{"id":17958,"date":"2021-12-06T20:02:00","date_gmt":"2021-12-06T11:02:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=17958"},"modified":"2021-12-06T18:09:08","modified_gmt":"2021-12-06T09:09:08","slug":"%e7%8f%be%e5%9c%a8%e3%81%ae%e3%82%a2%e3%83%a1%e3%83%aa%e3%82%ab%e3%81%ae%e7%89%a9%e4%be%a1%e9%ab%98%e9%a8%b0%e3%81%af%e3%82%a4%e3%83%b3%e3%83%95%e3%83%ac%e7%ac%ac1%e6%b3%a2%e3%81%ab%e9%81%8e%e3%81%8e","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/17958","title":{"rendered":"\u73fe\u5728\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u7269\u4fa1\u9ad8\u9a30\u306f\u30a4\u30f3\u30d5\u30ec\u7b2c1\u6ce2\u306b\u904e\u304e\u306a\u3044"},"content":{"rendered":"\n<p>\u91d1\u878d\u5e02\u5834\u304c\u30a2\u30e1\u30ea\u30ab\u306e\u7269\u4fa1\u4e0a\u6607\u3092\u61f8\u5ff5\u3057\u59cb\u3081\u3066\u304b\u3089\u6570\u30f6\u6708\u304c\u7d4c\u3064\u304c\u3001\u5b9f\u969b\u4eca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u3069\u3046\u63a8\u79fb\u3057\u3066\u3086\u304f\u3060\u308d\u3046\u304b\u3002\u7b46\u8005\u304c\u3053\u3053\u3067\u8b70\u8ad6\u3057\u305f\u3044\u306e\u306f\u3001\u6050\u3089\u304f\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4e00\u65b9\u7684\u306b\u4e0a\u6607\u3092\u7d9a\u3051\u3066\u3086\u304f\u308f\u3051\u3067\u3082\u306a\u3051\u308c\u3070\u3001\u4e2d\u592e\u9280\u884c\u306e\u5f15\u304d\u7de0\u3081\u3067\u4e00\u65b9\u7684\u306b\u4e0b\u304c\u3063\u3066\u3086\u304f\u308f\u3051\u3067\u3082\u306a\u3044\u3060\u308d\u3046\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u4eca\u5f8c\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u898b\u901a\u3057<\/strong><\/p>\n\n\n\n<p>\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u4ee5\u6765\u306e\u7d19\u5e63\u5370\u5237\u304c\u73fe\u91d1\u7d66\u4ed8\u306b\u3088\u3063\u3066\u81e8\u754c\u70b9\u3092\u8d85\u3048\u3001\u4e16\u754c\u7d4c\u6e08\u306f\u98a8\u524d\u306e\u706f\u3068\u306a\u3063\u3066\u3057\u307e\u3063\u305f\u3002\u305d\u3057\u3066\u98a8\u524d\u306e\u706f\u3068\u306a\u3063\u305f\u7d4c\u6e08\u304c\u3069\u3046\u632f\u308b\u821e\u3046\u304b\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u305d\u308c\u307b\u3069\u5358\u7d14\u3067\u306f\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u660e\u3089\u304b\u306b\u7269\u4fa1\u304c\u4e0a\u304c\u3063\u3066\u304a\u308a\u3001\u6295\u8cc7\u5bb6\u3067\u306f\u306a\u3044\u666e\u901a\u306e\u4eba\u3005\u3055\u3048\u3082\u30a4\u30f3\u30d5\u30ec\u3092\u61f8\u5ff5\u3057\u3066\u3044\u308b\u3002\u3053\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u52e2\u3044\u306f\u6765\u5e74\u306b\u306f\u8f38\u5165\u7269\u4fa1\u3092\u901a\u3057\u3066\u65e5\u672c\u306b\u3082\u5165\u3063\u3066\u304f\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/17244\" data-type=\"post\" data-id=\"17244\">10\u6708\u306e\u7c73\u30a4\u30f3\u30d5\u30ec\u306f\u5e74\u738712%\u8fd1\u3044\u9ad8\u9a30\u3001\u6765\u5e74\u306f\u7269\u8cc7\u4e0d\u8db3\u304b<\/a><\/li><\/ul>\n\n\n\n<p>\u4eca\u5f8c\u306e\u63a8\u79fb\u306f2\u30d1\u30bf\u30fc\u30f3\u3057\u304b\u306a\u3044\u3088\u3046\u306b\u898b\u3048\u308b\u3002Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u304c\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u5f37\u3081\u3066\u682a\u4fa1\u3068\u7d4c\u6e08\u3092\u589c\u843d\u3055\u305b\u3001\u7269\u4fa1\u306f\u30c7\u30d5\u30ec\u306b\u5411\u304b\u3046\u306e\u304b\u3001\u91d1\u878d\u653f\u7b56\u3092\u5341\u5206\u5f15\u304d\u7de0\u3081\u308b\u3053\u3068\u304c\u51fa\u6765\u305a\u306b\u7269\u4fa1\u9ad8\u9a30\u304c\u6b62\u307e\u3089\u306a\u304f\u306a\u308b\u304b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