{"id":10574,"date":"2020-05-06T19:50:56","date_gmt":"2020-05-06T10:50:56","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=10574"},"modified":"2020-05-06T19:50:56","modified_gmt":"2020-05-06T10:50:56","slug":"%e7%b1%b3%e5%9b%bd%e3%81%ae%e9%87%8f%e7%9a%84%e7%b7%a9%e5%92%8c%e3%81%8c%e9%99%90%e7%95%8c%e3%81%ab%e8%bf%91%e3%81%a5%e3%81%8d%e5%a4%b1%e9%80%9f%e3%81%b8%e3%80%80%e6%a0%aa%e4%be%a1%e3%81%b8%e3%81%ae","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/10574","title":{"rendered":"\u7c73\u56fd\u306e\u91cf\u7684\u7de9\u548c\u304c\u9650\u754c\u306b\u8fd1\u3065\u304d\u5931\u901f\u3078\u3000\u682a\u4fa1\u3078\u306e\u5f71\u97ff\u306f"},"content":{"rendered":"\n<p>\u4e16\u754c\u306e\u682a\u5f0f\u5e02\u5834\u306f\u65b0\u578b\u30b3\u30ed\u30ca\u30a6\u30a3\u30eb\u30b9\u306e\u4e16\u754c\u7684\u6d41\u884c\u306b\u3088\u308b\u682a\u5b89\u76f8\u5834\u304b\u3089\u306e\u53cd\u767a\u304c\u7d9a\u3044\u3066\u3044\u308b\u3002\u3057\u304b\u3057\u7b46\u8005\u306b\u306f\u73fe\u5728\u306e\u76f8\u5834\u306b\u306f\u30dd\u30b8\u30c6\u30a3\u30d6\u306a\u8981\u7d20\u304c\u307b\u3068\u3093\u3069\u306a\u3044\u3088\u3046\u306b\u898b\u3048\u308b\u3002\u5b9f\u4f53\u7d4c\u6e08\u304c\u5371\u6a5f\u7684\u72b6\u6cc1\u306b\u3042\u308b\u306e\u306f\u3053\u308c\u307e\u3067\u4f1d\u3048\u3066\u3044\u308b\u304c\u3001\u305d\u308c\u306b\u52a0\u3048\u3066\u30a2\u30e1\u30ea\u30ab\u306e\u91cf\u7684\u7de9\u548c\u304c\u5931\u901f\u3057\u59cb\u3081\u305f\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u56fd\u50b5\u8cb7\u3044\u5165\u308c\u5931\u901f<\/strong><\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u3067\u306f2\u6708\u304b\u3089\u306e\u682a\u5b89\u76f8\u5834\u3092\u53d7\u3051\u3066\u7121\u5236\u9650\u306e\u91cf\u7684\u7de9\u548c\u304c\u884c\u308f\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9373\">\u7c73\u56fd\u3001\u91cf\u7684\u7de9\u548c\u306e\u7121\u5236\u9650\u5316\u3092\u767a\u8868\u3082\u7c73\u56fd\u682a\u306f\u4e0b\u843d<\/a><\/li><\/ul>\n\n\n\n<p>\u91cf\u7684\u7de9\u548c\u3068\u306f\u4e2d\u592e\u9280\u884c\u304c\u901a\u8ca8\u3092\u767a\u884c\u3057\u3066\u305d\u306e\u901a\u8ca8\u3067\u56fd\u50b5\u306a\u3069\u306e\u8a3c\u5238\u3092\u8cb7\u3044\u5165\u308c\u308b\u3053\u3068\u3067\u3042\u308a\u3001\u7121\u5236\u9650\u3068\u306f\u305d\u306e\u8cb7\u3044\u5165\u308c\u984d\u306b\u5236\u9650\u304c\u306a\u3044\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u3053\u306e\u7121\u5236\u9650\u306e\u91cf\u7684\u7de9\u548c\u304c4\u6708\u306e\u5f8c\u534a\u304b\u3089\u5931\u901f\u3057\u59cb\u3081\u3066\u3044\u308b\u3002\u4e2d\u592e\u9280\u884c\u306e\u56fd\u50b5\u4fdd\u6709\u984d\u306e\u63a8\u79fb\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"486\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-apr-treasury-bonds-hold-by-fed-chart.png\" alt=\"\" class=\"wp-image-10575\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-apr-treasury-bonds-hold-by-fed-chart.png 486w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-apr-treasury-bonds-hold-by-fed-chart-300x289.png 300w\" sizes=\"auto, (max-width: 486px) 100vw, 