\u59cb\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>2020\u5e74\uff5e2021\u5e74\u306f\u30b3\u30ed\u30ca\u30b7\u30e7\u30c3\u30af\u3068\u305d\u306e\u5f8c\u306eV\u5b57\u56de\u5fa9\u304c\u3042\u308a\u30012022\u5e74\u306f\u305d\u306e\u30b3\u30ed\u30ca\u5bfe\u7b56\uff08\u91d1\u878d\u7de9\u548c\u3084\u652f\u63f4\u7b56\uff09\u306b\u3088\u308b\u91d1\u4f59\u308a\u304b\u3089\u751f\u3058\u305f\u4e16\u754c\u7684\u30a4\u30f3\u30d5\u30ec\u9000\u6cbb\u306e\u305f\u3081\u306e\u5229\u4e0a\u3052\u304c\u672c\u683c\u5316\u3057\u3066\u682a\u4fa1\u304c\u4e0b\u843d\u3057\u307e\u3057\u305f\u3002<\/p>\n<p>\u305d\u3046\u8003\u3048\u308b\u3068\u3001\u3042\u307e\u308a\u5927\u7d71\u9818\u9078\u3068\u95a2\u4fc2\u306a\u3044\u3088\u3046\u306b\u3082\u601d\u3048\u307e\u3059\u3002<\/p>\n<p>\u3067\u3082\u3001\u91d1\u878d\u653f\u7b56\u3092\u884c\u3046FRB\uff08\u7c73\u9023\u90a6\u6e96\u5099\u7406\u4e8b\u4f1a\uff09\u3082\u6642\u306e\u653f\u6a29\u3068\u307e\u3063\u305f\u304f\u7121\u95a2\u4fc2\u3068\u306f\u8a00\u3048\u307e\u305b\u3093\u3002\u5927\u7d71\u9818\u9078\u6319\u306e\u30b5\u30a4\u30af\u30eb\u306b\u5408\u308f\u305b\u3066\u91d1\u5229\u3092\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3057\u3066\u3044\u308b\u5074\u9762\u3082\u3082\u3057\u304b\u3057\u305f\u3089\u3042\u308b\u306e\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002<\/p>\n<p>&nbsp;<\/p>\n<p>\u3082\u3046\u5c11\u3057\u77ed\u671f\u7684\u306a\u30a2\u30ce\u30de\u30ea\u30fc\u3082\u898b\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n<p>\u307e\u305a\u3001\u5927\u7d71\u9818\u9078\u306e\u6295\u7968\u65e5\u307e\u3067\u306e\u30e9\u30b9\u30c8\u6570\u304b\u6708\u306f\u682a\u4fa1\u306f\u4e0a\u304c\u308b\u3053\u3068\u304c\u591a\u304f\u3001\u30de\u30a4\u30ca\u30b9\u306b\u306a\u308b\u3053\u3068\u306f\u5c11\u306a\u3044\u3088\u3046\u3067\u3059\uff081984\u5e74\u30012000\u5e74\u30012008\u5e74\u3092\u9664\u304f\uff09\u3002<\/p>\n<p>\u5b9f\u969b\u306b2024\u5e74\u306f\u5927\u7d71\u9818\u9078\u6319\u304c\u8fd1\u3065\u304f\u306b\u3064\u308c\u3001\u30c0\u30a6\u5e73\u5747\u3084S&amp;P500\u304c\u53f2\u4e0a\u9ad8\u5024\u3092\u66f4\u65b0\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001\u6295\u958b\u7968\u304c\u884c\u308f\u308c\u308b11\u6708\u306e\u76f4\u524d\u300110\u6708\u306b\u306f\u9078\u6319\u7d50\u679c\u306b\u5927\u304d\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u91cd\u5927\u306a\u30cb\u30e5\u30fc\u30b9\u3084\u51fa\u6765\u4e8b\u304c\u8d77\u3053\u308b\u3053\u3068\u304c\u591a\u304f\u3001\u3053\u308c\u3082\u682a\u4fa1\u3092\u5927\u304d\u304f\u52d5\u304b\u3059\u8981\u56e0\u3068\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u3092\u300c\u30aa\u30af\u30c8\u30fc\u30d0\u30fc\u30b5\u30d7\u30e9\u30a4\u30ba\u300d\u3068\u547c\u3073\u307e\u3059\u3002<\/p>\n<p>\u4e0b\u306f\u4e3b\u306a\u30aa\u30af\u30c8\u30fc\u30d0\u30fc\u30b5\u30d7\u30e9\u30a4\u30ba\u306e\u51fa\u6765\u4e8b\u3067\u3059\uff08<a href=\"https:\/\/www.nikkei.com\/article\/DGXZQOGN02EFN0S4A001C2000000\/\" target=\"_blank\" rel=\"noopener\">\u65e5\u7d4c\u96fb\u5b50\u7248\u8a18\u4e8b<\/a>\u3088\u308a\uff09\u3002<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u30aa\u30af\u30c8\u30fc\u30d0\u30fc\u30b5\u30d7\u30e9\u30a4\u30ba.jpg\" alt=\"\" width=\"566\" height=\"744\" class=\"aligncenter