{"id":31062,"date":"2026-09-16T10:36:28","date_gmt":"2026-09-16T01:36:28","guid":{"rendered":"https:\/\/official.gfs.tokyo\/blog\/?p=31062"},"modified":"2026-09-16T10:36:28","modified_gmt":"2026-09-16T01:36:28","slug":"ue-us-long-term-interest-rates-surpass-5","status":"publish","type":"post","link":"https:\/\/official.gfs.tokyo\/blog\/ue-us-long-term-interest-rates-surpass-5","title":{"rendered":"\u3010\u5fb9\u5e95\u89e3\u8aac\u3011\u7c73\u56fd\u9577\u671f\u91d1\u52295%\u7a81\u7834\uff01\u682a\u5f0f\u5e02\u5834\u306f\u3069\u3046\u306a\u308b\uff1f\u539f\u56e0\u3068\u77ed\u671f\u30fb\u4e2d\u9577\u671f\u306e\u6295\u8cc7\u6226\u7565"},"content":{"rendered":"<h2>\u3010\u5fb9\u5e95\u89e3\u8aac\u3011\u7c73\u56fd\u9577\u671f\u91d1\u52295%\u7a81\u7834\uff01\u682a\u5f0f\u5e02\u5834\u306f\u3069\u3046\u306a\u308b\uff1f\u539f\u56e0\u3068\u77ed\u671f\u30fb\u4e2d\u9577\u671f\u306e\u6295\u8cc7\u6226\u7565<\/h2>\n<p><span style=\"font-weight: 400;\">2026\u5e749\u670814\u65e5\u3001\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u50b5\u5238\u5e02\u5834\u306b\u304a\u3044\u3066\u7c73\u56fd\u306e10\u5e74\u7269\u56fd\u50b5\u5229\u56de\u308a\uff08\u9577\u671f\u91d1\u5229\uff09\u304c\u4e00\u6642<\/span><b>5.01%<\/b><span style=\"font-weight: 400;\">\u307e\u3067\u4e0a\u6607\u3057\u30012023\u5e7410\u6708\u4ee5\u6765\u3001\u7d042\u5e7411\u30f6\u6708\u3076\u308a\u3068\u306a\u308b\u300c5%\u300d\u306e\u5927\u53f0\u3092\u7a81\u7834\u3057\u307e\u3057\u305f\u3002\u30e2\u30eb\u30ac\u30f3\u30fb\u30b9\u30bf\u30f3\u30ec\u30fc\u306e\u30ea\u30dd\u30fc\u30c8\u3067\u3082\u300c\u5fc3\u7406\u7684\u306b\u6975\u3081\u3066\u91cd\u8981\u306a\u6c34\u6e96\u300d\u3068\u6307\u6458\u3055\u308c\u305f\u3053\u306e\u30a4\u30d9\u30f3\u30c8\u3092\u53d7\u3051\u3001\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u682a\u5f0f\u5e02\u5834\u3067\u306f\u30c0\u30a6\u5e73\u5747\u682a\u4fa1\u304c152.09\u30c9\u30eb\u5b89\u306e5\u4e072,421.20\u30c9\u30eb\u3001\u30ca\u30b9\u30c0\u30c3\u30af\u7dcf\u5408\u6307\u6570\u3082146.63\u30dd\u30a4\u30f3\u30c8\u5b89\u306e2\u4e076,186.41\u30dd\u30a4\u30f3\u30c8\u3068\u3001\u5168\u9762\u7684\u306b\u58f2\u3089\u308c\u308b\u5c55\u958b\u3068\u306a\u308a\u307e\u3057\u305f\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u300c\u91d1\u5229\u304c\u4e0a\u304c\u308b\u3068\u682a\u304c\u4e0b\u304c\u308b\u4ed5\u7d44\u307f\u304c\u3088\u304f\u5206\u304b\u3089\u306a\u3044\u300d\u300c\u30cb\u30e5\u30fc\u30b9\u3067\u6025\u62e1\u5927\u3059\u308b\u8b66\u6212\u611f\u306b\u3069\u3046\u5bfe\u51e6\u3059\u3079\u304d\u304b\u300d\u300c\u81ea\u5206\u306e\u7a4d\u7acb\u6295\u8cc7\u3084\u4fdd\u6709\u9298\u67c4\u3092\u3069\u3046\u3059\u3079\u304d\u304b\u300d\u3068\u4e0d\u5b89\u3092\u62b1\u3044\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u3082\u591a\u3044\u306f\u305a\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001\u91d1\u878d\u77e5\u8b58\u306b\u81ea\u4fe1\u304c\u306a\u3044\u521d\u5fc3\u8005\u304b\u3089\u4e2d\u4e0a\u7d1a\u8005\u307e\u3067\u7db2\u7f85\u7684\u306b\u7406\u89e3\u3067\u304d\u308b\u3088\u3046\u3001\u4eca\u56de\u306e\u9577\u671f\u91d1\u52295%\u7a81\u7834\u306e\u80cc\u666f\u30fb\u539f\u56e0\u3001\u682a\u5f0f\u5e02\u5834\u3078\u306e\u6ce2\u53ca\u30e1\u30ab\u30cb\u30ba\u30e0\u3001\u77ed\u671f\u30fb\u4e2d\u671f\u30fb\u9577\u671f\u3067\u306e\u6ce8\u76ee\u30dd\u30a4\u30f3\u30c8\u3001\u7d76\u5bfe\u306b\u907f\u3051\u308b\u3079\u304dNG\u884c\u52d5\u3001\u305d\u3057\u3066\u3053\u308c\u304b\u3089\u306e\u6642\u4ee3\u3092\u751f\u304d\u629c\u304f\u305f\u3081\u306e\u91d1\u878d\u30ea\u30c6\u30e9\u30b7\u30fc\u307e\u3067\u5fb9\u5e95\u7684\u306b\u4f53\u7cfb\u5316\u3057\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/span><\/p>\n<div>\n<div class=\"attention a-1\">\n<p style=\"text-align: left;\"><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 style=\"text-align: left;\"><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<\/div>\n<h2><b>\u7b2c1\u7ae0\uff1a\u6982\u8981\u301c\u300c\u7c73\u9577\u671f\u91d1\u52295%\u7a81\u7834\u300d\u304c\u4e16\u754c\u5e02\u5834\u306b\u4e0e\u3048\u308b\u51c4\u307e\u3058\u3044\u885d\u6483\u301c<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">\u7c73\u56fd\u306e\u9577\u671f\u91d1\u5229\u306f\u3001\u4e16\u754c\u4e2d\u306e\u3042\u3089\u3086\u308b\u91d1\u878d\u5546\u54c1\u306e\u4fa1\u683c\u6c7a\u5b9a\u306b\u304a\u3044\u3066<\/span><b>\u300c\u91cd\u529b\u300d<\/b><span style=\"font-weight: 400;\">\u306e\u5f79\u5272\u3092\u679c\u305f\u3057\u3066\u3044\u307e\u3059\u3002\u7121\u30ea\u30b9\u30af\u8cc7\u7523\uff08\u56fd\u50b5\uff09\u306e\u91d1\u5229\u304c5%\u306b\u9054\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u91d1\u878d\u5e02\u5834\u5168\u4f53\u306e\u524d\u63d0\u6761\u4ef6\u304c\u6839\u672c\u304b\u3089\u5857\u308a\u66ff\u3048\u3089\u308c\u308b\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002<\/span><\/p>\n<h3><b>1. \u30cb\u30e5\u30fc\u30b9\u306e\u8981\u70b9\u6574\u7406<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u9577\u671f\u91d1\u5229\u306e5%\u7a81\u7834\uff1a<\/b><span style=\"font-weight: 