{"id":19606,"date":"2022-02-06T19:49:28","date_gmt":"2022-02-06T10:49:28","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=19606"},"modified":"2022-02-06T19:49:31","modified_gmt":"2022-02-06T10:49:31","slug":"%e6%80%a5%e9%80%9f%e3%81%ab%e3%82%b9%e3%82%bf%e3%82%b0%e3%83%95%e3%83%ac%e3%83%bc%e3%82%b7%e3%83%a7%e3%83%b3%e3%82%92%e7%b9%94%e3%82%8a%e8%be%bc%e3%82%80%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/19606","title":{"rendered":"\u6025\u901f\u306b\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u7e54\u308a\u8fbc\u3080\u91d1\u878d\u5e02\u5834"},"content":{"rendered":"\n<p>2022\u5e741\u6708\u304b\u3089\u6025\u843d\u3057\u305f\u682a\u4fa1\u304c\u3042\u308b\u7a0b\u5ea6\u53cd\u8ee2\u3057\u3066\u5b89\u5835\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u3082\u5c45\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u3057\u304b\u3057\u305d\u308c\u306f\u682a\u5f0f\u5e02\u5834\u3060\u3051\u3092\u898b\u305f\u5834\u5408\u306e\u8a71\u3067\u3042\u3063\u3066\u3001\u91d1\u878d\u5e02\u5834\u5168\u4f53\u3092\u898b\u6e21\u3059\u3068\u60b2\u89b3\u304c\u652f\u914d\u3057\u305f\u307e\u307e\u3067\u3042\u308b\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>\u3053\u3053\u306e\u8a18\u4e8b\u3092\u8aad\u3080\u3053\u3068\u306e\u5229\u70b9\u306f\u3001\u65e5\u672c\u306e\u500b\u4eba\u6295\u8cc7\u5bb6\u304c\u666e\u6bb5\u898b\u306a\u3044\u3088\u3046\u306a\u5e02\u5834\u306e\u60c5\u5831\u3092\u63b2\u8f09\u3057\u3066\u3044\u308b\u3053\u3068\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u305d\u3057\u3066\u305d\u3046\u3057\u305f\u60c5\u5831\u306f\u7279\u306b\u4eca\u306e\u76f8\u5834\u3067\u306f\u91cd\u8981\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4f55\u6545\u306a\u3089\u3070\u3001\u73fe\u5728\u306e\u76f8\u5834\u306e\u30c6\u30fc\u30de\u304c\u30a4\u30f3\u30d5\u30ec\u3068\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u3060\u304b\u3089\u3067\u3042\u308b\u3002\u3064\u307e\u308a\u306f\u7d4c\u6e08\u6210\u9577\u7387\u3068\u7269\u4fa1\u4e0a\u6607\u7387\u3067\u3042\u308a\u3001\u305d\u3046\u3057\u305f\u6570\u5b57\u3092\u30c6\u30fc\u30de\u3068\u3059\u308b\u76f8\u5834\u304c\u682a\u5f0f\u5e02\u5834\u306e\u96a3\u306b\u5b58\u5728\u3059\u308b\u3002\u50b5\u5238\u5e02\u5834\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u3068\u50b5\u5238\u5e02\u5834<\/strong><\/p>\n\n\n\n<p>\u50b5\u5238\u5e02\u5834\u306b\u306f\u8272\u3005\u306a\u50b5\u5238\u304c\u5b58\u5728\u3059\u308b\u3002\u30e1\u30a4\u30f3\u3068\u306a\u308b\u306e\u306f\u56fd\u50b5\u3067\u3042\u308a\u3001\u4eca\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u8a71\u306a\u306e\u3067\u7c73\u56fd\u50b5\u306e\u8a71\u3068\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u56fd\u50b5\u306b\u306f\u671f\u9650\u304c\u5b58\u5728\u3059\u308b\u300210\u5e74\u7269\u56fd\u50b5\u306f\u300110\u5e74\u5f8c\u306b\u7c73\u56fd\u653f\u5e9c\u304c\u304a\u91d1\u3092\u8fd4\u3059\u3068\u3044\u3046\u5951\u7d04\u3067\u3042\u308b\u30022\u5e74\u7269\u306a\u30892\u5e74\u5f8c\u3068\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u307e\u305a2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306f\u305d\u308c\u3088\u308a\u671f\u9593\u306e\u77ed\u3044\u653f\u7b56\u91d1\u5229\u3068\u7af6\u5408\u3059\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306e\u5834\u5408\u3001\u653f\u7b56\u91d1\u5229