{"id":23164,"date":"2022-04-17T20:02:00","date_gmt":"2022-04-17T11:02:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=23164"},"modified":"2022-04-17T15:02:52","modified_gmt":"2022-04-17T06:02:52","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e3%82%a4%e3%83%b3%e3%83%95%e3%83%ac%e3%81%af%e3%83%94%e3%83%bc%e3%82%af","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/23164","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a4\u30f3\u30d5\u30ec\u306f\u30d4\u30fc\u30af"},"content":{"rendered":"\n<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cCNBC\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u30a2\u30e1\u30ea\u30ab\u3067\u9ad8\u9a30\u3057\u3066\u3044\u308b\u7269\u4fa1\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u898b\u901a\u3057<\/strong><\/p>\n\n\n\n<p>\u73fe\u5728\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f8.6%\u307e\u3067\u4e0a\u304c\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/22933\" data-type=\"post\" data-id=\"22933\">3\u6708\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u9042\u306b8.6%\u306b<\/a><\/li><\/ul>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30b3\u30ed\u30ca\u521d\u671f\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u3092\u8b66\u544a\u3057\u7d9a\u3051\u305f\u8457\u540d\u6295\u8cc7\u5bb6\u306e1\u4eba\u3067\u3042\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u653e\u7f6e\u3057\u7d9a\u3051\u305f\u653f\u5e9c\u3084\u4e2d\u592e\u9280\u884c\u3092\u6279\u5224\u3057\u3066\u304d\u305f\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\n\n\n<p>\u4e00\u65b9\u30672021\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u4e00\u6642\u7684\u306a\u8db3\u8e0f\u307f\u3092\u4e88\u60f3\u3059\u308b\u306a\u3069\u30a4\u30f3\u30d5\u30ec\u306e\u7d30\u304b\u306a\u52d5\u304d\u306b\u3064\u3044\u3066\u3082\u5f53\u3066\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u4eca\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u304c\u66f4\u306b\u4e0a\u304c\u308b\u3053\u3068\u304c\u306a\u3051\u308c\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u306f\u30d4\u30fc\u30af\u306b\u8fd1\u3044\u3060\u308d\u3046\u3002<\/p><p>\u524d\u5e74\u6bd4\u306e\u7d71\u8a08\u52b9\u679c\u304c\u305d\u308c\u3092\u52a9\u3051\u3066\u3044\u308b\u30022021\u5e74\u306e\u534a\u3070\u306b\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u524d\u6708\u6bd4\u3067\u5927\u304d\u304f\u4e0a\u6607\u3057\u305f\u304c\u3001\u540c\u3058\u3053\u3068\u306f\u4eca\u5e74\u306b\u306f\u8d77\u3053\u308a\u305d\u3046\u306b\u306a\u3044\u3002<\/p><\/blockquote>\n\n\n\n<p>\u3053\u308c\u306f\u5c11\u3057\u8aac\u660e\u304c\u5fc5\u8981\u3060\u308d\u3046\u30028.6%\u3068\u3044\u3046\u4eca\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u524d\u5e74\u540c\u6708\u6bd4\u306e\u3082\u306e\u3060\u304c\u3001\u3053\u308c\u306f\u3064\u307e\u308a\u4eca\u5e74\u306e3\u6708\u3068\u53bb\u5e74\u306e3\u6708\u3092\u6bd4\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u4eee\u306b\u53bb\u5e74\u306e3\u6708\u304c\u7279\u6b8a\u8981\u56e0\u306b\u3088\u3063\u3066\u9ad8\u3044\u6570\u5b57\u3060\u3063\u305f\u5834\u5408\u3001\u305d\u3053\u304b\u3089\u3069\u308c\u3060\u3051\u4e0a\u304c\u3063\u305f\u304b\u3092\u8003\u3048\u308b\u524d\u5e74\u540