{"id":46919,"date":"2026-05-14T12:13:07","date_gmt":"2026-05-14T12:13:07","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/46919\/"},"modified":"2026-05-14T12:13:07","modified_gmt":"2026-05-14T12:13:07","slug":"%e7%b1%b3%e7%94%9f%e7%94%a3%e8%80%85%e7%89%a9%e4%be%a1%e6%8c%87%e6%95%b0%ef%bc%88ppi%ef%bc%89%e3%80%81%e3%82%a8%e3%83%8d%e3%83%ab%e3%82%ae%e3%83%bc%e4%b8%bb%e5%b0%8e%e3%81%ae%e3%82%a4%e3%83%b3","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/jp-asia\/live-updates\/46919\/","title":{"rendered":"\u7c73\u751f\u7523\u8005\u7269\u4fa1\u6307\u6570\uff08PPI\uff09\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u4e3b\u5c0e\u306e\u30a4\u30f3\u30d5\u30ec\u30676\uff05\u306b\u4e0a\u6607\u3000\u5229\u56de\u308a\u4e0a\u6607\u30fb\u30c9\u30eb\u9ad8\u3001\u5186\u5b89\u5727\u529b\u3082"},"content":{"rendered":"

\u7c73\u56fd\u306e4\u6708\u306e\u751f\u7523\u8005\u7269\u4fa1\u6307\u6570\uff08PPI\u3001\u4f01\u696d\u304c\u51fa\u8377\u3059\u308b\u6bb5\u968e\u306e\u7269\u4fa1\u52d5\u5411\u3092\u793a\u3059\u6307\u6a19\uff09\u306f\u524d\u5e74\u540c\u6708\u6bd46%\u4e0a\u6607\u3057\u30012022\u5e74\u4ee5\u6765\u306e\u9ad8\u3044\u4f38\u3073\u3068\u306a\u3063\u305f\u3002\u5e02\u5834\u4e88\u60f3\u3082\u4e0a\u56de\u3063\u305f\u3002\u6226\u4e89\u306b\u95a2\u9023\u3057\u305f\u30a8\u30cd\u30eb\u30ae\u30fc\u30b3\u30b9\u30c8\u306e\u4e0a\u6607\u304c\u8f38\u9001\u30b3\u30b9\u30c8\uff08\u904b\u8cc3\uff09\u306b\u6ce2\u53ca\u3057\u305f\u3002<\/p>\n

\u6d88\u8cbb\u8005\u7269\u4fa1\u6307\u6570\uff08CPI\u3001\u5bb6\u8a08\u304c\u8cfc\u5165\u3059\u308b\u5546\u54c1\u30fb\u30b5\u30fc\u30d3\u30b9\u306e\u7269\u4fa1\u52d5\u5411\uff09\u3068PPI\u306e\u4e0a\u632f\u308c\u3092\u53d7\u3051\u3001\u30c8\u30ec\u30fc\u30c0\u30fc\u306f\u4eca\u5f8c1\u5e74\u306e\u7c73\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u7406\u4e8b\u4f1a\uff08FRB\uff09\u306e\u8ffd\u52a0\u5229\u4e0a\u3052\u898b\u901a\u3057\u3092\u7d0420bp\uff08\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\uff1d0.01%\uff09\u4e0a\u7a4d\u307f\u3057\u305f\u3002\u7c7310\u5e74\u56fd\u50b5\u5229\u56de\u308a\u306f7\u6708\u4ee5\u6765\u306e\u9ad8\u6c34\u6e96\u3068\u306a\u308a\u3001\u7c7330\u5e74\u56fd\u50b5\u5229\u56de\u308a\u306f5%\u3067\u53d6\u5f15\u3055\u308c\u305f\u3002<\/p>\n

Fed Policy Repricing<\/h3>\n

\u30dc\u30b9\u30c8\u30f3\u9023\u9280\u306e\u30b9\u30fc\u30b6\u30f3\u30fb\u30b3\u30ea\u30f3\u30ba\u7dcf\u88c1\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u5727\u529b\u304c\u5e45\u5e83\u3044\u5206\u91ce\u306b\u5e83\u304c\u308b\u5834\u5408\u3001\u8ffd\u52a0\u306e\u5229\u4e0a\u3052\u304c\u5fc5\u8981\u3068\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u8ff0\u3079\u305f\u3002\u307e\u305f\u3001\u4eca\u56de\u306e\u30b7\u30e7\u30c3\u30af\u306b\u3088\u3063\u3066\u3001\u57fa\u8abf\u7684\u306a\u30a4\u30f3\u30d5\u30ec\uff08\u77ed\u671f\u7684\u306a\u8981\u56e0\u3092\u306a\u3089\u3057\u305f\u7269\u4fa1\u306e\u57fa\u8abf\uff09\u304c\u306a\u304a\u4f4e\u4e0b\u57fa\u8abf\u306b\u3042\u308b\u3053\u3068\u3092\u793a\u3059\u6750\u6599\u304c\u898b\u3048\u306b\u304f\u304f\u306a\u3063\u3066\u3044\u308b\u3068\u3082\u8a9e\u3063\u305f\u3002<\/p>\n

