{"id":24609,"date":"2022-05-23T20:01:00","date_gmt":"2022-05-23T11:01:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=24609"},"modified":"2022-05-23T12:16:10","modified_gmt":"2022-05-23T03:16:10","slug":"%e3%83%9d%e3%82%ba%e3%82%b5%e3%83%bc%e6%b0%8f-%e7%b1%b3%e5%9b%bd%e6%a0%aa%e6%9a%b4%e8%90%bd%e3%81%a7%e3%82%b3%e3%83%ad%e3%83%8a%e6%a0%aa%e5%ae%89%e6%99%82%e3%81%ae%e5%ba%95%e5%80%a4%e3%81%ab%e9%80%86","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24609","title":{"rendered":"\u30dd\u30ba\u30b5\u30fc\u6c0f: 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class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24257\" data-type=\"post\" data-id=\"24257\">\u30a2\u30e1\u30ea\u30ab\u306e4\u6708\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u3001\u4e88\u60f3\u4e0a\u56de\u308b\u3000\u682a\u4fa1\u306f\u4e0b\u843d<\/a><\/li><\/ul>\n\n\n\n<p>\u305d\u3057\u3066\u4eca\u3084Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306f\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u30012018\u5e74\u306b\u4e16\u754c\u540c\u6642\u682a\u5b89\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u6642\u306e2\u500d\u306e\u901f\u5ea6\u3067\u5229\u4e0a\u3052\u3068\u91cf\u7684\u5f15\u304d\u7de0\u3081\uff08\u91cf\u7684\u7de9\u548c\u306e\u9006\u8ee2\uff09\u3092\u884c\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\/24032\" data-type=\"post\" data-id=\"24032\">5\u6708FOMC\u7d50\u679c\u30012018\u5e74\u4e16\u754c\u540c\u6642\u682a\u5b89\u6642\u306e2\u500d\u306e\u898f\u6a21\u306e\u91cf\u7684\u5f15\u304d\u7de0\u3081\u958b\u59cb<\/a><\/li><\/ul>\n\n\n\n<p>\u3053\u306e\u72b6\u6cc1\u3067\u30dd\u30ba\u30b5\u30fc\u6c0f\u304c\u6307\u6458\u3057\u305f\u3044\u306e\u306f\u3001\u305d\u3082\u305d\u3082\u91cf\u7684\u7de9\u548c\u3068\u306f\u3069\u3046\u3044\u3046\u653f\u7b56\u3067\u3042\u3063\u305f\u304b\u3067\u3042\u308b\u3002\u5f7c\u306f\u6b21\u306e\u3088\u3046\u306b\u6307\u6458\u3059\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u91cf\u7684\u7de9\u548c\u306e\u5143\u3005\u306e\u76ee\u7684\u306f\u30c7\u30d5\u30ec\u3092\u56de\u907f\u3059\u308b\u305f\u3081\u306b\u4fa1\u683c\u3092\u4e0a\u3052\u308b\u3053\u3068\u3060\u3063\u305f\u3002\u4f4f\u5b85\u4fa1\u683c\u3092\u4e0a\u3052\u3001\u682a\u4fa1\u3092\u4e0a\u3052\u3001\u7269\u4fa1\u6c34\u6e96\u3092\u4e0a\u3052\u308b\u3053\u3068\u304c\u76ee\u6a19\u3060\u3063\u305f\u3002<\/p><\/blockquote>\n\n\n\n<p>\u91cf\u7684\u7de9\u548c\u306f\u682a\u4fa1\u3092\u62bc\u3057\u4e0a\u3052\u305f\u3002\u305d\u3057\u3066\u62bc\u3057\u4e0a\u3052\u3089\u308c\u305f\u682a\u4fa1\u306f\u91cf\u7684\u7de9\u548c\u306e\u526f\u7523\u7269\u3067\u306f\u306a\u304f\u3001\u305d\u308c\u305d\u306e\u3082\u306e\u304c\u4f01\u696d\u3084\u6d88\u8cbb\u8005\uff08\u306e\u4e00\u90e8\uff09\u3092\u88d5\u798f\u306b\u3057\u3001\u6d88\u8cbb\u3084\u6295\u8cc7\u3092\u6d3b\u6027\u5316\u3055\u305b\u305f\u3002<\/p>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u682a\u4fa1\u3092\u542b\u3081\u305f\u8cc7\u7523\u4fa1\u683c\u306e\u4e0a\u6607\u306f\u91cf\u7684\u7de9\u548c\u3068\u3044\u3046\u653f\u7b56\u306e\u4e00\u90e8\u3068\u3057\u3066\u7d44\u307f\u8fbc\u307e\u308c\u3001\u305d\u308c\u304c\u3042\u3