u5b9f\u969b\u306e\u3068\u3053\u308d\u3001\u4eca\u5f8c\u306e\u7269\u4fa1\u898b\u901a\u3057\u306f\u305d\u308c\u307b\u3069\u5358\u7d14\u3067\u306f\u306a\u3044\u3002\u305d\u308c\u3092\u793a\u5506\u3059\u308b\u306e\u304c\u7c73\u56fd\u50b5\u306e\u91d1\u5229\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-2-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"556\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-2-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-17963\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-2-year-treasury-bond-yield-chart.png 556w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-2-year-treasury-bond-yield-chart-300x253.png 300w\" sizes=\"auto, (max-width: 556px) 100vw, 556px\" \/><\/a><\/figure>\n\n\n\n<p>\u307e\u305a\u30012\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306f\u3053\u306e\u3088\u3046\u306b\u4e0a\u304c\u3063\u3066\u3044\u308b\u3002\u77ed\u671f\u91d1\u5229\u3067\u3042\u308b2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306f\u3001\u4eca\u5f8c\u306e\u653f\u7b56\u91d1\u5229\u306e\u898b\u901a\u3057\u306b\u5f71\u97ff\u3055\u308c\u308b\u3002Fed\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u3088\u3046\u3084\u304f\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306b\u3084\u308b\u6c17\u3092\u898b\u305b\u3001\u4eca\u5f8c\u5229\u4e0a\u3052\u304c\u884c\u308f\u308c\u308b\u3068\u306e\u89b3\u6e2c\u3092\u305d\u306e\u307e\u307e\u53cd\u6620\u3057\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u9577\u671f\u91d1\u5229\u3068\u547c\u3070\u308c\u308b10\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306f\u305d\u308c\u307b\u3069\u4e0a\u304c\u3063\u3066\u3044\u306a\u3044\u3069\u3053\u308d\u304b\u3001\u3084\u3084\u4e0b\u304c\u308a\u6c17\u5473\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-10-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"628\" height=\"513\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-17964\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-10-year-treasury-bond-yield-chart.png 628w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-10-year-treasury-bond-yield-chart-300x245.png 300w\" sizes=\"auto, (max-width: 628px) 100vw, 628px\" \/><\/a><\/figure>\n\n\n\n<p>\u3053\u306e\u5dee\u306f\u3053\u3053\u3067\u306f\u4f55\u5ea6\u3082\u53d6\u308a\u4e0a\u3052\u3066\u3044\u308b\u901a\u308a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u9577\u77ed\u91d1\u5229\u5dee\u306e\u5b9f\u4f53<\/strong><\/p>\n\n\n\n<p>\u3057\u304b\u3057\u3053\u306e\u5dee\u306f\u4f55\u3092\u8868\u3057\u3066\u3044\u308b\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u3082\u3046\u5c11\u3057\u8a73\u3057\u304f\u898b\u308b\u305f\u3081\u306b\u3001\u5e02\u5834\u306e\u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u30c1\u30e3\u30fc\u30c8\u3082\u4e26\u3079\u3066\u307f\u305f\u3044\u3002<\/p>\n\n\n\n<p>\u4ee5\u4e0b\u306f10\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\uff08\u540d\u76ee\u91d1\u5229\uff09\u304b\u308910\u5e74\u7269\u306e\u30a4\u30f3\u30d5\u30ec\u8abf\u6574\u6e08\u307f\u56fd\u50b5\u306e\u91d1\u5229\uff08\u5b9f\u8cea\u91d1\u5229\uff09\u3092\u5f15\u304f\u3053\u3068\u3067\u5c0e\u51fa\u3057\u305f\u3001\u5e02\u5834\u306e\u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-10-year-breakeven-inflation-rate-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"521\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-10-year-breakeven-inflation-rate-chart.png\" alt=\"\" class=\"wp-image-17965\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-10-year-breakeven-inflation-rate-chart.png 