{"id":6447,"date":"2018-11-17T10:24:00","date_gmt":"2018-11-17T01:24:00","guid":{"rendered":"https:\/\/finance-gfp.com\/?p=6447"},"modified":"2025-08-04T18:30:34","modified_gmt":"2025-08-04T09:30:34","slug":"%e4%b8%bb%e8%a6%81%e5%9b%bd%e3%81%aecds%e6%8e%a8%e7%a7%bb%ef%bc%88%e3%83%81%e3%83%a3%e3%83%bc%e3%83%88%e3%81%a8%e8%a7%a3%e8%aa%ac%ef%bc%89","status":"publish","type":"post","link":"https:\/\/finance-gfp.com\/?p=6447","title":{"rendered":"\u4e3b\u8981\u56fd\u306eCDS\u63a8\u79fb\uff08\u30c1\u30e3\u30fc\u30c8\u3068\u89e3\u8aac\uff09"},"content":{"rendered":"<p><span class=\"ymarker-s\">\u3053\u3061\u3089\u306e\u30da\u30fc\u30b8\u3067\u306f\u300cCDS\u306e\u6982\u8981\u300d\u3068\u300c\u4e3b\u8981\u56fd\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u30c1\u30e3\u30fc\u30c8\u300d\u3092\u63b2\u8f09\u3057\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p>\u4e3b\u8981\u56fd\u306e\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30b9\u30af\uff08\u4fe1\u7528\u30ea\u30b9\u30af\uff09\u3092\u78ba\u8a8d\u3059\u308b\u969b\u306b\u3054\u6d3b\u7528\u304f\u3060\u3055\u3044\u3002<\/p>\n<p>\u30a4\u30bf\u30ea\u30a2\u3084\u30b9\u30da\u30a4\u30f3\u306f\u5b9a\u671f\u7684\u306bCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u4e0a\u6607\u3057\u307e\u3059\u3002\u305d\u306e\u3088\u3046\u306a\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u306f\u56fd\u50b5\u3084\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30f3\u30af\u50b5\u306b\u6295\u8cc7\u3059\u308b\u826f\u3044\u6a5f\u4f1a\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u8a73\u7d30\u306f\u4e0b\u8a18\u3092\u3054\u89a7\u304f\u3060\u3055\u3044\u3002<\/p>\n\n<!-- WP 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[]).push({});\r\n<\/script><\/div>\n\n<p>\u307e\u305a\u6700\u521d\u306b\u300cCDS\u300d\u306b\u3064\u3044\u3066\u306e\u89e3\u8aac\u3067\u3059\u3002<\/p>\n<h2>CDS\uff08\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30c7\u30d5\u30a9\u30eb\u30c8\u30fb\u30b9\u30ef\u30c3\u30d7\uff09\u3068\u306f<\/h2>\n<p>\u300cCDS\u300d\u3068\u306f\u300cCredit default swap\uff08\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30c7\u30d5\u30a9\u30eb\u30c8\u30fb\u30b9\u30ef\u30c3\u30d7\uff09\u300d\u306e\u7565\u3067\u3001\u4f01\u696d\u3084\u56fd\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u30ea\u30b9\u30af\u3092\u5bfe\u8c61\u3068\u3059\u308b\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u306e\u4e00\u7a2e\u3067\u3059\u3002<\/p>\n<p><span class=\"ymarker-s\">CDS\u306f\u7c21\u5358\u306b\u8a00\u3046\u3068\u300c\u5bfe\u8c61\u5148\uff08\u4f01\u696d\u3084\u56fd\uff09\u304c\u7834\u7dbb\u3057\u305f\u6642\u306b\u5099\u3048\u308b\u4fdd\u967a\u300d\u306e\u3088\u3046\u306a\u3082\u306e\u3067\u3059\u3002<\/span><\/p>\n<p>CDS\u306e\u8cb7\u3044\u624b\u304c\u58f2\u308a\u624b\u306b\u30d7\u30ec\u30df\u30a2\u30e0\uff08CDS\u4fdd\u8a3c\u6599\uff09\u3092\u652f\u6255\u3044\u307e\u3059\u3002<\/p>\n<p>\u305d\u3057\u3066\u3001<span