{"id":22666,"date":"2022-04-07T07:02:00","date_gmt":"2022-04-06T22:02:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=22666"},"modified":"2022-04-07T01:27:20","modified_gmt":"2022-04-06T16:27:20","slug":"%e3%82%b5%e3%83%9e%e3%83%bc%e3%82%ba%e6%b0%8f-%e9%95%b7%e7%9f%ad%e9%87%91%e5%88%a9%e3%81%ae%e9%80%86%e8%bb%a2%e3%81%af%e6%99%af%e6%b0%97%e5%be%8c%e9%80%80%e3%82%92%e5%bc%95%e3%81%8d%e8%b5%b7%e3%81%93","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/22666","title":{"rendered":"\u30b5\u30de\u30fc\u30ba\u6c0f: 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class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/22559\" data-type=\"post\" data-id=\"22559\">\u9577\u77ed\u91d1\u5229\u9006\u8ee2\u3092\u4e88\u6e2c\u3067\u304d\u305f\u7406\u7531\u3068\u4eca\u5f8c\u306e\u4e0d\u6cc1\u3068\u682a\u4fa1\u66b4\u843d\u306b\u3064\u3044\u3066<\/a><\/li><\/ul>\n\n\n\n<p>\u91d1\u5229\u306e\u52d5\u5411\u306f\u682a\u5f0f\u5e02\u5834\u306e\u898b\u901a\u3057\u3092\u5360\u3046\u4e0a\u3067\u975e\u5e38\u306b\u91cd\u8981\u3067\u3042\u308b\u3002\u4f4e\u91d1\u5229\u304c\u682a\u5f0f\u5e02\u5834\u3092\u652f\u3048\u3001\u9ad8\u91d1\u5229\u304c2018\u5e74\u306e\u4e16\u754c\u540c\u6642\u682a\u5b89\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u3088\u3046\u306b\u3001\u91d1\u5229\u306f\u682a\u5f0f\u5e02\u5834\u306e\u751f\u6bba\u4e0e\u596a\u3092\u63e1\u3063\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\/19017\" data-type=\"post\" data-id=\"19017\">2018\u5e74\u306e\u4e16\u754c\u540c\u6642\u682a\u5b89\u3067\u306f\u4f55\u304b\u3089\u9806\u756a\u306b\u66b4\u843d\u3057\u305f\u304b\u3092\u632f\u308a\u8fd4\u308b<\/a><\/li><\/ul>\n\n\n\n<p>\u3060\u304c\u305d\u306e\u91cd\u8981\u6027\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u50b5\u5238\u306e\u30c8\u30ec\u30fc\u30c9\u306f\u65e5\u672c\u306e\u500b\u4eba\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306f\u7e01\u9060\u3044\u3082\u306e\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u5b9f\u969b\u306b\u306f\u50b5\u5238\u5e02\u5834\u3092\u4e88\u6e2c\u305b\u305a\u306b\u682a\u5f0f\u5e02\u5834\u3092\u4e88\u6e2c\u3059\u308b\u3053\u3068\u306f\u5b8c\u5168\u306b\u4e0d\u53ef\u80fd\u3067\u3042\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3067\u3042\u308b\u3002\uff08\u3057\u304b\u3057\u682a\u5f0f\u306e\u30d7\u30ed\u306e\u5927\u534a\u3082\u50b5\u5238\u5e02\u5834\u3092\u307b\u3068\u3093\u3069\u77e5\u3089\u305a\u3001\u3053\u306e\u77db\u76fe\u306b\u76ee\u3092\u80cc\u3051\u306a\u304c\u3089\u30d7\u30ed\u306e\u3088\u3046\u306a\u9854\u3092\u3057\u3066\u3044\u308b\u3002\uff09<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u3082\u3046\u5c11\u3057\u8aac\u660e\u304c\u5fc5\u8981\u3060\u308d\u3046\u3002\u9577\u77ed\u91d1\u5229\u306e\u9006\u8ee2\u306b\u3064\u3044\u3066\u3082\u7b46\u8005\u306e\u8aac\u660e\u306b\u52a0\u3048\u3001\u4ed6\u306e\u8ad6\u8005\u306e\u898b\u89e3\u3082\u8f09\u305b\u3066\u304a\u304f\u3053\u3068\u306b\u3059\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u9