{"id":28012,"date":"2022-09-08T20:03:00","date_gmt":"2022-09-08T11:03:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=28012"},"modified":"2022-09-08T13:11:50","modified_gmt":"2022-09-08T04:11:50","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e3%82%b3%e3%83%ad%e3%83%8a%e5%be%8c%e3%81%ae%e7%b7%a9%e5%92%8c%e3%81%ae%e3%82%84%e3%82%8a%e9%81%8e%e3%81%8e%e3%81%a77%e4%b8%8a","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/28012","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30b3\u30ed\u30ca\u5f8c\u306e\u7de9\u548c\u306e\u3084\u308a\u904e\u304e\u30677%\u4e0a\u304c\u3063\u305f\u30a4\u30f3\u30d5\u30ec\u7387\u3001\u5f15\u304d\u7de0\u3081\u306e\u3084\u308a\u904e\u304e\u306715%\u4e0b\u843d\u3059\u308b\u53ef\u80fd\u6027"},"content":{"rendered":"\n<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cThe Market NZZ\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u4eca\u5f8c\u306e\u5229\u4e0a\u3052\u306b\u3064\u3044\u3066\u306e\u50b5\u5238\u5e02\u5834\u306e\u5947\u5999\u306a\u7e54\u308a\u8fbc\u307f\u65b9\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u5229\u4e0b\u3052\u3092\u7e54\u308a\u8fbc\u3080\u91d1\u878d\u5e02\u5834<\/strong><\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u306b\u3053\u308c\u307e\u3067\u682a\u4fa1\u3092\u652f\u3048\u3066\u304d\u305f\u4f4e\u91d1\u5229\u653f\u7b56\u3092\u64a4\u56de\u3057\u3001\u5229\u4e0a\u3052\u3092\u958b\u59cb\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u3063\u3066\u4ee5\u6765\u3001\u7c73\u56fd\u682a\u306f\u4e0b\u843d\u3057\u3066\u304a\u308a\u3001\u4eca\u5f8c\u3053\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u304c\u3069\u3046\u306a\u308b\u306e\u304b\u304c\u6ce8\u76ee\u3055\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u91d1\u5229\u5148\u7269\u5e02\u5834\u306f\u4eca\u5f8c\u306e\u5229\u4e0a\u3052\u52d5\u5411\u306b\u3064\u3044\u3066\u3084\u3084\u5947\u5999\u306a\u7e54\u308a\u8fbc\u307f\u65b9\u3092\u3057\u3066\u3044\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\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>\u5947\u5999\u306a\u3053\u3068\u306b\u3001\u5e02\u5834\u306e\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u306fFed\u304c\u4eca\u304b\u30891.25%\u304b1.5%\u5229\u4e0a\u3052\u3057\u305f\u5f8c\u30016\u30f6\u6708\u304b7\u30f6\u6708\u5f8c\u306b\u306f\u4f55\u6545\u304b\u7de9\u548c\u306b\u8ee2\u63db\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3082\u306e\u3060\u3002<\/p><cite>\u91d1\u5229\u5148\u7269\u5e02\u5834\u306b\u3088\u308b\u3068\u3001\u653f\u7b56\u91d1\u5229\u306f\u6765\u5e743\u6708\u306b\u30d4\u30fc\u30af\u306b\u306a\u308a\u3001\u305d\u3053\u304b\u3089\u4e0b\u304c\u308a\u59cb\u3081\u308b\u3053\u3068\u304c\u4e88\u60f3\u3055\u308c\u3066\u3044\u308b\u3002<\/cite><\/blockquote>\n\n\n\n<p>\u305d\u308c\u306f\u4f55\u6545\u3060\u308d\u3046\uff1f\u3000\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3053\u306e\u7e54\u308a\u8fbc\u307f\u3092\u6b21\u306e\u3088\u3046\u306b\u76ae\u8089\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