{"id":25382,"date":"2022-06-15T20:02:00","date_gmt":"2022-06-15T11:02:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=25382"},"modified":"2022-06-15T18:17:05","modified_gmt":"2022-06-15T09:17:05","slug":"%e6%a0%aa%e5%ae%89%e6%ad%a2%e3%81%be%e3%82%89%e3%81%9a%e5%be%90%e3%80%85%e3%81%ab%e4%b8%8d%e5%ae%89%e3%82%92%e6%84%9f%e3%81%98%e5%a7%8b%e3%82%81%e3%81%a6%e3%81%84%e3%82%8b%e6%a0%aa%e5%bc%8f%e5%b8%82","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/25382","title":{"rendered":"\u682a\u4fa1\u66b4\u843d\u306e\u5e95\u5024\u3092\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u3092\u8aad\u3080\u3053\u3068\u3067\u4e88\u60f3\u3059\u308b"},"content":{"rendered":"\n<p>\u682a\u5b89\u304c\u6b62\u307e\u3089\u306a\u3044\u3002\u7c73\u56fd\u682a\u306f\u6700\u8fd1\u306e\u5b89\u5024\u3092\u66f4\u65b0\u3057\u3001\u65e5\u672c\u682a\u3082\u305d\u308c\u306b\u5fdc\u3058\u3066\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u682a\u5b89\u304c\u3044\u3064\u307e\u3067\u7d9a\u304f\u304b\u3092\u6c17\u306b\u3057\u3066\u3044\u308b\u4eba\u3082\u591a\u3044\u3060\u308d\u3046\u304c\u3001\u305d\u308c\u3092\u4e88\u60f3\u3059\u308b1\u3064\u306e\u65b9\u6cd5\u306f\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u3092\u773a\u3081\u308b\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u4e0b\u843d\u76f8\u5834\u306e\u96f0\u56f2\u6c17<\/strong><\/p>\n\n\n\n<p>\u307e\u305a\u306f\u7c73\u56fd\u682a\u306e\u30c1\u30e3\u30fc\u30c8\u304b\u3089\u63b2\u8f09\u3057\u3088\u3046\u3002\u4ee5\u4e0b\u306fS&amp;P 500\u306e\u30c1\u30e3\u30fc\u30c8\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\/06\/2022-6-15-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"668\" height=\"469\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-25387\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-chart.png 668w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-chart-300x211.png 300w\" sizes=\"auto, (max-width: 668px) 100vw, 668px\" \/><\/a><\/figure>\n\n\n\n<p>\u9806\u8abf\u306b\u843d\u3061\u3066\u3044\u308b\u3002\u5468\u77e5\u306e\u901a\u308a\u3001\u7b46\u8005\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u306e\u9803\u304b\u3089\u7c73\u56fd\u682a\u3092\u7a7a\u58f2\u308a\u3057\u3066\u3044\u308b\u306e\u3067\u682a\u5b89\u3067\u4f55\u306e\u554f\u984c\u3082\u306a\u3044\u306e\u3060\u304c\u3001\u305d\u308c\u306b\u3057\u3066\u3082\u5927\u304d\u306a\u53cd\u767a\u3082\u306a\u3057\u306b\u843d\u3061\u3066\u3086\u304f\u3082\u306e\u3060\u3068\u601d\u3046\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>\u3053\u306e\u30c1\u30e3\u30fc\u30c8\u3060\u3051\u3092\u898b\u3066\u3044\u308c\u3070\u3001\u6de1\u3005\u3068\u4e0b\u843d\u3092\u7d9a\u3051\u3066\u3044\u308b\u3088\u3046\u306b\u3057\u304b\u898b\u3048\u306a\u3044\u3002\u3060\u304c\u76f8\u5834\u306e\u96f0\u56f2\u6c17\u306f\u5c11\u3057\u305a\u3064\u5909\u5316\u3057\u3066\u3044\u308b\u3002\u305d\u308c\u3092\u53ef\u8996\u5316\u3057\u3066\u304f\u308c\u308b\u306e\u304c\u4eca\u5f8c\u306e\u682a\u4fa1\u306e\u4e0a\u4e0b\u52d5\u306e\u6fc0\u3057\u3055\u306e\u5e02\u5834\u4e88\u60f3\u5024\u3067\u3042\u308b\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>S&amp;P 