400;\"> \u7c73\u56fd10\u5e74\u7269\u56fd\u50b5\u5229\u56de\u308a\u304c\u4e00\u66425.01%\u306b\u9054\u3057\u30012023\u5e7410\u6708\u306b\u3064\u3051\u305f\u9ad8\u5024\uff085.02%\uff09\u306e\u66f4\u65b0\u3001\u3072\u3044\u3066\u306f\u7d0419\u5e74\u3076\u308a\u306e\u9ad8\u6c34\u6e96\u5230\u9054\u304c\u73fe\u5b9f\u5473\u3092\u5e2f\u3073\u3066\u3044\u307e\u3059\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u539f\u6cb9\u4fa1\u683c\u306e\u6025\u9a30\uff1a<\/b><span style=\"font-weight: 400;\"> \u4e2d\u6771\u60c5\u52e2\u306e\u7dca\u8feb\u5316\u306b\u4f34\u3044\u3001WTI\u539f\u6cb9\u5148\u7269\u4fa1\u683c\u304c\u524d\u9031\u672b\u6bd44.9%\u9ad8\u306e1\u30d0\u30ec\u30eb\uff1d104\u30c9\u30eb\u53f0\u5f8c\u534a\u306b\u6025\u4f38\u3057\u307e\u3057\u305f\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>FRB\u306e\u5229\u4e0a\u3052\u518d\u958b\u89b3\u6e2c\uff1a<\/b><span style=\"font-weight: 400;\"> \u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u306e\u4e0a\u6607\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u518d\u71c3\u3055\u305b\u3001\u30a6\u30a9\u30fc\u30b7\u30e5\u8b70\u9577\u7387\u3044\u308b\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u7406\u4e8b\u4f1a\uff08FRB\uff09\u304cFOMC\uff08\u9023\u90a6\u516c\u958b\u5e02\u5834\u59d4\u54e1\u4f1a\uff09\u3067\u8ffd\u52a0\u5229\u4e0a\u3052\u306b\u52d5\u304f\u3068\u306e\u89b3\u6e2c\u304c\u5f37\u307e\u308a\u307e\u3057\u305f\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u682a\u5f0f\u5e02\u5834\u306e\u5168\u9762\u5b89\uff1a<\/b><span style=\"font-weight: 400;\"> \u682a\u4fa1\u8a55\u4fa1\u306e\u5207\u308a\u4e0b\u3052\uff08\u30de\u30eb\u30c1\u30d7\u30eb\u30fb\u30b3\u30f3\u30c8\u30e9\u30af\u30b7\u30e7\u30f3\uff09\u304c\u9032\u884c\u3057\u3001\u7279\u306b\u9ad8PER\uff08\u682a\u4fa1\u53ce\u76ca\u7387\uff09\u306e\u30cf\u30a4\u30c6\u30af\u30fbAI\u95a2\u9023\u9298\u67c4\u3092\u4e2d\u5fc3\u306b\u58f2\u308a\u304c\u6ce2\u53ca\u3057\u307e\u3057\u305f\u3002<\/span><\/li>\n<\/ul>\n<h3><b>2. \u306a\u305c\u300c5%\u300d\u3068\u3044\u3046\u6570\u5b57\u304c\u305d\u308c\u307b\u3069\u91cd\u8981\u306a\u306e\u304b\uff1f<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u7c73\u56fd\u50b5\u306f\u300c\u4e8b\u5b9f\u4e0a\u30ea\u30b9\u30af\u304c\u30bc\u30ed\u300d\u3068\u3055\u308c\u308b\u7121\u30ea\u30b9\u30af\u8cc7\u7523\uff08Risk-Free Asset\uff09\u3067\u3059\u3002\u5e02\u5834\u53c2\u52a0\u8005\u306f\u5e38\u306b\u300c\u30ea\u30b9\u30af\u3092\u53d6\u3063\u3066\u5f97\u308b\u682a\u5f0f\u306e\u30ea\u30bf\u30fc\u30f3\u300d\u3068\u300c\u30ea\u30b9\u30af\u30bc\u30ed\u3067\u5f97\u3089\u308c\u308b\u56fd\u50b5\u306e\u30ea\u30bf\u30fc\u30f3\u300d\u3092\u5929\u79e4\u306b\u304b\u3051\u307e\u3059\u3002<\/span><\/p>\n<table>\n<thead>\n<tr>\n<th>\n<p><b>\u6bd4\u8f03\u9805\u76ee<\/b><\/p>\n<\/th>\n<th>\n<p><b>\u7c73\u56fd10\u5e74\u7269\u56fd\u50b5<\/b><\/p>\n<\/th>\n<th>\n<p><b>\u682a\u5f0f\u6295\u8cc7\uff08\u5168\u822c\uff09<\/b><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\n<p><b>\u5143\u672c\u4fdd\u8a3c\u30fb\u30ea\u30b9\u30af<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">\u7c73\u56fd\u653f\u5e9c\u304c\u4fdd\u8a3c\uff08\u7121\u30ea\u30b9\u30af\u306b\u8fd1\u3044\uff09<\/span><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">\u4fa1\u683c\u5909\u52d5\u30ea\u30b9\u30af\u30fb\u5012\u7523\u30ea\u30b9\u30af\u3042\u308a<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>\u5f97\u3089\u308c\u308b\u30ea\u30bf\u30fc\u30f3<\/b><\/p>\n<\/td>\n<td>\n<p><b>\u5e745.0%\uff08\u78ba\u5b9a\uff09<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">\u914d\u5f53\uff0b\u682a\u4fa1\u5909\u52d5\uff08\u4e0d\u78ba\u5b9a\uff09<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>\u6295\u8cc7\u5bb6\u306e\u884c\u52d5<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">\u5b89\u5168\u306b5%\u304c\u5f97\u3089\u308c\u308b\u305f\u3081\u8cc7\u91d1\u304c\u96c6\u307e\u308b<\/span><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">\u9ad8\u3044\u30d7\u30ec\u30df\u30a2\u30e0\u304c\u4e57\u3089\u306a\u3051\u308c\u3070\u58f2\u3089\u308c\u308b<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">\u7121\u30ea\u30b9\u30af\u3067\u5e74\u95935%\u306e\u30ea\u30bf\u30fc\u30f3\u304c\u5f97\u3089\u308c\u308b\u74b0\u5883\u3067\u306f\u3001\u914d\u5f53\u5229\u56de\u308a\u304c2\u301c3%\u7a0b\u5ea6\u3067\u4fa1\u683c\u5909\u52d5\u306e\u6fc0\u3057\u3044\u682a\u5f0f\u3092\u4fdd\u6709\u3059\u308b\u9b45\u529b\u306f\u5927\u304d\u304f\u8584\u308c\u307e\u3059\u3002\u6a5f\u95a2\u6295\u8cc7\u5bb6\uff08\u5e74\u91d1\u57fa\u91d1\u3084\u653f\u5e9c\u7cfb\u30d5\u30a1\u30f3\u30c9\uff09\u306f\u3001\u682a\u5f0f\u304b\u3089\u50b5\u5238\u3078\u3068\u5de8\u5927\u306a\u8cc7\u91d1\u3092\u30b7\u30d5\u30c8\u3055\u305b\u308b\u305f\u3081\u3001\u682a\u5f0f\u5e02\u5834\u5168\u4f53\u306b\u5f37\u70c8\u306a\u58f2\u5374\u5727\u529b\u304c\u304b\u304b\u308b\u306e\u3067\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>\u7b2c2\u7ae0\uff1a\u539f\u56e0\u301c\u306a\u305c\u9577\u671f\u91d1\u5229\u306f5%\u307e\u3067\u6025\u4e0a\u6607\u3057\u305f\u306e\u304b\uff1f\u301c<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