>\u3053\u308c\u306f\u8eab\u9577185cm\u3067\u4f53\u91cd80kg\u306e\u5065\u5eb7\u306a\u7537\u6027\u304c\u300c\u30af\u30ea\u30b9\u30de\u30b9\u4f11\u6687\u306b40kg\u592a\u308b\u3051\u3069\u3001\u904e\u6fc0\u306a\u30c0\u30a4\u30a8\u30c3\u30c8\u3067\u30a4\u30fc\u30b9\u30bf\u30fc\u307e\u3067\u306b\u306f\u540c\u3058\u3060\u3051\u75e9\u305b\u308b\u300d\u3068\u8a00\u3046\u3088\u3046\u306a\u3082\u306e\u3060\u3002\u4f55\u6545\u3060\uff1f\u3000\u3053\u308c\u306f\u5065\u5eb7\u7684\u3067\u306f\u306a\u3044\u3002\u975e\u5e38\u306b\u4e0d\u5065\u5eb7\u3060\u3002<\/p><\/blockquote>\n\n\n\n<p>\u5e02\u5834\u306f\u4f55\u6545Fed\u306e\u5229\u4e0b\u3052\u3092\u7e54\u308a\u8fbc\u3093\u3067\u3044\u308b\u306e\u304b\u3002\u4e0a\u3052\u3066\u304b\u3089\u4e0b\u3052\u308b\u306a\u3089\u3070\u3001\u305d\u3082\u305d\u3082\u4e0a\u3052\u306a\u3051\u308c\u3070\u826f\u3044\u306e\u3067\u306f\u306a\u3044\u304b\u3002<\/p>\n\n\n\n<p>1\u3064\u306e\u53ef\u80fd\u6027\u306f\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306b\u3088\u308b\u682a\u4fa1\u306e\u4e0b\u843d\u3084\u7d4c\u6e08\u306e\u843d\u3061\u8fbc\u307f\u304c\u6765\u5e743\u6708\u306b\u306f\u8010\u3048\u3089\u308c\u306a\u3044\u6c34\u6e96\u306b\u9054\u3057\u3001Fed\u304c\u5229\u4e0b\u3052\u306b\u8ee2\u63db\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308b\u30b7\u30ca\u30ea\u30aa\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><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><\/ul>\n\n\n\n<p>\u305d\u3046\u3067\u306a\u3044\u306e\u3067\u3042\u308c\u3070\u3001Fed\u304c\u5229\u4e0b\u3052\u3092\u3059\u308b\u7406\u7531\u306f1\u3064\u3067\u3042\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u76ee\u6a19\u304c\u9054\u6210\u3055\u308c\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\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>\u3057\u304b\u3057\u305d\u308c\u306f1\u5e74\u4ee5\u5185\u304b\u6765\u5e74\u672b\u307e\u3067\u306b\u30a4\u30f3\u30d5\u30ec\u7387\u304c9%\u304b\u3089Fed\u306e\u76ee\u6a19\u3067\u3042\u308b2%\u306b\u4e0b\u304c\u308b\u3068\u8a00\u3063\u3066\u3044\u308b\u3088\u3046\u306a\u3082\u306e\u3060\u3002\u305d\u308c\u306f\u5e0c\u671b\u7684\u89b3\u6e2c\u3060\u3002<\/p><p>\u3060\u304c\u672c\u5f53\u306b\u305d\u308c\u304c\u53ef\u80fd\u306a\u3089\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u305d\u308c\u307b\u3069\u65e9\u304f\u6025\u6fc0\u306b\u4e0b\u304c\u308b\u306a\u3089\u3070\u3001\u4f55\u6545\u305d\u308c\u304c2%\u3067\u4e01\u5ea6\u6b62\u307e\u308b\u3068\u8a00\u3048\u308b\u306e\u304b\uff1f\u3000\u4f55\u6545\u30de\u30a4\u30ca\u30b9\u307e\u3067\u884c\u304b\u306a\u3044\u3068\u8a00\u3048\u308b\u306e\u304b\uff1f\u3000\u305d\u308c\u307b\u3069\u306e\u52e2\u3044\u306e\u3042\u308b\u7d4c\u6e08\u6e1b\u901f\u304c\u30c7\u30d5\u30ec\u65b9\u5411\u306b\u4f55\u6545\u884c\u304d\u904e\u304e\u308b\u3053\u3068\u304c\u306a\u3044\u306e\u304b\uff1f<\/p><\/blockquote>\n\n\n\n<p><strong>\u5e38\u306b\u884c\u304d\u904e\u304e\u308b\u4e2d\u592e\u9280\u884c<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u