500\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\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\/06\/2022-6-15-s-and-p-500-vix-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"668\" height=\"469\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-chart.png\" alt=\"\" class=\"wp-image-25390\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-chart.png 668w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-chart-300x211.png 300w\" sizes=\"auto, (max-width: 668px) 100vw, 668px\" \/><\/a><\/figure>\n\n\n\n<p>\u3058\u308a\u3058\u308a\u3068\u4e0b\u5024\u3092\u5207\u308a\u4e0a\u3052\u3066\u304d\u3066\u3044\u308b\u306e\u304c\u5206\u304b\u308b\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<p><strong>\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u306e\u8aad\u307f\u65b9<\/strong><\/p>\n\n\n\n<p>\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u306e\u4e0a\u6607\u306f\u4f55\u3092\u610f\u5473\u3059\u308b\u3060\u308d\u3046\u304b\u3002\u601d\u3044\u51fa\u3057\u3066\u307b\u3057\u3044\u306e\u306f\u3001\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><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>\u3053\u306e\u8a18\u4e8b\u306f\u3001\u5e02\u5834\u306e\u96f0\u56f2\u6c17\u3068\u3044\u3046\u89b3\u70b9\u304b\u3089\u73fe\u5728\u306e\u66b4\u843d\u76f8\u5834\u306e\u5e95\u304c\u3044\u3064\u304b\u3068\u3044\u3046\u3053\u3068\u3092\u4e88\u60f3\u3057\u305f\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3053\u3067\u306f\u307e\u305a\u3001\u7c73\u56fd\u682a\u306f\u4e0a\u304c\u308a\u7d9a\u3051\u308b\u3068\u3044\u3046\u91d1\u878d\u5e81\u306e\u30c7\u30de\u306b\u4e57\u305b\u3089\u308c\u305f\u65e5\u672c\u306e\u500b\u4eba\u306a\u3069\u3001\u591a\u304f\u306e\u76f8\u5834\u306e\u7d20\u4eba\u304c\u682a\u5f0f\u5e02\u5834\u306b\u53c2\u5165\u3057\u3066\u3044\u308b\u4eca\u5e74\u524d\u534a\u306e\u72b6\u6cc1\u3092\u30d0\u30d6\u30eb\u3067\u3042\u308b\u3068\u5b9a\u7fa9\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u5f7c\u3089\u304c\u30d1\u30cb\u30c3\u30af\u306b\u306a\u308a\u72fc\u72fd\u58f2\u308a\u3092\u3059\u308b\u72b6\u614b\u3092\u30d0\u30d6\u30eb\u5d29\u58ca\u306e\u5e95\u5024\u3067\u3042\u308b\u3068\u5b9a\u7fa9\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u4eca\u306f\u660e\u3089\u304b\u306b\u305d\u306e\u771f\u3093\u4e2d\u306b\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u5e95\u5024\u307e\u3067\u306e\u8ddd\u96e2<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u305d\u308c\u306f\u5929\u4e95\u3088\u308a\u306e\u771f\u3093\u4e2d\u3060\u308d\u3046\u304b\uff1f\u3000\u5927\u5e95\u3088\u308a\u306e\u771f\u3093\u4e2d\u3060\u308d\u3046\u304b\uff1f<\/p>\n\n\n\n<p>\u305d\u308c\u3092\u6559\u3048\u3066\u304f\u308c\u308b\u306e\u304c\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u3067\u3042\u308b\u3002\u904e\u53bb\u306e\u66b4\u843d\u3068\u6bd4\u3079\u308b\u305f\u3081\u306b\u3082\u3046\u5c11\u3057\u9577\u671f\u306e\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\/06\/2022-6-15-s-and-p-500-vix-long-term-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"668\" height=\"469\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-long-term-chart.png\" alt=\"\" class=\"wp-image-25402\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-long-term-chart.png 668w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-long-term-chart-300x211.png 