{"id":28114,"date":"2022-09-10T20:04:00","date_gmt":"2022-09-10T11:04:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=28114"},"modified":"2022-09-10T14:50:15","modified_gmt":"2022-09-10T05:50:15","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e6%a0%aa%e5%bc%8f%e3%82%82%e5%82%b5%e5%88%b8%e3%82%82%e4%b8%8b%e8%90%bd%e3%81%99%e3%82%8b%e7%9b%b8%e5%a0%b4%e3%81%a7%e4%bd%95%e3%81%ab","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/28114","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u682a\u5f0f\u3082\u50b5\u5238\u3082\u4e0b\u843d\u3059\u308b\u76f8\u5834\u3067\u4f55\u306b\u6295\u8cc7\u3059\u3079\u304d\u304b"},"content":{"rendered":"\n<p>\u7269\u4fa1\u9ad8\u9a30\u3092\u6291\u5236\u3059\u308b\u305f\u3081\u306b\u30a2\u30e1\u30ea\u30ab\u306eFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u304c\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u958b\u59cb\u3057\u3066\u4ee5\u6765\u3001\u91d1\u878d\u5e02\u5834\u3067\u306f\u3042\u3089\u3086\u308b\u3082\u306e\u304c\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002\u5229\u4e0a\u3052\u3067\u682a\u5f0f\u3082\u50b5\u5238\u3082\u4e21\u65b9\u4e0b\u843d\u3059\u308b\u306e\u3067\u3001\u5206\u6563\u3068\u601d\u3063\u3066\u4e21\u65b9\u8cb7\u3063\u305f\u6295\u8cc7\u5bb6\u306f\u9177\u3044\u76ee\u306b\u906d\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27956\" data-type=\"post\" data-id=\"27956\">\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f: \u5206\u6563\u6295\u8cc7\u3092\u3057\u3066\u306f\u3044\u3051\u306a\u3044<\/a><\/li><\/ul>\n\n\n\n<p>\u3053\u3046\u3044\u3046\u76f8\u5834\u3067\u306f\u4f55\u306b\u6295\u8cc7\u3092\u3059\u308c\u3070\u826f\u3044\u306e\u304b\u3002DoubleLine 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\u8aac\u660e\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u682a\u5f0f\u3068\u50b5\u5238\u306e\u540c\u6642\u4e0b\u843d<\/strong><\/p>\n\n\n\n<p>\u305d\u3082\u305d\u3082\u4f55\u6545\u682a\u5f0f\u3068\u50b5\u5238\u304c\u4e21\u65b9\u4e0b\u843d\u3057\u3066\u3044\u308b\u306e\u304b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8aac\u660e\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>\u554f\u984c\u306f\u3001\u91d1\u878d\u5e02\u5834\u5168\u4f53\u304c\u30bc\u30ed\u91d1\u5229\u3068\u91cf\u7684\u7de9\u548c\u3092\u524d\u63d0\u306b\u5024\u4ed8\u3051\u3055\u308c\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3060\u3002\u305d\u3057\u3066Fed\u306f\u305d\u308c\u304c\u7121\u304f\u306a\u308b\u3068\u8a00\u3063\u305f\u3002\u4eca\u3067\u3082\u305d\u308c\u3092\u5805\u6301\u3057\u7d9a\u3051\u308b\u610f\u56f3\u304c\u3042\u308b\u3088\u3046\u306a\u53e3\u3076\u308a\u3067\u3044\u308b\u3002<\/p><p>\u7d50\u679c\u3068\u3057\u3066\u3001\u8cc7\u7523\u4fa1\u683c\u306f\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u7c73\u56fd\u682a\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u4ee5\u4e0b\u306b\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\/09\/2022-9-10-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\/09\/2022-9-10-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-28117\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/09\/2022-9-10-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