006\u30a4\u30fc\u30eb\u30c9\u8ad6<\/strong><\/p>\n\n\n\n<p>\u9006\u30a4\u30fc\u30eb\u30c9\u3068\u3082\u547c\u3070\u308c\u308b\u9577\u77ed\u91d1\u5229\u306e\u9006\u8ee2\u306f\u3001\u4e00\u822c\u306b\u666f\u6c17\u5f8c\u9000\u306e\u524d\u5146\u3067\u3042\u308b\u3068\u8a00\u308f\u308c\u308b\u3002<\/p>\n\n\n\n<p>\u4e8b\u5b9f\u30011970\u5e74\u4ee3\u4ee5\u964d\u3001\u9577\u77ed\u91d1\u5229\u306e\u5dee\u304c\u30bc\u30ed\u304b\u30de\u30a4\u30ca\u30b9\u306b\u7a81\u5165\u3057\u305f\u5834\u5408\u3001100%\u306e\u78ba\u7387\u3067\u666f\u6c17\u5f8c\u9000\u304c\u6765\u3066\u3044\u308b\u3002\u7070\u8272\u306e\u90e8\u5206\u304c\u666f\u6c17\u5f8c\u9000\u671f\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\/04\/2022-4-7-us-treasury-bond-yield-10-year-minus-2-year-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"503\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-4-7-us-treasury-bond-yield-10-year-minus-2-year-chart.png\" alt=\"\" class=\"wp-image-22679\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-4-7-us-treasury-bond-yield-10-year-minus-2-year-chart.png 503w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-4-7-us-treasury-bond-yield-10-year-minus-2-year-chart-300x279.png 300w\" sizes=\"auto, (max-width: 503px) 100vw, 503px\" \/><\/a><\/figure>\n\n\n\n<p>\u3060\u304c\u72b6\u6cc1\u306f\u305d\u3046\u5358\u7d14\u3067\u306f\u306a\u3044\u3002\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u8aac\u660e\u3092\u805e\u3053\u3046\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>\u3053\u308c\u306f\u76f8\u95a2\u95a2\u4fc2\u3067\u3042\u3063\u3066\u3001\u56e0\u679c\u95a2\u4fc2\u3067\u306f\u306a\u3044\u3002<\/p><p>\u9577\u77ed\u91d1\u5229\u306e\u9006\u8ee2\u3068\u7d4c\u6e08\u306e\u95a2\u4fc2\u306f\u56e0\u679c\u95a2\u4fc2\u3067\u306f\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u306f\u91cd\u8981\u3060\u3002\u3053\u308c\u306f\u300c\u70ad\u9271\u306e\u30ab\u30ca\u30ea\u30a2\u300d\u306e\u3088\u3046\u306a\u3082\u306e\u3067\u300110\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u3092\u5909\u3048\u308c\u3070\u5c06\u6765\u306e\u666f\u6c17\u5f8c\u9000\u304c\u306a\u304f\u306a\u308b\u3068\u3044\u3063\u305f\u3082\u306e\u3067\u306f\u306a\u3044\u3002<\/p><\/blockquote>\n\n\n\n<p>\u610f\u5473\u304c\u5206\u304b\u308b\u3060\u308d\u3046\u304b\u3002\u9577\u77ed\u91d1\u5229\u5dee\u306f10\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u304b\u30892\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u3092\u5f15\u3044\u305f\u3082\u306e\u306a\u306e\u3067\u3001\u3069\u3061\u3089\u304b\u306e\u91d1\u5229\u3092\u610f\u56f3\u7684\u306b\u64cd\u4f5c\u3059\u308c\u3070\u9006\u30a4\u30fc\u30eb\u30c9\u306f\u907f\u3051\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u308c\u306b\u610f\u5473\u306f\u3042\u308b\u3060\u308d\u3046\u304b\uff1f\u3000\u4e2d\u592e\u9280\u884c\u306a\u3089\u3070\u91d1\u5229\u306f\u64cd\u4f5c\u3067\u304d\u308b\u3060\u308d\u3046\u304c\u3001\u91d1\u5229\u3092\u64cd\u4f5c\u3057\u3066\u9006\u30a4\u30fc\u30eb\u30c