{"id":20733,"date":"2022-03-03T20:02:00","date_gmt":"2022-03-03T11:02:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=20733"},"modified":"2022-03-03T14:27:04","modified_gmt":"2022-03-03T05:27:04","slug":"%e3%83%91%e3%82%a6%e3%82%a8%e3%83%ab%e8%ad%b0%e9%95%b7%e3%82%89%e3%80%81%e3%82%a6%e3%82%af%e3%83%a9%e3%82%a4%e3%83%8a%e5%8d%b1%e6%a9%9f%e3%81%a7%e3%82%823%e6%9c%88%e3%81%ae%e5%88%a9%e4%b8%8a%e3%81%92","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/20733","title":{"rendered":"\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u5371\u6a5f\u3067\u30823\u6708\u306e\u5229\u4e0a\u3052\u65b9\u91dd\u3092\u6539\u3081\u3066\u8868\u660e"},"content":{"rendered":"\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u4e2d\u592e\u9280\u884c\u3067\u3042\u308bFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f3\u67082\u65e5\u306e\u8b70\u4f1a\u8a3c\u8a00\u3067\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u306b\u61f8\u5ff5\u3092\u793a\u3057\u305f\u3082\u306e\u306e\u3001\u4eca\u6708\u306eFOMC\u4f1a\u5408\u306b\u304a\u3051\u308b\u5229\u4e0a\u3052\u65b9\u91dd\u3092\u6539\u3081\u3066\u8868\u660e\u3057\u305f\u3002\u5f53\u305f\u308a\u524d\u3060\u304c\u3001\u30ed\u30b7\u30a2\u306e\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u3067\u3082\u5229\u4e0a\u3052\u3068\u91cf\u7684\u5f15\u304d\u7de0\u3081\u306f\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a6\u30af\u30e9\u30a4\u30ca\u306f\u682a\u5f0f\u5e02\u5834\u306b\u5f71\u97ff\u4e0e\u3048\u305a<\/strong><\/p>\n\n\n\n<p>\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3092\u53d7\u3051\u3001\u30a2\u30e1\u30ea\u30ab\u3084\u65e5\u672c\u306e\u682a\u5f0f\u5e02\u5834\u306f\u591a\u5c11\u52d5\u63fa\u3057\u3066\u3044\u308b\u3002\u7c73\u56fd\u682a\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u6b21\u306e\u3088\u3046\u306b\u63a8\u79fb\u3057\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\/03\/2022-3-3-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"406\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-3-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-20742\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-3-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-3-s-and-p-500-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u3060\u304c\u6700\u521d\u306b\u8ff0\u3079\u305f\u3088\u3046\u306b\u3001\u30ed\u30b7\u30a2\u306e\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u304c\u7c73\u56fd\u682a\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u306f\u307b\u3068\u3093\u3069\u306a\u304f\u3001\u4e0b\u3052\u5e45\u3082\u9650\u5b9a\u7684\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/20260\" data-type=\"post\" data-id=\"20260\">\u4e16\u754c\u540c\u6642\u682a\u5b89\u306e\u539f\u56e0\u306f\u30ed\u30b7\u30a2\u3068\u30a6\u30af\u30e9\u30a4\u30ca\u3067\u306f\u306a\u3044<\/a><\/li><\/ul>\n\n\n\n<p>\u7d50\u5c402022\u5e74\u306e\u682a\u5f0f\u5e02\u5834\u3092\u6c7a\u3081\u308b\u306e\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u7269\u4fa1\u9ad8\u9a30\u3068\u305d\u308c\u306b\u4f34\u3046\u4e2d\u592e\u9280\u884c\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3060\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306e\u8b70\u4f1a\u8a3c\u8a00<\/strong><\/p>\n\n\n\n<p>\u305d\u3046\u3057\u305f\u6700\u4e2d\u3001\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u8b70\u4f1a\u8a3c\u8a00\u3092\u884c\u306a\u3063\u305f\u3002Fed\u306e\u30e1\u30f3\u30d0\u30fc\u306e\u4f55\u4eba\u304b\u306f\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u306e\u4e2d\u3067\u4eca\u5f