063\u305f\u304b\u3089\u3053\u305d\u3053\u308c\u307e\u3067\u7d4c\u6e08\u304c\u6d6e\u63da\u3057\u3066\u304d\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3067\u306f\u305d\u308c\u304c\u306a\u304f\u306a\u3063\u305f\u3089\u3069\u3046\u306a\u308b\u304b\uff1f\u3000\u305d\u308c\u3069\u3053\u308d\u304b\u3001\u91cf\u7684\u7de9\u548c\u306b\u3088\u3063\u3066\u80a5\u5927\u3057\u3066\u304d\u305f\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u3092\u6e1b\u5c11\u3055\u305b\u308b\u91cf\u7684\u5f15\u304d\u7de0\u3081\u304c\u884c\u308f\u308c\u308c\u3070\u3069\u3046\u306a\u308b\u3060\u308d\u3046\u304b\uff1f<\/p>\n\n\n\n<p>\u30dd\u30ba\u30b5\u30fc\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>\u91cf\u7684\u7de9\u548c\u306e\u672c\u8cea\u304c\u8cc7\u7523\u4fa1\u683c\u3092\u4e0a\u6607\u3055\u305b\u3066\u30c7\u30d5\u30ec\u3068\u6226\u3046\u3053\u3068\u3067\u3042\u3063\u305f\u306a\u3089\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u6226\u3046\u305f\u3081\u306b\u306f\u8cc7\u7523\u4fa1\u683c\u306e\u4f4e\u4e0b\u304c\u5fc5\u9808\u6761\u4ef6\u3060\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u8ab0\u3082\u304c\u8003\u3048\u305f\u304c\u3089\u306a\u3044\u5f53\u305f\u308a\u524d\u306e\u7d50\u8ad6\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u682a\u5b89\u306f\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306b\u5fc5\u8981<\/strong><\/p>\n\n\n\n<p>\u8a00\u308f\u308c\u3066\u307f\u308c\u3070\u5f53\u305f\u308a\u524d\u3067\u306f\u306a\u3044\u304b\u3002\u91cf\u7684\u7de9\u548c\u304c\u682a\u4fa1\u3092\u4e0a\u6607\u3055\u305b\u308b\u3053\u3068\u3067\u30a4\u30f3\u30d5\u30ec\u3092\u3082\u305f\u3089\u3059\u653f\u7b56\u3067\u3042\u308b\u3068\u3059\u308c\u3070\u3001\u91cf\u7684\u5f15\u304d\u7de0\u3081\u306f\u682a\u4fa1\u3092\u4e0b\u843d\u3055\u305b\u308b\u3053\u3068\u3067\u30c7\u30d5\u30ec\u3092\u3082\u305f\u3089\u3059\u653f\u7b56\u3067\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u91cf\u7684\u5f15\u304d\u7de0\u3081\u3092\u884c\u3044\u3001\u30a4\u30f3\u30d5\u30ec\u306f\u53ce\u307e\u308b\u304c\u682a\u4fa1\u306f\u7121\u4e8b\u3067\u6e08\u3080\u3068\u601d\u3063\u3066\u3044\u308b\u4eba\u306f\u3001\u5358\u306b\u3053\u308c\u307b\u3069\u7c21\u5358\u306a\u8ad6\u7406\u3092\u7406\u89e3\u3067\u304d\u3066\u3044\u306a\u3044\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30dd\u30ba\u30b5\u30fc\u6c0f\u306f\u5143\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u9023\u9280\u7dcf\u88c1\u306e\u30d3\u30eb\u30fb\u30c0\u30c9\u30ea\u30fc\u6c0f\u306e\u4ee5\u4e0b\u306e\u767a\u8a00\u3092\u5f15\u7528\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>\u30a4\u30f3\u30d5\u30ec\u3092\u5236\u5fa1\u3059\u308b\u305f\u3081\u306b\u306f\u3001\u3069\u306e\u3088\u3046\u306a\u65b9\u6cd5\u3067\u3042\u308cFed\u306f\u50b5\u5238\u306e\u91d1\u5229\u3092\u4e0a\u6607\u3055\u305b\u682a\u4fa1\u3092\u4e0b\u3052\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002<\/p><\/blockquote>\n\n\n\n<p>\u4f55\u6545\u306a\u3089\u3070\u3001\u682a\u4fa1\u306e\u4e0a\u6607\u3053\u305d\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u3082\u305f\u3089\u3057\u3066\u304d\u305f\u5927\u304d\u306a\u8981\u56e0\u3060\