9\u3092\u56de\u907f\u3057\u3066\u3082\u3001\u591a\u5206\u5b9f\u4f53\u7d4c\u6e08\u306b\u3082\u91d1\u878d\u5e02\u5834\u306b\u3082\u5927\u3057\u305f\u610f\u5473\u306f\u6301\u305f\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u4f55\u6545\u306a\u3089\u3070\u3001\u9006\u30a4\u30fc\u30eb\u30c9\u304c\u539f\u56e0\u3068\u306a\u3063\u3066\u666f\u6c17\u5f8c\u9000\u304c\u8d77\u3053\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u9577\u77ed\u91d1\u5229\u9006\u8ee2\u306e\u672c\u5f53\u306e\u610f\u5473<\/strong><\/p>\n\n\n\n<p>\u3067\u306f\u9006\u30a4\u30fc\u30eb\u30c9\u3068\u306f\u4f55\u306a\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u5b9f\u306f\u610f\u5473\u304c\u306a\u3044\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u3057\u304b\u3057\u5b9f\u969b\u306b\u3053\u306e\u30b5\u30a4\u30f3\u306f\u305d\u306e\u5f8c\u306e\u666f\u6c17\u5f8c\u9000\u3092\u6587\u5b57\u901a\u308a100%\u306e\u78ba\u7387\u3067\u5f53\u3066\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u304b\u3089\u304f\u308a\u3092\u89e3\u304f\u305f\u3081\u306e\u9375\u306f\u3001\u9006\u30a4\u30fc\u30eb\u30c9\u306e\u610f\u5473\u3092\u50b5\u5238\u5e02\u5834\u306e\u901a\u5e38\u306e\u8aad\u307f\u89e3\u304d\u65b9\u3067\u305d\u306e\u307e\u307e\u8aad\u307f\u89e3\u304f\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u7d9a\u3051\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u3080\u3057\u308d\u3001\u3053\u308c\u306f\u4eba\u3005\u304c\u4e2d\u592e\u9280\u884c\u304c\u5c06\u6765\u5229\u4e0b\u3052\u3092\u3059\u308b\u3060\u308d\u3046\u3068\u3044\u3046\u4e88\u6e2c\u3092\u3057\u3066\u3044\u308b\u5834\u5408\u306b\u8d77\u3053\u308b\u3002\u3042\u308b\u3044\u306f\u3001\u666f\u6c17\u5f8c\u9000\u304c\u8d77\u3053\u308b\u305f\u3081\u306b\u5229\u4e0b\u3052\u304c\u8d77\u3053\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u304b\u3060\u3002<\/p><\/blockquote>\n\n\n\n<p>\u3053\u308c\u304c\u50b5\u5238\u5e02\u5834\u306e\u305d\u306e\u307e\u307e\u306e\u8aad\u307f\u89e3\u304d\u65b9\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u9577\u77ed\u91d1\u5229\u306e\u9006\u8ee2\u3068\u306f\u3001\u77ed\u671f\u91d1\u5229\u304c\u9577\u671f\u91d1\u5229\u3088\u308a\u3082\u4e0a\u304c\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u77ed\u671f\u91d1\u5229\u306f\u4eca\u5f8c\u306e\u5229\u4e0a\u3052\u52d5\u5411\u3092\u793a\u3059\u306e\u3067\u3001\u5e02\u5834\u306f\u660e\u3089\u304b\u306b\u4e2d\u592e\u9280\u884c\u304c\u4eca\u5f8c\u5229\u4e0a\u3052\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u3001\u305d\u306e\u5229\u4e0a\u3052\u306f\u30ed\u30fc\u30f3\u306e\u91d1\u5229\u4e0a\u6607\u306a\u3069\u3092\u901a\u3057\u3066\u6d88\u8cbb\u3092\u505c\u6ede\u3055\u305b\u308b\u3002\u3042\u308b\u3044\u306f\u4f4e\u91d1\u5229\u306b\u4f9d\u5b58\u3057\u3066\u304d\u305f\u682a\u5f0f\u5e02\u5834\u306b\u5bb3\u3092\u4e0e\u3048\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u305d\u3046\u3059\u308c\u3070\u77ed\u671f\u7684\u306a\u5229\u4e0a\u3052\u304c\u9577\u671f\u7684\u306a\u6210\u9577\u3092