">\u91d1\u5229\u306f\u9700\u8981\u3068\u4f9b\u7d66\u3001\u305d\u3057\u3066\u5c06\u6765\u306e\u30a4\u30f3\u30d5\u30ec\u4e88\u60f3\u3084\u653f\u7b56\u91d1\u5229\u306e\u898b\u901a\u3057\u306b\u3088\u3063\u3066\u6c7a\u5b9a\u3055\u308c\u307e\u3059\u3002\u4eca\u56de\u306e\u91d1\u5229\u6025\u9a30\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u8981\u56e0\u306f\u3001\u5358\u4e00\u3067\u306f\u306a\u304f\u8907\u6570\u306e\u30de\u30af\u30ed\u7d4c\u6e08\u8981\u7d20\u304c\u8907\u5408\u7684\u306b\u7d61\u307f\u5408\u3063\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<h3><b>\u539f\u56e01\uff1a\u4e2d\u6771\u60c5\u52e2\u306e\u60aa\u5316\u306b\u4f34\u3046\u300c\u539f\u6cb9\u9ad8\u300d\u3068\u30a4\u30f3\u30d5\u30ec\u518d\u71c3\u61f8\u5ff5<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u6700\u5927\u306e\u76f4\u63a5\u7684\u30c8\u30ea\u30ac\u30fc\u306f\u539f\u6cb9\u5148\u7269\u4fa1\u683c\u306e\u6025\u9a30\u3067\u3059\u3002WTI\u539f\u6cb9\u4fa1\u683c\u304c1\u30d0\u30ec\u30eb\uff1d104\u30c9\u30eb\u53f0\u5f8c\u534a\u307e\u3067\u4e0a\u6607\u3057\u305f\u3053\u3068\u3067\u3001\u30ac\u30bd\u30ea\u30f3\u4fa1\u683c\u3084\u7269\u6d41\u30b3\u30b9\u30c8\u3001\u88fd\u54c1\u539f\u6750\u6599\u8cbb\u306e\u4e0a\u6607\u3092\u901a\u3058\u3066<\/span><b>\u300c\u30b3\u30b9\u30c8\u30d7\u30c3\u30b7\u30e5\u578b\u30a4\u30f3\u30d5\u30ec\u300d<\/b><span style=\"font-weight: 400;\">\u304c\u9577\u5f15\u304f\u3068\u306e\u61f8\u5ff5\u304c\u6025\u901f\u306b\u5f37\u307e\u308a\u307e\u3057\u305f\u3002\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u9ad8\u6b62\u307e\u308a\u3059\u308b\u3068\u3001\u50b5\u5238\u306e\u4fa1\u5024\uff08\u5b9f\u8cea\u5229\u56de\u308a\uff09\u304c\u76ee\u6e1b\u308a\u3059\u308b\u305f\u3081\u3001\u50b5\u5238\u5229\u56de\u308a\u306b\u4e0a\u6607\u5727\u529b\u304c\u304b\u304b\u308a\u307e\u3059\u3002<\/span><\/p>\n<h3><b>\u539f\u56e02\uff1aFRB\u306e\u5229\u4e0a\u3052\u30fb\u9ad8\u91d1\u5229\u9577\u671f\u5316\uff08Higher for Longer\uff09\u89b3\u6e2c\u306e\u518d\u71c3<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u539f\u6cb9\u9ad8\u306b\u3088\u308b\u30a4\u30f3\u30d5\u30ec\u5727\u529b\u306e\u518d\u71c3\u3092\u53d7\u3051\u3001\u5e02\u5834\u3067\u306fFRB\u304c\u653f\u7b56\u91d1\u5229\u3092\u5f15\u304d\u4e0a\u3052\u308b\u3001\u3042\u308b\u3044\u306f\u9ad8\u91d1\u5229\u6c34\u6e96\u3092\u60f3\u5b9a\u4ee5\u4e0a\u306b\u9577\u304f\u7dad\u6301\u3059\u308b\u3068\u306e\u898b\u65b9\u304c\u5e83\u304c\u308a\u307e\u3057\u305f\u3002FRB\u306e\u653f\u7b56\u6c7a\u5b9a\uff08FOMC\uff09\u3092\u63a7\u3048\u308b\u4e2d\u3001\u653f\u7b56\u91d1\u5229\u898b\u901a\u3057\u306e\u4e0a\u65b9\u4fee\u6b63\u304c\u9577\u671f\u91d1\u5229\uff0810\u5e74\u50b5\u5229\u56de\u308a\uff09\u3092\u62bc\u3057\u4e0a\u3052\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<h3><b>\u539f\u56e03\uff1a\u7c73\u56fd\u653f\u5e9c\u306e\u8ca1\u653f\u8d64\u5b57\u5897\u5927\u3068\u56fd\u50b5\u306e\u5927\u91cf\u767a\u884c\uff08\u9700\u7d66\u306e\u60aa\u5316\uff09<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u91d1\u5229\u4e0a\u6607\u306e\u69cb\u9020\u7684\u306a\u8981\u56e0\u3068\u3057\u3066\u898b\u9003\u305b\u306a\u3044\u306e\u304c\u3001\u7c73\u56fd\u653f\u5e9c\u306e\u81a8\u5927\u306a\u8ca1\u653f\u8d64\u5b57\u3067\u3059\u3002\u653f\u5e9c\u306f\u6b73\u51fa\u3092\u8cc4\u3046\u305f\u3081\u306b\u56fd\u50b5\u3092\u5927\u91cf\u306b\u9023\u7d9a\u767a\u884c\u3057\u3066\u304a\u308a\u3001\u5e02\u5834\u306b\u306f\u7c73\u56fd\u50b5\u304c\u6ea2\u308c\u3066\u3044\u307e\u3059\u3002\u300c\u4f9b\u7d66\u904e\u5270\u300d\u306b\u9665\u3063\u305f\u56fd\u50b5\u306f\u4fa1\u683c\u304c\u4e0b\u843d\u3057\u3001\u7d50\u679c\u3068\u3057\u3066\u56fd\u50b5\u5229\u56de\u308a\uff08\uff1d\u9577\u671f\u91d1\u5229\uff09\u304c\u4e0a\u6607\u3059\u308b\u30e1\u30ab\u30cb\u30ba\u30e0\u304c\u50cd\u3044\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<h3><b>\u539f\u56e04\uff1aAI\u6295\u8cc7\u306e\u4e00\u5de1\u611f\u3068\u7d4c\u6e08\u306e\u300c\u7c98\u7740\u8cea\u306a\u5f37\u3055\u300d<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u682a\u5f0f\u5e02\u5834\u3067\u306f\u3001AI\u958b\u767a\u306e\u30da\u30fc\u30b9\u920d\u5316\u61f8\u5ff5\u3084\u5de8\u984d\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u306b\u5bfe\u3059\u308b\u6295\u8cc7\u56de\u53ce\u3078\u306e\u7591\u554f\u304b\u3089\u534a\u5c0e\u4f53\u30fbAI\u95a2\u9023\u9298\u67c4\u304c\u58f2\u3089\u308c\u307e\u3057\u305f\u3002\u4e00\u65b9\u3067\u3001\u7c73\u56fd\u7d4c\u6e08\u81ea\u4f53\u306e\u96c7\u7528\u3084\u500b\u4eba\u6d88\u8cbb\u304c\u4f9d\u7136\u3068\u3057\u3066\u5e95\u5805\u3044\u3053\u3068\u3082\u3001\u300c\u91d1\u5229\u3092\u4e0b\u3052\u3089\u308c\u306a\u3044\u300d\u3068\u3044\u3046\u72b6\u6cc1\u3092\u4f5c\u308a\u51fa\u3057\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<div class=\"xcd-attention-6 xcd-col5 xcd-ripple\">\n<div class=\"xcd-title-wrap\">\n<div class=\"xcd-title\"><span>\u3042\u306a\u305f\u306b\u672c\u5f53\u306b\u9069\u3057\u305f\u6295\u8cc7\u306f\u3069\u308c\uff1f<\/span><\/div>\n<\/div>\n<div class=\"xcd-content\">\n<p><span