\u306f\u3088\u308a\u77ed\u671f\u306e\u9280\u884c\u9593\u306e\u8cb8\u3057\u501f\u308a\u306e\u30ec\u30fc\u30c8\u306a\u306e\u3067\u3001\u9280\u884c\u306f\u77ed\u671f\u56fd\u50b5\u306e\u91d1\u5229\u304c\u653f\u7b56\u91d1\u5229\u3088\u308a\u9ad8\u3044\u3068\u56fd\u50b5\u306b\u4e57\u308a\u63db\u3048\u3088\u3046\u3068\u3057\u3001\u9006\u306b\u4f4e\u3044\u3068\u653f\u7b56\u91d1\u5229\u306b\u4e57\u308a\u63db\u3048\u3088\u3046\u3068\u3059\u308b\u3002<\/p>\n\n\n\n<p>\u3057\u305f\u304c\u3063\u30662\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u3068\u3053\u308c\u304b\u30892\u5e74\u9593\u306e\u653f\u7b56\u91d1\u5229\u306f\u7af6\u5408\u3057\u30012\u5e74\u7269\u56fd\u50b5\u306f\u4eca\u5f8c\u306e\u653f\u7b56\u91d1\u5229\u306e\u5e02\u5834\u4e88\u60f3\u3092\u793a\u3059\u3088\u3046\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u3088\u308a\u671f\u9593\u306e\u9577\u304410\u5e74\u7269\u56fd\u50b5\u308430\u5e74\u7269\u56fd\u50b5\u306f\u3069\u3046\u3060\u308d\u3046\u304b\uff1f\u3000\u671f\u9593\u304c\u9577\u3044\u307b\u3069\u304a\u91d1\u304c\u8fd4\u3063\u3066\u304f\u308b\u304b\u304c\u4e0d\u78ba\u304b\u306a\u306e\u3067\u3001\u901a\u5e38\u306e\u5e02\u5834\u3067\u306f\u77ed\u671f\u56fd\u50b5\u3088\u308a\u3082\u9577\u671f\u56fd\u50b5\u306e\u91d1\u5229\u304c\u9ad8\u304f\u306a\u308b\u3002\u3088\u308a\u9ad8\u3044\u30ea\u30bf\u30fc\u30f3\u304c\u306a\u3051\u308c\u3070\u3001\u6295\u8cc7\u5bb6\u306f\u3088\u308a\u30ea\u30b9\u30af\u306e\u9ad8\u3044\u3082\u306e\u306b\u306f\u6295\u8cc7\u3057\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u77ed\u671f\u91d1\u5229\u3068\u9577\u671f\u91d1\u5229\u306e\u9055\u3044<\/strong><\/p>\n\n\n\n<p>\u307e\u305a\u4eca\u5f8c\u306e\u653f\u7b56\u91d1\u5229\u3092\u4e88\u60f3\u3057\u3066\u52d5\u304f2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u304c\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u304b\u3092\u898b\u3066\u307f\u3088\u3046\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-2-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"447\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-2-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-19619\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-2-year-treasury-bond-yield-chart.png 447w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-2-year-treasury-bond-yield-chart-287x300.png 287w\" sizes=\"auto, (max-width: 447px) 100vw, 447px\" \/><\/a><\/figure>\n\n\n\n<p>\u3053\u306e\u30c1\u30e3\u30fc\u30c8\u3082\u4f55\u5ea6\u3082\u51fa\u3057\u3066\u3044\u308b\u304c\u5e38\u306b\u53f3\u80a9\u4e0a\u304c\u308a\u304c\u6b62\u307e\u3063\u3066\u3044\u306a\u3044\u3002\u5e02\u5834\u306f\u30a2\u30e1\u30ea\u30ab\u3067\u9ad8\u9a30\u3059\u308b\u7269\u4fa1\u306b\u5f93\u3063\u3066\u4eca\u5f8c\u306e\u5229\u4e0a\u3052\u4e88\u60f3\u3092\u4e0a\u65b9\u4fee\u6b63\u3057\u7d9a\u3051\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u73fe\u72b6\u3001\u50b5\u5238\u5e02\u5834\u306f\u5e74\u5185\u306e\u5229\u4e0a\u3052\u56de\u6570\u30925\u56de\u307e\u305f\u306f6\u56de\u3068\u7e54\u308a\u8fbc\u3093\u3067\u3044\u308b\u3002\u3053\u308c\u306f\u307e\u3060\u5897\u3048\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3055\u3066\u3001\u77ed\u671f\u91d1\u5229\u304c\u653f\u7b56\u91d1\u5229\u306b\u4f9d\u5b58\u3059\u308b\u4e00\u65b9\u3067\u3001\u9577\u671f\u91d1\u5229\