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30dd\u30ba\u30b5\u30fc\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>\u91cf\u7684\u7de9\u548c\u306f\u5c45\u5ea7\u308a\u3059\u304e\u305f\u3002\u4eca\u3084\u8ca0\u306e\u8cc7\u7523\u52b9\u679c\u3001\u3064\u307e\u308a\u30b7\u30e7\u30c3\u30af\u7642\u6cd5\u304c\u5fc5\u8981\u3067\u3042\u308b\u3002<\/p><p>\u5e02\u5834\u306f\u653f\u7b56\u91d1\u5229\u304c\u4f55\u51e6\u307e\u3067\u4e0a\u304c\u308b\u304b\u3092\u77e5\u3089\u306a\u3044\u3002\u4eca\u306e\u5e02\u5834\u306e\u7e54\u308a\u8fbc\u3080\u6c34\u6e96\u307e\u3067\u3060\u308d\u3046\u304b\uff1f\u3000\u3042\u308b\u3044\u306f4%\u30845%\u307e\u3067\u4e0a\u304c\u308b\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u3053\u306e\u4e0d\u78ba\u5b9f\u6027\u304c\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3092\u751f\u307f\u3001\u682a\u5f0f\u3084\u6697\u53f7\u901a\u8ca8\u3092\u4e0b\u843d\u3055\u305b\u3066\u3044\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u3057\u304b\u3057\u305d\u308c\u306f\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u306b\u5fc5\u8981\u3067\u3042\u308b\u3002\u305d\u308c\u3092\u8e0f\u307e\u3048\u308b\u3068\u3001\u6b21\u306e\u30dd\u30ba\u30b5\u30fc\u6c0f\u306e\u7d50\u8ad6\u306b\u7e4b\u304c\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u305d\u3057\u3066\u305d\u308c\u306f\u826f\u3044\u3053\u3068\u3067\u3042\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p><strong>\u682a\u4fa1\u304c\u4f55\u51e6\u307e\u3067\u4e0b\u304c\u3089\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u304b<\/strong><\/p>\n\n\n\n<p>\u3053\u308c\u307e\u3067\u6295\u8cc7\u5bb6\u306f\u30a4\u30f3\u30d5\u30ec\u3092\u6291\u5236\u3059\u308b\u305f\u3081\u306b\u306f\u91d1\u5229\u304c\u4f55\u51e6\u307e\u3067\u4e0a\u304c\u3089\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u304b\u3068\u3044\u3046\u3053\u3068\u3092\u8003\u3048\u3066\u304d\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/23835\" data-type=\"post\" data-id=\"23835\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u306b\u91d1\u5229\u306f\u4f55\u51e6\u307e\u3067\u4e0a\u304c\u308b\u304b<\/a><\/li><\/ul>\n\n\n\n<p>\u3060\u304c\u30dd\u30ba\u30b5\u30fc\u6c0f\u306b\u3088\u308c\u3070\u3001\u672c\u5f53\u306b\u8003\u3048\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u306e\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u6291\u5236\u3059\u308b\u305f\u3081\u306b\u306f\u682a\u4fa1\u306f\u4f55\u51e6\u307e\u3067\u4e0b\u304c\u3089\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u304b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u5f7c\u306f\u5f53\u7136\u306e\u3088\u3046\u306b\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>\u30bd\u30d5\u30c8\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u306f\u6709\u308a\u5f97\u306a\u3044\u3002\u3060\u304b\u3089\u6700\u9ad8\u901f\u5ea6\u3067\u306e\u5229\u4e0a\u3052\u3068\u672a\u66fe\u6709\u306e\u91cf\u7684\u5f15\u304d\u7de0\u3081\u304c\u305d\u308c\u3092\u9054\u6210\u3067\u304d\u308b\u3088\u3046\u306a\u3075\u308a\u3092\u3059\u308b\u306e\u306f\u6b62\u3081\u3088\u3046\u3067\u306f\u306a\u3044\u304b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u8981\u3059