\u7c73\u30c9\u30eb\u306f3\u55b6\u696d\u65e5\u7d9a\u4f38\u3002\u5186\u306f1\u30c9\u30eb=157.88\u5186\u307e\u3067\u4e0b\u843d\u3057\u30015\u67086\u65e5\u306e\u9ad8\u5024157.94\u5186\u306b\u8fd1\u3065\u3044\u305f\u3002<\/p>\n

\u7c73\u682a\u306f\u30a4\u30f3\u30d5\u30ec\u6307\u6a19\u3092\u53d7\u3051\u3066\u3082\u6982\u306d\u6a2a\u3070\u3044\u3067\u3001S&P500\u7a2e\u3068\u30ca\u30b9\u30c0\u30c3\u30af\u7dcf\u5408\u306f\u6c34\u66dc\u65e5\u306b\u904e\u53bb\u6700\u9ad8\u5024\u3067\u5f15\u3051\u305f\u3002\u30b7\u30b9\u30b3\u682a\u306f\u3001\u6c7a\u7b97\u304c\u5e02\u5834\u4e88\u60f3\u3092\u4e0a\u56de\u308a\u3001\u5148\u884c\u304d\u898b\u901a\u3057\uff08\u30ac\u30a4\u30c0\u30f3\u30b9\uff09\u3092\u4e0a\u65b9\u4fee\u6b63\u3057\u305f\u3046\u3048\u3001AI\uff08\u4eba\u5de5\u77e5\u80fd\uff09\u95a2\u9023\u9700\u8981\u306e\u7d99\u7d9a\u3082\u8ffd\u3044\u98a8\u3068\u306a\u308a\u300115%\u6025\u4f38\u3057\u305f\u3002<\/p>\n

Derivatives Hedging Strategy<\/h3>\n

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\u30c9\u30eb\u9ad8\u306f\u5bfe\u5186\u3067\u7279\u306b\u76ee\u7acb\u3061\u3001\u5186\u306f158\u5186\u53f0\u306b\u8fd1\u3065\u3044\u305f\u3002\u904e\u53bb\u306e\u4f8b\u3067\u306f\u30012024\u5e74\u5f8c\u534a\u306b\u65e5\u672c\u304c\u81ea\u56fd\u901a\u8ca8\u3092\u652f\u3048\u308b\u305f\u3081\u306b590\u5104\u30c9\u30eb\u8d85\u3092\u6295\u3058\u305f\u70ba\u66ff\u4ecb\u5165\u304c\u3042\u308a\u3001152\u5186\u3088\u308a\u5186\u5b89\u306e\u6c34\u6e96\u3067\u306f\u5f53\u5c40\u306e\u8b66\u6212\u611f\u304c\u9ad8\u307e\u308a\u3084\u3059\u3044\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u7c73\u30c9\u30eb\/\u5186\u306e\u8cb7\u3044\u6301\u3061\uff08\u30ed\u30f3\u30b0\uff09\u3067\u306f\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\uff08\u5c06\u6765\u306e\u58f2\u8cb7\u3092\u3042\u3089\u304b\u3058\u3081\u6c7a\u3081\u305f\u6761\u4ef6\u3067\u884c\u3046\u6a29\u5229\uff09\u3092\u4f7f\u3063\u3066\u640d\u5931\u306e\u4e0a\u9650\u3092\u3042\u3089\u304b\u3058\u3081\u9650\u5b9a\u3059\u308b\u3053\u3068\u304c\u6709\u52b9\u3060\u3002\u4e2d\u9280\u306e\u52d5\u304d\u3067\u5229\u76ca\u304c\u7a81\u7136\u6291\u3048\u3089\u308c\u308b\uff08\u4e0a\u5024\u304c\u6291\u3048\u3089\u308c\u308b\uff09\u53ef\u80fd\u6027\u304c\u3042\u308b\u305f\u3081\u3067\u3042\u308b\u3002<\/p>\n

\u6628\u5e74\u7279\u306b\u76ee\u7acb\u3063\u305f\u306e\u306f\u3001\u682a\u5f0f\u3068\u50b5\u5238\u306e\u52d5\u304d\u304c\u304b\u307f\u5408\u308f\u306a\u304b\u3063\u305f\u70b9\u3060\u3002\u50b5\u5238\u5229\u56de\u308a\u304c\u6025\u4e0a\u6607\u3059\u308b\u4e00\u65b9\u3067\u3001S&P500\u3068\u30ca\u30b9\u30c0\u30c3\u30af\u306f\u904e\u53bb\u6700\u9ad8\u5024\u3092\u66f4\u65b0\u3057\u305f\u3002\u80cc\u666f\u306b\u306f\u3001\u5de8\u5927\u30c6\u30c3\u30af\u4f01\u696d\u306e\u597d\u6c7a\u7b97\u3068AI\u3092\u5de1\u308b\u5f37\u3044\u671f\u5f85\u304c\u3042\u3063\u305f\u3002\u73fe\u6642\u70b9\u3067\u306f\u3001\u5f37\u3044\u666f\u6c17\u30fb\u6210\u9577\u30b9\u30c8\u30fc\u30ea\u30fc\u304c\u3001\u91d1\u5229\u4e0a\u6607\u306b\u4f34\u3046\u682a\u4fa1\u306e\u5272\u9ad8\u611f\u3068\u3044\u3063\u305f\u5f93\u6765\u306e\u61f8\u5ff5\u3092\u4e0a\u56de\u308a\u5f97\u308b\u3053\u3068\u3092\u793a\u3057\u3066\u3044\u308b\u3002<\/p>\n