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u3068\u7d4c\u6e08\u6210\u9577\u7387\u306b\u5de6\u53f3\u3055\u308c\u308b\u3002\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u9ad8\u3051\u308c\u3070\u6295\u8cc7\u5bb6\u306f\u3088\u308a\u9ad8\u3044\u30ea\u30bf\u30fc\u30f3\u3092\u50b5\u5238\u306b\u6c42\u3081\uff08\u30a4\u30f3\u30d5\u30ec\u3088\u308a\u9ad8\u3044\u30ea\u30bf\u30fc\u30f3\u304c\u306a\u3051\u308c\u3070\u50b5\u5238\u6295\u8cc7\u3067\u5b9f\u8cea\u7684\u306b\u640d\u3092\u3057\u3066\u3057\u307e\u3046\uff09\u3001\u7d4c\u6e08\u304c\u6210\u9577\u3057\u3066\u3044\u308c\u3070\u8cb8\u3057\u305f\u304a\u91d1\u304c\u7121\u4e8b\u8fd4\u3063\u3066\u304f\u308b\u53ef\u80fd\u6027\u3082\u9ad8\u307e\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u3088\u3063\u3066\u9577\u671f\u91d1\u5229\u306f\u6b21\u306e\u5f0f\u306b\u8fd1\u4f3c\u3059\u308b\u3068\u8a00\u308f\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>\u9577\u671f\u91d1\u5229 = \u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387 + \u671f\u5f85\u5b9f\u8cea\u7d4c\u6e08\u6210\u9577\u7387<\/li><\/ul>\n\n\n\n<p>\u3067\u306f\u3053\u306e\u9577\u671f\u91d1\u5229\u304c\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u304b\u3068\u8a00\u3048\u3070\u3001\u6b21\u306e\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"436\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-19626\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-chart.png 436w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-chart-279x300.png 279w\" sizes=\"auto, (max-width: 436px) 100vw, 436px\" \/><\/a><\/figure>\n\n\n\n<p>\u4e0a\u304c\u3063\u3066\u306f\u3044\u308b\u304c\u3001\u53bb\u5e74\u6625\u306e\u6c34\u6e96\u3068\u4eca\u306e\u6c34\u6e96\u304c\u305d\u308c\u307b\u3069\u5909\u308f\u3089\u306a\u3044\u306a\u3069\u30012\u5e74\u7269\u56fd\u50b5\u306e\u4e00\u672c\u8abf\u5b50\u306e\u4e0a\u3052\u306b\u6bd4\u3079\u3066\u982d\u3092\u6291\u3048\u3089\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u4f55\u6545\u304b\u3002\u4e0a\u306e\u5f0f\u3092\u898b\u308c\u3070\u3001\u3053\u306e\u9593\u30a4\u30f3\u30d5\u30ec\u7387\u306f7%\u3092\u8d85\u3048\u308b\u306a\u3069\u5e02\u5834\u306e\u30a4\u30f3\u30d5\u30ec\u671f\u5f85\u306f\u4e0a\u304c\u308a\u7d9a\u3051\u3066\u3044\u308b\u306e\u3067\u3001\u305d\u306e\u5206\u7d4c\u6e08\u6210\u9577\u7387\u306e\u671f\u5f85\u5024\u304c\u4e0b\u304c\u308a\u7d9a\u3051\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p><strong>\u4e88\u60f3\u3055\u308c\u308b2022\u5e74\u306e\u9006\u30a4\u30fc\u30eb\u30c9<\/strong><\/p>\n\n\n\n<p>\u3053\u306e\u3088\u3046\u306b\u30a4\u30f3\u30d5\u30ec\u5bfe\u7b56\u306e\u5229\u4e0a\u3052\u3067\u77ed\u671f\u91d1\u5229\u304c\u4e0a\u6607\u3059\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u666f\u6c17\u5f8c\u9000\u61f8\u5ff5\u304b\u3089\u9577\u671f\u91d1\u5229\u304c\u4e0a\u304c\u3089\u306a\u3044\u3068\u304d\u3001\u77ed\u671f\u91d1\u5229\u304c\u9577\u671f\u91d1\u5229\u3088\u308a\u9ad8\u304f\u306a\u308b\u3053\u3068\u304c\u3042\u308b\u3002\u9577\u77ed\u91d1\u5229\u5dee\u306e\u9006\u8ee2\u3001\u3044\u308f\u3086\u308b\u9006\u30a4\u30fc\u30eb\u30c9\uff08\u30a4\u30fc\u30eb\u30c9\u306f\u91d1\u5229\u306e\u610f\uff09\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306f\u91d1\u5229\u304c\u77ed\u671f\u7684\u306b\u306f\u4e0a\u6607\u3059\u308b\u304c\