size-full wp-image-16143\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u30aa\u30af\u30c8\u30fc\u30d0\u30fc\u30b5\u30d7\u30e9\u30a4\u30ba.jpg 566w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u30aa\u30af\u30c8\u30fc\u30d0\u30fc\u30b5\u30d7\u30e9\u30a4\u30ba-228x300.jpg 228w\" sizes=\"(max-width: 566px) 100vw, 566px\" \/><\/p>\n<p>\u524d\u56de2020\u5e74\u9078\u6319\u3067\u306f\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u30b3\u30ed\u30ca\u306b\u611f\u67d3\u3057\u307e\u3057\u305f\u304c\u3001\u4eca\u5e742024\u5e74\u306f\u3059\u3067\u306b10\u6708\u306b\u5165\u308b\u524d\u304b\u3089\u30b5\u30d7\u30e9\u30a4\u30ba\u3060\u3089\u3051\u3067\u3057\u305f\u306d\u3002<\/p>\n<p>\u30d0\u30a4\u30c7\u30f3\u6c0f\u306e\u5019\u88dc\u96e2\u8131\u3068\u30cf\u30ea\u30b9\u6c0f\u3078\u306e\u5019\u88dc\u5909\u66f4\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u306e2\u5ea6\u306e\u9283\u6483\u6697\u6bba\u672a\u9042\u306a\u3069\u306a\u3069\u3002\u3055\u3089\u306b\u30aa\u30af\u30c8\u30fc\u30d0\u30fc\u30b5\u30d7\u30e9\u30a4\u30ba\u304c\u3042\u308b\u304b\u3069\u3046\u304b\u6ce8\u76ee\u3067\u3059\u3002<\/p>\n<p>&nbsp;<\/p>\n<p>\u307e\u305f\u3001\u5148\u8ff0\u3057\u305f\u3068\u304a\u308a\u3001\u9078\u6319\u304c\u7d42\u308f\u308b\u3053\u3068\u3067\u4e0d\u900f\u660e\u611f\u304c\u306a\u304f\u306a\u308a\u3001\u9078\u6319\u306e\u7d42\u308f\u308b11\u6708\u4ee5\u964d\u306b\u682a\u4fa1\u304c\u4e0a\u5411\u304d\u3001\u5e74\u672b\u9ad8\u306b\u306a\u308b\u50be\u5411\u304c\u3042\u308b\u3088\u3046\u3067\u3059\u3002<\/p>\n<p>\u3046\u307e\u304f\u3053\u306e\u682a\u4fa1\u306e\u30a2\u30ce\u30de\u30ea\u30fc\u306b\u4e57\u308c\u308b\u304b\u3069\u3046\u304b\u3001\u5b9f\u969b\u306b\u904e\u53bb\u306e\u901a\u308a\u306b\u306a\u308b\u304b\u3069\u3046\u304b\u306f\u3060\u308c\u306b\u3082\u308f\u304b\u308a\u307e\u305b\u3093\u3002<\/p>\n<h3>1-3\u30002024\u5e74\u5927\u7d71\u9818\u9078\u7279\u6709\u306e\u30ea\u30b9\u30af\u3068\u30c1\u30e3\u30f3\u30b9<\/h3>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u7c73\u5927\u7d71\u9818\u90782024-1024x685.jpg\" alt=\"\" width=\"868\" height=\"581\" class=\"aligncenter size-large wp-image-16004\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u7c73\u5927\u7d71\u9818\u90782024-1024x685.jpg 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u7c73\u5927\u7d71\u9818\u90782024-300x201.jpg 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u7c73\u5927\u7d71\u9818\u90782024-768x514.jpg 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u7c73\u5927\u7d71\u9818\u90782024.jpg 1100w\" sizes=\"(max-width: 868px) 100vw, 868px\" 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decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u7d4c\u6e08\uff09-1024x563.jpg\" alt=\"\" width=\"868\" height=\"477\" class=\"aligncenter size-large wp-image-15998\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u7d4c\u6e08\uff09-1024x563.jpg 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u7d4c\u6e08\uff09-300x165.jpg 