{"id":21733,"date":"2022-03-22T20:02:00","date_gmt":"2022-03-22T11:02:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=21733"},"modified":"2022-03-22T16:25:02","modified_gmt":"2022-03-22T07:25:02","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e9%87%91%e5%88%a9%e3%82%92%e8%a6%8b%e3%81%a6%e6%99%af%e6%b0%97%e5%be%8c%e9%80%80%e3%81%ae%e7%a2%ba%e7%8e%87%e3%82%92%e5%8d%a0%e3%81%86","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/21733","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: 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class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/21193\" data-type=\"post\" data-id=\"21193\">2\u6708\u306e\u7c73\u56fd\u30a4\u30f3\u30d5\u30ec\u7387\u306f7.9%\u3001\u4eca\u5f8c\u66f4\u306a\u308b\u7269\u4fa1\u9ad8\u9a30\u3078<\/a><\/li><\/ul>\n\n\n\n<p>\u4e2d\u592e\u9280\u884c\u304c\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u5229\u4e0a\u3052\u3092\u958b\u59cb\u3057\u305f\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\/21514\" data-type=\"post\" data-id=\"21514\">3\u6708FOMC\u4f1a\u5408\u7d50\u679c\u306f\u5229\u4e0a\u3052\u958b\u59cb\u3001\u653f\u7b56\u91d1\u5229\u306f\u5e74\u5185\u306b2%\u4ee5\u4e0a\u3068\u306a\u308a\u682a\u4fa1\u66b4\u843d\u3078<\/a><\/li><\/ul>\n\n\n\n<p>\u3060\u304c\u91d1\u5229\u3068\u8a00\u3063\u3066\u3082\u8272\u3005\u3042\u308b\u3002\u5229\u4e0a\u3052\u3068\u306f\u4e2d\u592e\u9280\u884c\u304c\u653f\u7b56\u91d1\u5229\u3092\u4e0a\u3052\u308b\u3053\u3068\u3067\u3001\u653f\u7b56\u91d1\u5229\u306f\u56fd\u50b5\u306e\u91d1\u5229\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u3002<\/p>\n\n\n\n<p>\u56fd\u50b5\u306e\u91d1\u5229\u306b\u3082\u8272\u3005\u3042\u308b\u3002\u56fd\u50b5\u3068\u306f\u6295\u8cc7\u5bb6\u304c\u653f\u5e9c\u306b\u304a\u91d1\u3092\u8cb8\u3059\u3068\u3044\u3046\u884c\u70ba\u3092\u8a3c\u5238\u5316\u3057\u305f\u3082\u306e\u3060\u304c\u3001\u3069\u306e\u304f\u3089\u3044\u306e\u671f\u9593\u304a\u91d1\u3092\u8cb8\u3059\u306e\u304b\u306b\u3088\u3063\u3066\u30012\u5e74\u7269\u30015\u5e74\u7269\u300110\u5e74\u7269\u300130\u5e74\u7269\u306a\u3069\u8272\u3005\u306a\u671f\u9593\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p>2\u5e74\u7269\u56fd\u50b5\u306f\u4eca\u5f8c\u306e\u653f\u7b56\u91d1\u5229\u306e\u52d5\u5411\u306b\u5de6\u53f3\u3055\u308c\u308b\u3002\u653f\u7b56\u91d1\u5229\uff08\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u9280\u884c\u9593\u306e\u77ed\u671f\u8cb8\u3057\u501f\u308a\u306e\u91d1\u5229\uff09\u304c\u4e0a\u304c\u3063\u305f\u306b\u3082\u304b\u304b\u308f\u3089\u305a2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u304c\u4f4e\u3051\u308c\u3070\u3001\u9280\u884c\u306a\u3069\u306f2\u5e74\u7269\u56fd\u50b5\u3092\u8cb7\u308f\u305a\u306b\u653f\u7b56\u91d1\u5229\u30922\u5e74\u9593\u5f97\u7d9a\u3051\u3088\u3046\u3068\u3059\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u30892\u5e74\u7269\u56fd\u50b5\u306f\u4eca\u5f8c2\u5e74\u9593\u306e\u653f\u7b56\u91d1\u5229\u306e\u5e02\u5834\u4e88\u60f3\u306b\u9023\u52d5\u3057\u3066\u63a8\u79fb\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u5e02\u5834\u3092\u9a5a\u304b\u305b\u305f\u304f\u306a\u3044\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u304c\u9023