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306e\u884c\u304d\u904e\u304e\u304c\u682a\u4fa1\u66b4\u843d\u3084\u666f\u6c17\u5f8c\u9000\u3092\u5f15\u304d\u8d77\u3053\u3057\u3001\u305d\u306e\u5f8c\u4e0b\u304c\u308b\u3068\u3044\u3046\u3053\u3068\u3092\u7e54\u308a\u8fbc\u3093\u3067\u3044\u308b\u3068\u3082\u898b\u3089\u308c\u308b\u3002<\/p>\n\n\n\n<p>\u6b74\u53f2\u4e0a\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u308b\u3068\u3001\u5358\u306a\u308b\u666f\u6c17\u5f8c\u9000\u306a\u3089\u9577\u77ed\u91d1\u5229\u5dee\u306f\u30bc\u30ed\u306b\u306a\u308b\u304c\u3001\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306a\u3089\u9577\u77ed\u91d1\u5229\u5dee\u306f\u30de\u30a4\u30ca\u30b9\u3068\u306a\u3063\u3066\u9006\u30a4\u30fc\u30eb\u30c9\u3068\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u4ee5\u4e0b\u306e\u9577\u77ed\u91d1\u5229\u5dee\uff0810\u5e74\u7269\u91d1\u5229\u304b\u30892\u5e74\u7269\u91d1\u5229\u3092\u5f15\u3044\u305f\u3082\u306e\uff09\u306e\u30c1\u30e3\u30fc\u30c8\u306e\u3046\u3061\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304c2\u6841\u307e\u3067\u4e0a\u6607\u3057\u305f1980\u5e74\u524d\u5f8c\u306e\u90e8\u5206\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\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"496\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-19636\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield-chart.png 496w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield-chart-300x283.png 300w\" sizes=\"auto, (max-width: 496px) 100vw, 496px\" \/><\/a><\/figure>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u77ed\u671f\u91d1\u5229\u3092\u4e0b\u3052\u3089\u308c\u306a\u3044\u4e00\u65b9\u3067\u9577\u671f\u91d1\u5229\u304c\u77ed\u671f\u91d1\u5229\u4ee5\u4e0a\u306b\u6025\u843d\u3059\u308b\u306e\u3067\u3001\u9577\u77ed\u91d1\u5229\u5dee\u304c\u4e0b\u306b\u6c88\u3080\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u30bc\u30ed\u306b\u5230\u9054\u3057\u305f\u4ed6\u306e\u671f\u9593\u306b\u304a\u3044\u3066\u3082\u3001\u305d\u306e\u5f8c\u3059\u3050\u306b\u666f\u6c17\u5f8c\u9000\uff08\u7070\u8272\u306e\u90e8\u5206\uff09\u306b\u7a81\u5165\u3057\u3066\u3044\u308b\u3053\u3068\u306b\u3082\u6ce8\u76ee\u3057\u305f\u3044\u3002\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/19273\" data-type=\"post\" data-id=\"19273\">\u8cc7\u672c\u4e3b\u7fa9\u8005\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u878d\u7de9\u548c\u7d42\u4e86\u3092\u6b53\u8fce<\/a><\/li><\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u91d1\u5229\u64cd\u4f5c\u306e\u6642\u4ee3\u4ee5\u524d\u306b\u306f\u3001\u50b5\u5238\u5e02\u5834\u3068\u91d1\u5229\u306f\u308f\u305f\u3057\u308495%\u306e\u7d4c\u6e08\u5b66\u8005\u306a\u3069\u3088\u308a\u3082\u512a\u308c\u305f\u666f\u6c17\u898b\u901a\u3057\u306e\u4e88\u60f3\u8005\u3060\u3063\u305f\u3002<\/p><\/blockquote>\n\n\n\n<p>\u3060\u304c\u91d1\u5229\u64cd\u4f5c\u306e\u6642\u4ee3\u306b\u304a\u3044\u3066\u3082\u3053\u308c\u306f\u7d20\u6674\u3089\u3057\u3044\u7684\u4e2d\u7cbe\u5ea6\u3060\u3068\u8a00\u3048\u308b\u3060\u308d\u3046\u3002\u50b5\u5238\u5e02\u5834\u306f\u682a\u5f0f\u5e02\u5834\u3068\u9055\u3044\u3001\u975e\u5e38\u306b\u7406\u6027\u7684\u306a\u5e02\u5834\u306a\u306e\u3067\u3042\u308b\u3002\u305d\u3053\u304c\u50b5\u5238\u306e\u9762\u767d\u3044\u3068\u3053\u308