\u308b\u306b\u554f\u984c\u3068\u306a\u308b\u306e\u306f\u3001\u682a\u4fa1\u66b4\u843d\u304c\u4f55\u51e6\u307e\u3067\u9032\u3080\u3053\u3068\u304c\u5fc5\u8981\u304b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u305d\u306e\u70b9\u306b\u3064\u3044\u3066\u3001\u30dd\u30ba\u30b5\u30fc\u6c0f\u306f\u885d\u6483\u7684\u306a\u3053\u3068\u3092\u53e3\u306b\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>Fed\u306f\u682a\u5f0f\u5e02\u5834\u304c\u30b3\u30ed\u30ca\u5f8c\u306e\u682a\u9ad8\u306e\u4e00\u90e8\u3092\u653e\u68c4\u3059\u308b\u3053\u3068\u3092\u76ee\u6307\u3059\u306e\u304b\uff1f\u3000\u305d\u308c\u3068\u3082\u305d\u306e\u3059\u3079\u3066\u3092\u653e\u68c4\u3059\u308b\u3053\u3068\u304b\uff1f\u3000\u3042\u308b\u3044\u306f\u30b3\u30ed\u30ca\u524d\u306b\u6e9c\u3081\u8fbc\u3093\u3060\u682a\u4fa1\u4e0a\u6607\u3082\u3044\u304f\u3089\u304b\u5410\u304d\u51fa\u3055\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u306e\u304b\uff1f<\/p><\/blockquote>\n\n\n\n<p>\u73fe\u5728\u3001\u7c73\u56fd\u682a\u306f\u6b21\u306e\u3088\u3046\u306a\u6c34\u6e96\u306b\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\/05\/2022-5-23-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\/05\/2022-5-23-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-24649\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/2022-5-23-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/2022-5-23-s-and-p-500-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u30dd\u30ba\u30b5\u30fc\u6c0f\u306e\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u682a\u4fa1\u4e88\u60f3<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u3053\u3053\u304b\u3089\u7c73\u56fd\u682a\u306f\u3069\u308c\u3060\u3051\u4e0b\u304c\u308b\u3060\u308d\u3046\u304b\u3002\u3060\u304c\u30dd\u30ba\u30b5\u30fc\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>\u308f\u308c\u308f\u308c\u306f\u682a\u4fa1\u76ee\u6a19\u3092\u63d0\u4f9b\u3057\u306a\u3044\u3002\u3053\u306e\u30ec\u30dd\u30fc\u30c8\u306e\u76ee\u6a19\u306f\u3001\u6295\u8cc7\u5bb6\u304c\u73fe\u5728\u76ee\u306e\u5f53\u305f\u308a\u306b\u3057\u3066\u3044\u308b\u3059\u3079\u3066\u306e\u96d1\u97f3\u3068\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306b\u3064\u3044\u3066\u8003\u3048\u308b\u305f\u3081\u306e\u30d5\u30ec\u30fc\u30e0\u30ef\u30fc\u30af\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u3067\u3042\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u3057\u304b\u3057\u305d\u306e\u6b21\u306e\u6bb5\u843d\u306b\u306f\u89aa\u5207\u306b\u3082\u6b21\u306e\u3088\u3046\u306b\u66f8\u3044\u3066\u3042\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>S&amp;P 500\u304c4,000\u7a0b\u5ea6\u3067\u306f\u3001Fed\u306f\u6e80\u8db3\u3057\u306a\u3044\u3088\u3046\u3060\u3002\u3053\u306e\u6c34\u6e96\u3092\u8d85\u3048\u308b\u3068\u5f7c\u3089\u306f\u7de9\u548c\u3092\u64a4\u56de\u3059\u308b\u3088\u3046\u306b\u898b\u3048\u308b\u3002<\/p><p>3,500\u3060\u3068\u3001\u30b3\u30ed\u30ca\u5f8c\u306e\u4e0a\u3052\u5e45\u3092\u3059\u3079\u3066\u5410\u304d\u51fa\u3059\u3053\u3068\u306b\u306a\u308b\u3002\u305f\u3060\u3001\u305d\u308c\u3067\u3082\u682a\u4fa1\u306f\u307e\u3060\u4e2d\u592e\u9280\u884c\u306b