\u7d9a\u5229\u4e0a\u3052\u3092\u8868\u660e\u3057\u305f\u306e\u306f\u30012\u5e74\u7269\u56fd\u50b5\u306e\u7e54\u308a\u8fbc\u307f\u306b\u5f93\u3046\u305f\u3081\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u306710\u5e74\u7269\u308430\u5e74\u7269\u306a\u3069\u9577\u671f\u30fb\u8d85\u9577\u671f\u306e\u56fd\u50b5\u306e\u91d1\u5229\u306f\u3001\u653f\u7b56\u91d1\u5229\u3060\u3051\u3067\u306f\u306a\u304f\u4eca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u3084\u7d4c\u6e08\u6210\u9577\u7387\u306b\u5de6\u53f3\u3055\u308c\u308b\u3002\u307e\u305a\u3053\u306e\u9055\u3044\u3092\u899a\u3048\u3066\u304a\u3044\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u56fd\u50b5\u3092\u30c8\u30ec\u30fc\u30c9\u3059\u308b<\/strong><\/p>\n\n\n\n<p>\u3053\u306e\u671f\u9593\u306e\u9055\u3046\u69d8\u3005\u306a\u56fd\u50b5\u3092\u58f2\u8cb7\u3059\u308b\u3053\u3068\u306f\u3001\u682a\u5f0f\u5e02\u5834\u306b\u9006\u98a8\u306e\u5439\u304f\u73fe\u5728\u306e\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u3067\u624b\u5805\u3044\u5229\u76ca\u3092\u5f97\u3089\u308c\u308b\u6570\u5c11\u306a\u3044\u65b9\u6cd5\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u7269\u4fa1\u9ad8\u9a30\u304c\u9177\u304f\u306a\u308c\u3070\u3001\u666f\u6c17\u304c\u826f\u304f\u306a\u3044\u72b6\u6cc1\u4e0b\u3067\u3082\u4e2d\u592e\u9280\u884c\u306f\u5229\u4e0a\u3052\u3092\u5f37\u3044\u3089\u308c\u308b\u3002\u5229\u4e0a\u3052\u306f\u4f4f\u5b85\u30ed\u30fc\u30f3\u3084\u81ea\u52d5\u8eca\u30ed\u30fc\u30f3\u306e\u91d1\u5229\u4e0a\u6607\u3092\u901a\u3057\u3066\u6d88\u8cbb\u3092\u6291\u5236\u3059\u308b\u306e\u3067\u3001\u5229\u4e0a\u3052\u306b\u3088\u3063\u3066\u666f\u6c17\u304c\u843d\u3061\u8fbc\u3093\u3067\u3086\u304f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u4e2d\u592e\u9280\u884c\u306f\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u306b\u5229\u4e0a\u3052\u3092\u6b62\u3081\u3089\u308c\u306a\u304f\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u72b6\u6cc1\u3067\u56fd\u50b5\u306e\u91d1\u5229\u304c\u3069\u3046\u306a\u308b\u304b\u3068\u8a00\u3048\u3070\u3001\u653f\u7b56\u91d1\u5229\u306b\u9023\u52d5\u3059\u308b2\u5e74\u7269\u306e\u91d1\u5229\u306f\u5229\u4e0a\u3052\u3092\u7e54\u308a\u8fbc\u3093\u3067\u4e0a\u6607\u305b\u3056\u308b\u3092\u5f97\u306a\u3044\u304c\u3001\u666f\u6c17\u306f\u3069\u3093\u3069\u3093\u843d\u3061\u8fbc\u3093\u3067\u3086\u304f\u306e\u3067\u3001\u9577\u671f\u7684\u306a\u666f\u6c17\u52d5\u5411\u3092\u7e54\u308a\u8fbc\u308010\u5e74\u7269\u308430\u5e74\u7269\u306e\u91d1\u5229\u306f2\u5e74\u7269\u306b\u6bd4\u3079\u3066\u76f8\u5bfe\u7684\u306b\u982d\u6253\u3061\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u3088\u3063\u3066\u3001\u4f8b\u3048\u307010\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u304b\u30892\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u3092\u5f15\u3044\u305f\u5dee\u3001\u3053\u308c\u3092\u9577\u77ed\u91d1\u5229\u5dee\u3068\u8a00\u3046\u306e\u3060\u304c\u3001\u9577\u77ed\u91d1\u5229\u5dee\u304c\u3069\u3093\u3069\u3093\u4e0b\u304c\u3063\u3066\u304f\u308b\u3002\u9577\u77ed\u91d1\u5229\u5dee\u306e\u30c1\u30e3\u30fc\u30c8\u306f\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\/03\/2022-3-22-us-treasury-bond-yield-10-year-minus-2-year-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"487\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-22-us-treasury-bond-yield-10-year-minus-2-year-chart.png\" alt=\"\" class=\"wp-image-21755\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-22-us-treasury-bond-yield-10-year-minus-2-year-chart.png 