style=\"font-size: 12pt;\"><strong>\u30fb\u6295\u8cc7\u3067\u53ce\u5165\u3092\u5f97\u305f\u3044\u3001\u8cc7\u7523\u3092\u5897\u3084\u3057\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u30ea\u30b9\u30af\u306f\u3067\u304d\u308b\u3060\u3051\u6291\u3048\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u6295\u8cc7\u5148\u306e\u898b\u6975\u3081\u65b9\u3092\u77e5\u308a\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u6210\u529f\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u3068\u63a5\u70b9\u304c\u6b32\u3057\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u7269\u4fa1\u4e0a\u6607\u3078\u306e\u5bfe\u7b56\u306b\u306f\u6295\u8cc7\u304c\u5fc5\u8981\u3068\u8003\u3048\u3066\u3044\u308b\u3000YES or NO<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\"><strong>\u2192\u3000YES\u304c\uff13\u3064\u4ee5\u4e0a\u3060\u3063\u305f\u65b9\u306f\u3001\u3053\u3061\u3089\u3092\u30af\u30ea\u30c3\u30af<\/strong><\/a><\/span><\/p>\n<\/div>\n<\/div>\n<h2><b>\u7b2c3\u7ae0\uff1a\u682a\u5f0f\u5e02\u5834\u3078\u306e\u5f71\u97ff\u30e1\u30ab\u30cb\u30ba\u30e0\u301c\u91d1\u5229\u304c\u4e0a\u304c\u308b\u3068\u682a\u304c\u4e0b\u304c\u308b\u7406\u7531\u301c<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">\u521d\u5fc3\u8005\u306e\u65b9\u304c\u6700\u3082\u77e5\u308a\u305f\u3044\u300c\u91d1\u5229\u4e0a\u6607\u3068\u682a\u4fa1\u4e0b\u843d\u306e\u95a2\u4fc2\u300d\u3092\u3001\u91d1\u878d\u7406\u8ad6\u306e\u89b3\u70b9\u304b\u3089\u5206\u304b\u308a\u3084\u3059\u304f3\u3064\u306e\u30e1\u30ab\u30cb\u30ba\u30e0\u306b\u5206\u89e3\u3057\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/span><\/p>\n<h3><b>1. \u5272\u5f15\u7387\u306e\u4e0a\u6607\u306b\u3088\u308b\u300c\u7406\u8ad6\u682a\u4fa1\u300d\u306e\u5207\u308a\u4e0b\u3052<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u682a\u5f0f\u306e\u9069\u6b63\u4fa1\u5024\uff08\u7406\u8ad6\u682a\u4fa1\uff09\u306f\u3001\u300c\u305d\u306e\u4f01\u696d\u304c\u5c06\u6765\u751f\u307f\u51fa\u3059\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u3001\u73fe\u5728\u306e\u4fa1\u5024\u306b\u5272\u308a\u5f15\u3044\u305f\u5408\u8a08\u300d\u3067\u8a08\u7b97\u3055\u308c\u307e\u3059\u3002\u3053\u306e\u5272\u5f15\u7387\u306b\u306f\u9577\u671f\u91d1\u5229\u304c\u57fa\u6e96\u3068\u3057\u3066\u7d44\u307f\u8fbc\u307e\u308c\u307e\u3059\u3002<\/span><\/p>\n<p><b>\u7406\u8ad6\u682a\u4fa1\u306e\u7c21\u6613\u30a4\u30e1\u30fc\u30b8\uff1a<\/b><\/p>\n<p><span style=\"font-weight: 400;\">\u7406\u8ad6\u682a\u4fa1 \uff1d \u5c06\u6765\u306e\u671f\u5f85\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc \u00f7 (\u9577\u671f\u91d1\u5229 \uff0b \u682a\u5f0f\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u203b\u5206\u6bcd\u3067\u3042\u308b\u300c\u9577\u671f\u91d1\u5229\u300d\u304c\u62e1\u5927\u3059\u308b\u3068\u3001\u8a08\u7b97\u3055\u308c\u308b\u73fe\u5728\u306e\u682a\u4fa1\u4fa1\u5024\u306f\u4f4e\u4e0b\u3057\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u7279\u306b\u3001\u5229\u76ca\u306e\u591a\u304f\u304c\u9060\u3044\u672a\u6765\u306b\u3042\u308b\u300c\u30b0\u30ed\u30fc\u30b9\u682a\uff08\u6210\u9577\u682a\uff09\u300d\u3084\u300c\u30cf\u30a4\u30c6\u30af\u30fbAI\u95a2\u9023\u682a\u300d\u307b\u3069\u3001\u9577\u671f\u91d1\u5229\u4e0a\u6607\uff08\u5272\u5f15\u7387\u4e0a\u6607\uff09\u306e\u30c0\u30e1\u30fc\u30b8\u3092\u76f4\u63a5\u7684\u306b\u53d7\u3051\u3001\u682a\u4fa1\u304c\u5927\u304d\u304f\u8abf\u6574\u3057\u307e\u3059\u3002<\/span><\/p>\n<h3><b>2. \u8cc7\u91d1\u8abf\u9054\u30b3\u30b9\u30c8\u306e\u4e0a\u6607\u3068\u4f01\u696d\u696d\u7e3e\u306e\u5727\u8feb<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u9577\u671f\u91d1\u5229\u304c5%\u306b\u9054\u3059\u308b\u3068\u3001\u4f01\u696d\u304c\u9280\u884c\u304b\u3089\u501f\u308a\u5165\u308c\u3092\u884c\u3063\u305f\u308a\u3001\u793e\u50b5\u3092\u767a\u884c\u3057\u3066\u8cc7\u91d1\u8abf\u9054\u3059\u308b\u969b\u306e\u91d1\u5229\u30b3\u30b9\u30c8\u3082\u6025\u5897\u3057\u307e\u3059\u3002\u904e\u53bb\u306e\u8d85\u4f4e\u91d1\u5229\u6642\u4ee3\u306b\u8abf\u9054\u3057\u305f\u50b5\u52d9\u306e\u501f\u63db\uff08\u30ea\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\uff09\u671f\u3092\u8fce\u3048\u305f\u4f01\u696d\u306f\u3001\u5229\u6255\u3044\u8ca0\u62c5\u304c\u5897\u52a0\u3057\u3001\u6700\u7d42\u7684\u306a\u7d14\u5229\u76ca\u304c\u5727\u8feb\u3055\u308c\u307e\u3059\u3002\u7d4c\u55b6\u4f53\u529b\u306e\u5f31\u3044\u4e2d\u5c0f\u578b\u682a\u3084\u50b5\u52d9\u6bd4\u7387\u306e\u9ad8\u3044\u4f01\u696d\u307b\u3069\u6df1\u523b\u306a\u6253\u6483\u3092\u53d7\u3051\u307e\u3059\u3002<\/span><\/p>\n<h3><b>3. \u30a4\u30fc\u30eb\u30c9\u30ae\u30e3\u30c3\u30d7\u306e\u7e2e\u5c0f\u3068\u300c\u682a\u5f0f\u304b\u3089\u50b5\u5238\u3078\u306e\u4ee3\u66ff\u300d<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u30a4\u30fc\u30eb\u30c9\u30ae\u30e3\u30c3\u30d7\u3068\u306f\u3001\u300c\u682a\u5f0f\u306e\u76ca\u5229\u56de\u308a\uff081\u00f7PER\uff09\u300d\u304b\u3089\u300c\u9577\u671f\u91d1\u5229\u300d\u3092\u5f15\u3044\u305f\u5024\u3067\u3001\u682a\u5f0f\u6295\u8cc7\u306e\u5272\u5b89\u611f\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/span><\/p>\n<table>\n<thead>\n<tr>\n<th>\n<p><b>\u6307\u6a19\u30fb\u6761\u4ef6<\/b><\/p>\n<\/th>\n<th>\n<p><b>\u4f4e\u91d1\u5229\u74b0\u5883\uff08\u91d1\u52292%\uff09<\/b><\/p>\n<\/th>\n<th>\n<p><b>\u9ad8\u91d1\u5229\u74b0\u5883\uff08\u91d1\u52295%\uff09<\/b><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\n<p><b>S&amp;P500\u306ePER\uff08\u60f3\u5b9a\uff09<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">20\u500d\uff08\u76ca\u5229\u56de\u308a 