class=\"ymarker-s\">\u30d7\u30ec\u30df\u30a2\u30e0\uff08CDS\u4fdd\u8a3c\u6599\uff09\u306e\u6599\u7387\u306e\u3053\u3068\u3092\u300cCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u300d\u3068\u547c\u3093\u3067\u3044\u307e\u3059<\/span>\u3002\uff08\u901a\u5e38\u3001CDS\u304c\u3007\u3007\uff05\u3068\u8a00\u3063\u305f\u5834\u5408\u306f\u6b63\u78ba\u306b\u306fCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u3053\u3068\u3092\u8868\u3057\u307e\u3059\uff09<\/p>\n<p>\u30ea\u30b9\u30af\u304c\u9ad8\u3044\u5bfe\u8c61\u5148\uff08\u4f01\u696d\u3084\u56fd\uff09\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u9ad8\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<p><span class=\"ymarker-s\">\u4e0b\u8a18\u3067\u306f\u56fd\u306e\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30b9\u30af\uff08\u4fe1\u7528\u30ea\u30b9\u30af\uff09\u3092\u8868\u3059\u300c\u56fd\u5225\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u63a8\u79fb\u300d\u3092\u63b2\u8f09\u3057\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p>\u4f55\u3089\u304b\u306e\u8981\u56e0\u3067\u56fd\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u304c\u9ad8\u307e\u308b\u3068CDS\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u4e0a\u6607\u3057\u307e\u3059\u3002<\/p>\n<p>\u901a\u5e38\u3001CDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\uff08bps\uff09\u3067\u8868\u8a18\u3055\u308c\u307e\u3059\u3002\uff081bps=0.01\uff05\uff09<\/p>\n<p>\u307e\u305a\u306f\u3001\u7c73\u56fd\u30fb\u65e5\u672c\u30fb\u4e2d\u56fd\u30fb\u97d3\u56fd\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u30c1\u30e3\u30fc\u30c8\u3067\u3059\u3002<\/p>\n<h2>\u7c73\u56fd\u30fb\u65e5\u672c\u30fb\u4e2d\u56fd\u30fb\u97d3\u56fd\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u63a8\u79fb<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-23515\" src=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/037eb36af4a7a7da6c6f5447a25c0050.png\" alt=\"\u4e3b\u8981\u56fd\u306eCDS\u30c1\u30e3\u30fc\u30c8\uff08\u7c73\u56fd\u30fb\u65e5\u672c\u30fb\u4e2d\u56fd\u30fb\u97d3\u56fd\uff09\" width=\"713\" height=\"406\" srcset=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/037eb36af4a7a7da6c6f5447a25c0050.png 713w, https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/037eb36af4a7a7da6c6f5447a25c0050-300x171.png 300w\" sizes=\"auto, (max-width: 713px) 100vw, 