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u7d4c\u6e08\uff09-768x422.jpg 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u7d4c\u6e08\uff09.jpg 1243w\" sizes=\"(max-width: 868px) 100vw, 868px\" \/><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u5916\u4ea4\uff09-1024x544.jpg\" alt=\"\" width=\"868\" height=\"461\" class=\"aligncenter size-large wp-image-15999\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u5916\u4ea4\uff09-1024x544.jpg 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u5916\u4ea4\uff09-300x159.jpg 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u5916\u4ea4\uff09-768x408.jpg 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u5916\u4ea4\uff09.jpg 1239w\" sizes=\"(max-width: 868px) 100vw, 868px\" \/><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u305d\u306e\u4ed6\uff09-1024x572.jpg\" alt=\"\" width=\"868\" height=\"485\" class=\"aligncenter size-large wp-image-16000\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u305d\u306e\u4ed6\uff09-1024x572.jpg 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u305d\u306e\u4ed6\uff09-300x168.jpg 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u305d\u306e\u4ed6\uff09-768x429.jpg 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5927\u7d71\u9818\u9078\u306e\u4e89\u70b9\uff08\u305d\u306e\u4ed6\uff09.jpg 1240w\" sizes=\"(max-width: 868px) 100vw, 868px\" \/><\/p>\n<p style=\"text-align: center;\">\uff08GFS\u7279\u5225\u8b1b\u7fa9\uff1a<strong>\u308a\u308d\u3093\u304b\u3076\u304a\u306e\u7c73\u56fd\u30de\u30fc\u30b1\u30c3\u30c8\u5206\u6790\u300c<a href=\"https:\/\/gfs.tokyo\/video\/4005\" target=\"_blank\" rel=\"noopener\">2024\u5e74 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decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5404\u5019\u88dc\u52dd\u5229\u306e\u5f71\u97ff-1024x541.jpg\" alt=\"\" width=\"868\" height=\"459\" class=\"aligncenter size-large wp-image-16002\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5404\u5019\u88dc\u52dd\u5229\u306e\u5f71\u97ff-1024x541.jpg 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5404\u5019\u88dc\u52dd\u5229\u306e\u5f71\u97ff-300x159.jpg 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5404\u5019\u88dc\u52dd\u5229\u306e\u5f71\u97ff-768x406.jpg 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2024\/10\/\u5404\u5019\u88dc\u52dd\u5229\u306e\u5f71\u97ff.jpg 1239w\" sizes=\"(max-width: 868px) 100vw, 868px\" 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class=\"xcd-attention-3 xcd-col4 xcd-ripple\">\n<div class=\"xcd-title\">\u30c9\u30c3\u30c9\u30fb\u30d5\u30e9\u30f3\u30af\u6cd5\u3068\u306f<\/div>\n<div class=\"xcd-content\"><span>\u30c9\u30c3\u30c9\uff1d\u30d5\u30e9\u30f3\u30af\u30fb\u30a6\u30a9\u30fc\u30eb\u8857\u6539\u9769\u30fb\u6d88\u8cbb\u8005\u4fdd\u8b77\u6cd5\u306e\u3053\u3068<\/span>\uff08Dodd-Frank Wall Street Reform and Consumer Protection 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class=\"xcd-attention-2 xcd-ripple xcd-col3\">\n<div class=\"xcd-title\">\u30de\u30b9\u30af\u6c0f\u306e\u30c8\u30e9\u30f3\u30d7\u652f\u6301\u306e\u306a\u305c<\/div>\n<div