487w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-22-us-treasury-bond-yield-10-year-minus-2-year-chart-300x288.png 300w\" sizes=\"auto, (max-width: 487px) 100vw, 487px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u9577\u77ed\u91d1\u5229\u5dee\u306b\u8ced\u3051\u308b\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u30c8\u30ec\u30fc\u30c9<\/strong><\/p>\n\n\n\n<p>\u8981\u3059\u308b\u306b\u3001\u5229\u4e0a\u3052\u306e\u3084\u308a\u904e\u304e\u306b\u3088\u308b\u666f\u6c17\u5f8c\u9000\u306b\u639b\u3051\u305f\u3051\u308c\u3070\u30012\u5e74\u7269\u56fd\u50b5\u306e\u4e0a\u6607\u306810\u5e74\u7269\u56fd\u50b5\u306e\u4e0b\u843d\u306b\u540c\u6642\u306b\u8ced\u3051\u3066\u305d\u306e\u5dee\u3092\u5f97\u308c\u3070\u826f\u3044\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u7b46\u8005\u304c\u9577\u77ed\u91d1\u5229\u5dee\u306e\u4e0b\u843d\u306b\u8ced\u3051\u308b\u30c8\u30ec\u30fc\u30c9\u306b\u8a00\u53ca\u3057\u305f\u306e\u306f\u53bb\u5e74\u306e\u79cb\u306e\u3053\u3068\u3067\u3042\u308b\u3002\u305d\u306e\u5f8c2\u6708\u306b\u3082\u8a00\u53ca\u3057\u3066\u3044\u308b\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><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 (2022\/2\/6)<\/a><\/li><\/ul>\n\n\n\n<p>\u4e0a\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u3066\u5206\u304b\u308b\u901a\u308a\u3001\u3053\u306e\u30c8\u30ec\u30fc\u30c9\u306f\u73fe\u5728\u3001\u7b46\u8005\u306b\u3068\u3063\u3066\u682a\u306e\u7a7a\u58f2\u308a\u3068\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306e\u8cb7\u3044\u306e\u30af\u30ed\u30b9\u30c8\u30ec\u30fc\u30c9\u3068\u540c\u3058\u304f\u3089\u3044\u83ab\u5927\u306a\u5229\u76ca\u3092\u4e0a\u3052\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>\u4e2d\u592e\u9280\u884c\u304c\u6025\u6fc0\u306a\u5229\u4e0a\u3052\u306b\u8ffd\u3044\u8fbc\u307e\u308c\u308b\u306e\u306f\u5206\u304b\u308a\u304d\u3063\u3066\u3044\u305f\u306e\u306b\u3001\u4ed6\u306e\u6295\u8cc7\u5bb6\u306f\u4f55\u6545\u540c\u3058\u3053\u3068\u3092\u3057\u306a\u304b\u3063\u305f\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u7b46\u8005\u306b\u3068\u3063\u3066\u3053\u308c\u306f\u5e02\u5834\u306b\u304a\u91d1\u304c\u843d\u3061\u3066\u3044\u305f\u3088\u3046\u306a\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u9577\u77ed\u91d1\u5229\u5dee\u306e\u4eca\u5f8c\u306e\u63a8\u79fb<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u524d\u7f6e\u304d\u304c\u9577\u304f\u306a\u3063\u305f\u304c\u4e16\u754c\u6709\u6570\u306e\u50b5\u5238\u306e\u5c02\u9580\u5bb6\u3067\u3042\u308b\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u3053\u306e\u9577\u77ed\u91d1\u5229\u5dee\u306b\u8a00\u53ca\u3057\u3066\u3044\u308b\u3002\u5f7c\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>2\u5e74\u7269\u306810\u5e74\u7269\u306e\u91d1\u5229\u5dee\u304c0.5%\u4ee5\u4e0b\u306e\u6642\u3001\u666f\u6c17\u5f8c\u9000\u304c\u5fc3\u914d