713px\" \/><\/p>\n<ul>\n<li>2011\u5e74\uff5e2012\u5e74\u306b\u5404\u56fd\u306eCDS\u304c\u4e0a\u6607\u3057\u3066\u3044\u308b\u306e\u306f\u3001\u6b27\u5dde\u50b5\u52d9\u5371\u6a5f\u3067\u4e16\u754c\u7684\u306b\u91d1\u878d\u30de\u30fc\u30b1\u30c3\u30c8\u304c\u6df7\u4e71\u3057\u305f\u3053\u3068\u304c\u8981\u56e0<\/li>\n<li>2013\u5e746\u6708\u306f\u30d0\u30fc\u30ca\u30f3\u30ad\u30b7\u30e7\u30c3\u30af\u3067\u4e2d\u56fd\uff65\u97d3\u56fd\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u4e0a\u6607<\/li>\n<li>2015\u5e74\u306f\u30c1\u30e3\u30a4\u30ca\u30b7\u30e7\u30c3\u30af\u306b\u3088\u308a\u4e2d\u56fd\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u4e0a\u6607<\/li>\n<li>2022\u5e74\u306f\u30ed\u30b7\u30a2\u306b\u3088\u308b\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u306e\u5f71\u97ff\u3067\u4e16\u754c\u7684\u306bCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u4e0a\u6607<\/li>\n<\/ul>\n<p>\u305f\u3060\u3057\u3001\u3053\u3061\u3089\u306e4\u304b\u56fd\uff08\u7c73\u56fd\u30fb\u65e5\u672c\u30fb\u4e2d\u56fd\u30fb\u97d3\u56fd\uff09\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u7dcf\u3058\u3066\u4f4e\u3044\u6c34\u6e96\u3067\u63a8\u79fb\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3055\u3059\u304c\u306b\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\u30ea\u30b9\u30af\u306f\u4f4e\u3044\u3068\u8003\u3048\u3089\u308c\u3066\u3044\u308b\u3088\u3046\u3067\u3059\u3002<\/p>\n<p>\u6b21\u306b\u3001\u6b27\u5dde\u5404\u56fd\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u30c1\u30e3\u30fc\u30c8\u3067\u3059\u3002<\/p>\n<h2>\u6b27\u5dde\u5404\u56fd\uff08\u30c9\u30a4\u30c4\u30fb\u30d5\u30e9\u30f3\u30b9\u30fb\u30a4\u30bf\u30ea\u30a2\u30fb\u30b9\u30da\u30a4\u30f3\u30fb\u82f1\u56fd\uff09\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u63a8\u79fb<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-23516 size-full\" src=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/0afd83e9d9beffb588610b9762866af1.png\" alt=\"\u6b27\u5dde\u5404\u56fd\u306eCDS\u30c1\u30e3\u30fc\u30c8\uff08\u30c9\u30a4\u30c4\u30fb\u30d5\u30e9\u30f3\u30b9\u30fb\u30a4\u30bf\u30ea\u30a2\u30fb\u30b9\u30da\u30a4\u30f3\u30fb\u82f1\u56fd\uff09\" width=\"710\" height=\"408\" srcset=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/0afd83e9d9beffb588610b9762866af1.png 710w, https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/0afd83e9d9beffb588610b9762866af1-300x172.png 300w\" sizes=\"auto, (max-width: 710px) 100vw, 710px\" \/><\/p>\n<ul>\n<li>2011\u5e74\uff5e2012\u5e74\u306e\u6b27\u5dde\u50b5\u52d9\u5371\u6a5f\u306e\u969b\u306f\u30a4\u30bf\u30ea\u30a2\u3068\u30b9\u30da\u30a4\u30f3\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306f500bps\uff5e600bps\u307e\u3067\u4e0a\u6607<\/li>\n<li>2018\u5e74\u306e\u30a4\u30bf\u30ea\u30a2\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u4e0a\u6607\u306f\u65b0\u653f\u6a29\u8a95\u751f\u306b\u3088\u308a\u8ca1\u653f\u518d\u5efa\u304c\u5f8c\u9000\u3059\u308b\u61f8\u5ff5\u306b\u3088\u308b\u3082\u306e<\/li>\n<\/ul>\n<p>\u30c9\u30a4\u30c4\u30fb\u30d5\u30e9\u30f3\u30b9\u30fb\u82f1\u56fd\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