class=\"xcd-content\">\u30c6\u30b9\u30e9\u3068\u3044\u3048\u3070\u3001CEO\u306e\u30a4\u30fc\u30ed\u30f3\u30fb\u30de\u30b9\u30af\u6c0f\u304c\u5171\u548c\u515a\u306e\u30c8\u30e9\u30f3\u30d7\u6c0f\u652f\u6301\u306b\u56de\u3063\u3066\u3044\u307e\u3059\u3002\u904e\u53bb\u306b\u30d1\u30ea\u5354\u5b9a\u304b\u3089\u306e\u96e2\u8131\u3092\u53cd\u5bfe\u3057\u305f\u3053\u3068\u3082\u3042\u308b\u30de\u30b9\u30af\u6c0f\u3002\u672c\u6765\u306a\u3089\u30af\u30ea\u30fc\u30f3\u30a8\u30cd\u30eb\u30ae\u30fc\u63a8\u9032\u306e\u6c11\u4e3b\u515a\u3092\u5fdc\u63f4\u3059\u308b\u306e\u304c\u7b4b\u3068\u3044\u3046\u6c17\u304c\u3057\u307e\u3059\u304c\u3001\u306a\u305c\u306a\u3093\u3067\u3057\u3087\u3046\u304b\u3002\u5b9f\u969b\u30de\u30b9\u30af\u6c0f\u306f2016\u5e74\u306e\u9078\u6319\u3067\u306f\u30d2\u30e9\u30ea\u30fc\u30fb\u30af\u30ea\u30f3\u30c8\u30f3\u6c0f\u3092\u652f\u6301\u30022020\u5e74\u3082\u30d0\u30a4\u30c7\u30f3\u6c0f\u652f\u6301\u3060\u3063\u305f\u3068\u3055\u308c\u307e\u3059\u3002\u6c11\u4e3b\u515a\u653f\u6a29\u4e0b\u3067\u7518\u3044\u6c41\u3082\u5438\u3063\u3066\u304d\u307e\u3057\u305f\u3002\u305f\u3060\u3001\u30de\u30b9\u30af\u6c0f\u306f\u5de8\u984d\u306e\u8cc7\u91d1\u3092\u6295\u3058\u3066\u65e7Twitter\u3092\u8cb7\u53ce\u3057\u3001\u9589\u9396\u3057\u3066\u3044\u305f\u30c8\u30e9\u30f3\u30d7\u6c0f\u306e\u30a2\u30ab\u30a6\u30f3\u30c8\u3092\u5fa9\u6d3b\u3055\u305b\u305f\u7d4c\u7def\u304c\u3042\u308a\u307e\u3059\u3002\u3044\u307e\u3084Twitter\u304b\u3089\u751f\u307e\u308c\u5909\u308f\u3063\u305f\u300cX\u300d\u306f\u5171\u548c\u515a\u306e\u5e83\u544a\u3067\u6f64\u3063\u3066\u3044\u308b\u3068\u3082\u8a00\u308f\u308c\u307e\u3059\u3002\u307e\u305f\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u516c\u7d04\u3068\u3057\u3066\u63b2\u3052\u308b\u4e2d\u56fd\u3078\u306e\u9ad8\u3044\u95a2\u7a0e\u306f\u3001\u30c6\u30b9\u30e9\u306e\u96fb\u6c17\u81ea\u52d5\u8eca\u306e\u8ca9\u58f2\u306b\u5927\u3044\u306b\u30d7\u30e9\u30b9\u3068\u306a\u308b\u3068\u3044\u3046\u3046\u304c\u3063\u305f\u898b\u65b9\u3082\u3042\u308a\u307e\u3059\u3002\u30de\u30b9\u30af\u6c0f\u3082\u30c8\u30e9\u30f3\u30d7\u6c0f\u3082\u3068\u3082\u306b\u5927\u304d\u306a\u6210\u529f\u3092\u53ce\u3081\u305f\u30d3\u30b8\u30cd\u30b9\u30de\u30f3\u3060\u3051\u306b\u3001\u304a\u4e92\u3044\u306b\u5171\u95d8\u3059\u308b\u30e1\u30ea\u30c3\u30c8\u3092\u898b\u51fa\u3057\u305f\u306e\u3060\u308d\u3046\u3053\u3068\u306f\u60f3\u50cf\u306b\u96e3\u304f\u3042\u308a\u307e\u305b\u3093\u3002<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h2>\u7b2c3\u7ae0\u3000\u5927\u7d71\u9818\u9078\u306b\u5099\u3048\u308b\u6295\u8cc7\u6226\u7565<\/h2>\n<h3>3-1\u3000\u653f\u7b56\u5909\u66f4\u30ea\u30b9\u30af\u3078\u306e\u5bfe\u5fdc\u3068\u5206\u6563\u6295\u8cc7\u306e\u91cd\u8981\u6027<\/h3>\n<p>\u5927\u7d71\u9818\u9078\u306b\u4f34\u3046\u653f\u7b56\u5909\u66f4\u30ea\u30b9\u30af\u306b\u5099\u3048\u308b\u305f\u3081\u306b\u306f\u3001\u5206\u6563\u6295\u8cc7\u304c\u3068\u3066\u3082\u91cd\u8981\u3067\u3059\u3002<\/p>\n<p>\u7279\u5b9a\u306e\u30bb\u30af\u30bf\u30fc\u3084\u4f01\u696d\u306b\u96c6\u4e2d\u6295\u8cc7\u3059\u308b\u3068\u3001