\u3088\u3063\u3066\u652f\u3048\u3089\u308c\u305f\u6c34\u6e96\u306e\u3088\u3046\u306b\u898b\u3048\u308b\u3002\u5358\u306b\u652f\u6301\u7dda\u304c\u4f4e\u3044\u3060\u3051\u3060\u3002<\/p><p>2,500\u3060\u3068\u3001\u30b3\u30ed\u30ca\u5f8c\u306e\u4e0a\u3052\u5e45\u3092\u3059\u3079\u3066\u5410\u304d\u51fa\u3059\u3060\u3051\u3067\u306f\u306a\u304f\u3001\u30b3\u30ed\u30ca\u524d\u306e\u4e0a\u6607\u306e\u3044\u304f\u3089\u304b\u3082\u5410\u304d\u51fa\u3059\u3053\u3068\u306b\u306a\u308b\u3002\u3082\u3057\u5b9f\u969b\u306b\u30b3\u30ed\u30ca\u5f8c\u306b\u52b4\u50cd\u529b\u306e\u4f9b\u7d66\u306b\u7570\u5e38\u304c\u8d77\u3053\u308a\u3001\u305d\u306e\u539f\u56e0\u306e\u4e00\u90e8\u304c\u8cc7\u7523\u4fa1\u683c\u4e0a\u6607\u306b\u3042\u308b\u306a\u3089\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u843d\u3061\u7740\u304b\u305b\u308b\u305f\u3081\u306b\u306f\u6050\u3089\u304f\u30b3\u30ed\u30ca\u524d\u306e\u8cc7\u7523\u4fa1\u683c\u304c\u9069\u5207\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u3089\u3056\u308b\u3092\u5f97\u306a\u3044\u3002<\/p><\/blockquote>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u30dd\u30ba\u30b5\u30fc\u6c0f\u306e\u682a\u4fa1\u76ee\u6a19\u306f\u6700\u9ad8\u5024\u306e\u534a\u5024\u306b\u8fd1\u30442,500\u8fd1\u8fba\u3068\u3044\u3046\u3053\u3068\u3089\u3057\u3044\u3002\u3082\u3046\u4e00\u5ea6\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\/05\/2022-5-23-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\/05\/2022-5-23-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-24649\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/2022-5-23-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/2022-5-23-s-and-p-500-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u3053\u308c\u306f1970\u5e74\u4ee3\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u7269\u4fa1\u9ad8\u9a30\u6642\u4ee3\u306b\u304a\u3051\u308b\u682a\u4fa1\u66b4\u843d\u3068\u307b\u307c\u540c\u3058\u4e0b\u843d\u5e45\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002\u5f53\u6642\u306e\u682a\u4fa1\u30c1\u30e3\u30fc\u30c8\u3092\u63b2\u8f09\u3057\u3066\u304a\u3053\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\/05\/1973-1974-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"706\" height=\"550\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/1973-1974-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-24220\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/1973-1974-s-and-p-500-chart.png 706w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/1973-1974-s-and-p-500-chart-300x234.png 300w\" sizes=\"auto, (max-width: 706px) 100vw, 706px\" \/><\/a><\/figure>\n\n\n\n<p>\u7b46\u8005\u3082\u3053\u306e\u30ec\u30d9\u30eb\u306e\u4e0b\u843d\u304c\u7269\u4fa1\u9ad8\u9a30\u6642\u306b\u304a\u3044\u3066\u306f\u5f53\u7136\u3060\u3068\u7e70\u308a\u8fd4\u3057\u3053\u3053\u3067\u66f8\u3044\u3066\u304d\u305f\u3002\u3084\u306f\u308a\u3001\u672c\u7269\u306e\u5c02\u9580\u5bb6\u306f\u8ab0\u3082\u304c\u305d\u306e\u8fba\u308a\u306e\u6c34\u6e96\u3092\u8003\u3048\u3066\u3044\u308b\u3088\u3046\u3060\u3002<\/p>\n\n\n\n<p>\u4ee5\u4e0a\u3001\u30c0\u30ea\u30aa\u6c0f\u3084\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3001\u305d\u3057\u3066\u7b46\u8005\u81ea\u8eab\u306e\u3082\u306e\u3082\u542b\u3081\u3001\u73fe\u5728\u306e\u4e0b\u843d\u76f8\u5834\u306b\u95a2\u3059\u308b\u3044\u304f\u3064\u304b\u306e\u8ad6\u8003\u3092\u7d39\u4ecb\u3057\u3066\u307f\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24577\" data-type=\"post\" data-id=\"24577\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: 