521w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-10-year-breakeven-inflation-rate-chart-300x269.png 300w\" sizes=\"auto, (max-width: 521px) 100vw, 521px\" \/><\/a><\/figure>\n\n\n\n<p>\u3053\u308c\u306f10\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u304b\u3089\u5272\u308a\u51fa\u3057\u305f\u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387\u306a\u306e\u3067\u3001\u4eca\u5f8c10\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u5e74\u7387\u30672.4%\u306b\u306a\u308b\u3068\u5e02\u5834\u304c\u4e88\u60f3\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3067\u306f\u3053\u308c\u30925\u5e74\u7269\u56fd\u50b5\u306b\u3064\u3044\u3066\u540c\u3058\u8a08\u7b97\u3092\u3057\u305f\u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387\u3068\u6bd4\u3079\u3066\u307f\u308b\u3068\u3069\u3046\u306a\u308b\u3060\u308d\u3046\u304b\uff1f<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-5-year-breakeven-inflation-rate-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"521\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-5-year-breakeven-inflation-rate-chart.png\" alt=\"\" class=\"wp-image-17966\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-5-year-breakeven-inflation-rate-chart.png 521w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/12\/2021-12-6-us-5-year-breakeven-inflation-rate-chart-300x269.png 300w\" sizes=\"auto, (max-width: 521px) 100vw, 521px\" \/><\/a><\/figure>\n\n\n\n<p>5\u5e74\u306e\u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387\u306f2.7%\u3067\u3042\u308a\u300110\u5e74\u306e\u3082\u306e\u3088\u308a\u3082\u9ad8\u304f\u3001\u3057\u304b\u3082\u30c1\u30e3\u30fc\u30c8\u306e\u4e0a\u304c\u308a\u65b9\u3082\u6fc0\u3057\u3044\u3053\u3068\u304c\u5206\u304b\u308b\u3002\u5e02\u5834\u306f\u4eca\u5f8c10\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u3088\u308a\u3082\u4eca\u5f8c5\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u65b9\u304c\u9177\u304f\u306a\u308b\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u4eca\u5f8c\u306e\u4e2d\u9577\u671f\u7684\u306a\u30a4\u30f3\u30d5\u30ec\u7387<\/strong><\/p>\n\n\n\n<p>\u3053\u306e\u4e8b\u5b9f\u306f\u3001\u3053\u308c\u304b\u3089\u4f55\u5e74\u304b\u30a4\u30f3\u30d5\u30ec\u306f\u4e0a\u6607\u3059\u308b\u304c\u3001\u4eca\u5f8c\u5fc5\u8981\u3068\u306a\u308b\u91d1\u878d\u5f15\u304d\u7de0\u3081\u653f\u7b56\u306e\u304a\u9670\u306710\u5e74\u4ee5\u5185\u306b\u306f\u6c88\u9759\u5316\u3059\u308b\u3001\u3064\u307e\u308a\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u3053\u308c\u304b\u3089\u4e0a\u304c\u3063\u3066\u4e0b\u304c\u308b\u3068\u3044\u3046\u4e88\u60f3\u3092\u5e02\u5834\u304c\u3057\u3066\u3044\u308b\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u6050\u3089\u304f\u305d\u308c\u306f\u4e8b\u5b9f\u3060\u308d\u3046\u3002\u305d\u3057\u3066\u7d4c\u6e08\u6210\u9577\u7387\u3082\u540c\u3058\u3088\u3046\u306b\u306a\u308b\u3068\u60f3\u5b9a\u3055\u308c\u308b\u3002\u6050\u3089\u304f\u306f\u682a\u4fa1\u3082\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u72b6\u6cc1\u306f\u305d\u308c\u3067\u7d42\u308f\u308a\u3068\u3044\u3046\u308f\u3051\u3067\u3082\u306a\u3044\u3068\u3044\u3046\u306e\u304c\u672c\u7a3f\u306e\u8da3\u65e8\u3067\u3042\u308b\u3002\u4f55\u6545\u304b\u3068\u8a00\u3048\u3070\u3001\u307e\u305a\u306f\u524d\u56de\u30a2\u30e1\u30ea\u30ab\u304c\u30a4\u30f3\u30d5\u30ec\u306b\u82e6\u3057\u3093\u30601970\u5e74\u4ee3\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u3068\u3001\u305d\u308c\u306b\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u7b56\u91d1\u5229\u3092\u4e26\u3079\u305f\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/02\/1970-1985-us-inflation-rate-and-federal-funds-rate-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"488\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/02\/1970-1985-us-inflation-rate-and-federal-funds-rate-chart.png\" alt=\"\" class=\"wp-image-12634\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/02\/1970-1985-us-inflation-rate-and-federal-funds-rate-chart.png 