/09\/2022-9-10-s-and-p-500-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u305d\u3057\u3066\u91d1\u5229\u4e0a\u6607\u306f\u50b5\u5238\u4fa1\u683c\u306e\u4e0b\u843d\u3092\u610f\u5473\u3059\u308b\u306e\u3067\u3001\u50b5\u5238\u3082\u540c\u69d8\u306b\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u3067\u306f\u4f55\u306b\u6295\u8cc7\u3059\u3079\u304d\u304b<\/strong><\/p>\n\n\n\n<p>\u3053\u3046\u3044\u3046\u72b6\u6cc1\u3067\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u304c\u3084\u308b\u53d6\u5f15\u306f\u5f53\u7136\u306a\u304c\u3089\u7a7a\u58f2\u308a\u3067\u3042\u308b\u3002\u5b9f\u969b\u3001\u7b46\u8005\u3082\u7b46\u8005\u306e\u4e00\u76ee\u7f6e\u304f\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3089\u3082\u4eca\u5e74\u306f\u7a7a\u58f2\u308a\u3067\u5132\u3051\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><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><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/26110\" data-type=\"post\" data-id=\"26110\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u30a4\u30f3\u30d5\u30ec\u66b4\u843d\u76f8\u5834\u3067\u534a\u5e74\u306732%\u306e\u7206\u76ca<\/a><\/li><\/ul>\n\n\n\n<p>\u3060\u304c\u3001\u7406\u7531\u306f\u4e0d\u660e\u3060\u304c\u500b\u4eba\u6295\u8cc7\u5bb6\u306e\u591a\u304f\u306f\u7a7a\u58f2\u308a\u3092\u3057\u305f\u304c\u3089\u306a\u3044\u3002\u6050\u3089\u304f\u7406\u7531\u306f\u3001\u5f7c\u3089\u306f\u8ab0\u304b\u306b\u5968\u3081\u3089\u308c\u305f\u53d6\u5f15\u3001\u8ab0\u3082\u304c\u3084\u3063\u3066\u3044\u308b\u53d6\u5f15\u3057\u304b\u51fa\u6765\u306a\u3044\u304b\u3089\u3060\u308d\u3046\u304c\u3001\u3059\u3079\u3066\u304c\u4e0b\u304c\u308b\u76f8\u5834\u3067\u8cb7\u3044\u9650\u5b9a\u306eNISA\u3092\u3084\u3089\u3055\u308c\u3066\u3044\u308b\u6642\u70b9\u3067\u8a70\u3093\u3067\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u306b\u307e\u305a\u6c17\u4ed8\u3044\u305f\u65b9\u304c\u826f\u3044\u3002NISA\u306f\u500b\u4eba\u6295\u8cc7\u5bb6\u306b\u682a\u3092\u8cb7\u308f\u305b\u3066\u653f\u6a29\u306e\u652f\u6301\u7387\u3068\u8a3c\u5238\u4f1a\u793e\u306e\u624b\u6570\u6599\u58f2\u4e0a\u3092\u4e0a\u3052\u308b\u305f\u3081\u306e\u624b\u6bb5\u306b\u3059\u304e\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27593\" data-type=\"post\" data-id=\"27593\">\u682a\u5f0f\u6295\u8cc7\u30d6\u30fc\u30e0\u306b\u4e57\u3063\u305f\u6642\u70b9\u3067\u500b\u4eba\u6295\u8cc7\u5bb6\u306e\u640d\u5931\u306f\u307b\u307c\u78ba\u5b9a\u3057\u3066\u3044\u308b<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27807\" data-type=\"post\" data-id=\"27807\">\u300c\u682a\u5f0f\u306e\u9577\u671f\u6295\u8cc7\u306f\u307b\u307c\u5132\u304b\u308b\u300d\u3068\u3044\u3046\u5e7b\u60f3\u306f\u91d1\u878d\u5e81\u306e\u300c\u57fa\u790e\u304b\u3089\u5b66\u3079\u308b\u91d1\u878d\u30ac\u30a4\u30c9\u300d\u304b\u3089\u6765\u305f<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u4f55\u3092\u8cb7\u3048\u3070\u826f\u3044\u304b<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u7b46\u8005\u3068\u9055\u3063\u3066\u89aa\u5207\u306a\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u500b\u4eba\u6295\u8cc7\u5bb6\u5411\u3051\u306b\u8cb7\u3044\u9650\u5b9a\u3067\