\u9078\u6319\u7d50\u679c\u306b\u3088\u3063\u3066\u5927\u304d\u306a\u640d\u5931\u3092\u88ab\u308b\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u7279\u306b\u524d\u7ae0\u3067\u53d6\u308a\u4e0a\u3052\u305f\u9632\u885b\u3001\u91d1\u878d\u3001\u30d8\u30eb\u30b9\u30b1\u30a2\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u306a\u3069\u3001\u9078\u6319\u7d50\u679c\u306b\u3088\u3063\u3066\u5f71\u97ff\u304c\u51fa\u308b\u30bb\u30af\u30bf\u30fc\u3084\u5f53\u8a72\u9298\u67c4\u306b\u306f\u6295\u8cc7\u306b\u614e\u91cd\u306b\u306a\u308b\u3079\u304d\u3067\u3059\u3002<\/p>\n<p>\u9577\u671f\u3067\u4fdd\u6709\u3059\u308b\u5834\u5408\u306f\u3068\u3082\u304b\u304f\u3001\u77ed\u671f\u3067\u306e\u58f2\u8cb7\u3092\u691c\u8a0e\u3057\u3066\u3044\u308b\u3088\u3046\u306a\u5834\u5408\u3001\u65b0\u898f\u8cfc\u5165\u306f\u306a\u308b\u3079\u304f\u5927\u7d71\u9818\u9078\u5f8c\u306b\u3059\u308b\u3088\u3046\u306b\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n<p>\u305f\u3068\u3048\u3070\u3042\u306a\u305f\u304c\u3001\u30cf\u30ea\u30b9\u6c0f\u304c\u52dd\u3064\u304b\u3089\u4eca\u306e\u3046\u3061\u306b\u592a\u967d\u5149\u95a2\u9023\u3084\u96fb\u6c17\u81ea\u52d5\u8eca\u95a2\u9023\u3092\u4ed5\u8fbc\u3093\u3067\u304a\u3053\u3046\u3068\u8cfc\u5165\u3057\u3066\u3082\u3001\u3082\u3057\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u52dd\u5229\u3057\u305f\u5834\u5408\u3001\u5927\u304d\u306a\u4e0b\u843d\u3067\u8cc7\u7523\u3092\u6e1b\u3089\u3059\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u30e1\u30c7\u30a3\u30a2\u306b\u3088\u308b\u5168\u7c73\u4e16\u8ad6\u8abf\u67fb\u3067\u3069\u3061\u3089\u304b\u4e00\u65b9\u306e\u512a\u52e2\u304c\u4f1d\u3048\u3089\u308c\u305f\u3068\u3057\u3066\u3082\u3001\u6295\u7968\u306e\u7d50\u679c\u306f\u3075\u305f\u3092\u3042\u3051\u308b\u307e\u3067\u308f\u304b\u308a\u307e\u305b\u3093\u3002\u5927\u7d71\u9818\u9078\u306f\u5dde\u5358\u4f4d\u306e\u9078\u6319\u4eba\u4e89\u596a\u6226\u3067\u3042\u308a\u3001\u3054\u304f\u308f\u305a\u304b\u306a\u5dde\u306e\u52dd\u6557\u304c\u7d50\u679c\u3092\u5927\u304d\u304f\u5de6\u53f3\u3059\u308b\u306e\u3067\u3059\u3002<\/p>\n<p>\u304a\u5fd8\u308c\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u304c\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u52dd\u5229\u3057\u305f2016\u5e74\u306e\u5927\u7d71\u9818\u9078\u3067\u306f\u3001\u76f4\u524d\u307e\u3067\u30d2\u30e9\u30ea\u30fc\u30fb\u30af\u30ea\u30f3\u30c8\u30f3\u6c0f\u306e\u512a\u52e2\u304c\u4f1d\u3048\u3089\u308c\u3066\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u3069\u3061\u3089\u304b\u306e\u5f53\u9078\u306b\u5c71\u3092\u5f35\u3063\u3066\u6295\u8cc7\u3092\u3059\u308b\u306b\u3057\u3066\u3082\u30ae\u30e3\u30f3\u30d6\u30eb\u306b\u7b49\u3057\u304f\u3001\u8cc7\u7523\u3092\u5b88\u308b\u305f\u3081\u306b\u3082\u653f\u7b56\u304c\u3089\u307f\u306e\u4f01\u696d\u3078\u306e\u6295\u8cc7\u306f\u614e\u91cd\u306b\u306a\u308b\u3079\u304d\u3067\u3057\u3087\u3046\u3002<\/p>\n<h3>3-2\u3000\u77ed\u671f\u7684\u306a\u5e02\u5834\u5909\u52d5\u306b\u5099\u3048\u308b\u30d8\u30c3\u30b8\u6226\u7565<\/h3>\n<p>\u5927\u7d71\u9818\u9078\u6319\u671f\u9593\u4e2d\u306f\u3001