u4f4e\u4f4d\u3067\u63a8\u79fb\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u76f8\u5bfe\u7684\u306b\u4fe1\u7528\u529b\u306e\u4f4e\u3044\u30a4\u30bf\u30ea\u30a2\u30fb\u30b9\u30da\u30a4\u30f3\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u9ad8\u3081\u306b\u63a8\u79fb\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u7279\u306b\u4f55\u3089\u304b\u306e\u30a4\u30d9\u30f3\u30c8\u304c\u767a\u751f\u3059\u308b\u3068\u30a4\u30bf\u30ea\u30a2\u30fb\u30b9\u30da\u30a4\u30f3\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u4e00\u6642\u7684\u306b\u5927\u304d\u304f\u4e0a\u6607\u3059\u308b\u50be\u5411\u306b\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u305f\u3060\u3057\u3001\u6b27\u5dde\u306e\u4e3b\u8981\u56fd\u306e\u306a\u304b\u3067\u306f\u76f8\u5bfe\u7684\u306b\u4fe1\u7528\u529b\u306e\u4f4e\u3044\u30a4\u30bf\u30ea\u30a2\u30fb\u30b9\u30da\u30a4\u30f3\u3067\u3059\u304c\u3001\u30e6\u30fc\u30ed\u5708\u30673\u4f4d\u30fb4\u4f4d\u306e\u7d4c\u6e08\u898f\u6a21\u3092\u8a87\u308a\u307e\u3059\u3002<\/p>\n<p>\u3088\u3063\u3066\u3001\u30ae\u30ea\u30b7\u30e3\u306a\u3069\u3068\u306f\u7570\u306a\u308a\u3001\u5b9f\u969b\u306b\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\u30ea\u30b9\u30af\u306f\u305d\u308c\u7a0b\u9ad8\u304f\u306a\u3044\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u3002\uff08\u30ae\u30ea\u30b7\u30e3\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306b\u3064\u3044\u3066\u306f\u4e0b\u8a18\u306b\u30c1\u30e3\u30fc\u30c8\u3092\u63b2\u8f09\u3057\u3066\u3044\u307e\u3059\uff09<\/p>\n<p><span class=\"ymarker-s\">2012\u5e74\u9803\u3001\u305d\u3053\u306b\u76ee\u3092\u3064\u3051\u305f\u4e00\u90e8\u6295\u8cc7\u5bb6\u304c\u30a4\u30bf\u30ea\u30a2\u30fb\u30b9\u30da\u30a4\u30f3\u306eCDS\u3092\u53c2\u7167\u3059\u308b\u300c\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30f3\u30af\u50b5\u300d\u3092\u7a4d\u6975\u7684\u306b\u8cfc\u5165\u3059\u308b\u52d5\u304d\u304c\u3042\u308a\u307e\u3057\u305f\u3002<\/span><\/p>\n<ul>\n<li>\u30a4\u30bf\u30ea\u30a2\u30fb\u30b9\u30da\u30a4\u30f3\u306e\u653f\u5e9c\u50b5\u52d9\u6b8b\u9ad8\u306f\u3053\u3061\u3089\u3092\u53c2\u7167\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=153\" target=\"_blank\" rel=\"noopener\">\u4e3b\u8981\u56fd\u306e\u653f\u5e9c\u50b5\u52d9\u6b8b\u9ad8(\u5bfeGDP\u6bd4)\u30fb\u653f\u5e9c\u7d14\u50b5\u52d9\u6b8b\u9ad8(\u5bfeGDP\u6bd4)<\/a><\/li>\n<li>\u30a4\u30bf\u30ea\u30a2\u30fb\u30b9\u30da\u30a4\u30f3\u306e\u683c\u4ed8\u306f\u3053\u3061\u3089\u3092\u53c2\u7167\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=5538\" target=\"_blank\" rel=\"noopener\">\u4e16\u754c\u306e\u56fd\u50b5\u683c\u4ed8\u3051\uff08\u30bd\u30d6\u30ea\u30f3\u683c\u4ed8\u3051\uff09\u4e00\u89a7<\/a><\/li>\n<li>\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30f3\u30af\u50b5\u306b\u3064\u3044\u3066\u306f\u3053\u3061\u3089\u3092\u53c2\u7167\u3057\u3066\u304f\u3060\u3055\u3044\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=120\" target=\"_blank\" rel=\"noopener