488w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/02\/1970-1985-us-inflation-rate-and-federal-funds-rate-chart-300x288.png 300w\" sizes=\"auto, (max-width: 488px) 100vw, 488px\" \/><\/a><\/figure>\n\n\n\n<p>\u6ce2\u304c3\u56de\u6765\u3066\u3044\u308b\u306e\u304c\u5206\u304b\u308b\u3002\u3082\u3046\u304a\u5206\u304b\u308a\u3060\u3068\u601d\u3046\u304c\u3001\u30b3\u30ed\u30ca\u3068\u540c\u3058\u3088\u3046\u306b\u4eca\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u306f\u7b2c1\u6ce2\u306b\u904e\u304e\u306a\u3044\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u307e\u305a\u30c1\u30e3\u30fc\u30c8\u306e\u7b2c1\u6ce2\u306e\u90e8\u5206\u306b\u6ce8\u76ee\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u3002\u30a4\u30f3\u30d5\u30ec\u7387\u306f6%\u4ed8\u8fd1\u307e\u3067\u4e0a\u304c\u3063\u3066\u304a\u308a\u3001\u3053\u306e\u6570\u5b57\u306f\u4eca\u306e\u524d\u5e74\u540c\u6708\u6bd4\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306b\u307b\u307c\u7b49\u3057\u3044\u3002<\/p>\n\n\n\n<p>\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u3066\u5206\u304b\u308b\u3088\u3046\u306b\u3001\u3053\u306e\u6642\u306fFed\u306f9%\u8fd1\u304f\u307e\u3067\u5229\u4e0a\u3052\u3092\u3057\u3001\u7d50\u679c\u3068\u3057\u3066\u30a4\u30f3\u30d5\u30ec\u306f\u6c88\u9759\u5316\u3055\u308c\u305f\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u305d\u308c\u3067\u306f\u7d42\u308f\u3089\u306a\u304b\u3063\u305f\u306e\u3067\u3042\u308b\u3002\u30c1\u30e3\u30fc\u30c8\u306e\u5f71\u304c\u304b\u304b\u3063\u3066\u3044\u308b\u90e8\u5206\u306f\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u304c\u666f\u6c17\u5f8c\u9000\u306b\u9665\u3063\u305f\u90e8\u5206\u3067\u3042\u308a\u3001\u5229\u4e0a\u3052\u3092\u3059\u308b\u5ea6\u306b\u7d4c\u6e08\u304c\u666f\u6c17\u5f8c\u9000\u306b\u9665\u3063\u3066\u3044\u308b\u306e\u304c\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u3067\u3084\u3080\u306a\u304f\u5229\u4e0a\u3052\u3092\u3057\u3001\u30a4\u30f3\u30d5\u30ec\u306f\u3088\u3046\u3084\u304f\u843d\u3061\u7740\u3044\u305f\u304c\u7d4c\u6e08\u306f\u6b7b\u3093\u3067\u3044\u308b\u3002\u4eba\u3005\u304c\u4f55\u3092\u671b\u3080\u304b\u304a\u5206\u304b\u308a\u3060\u308d\u3046\u304b\uff1f\u3000\u7de9\u548c\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u3067\u3082\u3046\u4e00\u5ea6\u91d1\u5229\u306f\u4e0b\u304c\u308a\u3001\u7d50\u679c\u3068\u3057\u3066\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u518d\u3073\u4e0a\u304c\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u7d4c\u6e08\u306f\u30b3\u30ed\u30ca\u306e\u305f\u3081\u306b\u4eca\u3067\u3082\u5341\u5206\u75b2\u5f0a\u3057\u3066\u3044\u308b\u304c\u3001\u4eca\u5f8c\u5229\u4e0a\u3052\u306b\u3088\u308b\u666f\u6c17\u5f8c\u9000\u3092\u7d4c\u9a13\u3059\u308c\u3070\u66f4\u306b\u75b2\u5f0a\u3057\u305f\u72b6\u614b\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u7d4c\u6e08\u6210\u9577\u3092\u7dad\u6301\u3059\u308b\u305f\u3081\u306b\u306f\u66f4\u306b\u5f37\u529b\u306a\u7de9\u548c\u304c\u5fc5\u8981\u306b\u306a\u308b\u3002\u305d\u308c\u3067\u30a4\u30f3\u30d5\u30ec\u306e\u7b2c2\u6ce2\u306f\u7b2c1\u6ce2\u3088\u308a\u