\u5e02\u5834\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff08\u682a\u4fa1\u5909\u52d5\u7387\uff09\u304c\u9ad8\u307e\u308a\u3001\u5927\u304d\u304f\u4e0b\u843d\u3059\u308b\u3053\u3068\u3082\u3042\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002<\/p>\n<p>\u3053\u306e\u77ed\u671f\u7684\u306a\u5e02\u5834\u5909\u52d5\u306b\u5099\u3048\u308b\u306b\u306f\u3001\u5148\u7269\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u3067\u30d8\u30c3\u30b8\u3059\u308b\u65b9\u6cd5\u304c\u3042\u308a\u307e\u3059\u3002\u4f8b\u3048\u3070\u3001\u4fdd\u6709\u682a\u5f0f\u306b\u5bfe\u3057\u3066\u30d7\u30c3\u30c8\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u8cfc\u5165\u3059\u308b\u3053\u3068\u3067\u3001\u682a\u4fa1\u4e0b\u843d\u30ea\u30b9\u30af\u3092\u30d8\u30c3\u30b8\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u304b\u306a\u308a\u8907\u96d1\u3067\u9ad8\u5ea6\u306a\u4ed5\u7d44\u307f\u3092\u7406\u89e3\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u3001\u6295\u6a5f\u6027\u3082\u5f37\u3044\u3053\u3068\u304b\u3089\u3001\u500b\u4eba\u6295\u8cc7\u5bb6\u306b\u306f\u3042\u307e\u308a\u304a\u3059\u3059\u3081\u3067\u304d\u307e\u305b\u3093\u3002<\/p>\n<p>\u73fe\u7269\u4fdd\u6709\u3057\u3066\u3044\u308b\u682a\u3092\u7a7a\u58f2\u308a\u3057\u3066\u4e0b\u843d\u306b\u5099\u3048\u308b\u3068\u3044\u3046\u65b9\u6cd5\u3082\u3042\u308a\u307e\u3059\u304c\u3001\u3082\u3057\u653f\u7b56\u306b\u304b\u304b\u308f\u308b\u3088\u3046\u306a\u9298\u67c4\u306e\u5834\u5408\u3001\u9006\u306b\u6025\u9a30\u3057\u3066\u5927\u304d\u306a\u640d\u5931\u3092\u62b1\u3048\u308b\u3053\u3068\u306b\u3082\u306a\u308a\u304b\u306d\u307e\u305b\u3093\u3002<\/p>\n<p>\u3082\u3046\u3072\u3068\u3064\u7c21\u5358\u306a\u65b9\u6cd5\u3068\u3057\u3066\u3001\u30a4\u30f3\u30d0\u30fc\u30b9\u578bETF\u306e\u6d3b\u7528\u304c\u3042\u308a\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u5e02\u5834\u306e\u52d5\u304d\u3068\u9006\u306e\u5024\u52d5\u304d\u3092\u3059\u308bETF\u3067\u3001\u682a\u4fa1\u4e0b\u843d\u6642\u306b\u5229\u76ca\u3092\u5f97\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<p>\u6709\u540d\u306a\u3068\u3053\u308d\u3092\u6319\u3052\u3066\u304a\u304d\u307e\u3059\u3002<\/p>\n<table style=\"border-collapse: collapse; width: 100%; height: 132px;\">\n<tbody>\n<tr style=\"height: 22px;\">\n<td style=\"width: 33.3333%; height: 22px;\">ETF\u540d<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">\u30c6\u30a3\u30c3\u30ab\u30fc\u30b7\u30f3\u30dc\u30eb\uff0f\u8a3c\u5238\u30b3\u30fc\u30c9<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">\u5185\u5bb9<\/td>\n<\/tr>\n<tr style=\"height: 22px;\">\n<td style=\"width: 33.3333%; height: 22px;\">ProShares Short S&amp;P500<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">SH<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">\u7c73\u56fdS&amp;P500\u306e\u52d5\u304d\u306b\u9006\u884c\u3059\u308b\u30a4\u30f3\u30d0\u30fc\u30b9ETF<\/td>\n<\/tr>\n<tr style=\"height: 22px;\">\n<td style=\"width: 33.3333%; height: 22px;\">Direxion Daily S&amp;P 500 Bear 3X