noreferrer\">\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30f3\u30af\u50b5<\/a><\/li>\n<\/ul>\n<p><span class=\"ymarker-s\">\u901a\u5e38\u3001\u30a4\u30bf\u30ea\u30a2\u30fb\u30b9\u30da\u30a4\u30f3\u306f\u30e6\u30fc\u30ed\u5efa\u3066\u4ee5\u5916\u306e\u56fd\u50b5\u3092\u307b\u3068\u3093\u3069\u767a\u884c\u3057\u307e\u305b\u3093\u304c\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30f3\u30af\u50b5\u3067\u3042\u308c\u3070\u30c9\u30eb\u5efa\u3066\u3084\u5186\u5efa\u3066\u3067\u3082\u7d44\u6210\u304c\u53ef\u80fd\u3067\u3059\uff61<\/span><\/p>\n<p>\u6761\u4ef6\u306f\u671f\u95935\u5e74\u3067\u30ea\u30b9\u30af\u30d5\u30ea\u30fc\u30ec\u30fc\u30c8\uff08\u56fd\u50b5\u5229\u56de\u308a\uff09\u306bCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u3092\u52a0\u3048\u305f\u3082\u306e\u304c\u5229\u56de\u308a\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u4f8b\u3048\u30702012\u5e74\u524d\u534a\u306e\u7c73\u30c9\u30eb\u306e5\u5e74\u56fd\u50b5\u5229\u56de\u308a\u306f1\uff05\u524d\u5f8c\u3001\u5186\u306e5\u5e74\u56fd\u50b5\u5229\u56de\u308a\u306f0\uff05\u3067\u3057\u305f\u3002<\/p>\n<p><span class=\"rmarker-s\">\u30a4\u30bf\u30ea\u30a2\u306eCDS\u306f500bps\u3067\u3059\u306e\u3067\u3001\u30a4\u30bf\u30ea\u30a2\u306eCDS\u3092\u53c2\u7167\u3057\u305f\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30f3\u30af\u50b5\u306e\u5229\u56de\u308a\u306f\u3001\u7c73\u30c9\u30eb\u5efa\u30666\uff05\u3001\u5186\u5efa\u30665\uff05\u3068\u306a\u308a\u307e\u3059<\/span>\u3002<\/p>\n<p>\u30ea\u30b9\u30af\u306f\u30a4\u30bf\u30ea\u30a2\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u30ea\u30b9\u30af\u3067\u3059\u3002<\/p>\n<p>\u3053\u308c\u306f\u306a\u304b\u306a\u304b\u9b45\u529b\u7684\u306a\u6761\u4ef6\u3068\u611f\u3058\u307e\u3059\uff61<\/p>\n<p><span class=\"ymarker-s\">2018\u5e74\u3082\u30a4\u30bf\u30ea\u30a2\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u4e0a\u6607\u306b\u3088\u308a\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30f3\u30af\u50b5\u3092\u7d44\u6210\u3059\u308b\u52d5\u304d\u304c\u3042\u308a\u307e\u3057\u305f\u3002<\/span><\/p>\n<p><span class=\"rmarker-s\">2018\u5e74\u306f2012\u5e74\u3088\u308a\u7c73\u30c9\u30eb\u306e5\u5e74\u56fd\u50b5\u5229\u56de\u308a\uff08\u30d9\u30fc\u30b9\u91d1\u5229\uff09\u304c3\uff05\u524d\u5f8c\u307e\u3067\u4e0a\u6607\u3057\u3066\u3044\u305f\u306e\u3067\u3001CDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306f250bps\u7a0b\u5ea6\u3067\u3059\u304c\u3001\u51fa\u6765\u4e0a\u304c\u308a\u306e\u91d1\u5229\u304c5.5%\u3068\u306a\u308a\u3001\u7c73\u30c9\u30eb\u5efa\u3066\u3067\u7d44\u6210\u3059\u308b\u3068\