8c\u306e\u5229\u4e0a\u3052\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u305f\u304c\u3001\u30ed\u30b7\u30a2\u306b\u3088\u308b\u4fb5\u653b\u5f8c\u306b\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u672c\u4eba\u304c\u516c\u306e\u5834\u3067\u8a71\u3057\u305f\u306e\u306f\u521d\u3081\u3066\u3067\u3001\u305d\u306e\u5185\u5bb9\u304c\u5e02\u5834\u306b\u6ce8\u76ee\u3055\u308c\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<p>\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3067\u5229\u4e0a\u3052\u306e\u624b\u304c\u7de9\u307e\u308b\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u3044\u3046\u610f\u898b\u304c\u4e00\u90e8\u3067\u8a00\u308f\u308c\u3066\u3044\u305f\u3002\u7d4c\u6e08\u5b66\u8005\u306e\u30e9\u30ea\u30fc\u30fb\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u306b\u3088\u308b\u539f\u6cb9\u9ad8\u306b\u6ce8\u76ee\u3057\u3001\u30a4\u30f3\u30d5\u30ec\u306f\u30a6\u30af\u30e9\u30a4\u30ca\u306e\u4e00\u6642\u7684\u5f71\u97ff\u3068\u3057\u3066\u4e2d\u592e\u9280\u884c\u304c\u5229\u4e0a\u3052\u3092\u63a7\u3048\u308b\u53ef\u80fd\u6027\u3092\u6307\u6458\u3057\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/20445\" data-type=\"post\" data-id=\"20445\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u30a6\u30af\u30e9\u30a4\u30ca\u554f\u984c\u3067 \u300c\u30a4\u30f3\u30d5\u30ec\u306f\u4e00\u6642\u7684\u300d\u304c\u300c\u30a4\u30f3\u30d5\u30ec\u306f\u539f\u6cb9\u306e\u305b\u3044\u300d\u306b\u9032\u5316\u3059\u308b\u53ef\u80fd\u6027<\/a><\/li><\/ul>\n\n\n\n<p>\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u3069\u3046\u767a\u8a00\u3057\u305f\u3060\u308d\u3046\u304b\uff1f\u3000\u7d50\u679c\u306f\u3068\u8a00\u3048\u3070\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u554f\u984c\u306b\u304b\u304b\u308f\u3089\u305a\u5229\u4e0a\u3052\u7d9a\u884c\u3067\u3042\u308b\u3002\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u30a4\u30f3\u30d5\u30ec\u7387\u304c2%\u3092\u5927\u304d\u304f\u4e0a\u56de\u308a\u3001\u52b4\u50cd\u5e02\u5834\u304c\u5f37\u3044\u73fe\u72b6\u3067\u306f\u3001\u4eca\u6708\u306e\u4f1a\u5408\u3067\u653f\u7b56\u91d1\u5229\u3092\u4e0a\u3052\u308b\u3053\u3068\u304c\u9069\u5207\u3067\u3042\u308b\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u3053\u308c\u3060\u3051\u3092\u898b\u308c\u3070\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u61f8\u5ff5\u306f\u675e\u6182\u3060\u3063\u305f\u3088\u3046\u306b\u898b\u3048\u308b\u3002\u3060\u304c\u91d1\u878d\u5e02\u5834\u3067\u306f\u3053\u3053\u6570\u65e5\u3067\u5229\u4e0a\u3052\u89b3\u6e2c\u306e\u6e1b\u9000\u304c\u898b\u3089\u308c\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3082\u305d\u3082\u91d1\u878d\u5e02\u5834\u3067\u306f\u4eca\u6708\u306e\u4f1a\u5408\u30672\u56de\u5206\uff080.50%\uff09\u306e\u5229\u4e0a\u3052\u304c\u4e00\u6c17\u306b\u884c\u308f\u308c\u308b\u53ef\u80fd\u6027\u3092\u3042\u308b\u7a0b\u5ea6\u7e54\u308a\u8fbc\u3093\u3067\u3044\u305f\u306e\u3060\u304c\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3092\u53d7\u3051\u3066\u73fe\u5728\u306f1\u56de\u5206\uff080.25%\uff09\u306e\u5229\u4e0a\u3052\u306e\u78ba\u7387\u304c99.3%\u3068\u3044\u3046\u7e54\u308a\u8fbc\u307f\u3068\u306a\u308a\u3001\u5e02\u5834\u304c\u5229\u4e0a\u3052\u4e88\u60f3\u3092\u6e1b\u9000\u3055\u305b\u305f\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u4eca\u5f8c2\u5e74\u306e\u5229\u4e0a\u3052\u5e45\u3092\u7e54\u308a\u8fbc\u3093\u3067\u63a8\u79fb\u3059\u308b2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306f\u3053\u308c\u307e\u3067\u6b62\u307e\u308b\u3053\u