9ad8\u3044\u3082\u306e\u306b\u306a\u308b\u3002\u3053\u308c\u304c\u4f55\u5ea6\u3082\u7d9a\u3044\u3066\u7d4c\u6e08\u304c\u58ca\u6ec5\u7684\u306a\u7269\u4fa1\u9ad8\u9a30\u3092\u7d4c\u9a13\u3059\u308b\u3068\u3053\u308d\u307e\u3067\u884c\u3063\u3066\u3057\u307e\u3046\u3068\u3044\u3046\u306e\u304c1970\u5e74\u4ee3\u306e\u6559\u8a13\u3067\u3042\u308a\u3001\u6050\u3089\u304f\u3053\u308c\u304b\u3089\u540c\u3058\u3088\u3046\u306b\u306a\u308b\u53ef\u80fd\u6027\u306f\u9ad8\u3044\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u3053\u308c\u307e\u3067\u306f\u30a4\u30f3\u30d5\u30ec\u7b2c1\u6ce2\u306e\u3053\u3068\u3060\u3051\u3092\u66f8\u3044\u3066\u304d\u305f\u304c\u3001\u5e02\u5834\u304c\u3088\u3046\u3084\u304f\u7b2c1\u6ce2\u3092\u8b66\u6212\u3057\u59cb\u3081\u305f\u306e\u3067\u3001\u3053\u3053\u3067\u306f\u305d\u308d\u305d\u308d\u7b2c2\u6ce2\u306b\u3064\u3044\u3066\u8003\u3048\u59cb\u3081\u3066\u3082\u826f\u3044\u9803\u3060\u308d\u3046\u3002\u4ed6\u4eba\u3088\u308a\u65e9\u304f\u5148\u3092\u8aad\u3080\u3053\u3068\u304c\u6295\u8cc7\u5bb6\u306e\u4ed5\u4e8b\u3060\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u4e16\u754c\u7d4c\u6e08\u306f\u672c\u5f53\u306b\u6c17\u306e\u6ec5\u5165\u308b\u5148\u884c\u304d\u306b\u306a\u3063\u3066\u304d\u305f\u3088\u3046\u3060\u3002\u30ea\u30d5\u30ec\u6d3e\u306e\u4eba\u3005\u306f\u679c\u305f\u3057\u3066\u8cac\u4efb\u3092\u53d6\u308b\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11992\" data-type=\"post\" data-id=\"11992\">\u30cf\u30a4\u30a8\u30af: \u30a4\u30f3\u30d5\u30ec\u4e3b\u7fa9\u306f\u975e\u79d1\u5b66\u7684\u8ff7\u4fe1<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/12051\" data-type=\"post\" data-id=\"12051\">\u30cf\u30a4\u30a8\u30af: \u653f\u5e9c\u304b\u3089\u901a\u8ca8\u767a\u884c\u306e\u72ec\u5360\u6a29\u3092\u5265\u596a\u305b\u3088<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u91d1\u878d\u5e02\u5834\u304c\u30a2\u30e1\u30ea\u30ab\u306e\u7269\u4fa1\u4e0a\u6607\u3092\u61f8\u5ff5\u3057\u59cb\u3081\u3066\u304b\u3089\u6570\u30f6\u6708\u304c\u7d4c\u3064\u304c\u3001\u5b9f\u969b\u4eca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u3069\u3046\u63a8\u79fb\u3057\u3066\u3086\u304f\u3060\u308d\u3046\u304b\u3002\u7b46\u8005\u304c\u3053\u3053\u3067\u8b70\u8ad6\u3057\u305f\u3044\u306e\u306f\u3001\u6050\u3089\u304f\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4e00\u65b9\u7684\u306b\u4e0a\u6607\u3092\u7d9a\u3051\u3066\u3086\u304f\u308f\u3051\u3067\u3082\u306a\u3051\u308c\u3070\u3001\u4e2d\u592e\u9280\u884c\u306e\u5f15\u304d\u7de0\u3081\u3067\u4e00 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/17958\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u73fe\u5728\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u7269\u4fa1\u9ad8\u9a30\u306f\u30a4\u30f3\u30d5\u30ec\u7b2c1\u6ce2\u306b\u904e\u304e\u306a\u3044<\/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":[167],"class_list":["post-17958","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets","tag-inflation"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/17958","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=17958"}],"version-history":[{"count":25,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/17958\/revisions"}],"predecessor-version":[{"id":17987,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/17958\/revisions\/17987"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=17958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=17958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=17958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}