8a00\u3044\u305f\u3044\u3053\u3068\u306f\u3001\u5358\u306b\u73fe\u5728\u306e\u91d1\u878d\u653f\u7b56\u304c\u884c\u304d\u904e\u304e\u308b\u304b\u3069\u3046\u304b\u3068\u3044\u3046\u3053\u3068\u3067\u306f\u306a\u3044\u3002\u3080\u3057\u308d\u5f7c\u304c\u8a00\u3044\u305f\u3044\u306e\u306f\u3001\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u306f\u5e38\u306b\u884c\u304d\u904e\u304e\u3066\u304d\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4f8b\u3048\u30702018\u5e74\u306b\u306f\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u7b46\u8005\u3092\u542b\u3080\u6295\u8cc7\u5bb6\u306e\u61f8\u5ff5\u3092\u7121\u8996\u3057\u3066\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u5f37\u884c\u3057\u3001\u682a\u4fa1\u304c\u6025\u843d\u3057\u305f\u5f8c\u3082\u305d\u308c\u306f\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306e\u305b\u3044\u3067\u306f\u306a\u3044\u3068\u8a00\u3044\u5f35\u3063\u305f\u304c\u3001\u7d50\u5c40\u306f\u682a\u4fa1\u4e0b\u843d\u304c\u81ea\u5206\u306e\u305b\u3044\u3060\u3068\u8a8d\u3081\u3056\u308b\u3092\u5f97\u306a\u304f\u306a\u3063\u305f\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><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/8106\" data-type=\"post\" data-id=\"8106\">12\u6708FOMC\u4f1a\u5408\u7d50\u679c\u306f\u7a7a\u58f2\u308a\u6d3e\u3078\u306e\u6e80\u984d\u56de\u7b54 (2018\/12\/20)<\/a><\/li><\/ul>\n\n\n\n<p>\u305d\u308c\u304c\u7de9\u548c\u3067\u3042\u308c\u5f15\u304d\u7de0\u3081\u3067\u3042\u308c\u3001\u5f7c\u3089\u306f\u884c\u304d\u904e\u304e\u306a\u3051\u308c\u3070\u6b62\u307e\u3089\u306a\u3044\u3002\u3053\u306e\u73fe\u8c61\u3092\u30b9\u30b3\u30c3\u30c8\u30fb\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u8a00\u3044\u8868\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/5762\" data-type=\"post\" data-id=\"5762\">\u30ac\u30f3\u30c8\u30e9\u30c3\u30af\u6c0f: \u7c73\u56fd\u5229\u4e0a\u3052\u306f\u4f55\u304b\u304c\u58ca\u308c\u308b\u307e\u3067\u6b62\u307e\u3089\u306a\u3044<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u884c\u304d\u904e\u304e\u305f\u73fe\u91d1\u7d66\u4ed8<\/strong><\/p>\n\n\n\n<p>\u6642\u9593\u306e\u91dd\u3092\u30b3\u30ed\u30ca\u5f8c\u306b\u623b\u305d\u3046\u3002\u76f4\u8fd1\u306e\u653f\u7b56\u3067\u653f\u5e9c\u304c\u300c\u3084\u308a\u904e\u304e\u305f\u300d\u306e\u306f\u3001\u30b3\u30ed\u30ca\u5f8c\u306e\u73fe\u91d1\u7d66\u4ed8\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u3067\u306f3\u56de\u306b\u5206\u3051\u30661\u4eba\u5f53\u305f\u308a\u5408\u8a0840\u4e07\u5186\u4ee5\u4e0a\u306e\u73fe\u91d1\u7d66\u4ed8\u304c\u884c\u308f\u308c\u3001\u305d\u306e\u8cc7\u91d1\u306f\u539f\u6cb9\u3084\u8fb2\u4f5c\u7269\u306a\u3069\u306e\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5e02\u5834\u306b\u6d41\u308c\u8fbc\u307f\u3001\u4e16\u754c\u7684\u306a\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/25100\" data-type=\"post\" data-id=\"25100\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u30a4\u30f3\u30d5\u30ec\u306f\u653f\u5e9c\u306e\u30b3\u30ed\u30ca\