u6295\u8cc7\u6226\u7565\u3092\u8003\u3048\u3066\u304f\u308c\u3066\u3044\u308b\u3002\u5f7c\u306f\u4f8b\u3048\u3070\u6b21\u306e\u3088\u3046\u306a\u3082\u306e\u3092\u63a8\u5968\u3059\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u3082\u3057\u4f55\u304b\u672c\u8cea\u7684\u306a\u3082\u306e\u306b\u6295\u8cc7\u3057\u305f\u3044\u3068\u601d\u3046\u306a\u3089\u3001\u4f8b\u3048\u3070\u30a8\u30cd\u30eb\u30ae\u30fc\u4f01\u696d\u306e\u3088\u3046\u306a\u3082\u306e\u306b\u6295\u8cc7\u3059\u3079\u304d\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/p><\/blockquote>\n\n\n\n<p>\u8131\u70ad\u7d20\u653f\u7b56\u306b\u3088\u3063\u3066\u3001\u76ae\u8089\u306b\u3082\u539f\u6cb9\u306e\u4fa1\u5024\u306f\u5927\u5e45\u306b\u4e0a\u304c\u3063\u305f\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\/26963\" data-type=\"post\" data-id=\"26963\">\u30b9\u30da\u30a4\u30f3\u3001\u8131\u70ad\u7d20\u306b\u3088\u308b\u96fb\u529b\u4e0d\u8db3\u3067\u51b7\u623f\u309227\u5ea6\u672a\u6e80\u306b\u3059\u308b\u3053\u3068\u3092\u7981\u6b62<\/a><\/li><\/ul>\n\n\n\n<p>\u8131\u70ad\u7d20\u3092\u9032\u3081\u3066\u304d\u305f\u30d0\u30a4\u30c7\u30f3\u5927\u7d71\u9818\u306f\u3044\u307e\u3084\u4e2d\u6771\u306b\u539f\u6cb9\u7523\u51fa\u91cf\u3092\u5897\u3084\u3059\u3088\u3046\u306b\u304a\u9858\u3044\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u7b46\u8005\u306f\u3053\u306e\u72b6\u6cc1\u3067\u30a8\u30cd\u30eb\u30ae\u30fc\u306b\u6295\u8cc7\u3059\u308b\u3053\u3068\u306b\u3082\u61d0\u7591\u7684\u3067\u3042\u308b\u30026\u6708\u672b\u306e\u8a18\u4e8b\u306b\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u66f8\u3044\u3066\u304a\u3044\u305f\u3053\u3068\u3092\u601d\u3044\u51fa\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/25912\" data-type=\"post\" data-id=\"25912\">\u4e0b\u843d\u76f8\u5834\u3067\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306f\u3069\u3046\u52d5\u304f\u304b\uff1f\u30002018\u5e74\u4e16\u754c\u540c\u6642\u682a\u5b89\u306e\u4e8b\u4f8b (2022\/6\/29)<\/a><\/li><\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u91d1\u878d\u5f15\u304d\u7de0\u3081\u304c\u5f37\u529b\u3059\u304e\u3066\u30a4\u30f3\u30d5\u30ec\u304b\u3089\u4e00\u6c17\u306b\u30c7\u30d5\u30ec\u306b\u79fb\u884c\u3059\u308b\u5834\u5408\u3001\u539f\u6cb9\u306f\u3082\u3068\u3082\u3068\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u304c\u9ad8\u3044\u305f\u3081\u3001\u539f\u6cb9\u4fa1\u683c\u306e\u4e0b\u3052\u5e45\u306f\u682a\u5f0f\u5e02\u5834\u306e\u4e0b\u3052\u5e45\u3092\u4e0a\u56de\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u305d\u3057\u3066\u539f\u6cb9\u4fa1\u683c\u304c\u3069\u306e\u3088\u3046\u306b\u63a8\u79fb\u3057\u305f\u304b\u3068\u8a00\u3048\u3070\u3001\u307e\u3055\u306b6\u6708\u304b\u3089\u4e0b\u843d\u30c8\u30ec\u30f3\u30c9\u306b\u5165\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\/09\/2022-9-10-wti-crude-oil-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"406\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/09\/2022-9-10-wti-crude-oil-chart.png\" alt=\"\" class=\"wp-image-28130\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/09\/2022-9-10-wti-crude-oil-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/