u898b\u6804\u3048\u304c\u826f\u304f\u306a\u308a\u307e\u3057\u305f\u3002<\/span><\/p>\n<p>\u3053\u306e\u3088\u3046\u306bCDS\u3092\u4f7f\u3063\u305f\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30f3\u30af\u50b5\u3092\u7d44\u6210\u3059\u308b\u3053\u3068\u3067\u3001\u50b5\u5238\uff08Bond\uff09\u3068\u3057\u3066\u306f\u767a\u884c\u3055\u308c\u3066\u3044\u306a\u3044\u901a\u8ca8\u306e\u50b5\u5238\u3092\u4f5c\u308b\u3053\u3068\u304c\u53ef\u80fd\u3068\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u306f\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30f3\u30af\u50b5\u306e\u30e1\u30ea\u30c3\u30c8\u306e1\u3064\u3067\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30f3\u30af\u50b5\u306f\u65b0\u767a\u50b5\u304c\u767a\u884c\u3055\u308c\u308b\u30bf\u30a4\u30df\u30f3\u30b0\u306b\u95a2\u4fc2\u306a\u304f\u3001\u6a5f\u52d5\u7684\u306a\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u7d44\u6210\u3067\u304d\u308b\u70b9\u3082\u30e1\u30ea\u30c3\u30c8\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u6b21\u306f\u4e3b\u8981\u65b0\u8208\u56fd\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u30c1\u30e3\u30fc\u30c8\u3067\u3059\u3002<\/p>\n<h2>\u65b0\u8208\u56fd\uff08\u30d6\u30e9\u30b8\u30eb\u30fb\u30ed\u30b7\u30a2\u30fb\u30c8\u30eb\u30b3\u30fb\u30e1\u30ad\u30b7\u30b3\uff09\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u63a8\u79fb<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-23518 size-full\" src=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/8c5b7fd57b1f3798ba745bb5fa4ce0a5.png\" alt=\"\u4e3b\u8981\u65b0\u8208\u56fd\u306eCDS\u30c1\u30e3\u30fc\u30c8\uff08\u30d6\u30e9\u30b8\u30eb\u30fb\u30ed\u30b7\u30a2\u30fb\u30c8\u30eb\u30b3\u30fb\u30e1\u30ad\u30b7\u30b3\uff09\" width=\"724\" height=\"408\" srcset=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/8c5b7fd57b1f3798ba745bb5fa4ce0a5.png 724w, https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/8c5b7fd57b1f3798ba745bb5fa4ce0a5-300x169.png 300w\" sizes=\"auto, (max-width: 724px) 100vw, 724px\" \/><\/p>\n<p>\u30ed\u30b7\u30a2\u306e\u63a8\u79fb\u304c\u6975\u7aef\u306a\u306e\u3067\u30ed\u30b7\u30a2\u306eCDS\u306e\u307f\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u63b2\u8f09\u3057\u307e\u3059\u30022022\u5e747\u6708\u4ee5\u964d\u3001\u30ed\u30b7\u30a2\u306eCDS\u306f\u7b97\u51fa\u3055\u308c\u3066\u3044\u307e\u305b\u3093\u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-23520\" src=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/298ef1a2873220653a3d97688f7a64f8.png\" alt=\"\u30ed\u30b7\u30a2\u306eCDS\u30c1\u30e3\u30fc\u30c8\" width=\"723\" height=\"442\" srcset=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/298ef1a2873220653a3d97688f7a64f8.png 723w, https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/298ef1a2873220653a3d97688f7a64f8-300x183.png 