c\u6708\u6bd4\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4f4e\u304f\u51fa\u3066\u3057\u307e\u3046\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p><strong>\u524d\u5e74\u540c\u6708\u6bd4\u306e\u7d71\u8a08\u52b9\u679c<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u3067\u306f\u6bd4\u8f03\u5bfe\u8c61\u3068\u306a\u308b2021\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u304b\u3002\u3053\u308c\u307e\u3067\u306e\u30a4\u30f3\u30d5\u30ec\u7387\uff08\u524d\u5e74\u540c\u6708\u6bd4\uff09\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u4ee5\u4e0b\u306e\u901a\u308a\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-mar-us-cpi-growth-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"486\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-mar-us-cpi-growth-chart.png\" alt=\"\" class=\"wp-image-22937\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-mar-us-cpi-growth-chart.png 486w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-mar-us-cpi-growth-chart-300x289.png 300w\" sizes=\"auto, (max-width: 486px) 100vw, 486px\" \/><\/a><\/figure>\n\n\n\n<p>\u73fe\u5728\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u6bd4\u8f03\u5bfe\u8c61\u3068\u306a\u3063\u305f2021\u5e743\u6708\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u3067\u6700\u5f8c\u306e\u73fe\u91d1\u7d66\u4ed8\u304c\u884c\u308f\u308c\u305f\u6708\u3067\u3042\u308b\u3002\u4f59\u8a08\u306a\u3053\u3068\u3092\u8a00\u3048\u3070\u3001\u5b8c\u5168\u306b\u5fc5\u8981\u306a\u304b\u3063\u305f\u73fe\u91d1\u7d66\u4ed8\u3067\u3042\u308b\u3002\u3060\u304b\u30894\u6708\u4ee5\u964d\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u6025\u6fc0\u306b\u4e0a\u304c\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306f\u3064\u307e\u308a\u3001\u4eca\u5f8c\u767a\u8868\u3055\u308c\u308b4\u6708\u4ee5\u964d\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u3001\u9ad8\u9a30\u3057\u305f\u5f8c\u306e2021\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u3068\u6bd4\u8f03\u3055\u308c\u3066\u3086\u304f\u3053\u3068\u306b\u306a\u308b\u3002\u3053\u308c\u304c\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u300c\u30a4\u30f3\u30d5\u30ec\u306f\u30d4\u30fc\u30af\u300d\u3068\u8a00\u3046\u7406\u7531\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u5f7c\u306f\u3053\u3046\u7d9a\u3051\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u3060\u304b\u3089\u6050\u3089\u304f\u3053\u306e\u8fba\u308a\u304c\u30d4\u30fc\u30af\u3060\u308d\u3046\u3002\u3060\u304c\u30a4\u30f3\u30d5\u30ec\u306f\u9577\u5f15\u304f\u3002\u8a31\u5bb9\u3067\u304d\u306a\u3044\u6c34\u6e96\u3067\u9ad8\u6b62\u307e\u308a\u3059\u308b\u3060\u308d\u3046\u3057\u3001\u4e2d\u592e\u9280\u884c\u304c2%\u304c\u3069\u3046\u3068\u304b\u8a00\u3063\u3066\u3044\u308b\u306e\u306f\u7b11\u3044\u4e8b\u306b\u904e\u304e\u306a\u3044\u3002\u9b54\u6cd5\u306e\u6756\u3067\u3082\u4f7f\u3046\u306e\u3060\u308d\u3046\u304b\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\u306e\u6307\u6458\u306f\u4eca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u8003\u3048\u308b\u4e0a\u3067\u91cd\u8981\u3067\u3042\u308b\u3002\u30a4\u30f3\u30d5\u30ec2\u5e74\u76ee\u4ee5\u964d\u306f\u524d\u5e74\u306e\u9ad8\u3044\u7269\u4fa1\u3088\u308a\u3082\u9ad