u5bfe\u7b56\u304c\u5f15\u304d\u8d77\u3053\u3057\u305f<\/a><\/li><\/ul>\n\n\n\n<p>\u3060\u304c\u305d\u306e\u52b9\u679c\u306f\u6642\u9593\u5dee\u3067\u3084\u3063\u3066\u304d\u305f\u3002\u91d1\u878d\u5e02\u5834\u3067\u306f\u4fa1\u683c\u9ad8\u9a30\u306f2020\u5e74\u306b\u306f\u59cb\u307e\u3063\u3066\u3044\u305f\u3002\u3053\u3053\u3067\u30a4\u30f3\u30d5\u30ec\u3092\u53d6\u308a\u4e0a\u3052\u305f\u6700\u521d\u306e\u8a18\u4e8b\u304c2\u5e74\u524d\u3060\u3068\u3044\u3046\u3053\u3068\u3092\u8aad\u8005\u306f\u4fe1\u3058\u3089\u308c\u308b\u3060\u308d\u3046\u304b\uff1f<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11801\" data-type=\"post\" data-id=\"11801\">\u91d1\u878d\u5e02\u5834\u306b\u30a4\u30f3\u30d5\u30ec\u306e\u5146\u3057: \u91d1\u3001\u539f\u6cb9\u3001\u7a40\u7269\u4fa1\u683c\u304c\u9ad8\u9a30 (2020\/10\/14)<\/a><\/li><\/ul>\n\n\n\n<p>\u307e\u305a\u91d1\u878d\u5e02\u5834\u3067\u539f\u6cb9\u3084\u5929\u7136\u30ac\u30b9\u3001\u5927\u8c46\u3084\u5c0f\u9ea6\u306a\u3069\u306e\u4fa1\u683c\u304c\u4e0a\u304c\u308b\u3002\u305d\u308c\u304c\u4f01\u696d\u306e\u4ed5\u5165\u308c\u4fa1\u683c\u3067\u3042\u308b\u5378\u58f2\u4fa1\u683c\u306b\u8ee2\u5ac1\u3055\u308c\u308b\u3002\u305d\u3057\u3066\u6700\u5f8c\u306b\u5e97\u3067\u58f2\u3089\u308c\u308b\u5546\u54c1\u306e\u4fa1\u683c\u3067\u3042\u308b\u6d88\u8cbb\u8005\u7269\u4fa1\u306b\u8ee2\u5ac1\u3055\u308c\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u304c\u9806\u5e8f\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u305d\u306e\u8ee2\u5ac1\u304c\u8d77\u304d\u305f\u306e\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u4e2d\u5fc3\u5730\u3067\u3042\u308b\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u53bb\u5e74\u3001\u91d1\u878d\u5e02\u5834\u3092\u901a\u3057\u3066\u5f71\u97ff\u3092\u53d7\u3051\u305f\u65e5\u672c\u3067\u306f\u4eca\u5e74\u3060\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u4e01\u5ea6\u826f\u304f\u30a6\u30af\u30e9\u30a4\u30ca\u5371\u6a5f\u304c\u8d77\u304d\u3066\u304f\u308c\u305f\u306e\u3067\u653f\u6cbb\u5bb6\u305f\u3061\u306f\u4e00\u6589\u306b\u30a4\u30f3\u30d5\u30ec\u306f\u30ed\u30b7\u30a2\u306e\u305b\u3044\u3060\u3068\u8a00\u3044\u59cb\u3081\u305f\u3002\u99ac\u9e7f\u3057\u304b\u4fe1\u3058\u306a\u3044\u5984\u8a00\u3060\u304c\u3001\u554f\u984c\u306f\u4e16\u306e\u4e2d\u306b\u306f\u307b\u307c\u99ac\u9e7f\u3057\u304b\u3044\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/20445\" data-type=\"post\" data-id=\"20445\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u30a6\u30af\u30e9\u30a4\u30ca\u554f\u984c\u3067 \u300c\u30a4\u30f3\u30d5\u30ec\u306f\u4e00\u6642\u7684\u300d\u304c\u300c\u30a4\u30f3\u30d5\u30ec\u306f\u539f\u6cb9\u306e\u305b\u3044\u300d\u306b\u9032\u5316\u3059\u308b\u53ef\u80fd\u6027<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u30c7\u30d5\u30ec\u3082\u6642\u9593\u5dee\u3067\u6765\u308b<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u30a4\u30f3\u30d5\u30ec\u306f\u305d\u3082\u305d\u3082\u7b46\u8005\u3092\u542b\u3080\u6295\u8cc7\u5bb6\u304c2\u5e74\u