300w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/p>\n<ul>\n<li>2014\u5e74\u5f8c\u534a\uff5e2015\u5e74\u524d\u534a\u306b\u304b\u3051\u3066\u30ed\u30b7\u30a2\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u4e0a\u6607\u3057\u3066\u3044\u308b\u304c\u3001\u3053\u306e\u9803\u306e\u30ed\u30b7\u30a2\u306f\u300c\u539f\u6cb9\u4fa1\u683c\u4e0b\u843d\u300d\u300c\u5730\u653f\u5b66\u30ea\u30b9\u30af\u300d\u300c\u666f\u6c17\u4f4e\u8ff7\u300d\u306b\u3088\u308a\u6df7\u4e71\u3057\u3066\u3044\u305f\u30022014\u5e7411\u6708\u306b\u30ed\u30b7\u30a2\u30eb\u30fc\u30d6\u30eb\u304c\u5909\u52d5\u76f8\u5834\u5236\u306b\u79fb\u884c\u3002<\/li>\n<li>2015\u5e74\u306b\u30d6\u30e9\u30b8\u30eb\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u4e0a\u6607\u3057\u3066\u3044\u308b\u304c\u3001\u5f53\u6642\u306e\u30d6\u30e9\u30b8\u30eb\u306f\u300c\u666f\u6c17\u5f8c\u9000\u300d\u300c\u9ad8\u30a4\u30f3\u30d5\u30ec\u300d\u300c\u8ca1\u653f\u60aa\u5316\u306b\u3088\u308b\u683c\u4e0b\u3052\u300d\u300c\u653f\u5c40\u306e\u6df7\u4e71\u300d\u304c\u540c\u6642\u306b\u767a\u751f\u3057\u3001\u975e\u5e38\u306b\u6df7\u4e71\u3057\u3066\u3044\u305f\u3002<\/li>\n<li>2018\u5e74\u306b\u30c8\u30eb\u30b3\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u6025\u4e0a\u6607\u3057\u3066\u3044\u308b\u304c\u3001\u30a8\u30eb\u30c9\u30a2\u30f3\u5927\u7d71\u9818\u306e\u5f37\u786c\u59ff\u52e2\u3092\u80cc\u666f\u306b\u7c73\u56fd\u3068\u306e\u7dca\u5f35\u611f\u304c\u9ad8\u307e\u3063\u305f\u3053\u3068\u3068\u3001\u540c\u3058\u304f\u30a8\u30eb\u30c9\u30a2\u30f3\u5927\u7d71\u9818\u304c\u4e2d\u592e\u9280\u884c\u306b\u4ecb\u5165\u59ff\u52e2\u3092\u898b\u305b\u305f\u3053\u3068\u304c\u304d\u3063\u304b\u3051\u3067\u91d1\u878d\u5e02\u5834\u304c\u5927\u304d\u304f\u6df7\u4e71\u3057\u305f\u3002<\/li>\n<li>2022\u5e74\u306e\u30ed\u30b7\u30a2\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u4e0a\u6607\u306f\u3001\u30ed\u30b7\u30a2\u306e\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u306b\u3088\u308a\u4e16\u754c\u5404\u56fd\u304b\u3089\u7d4c\u6e08\u5236\u88c1\u3092\u53d7\u3051\u305f\u3053\u3068\u304c\u8981\u56e0\u3002<\/li>\n<\/ul>\n<p><span class=\"ymarker-s\">\u65b0\u8208\u56fd\u306e\u5834\u5408\u306fCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u4e0a\u6607\u3068\u901a\u8ca8\u306e\u4e0b\u843d\u306b\u9ad8\u3044\u76f8\u95a2\u6027\u304c\u307f\u3089\u308c\u307e\u3059\u3002<\/span><\/p>\n<p>\u4f55\u3089\u304b\u306e\u7406\u7531\u3067\u56fd\u306e\u30ea\u30b9\u30af\u304c\u9ad8\u307e\u308b\u3068\u540c\u6642\u306b\u901a\u8ca8\u3082\u58f2\u3089\u308c\u308b\u30b1\u30fc\u30b9\u304c\u591a\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<p><span