3068\u306e\u306a\u3044\u4e0a\u6607\u30c8\u30ec\u30f3\u30c9\u3092\u63cf\u3044\u3066\u3044\u305f\u304c\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3092\u53d7\u3051\u3066\u4e00\u6642\u5927\u304d\u306a\u5f8c\u9000\u3092\u3057\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\/03\/2021-3-3-us-2-year-treasrury-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"406\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2021-3-3-us-2-year-treasrury-yield-chart.png\" alt=\"\" class=\"wp-image-20758\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2021-3-3-us-2-year-treasrury-yield-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2021-3-3-us-2-year-treasrury-yield-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u73fe\u72b6\u3067\u306f\u5143\u306e\u9ad8\u5024\u306b\u623b\u308a\u3064\u3064\u3042\u308b\u304c\u30012\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u304c\u3053\u308c\u307e\u3067\u898b\u3089\u308c\u306a\u304b\u3063\u305f\u52d5\u304d\u3092\u898b\u305b\u305f\u306e\u306f\u6ce8\u76ee\u306b\u5024\u3059\u308b\u3002<\/p>\n\n\n\n<p><strong>\u91cf\u7684\u5f15\u304d\u7de0\u3081\u3082\u5b9f\u884c<\/strong><\/p>\n\n\n\n<p>\u307e\u305f\u3001Fed\u306f\u91cf\u7684\u7de9\u548c\u3067\u62e1\u5927\u3057\u305f\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3092\u9006\u306b\u7e2e\u5c0f\u3059\u308b\u91cf\u7684\u5f15\u304d\u7de0\u3081\u3092\u958b\u59cb\u3059\u308b\u30d7\u30e9\u30f3\u30921\u6708\u306b\u767a\u8868\u3057\u3066\u3044\u305f\u3002\u3053\u306e\u91cf\u7684\u5f15\u304d\u7de0\u3081\u306f2018\u5e74\u306b\u682a\u5f0f\u5e02\u5834\u3092\u66b4\u843d\u3055\u305b\u3001\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u5f53\u6642\u64a4\u56de\u3092\u4f59\u5100\u306a\u304f\u3055\u308c\u3066\u3044\u308b\u3002\u3057\u304b\u3057\u4eca\u56de\u306f\u7269\u4fa1\u9ad8\u9a30\u304c\u5dee\u3057\u8feb\u3063\u3066\u3044\u308b\u305f\u3081\u64a4\u56de\u51fa\u6765\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/19181\" data-type=\"post\" data-id=\"19181\">\u30a2\u30e1\u30ea\u30ab\u30012018\u5e74\u306e\u682a\u4fa1\u66b4\u843d\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u91cf\u7684\u5f15\u304d\u7de0\u3081\u3092\u767a\u8868<\/a><\/li><\/ul>\n\n\n\n<p>\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3092\u53d7\u3051\u3066\u91cf\u7684\u5f15\u304d\u7de0\u3081\u306b\u3082\u5f71\u97ff\u304c\u3042\u308b\u304b\u3069\u3046\u304b\u304c\u6ce8\u76ee\u3055\u308c\u3066\u3044\u305f\u304c\u3001\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u4eca\u56de\u306e\u8b70\u4f1a\u8a3c\u8a00\u3067\u6b21\u306e\u3088\u3046\u306b\u518d\u78ba\u8a8d\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u7de9\u548c\u653f\u7b56\u3092\u53d6\u308a\u9664\u304f\u30d7\u30ed\u30bb\u30b9\u3067\u306f\u3001\u653f\u7b56\u91d1\u5229\u306e\u4e0a\u6607\u3068\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306e\u7e2e\u5c0f\u306e\u4e21\u65b9\u304c\u884c\u308f\u308c\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u91cf\u7684\u5f15\u304d\u7de0\u3081\u958b\u59cb\u306e\u6642\u671f\u306b\u3064\u3044\u3066\u306f\u300c\u5229\u4e0a\u3052\u30d7\u30ed\u30bb\u30b9\u304c\u958b\u59cb\u3055\u308c\u305f\u5f8c\u300d\u3068\u3044\u3046\u5f93\u6765\u306e\u767a\u8868\u3092\u8e0f\u8972\u3057\u3066\u304a\u308a\u3001\u3044\u3064\u306a\u306e\u304b\u304c\u4e0d\u660e\u78ba\u3067\u3042\u308b\u3002\u305f\u3060\u3001\u30b5\u30f3\u30d5\u30e9\u30f3\u30b7\u30b9\u30b3\u9023\u9280\u7dcf\u88c1\u306e\u30c7\u30a4\u30ea\u30fc\u6c0f\u304c\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u7e2e\u5c0f\u306