300w\" sizes=\"auto, (max-width: 668px) 100vw, 668px\" \/><\/a><\/figure>\n\n\n\n<p>\u3053\u306e\u30c1\u30e3\u30fc\u30c8\u304b\u3089\u3001\u73fe\u5728\u306e\u5e02\u5834\u306e\u30d1\u30cb\u30c3\u30af\u5ea6\u5408\u3044\u306f2020\u5e74\u306e\u30b3\u30ed\u30ca\u682a\u5b89\u306f\u304a\u308d\u304b\u30012018\u5e74\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306b\u3088\u308b\u4e16\u754c\u540c\u6642\u682a\u5b89\u306b\u3082\u53ca\u3093\u3067\u3044\u306a\u3044\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/7959\" data-type=\"post\" data-id=\"7959\">\u4e16\u754c\u540c\u6642\u682a\u5b89\u3092\u4e88\u60f3\u3067\u304d\u305f\u7406\u7531\u3068\u682a\u4fa1\u4e0b\u843d\u306e\u539f\u56e0 (2018\/10\/28)<\/a><\/li><\/ul>\n\n\n\n<p>\u3060\u304c\u5e02\u5834\u306f\u5f90\u3005\u306b\u4e0d\u5b89\u304c\u3063\u3066\u304d\u3066\u3044\u308b\u3002\u682a\u5b89\u304c\u3042\u307e\u308a\u306b\u3082\u6b62\u307e\u3089\u306a\u3044\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u5e02\u5834\u306e\u4e0d\u5b89\u3092\u4e88\u60f3\u3059\u308b<\/strong><\/p>\n\n\n\n<p>\u3053\u306e\u5e02\u5834\u306e\u4e0d\u5b89\u304c\u4eca\u5f8c\u3069\u3046\u306a\u308b\u304b\u3092\u4e88\u60f3\u3057\u3066\u307f\u3088\u3046\u3002<\/p>\n\n\n\n<p>\u77ed\u671f\u7684\u306a\u53cd\u767a\u306f\u3042\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001\u57fa\u672c\u7684\u306b\u682a\u5b89\u306f\u3053\u306e\u307e\u307e\u9032\u307f\u3001\u5e02\u5834\u306f\u307e\u305a2018\u5e74\u3068\u540c\u3058\u7a0b\u5ea6\u306e\u30d1\u30cb\u30c3\u30af\u306b\u9665\u308b\u3002\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306e\u8a71\u306f\u805e\u3044\u3066\u3044\u3066\u3082\u3001\u305d\u308c\u3092\u5b9f\u611f\u3057\u306a\u3044\u307e\u307e\u682a\u5f0f\u3092\u6301\u3061\u7d9a\u3051\u3066\u3044\u308b\u4eba\u304c\u30d1\u30cb\u30c3\u30af\u306b\u9665\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u6642\u7c73\u56fd\u682a\u306f\u4f55\u51e6\u307e\u3067\u4e0b\u304c\u3063\u3066\u3044\u308b\u3060\u308d\u3046\u304b\uff1f\u3000\u3082\u3046\u5c11\u3057\u9577\u671f\u306e\u7c73\u56fd\u682a\u30c1\u30e3\u30fc\u30c8\u3092\u6301\u3063\u3066\u3053\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\/06\/2022-6-15-s-and-p-500-long-term-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"668\" height=\"469\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-long-term-chart.png\" alt=\"\" class=\"wp-image-25412\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-long-term-chart.png 668w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-long-term-chart-300x211.png 300w\" sizes=\"auto, (max-width: 668px) 100vw, 668px\" \/><\/a><\/figure>\n\n\n\n<p>\u73fe\u5728\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u304c32\u3060\u304b\u3089\u3001\u3053\u3053\u304b\u30892018\u5e74\u306e\u6c34\u6e96\u3067\u3042\u308b50\u307e\u3067\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u304c\u4e0a\u304c\u308b\u305f\u3081\u306b\u306f\u3001\u6050\u3089\u304f\u682a\u4fa1\u306f3,200\u304b\u30893,400\u7a0b\u5ea6\u306e\u6c34\u6e96\u307e\u3067\u843d\u3061\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u306e\u3067\u306f\u306a\u3044\u304b\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306f\u30b3\u