09\/2022-9-10-wti-crude-oil-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u7b46\u8005\u306e\u4e88\u60f3\u304c\u5f53\u305f\u308b\u306e\u306f\u3044\u3064\u3082\u306e\u3053\u3068\u306a\u306e\u3060\u304c\u3001\u3084\u306f\u308a\u539f\u6cb9\u306a\u3069\u306e\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u9298\u67c4\u3082\u7de9\u548c\u3067\u4e0a\u304c\u3063\u3066\u304d\u305f\u306e\u3060\u304b\u3089\u3001\u5f15\u304d\u7de0\u3081\u3067\u4e0b\u843d\u3059\u308b\u3068\u8003\u3048\u308b\u306e\u304c\u59a5\u5f53\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u305f\u3060\u30011970\u5e74\u4ee3\u306e\u3088\u3046\u306b\u30a4\u30f3\u30d5\u30ec\u304c\u7b2c2\u6ce2\u3001\u7b2c3\u6ce2\u3068\u306a\u3063\u3066\u8972\u3063\u3066\u304f\u308b\u3068\u8003\u3048\u308b\u306e\u3067\u3042\u308c\u3070\u3001\u9577\u671f\u7684\u306b\u306f\u30a8\u30cd\u30eb\u30ae\u30fc\u4f01\u696d\u306f\u8cb7\u3044\u3060\u308d\u3046\u3057\u3001\u5c11\u306a\u304f\u3068\u3082\u666e\u901a\u306e\u682a\u5f0f\u3088\u308a\u306f\u826f\u3044\u6295\u8cc7\u306b\u306a\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u3060\u304c\u7b46\u8005\u3068\u3057\u3066\u306f\u3084\u306f\u308a\u5f15\u304d\u7de0\u3081\u3067\u4e00\u5ea6\u4e0b\u843d\u3057\u305f\u5f8c\u306e\u30a8\u30cd\u30eb\u30ae\u30fc\u95a2\u9023\u9298\u67c4\u3092\u8cb7\u3044\u305f\u3044\u3068\u3053\u308d\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24285\" data-type=\"post\" data-id=\"24285\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u73fe\u5728\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u7269\u4fa1\u9ad8\u9a30\u306f\u30a4\u30f3\u30d5\u30ec\u7b2c1\u6ce2\u306b\u904e\u304e\u306a\u3044<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u4ed6\u306b\u8cb7\u3048\u308b\u3082\u306e<\/strong><\/p>\n\n\n\n<p>\u3067\u306f\u4ed6\u306b\u8cb7\u3048\u308b\u3082\u306e\u306f\u3042\u308b\u304b\uff1f\u3000\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u7d9a\u3051\u3066\u6b21\u306e\u3088\u3046\u306b\u8a00\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>\u5fc5\u9700\u54c1\u3092\u751f\u307f\u51fa\u3059\u53e4\u98a8\u306a\u30bf\u30a4\u30d7\u306e\u8cc7\u7523\u306b\u6295\u8cc7\u3092\u3059\u308b\u306e\u304c\u826f\u3044\u3060\u308d\u3046\u3002\u8fb2\u5730\u3001\u98df\u6599\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u3001\u539f\u6cb9\u3060\u3002\u3053\u308c\u3089\u306e\u8cc7\u7523\u306f\u3042\u306a\u305f\u3092\u30a4\u30f3\u30d5\u30ec\u304b\u3089\u5b88\u3063\u3066\u304f\u308c\u308b\u3002\u666f\u6c17\u5f8c\u9000\u304b\u3089\u306e\u5b88\u308a\u306b\u3082\u306a\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u8fb2\u5730\u3068\u8a00\u3048\u3070\u3001Microsoft\u5275\u696d\u8005\u306e\u30d3\u30eb\u30fb\u30b2\u30a4\u30c4\u6c0f\u304c2021\u5e74\u306b\u8fb2\u5730\u3092\u8cb7\u3044\u6f01\u308a\u3001\u30a2\u30e1\u30ea\u30ab\u6700\u5927\u306e\u8fb2\u5730\u6240\u6709\u8005\u3068\u306a\u3063\u3066\u30cb\u30e5\u30fc\u30b9\u306b\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u6050\u3089\u304f\u306f\u53bb\u5e74\u306e\u5185\u304b\u3089\u73fe\u91d1\u7d66\u4ed8\u3067\u7269\u4fa1\u9ad8\u9a30\u304c\u5f15\u304d\u8d77\u3053\u3055\u308c\u308b\u3053\u3068\u3092\u4e88\u6e2c\u3057\u3066\u5099