d\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u8fd1\u3065\u304f\u50b5\u5238\u5e02\u5834<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u3067\u306f\u666f\u6c17\u5f8c\u9000\u3092\u9ad8\u78ba\u7387\u3067\u4e88\u60f3\u3059\u308b\u9577\u77ed\u91d1\u5229\u5dee\u306f\u3001\u3053\u3053\u4f55\u65e5\u304b\u306e\u682a\u4fa1\u53cd\u767a\u3067\u3069\u3046\u52d5\u3044\u3066\u3044\u308b\u3060\u308d\u3046\u304b\uff1f\u3000\u76f4\u8fd1\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u63b2\u8f09\u3057\u3088\u3046\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield.png\"><img loading=\"lazy\" decoding=\"async\" width=\"496\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield.png\" alt=\"\" class=\"wp-image-19647\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield.png 496w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield-300x283.png 300w\" sizes=\"auto, (max-width: 496px) 100vw, 496px\" \/><\/a><\/figure>\n\n\n\n<p>\u682a\u4fa1\u53cd\u767a\u306a\u3069\u304a\u69cb\u3044\u306a\u3057\u306b\u4e0b\u3092\u76ee\u6307\u3057\u7d9a\u3051\u3066\u3044\u308b\u3002\u3053\u308c\u304c\u91d1\u878d\u5e02\u5834\u306b\u304a\u3051\u308b\u672c\u5f53\u306b\u7406\u6027\u7684\u306a\u76ee\u3067\u3042\u308a\u3001\u3053\u308c\u304c\u771f\u5b9f\u3060\u308d\u3046\u3002\u682a\u4fa1\u53cd\u767a\u3067\u5b89\u5835\u3057\u3066\u3044\u305f\u6295\u8cc7\u5bb6\u3082\u3001\u3053\u308c\u3092\u898b\u308c\u3070\u8003\u3048\u3092\u5909\u3048\u308b\u306e\u3067\u306f\u306a\u3044\u304b\u3002\u666f\u6c17\u5f8c\u9000\u307e\u3067\u3042\u30680.6%\u307e\u3067\u8fd1\u3065\u3044\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u3068\u3044\u3046\u3053\u3068\u3067\u3001\u91d1\u878d\u5e02\u5834\u306f\u682a\u4fa1\u53cd\u767a\u306b\u304a\u69cb\u3044\u306a\u304f\u666f\u6c17\u306e\u589c\u843d\u3092\u7e54\u308a\u8fbc\u307f\u7d9a\u3051\u3066\u3044\u308b\u3002\u682a\u4fa1\u3060\u3051\u304c\u751f\u304d\u6b8b\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u6709\u308a\u5f97\u306a\u3044\u3060\u308d\u3046\u3002\u5e74\u59cb\u306e\u4e88\u60f3\u3092\u7d99\u7d9a\u3059\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/18367\" data-type=\"post\" data-id=\"18367\">2022\u5e74\u306e\u682a\u5f0f\u5e02\u5834\u306f\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3067\u66b4\u843d\u3059\u308b (2022\/1\/6)<\/a><\/li><\/ul>\n\n\n\n<p>\u554f\u984c\u306f\u9577\u77ed\u91d1\u5229\u5dee\u304c\u666f\u6c17\u5f8c\u9000\u306e\u6c34\u6e96\uff08\u30bc\u30ed\uff09\u3067\u6b62\u307e\u308b\u306e\u304b\u3001\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306e\u6c34\u6e96\uff08\u5927\u5e45\u30de\u30a4\u30ca\u30b9\uff09\u307e\u3067\u884c\u304f\u306e\u304b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u9577\u671f\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u3082\u3046\u4e00\u5ea6\u63b2\u8f09\u3057\u3088\u3046\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"496\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-19636\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield-chart.png 496w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/02\/2022-2-6-us-10-year-treasury-bond-yield-minus-2-year-treasury-bond-yield-chart-300x283.png 300w\" sizes=\"auto, (max-width: 496px) 100vw, 