30ed\u30ca\u524d\u306e\u6c34\u6e96\u307e\u3067\u306e\u9006\u623b\u308a\u3092\u610f\u5473\u3059\u308b\u3002\u305d\u3053\u307e\u3067\u4e0b\u304c\u308c\u3070\u3001\u307e\u3060\u682a\u5f0f\u3092\u4fdd\u6709\u3057\u3066\u3044\u308b\u304c\u4e8b\u614b\u306e\u6df1\u523b\u3055\u3092\u7406\u89e3\u3057\u3066\u3044\u306a\u3044\u4eba\u3005\u304c\u30d1\u30cb\u30c3\u30af\u306b\u9665\u3063\u3066\u304f\u308b\u306f\u305a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u308c\u3067\u3088\u3046\u3084\u304f2018\u5e74\u306e\u540c\u3058\u7a0b\u5ea6\u306e\u6df7\u4e71\u3060\u3068\u3044\u3046\u3053\u3068\u3092\u8003\u3048\u3066\u3082\u3089\u3044\u305f\u3044\u3002\u305d\u3057\u30662018\u5e74\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306f\u3001\u73fe\u5728\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306e\u534a\u5206\u306e\u898f\u6a21\u3067\u3042\u308a\u3001\u3057\u304b\u3082\u5f53\u6642\u306f\u5f15\u304d\u7de0\u3081\u3092\u6b62\u3081\u3089\u308c\u305f\u304c\u4eca\u306f\u7269\u4fa1\u9ad8\u9a30\u306e\u305f\u3081\u306b\u5f15\u304d\u7de0\u3081\u3092\u6b62\u3081\u3089\u308c\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3092\u8003\u616e\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3060\u308d\u3046\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><strong>\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u306e\u7d42\u7740\u70b9<\/strong><\/p>\n\n\n\n<p>\u3060\u304b\u3089\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u306f\u305d\u3053\u3067\u306f\u6b62\u307e\u3089\u306a\u3044\u3002\u305d\u306e\u5f8c\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u306f\u3069\u3046\u306a\u308b\u3060\u308d\u3046\u304b\uff1f\u3000\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\/06\/2022-6-15-s-and-p-500-vix-long-term-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"668\" height=\"469\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-long-term-chart.png\" alt=\"\" class=\"wp-image-25402\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-long-term-chart.png 668w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-long-term-chart-300x211.png 300w\" sizes=\"auto, (max-width: 668px) 100vw, 668px\" \/><\/a><\/figure>\n\n\n\n<p>\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u304c\u4f55\u51e6\u307e\u3067\u884c\u304f\u304b\u3092\u4e88\u60f3\u3059\u308b\u305f\u3081\u306b\u306f\u3001\u73fe\u5728\u306e\u5371\u6a5f\u304c\u3069\u308c\u3060\u3051\u306e\u3082\u306e\u304b\u3092\u5b9f\u611f\u3057\u3066\u3044\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u73fe\u5728\u306e\u76f8\u5834\u306e\u72b6\u6cc1\u306f\u3069\u3046\u3044\u3046\u3082\u306e\u304b\u30021980\u5e74\u306e\u30ec\u30fc\u30ac\u30f3\u653f\u6a29\u306e\u9803\u304b\u308940\u5e74\u4ee5\u4e0a\u682a\u4fa1\u3092\u652f\u3048\u3066\u304d\u305f\u91d1\u878d\u7de9\u548c\u306e\u7d42\u308f\u308a\u3067\u3042\u308a\u3001\u3057\u304b\u3082\u305d\u308c\u306f\u5229\u4e0a\u3052\u3068\u91cf\u7684\u5f15\u304d\u7de0\u3081\u3068\u3044\u3046\u5f62\u3067\u9006\u56de\u3057\u306b\u306a\u3063\u3066\u304a\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u53ce\u307e\u308b\u307e\u3067\u305d\u308c\u3092\u6b62\u3081\u308b\u3053\u3068\u306f\u3067\u304d\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24193