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Deficit And Price Dynamics<\/h3>\n\n<p>\u9280\u5e02\u5834\u306f\u6301\u7d9a\u7684\u306a\u69cb\u9020\u7684\u4f9b\u7d66\u4e0d\u8db3\u306b\u3088\u3063\u3066\u7279\u5fb4\u4ed8\u3051\u3089\u308c\u3066\u304a\u308a\u3001\u73fe\u5728\u30676\u5e74\u9023\u7d9a\u3068\u306a\u3063\u3066\u3044\u308b\u30021\u6708\u306b120\u30c9\u30eb\u8d85\u3078\u6025\u9a30\u3057\u3001\u305d\u306e\u5f8c\u306b\u8abf\u6574\u3057\u305f\u5f8c\u3001\u4fa1\u683c\u306f74.50\u30c9\u30eb\u8fd1\u8fba\u3067\u4e0b\u3052\u6b62\u307e\u308a\u611f\u304c\u51fa\u3066\u3044\u308b\u3002\u3053\u306e\u5b89\u5b9a\u3092\u5f31\u3055\u3067\u306f\u306a\u304f\u3001\u9700\u7d66\u306e\u903c\u8feb\u3068\u3044\u3046\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u30ba\u306b\u8d77\u56e0\u3059\u308b\u3001\u5c06\u6765\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u62e1\u5927\u306b\u5411\u3051\u305f\u300c\u30d9\u30fc\u30b9\u5f62\u6210\u300d\u3068\u898b\u3066\u3044\u308b\u3002<\/p>\n\n<p>\u4f9b\u7d66\u9762\u306f\u5f15\u304d\u7d9a\u304d\u6700\u5927\u306e\u61f8\u5ff5\u6750\u6599\u3067\u3001\u4e16\u754c\u306e\u9280\u306e\u534a\u5206\u8d85\u304c\u30e1\u30ad\u30b7\u30b3\u3001\u30da\u30eb\u30fc\u3001\u4e2d\u56fd\u306b\u4f9d\u5b58\u3057\u3066\u3044\u308b\u3002\u7279\u306b\u3001\u4e16\u754c\u4f9b\u7d66\u306b\u304a\u3051\u308b\u91cd\u8981\u6027\u304c\u5897\u3057\u3066\u3044\u308b\u30da\u30eb\u30fc\u306e\u9271\u5c71\u30bb\u30af\u30bf\u30fc\u306b\u304a\u3051\u308b\u52b4\u4f7f\u4ea4\u6e09\u306e\u52d5\u5411\u3092\u6ce8\u8996\u3057\u3066\u3044\u308b\u3002\u5317\u7c73\u306e\u751f\u7523\u304c\u65e2\u306b10\u5e74\u3076\u308a\u306e\u4f4e\u6c34\u6e96\u306b\u3042\u308b\u3053\u3068\u3092\u8e0f\u307e\u3048\u308b\u3068\u3001\u540c\u56fd\u3067\u306e\u6df7\u4e71\u306f\u4fa1\u683c\u306b\u904e\u5927\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u304b\u306d\u306a\u3044\u3002<\/p>\n\n<h3>Industrial Demand, Volatility, And Portfolio Strategy<\/h3>\n\n<p>\u7523\u696d\u9700\u8981\u306f\u5f15\u304d\u7d9a\u304d\u4f9b\u7d66\u306e\u5927\u304d\u306a\u90e8\u5206\u3092\u5438\u53ce\u3057\u3066\u304a\u308a\u3001\u3068\u308a\u308f\u3051\u30b0\u30ea\u30fc\u30f3\u30a8\u30cd\u30eb\u30ae\u30fc\u79fb\u884c\u304c\u727d\u5f15\u5f79\u3068\u306a\u3063\u3066\u3044\u308b\u3002\u4e16\u754c\u306e\u592a\u967d\u5149\u30d1\u30cd\u30eb\u8a2d\u7f6e\u306f2026\u5e74\u306b15%\u5897\u3068\u306a\u308b\u898b\u901a\u3057\u3067\u3001\u65e2\u306b\u903c\u8feb\u3057\u3066\u3044\u308b\u5728\u5eab\u3092