486px\" \/><\/figure>\n\n\n\n<p>3\u6708\u306b\u5165\u3063\u3066\u52e2\u3044\u826f\u304f\u6025\u4e0a\u6607\u3057\u305f\u30b0\u30e9\u30d5\u306e\u50be\u304d\u304c\u6bb5\u3005\u306a\u3060\u3089\u304b\u306b\u306a\u3063\u3066\u304d\u3066\u3044\u308b\u306e\u304c\u5206\u304b\u308b\u3060\u308d\u3046\u3002\u305d\u3057\u3066\u305d\u306e\u7d50\u679c\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u304b\u3068\u8a00\u3048\u3070\u3001\u9577\u671f\u91d1\u5229\u304c\u4e0d\u6c17\u5473\u306a\u4e0a\u6607\u3092\u59cb\u3081\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"456\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-5-6-us-10-year-treasury-rate-yield-chart.png\" alt=\"\" class=\"wp-image-10576\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-5-6-us-10-year-treasury-rate-yield-chart.png 640w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-5-6-us-10-year-treasury-rate-yield-chart-300x214.png 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/figure>\n\n\n\n<p>\u9577\u671f\u91d1\u5229\u306f10\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u3060\u304c\u3001\u3088\u308a\u30ea\u30b9\u30af\u306e\u9ad8\u304430\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306f\u3082\u3063\u3068\u660e\u3089\u304b\u306b\u4e0a\u5411\u304d\u59cb\u3081\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"456\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-5-6-us-30-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-10577\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-5-6-us-30-year-treasury-bond-yield-chart.png 640w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-5-6-us-30-year-treasury-bond-yield-chart-300x214.png 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/figure>\n\n\n\n<p>\u7e70\u308a\u8fd4\u3059\u304c\u3001\u73fe\u5728\u30a2\u30e1\u30ea\u30ab\u306e\u4e2d\u592e\u9280\u884c\u306f\u7121\u5236\u9650\u306e\u56fd\u50b5\u8cb7\u3044\u5165\u308c\u306b\u3088\u3063\u3066\u91d1\u5229\u3092\u4e0b\u3052\u3088\u3046\u3068\u3057\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002\u91cf\u7684\u7de9\u548c\u3067\u682a\u4fa1\u304c\u652f\u3048\u3089\u308c\u308b\u306e\u306f\u3001\u56fd\u50b5\u306e\u91d1\u5229\u304c\u4e0b\u304c\u308b\u3053\u3068\u306b\u3088\u3063\u3066\u6295\u8cc7\u5bb6\u304c\u3088\u308a\u30ea\u30b9\u30af\u306e\u9ad8\u3044\u4e0d\u52d5\u7523\u3084\u682a\u5f0f\u306b\u8cc7\u91d1\u3092\u632f\u308a\u5206\u3051\u308b\u304b\u3089\u3067\u3042\u308a\u3001\u91d1\u5229\u304c\u4e0a\u304c\u3063\u3066\u3057\u307e\u3046\u3068\u305d\u306e\u6d6e\u63da\u52b9\u679c\u3082\u7121\u304f\u306a\u3063\u3066\u3057\u307e\u3046\u3002<\/p>\n\n\n\n<p><strong>\u91cf\u7684\u7de9\u548c\u5931\u901f\u306e\u7406\u7531<\/strong><\/p>\n\n\n\n<p>\u300c\u7121\u5236\u9650\u306e\u56fd\u50b5\u8cb7\u3044\u5165\u308c\u300d\u306f\u4f55\u6545\u5931\u901f\u3057\u3066\u3057\u307e\u3063\u3066\u3044\u308b\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u305d\u306e\u7406\u7531\u306f\u4e2d\u592e\u9280\u884c\u306e\u8cb7\u3044\u5165\u308c\u984d\u306b\u5236\u9650\u304c\u306a\u304f\u3068\u3082\u8cb7\u3044\u5165\u308c\u308b\u3053\u3068\u306e\u51fa\u6765\u308b\u56fd\u50b5\u306e\u7dcf\u91cf\u306b\u9650\u308a\u304c\u3042\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u73fe\u6642\u70b9\u3067\u5b58\u5728\u3057\u3066\u3044\u308b\u7c73\u56fd\u50b5\u306e\u91cf\u306f23\u5146\u30c9\u30eb\u3067\u3042\u308b\u3002\u4e00\u65b9\u30673\u6708\u306b\u91cf\u7684\u7de9\u548c\u304c\u52a0\u901f\u3057\u3066\u304b\u30891\u30f6\u6708\u3067\u8cb7\u3044\u5165\u308c\u305f\u56fd\u50b5\u306e\u984d\u306f\u30b0\u30e9\u30d5\u3092\u898b\u308c\u3070\u5206\u304b\u308b\u304c1\u5146\u30c9\u30eb\u7a0b\u5ea6\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"486\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-apr-treasury-bonds-hold-by-fed-chart.png\" alt=\"\" class=\"wp-image-10575\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-apr-treasury-bonds-hold-by-fed-chart.png 