\u3048\u3066\u3044\u305f\u306e\u3060\u308d\u3046\u3002\u5f7c\u81ea\u8eab\u306f\u6295\u8cc7\u5bb6\u3067\u306f\u306a\u3044\u304b\u3089\u3001\u512a\u308c\u305f\u30a2\u30c9\u30d0\u30a4\u30b6\u30fc\u304c\u4ed8\u3044\u3066\u3044\u308b\u3068\u601d\u308f\u308c\u308b\u3002\u8ab0\u3060\u308d\u3046\u3002\u77e5\u3063\u3066\u3044\u308b\u4eba\u304c\u3044\u308c\u3070\u6559\u3048\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n<p>\u305f\u3060\u3001\u3053\u308c\u3089\u3082\u7d50\u5c40\u306f\u9577\u671f\u6295\u8cc7\u3067\u3042\u308b\u3002\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u306a\u308c\u3070\u7d50\u5c40\u306f\u3059\u3079\u3066\u306e\u8cc7\u7523\u4fa1\u683c\u304c\u4e0b\u843d\u3059\u308b\u3002\u671b\u307f\u304c\u3042\u308b\u3068\u3059\u308c\u3070\u9577\u671f\u304b\u8d85\u9577\u671f\u306e\u56fd\u50b5\u3060\u304c\u3001\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3067\u552f\u4e00\u4e0a\u304c\u3063\u305f\u8cc7\u7523\u3067\u3042\u308b\u56fd\u50b5\u3082\u3001\u4eca\u56de\u306f\u30a4\u30f3\u30d5\u30ec\u304c\u3042\u308a\u3001\u30ea\u30b9\u30af\u30aa\u30d5\u306e\u4e0a\u6607\u5206\u304c\u30a4\u30f3\u30d5\u30ec\u306e\u4e0b\u843d\u5206\u3092\u6253\u3061\u6d88\u305b\u308b\u304b\u306f\u5b9a\u304b\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/4454\" data-type=\"post\" data-id=\"4454\">\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3067\u6025\u843d\u3057\u305f\u91d1\u4fa1\u683c\u3001\u4e0a\u6607\u3057\u305f\u7c73\u56fd\u50b5<\/a><\/li><\/ul>\n\n\n\n<p>\u7d50\u5c40\u306f\u7a7a\u58f2\u308a\u304c\u51fa\u6765\u306a\u3051\u308c\u3070\u751f\u304d\u6b8b\u308b\u306e\u306f\u96e3\u3057\u3044\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u7a7a\u58f2\u308a\u3092\u3057\u306a\u3044\u500b\u4eba\u6295\u8cc7\u5bb6\u306b\u306f\u7d76\u671b\u7684\u306a\u7d50\u8ad6\u3060\u304c\u3001\u7a7a\u58f2\u308a\u3092\u3059\u308b\u500b\u4eba\u6295\u8cc7\u5bb6\u306b\u306f\u5225\u306b\u7d76\u671b\u7684\u306a\u7d50\u8ad6\u3067\u306f\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\/27199\" data-type=\"post\" data-id=\"27199\">\u7c73\u56fd\u682a\u306e\u4eca\u5f8c\u306e\u898b\u901a\u3057: \u4f01\u696d\u5229\u76ca\u6fc0\u6e1b\u3067\u682a\u4fa1\u306f\u518d\u3073\u66b4\u843d\u3078\u3001\u7a7a\u58f2\u308a\u518d\u958b<\/a><\/li><\/ul>\n\n\n\n<p>\u305f\u3060\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u300c\u5fc5\u9700\u54c1\u300d\u306b\u3053\u3060\u308f\u3063\u305f\u3053\u3068\u306b\u306f\u610f\u5473\u304c\u3042\u308b\u3002\u305d\u306e\u610f\u5473\u306f\u3001\u524d\u56de\u306e\u8a18\u4e8b\u3092\u8aad\u3081\u3070\u5206\u304b\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/28074\" data-type=\"post\" data-id=\"28074\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u7c73\u56fd\u7d4c\u6e08\u306f\u98a8\u524d\u306e\u706f\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u30b9\u30ed\u30fc\u30c0\u30a6\u30f3\u3059\u3079\u304d<\/a><\/li><\/ul>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u306b\u305b\u3088\u666f\u6c17\u5f8c\u9000\u306b\u305b\u3088\u3001\u4eba\u3005\u304c\u56f0\u7aae\u3059\u308b\u3053\u3068\u306b\u306f\u5909\u308f\u308a\u306f\u306a\u3044\u3002\u305d\u308c\u304c\u73fe\u91d1\u7d66\u4ed8\u3068\u8131\u70ad\u7d20\u653f\u7b56\u306e\u30c4\u30b1\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24345\" data-type=\"post\" data-id=\"24345\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u666f\u6c17\u5f8c\u9000\u4e88\u60f3: \u73fe\u91d1\u7d66\u4ed8\u306e\u30c4\u30b1\u3092\u6255\u3046\u3053\u3068\u306b\u306a\u308b<\/a><\/li><\/ul>\n\n\n\n<p>\u4eba\u3005\u304c\u56f0\u7aae\u3057\u305f\u3068\u304d\u3001\u305d\u308c\u3067\u3082\u4eba\u3005\u304c\u8cb7\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u306e\u304c\u5fc5\u9700\u54c1\u3067\u3042\u308b\u3002\u30a8\u30cd\u30eb\u30ae\u30fc\u4f01\u696d\u306e\u682a\u304c\u4e0b\u304c\u308b\u3068\u3057\u3066\u3082\u3001\u4ed6\u306e\u682a\u5f0f\u307b\u3069\u4e0b\u304c\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3060\u308d\u3046\u3068\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u4e88\u60f3\u3057\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002\u5f7c\u306f\u6b21\u306e\u3088\u3046\u306b\u7e8f\u3081\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u4eba\u3005\u306f\u98df\u6599\u3084\u4ed6\u306e\u5fc5\u9700\u54c1\u3092\u8cb7\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u304c\u3001\u3042\u3089\u3086\u308b\u8d05\u6ca2\u54c1\u306e\u305f\u3081\u306e\u8cc7\u91d1\u306f\u6b8b\u3055\u308c\u306a\u3044\u3060\u308d\u3046\u3002<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>\u7269\u4fa1\u9ad8\u9a30\u3092\u6291\u5236\u3059\u308b\u305f\u3081\u306b\u30a2\u30e1\u30ea\u30ab\u306eFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u304c\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u958b\u59cb\u3057\u3066\u4ee5\u6765\u3001\u91d1\u878d\u5e02\u5834\u3067\u306f\u3042\u3089\u3086\u308b\u3082\u306e\u304c\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002\u5229\u4e0a\u3052\u3067\u682a\u5f0f\u3082\u50b5\u5238\u3082\u4e21\u65b9\u4e0b\u843d\u3059\u308b\u306e\u3067\u3001\u5206\u6563\u3068\u601d\u3063\u3066\u4e21\u65b9\u8cb7\u3063\u305f\u6295\u8cc7\u5bb6\u306f\u9177\u3044\u76ee\u306b\u906d\u3063\u3066\u3044\u308b\u3002 \u30b8\u30e0 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/28114\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u682a\u5f0f\u3082\u50b5\u5238\u3082\u4e0b\u843d\u3059\u308b\u76f8\u5834\u3067\u4f55\u306b\u6295\u8cc7\u3059\u3079\u304d\u304b<\/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":[118,59,111,57,108,109],"tags":[131],"class_list":["post-28114","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-us-stock-market","category-stock-markets","category-commodity-markets","category-bond-markets","category-crude-oil","tag-jeffrey-gundlach"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/28114","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=28114"}],"version-history":[{"count":33,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/28114\/revisions"}],"predecessor-version":[{"id":28149,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/28114\/revisions\/28149"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=28114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=28114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=28114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}