\u3055\u308c\u308b\u3002\u91d1\u5229\u5dee\u304c\u30bc\u30ed\u306b\u306a\u308b\u6642\u3001\u975e\u5e38\u306b\u5927\u304d\u306a\u666f\u6c17\u5f8c\u9000\u304c\u5fc3\u914d\u3055\u308c\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u4eca\u306e\u9577\u77ed\u91d1\u5229\u5dee\u306f0.18%\u306a\u306e\u3067\u3001\u305d\u306e\u9593\u304f\u3089\u3044\u3060\u308d\u3046\u304b\u3002\u3060\u304c\u7b46\u8005\u306f\u6700\u7d42\u7684\u306b\u3053\u306e\u9577\u77ed\u91d1\u5229\u5dee\u306f\u30de\u30a4\u30ca\u30b9\u307e\u3067\u8efd\u304f\u884c\u3063\u3066\u3057\u307e\u3046\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u30a4\u30f3\u30d5\u30ec\u306e\u72b6\u6cc1\u4e0b\u3067\u5927\u304d\u306a\u666f\u6c17\u5f8c\u9000\u304c\u6765\u308b\u3053\u3068\u3092\u610f\u5473\u3059\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u7279\u306b\u61f8\u5ff5\u3059\u308b\u306e\u306f\u3001\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\uff08\u56fd\u50b5\u306e\u671f\u9593\u306e\u77ed\u3044\u3082\u306e\u304b\u3089\u9577\u3044\u3082\u306e\u307e\u3067\u306e\u91d1\u5229\u3092\u4e26\u3079\u305f\u66f2\u7dda\uff09\u304c\u30d5\u30e9\u30c3\u30c8\uff08\u3064\u307e\u308a\u9577\u77ed\u91d1\u5229\u5dee\u304c\u958b\u3044\u3066\u3044\u306a\u3044\uff09\u3067\u3042\u308b\u4e2d\u3067\u4e2d\u592e\u9280\u884c\u304c\u5229\u4e0a\u3052\u3092\u958b\u59cb\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u4eca\u306e\u5229\u4e0a\u3052\u30b5\u30a4\u30af\u30eb\u306f\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u304c\u975e\u5e38\u306b\u30d5\u30e9\u30c3\u30c8\u306a\u72b6\u614b\u3067\u59cb\u307e\u308b\u3002<\/p><p>\u901a\u5e38\u3001\u91d1\u878d\u5e02\u5834\u306e\u72b6\u6cc1\u304c\u4f55\u56de\u304b\u306e\u5229\u4e0a\u3052\u306b\u8010\u3048\u3089\u308c\u308b\u307b\u3069\u826f\u3044\u3068\u8003\u3048\u3089\u308c\u308b\u306e\u306f\u3001\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u304c\u4eca\u3088\u308a\u3082\u6025\u52fe\u914d\u306b\u306a\u3063\u3066\u3044\u308b\u6642\u3060\u3002<\/p><\/blockquote>\n\n\n\n<p>\u5e02\u5834\u304c\u666f\u6c17\u306b\u5f37\u6c17\u306a\u3089\u3070\u3001\u666f\u6c17\u52d5\u5411\u306b\u53cd\u5fdc\u3059\u308b\u9577\u671f\u306e\u91d1\u5229\u304c\u4e0a\u304c\u3063\u3066\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u306f\u6025\u52fe\u914d\u306b\u306a\u308b\u306f\u305a\u3067\u3042\u308b\u3002\u305d\u306e\u6642\u306a\u3089\u3070\u5e02\u5834\u3082\u5b9f\u4f53\u7d4c\u6e08\u3082\u5229\u4e0a\u3052\u306b\u8010\u3048\u3089\u308c\u308b\u3068\u4e3b\u5f35\u3059\u308b\u3053\u3068\u3082\u51fa\u6765\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u91d1\u5229\u306e\u7d76\u5bfe\u5024\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u5f15\u3044\u305f\u5b9f\u8cea\u91d1\u5229\u3092\u8003\u3048\u308b\u3068\u3001\u73fe\u5728\u306e\u91d1\u5229\u5dee\u306f\u304b\u306a\u308a\u5c0f\u3055\u3044\u3002<\/p><\/blockquote>\n\n\n\n<p>\u73fe\u5728\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u91d1\u5229\u6c34\u6e96\u3088\u308a\u3082\u304b\u306a\u308a\u9ad8\u3044\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306f\u3001\u4f8b\u3048\u3070\u4f4f\u5b85\u4fa1\u683c\u304c\u304b\u306a\u308a\u306e\u901f\u5ea6\u3067\u4e0a\u6607\u3059\u308b\u4e2d\u3067\