486w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-apr-treasury-bonds-hold-by-fed-chart-300x289.png 300w\" sizes=\"auto, (max-width: 486px) 100vw, 486px\" \/><\/figure>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u300c\u7121\u5236\u9650\u306e\u91cf\u7684\u7de9\u548c\u300d\u3092\u5f53\u521d\u306e\u901f\u5ea6\u3067\u7d9a\u3051\u308b\u3068\u3053\u306e\u4e16\u306b\u5b58\u5728\u3059\u308b\u3059\u3079\u3066\u306e\u7c73\u56fd\u50b5\u30922\u5e74\u8db3\u3089\u305a\u3067\u3059\u3079\u3066\u8cb7\u3044\u4e0a\u3052\u3066\u3057\u307e\u3046\u3053\u3068\u306b\u306a\u308b\u306e\u3067\u3042\u308b\u3002\u3053\u308c\u304c\u91cf\u7684\u7de9\u548c\u306e\u9650\u754c\u3067\u3042\u308b\u3002\u8cb7\u3044\u5165\u308c\u5bfe\u8c61\u304c\u7121\u304f\u306a\u308c\u3070\u8cb7\u3044\u5165\u308c\u306f\u51fa\u6765\u306a\u304f\u306a\u308b\u3002\u5f53\u305f\u308a\u524d\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u3067\u4e2d\u592e\u9280\u884c\u306f\u682a\u4fa1\u304c\u843d\u3061\u7740\u3044\u305f\u305f\u3081\u306b\u8cb7\u3044\u5165\u308c\u901f\u5ea6\u3092\u843d\u3068\u3057\u305f\u306e\u3060\u304c\u3001\u305d\u3046\u3059\u308b\u3068\u4eca\u5ea6\u306f\u91d1\u5229\u304c\u4e0a\u6607\u3057\u3066\u304d\u305f\u3002\u3057\u304b\u3057\u91d1\u5229\u304c\u4e0a\u6607\u3059\u308c\u3070\u682a\u4fa1\u3092\u652f\u3048\u308b\u3053\u3068\u306f\u51fa\u6765\u306a\u304f\u306a\u3063\u3066\u3057\u307e\u3046\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p><strong>\u91cf\u7684\u7de9\u548c\u306e\u9650\u754c<\/strong><\/p>\n\n\n\n<p>\u3053\u308c\u304c\u3053\u3053\u6570\u5e74\u4f55\u5ea6\u3082\u61f8\u5ff5\u3055\u308c\u3066\u3044\u305f\u4e2d\u592e\u9280\u884c\u306e\u7de9\u548c\u9650\u754c\u306e\u554f\u984c\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9032\">\u7c73\u56fd\u3001\u7dca\u6025\u4f1a\u5408\u3067\u30bc\u30ed\u91d1\u5229\u307e\u3067\u5229\u4e0b\u3052\u3057\u91cf\u7684\u7de9\u548c\u3092\u6b63\u5f0f\u306b\u518d\u958b\u3000\u66b4\u843d\u6642\u306e\u8ffd\u52a0\u7de9\u548c\u304c\u4e0d\u53ef\u80fd\u306b<\/a><\/li><\/ul>\n\n\n\n<p>\u4eca\u56de\u306e\u30b3\u30ed\u30ca\u30b7\u30e7\u30c3\u30af\u3067\u4e16\u754c\u4e2d\u306e\u4e2d\u592e\u9280\u884c\u306f\u8ffd\u52a0\u7de9\u548c\u306e\u4f59\u5730\u3092\u5931\u3063\u3066\u3057\u307e\u3063\u305f\u3002\u305d\u308c\u3069\u3053\u308d\u304b\u30a2\u30e1\u30ea\u30ab\u306f\u3053\u3053\u307e\u3067\u9650\u754c\u3092\u8d8a\u3048\u3066\u7de9\u548c\u3057\u3066\u304a\u308a\u3001\u5931\u901f\u306f\u4e0d\u53ef\u907f\u3060\u3063\u305f\u3068\u8a00\u3048\u308b\u3002\u3057\u304b\u3057\u3082\u3057\u304b\u3059\u308b\u3068\u5e02\u5834\u306f\u5931\u901f\u3092\u8a31\u3055\u306a\u3044\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u7c73\u56fd\u306e\u682a\u4fa1\u6307\u6570S&amp;P 