5.0%\uff09<\/span><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">20\u500d\uff08\u76ca\u5229\u56de\u308a 5.0%\uff09<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>\u7c73\u56fd10\u5e74\u50b5\u5229\u56de\u308a<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">2.0%<\/span><\/p>\n<\/td>\n<td>\n<p><b>5.0%<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>\u30a4\u30fc\u30eb\u30c9\u30ae\u30e3\u30c3\u30d7<\/b><\/p>\n<\/td>\n<td>\n<p><b>\uff0b3.0%<\/b><span style=\"font-weight: 400;\">\uff08\u682a\u5f0f\u306b\u5341\u5206\u306a\u9b45\u529b\uff09<\/span><\/p>\n<\/td>\n<td>\n<p><b>0.0%<\/b><span style=\"font-weight: 400;\">\uff08\u682a\u5f0f\u306e\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0\u6d88\u5931\uff09<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">\u9577\u671f\u91d1\u5229\u304c5%\u307e\u3067\u4e0a\u6607\u3059\u308b\u3068\u3001\u682a\u5f0f\u3092\u4fdd\u6709\u3059\u308b\u30ea\u30b9\u30af\u306b\u898b\u5408\u3046\u8d85\u904e\u30ea\u30bf\u30fc\u30f3\uff08\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0\uff09\u304c\u5b9f\u8cea\u30bc\u30ed\u306b\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u5168\u4e16\u754c\u306e\u5927\u624b\u6295\u8cc7\u30d5\u30a1\u30f3\u30c9\u304c\u300c\u682a\u5f0f\u3092\u58f2\u3063\u3066\u3001\u50b5\u5238\u3092\u8cb7\u3046\u300d\u5224\u65ad\u3092\u4e0b\u3059\u306e\u3067\u3059\u3002<\/span><\/p>\n<div class=\"attention a-2\">\n<h4 data-path-to-node=\"18\"><span style=\"font-size: 18pt;\"><b data-path-to-node=\"18\" data-index-in-node=\"0\"><\/b><\/span><span class=\"f-marker-p\"><span style=\"font-size: 18pt;\"><b data-path-to-node=\"18\" data-index-in-node=\"0\">\u3000\u25bc\u300c\u73fe\u5728\u306e\u3042\u306a\u305f\u306e\u76ee\u6a19\u300d\u3092\u4e00\u3064\u9078\u3093\u3067\u307f\u3066\u304f\u3060\u3055\u3044<\/b><\/span><span style=\"font-size: 18pt;\"><b data-path-to-node=\"18\" data-index-in-node=\"0\">\u25bc<\/b><\/span><\/span><span style=\"font-size: 18pt;\"><b data-path-to-node=\"18\" data-index-in-node=\"0\"><\/b><\/span><\/h4>\n<ul data-path-to-node=\"19\">\n<li>\n<p data-path-to-node=\"19,0,0\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\"><b data-path-to-node=\"19,0,0\" data-index-in-node=\"0\">\u3010\u5b89\u5b9a\u91cd\u8996\u3011<\/b> \u8001\u5f8c\u8cc7\u91d1\u306e\u305f\u3081\u306b\u3001\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u30ba\u3092\u8ef8\u306b\u3057\u305f\u300c\u8ca0\u3051\u306a\u3044\u7a4d\u7acb\u6295\u8cc7\u300d\u3092\u30de\u30b9\u30bf\u30fc\u3057\u305f\u3044\u3002<\/a><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"19,1,0\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\"><b data-path-to-node=\"19,1,0\" data-index-in-node=\"0\">\u3010\u526f\u53ce\u5165\u91cd\u8996\u3011<\/b> \u67085\u4e07\u301c10\u4e07\u5186\u3092\u76ee\u6307\u3057\u3001\u30c6\u30af\u30cb\u30ab\u30eb\u3092\u99c6\u4f7f\u3057\u305f\u300c\u52b9\u7387\u7684\u306a\u30c8\u30ec\u30fc\u30c9\u300d\u3092\u8eab\u306b\u3064\u3051\u305f\u3044<\/a>\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"19,2,0\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\"><b data-path-to-node=\"19,2,0\" data-index-in-node=\"0\">\u3010\u30d7\u30ed\u5fd7\u5411\u3011<\/b> \u4e21\u65b9\u306e\u5206\u6790\u3092\u30cf\u30a4\u30d6\u30ea\u30c3\u30c9\u3067\u4f7f\u3044\u3053\u306a\u3057\u3001\u76f8\u5834\u306e\u30d7\u30ed\u3068\u3057\u3066\u72ec\u7acb\u30fb\u8cc7\u7523\u904b\u7528\u3092\u3057\u305f\u3044\u3002<\/a><\/p>\n<\/li>\n<\/ul>\n<\/div>\n<h2><b>\u7b2c4\u7ae0\uff1a\u671f\u9593\u5225\uff08\u77ed\u671f\u30fb\u4e2d\u671f\u30fb\u9577\u671f\uff09\u3067\u306e\u6ce8\u76ee\u30dd\u30a4\u30f3\u30c8<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">\u9577\u671f\u91d1\u52295%\u7a81\u7834\u3068\u3044\u3046\u5c40\u9762\u306b\u5bfe\u3057\u3001\u6295\u8cc7\u5bb6\u306f\u6642\u9593\u8ef8\u3054\u3068\u306b\u7570\u306a\u308b\u8996\u70b9\u3092\u6301\u3064\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002\u77ed\u671f\u30fb\u4e2d\u671f\u30fb\u9577\u671f\u305d\u308c\u305e\u308c\u306e\u5e02\u5834\u52d5\u5411\u3068\u6ce8\u8996\u3059\u3079\u304d\u6307\u6a19\u3092\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/span><\/p>\n<h3><b>1. \u77ed\u671f\u7684\u306a\u6ce8\u76ee\u70b9\uff08\u6570\u9031\u9593\u301c\u6570\u30f6\u6708\uff09<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>VIX\u6307\u6570\uff08\u6050\u6016\u6307\u6570\uff09\u306e\u8df3\u306d\u4e0a\u304c\u308a\u3068\u5e02\u5834\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff1a<\/b><span style=\"font-weight: 