{"id":21156,"date":"2022-03-10T20:05:00","date_gmt":"2022-03-10T11:05:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=21156"},"modified":"2022-03-13T19:30:25","modified_gmt":"2022-03-13T10:30:25","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e5%8e%9f%e6%b2%b9%e4%be%a1%e6%a0%bc%e3%81%af%e5%80%8d%e3%81%ae200%e3%83%89%e3%83%ab%e3%81%be%e3%81%a7%e4%b8%8a%e6%98%87%e3%81%99","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/21156","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u539f\u6cb9\u4fa1\u683c\u306f\u500d\u306e200\u30c9\u30eb\u307e\u3067\u4e0a\u6607\u3059\u308b"},"content":{"rendered":"\n<p>\u6050\u3089\u304f\u306f\u305d\u306e\u898b\u65b9\u304c\u59a5\u5f53\u306a\u306e\u3060\u308d\u3046\u3002DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cMagnifi\u306b\u3088\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001\u30ed\u30b7\u30a2\u306e\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u3092\u53d7\u3051\u3066\u6025\u9a30\u3057\u3066\u3044\u308b\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u306b\u30b3\u30e1\u30f3\u30c8\u3057\u305f\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u539f\u6cb9\u4fa1\u683c\u9ad8\u9a30<\/strong><\/p>\n\n\n\n<p>\u539f\u6cb9\u4fa1\u683c\u304c\u4e0a\u6607\u3057\u3066\u3044\u308b\u3002\u307e\u305a\u306f\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\/03\/2022-3-10-wti-crude-oil-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"406\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-10-wti-crude-oil-chart.png\" alt=\"\" class=\"wp-image-21183\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-10-wti-crude-oil-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-10-wti-crude-oil-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u6628\u65e5\u306fOPEC\u304c\u5897\u7523\u306e\u59ff\u52e2\u3092\u8868\u660e\u3057\u305f\u305f\u3081\u4e00\u6642\u7684\u306b\u4e0b\u304c\u3063\u305f\u304c\u3001\u6050\u3089\u304f\u4e00\u6642\u7684\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u539f\u6cb9\u4fa1\u683c\u9ad8\u9a30\u306f\u30ac\u30bd\u30ea\u30f3\u4fa1\u683c\u306a\u3069\u3092\u901a\u3057\u3066\u6d88\u8cbb\u8005\u306e\u751f\u6d3b\u306b\u306e\u3057\u304b\u304b\u3063\u3066\u3044\u308b\u304c\u3001\u4fa1\u683c\u4e0a\u6607\u3067\u56f0\u60d1\u3059\u308b\u4eba\u3005\u306b\u5bfe\u3057\u3066\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a00\u3046\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u73fe\u72b6\u306e\u30ac\u30bd\u30ea\u30f3\u4fa1\u683c\u306b\u4e0d\u6e80\u3092\u8a00\u3063\u3066\u3044\u308b\u4eba\u306f\u4f55\u3082\u898b\u3048\u3066\u3044\u306a\u3044\u3002<\/p><p>1\u30d0\u30ec\u30eb200\u30c9\u30eb\u3060\u3002\u539f\u6cb9\u4fa1\u683c\u306f\u305d\u3053\u307e\u3067\u4e0a\u304c\u308b\u3060\u308d\u3046\u3002<\/p><\/blockquote>\n\n\n\n<p>200\u30c9\u30eb\u3068\u8a00\u3048\u3070\u73fe\u5728\u306e\u6c34\u6e96\u304b\u3089\u307b\u3068\u3093\u3069\u500d\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u4e0a\u6607\u306e\u7406\u7531<\/strong><\/p>\n\n\n\n<p>\u539f\u6cb9\u4e0a\u6607\u306e\u7406\u7531\u306f\u3001\u8131\u70ad\u7d20\u653f\u7b56\u3067\u5316\u77f3\u71c3\u6599\u304c\u5143\u3005\u8db3\u308a\u306a\u304b\u3063\u305f\u3068\u3053\u308d\u306b\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u306b\u4fb5\u653b\u3057\u305f\u30ed\u30b7\u30a2\u3078\u306e\u5236\u88c1\u63aa\u7f6e\u3068\u3057\u3066\u30ed\u30b7\u30a2\u306e\u539f\u6cb9\u3084\u5929\u7136\u30ac\u30b9\u306b\u7981\u8f38\u63aa\u7f6e\u304c\u639b\u3051\u3089\u308c\u59cb\u3081\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/16442\" data-type=\"post\" data-id=\"16442\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u3092\u9ad8\u9a30\u3055\u305b\u308b\u8131\u70ad\u7d20\u653f\u7b56