f\u6bb5\u968e\u7684\u3067\u4e88\u6e2c\u53ef\u80fd\u306a\u3084\u308a\u65b9\u3067\u884c\u308f\u308c\u308b\u3068\u3057\u3066\u3044\u308b\u306e\u3067\u3001\u958b\u59cb\u524d\u306b\u306f\u3082\u30461\u6bb5\u30a2\u30ca\u30a6\u30f3\u30b9\u304c\u3042\u308b\u306e\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u3084\u306f\u308a\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u306f\u682a\u5f0f\u5e02\u5834\u306b\u306f\u5f71\u97ff\u306f\u306a\u3044\u3057\u3001\u91d1\u878d\u653f\u7b56\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u3053\u3068\u306f\u306a\u3044\u3002\u305f\u3060\u3001\u4eca\u6708\u306e\u5229\u4e0a\u3052\u306f0.25%\u306b\u306a\u308a\u305d\u3046\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u305d\u308c\u3082\u7d50\u5c40\u3001\u682a\u5f0f\u5e02\u5834\u304c\u4e0b\u304c\u3063\u305f\u304b\u3089\u3067\u3042\u308a\u3001\u3042\u308b\u7a0b\u5ea6\u6301\u3061\u76f4\u3057\u305f\u4eca\u306f2\u5e74\u7269\u306e\u91d1\u5229\u3082\u6301\u3061\u76f4\u3057\u3066\u3044\u308b\u3002\u5229\u4e0a\u3052\u306e\u30da\u30fc\u30b9\u306b\u3064\u3044\u3066\u306f\u6226\u4e89\u3067\u306f\u306a\u304f\u682a\u5f0f\u5e02\u5834\u304c\u305d\u308c\u306b\u8010\u3048\u3089\u308c\u308b\u304b\u3069\u3046\u304b\u306b\u3088\u308b\u3002<\/p>\n\n\n\n<p>\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u898b\u305f\u3088\u3046\u306b\u3001\u6226\u4e89\u306b\u5bfe\u3059\u308b\u682a\u5f0f\u5e02\u5834\u306e\u53cd\u5fdc\u306f\u3001\u305d\u306e\u6642\u306e\u5e02\u5834\u304c\u3082\u3068\u3082\u3068\u4e0a\u3052\u76f8\u5834\u3060\u3063\u305f\u304b\u4e0b\u3052\u76f8\u5834\u3060\u3063\u305f\u304b\u306b\u5927\u304d\u304f\u5de6\u53f3\u3055\u308c\u3001\u53cd\u5fdc\u3059\u308b\u6642\u3082\u3042\u308c\u3070\u3057\u306a\u3044\u6642\u3082\u3042\u308b\u3002\u3064\u307e\u308a\u3001\u77ed\u671f\u7684\u306a\u5024\u52d5\u304d\u3092\u898b\u308c\u3070\u4e00\u898b\u6226\u4e89\u306b\u53cd\u5fdc\u3057\u305f\u3088\u3046\u306b\u898b\u3048\u3066\u3082\u3001\u6226\u4e89\u3092\u53e3\u5b9f\u306b\u5143\u3005\u306e\u30c8\u30ec\u30f3\u30c9\u304c\u9855\u5728\u5316\u3057\u3066\u3044\u308b\u3060\u3051\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/20648\" data-type=\"post\" data-id=\"20648\">\u6226\u4e89\u3067\u682a\u4fa1\u306f\u4e0b\u843d\u3059\u308b\u306e\u304b\uff1f\u3000\u6b74\u53f2\u4e0a\u306e\u682a\u4fa1\u30c1\u30e3\u30fc\u30c8\u3092\u632f\u308a\u8fd4\u308b<\/a><\/li><\/ul>\n\n\n\n<p>\u3053\u3046\u3057\u3066\u7d50\u5c40\u30012022\u5e74\u306e\u76f8\u5834\u306f\u300c\u682a\u4fa1\u306f\u3053\u308c\u304b\u3089\u306e\u5f37\u70c8\u306a\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306b\u8010\u3048\u3089\u308c\u308b\u306e\u304b\u300d\u3068\u3044\u3046\u5143\u3005\u306e\u30c6\u30fc\u30de\u306b\u623b\u3063\u3066\u304f\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u7e70\u308a\u8fd4\u3057\u306b\u306a\u308b\u304c\u3001\u7d50\u8ad6\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u308b\u3002\u4eca\u306e7.5%\u306e\u30a4\u30f3\u30d5\u30ec\u3092\u6291\u3048\u308b\u306e\u306b\u5341\u5206\u306a\u5f15\u304d\u7de0\u3081\u306e\u91cf\u306f\u30012018\u5e74\u306b\u5e02\u5834\u3092\u66b4\u843d\u3055\u305b\u305f\u5f15\u304d\u7de0\u3081\u306e\u898f\u6a21\u3092\u8efd\u304f\u4e0a\u56de\u3063\u3066\u3057\u307e\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/19818\" data-type=\"post\" data-id=\"19818\">1969\u5e74\u306e\u7c73\u56fd\u30676%\u306e\u30a4\u30f3\u30d5\u30ec\u3092\u6291\u3048\u308b\u305f\u3081\u306b\u3069\u308c\u3060\u3051\u306e\u5229\u4e0a\u3052\u304c\u5fc5\u8981\u3060\u3063\u305f\u304b<\/a><\/li