400;\"> \u91d1\u5229\u6025\u9a30\u76f4\u5f8c\u306f\u6295\u8cc7\u5bb6\u5fc3\u7406\u304c\u51b7\u5374\u5316\u3057\u3001\u4e00\u6642\u7684\u306a\u30d1\u30cb\u30c3\u30af\u58f2\u308a\u304c\u8d77\u304d\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002VIX\u6307\u6570\u304c\u9ad8\u6c34\u6e96\u306b\u9054\u3059\u308b\u5c40\u9762\u3067\u306f\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306e\u62e1\u5927\u306b\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u70ba\u66ff\u5e02\u5834\u306e\u6025\u5909\u52d5\uff08\u30c9\u30eb\u9ad8\u30fb\u5186\u5b89\u3068\u30ea\u30b9\u30af\u30aa\u30d5\u306e\u5dfb\u304d\u623b\u3057\uff09\uff1a<\/b><span style=\"font-weight: 400;\"> \u65e5\u7c73\u91d1\u5229\u5dee\u306e\u62e1\u5927\u306f\u4e00\u6642\u7684\u306b\u5186\u5b89\u30fb\u30c9\u30eb\u9ad8\u8981\u56e0\u3068\u306a\u308a\u307e\u3059\u304c\u3001\u682a\u5b89\u304c\u6df1\u523b\u5316\u3057\u305f\u5834\u5408\u3001\u30ea\u30b9\u30af\u30aa\u30d5\u306e\u5186\u8cb7\u3044\u3084\u5404\u56fd\u306e\u70ba\u66ff\u4ecb\u5165\u8b66\u6212\u611f\u304c\u5f37\u307e\u308a\u3001\u6025\u6fc0\u306a\u5186\u9ad8\u306b\u632f\u308c\u308b\u4e21\u30ea\u30b9\u30af\u304c\u5b58\u5728\u3057\u307e\u3059\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>FOMC\u58f0\u660e\u3068FRB\u9ad8\u5b98\u306e\u767a\u8a00\uff1a<\/b><span style=\"font-weight: 400;\"> \u30a6\u30a9\u30fc\u30b7\u30e5\u8b70\u9577\u3092\u306f\u3058\u3081\u3068\u3059\u308bFRB\u30e1\u30f3\u30d0\u30fc\u304c\u300c\u30a4\u30f3\u30d5\u30ec\u6291\u6b62\u306e\u305f\u3081\u306b\u5229\u4e0a\u3052\u7d99\u7d9a\u30fb\u9ad8\u91d1\u5229\u7dad\u6301\u300d\u306e\u5f37\u786c\u59ff\u52e2\uff08\u30bf\u30ab\u6d3e\uff09\u3092\u793a\u3059\u304b\u3069\u3046\u304b\u304c\u3001\u77ed\u671f\u5e02\u5834\u306e\u6700\u5927\u95a2\u5fc3\u4e8b\u3067\u3059\u3002<\/span><\/li>\n<\/ul>\n<h3><b>2. \u4e2d\u671f\u7684\u306a\u6ce8\u76ee\u70b9\uff08\u6570\u30f6\u6708\u301c2\u5e74\u7a0b\u5ea6\uff09<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u4f01\u696d\u6c7a\u7b97\u306b\u304a\u3051\u308b\u300c\u30ea\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u5f71\u97ff\u300d\u306e\u9732\u5448\uff1a<\/b><span style=\"font-weight: 400;\"> \u9ad8\u91d1\u5229\u4e0b\u3067\u767a\u884c\u3055\u308c\u305f\u793e\u50b5\u306e\u5229\u6255\u3044\u5897\u52a0\u304c\u3001\u56db\u534a\u671f\u6c7a\u7b97\u306eEPS\uff081\u682a\u5f53\u305f\u308a\u5229\u76ca\uff09\u3092\u3069\u308c\u3060\u3051\u62bc\u3057\u4e0b\u3052\u308b\u304b\u691c\u8a3c\u304c\u9032\u307f\u307e\u3059\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u9006\u30a4\u30fc\u30eb\u30c9\uff08\u9577\u77ed\u91d1\u5229\u9006\u8ee2\uff09\u306e\u89e3\u6d88\u3068\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\uff08\u666f\u6c17\u5f8c\u9000\uff09\u30b5\u30a4\u30f3\uff1a<\/b><span style=\"font-weight: 400;\"> 2\u5e74\u50b5\u5229\u56de\u308a\u306810\u5e74\u50b5\u5229\u56de\u308a\u306e\u95a2\u4fc2\u304c\u6b63\u5e38\u5316\uff08\u30a2\u30f3\u30d0\u30fc\u30c6\u30a3\u30f3\u30b0\uff09\u3059\u308b\u904e\u7a0b\u3067\u3001\u904e\u53bb\u306e\u6b74\u53f2\u3067\u306f\u9ad8\u3044\u78ba\u7387\u3067\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\u304c\u767a\u751f\u3057\u3066\u3044\u307e\u3059\u3002\u500b\u4eba\u6d88\u8cbb\u3084\u96c7\u7528\u7d71\u8a08\u306e\u60aa\u5316\u304c\u4e2d\u671f\u7684\u306a\u7126\u70b9\u3067\u3059\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u682a\u4fa1\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u8abf\u6574\uff08PER\u306e\u9069\u6b63\u5316\uff09\uff1a<\/b><span style=\"font-weight: 400;\"> S&amp;P500\u3084\u30ca\u30b9\u30c0\u30c3\u30af\u306ePER\u304c\u6b74\u53f2\u7684\u5e73\u5747\uff0816\u301c18\u500d\u7a0b\u5ea6\uff09\u307e\u3067\u5207\u308a\u4e0b\u304c\u308b\u304b\u3069\u3046\u304b\u304c\u3001\u4e2d\u671f\u7684\u306a\u5e95\u6253\u3061\u306e\u6761\u4ef6\u3068\u306a\u308a\u307e\u3059\u3002<\/span><\/li>\n<\/ul>\n<h3><b>3. \u9577\u671f\u7684\u306a\u6ce8\u76ee\u70b9\uff083\u5e74\u4ee5\u4e0a\uff09<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u300cHigher for Longer\uff08\u9ad8\u91d1\u5229\u306e\u9577\u671f\u5316\uff09\u300d\u3078\u306e\u69cb\u9020\u5909\u5316\uff1a<\/b><span style=\"font-weight: 400;\"> \u30bc\u30ed\u91d1\u5229\u30fb\u4f4e\u91d1\u5229\u306b\u983c\u3063\u305f\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u306f\u6dd8\u6c70\u3055\u308c\u3001\u81ea\u529b\u3067\u5341\u5206\u306a\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u307f\u51fa\u305b\u308b\u5065\u5168\u4f01\u696d\u304c\u751f\u304d\u6b8b\u308b\u6642\u4ee3\u3078\u3068\u79fb\u884c\u3057\u307e\u3059\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u6b74\u53f2\u7684\u5927\u5e95\uff08\u7d76\u597d\u306e\u4ed5\u8fbc\u307f\u6642\uff09\u306e\u5230\u6765\uff1a<\/b><span style=\"font-weight: 400;\"> \u91d1\u5229\u4e0a\u6607\u306b\u3088\u308b\u904e\u5ea6\u306a\u682a\u5f0f\u306e\u58f2\u5374\u306f\u3001\u9577\u671f\u7684\u8996\u70b9\u306b\u7acb\u3064\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u300c\u6975\u3081\u3066\u8cea\u306e\u9ad8\u3044\u512a\u826f\u4f01\u696d\u3092\u5272\u5b89\u3067\u8cb7\u3048\u308b\u5343\u8f09\u4e00\u9047\u306e\u30c1\u30e3\u30f3\u30b9\u300d\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u30a2\u30bb\u30c3\u30c8\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\uff08\u8cc7\u7523\u914d\u5206\uff09\u306e\u518d\u69cb\u7bc9\uff1a<\/b><span