500\u306f\u6b21\u306e\u3088\u3046\u306b\u63a8\u79fb\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"612\" height=\"379\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-5-6-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-10579\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-5-6-s-and-p-500-chart.png 612w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/05\/2020-5-6-s-and-p-500-chart-300x186.png 300w\" sizes=\"auto, (max-width: 612px) 100vw, 612px\" \/><\/figure>\n\n\n\n<p><strong>\u73fe\u5728\u306e\u682a\u4fa1\u6c34\u6e96<\/strong><\/p>\n\n\n\n<p>\u7b46\u8005\u306f\u73fe\u5728\u7c73\u56fd\u682a\u3092\u7a7a\u58f2\u308a\u3057\u3066\u3044\u308b\u304c\u3001\u540c\u3058\u3088\u3046\u306b\u7a7a\u58f2\u308a\u3092\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u306b\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u3044\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u682a\u4fa1\u6c34\u6e96\u306b\u3064\u3044\u3066\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/10467\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u682a\u4fa1\u306f3\u6708\u306e\u5e95\u5024\u3092\u66f4\u65b0\u3059\u308b<\/a><\/li><\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>2,863\u3067S&amp;P\u3092\u7a7a\u58f2\u308a\u3057\u305f\u3002\u3053\u3053\u304b\u3089\u306f\u30a2\u30c3\u30d7\u30b5\u30a4\u30c9\u3082\u30c0\u30a6\u30f3\u30b5\u30a4\u30c9\u3082\u5927\u304d\u304f\u306a\u3044\u3002<\/p><p>S&amp;P 500\u306f3,000\u307e\u3067\u884c\u304b\u306a\u3044\u3068\u601d\u3046\u304c\u3001\u305d\u308c\u3082\u6709\u308a\u5f97\u308b\u3002\u30c0\u30a6\u30f3\u30b5\u30a4\u30c9\u306b\u3064\u3044\u3066\u306f\u5bb9\u6613\u306b\u5e95\u5024\u3092\u8d8a\u3048\u3066\u3044\u304f\u3060\u308d\u3046\u3002<\/p><\/blockquote>\n\n\n\n<p>\u5f7c\u304c\u4f55\u6545\u3053\u306e\u3088\u3046\u306b\u8a00\u3063\u305f\u304b\u3068\u8a00\u3048\u3070\u3001\u73fe\u5728\u306e\u5e02\u5834\u74b0\u5883\u3068\u30b3\u30ed\u30ca\u30b7\u30e7\u30c3\u30af\u306e\u898f\u6a21\u306e\u5927\u304d\u3055\u304b\u3089\u8003\u3048\u308c\u30703,000\u7a0b\u5ea6\u304c\u682a\u4fa1\u306e\u9650\u754c\u3060\u304b\u3089\u3067\u3042\u308b\u3002\u5b9f\u4f53\u7d4c\u6e08\u3078\u306e\u30c0\u30e1\u30fc\u30b8\u306e\u5927\u304d\u3055\u306b\u3064\u3044\u3066\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u8aac\u660e\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a 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class=\"screen-reader-text\">\u7c73\u56fd\u306e\u91cf\u7684\u7de9\u548c\u304c\u9650\u754c\u306b\u8fd1\u3065\u304d\u5931\u901f\u3078\u3000\u682a\u4fa1\u3078\u306e\u5f71\u97ff\u306f<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[118,108],"tags":[],"class_list":["post-10574","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/10574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/comments?post=10574"}],"version-history":[{"count":13,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/10574\/revisions"}],"predecessor-version":[{"id":10591,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/10574\/revisions\/10591"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=10574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=10574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=10574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}