8\u304f\u306a\u3089\u306a\u3051\u308c\u3070\u30a4\u30f3\u30d5\u30ec\u306f\u7d99\u7d9a\u3057\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u300c\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u304c\u4e0a\u304c\u3089\u306a\u3051\u308c\u3070\u300d\u3068\u3044\u3046\u6761\u4ef6\u3082\u4ed8\u3051\u305f\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u306b\u3088\u308b\u539f\u6cb9\u4fa1\u683c\u3084\u5c0f\u9ea6\u4fa1\u683c\u306e\u9ad8\u9a30\u306a\u3069\u306f\u3001\u305d\u308c\u3092\u539f\u6750\u6599\u3068\u3059\u308b\u88fd\u54c1\u4fa1\u683c\u306b\u5b8c\u5168\u306b\u306f\u8ee2\u5ac1\u3055\u308c\u3066\u3044\u306a\u3044\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\/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>\u91d1\u878d\u5e02\u5834\u3067\u9ad8\u9a30\u3057\u305f\u539f\u6cb9\u3084\u5c0f\u9ea6\u306e\u4fa1\u683c\u306f\u3001\u6570\u30f6\u6708\u3092\u304b\u3051\u3066\u88fd\u54c1\u4fa1\u683c\u306b\u8ee2\u5ac1\u3055\u308c\u3066\u3086\u304f\u3002\u305d\u308c\u306f\u3053\u308c\u304b\u3089\u3067\u3042\u308b\u3002\u539f\u6cb9\u4fa1\u683c\u306f\u307e\u305f\u4e0a\u6607\u3092\u958b\u59cb\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\/04\/2022-4-17-wti-crude-oil-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"406\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-4-17-wti-crude-oil-chart.png\" alt=\"\" class=\"wp-image-23179\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-4-17-wti-crude-oil-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/04\/2022-4-17-wti-crude-oil-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u524d\u5e74\u540c\u6708\u6bd4\u306e\u7d71\u8a08\u52b9\u679c\u3092\u5dee\u3057\u5f15\u3044\u3066\u3082\u3084\u306f\u308a\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u9ad8\u3044\u6c34\u6e96\u304c\u7d9a\u304d\u305d\u3046\u3067\u3042\u308a\u3001\u305d\u3057\u3066\u7d71\u8a08\u4e0a\u306e\u4ed5\u7d44\u307f\u306b\u3088\u308b\u6570\u5b57\u306e\u4e0a\u4e0b\u306f\u3001\u4eba\u3005\u306e\u5b9f\u751f\u6d3b\u304c\u30a4\u30f3\u30d5\u30ec\u3067\u5bb3\u3055\u308c\u3066\u3086\u304f\u3053\u3068\u3068\u306f\u95a2\u4fc2\u304c\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u98df\u6599\u306e\u8caf\u84c4\u306f\u5341\u5206\u3060\u308d\u3046\u304b\uff1f\u3000\u7269\u4fa1\u9ad8\u9a30\u306f\u3082\u3046\u6295\u8cc7\u304c\u3069\u3046\u3068\u304b\u8a00\u3063\u3066\u3044\u3089\u308c\u308b\u6c34\u6e96\u3092\u8d8a\u3048\u3066\u3044\u308b\u306e\u3067\u3042\u308a\u3001\u305d\u308c\u306f\u73fe\u91d1\u7d66\u4ed8\u3068\u8131\u70ad\u7d20\u653f\u7b56\u3068\u5bfe\u30ed\u30b7\u30a2\u6226\u4e89\u3068\u305d\u308c\u3092\u652f\u6301\u3057\u305f\u611a\u304b\u306a\u4eba\u3005\u304c\u539f\u56e0\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\/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\/22710\" data-type=\"post\" data-id=\"22710\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u4eba\u3005\u304c\u3069\u3093\u3069\u3093\u30a4\u30f3\u30d5\u30ec\u30de\u30a4\u30f3\u30c9\u306b\u5909\u308f\u3063\u3066\u3086\u304f<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/23074\" data-type=\"post\" data-id=\"23074\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: 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