\u306f\u5065\u5168\u3067\u306f\u306a\u3044<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/19092\" data-type=\"post\" data-id=\"19092\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u3001\u74b0\u5883\u30b5\u30df\u30c3\u30c8\u3067\u8131\u70ad\u7d20\u306b\u8b66\u9418\u3001\u539f\u6cb9\u696d\u8005\u3092\u8cdb\u7f8e<\/a><\/li><\/ul>\n\n\n\n<p>\u5831\u9053\u3067\u306f\u610f\u56f3\u7684\u306b\u96a0\u3055\u308c\u3066\u3044\u308b\u306e\u3067\u77e5\u3089\u306a\u3044\u4eba\u3082\u591a\u3044\u3068\u601d\u3046\u306e\u3060\u304c\u3001\u8131\u70ad\u7d20\u653f\u7b56\u3068\u306f\u7a4d\u6975\u7684\u306b\u518d\u751f\u53ef\u80fd\u30a8\u30cd\u30eb\u30ae\u30fc\u3092\u4f7f\u3063\u3066\u3086\u304f\u3060\u3051\u306e\u653f\u7b56\u3067\u306f\u306a\u304f\u3001\u539f\u6cb9\u95a2\u9023\u4f01\u696d\u3078\u306e\u878d\u8cc7\u3092\u7981\u6b62\u3059\u308b\u306a\u3069\u3057\u3066\u5316\u77f3\u71c3\u6599\u306e\u751f\u7523\u3092\u610f\u56f3\u7684\u306b\u30b9\u30c8\u30c3\u30d7\u3055\u305b\u308b\u653f\u7b56\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4e0a\u8a18\u306e\u3088\u3046\u306b\u7d4c\u6e08\u5b66\u8005\u306e\u30b5\u30de\u30fc\u30ba\u6c0f\u3084\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u306e\u30c0\u30ea\u30aa\u6c0f\u306a\u3069\u3001\u7d4c\u6e08\u306b\u95a2\u3059\u308b\u4e16\u754c\u7684\u30a8\u30ad\u30b9\u30d1\u30fc\u30c8\u304c\u653f\u6cbb\u7684\u306a\u4eba\u3005\u304c\u7121\u7406\u77e2\u7406\u63a8\u3057\u9032\u3081\u305f\u8131\u70ad\u7d20\u3092\u6279\u5224\u3057\u3066\u3044\u305f\u304c\u3001\u5f53\u7136\u306e\u3088\u3046\u306b\u305d\u3053\u306b\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3082\u52a0\u308f\u3063\u305f\u3088\u3046\u3060\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u308f\u308c\u308f\u308c\u306f\u9593\u9055\u3044\u306a\u304f\u30a8\u30cd\u30eb\u30ae\u30fc\u653f\u7b56\u306b\u95a2\u3057\u3066\u9177\u3044\u9593\u9055\u3044\u3092\u3057\u3066\u3044\u308b\u3002\u5316\u77f3\u71c3\u6599\u3068\u3068\u3082\u306b\u3042\u308b\u672a\u6765\u3092\u5acc\u3046\u3053\u3068\u3092\u6c7a\u3081\u305f\u304c\u3001\u73fe\u72b6\u306e\u81a8\u5927\u306a\u5316\u77f3\u71c3\u6599\u306e\u4f7f\u7528\u3092\u5225\u306e\u30a8\u30cd\u30eb\u30ae\u30fc\u8cc7\u6e90\u306b\u8ee2\u63db\u3059\u308b\u305f\u3081\u306e\u30d7\u30e9\u30f3\u3092\u6301\u3061\u5408\u308f\u305b\u3066\u3044\u306a\u3044\u3002<\/p><p>\u3060\u304b\u3089\u4eca\u306e\u30a8\u30cd\u30eb\u30ae\u30fc\u4e0d\u8db3\u304c\u8d77\u3053\u3063\u3066\u304a\u308a\u3001\u5c06\u6765\u306e\u30b0\u30ea\u30fc\u30f3\u30a8\u30ca\u30b8\u30fc\u3078\u306e\u9053\u306b\u8fbf\u308a\u7740\u304f\u305f\u3081\u306b\u3088\u308a\u591a\u304f\u306e\u5316\u77f3\u71c3\u6599\u3092\u5fc5\u8981\u3068\u3059\u308b\u3068\u3044\u3046\u5947\u5999\u306a\u8ee2\u63db\u306b\u9665\u308b\u3060\u308d\u3046\u3002<\/p><\/blockquote>\n\n\n\n<p>\u30b0\u30ea\u30fc\u30f3\u306a\u4eba\u3005\u306f\u539f\u6cb9\u306e\u751f\u7523\u3092\u6b62\u3081\u308c\u3070\u539f\u6cb9\u4fa1\u683c\u304c\u9ad8\u9a30\u3059\u308b\u3068\u3044\u3046\u5f53\u305f\u308a\u524d\u306e\u4e8b\u5b9f\u306b\u6c17\u4ed8\u304b\u306a\u304b\u3063\u305f\u3088\u3046\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306b\u3088\u308c\u3070\u3001\u5f7c\u3089\u306e\u884c\u3044\u306f\u7d4c\u6e08\u5168\u4f53\u306e\u5d29\u58ca\u306b\u7e4b\u304c\u308a\u305d\u3046\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u6b74\u53f2\u7684\u306b\u306f\u3001\u30aa\u30a4\u30eb\u30b7\u30e7\u30c3\u30af\u306f\u9700\u8981\u5d29\u58ca\u3092\u5f15\u304d\u8d77\u3053\u3057\u3001\u666f\u6c17\u5f8c\u9000\u306b\u7e4b\u304c\u3063\u3066\u304d\u305f\u3002\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u3068\u3044\u3046\u8a00\u8449\u304c\u3069\u3093\u3069\u3093\u805e\u304b\u308c\u308b\u3088\u3046