496px\" \/><\/a><\/figure>\n\n\n\n<p>\u7b46\u8005\u306e\u4e88\u60f3\u306f\u5f53\u7136\u30de\u30a4\u30ca\u30b9\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f7%\u3092\u8d8a\u3048\u3066\u3044\u308b\u3002\u3053\u308c\u306f\u30b3\u30ed\u30ca\u30b7\u30e7\u30c3\u30af\uff082020\u5e74\uff09\u3084\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\uff082008\u5e74\uff09\u3084\u30c9\u30c3\u30c8\u30b3\u30e0\u30d0\u30d6\u30eb\u5d29\u58ca\uff082000\u5e74\uff09\u3068\u306f\u9055\u3046\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/18620\" data-type=\"post\" data-id=\"18620\">\u30b3\u30ed\u30ca\u8513\u5ef6\u3067\u3082\u30a4\u30f3\u30d5\u30ec\u6b62\u307e\u3089\u305a\u300112\u6708\u7c73\u7269\u4fa1\u4e0a\u6607\u7387\u306f7.1%<\/a><\/li><\/ul>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u50b5\u5238\u5e02\u5834\u3067\u306f\u50b5\u5238\u3092\u58f2\u8cb7\u3059\u308b\u3053\u3068\u304c\u51fa\u6765\u308b\u306e\u3067\u3001\u4ee5\u4e0b\u306e\u8a18\u4e8b\u304b\u3089\u3053\u306e\u30b7\u30ca\u30ea\u30aa\u306b\u8ced\u3051\u7d9a\u3051\u3066\u3044\u308b\u7b46\u8005\u306f\u5229\u76ca\u3092\u4e0a\u3052\u7d9a\u3051\u3066\u304a\u308a\u3001\u3057\u304b\u3082\u307e\u3060\u5229\u76ca\u306e\u4f59\u5730\u306f\u5927\u304d\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/15210\" data-type=\"post\" data-id=\"15210\">\u9577\u671f\u91d1\u5229\u3068\u30c6\u30fc\u30d1\u30ea\u30f3\u30b0\u306e\u95a2\u4fc2\u3001\u4eca\u5f8c\u306e\u63a8\u79fb\u4e88\u60f3 (2021\/9\/5)<\/a><\/li><\/ul>\n\n\n\n<p>\u73fe\u72b6\u306f\u3053\u306e\u8a18\u4e8b\u306b\u66f8\u3044\u305f\u305d\u306e\u307e\u307e\u306e\u72b6\u6cc1\u3067\u3042\u308a\u3001\u53bb\u5e74\u306e\u79cb\u304b\u3089\u4eca\u306e\u72b6\u6cc1\u306f\u5f53\u305f\u308a\u524d\u3060\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u7279\u306b\u610f\u898b\u3092\u5909\u3048\u308b\u8981\u7d20\u306f\u4f55\u3082\u306a\u3044\u3002\u9577\u77ed\u91d1\u5229\u5dee\u306f\u6de1\u3005\u3068\u4e0b\u304c\u308a\u7d9a\u3051\u3001\u898b\u4e8b\u306b\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u307e\u3067\u884c\u3063\u3066\u3057\u307e\u3046\u3060\u308d\u3046\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2022\u5e741\u6708\u304b\u3089\u6025\u843d\u3057\u305f\u682a\u4fa1\u304c\u3042\u308b\u7a0b\u5ea6\u53cd\u8ee2\u3057\u3066\u5b89\u5835\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u3082\u5c45\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u3057\u304b\u3057\u305d\u308c\u306f\u682a\u5f0f\u5e02\u5834\u3060\u3051\u3092\u898b\u305f\u5834\u5408\u306e\u8a71\u3067\u3042\u3063\u3066\u3001\u91d1\u878d\u5e02\u5834\u5168\u4f53\u3092\u898b\u6e21\u3059\u3068\u60b2\u89b3\u304c\u652f\u914d\u3057\u305f\u307e\u307e\u3067\u3042\u308b\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/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-19606","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\/19606","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=19606"}],"version-history":[{"count":63,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/19606\/revisions"}],"predecessor-version":[{"id":19674,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/19606\/revisions\/19674"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=19606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=19606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=19606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}