Shares<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">SPXS<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">S&amp;P500\u306e\u5024\u5e45\u306e3\u500d\u9006\u306b\u52d5\u304f\u30a4\u30f3\u30d0\u30fc\u30b9ETF<\/td>\n<\/tr>\n<tr style=\"height: 22px;\">\n<td style=\"width: 33.3333%; height: 22px;\">ProShares UltraPro Short QQQ<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">SQQQ<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">\u30ca\u30b9\u30c0\u30c3\u30af100\uff08QQQ\uff09\u306e\u5024\u5e45\u306e3\u500d\u9006\u306b\u52d5\u304f\u30a4\u30f3\u30d0\u30fc\u30b9ETF<\/td>\n<\/tr>\n<tr style=\"height: 22px;\">\n<td style=\"width: 33.3333%; height: 22px;\">Direxion Daily Semiconductor Bear 3x Shares<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">SOXS<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">\u534a\u5c0e\u4f53\u6307\u6570\uff08SOXX\uff09\u306e\u5024\u5e45\u306e3\u500d\u9006\u306b\u52d5\u304f\u30a4\u30f3\u30d0\u30fc\u30b9ETF<\/td>\n<\/tr>\n<tr style=\"height: 22px;\">\n<td style=\"width: 33.3333%; height: 22px;\">NF\u65e5\u7d4c\u30c0\u30d6\u30eb\u30a4\u30f3\u30d0\u30fc\u30b9<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">\u8a3c\u5238\u30b3\u30fc\u30c9\uff1a1357<\/td>\n<td style=\"width: 33.3333%; height: 22px;\">\u65e5\u7d4c\u5e73\u5747\u306e\u5024\u52d5\u304d\u306e2\u500d\u9006\u306b\u52d5\u304f\u30a4\u30f3\u30d0\u30fc\u30b9ETF<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u91d1\u878d\u8cc7\u7523\u306e\u307b\u3068\u3093\u3069\u304c\u682a\u5f0f\u3070\u304b\u308a\u306e\u5834\u5408\u3001\u6025\u843d\u306b\u5099\u3048\u3066\u3053\u3046\u3057\u305f\u30a4\u30f3\u30d0\u30fc\u30b9\u578b\u306eETF\u3092\u5c11\u3057\u8cb7\u3063\u3066\u304a\u304f\u306e\u306f\u3042\u308a\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002<\/p>\n<p>\u305f\u3060\u3057\u3053\u308c\u3089\u3082\u57fa\u672c\u7684\u306b\u306f\u30b7\u30e7\u30fc\u30c8\uff08\u7a7a\u58f2\u308a\uff09\u3068\u540c\u3058\u3067\u3001\u7279\u306b2\u500d\u30823\u500d\u3082\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u304b\u304b\u308bETF\u306a\u3069\u306f\u5927\u304d\u306a\u640d\u5931\u306b\u3064\u306a\u304c\u308b\u30ea\u30b9\u30af\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>&nbsp;<\/p>\n<p>\u7b46\u8005\u304c\u3082\u3063\u3068\u3082\u304a\u3059\u3059\u3081\u3059\u308b\u306e\u306f\u3001\u73fe\u91d1\u6bd4\u7387\u3092\u9ad8\u3081\u3066\u304a\u304f\u3053\u3068\u3002<\/p>\n<p>\u305f\u3068\u3048\u3070\u73fe\u5728\u542b\u307f\u640d\u306b\u306a\u3063\u3066\u3044\u308b\u9298\u67c4\u3084\u308f\u305a\u304b\u306a\u542b\u307f\u76ca\u3057\u304b\u51fa\u3066\u3044\u306a\u3044\u9298\u67c4\u3092\u58f2\u5374\u3057\u3001\u73fe\u91d1\u3068\u3057\u3066\u7528\u610f\u3057\u3066\u304a\u304f\u306e\u3067\u3059\u3002<\/p>\n<p>\u3042\u308b\u3044\u306f\u3001\u73fe\u91d1\u306e\u4ee3\u308f\u308a\u306b\u3001\u682a\u5f0f\u3068\u306f\u7570\u306a\u308b\u5024\u52d5\u304d\u3092\u3059\u308b\u6bd4\u8f03\u7684\u5b89\u5168\u306a\u8cc7\u7523\uff08\u50b5\u5238\u3084\u91d1\u306a\u3069\uff09\u306b\u6295\u8cc7\u3057\u3066\u304a\u304f\u3068\u3044\u3046\u624b\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u5834\u5408\u3001\u73fe\u7269\u3092\u8cb7\u308f\u306