\u306b\u306a\u3063\u3066\u304d\u3066\u3044\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e200\u30c9\u30eb\u3068\u3044\u3046\u30bf\u30fc\u30b2\u30c3\u30c8\u306f\u73fe\u5728\u306e\u4fa1\u683c\u304b\u3089\u898b\u308c\u3070\u304b\u306a\u308a\u9ad8\u3044\u3082\u306e\u306b\u898b\u3048\u308b\u3002\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u6642\u306e\u9ad8\u5024\u304c150\u30c9\u30eb\u4ed8\u8fd1\u306a\u306e\u3067\u3001\u305d\u308c\u3092\u8efd\u304f\u8d8a\u3048\u3066\u3086\u304f\u3068\u3044\u3046\u3053\u3068\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\/2022\/03\/2022-3-10-wti-crude-oil-long-term-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"406\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-10-wti-crude-oil-long-term-chart.png\" alt=\"\" class=\"wp-image-21184\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-10-wti-crude-oil-long-term-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-10-wti-crude-oil-long-term-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u3057\u304b\u3057\u5c0f\u9ea6\u306e\u8a18\u4e8b\u3067\u3082\u66f8\u3044\u305f\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u6700\u5927\u30675.5%\u3060\u3063\u305f\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u524d\u306e\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u30d0\u30d6\u30eb\u3092\u30a4\u30f3\u30d5\u30ec\u7387\u304c7.5%\u3067\u3044\u307e\u3060\u5929\u4e95\u3067\u306f\u306a\u3044\u73fe\u5728\u306e\u76f8\u5834\u304c\u8efd\u304f\u8d8a\u3048\u3066\u3086\u304b\u306d\u3070\u306a\u3089\u306a\u3044\u306e\u306f\u5b8c\u5168\u306b\u7406\u306b\u304b\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\/20954\" data-type=\"post\" data-id=\"20954\">\u30a6\u30af\u30e9\u30a4\u30ca\u5371\u6a5f\u3067\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u4fa1\u683c\u9ad8\u9a30\u3001\u5c0f\u9ea6\u3092\u4e00\u90e8\u5229\u78ba\u3057\u3066\u30b7\u30eb\u30d0\u30fc\u8cb7\u3044<\/a><\/li><\/ul>\n\n\n\n<p>\u3060\u304b\u3089\u7b46\u8005\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u5e74\u59cb\u304b\u3089\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306e\u8cb7\u3044\u3092\u63a8\u5968\u3057\u3066\u3044\u305f\u306e\u3067\u3042\u308b\u3002\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306f\u3053\u3053\u304b\u3089\u66f4\u306b\u4e0a\u304c\u308b\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 (2022\/1\/20)<\/a><\/li><\/ul>\n\n\n\n<p>\u3057\u304b\u3057\u305d\u308d\u305d\u308d\u6295\u8cc7\u5bb6\u3068\u3057\u3066\u3060\u3051\u3067\u306f\u306a\u304f\u6d88\u8cbb\u8005\u3068\u3057\u3066\u3082\u672c\u683c\u7684\u306b\u7269\u4fa1\u9ad8\u9a30\u306b\u5099\u3048\u308b\u3079\u304d\u306a\u306e\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u8aad\u8005\u306b\u3082\u305d\u308c\u3092\u304a\u52e7\u3081\u3059\u308b\u3002\u4eba\u3005\u306f\u8131\u70ad\u7d20\u653f\u7b56\u304b\u3089\u8eab\u3092\u5b88\u3089\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u306f\u3063\u304d\u308a\u8a00\u3063\u3066\u8131\u70ad\u7d20\u653f\u7b56\u652f\u6301\u8005\u306b\u306f\u7a0e\u91d1\u3092\u304b\u3051\u308b\u3079\u304d\u3060\u308d\u3046\u3002\u4f55\u6545\u7121\u95a2\u4fc2\u306a\u4eba\u3005\u304c\u5f7c\u3089\u306e\u30a4\u30c7\u30aa\u30ed\u30ae\u30fc\u306e\u305f\u3081\u306b\u9ad8\u3044\u30ac\u30bd\u30ea\u30f3\u4ee3\u3084\u96fb\u6c17\u4ee3\u3092\u6255\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u306e\u304b\u3002\u305d\u308c\u306f\u5f7c\u3089\u304c\u81ea\u5206\u3067\u6255\u3046\u3079\u304d\u3067\u3042\u308b\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u6050\u3089\u304f\u306f\u305d\u306e\u898b\u65b9\u304c\u59a5\u5f53\u306a\u306e\u3060\u308d\u3046\u3002DoubleLine 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