\" data-type=\"post\" data-id=\"24193\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3067\u30bd\u30d5\u30c8\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u306f\u7121\u7406<\/a><\/li><\/ul>\n\n\n\n<p>\u682a\u5f0f\u3092\u8cb7\u3044\u6301\u3061\u306b\u3057\u3066\u3044\u308b\u500b\u4eba\u6295\u8cc7\u5bb6\u306b\u805e\u3051\u3070\u3001\u300c\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306e\u3053\u3068\u306f\u5206\u304b\u3063\u3066\u3044\u308b\u300d\u3068\u8a00\u3046\u3060\u308d\u3046\u3002\u3060\u304c\u5f7c\u3089\u306f\u4f55\u3082\u5206\u304b\u3063\u3066\u3044\u306a\u3044\u30022021\u5e74\u306b\u91d1\u878d\u5e81\u306b\u9a19\u3055\u308c\u3066\u682a\u3092\u8cb7\u3063\u305f\u4eba\u3005\u306f\u30012013\u5e74\u306e\u30a2\u30d9\u30ce\u30df\u30af\u30b9\u3067\u91cf\u7684\u7de9\u548c\u304c\u3069\u308c\u307b\u3069\u6fc0\u3057\u304f\u682a\u4fa1\u3092\u652f\u3048\u305f\u304b\u3092\u77e5\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u308c\u3092\u77e5\u3063\u3066\u3044\u308b\u4eba\u306f\u3001\u305d\u306e\u9006\u56de\u3057\u3067\u3042\u308b\u91cf\u7684\u5f15\u304d\u7de0\u3081\u304c\u3069\u308c\u307b\u3069\u6fc0\u3057\u304f\u682a\u4fa1\u3092\u4e0b\u843d\u3055\u305b\u308b\u304b\u3092\u77e5\u3063\u3066\u3044\u308b\u306f\u305a\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u3053\u306e\u5371\u6a5f\u611f\u306f\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u3092\u898b\u308b\u9650\u308a\u3001\u307e\u3060\u5927\u591a\u6570\u306e\u5e02\u5834\u53c2\u52a0\u8005\u306b\u884c\u304d\u6e21\u3063\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u682a\u5f0f\u5e02\u5834\u306f\u3053\u308c\u304b\u3089\u307e\u305a2018\u5e74\u3068\u540c\u3058\u30d1\u30cb\u30c3\u30af\u306b\u9665\u308a\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u306f50\u307e\u3067\u4e0a\u304c\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\/06\/2022-6-15-s-and-p-500-vix-long-term-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"668\" height=\"469\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-long-term-chart.png\" alt=\"\" class=\"wp-image-25402\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-long-term-chart.png 668w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-vix-long-term-chart-300x211.png 300w\" sizes=\"auto, (max-width: 668px) 100vw, 668px\" \/><\/a><\/figure>\n\n\n\n<p>\u305d\u3057\u3066\u300c\u3053\u3053\u307e\u3067\u843d\u3061\u305f\u304b\u3089\u306b\u306f\u305d\u308d\u305d\u308d\u5e95\u3060\u308d\u3046\u300d\u3068\u601d\u3046\u4eba\u3005\u306b\u5bfe\u3057\u3066\u3001\u30b3\u30ed\u30ca\u682a\u5b89\u306e\u3088\u3046\u306b\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u304c80\u307e\u3067\u4e0a\u304c\u308b\u66f4\u306a\u308b\u66b4\u843d\u3092\u3082\u3063\u306640\u5e74\u306e\u5de8\u5927\u7de9\u548c\u30d0\u30d6\u30eb\u306e\u5d29\u58ca\u304c\u3069\u3046\u3044\u3046\u3082\u306e\u304b\u3092\u601d\u3044\u77e5\u3089\u305b\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u7d50\u679c\u3068\u3057\u3066\u3001\u3084\u306f\u308aS&amp;P 