style=\"font-weight: 400;\"> \u904e\u53bb10\u5e74\u9593\u6a5f\u80fd\u3057\u306b\u304f\u304b\u3063\u305f\u300c\u682a\u5f0f60%\uff1a\u50b5\u523840%\u300d\u306e\u3088\u3046\u306a\u4f1d\u7d71\u7684\u5206\u6563\u6295\u8cc7\u30e2\u30c7\u30eb\u304c\u3001\u9ad8\u5229\u56de\u308a\u50b5\u5238\u306e\u5b58\u5728\u306b\u3088\u308a\u518d\u3073\u9ad8\u3044\u6709\u52b9\u6027\u3092\u767a\u63ee\u3057\u307e\u3059\u3002<\/span><\/li>\n<\/ul>\n<blockquote>\n<p>\u5931\u6557\u3092\u306a\u308b\u3079\u304f\u6e1b\u3089\u3057\u682a\u5f0f\u6295\u8cc7\u3067\u6210\u529f\u3059\u308b\u305f\u3081\u306b\u306f\u3068\u306b\u304b\u304f\u52c9\u5f37\u304c\u5fc5\u8981\u3067\u3059\u3002<br \/>\n\u52c9\u5f37\u3059\u308b\u65b9\u6cd5\u306f\u8272\u3005\u3042\u308a\u307e\u3059\u304c\u3001\u682a\u5f0f\u6295\u8cc7\u306b\u7cbe\u901a\u3057\u305f\u30bb\u30df\u30ca\u30fc\u306b\u53c2\u52a0\u3059\u308b\u306e\u3082\u3072\u3068\u3064\u306e\u624b\u3067\u3059\u3002<\/p>\n<p><span style=\"font-size: 16px; color: #333333;\">\u304a\u3059\u3059\u3081\u306e\u30bb\u30df\u30ca\u30fc\u3068\u3057\u3066\u79c1\u305f\u3061GFS\u304c\u7121\u6599\u516c\u958b\u3057\u3066\u3044\u308b<a href=\"https:\/\/toushi-up.com\/ow\/05.html?argument=XJhet6w1&amp;dmai=a61fa3c06f5c63\">\u300c<\/a><\/span><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\" target=\"_blank\" rel=\"noopener\">\u6295\u8cc7\u306e\u9054\u4eba\u8b1b\u5ea7<\/a>\u300d\u3092\u3054\u7d39\u4ecb\u3057\u307e\u3059\u3002<br \/>\n\u300c\u6295\u8cc7\u306e\u9054\u4eba\u8b1b\u5ea7\u300d\u306b\u53c2\u52a0\u3059\u308b\u3053\u3068\u3067\u4e0b\u8a18\u306e\u3088\u3046\u306a\u5185\u5bb9\u3092\u5b66\u3076\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<div class=\"attention a-2\">\n<ul>\n<li>100\u4e07\u5186\u3067\u3082\u52dd\u7387\u306e\u9ad8\u3044\u682a\u5f0f\u6295\u8cc7\u624b\u6cd5<\/li>\n<li>\u5b9f\u7e3e\u3042\u308b\u30d7\u30ed\u306e\u682a\u5f0f\u6295\u8cc7\u5bb6\u306e\u8003\u3048\u65b9\u3084\u6226\u7565<\/li>\n<li>\u682a\u5f0f\u6295\u8cc7\u306e\u5931\u6557\u3092\u6e1b\u3089\u3059\u7acb\u3061\u307e\u308f\u308a\u65b9<\/li>\n<\/ul>\n<\/div>\n<p>\u4e0a\u8a18\u306f\u307b\u3093\u306e\uff11\u4f8b\u3067\u3059\u304c\u3001\u4ed6\u306b\u3082\u682a\u5f0f\u6295\u8cc7\u306b\u5f79\u7acb\u3064\u77e5\u8b58\u304c\u6570\u591a\u304f\u5b66\u3079\u307e\u3059\u3002\u682a\u5f0f\u6295\u8cc7\u3067\u6210\u529f\u3059\u308b\u306b\u306f\u682a\u306e\u672c\u8cea\u3092\u5b66\u3076\u3053\u3068\u304c\u4e00\u756a\u306e\u8fd1\u9053\u3067\u3059\u3002\u6b63\u3057\u3044\u77e5\u8b58\u3092\u8eab\u306b\u3064\u3051\u3001\u682a\u5f0f\u6295\u8cc7\u3067\u3057\u3063\u304b\u308a\u3068\u5229\u76ca\u3092\u51fa\u3057\u3066\u3044\u304f\u305f\u3081\u306b\u3001\u305c\u3072\u3054\u8996\u8074\u304f\u3060\u3055\u3044\u3002<\/p>\n<\/blockquote>\n<h2><b>\u7b2c5\u7ae0\uff1a\u91d1\u5229\u9ad8\u9a30\u5c40\u9762\u3067\u300c\u7d76\u5bfe\u306b\u3084\u3063\u3066\u306f\u3044\u3051\u306a\u3044\u3053\u3068\u300d<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">\u5e02\u5834\u304c\u8352\u308c\u3066\u3044\u308b\u6642\u671f\u306b\u7126\u3063\u3066\u884c\u52d5\u3059\u308b\u3068\u3001\u4e0d\u53ef\u9006\u7684\u306a\u8cc7\u7523\u640d\u5931\u3092\u62db\u304d\u307e\u3059\u3002\u4ee5\u4e0b\u306e4\u9805\u76ee\u306f\u3001\u500b\u4eba\u6295\u8cc7\u5bb6\u304c\u7d76\u5bfe\u306b\u907f\u3051\u308b\u3079\u304d\u884c\u52d5\u3067\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li><strong> \u6050\u6016\u306b\u99c6\u3089\u308c\u305f\u300c\u30d1\u30cb\u30c3\u30af\u58f2\u308a\uff08\u72fc\u72fd\u58f2\u308a\uff09\u300d<\/strong><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">\u4fdd\u6709\u3057\u3066\u3044\u308b\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u30d5\u30a1\u30f3\u30c9\uff08S&amp;P500\u3084\u30aa\u30fc\u30eb\u30fb\u30ab\u30f3\u30c8\u30ea\u30fc\u306a\u3069\uff09\u3084\u512a\u826f\u4f01\u696d\u306e\u682a\u5f0f\u3092\u3001\u682a\u4fa1\u304c\u4e0b\u843d\u3057\u3066\u3044\u308b\u6700\u4e2d\u306b\u58f2\u5374\u3059\u308b\u3053\u3068\u3067\u3059\u3002\u542b\u307f\u640d\u306f\u58f2\u5374\u3057\u305f\u77ac\u9593\u306b\u300c\u78ba\u5b9a\u640d\u5931\u300d\u3068\u306a\u308a\u3001\u5c06\u6765\u306e\u5e02\u5834\u56de\u5fa9\u306b\u3088\u308b\u30ea\u30bf\u30fc\u30f3\u3092\u5b8c\u5168\u306b\u653e\u68c4\u3059\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol start=\"2\">\n<li><strong> \u4fe1\u7528\u53d6\u5f15\u3084\u30ec\u30d0\u30ec\u30c3\u30b8\u578b\u5546\u54c1\u3067\u306e\u300c\u5b89\u6613\u306a\u9006\u5f35\u308a\u8cb7\u3044\u4e0b\u304c\u308a\u300d<\/strong><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">\u300c5%\u7a81\u7834\u306f\u4e00\u6642\u7684\u3060\u300d\u300c\u3059\u3050\u53cd\u767a\u3059\u308b\u300d\u3068\u904e\u4fe1\u3057\u3001\u4fe1\u7528\u53d6\u5f15\u30843\u500d\u30ec\u30d0\u30ec\u30c3\u30b8ETF\uff08SOXL\u3084TQQQ\u306a\u3069\uff09\u3067\u8cb7\u5897\u3057\u3092\u884c\u3046\u306e\u306f\u6975\u3081\u3066\u5371\u967a\u3067\u3059\u3002\u91d1\u5229\u9ad8\u9a30\u304c\u9577\u671f\u5316\u3057\u305f\u5834\u5408\u3001\u91d1\u5229\u30b3\u30b9\u30c8\u3068\u682a\u4fa1\u4e0b\u843d\u306e\u4e8c\u91cd\u82e6\u306b\u3088\u308a\u3001\u8ffd\u8a3c\uff08\u8ffd\u52a0\u4fdd\u8a3c\u91d1\uff09\u3084\u5f37\u5236\u30ed\u30b9\u30ab\u30c3\u30c8\u3067\u5168\u8ca1\u7523\u3092\u5931\u3046\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol start=\"3\">\n<li><strong> \u5358\u4e00\u9298\u67c4\u3084\u5358\u4e00\u30a2\u30bb\u30c3\u30c8\u3078\u306e\u96c6\u4e2d\u6295\u8cc7<\/strong><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">\u300c\u30cf\u30a4\u30c6\u30af\u682a\u3060\u3051\u306b\u5168\u8ca1\u7523\u3092\u6295\u3058\u308b\u300d\u300c\u91d1\u5229\u304c\u4e0a\u304c\u3063\u305f\u304b\u3089\u3068\u5168\u984d\u3092\u7279\u5b9a\u306e\u50b5\u5238\u306b\u5909\u3048\u308b\u300d\u3068\u3044\u3063\u305f\u6975\u7aef\u306a\u96c6\u4e2d\u6295\u8cc7\u306f\u907f\u3051\u308b\u3079\u304d\u3067\u3059\u3002\u3069\u306e\u8cc7\u7523\u304c\u3044\u3064\u5e95\u3092\u6253\u3064\u304b\u3092\u6b63\u78ba\u306b\u4e88\u6e2c\u3059\u308b\u3053\u3068\u306f\u30d7\u30ed\u3067\u3082\u4e0d\u53ef\u80fd\u3067\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol start=\"4\">\n<li><strong> \u8fd1\u3044\u5c06\u6765\uff083\u301c5\u5e74\u4ee5\u5185\uff09\u306b\u4f7f\u3046\u4e88\u5b9a\u306e\u304a\u91d1\u3092\u6295\u8cc7\u306b\u56de\u3059\u3053\u3068<\/strong><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">\u4f4f\u5b85\u8cfc\u5165\u306e\u982d\u91d1\u3001\u6559\u80b2\u8cc7\u91d1\u3001\u751f\u6d3b\u9632\u885b\u8cc7\u91d1\u306a\u3069\u3001\u8fd1\u3005\u5fc5\u8981\u3068\u306a\u308b\u8cc7\u91d1\u3092\u76f8\u5834\u306b\u6295\u3058\u3066\u306f\u3044\u3051\u307e\u305b\u3093\u3002\u91d1\u5229\u4e0a\u6607\u306b\u3088\u308b\u8abf\u6574\u304c\u9577\u671f\u5316\u3057\u305f\u969b\u3001\u73fe\u91d1\u5316\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u3092\u9078\u3079\u305a\u3001\u6700\u60aa\u306e\u5b89\u5024\u3067\u89e3\u7d04\u305b\u3056\u308b\u3092\u5f97\u306a\u304f\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>\u7b2c6\u7ae0\uff1a\u521d\u5fc3\u8005\u306e\u305f\u3081\u306e\u91d1\u878d\u30fb\u6295\u8cc7\u77e5\u8b58\u306e\u91cd\u8981\u6027<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">\u5e02\u5834\u304c\u6fc0\u52d5\u3059\u308b\u5c40\u9762\u3067\u3001\u6295\u8cc7\u5bb6\u3092\u6050\u6016\u304b\u3089\u5b88\u308a\u3001\u9069\u5207\u306a\u5224\u65ad\u3078\u3068\u5c0e\u304f\u552f\u4e00\u306e\u9053\u306f<\/span><b>\u300c\u6b63\u3057\u304f\u4f53\u7cfb\u5316\u3055\u308c\u305f\u91d1\u878d\u77e5\u8b58\u300d<\/b><span style=\"font-weight: 400;\">\u3067\u3059\u3002<\/span><\/p>\n<h3><b>1. \u91d1\u5229\u306f\u5e02\u5834\u306e\u300c\u91cd\u529b\u300d\u301c\u77e5\u8b58\u304c\u3042\u308c\u3070\u30cb\u30e5\u30fc\u30b9\u304c\u7acb\u4f53\u7684\u306b\u898b\u3048\u308b\u301c<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u91d1\u878d\u77e5\u8b58\u304c\u306a\u3044\u72b6\u614b\u3067\u306f\u3001\u300c\u91d1\u52295%\u7a81\u7834\u300d\u3068\u3044\u3046\u30cb\u30e5\u30fc\u30b9\u3092\u805e\u3044\u3066\u3082\u300c\u682a\u304c\u4e0b\u304c\u3063\u3066\u6016\u3044\u300d\u3068\u3044\u3046\u611f\u60c5\u7684\u53cd\u5fdc\u3057\u304b\u3067\u304d\u307e\u305b\u3093\u3002\u3057\u304b\u3057\u3001\u77e5\u8b58\u304c\u3042\u308c\u3070\u300c\u539f\u6cb9\u9ad8\u2192\u30a4\u30f3\u30d5\u30ec\u61f8\u5ff5\u2192FRB\u5229\u4e0a\u3052\u89b3\u6e2c\u2192\u5272\u5f15\u7387\u4e0a\u6607\u2192\u682a\u4fa1PER\u8abf\u6574\u300d\u3068\u3044\u3046\u8ad6\u7406\u7684\u306a\u9023\u9396\u304c\u7406\u89e3\u3067\u304d\u307e\u3059\u3002\u4ed5\u7d44\u307f\u304c\u5206\u304b\u308c\u3070\u3001\u6b21\u306b\u3069\u306e\u6307\u6a19\u3092\u898b\u308c\u3070\u3088\u3044\u304b\u3001\u3069\u306e\u3088\u3046\u306a\u8cc7\u7523\u914d\u5206\u3092\u3068\u308b\u3079\u304d\u304b\u304c\u81ea\u305a\u3068\u898b\u3048\u3066\u304d\u307e\u3059\u3002<\/span><\/p>\n<h3><b>2. \u30a4\u30f3\u30d5\u30ec\u6642\u4ee3\u306b\u304a\u3051\u308b\u300c\u73fe\u91d1\u30fb\u9810\u91d1\u300d\u306e\u96a0\u308c\u305f\u30ea\u30b9\u30af<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u91d1\u5229\u304c\u4e0a\u304c\u308a\u30a4\u30f3\u30d5\u30ec\u304c\u9032\u884c\u3059\u308b\u74b0\u5883\u4e0b\u3067\u306f\u3001\u9280\u884c\u53e3\u5ea7\u306b\u73fe\u91d1\u3092\u653e\u7f6e\u3057\u3066\u304a\u304f\u3053\u3068\u3082\u30ea\u30b9\u30af\uff08\u8cfc\u8cb7\u529b\u306e\u76ee\u6e1b\u308a\uff09\u3068\u306a\u308a\u307e\u3059\u3002\u7269\u4fa1\u304c\u5e743%\u4e0a\u6607\u3059\u308b\u5834\u5408\u3001\u91d1\u5229\u304c\u307b\u3068\u3093\u3069\u3064\u304b\u306a\u3044\u73fe\u91d1\u306e\u5b9f\u8cea\u4fa1\u5024\u306f\u6bce\u5e74\u4e0b\u304c\u3063\u3066\u3044\u304d\u307e\u3059\u3002\u682a\u5f0f\u3084\u50b5\u5238\u3001\u30ea\u30a2\u30eb\u30a2\u30bb\u30c3\u30c8\u3078\u306e\u9069\u5207\u306a\u5206\u6563\u6295\u8cc7\u306f\u3001\u8cc7\u7523\u3092\u5b88\u308b\u305f\u3081\u306b\u4e0d\u53ef\u6b20\u306a\u9632\u885b\u7b56\u3067\u3059\u3002<\/span><\/p>\n<h3><b>3. 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