a\u304f\u3066\u3082\u682a\u5f0f\u5e02\u5834\u3067\u8cb7\u3048\u308b\u4fbf\u5229\u306aETF\u304c\u3042\u308a\u307e\u3059\u306e\u3067\u3001\u305d\u308c\u3092\u6d3b\u7528\u3057\u3066\u304a\u304f\u3068\u3001\u6a5f\u52d5\u7684\u306b\u73fe\u91d1\u306b\u63db\u3048\u3089\u308c\u307e\u3059\u3002<\/p>\n<p>\u73fe\u91d1\u3084\u63db\u91d1\u6027\u306e\u9ad8\u3044\u5b89\u5168\u8cc7\u7523\u3092\u5897\u3084\u3057\u3066\u304a\u304f\u3053\u3068\u3067\u3001\u3044\u3056\u66b4\u843d\u3084\u6025\u843d\u304c\u8d77\u304d\u305f\u3068\u304d\u306b\u3059\u3070\u3084\u304f\u304a\u76ee\u5f53\u3066\u306e\u682a\u304c\u8cb7\u3048\u308c\u3070\u3001\u8cc7\u7523\u3092\u4e00\u6c17\u306b\u5897\u3084\u305b\u308b\u30c1\u30e3\u30f3\u30b9\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>&nbsp;<\/p>\n<h2>\u307e\u3068\u3081<\/h2>\n<p>\u7c73\u5927\u7d71\u9818\u9078\u306f\u30a2\u30e1\u30ea\u30ab\u56fd\u6c11\u306e\u307f\u306a\u3089\u305a\u3001\u653f\u6cbb\u7d4c\u6e08\u3067\u5bc6\u63a5\u306a\u95a2\u4fc2\u306b\u3042\u308b\u65e5\u672c\u306e\u56fd\u6c11\u306b\u3068\u3063\u3066\u3082\u3001\u91cd\u8981\u306a\u30a4\u30d9\u30f3\u30c8\u3067\u3059\u3002<\/p>\n<p>\u307e\u3057\u3066\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306f\u3001\u864e\u306e\u5b50\u306e\u8cc7\u7523\u304c\u5927\u304d\u304f\u52d5\u304f\u53ef\u80fd\u6027\u304c\u3042\u308b\u3060\u3051\u306b\u3001\u76ee\u304c\u96e2\u305b\u307e\u305b\u3093\u3002<\/p>\n<p>\u305f\u3060\u3057\u3001\u9577\u671f\u6295\u8cc7\u3067\u4fdd\u6709\u3057\u3066\u3044\u308b\u682a\u3084\u7a4d\u7acb\u6295\u8cc7\u3092\u3057\u3066\u3044\u308b\u6295\u8cc7\u4fe1\u8a17\u306a\u3069\u3092\u3001\u3053\u3046\u3057\u305f\u77ed\u671f\u306e\u5024\u52d5\u304d\u3084\u9078\u6319\u306e\u52d5\u9759\u306b\u7ffb\u5f04\u3055\u308c\u3066\u58f2\u5374\u3059\u308b\u306e\u306f\u3084\u3081\u305f\u307b\u3046\u304c\u8ce2\u660e\u3067\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001\u3053\u3053\u307e\u3067\u66f8\u3044\u305f\u3053\u3068\u3092\u3059\u3079\u3066\u5426\u5b9a\u3059\u308b\u3088\u3046\u3067\u6050\u7e2e\u3067\u3059\u304c\u3001\u682a\u5f0f\u5e02\u5834\u306f\u6570\u304b\u6708\u5148\u3001\u534a\u5e74\u5148\u3092\u898b\u8d8a\u3057\u3066\u52d5\u304f\u3053\u3068\u304c\u591a\u304f\u3001\u7d20\u4eba\u767a\u60f3\u3067\u30c6\u30fc\u30de\u682a\u306b\u624b\u3092\u51fa\u3059\u306e\u306f\u5927\u5909\u5371\u967a\u3067\u3059\u3002<\/p>\n<p>\u7b46\u8005\u306e\u7d4c\u9a13\u8ac7\u3067\u3059\u304c\u3001\u524d\u56de\u5927\u7d71\u9818\u9078\u3067\u30d0\u30a4\u30c7\u30f3\u6c0f\u304c\u52dd\u5229\u3057\u305f\u5f8c\u3001\u610f\u6c17\u8fbc\u3093\u3067\u592a\u967d\u5149\u95a2\u9023\u306e\u9298\u67c4\u3092\u4ed5\u5165\u308c\u305f\u3093\u3067\u3059\u304c\u3001\u5c31\u4efb\u3057\u305f1\u6708\u4e0b\u65ec\u304b\u30892\u6708\u4e0a\u65ec\u304c\u307b\u307c\u76f8\u5834\u306e\u5929\u4e95\u3067\u3057\u305f\u3002<\/p>\n<p>\u4e0b\u306f\u7c73\u56fd\u4e0a\u5834\u306e\u30af\u30ea\u30fc\u30f3\u30a8\u30cd\u30eb\u30ae\u30fc\u95a2\u9023\u682a\u306eETF\uff08QCLN\uff09\u306e\u904e\u53bb5\u5e74\u306e\u6708\u8db3\u30c1\u30e3\u30fc\u30c8\u3067\u3059\u3002<\/p>\n<p><img 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