40\u5e74\u7d9a\u3044\u305f\u7c73\u56fd\u682a\u5f37\u6c17\u76f8\u5834\u304c\u5d29\u58ca\u3059\u308b<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24515\" data-type=\"post\" data-id=\"24515\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u4e0b\u843d\u76f8\u5834\u306f\u307e\u3060\u5e95\u3067\u306f\u306a\u3044<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24460\" data-type=\"post\" data-id=\"24460\">2022\u5e74\u30a4\u30f3\u30d5\u30ec\u682a\u4fa1\u66b4\u843d\u306f\u500b\u4eba\u6295\u8cc7\u5bb6\u304c\u5168\u54e1\u9000\u5834\u3059\u308b\u307e\u3067\u7d9a\u304f<\/a><\/li><\/ul>\n\n\n\n<p>\u3057\u304b\u30572\u4eba\u306e\u5927\u5fa1\u6240\u3068\u6bd4\u3079\u3066\u3082\u30dd\u30ba\u30b5\u30fc\u6c0f\u306e\u8ad6\u8003\u306e\u92ed\u3055\u306f\u5149\u3063\u3066\u3044\u308b\u3002\u7686\u540c\u3058\u3053\u3068\u3092\u8003\u3048\u3066\u3044\u308b\u3053\u3068\u306b\u306f\u5909\u308f\u308a\u304c\u306a\u3044\u304c\u3001\u8aad\u8005\u306f\u3069\u306e\u30ec\u30dd\u30fc\u30c8\u304c\u4e00\u756a\u304a\u597d\u304d\u3060\u308d\u3046\u304b\uff1f<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u3053\u308c\u307e\u3067\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u3084\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u682a\u4fa1\u66b4\u843d\u4e88\u60f3\u3092\u7d39\u4ecb\u3057\u3066\u304d\u305f\u3002 \u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: 40\u5e74\u7d9a\u3044\u305f\u7c73\u56fd\u682a\u5f37\u6c17\u76f8\u5834\u304c\u5d29\u58ca\u3059\u308b \u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u4e0b\u843d\u76f8\u5834\u306f\u307e\u3060\u5e95\u3067\u306f\u306a\u3044 \u3057\u304b\u3057\u4eca\u56de\u7d39\u4ecb\u3059\u308b\u30af\u30ec\u30c7\u30a3\u30fb &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24609\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30dd\u30ba\u30b5\u30fc\u6c0f: \u7c73\u56fd\u682a\u66b4\u843d\u3067\u30b3\u30ed\u30ca\u682a\u5b89\u6642\u306e\u5e95\u5024\u306b\u9006\u623b\u308a\u3059\u308b\u53ef\u80fd\u6027<\/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":[181],"class_list":["post-24609","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets","tag-zoltan-pozsar"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/24609","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=24609"}],"version-history":[{"count":56,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/24609\/revisions"}],"predecessor-version":[{"id":24666,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/24609\/revisions\/24666"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=24609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=24609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=24609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}