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u6d88\u8cbb\u8005\u306b\u3068\u3063\u3066\u305d\u308c\u3092\u6307\u3092\u52a0\u3048\u3066\u898b\u9001\u308b\u306e\u304b\u3001\u305d\u308c\u3068\u30822%\u30843%\u306e\u91d1\u5229\u3067\u30ed\u30fc\u30f3\u3092\u7d44\u3093\u3067\u305d\u306e\u4e0a\u6607\u306b\u4e57\u308b\u306e\u304b\u306e\u9078\u629e\u3092\u610f\u5473\u3059\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/20231\" data-type=\"post\" data-id=\"20231\">12\u6708\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u4f4f\u5b85\u4fa1\u683c\u306f18.8%\u4e0a\u6607\u3001\u30b5\u30d6\u30d7\u30e9\u30a4\u30e0\u30d0\u30d6\u30eb\u3092\u5927\u304d\u304f\u4e0a\u56de\u308b<\/a><\/li><\/ul>\n\n\n\n<p>\u9006\u306b\u4f4f\u5b85\u3092\u8cb7\u308f\u306a\u3051\u308c\u3070\u3001\u9ad8\u9a30\u3057\u3066\u3086\u304f\u5bb6\u8cc3\u3092\u4eca\u5f8c\u6255\u3063\u3066\u3086\u304f\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u56fd\u6c11\u306f\u3053\u306e\u91d1\u5229\u3068\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u6c34\u6e96\u3067\u306f\u4f4f\u5b85\u3092\u8cb7\u3046\u3057\u304b\u306a\u3044\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u300c\u7de9\u548c\u7684\u300d\u306a\u5229\u4e0a\u3052<\/strong><\/p>\n\n\n\n<p>\u3088\u3063\u3066\u3053\u306e\u91d1\u5229\u6c34\u6e96\u306f\u3001\u5229\u4e0a\u3052\u304c\u884c\u308f\u308c\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u306b\u6bd4\u3079\u3066\u7de9\u548c\u7684\u3060\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002\u91d1\u5229\u304c\u30a4\u30f3\u30d5\u30ec\u7387\u3088\u308a\u3082\u4f4e\u3044\u306e\u3067\u3001\u4eba\u3005\u306f\u3069\u3093\u3069\u3093\u304a\u91d1\u3092\u501f\u308a\u3066\u3082\u306e\u3092\u8cb7\u304a\u3046\u3068\u3059\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u6307\u6458\u3059\u308b\u306e\u306f\u3001\u91d1\u878d\u653f\u7b56\u304c\u3053\u308c\u3060\u3051\u7de9\u548c\u7684\u3067\u3042\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u9577\u77ed\u91d1\u5229\u5dee\u304c\u5927\u304d\u306a\u666f\u6c17\u5f8c\u9000\u3092\u7e54\u308a\u8fbc\u307f\u3064\u3064\u3042\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306f\u30b3\u30ed\u30ca\u3067\u50b7\u3093\u3060\u7d4c\u6e08\u3092\u73fe\u91d1\u7d66\u4ed8\u3084\u91cf\u7684\u7de9\u548c\u306b\u3088\u3063\u3066\u6570\u5b57\u306e\u4e0a\u3067\u306f\u7121\u7406\u77e2\u7406\u6301\u3061\u76f4\u3055\u305b\u305f\u304c\u3001\u5b9f\u969b\u306e\u3068\u3053\u308d\u306f\u5b9f\u4f53\u7d4c\u6e08\u306f\u6e80\u8eab\u5275\u75cd\u3060\u3068\u3044\u3046\u3053\u3068\u3092\u610f\u5473\u3059\u308b\u3002\u501f\u91d1\u3067\u77ed\u671f\u7684\u306b\u7d4c\u6e08\u3092\u6301\u3061\u4e0a\u3052\u308b\u3053\u3068\u306e\u30de\u30a4\u30ca\u30b9\u52b9\u679c\u306b\u3064\u3044\u3066\u30b3\u30ed\u30ca\u521d\u671f\u306b\u8a18\u4e8b\u3092\u66f8\u3044\u3066\u3044\u308b\u306e\u3060\u304c\u3001\u8aad\u8005\u306f\u899a\u3048\u3066\u3044\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\/10248\" data-type=\"post\" data-id=\"10248\">\u65b0\u578b\u30b3\u30ed\u30ca\u3067\u501f\u91d1\u304c\u5b9f\u4f53\u7d4c\u6e08\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u4ed5\u7d44\u307f\u3092\u5206\u304b\u308a\u3084\u3059\u304f\u8aac\u660e\u3059\u308b<