524d\u304b\u3089\u8b66\u544a\u3057\u3066\u3044\u305f\u3053\u3068\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u591a\u304f\u306e\u4eba\u3005\u306f\u305d\u308c\u304c\u624b\u9045\u308c\u306b\u306a\u3063\u3066\u304b\u3089\u3057\u304b\u6c17\u3065\u304b\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u305d\u308c\u306f\u7de9\u548c\u3060\u3051\u306b\u5f53\u3066\u306f\u307e\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\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>\u7269\u4fa1\u9ad8\u9a30\u304c\u6642\u9593\u5dee\u3067\u6765\u305f\u3088\u3046\u306b\u3001\u30c7\u30d5\u30ec\u3082\u6050\u3089\u304f\u6642\u9593\u5dee\u3067\u6765\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p><p>\u3053\u3046\u3057\u305f\u30b7\u30e7\u30c3\u30af\u7642\u6cd5\u306f\u6642\u9593\u5dee\u3067\u6a5f\u80fd\u3059\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u5f15\u304d\u7de0\u3081\u304c\u7d42\u308f\u308b\u306e\u306f\u4e2d\u592e\u9280\u884c\u304c\u624b\u9045\u308c\u306b\u6c17\u4ed8\u304f\u77ac\u9593\u3067\u3042\u308a\u3001\u4e0d\u5e78\u306a\u3053\u3068\u306b\u305d\u308c\u4ee5\u5916\u306b\u5f15\u304d\u7de0\u3081\u304c\u7d42\u308f\u308b\u30b7\u30ca\u30ea\u30aa\u306f\u5b58\u5728\u3057\u306a\u3044\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u8a00\u3044\u305f\u3044\u306e\u306f\u305d\u3046\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u5f7c\u306f\u6b21\u306e\u3088\u3046\u306b\u8a9e\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u30b3\u30ed\u30ca\u5f8c\u3001\u308f\u308c\u308f\u308c\u306f\u5927\u898f\u6a21\u3067\u904e\u6fc0\u306a\u7d4c\u6e08\u653f\u7b56\u3092\u884c\u306a\u3063\u305f\u3002\u305d\u306e\u69cb\u60f3\u306f\u3001\u30b3\u30b9\u30c8\u306e\u306a\u3044\u8cc7\u91d1\u4f9b\u7d66\u3068\u30b3\u30b9\u30c8\u306e\u306a\u3044\u7d4c\u6e08\u6210\u9577\u304c\u4f55\u306e\u526f\u4f5c\u7528\u3082\u306a\u304f\u5b9f\u73fe\u3067\u304d\u308b\u3068\u3044\u3046\u3082\u306e\u3060\u3063\u305f\u3002<\/p><p>\u3060\u304c\u52ff\u8ad6\u526f\u4f5c\u7528\u306f\u3042\u3063\u305f\u3002\u305d\u3057\u3066\u4eca\u5ea6\u306f\u4eba\u3005\u306f\u3001\u653f\u7b56\u91d1\u5229\u30923.5%\u304b4%\u306b\u4e0a\u3052\u308b\u3060\u3051\u3067\u5bfe\u75c7\u7642\u6cd5\u304c\u3067\u304d\u308b\u3068\u8003\u3048\u3066\u3044\u308b\u3002\u3057\u304b\u3057\u305d\u308c\u304c\u30a4\u30f3\u30d5\u30ec\u7387\u30927%\u4e0b\u3052\u308b\u3068\u8003\u3048\u3089\u308c\u308b\u306a\u3089\u3070\u3001\u4f55\u6545\u4e0b\u843d\u5e45\u304c15%\u306b\u306a\u3089\u306a\u3044\u3068\u8a00\u3048\u308b\u306e\u304b\uff1f<\/p><\/blockquote>\n\n\n\n<p>\u4eba\u3005\u306f\u7d19\u5e63\u3092\u5237\u308a\u305f\u3044\u3060\u3051\u5237\u3063\u3066\u3070\u3089\u6492\u3044\u3066\u3082\u4f55\u306e\u554f\u984c\u3082\u8d77\u3053\u3089\u306a\u3044\u3068\u601d\u3063\u305f\u3002\u305d\u3057\u3066\u4eca\u3067\u306f\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u884c\u306a\u3063\u3066\u3082\u5bfe\u3057\u3066\u682a\u4fa1\u3082\u4e0b\u304c\u3089\u305a\u4e0d\u6cc1\u3082\u8d77\u304d\u306a\u3044\