\u3053\u306e\u7d4c\u9a13\u3092\u8e0f\u307e\u3048\u308b\u3068\u3001\u30c8\u30ec\u30fc\u30c0\u30fc\u306f\u518d\u3073\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff08\u4fa1\u683c\u5909\u52d5\u306e\u5927\u304d\u3055\uff09\u304c\u6025\u4e0a\u6607\u3059\u308b\u5834\u9762\u306b\u5099\u3048\u3001\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\uff08\u5148\u7269\u30fb\u30aa\u30d7\u30b7\u30e7\u30f3\u306a\u3069\u306e\u6d3e\u751f\u5546\u54c1\uff09\u3092\u6d3b\u7528\u3057\u305f\u30dd\u30b8\u30b7\u30e7\u30f3\u69cb\u7bc9\u304c\u6c42\u3081\u3089\u308c\u308b\u3002\u9577\u671f\u50b5\u306b\u9023\u52d5\u3059\u308bETF\u306e\u30d7\u30c3\u30c8\u30aa\u30d7\u30b7\u30e7\u30f3\uff08\u4e00\u5b9a\u4fa1\u683c\u3067\u58f2\u308b\u6a29\u5229\uff09\u3092\u8cb7\u3046\u3001\u307e\u305f\u306f\u7c7310\u5e74\u56fd\u50b5\u5148\u7269\u3092\u58f2\u308a\u6301\u3061\uff08\u30b7\u30e7\u30fc\u30c8\uff09\u306b\u3059\u308b\u3053\u3068\u3067\u3001\u6628\u5e74\u306e\u3088\u3046\u306a\u50b5\u5238\u6025\u843d\u3078\u306e\u76f4\u63a5\u7684\u306a\u30d8\u30c3\u30b8\u3068\u306a\u308b\u3002\u30a4\u30f3\u30d5\u30ec\u304c\u60f3\u5b9a\u4ee5\u4e0a\u306b\u7c98\u7740\u7684\uff08\u4e0b\u304c\u308a\u306b\u304f\u3044\uff09\u3068\u306a\u308b\u30ea\u30b9\u30af\u306b\u5099\u3048\u3089\u308c\u308b\u3002<\/p>\n

\u682a\u3068\u50b5\u5238\u306e\u52d5\u304d\u306e\u4e56\u96e2\u3092\u72d9\u3046\u306a\u3089\u3001\u30c9\u30eb\u6307\u6570\u306e\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\uff08\u4e00\u5b9a\u4fa1\u683c\u3067\u8cb7\u3046\u6a29\u5229\uff09\u3092\u8cb7\u3044\u3001\u30c9\u30eb\u9ad8\u306e\u9032\u884c\u3092\u53d6\u308a\u8fbc\u307f\u3064\u3064\u4e0b\u632f\u308c\u30ea\u30b9\u30af\u3092\u9650\u5b9a\u3059\u308b\u65b9\u6cd5\u304c\u3042\u308b\u3002\u540c\u6642\u306b\u3001\u30ca\u30b9\u30c0\u30c3\u30af100\u306e\u3088\u3046\u306a\u30c6\u30c3\u30af\u6bd4\u7387\u306e\u9ad8\u3044\u682a\u4fa1\u6307\u6570\u3067\u30b3\u30fc\u30eb\u30b9\u30d7\u30ec\u30c3\u30c9\uff08\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u306e\u7570\u306a\u308b\u30b3\u30fc\u30eb\u3092\u7d44\u307f\u5408\u308f\u305b\u3001\u30b3\u30b9\u30c8\u3092\u6291\u3048\u3064\u3064\u4e0a\u6607\u3092\u72d9\u3046\u624b\u6cd5\uff09\u3092\u7528\u3044\u308c\u3070\u3001\u8cbb\u7528\u3092\u6291\u3048\u306a\u304c\u3089\u682a\u9ad8\u306e\u6069\u6075\u3092\u5f97\u3084\u3059\u3044\u3002\u3053\u306e\u7d44\u307f\u5408\u308f\u305b\u306f\u3001\u7c73\u666f\u6c17\u306e\u5f37\u3055\u304c\u300cFRB\u306e\u5229\u4e0a\u3052\u5bc4\u308a\u59ff\u52e2\u300d\u3068\u300c\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u682a\u306e\u5e95\u5805\u3055\u300d\u3092\u540c\u6642\u306b\u751f\u3080\u30b7\u30ca\u30ea\u30aa\u306b\u5099\u3048\u308b\u6226\u7565\u3068\u306a\u308b\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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