class=\"ymarker-s\">\u3088\u3063\u3066\u3001\u65b0\u8208\u56fd\u901a\u8ca8\u306e\u898b\u901a\u3057\u3092\u5206\u6790\u3059\u308b\u4e0a\u3067CDS\u306f\u6307\u6a19\u306e1\u3064\u3068\u3057\u3066\u6d3b\u7528\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/span><\/p>\n<ul>\n<li>\u30d6\u30e9\u30b8\u30eb\u30ec\u30a2\u30eb\u306b\u3064\u3044\u3066\u306e\u8a73\u7d30\u306f\u3053\u3061\u3089\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=3078\" target=\"_blank\" rel=\"noopener\">\u30d6\u30e9\u30b8\u30eb\u30ec\u30a2\u30eb\u70ba\u66ff\u30ec\u30fc\u30c8(\u5186\/\u30ec\u30a2\u30eb,\u30ec\u30a2\u30eb\/\u30c9\u30eb)\u9577\u671f\u63a8\u79fb(\u30c1\u30e3\u30fc\u30c8\u30fb\u5909\u52d5\u8981\u56e0)<\/a><\/li>\n<li>\u30ed\u30b7\u30a2\u30eb\u30fc\u30d6\u30eb\u306b\u3064\u3044\u3066\u306e\u8a73\u7d30\u306f\u3053\u3061\u3089\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=3090\" target=\"_blank\" rel=\"noopener noreferrer\">\u30ed\u30b7\u30a2\u30eb\u30fc\u30d6\u30eb\u70ba\u66ff\u30ec\u30fc\u30c8(\u5186\/\u30eb\u30fc\u30d6\u30eb,\u30eb\u30fc\u30d6\u30eb\/\u30c9\u30eb)\u9577\u671f\u63a8\u79fb(\u30c1\u30e3\u30fc\u30c8\u30fb\u5909\u52d5\u8981\u56e0)<\/a><\/li>\n<li>\u30c8\u30eb\u30b3\u30ea\u30e9\u306b\u3064\u3044\u3066\u306e\u8a73\u7d30\u306f\u3053\u3061\u3089\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=3103\" target=\"_blank\" rel=\"noopener\">\u30c8\u30eb\u30b3\u30ea\u30e9\u70ba\u66ff\u30ec\u30fc\u30c8(\u5186\/\u30c8\u30eb\u30b3\u30ea\u30e9\u3001\u30c8\u30eb\u30b3\u30ea\u30e9\/\u30c9\u30eb)\u9577\u671f\u63a8\u79fb(\u30c1\u30e3\u30fc\u30c8\uff65\u5909\u52d5\u8981\u56e0)<\/a><\/li>\n<li>\u30e1\u30ad\u30b7\u30b3\u30da\u30bd\u306b\u3064\u3044\u3066\u306e\u8a73\u7d30\u306f\u3053\u3061\u3089\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=3134\" target=\"_blank\" rel=\"noopener\">\u30e1\u30ad\u30b7\u30b3\u30da\u30bd\u70ba\u66ff\u30ec\u30fc\u30c8(\u5186\/\u30e1\u30ad\u30b7\u30b3\u30da\u30bd\uff64\u30e1\u30ad\u30b7\u30b3\u30da\u30bd\/\u30c9\u30eb)\u9577\u671f\u63a8\u79fb(\u30c1\u30e3\u30fc\u30c8\u30fb\u5909\u52d5\u8981\u56e0)<\/a><\/li>\n<\/ul>\n<p>\u6700\u5f8c\u306b\u30c7\u30d5\u30a9\u30eb\u30c8\u7d4c\u9a13\u304c\u3042\u308b\u30ae\u30ea\u30b7\u30e3\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u30c1\u30e3\u30fc\u30c8\u3067\u3059\u3002<\/p>\n<h2>\u30ae\u30ea\u30b7\u30e3\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u63a8\u79fb<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-23519\" src=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/22adcc72e3633ff02b94b6d744679f7c.png\" alt=\"\u30ed\u30b7\u30a2\u306eCDS\u30c1\u30e3\u30fc\u30c8\" width=\"724\" height=\"417\" srcset=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/22adcc72e3633ff02b94b6d744679f7c.png 724w, https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/11\/22adcc72e3633ff02b94b6d744679f7c-300x173.png 300w\" sizes=\"auto, (max-width: 724px) 100vw, 724px\" 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