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u7d50\u5c40\u3001\u653f\u5e9c\u304c\u501f\u91d1\u3092\u5897\u3084\u3057\u3066\u73fe\u91d1\u7d66\u4ed8\u3092\u884c\u3063\u305f\u7d50\u679c\u3001\u7269\u4fa1\u9ad8\u9a30\u3068\u3044\u3046\u66f4\u306a\u308b\u4eba\u707d\u3092\u5f15\u304d\u8d77\u3053\u3059\u7d50\u679c\u3068\u306a\u3063\u305f\u3002\u305d\u3057\u3066\u305d\u308c\u306f\u5927\u304d\u306a\u666f\u6c17\u5f8c\u9000\u3092\u5f15\u304d\u8d77\u3053\u3059\u3053\u3068\u3092\u9577\u77ed\u91d1\u5229\u5dee\u306f\u793a\u5506\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\/2022-3-22-us-treasury-bond-yield-10-year-minus-2-year-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"487\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-22-us-treasury-bond-yield-10-year-minus-2-year-chart.png\" alt=\"\" class=\"wp-image-21755\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-22-us-treasury-bond-yield-10-year-minus-2-year-chart.png 487w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/03\/2022-3-22-us-treasury-bond-yield-10-year-minus-2-year-chart-300x288.png 300w\" sizes=\"auto, (max-width: 487px) 100vw, 487px\" \/><\/a><\/figure>\n\n\n\n<p>\u3053\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u307e\u3060\u307e\u3060\u4e0b\u304c\u308b\u3002<\/p>\n\n\n\n<p>\u4e0a\u8a18\u306e\u3088\u3046\u306b\u6295\u8cc7\u5bb6\u306f\u3069\u306e\u3088\u3046\u306a\u72b6\u6cc1\u3067\u3082\u6b21\u306e\u7d4c\u6e08\u72b6\u6cc1\u3092\u4e88\u6e2c\u3057\u305d\u308c\u306b\u8ced\u3051\u308b\u3053\u3068\u3067\u5229\u76ca\u3092\u4e0a\u3052\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u6709\u6a29\u8005\u306f\u305d\u308c\u3067\u826f\u3044\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u4f55\u6545\u73fe\u91d1\u7d66\u4ed8\u3084\u7d19\u5e63\u5370\u5237\u3092\u884c\u3046\u653f\u6cbb\u5bb6\u304c\u652f\u6301\u3055\u308c\u308b\u306e\u304b\u3001\u7b46\u8005\u306b\u306f\u5168\u304f\u5206\u304b\u3089\u306a\u3044\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/18701\" data-type=\"post\" data-id=\"18701\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: 12\u624d\u5150\u3088\u308a\u3082\u611a\u304b\u306a\u4e2d\u592e\u9280\u884c\u306e\u5b58\u5728\u610f\u7fa9\u304c\u5206\u304b\u3089\u306a\u3044<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u50b5\u5238\u6295\u8cc7\u5bb6\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cCNBC\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001\u56fd\u50b5\u306e\u91d1\u5229\u3092\u773a\u3081\u306a\u304c\u3089\u4eca\u5f8c\u306e\u666f\u6c17\u5f8c\u9000\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u306e\u3067\u7d39\u4ecb\u3057\u305f\u3044\u3002 \u65e5\u672c\u3067\u306f\u500b\u4eba\u6295\u8cc7\u5bb6\u304c\u50b5\u5238\u5e02\u5834\u306b\u6295\u8cc7\u3092\u3059\u308b\u65b9\u6cd5\u306f\u5c11\u306a\u3044\u305f\u3081\u50b5\u5238\u306f\u30de\u30a4\u30ca\u30fc\u306a\u8cc7\u7523\u3060\u3068\u898b &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/21733\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u91d1\u5229\u3092\u898b\u3066\u666f\u6c17\u5f8c\u9000\u306e\u78ba\u7387\u3092\u5360\u3046\u65b9\u6cd5\u3092\u50b5\u5238\u6295\u8cc7\u5bb6\u304c\u8aac\u660e\u3059\u308b<\/span> <span 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