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u4eba\u3005\u306e\u8003\u3048\u308b\u3053\u3068\u306f\u5e38\u306b\u9593\u9055\u3063\u3066\u3044\u308b\u3002\u3044\u307e\u3060\u306b\u5f7c\u3089\u306f\u30a4\u30f3\u30d5\u30ec\u306f\u30ed\u30b7\u30a2\u306e\u305b\u3044\u3060\u3068\u8003\u3048\u3066\u304a\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u5bfe\u7b56\u306b\u304a\u91d1\u3092\u3070\u3089\u6492\u3053\u3046\u3068\u3057\u3066\u3044\u308b\u306e\u3060\u304b\u3089\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306b\u3064\u3044\u3066\u3082\u4e8b\u6545\u3092\u3084\u3089\u304b\u3059\u3068\u8003\u3048\u308b\u306e\u304c\u81ea\u7136\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/26936\" data-type=\"post\" data-id=\"26936\">\u30dd\u30b8\u30e3\u30fc\u30eb\u6c0f: \u653f\u7b56\u91d1\u5229\u306f5%\u4ee5\u4e0a\u306b\u4e0a\u304c\u3063\u3066\u666f\u6c17\u5f8c\u9000\u3067\u306f\u306a\u304f\u6050\u614c\u3092\u5f15\u304d\u8d77\u3053\u3059<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/25829\" data-type=\"post\" data-id=\"25829\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u7c73\u56fd\u682a\u306f30\u5e74\u4e0a\u304c\u3089\u306a\u3044\u53ef\u80fd\u6027<\/a><\/li><\/ul>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u7e8f\u3081\u308b\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\u3053\u3046\u3057\u305f\u30b7\u30e7\u30c3\u30af\u7642\u6cd5\u3092\u6642\u9593\u5dee\u3067\u52b9\u679c\u304c\u73fe\u308c\u308b\u307e\u3067\u3084\u308a\u7d9a\u3051\u3001\u52b9\u679c\u304c\u73fe\u308c\u308b\u9803\u306b\u306f\u3084\u308a\u904e\u304e\u3066\u3044\u308b\u3068\u3044\u3046\u308f\u3051\u3060\u3002<\/p><p>\u308f\u308c\u308f\u308c\u306e\u904e\u5270\u306a\u7de9\u548c\u653f\u7b56\u304c\u5f15\u304d\u8d77\u3053\u3057\u305f\u30a4\u30f3\u30d5\u30ec\u306e\u554f\u984c\u306b\u5bfe\u3057\u3001\u308f\u308c\u308f\u308c\u306f\u904e\u5270\u306b\u53cd\u5fdc\u3059\u308b\u3068\u3044\u3046\u306e\u304c\u6b21\u306e\u30b7\u30e7\u30c3\u30af\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cThe Market NZZ\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u4eca\u5f8c\u306e\u5229\u4e0a\u3052\u306b\u3064\u3044\u3066\u306e\u50b5\u5238\u5e02\u5834\u306e\u5947\u5999\u306a\u7e54\u308a\u8fbc\u307f\u65b9\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/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":[131],"class_list":["post-28012","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets","tag-jeffrey-gundlach"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/28012","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=28012"}],"version-history":[{"count":61,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/28012\/revisions"}],"predecessor-version":[{"id":28073,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/28012\/revisions\/28073"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=28012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=28012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=28012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}