><\/ul>\n\n\n\n<p>\u4e00\u65b9\u3067\u5341\u5206\u306a\u5f15\u304d\u7de0\u3081\u3092\u884c\u308f\u305a\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304c7.5%\u3067\u3042\u308b\u72b6\u6cc1\u3067\u91d1\u5229\u30921%\u3060\u304b2%\u3060\u304b\u306b\u4fdd\u3061\u7d9a\u3051\u308c\u3070\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4eca\u5e74\u4e2d\u306b2\u6841\u306b\u306a\u3063\u3066\u3086\u304f\u3060\u308d\u3046\u3002\u305d\u306e\u5834\u5408\u30c9\u30eb\u66b4\u843d\u306f\u907f\u3051\u3089\u308c\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u7c73\u56fd\u682a\u306f\uff08\u7279\u306b\u30c9\u30eb\u306e\u5024\u4e0b\u3052\u3092\u8003\u616e\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u65e5\u672c\u306e\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306f\uff09\u65e2\u306b\u8a70\u3093\u3067\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306f\u5e74\u59cb\u306e\u682a\u4fa1\u4e0b\u843d\u524d\u304b\u3089\u8a00\u3044\u7d9a\u3051\u3066\u3044\u308b\u3053\u3068\u3067\u3001\u3053\u306e\u610f\u898b\u3092\u5909\u3048\u308b\u7406\u7531\u306f\u4f55\u3082\u5b58\u5728\u3057\u3066\u3044\u306a\u3044\u3057\u3001\u4eca\u5f8c\u73fe\u308c\u308b\u3053\u3068\u3082\u306a\u3044\u3060\u308d\u3046\u3002\u3053\u306e\u72b6\u6cc1\u3067\u5229\u76ca\u3092\u51fa\u3059\u30c8\u30ec\u30fc\u30c9\u306b\u3064\u3044\u3066\u306f\u4ee5\u4e0b\u306e2\u3064\u306e\u8a18\u4e8b\u3067\u8aac\u660e\u3057\u3066\u3044\u308b\u306e\u3067\u3001\u305d\u3061\u3089\u3092\u53c2\u8003\u306b\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/18949\" data-type=\"post\" data-id=\"18949\">2022\u5e74\u306e\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u6295\u8cc7\u3059\u308b\u65b9\u6cd5<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/19606\" data-type=\"post\" data-id=\"19606\">\u6025\u901f\u306b\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u7e54\u308a\u8fbc\u3080\u91d1\u878d\u5e02\u5834<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u30a2\u30e1\u30ea\u30ab\u306e\u4e2d\u592e\u9280\u884c\u3067\u3042\u308bFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f3\u67082\u65e5\u306e\u8b70\u4f1a\u8a3c\u8a00\u3067\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u306b\u61f8\u5ff5\u3092\u793a\u3057\u305f\u3082\u306e\u306e\u3001\u4eca\u6708\u306eFOMC\u4f1a\u5408\u306b\u304a\u3051\u308b\u5229\u4e0a\u3052\u65b9\u91dd\u3092\u6539\u3081\u3066\u8868\u660e\u3057\u305f\u3002\u5f53\u305f\u308a\u524d\u3060\u304c\u3001\u30ed\u30b7\u30a2\u306e\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u3067\u3082\u5229\u4e0a\u3052 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/20733\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u5371\u6a5f\u3067\u30823\u6708\u306e\u5229\u4e0a\u3052\u65b9\u91dd\u3092\u6539\u3081\u3066\u8868\u660e<\/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":[64,150],"class_list":["post-20733","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets","tag-fed","tag-jerome-powell"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/20733","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=20733"}],"version-history":[{"count":51,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/20733\/revisions"}],"predecessor-version":[{"id":20787,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/20733\/revisions\/20787"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=20733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=20733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=20733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}