\u963b\u5bb3\u3057\u3001\u3044\u3064\u304b\u4e2d\u592e\u9280\u884c\u306f\u5229\u4e0b\u3052\u306b\u65b9\u5411\u8ee2\u63db\u3092\u305b\u3056\u308b\u3092\u5f97\u306a\u304f\u306a\u308b\u3002\u3060\u304b\u3089\u9577\u671f\u306e\u91d1\u5229\u304c\u77ed\u671f\u306e\u91d1\u5229\u3088\u308a\u4f4e\u304f\u306a\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u304c\u9577\u77ed\u91d1\u5229\u306e\u9006\u8ee2\u306e\u305d\u306e\u307e\u307e\u306e\u610f\u5473\u3067\u3042\u308b\u3002\u5e02\u5834\u306f\u305d\u306e\u72b6\u6cc1\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/22226\" data-type=\"post\" data-id=\"22226\">\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u3088\u308a\u5148\u306b\u682a\u4fa1\u3092\u9000\u6cbb\u3057\u3066\u3057\u307e\u3046\u3060\u308d\u3046<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u5305\u62ec\u3059\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u56fd\u50b5\u306e\u91d1\u5229\u306b\u8d77\u304d\u3066\u3044\u308b\u3053\u3068\u306f\u3001\u3053\u306e\u3088\u3046\u306a\u72b6\u6cc1\u3067\u904e\u53bb\u306b\u7d4c\u6e08\u304c\u30bd\u30d5\u30c8\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u3092\u3057\u305f\u8a66\u3057\u304c\u306a\u3044\u3053\u3068\u3001\u305d\u3057\u3066\u666f\u6c17\u5f8c\u9000\u304c\u8d77\u3053\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u3078\u306e\u5e02\u5834\u306e\u4e0d\u5b89\u3092\u8868\u3057\u3066\u3044\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u5e02\u5834\u95a2\u4fc2\u8005\u304c\u8a00\u3046\u3088\u3046\u306a\u300c\u9006\u30a4\u30fc\u30eb\u30c9=100%\u306e\u666f\u6c17\u5f8c\u9000\u300d\u3068\u3044\u3046\u6975\u8ad6\u306b\u306f\u540c\u610f\u3057\u306a\u3044\u3068\u3057\u306a\u304c\u3089\u3082\u3001\u4e2d\u592e\u9280\u884c\u304c\u3053\u306e\u72b6\u6cc1\u3092\u4e0a\u624b\u304f\u5207\u308a\u629c\u3051\u308b\u30a4\u30e1\u30fc\u30b8\u304c\u60f3\u50cf\u3067\u304d\u306a\u3044\u3088\u3046\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u8fba\u308a\u306e\u30cb\u30e5\u30a2\u30f3\u30b9\u306f\u4ee5\u4e0b\u306b\u5831\u3058\u305f\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u3068\u306e\u5bfe\u8ac7\u3067\u3082\u611f\u3058\u53d6\u3089\u308c\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/21458\" data-type=\"post\" data-id=\"21458\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: 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href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-4-7-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\/04\/2022-4-7-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-22697\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-4-7-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-4-7-s-and-p-500-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" 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href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/21985\" data-type=\"post\" data-id=\"21985\">2022\u5e74\u306e\u682a\u5f0f\u5e02\u5834: 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