\u4e00\u6bb5\u3068\u53d6\u308a\u5d29\u3059\u6d41\u308c\u306b\u306a\u308b\u3002\u3053\u3046\u3057\u305f\u5f37\u304f\u4fa1\u683c\u5f3e\u529b\u6027\u306e\u4f4e\u3044\u9700\u8981\u306f\u3001\u5e02\u5834\u306b\u5805\u56fa\u306a\u4e0b\u5024\u3092\u63d0\u4f9b\u3057\u3001\u4e0b\u632f\u308c\u30ea\u30b9\u30af\u3092\u9650\u5b9a\u3059\u308b\u3002<\/p>\n\n<p>\u3053\u308c\u3089\u306e\u8981\u56e0\u3092\u8e0f\u307e\u3048\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u4e0a\u6607\u5c40\u9762\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002\u30b7\u30eb\u30d0\u30fc\u30fb\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\uff08VXSLV\uff09\u306f\u8db3\u5143\u306735\u3068\u9ad8\u6c34\u6e96\u306b\u3042\u308b\u3002\u3053\u308c\u306b\u5bfe\u3057\u3001\u6e80\u671f\u307e\u3067\u306e\u671f\u9593\u304c\u9577\u3044\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u8cfc\u5165\u3059\u308b\u3053\u3068\u3067\u5bfe\u5fdc\u3057\u3066\u304a\u308a\u3001\u5177\u4f53\u7684\u306b\u306f\u7b2c4\u56db\u534a\u671f\u7d42\u76e4\u306b\u6e80\u671f\u3092\u8fce\u3048\u3001\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u304c85\u30c9\u30eb\u8d85\u306e\u3082\u306e\u3092\u691c\u8a0e\u3057\u3066\u3044\u308b\u3002\u3053\u306e\u6226\u7565\u306f\u3001\u8352\u3044\u5024\u52d5\u304d\u306e\u5e02\u5834\u3067\u30ea\u30b9\u30af\u3092\u9650\u5b9a\u3057\u3064\u3064\u3001\u5927\u5e45\u4e0a\u6607\u5c40\u9762\u3078\u306e\u53c2\u52a0\u3092\u53ef\u80fd\u306b\u3059\u308b\u3002<\/p>\n\n<p>\u73fe\u7269\u5728\u5eab\u306e\u53d6\u308a\u5d29\u3057\u304c\u9032\u3093\u3067\u3044\u308b\u3053\u3068\u3067\u3001\u5e02\u5834\u306f1980\u5e74\u306e\u8cb7\u3044\u5360\u3081\u5c40\u9762\u3067\u898b\u3089\u308c\u305f\u3088\u3046\u306a\u6d41\u52d5\u6027\u903c\u8feb\u306b\u975e\u5e38\u306b\u5f31\u3044\u72b6\u614b\u306b\u3042\u308b\u3002ETP\u3078\u306e\u6295\u8cc7\u8cc7\u91d1\u304c\u518d\u3073\u6d41\u5165\u3059\u308c\u3070\u3001\u5229\u7528\u53ef\u80fd\u306a\u73fe\u7269\u4f9b\u7d66\u3092\u6025\u901f\u306b\u4e0a\u56de\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u305d\u306e\u305f\u3081\u3001\u4eca\u5f8c\u6570\u30ab\u6708\u306b\u8d77\u3053\u308a\u5f97\u308b\u6025\u6fc0\u304b\u3064\u7a81\u767a\u7684\u306a\u4fa1\u683c\u30b9\u30d1\u30a4\u30af\u3092\u6349\u3048\u308b\u3053\u3068\u306b\u6226\u7565\u306e\u4e3b\u773c\u3092\u7f6e\u3044\u3066\u3044\u308b\u3002<\/p>\n\n\n<p><b>\u4eca\u3059\u3050\u53d6\u5f15\u3092\u59cb\u3081\u307e\u3057\u3087\u3046 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