500\u306f2,500\u7a0b\u5ea6\u307e\u3067\u884c\u304f\u306e\u3067\u306f\u306a\u3044\u304b\u3002\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u306f\u305d\u308c\u3092\u544a\u3052\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\/06\/2022-6-15-s-and-p-500-long-term-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"668\" height=\"469\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-long-term-chart.png\" alt=\"\" class=\"wp-image-25412\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-long-term-chart.png 668w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/2022-6-15-s-and-p-500-long-term-chart-300x211.png 300w\" sizes=\"auto, (max-width: 668px) 100vw, 668px\" \/><\/a><\/figure>\n\n\n\n<p>\u305d\u3057\u3066\u682a\u306e\u7a7a\u58f2\u308a\u4ee5\u5916\u306b\u5229\u76ca\u3092\u51fa\u3059\u65b9\u6cd5\u304c\u5c11\u306a\u3044\u73fe\u5728\u306e\u76f8\u5834\u3067\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u306e\u8cb7\u3044\u306f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u591a\u69d8\u6027\u3092\u5897\u3084\u3057\u3066\u304f\u308c\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u52ff\u8ad6\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u306f\u5e95\u5024\u3092\u898b\u6975\u3081\u308b1\u3064\u306e\u65b9\u6cd5\u306b\u904e\u304e\u306a\u3044\u3002\u4ed6\u306b\u3082\u4e2d\u592e\u9280\u884c\u304c\u4f55\u51e6\u3067\u65b9\u5411\u8ee2\u63db\u3059\u308b\u304b\u306a\u3069\u3001\u8003\u3048\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3053\u3068\u306f\u591a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/25346\" data-type=\"post\" data-id=\"25346\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u682a\u4fa1\u66b4\u843d\u3068\u666f\u6c17\u5f8c\u9000\u3067\u4e2d\u592e\u9280\u884c\u306f\u7de9\u548c\u518d\u958b\u3001\u30c9\u30eb\u66b4\u843d\u3078<\/a><\/li><\/ul>\n\n\n\n<p>\u3060\u304c\u682a\u4fa1\u304c\u4f55\u51e6\u306b\u884c\u304f\u304b\u306f\u65e2\u306b\u6c7a\u307e\u3063\u3066\u3044\u308b\u3002\u5c11\u306a\u304f\u3068\u3082\u3001\u7b46\u8005\u3084\u8457\u540d\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3089\u306f\u305d\u3046\u601d\u3063\u3066\u3044\u308b\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\/24609\" data-type=\"post\" data-id=\"24609\">\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<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/25236\" data-type=\"post\" data-id=\"25236\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u3001\u682a\u5f0f\u3068\u50b5\u5238\u3092\u5927\u91cf\u7a7a\u58f2\u308a\u306b\u6210\u529f\u3000\u682a\u5b89\u306f\u7d9a\u304f<\/a><\/li><\/ul>\n\n\n\n<p>\u305d\u3057\u3066\u5f7c\u3089\u306f\u3001\u4e00\u822c\u306e\u4eba\u3005\u304c\u4e8b\u614b\u306e\u6df1\u523b\u3055\u3092\u307e\u3060\u697d\u89b3\u8996\u3057\u3066\u3044\u308b\u3068\u611f\u3058\u308b\u9650\u308a\u7a7a\u58f2\u308a\u3092\u7d9a\u3051\u308b\u3060\u308d\u3046\u3002\u5c11\u306a\u304f\u3068\u3082\u7b46\u8005\u306f\u305d\u3046\u3059\u308b\u3064\u3082\u308a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><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","protected":false},"excerpt":{"rendered":"<p>\u682a\u5b89\u304c\u6b62\u307e\u3089\u306a\u3044\u3002\u7c73\u56fd\u682a\u306f\u6700\u8fd1\u306e\u5b89\u5024\u3092\u66f4\u65b0\u3057\u3001\u65e5\u672c\u682a\u3082\u305d\u308c\u306b\u5fdc\u3058\u3066\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002 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