{"id":29037,"date":"2022-10-03T20:04:00","date_gmt":"2022-10-03T11:04:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=29037"},"modified":"2022-10-03T17:48:12","modified_gmt":"2022-10-03T08:48:12","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f%e3%80%81%e3%82%a4%e3%83%b3%e3%83%95%e3%83%ac%e7%9b%b8%e5%a0%b4%e3%81%a7%e3%81%bb%e3%81%bc%e3%83%8e%e3%83%bc%e3%83%aa%e3%82%b9%e3%82%af","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/29037","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3001\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u3067\u307b\u307c\u30ce\u30fc\u30ea\u30b9\u30af\u306720%\u306e\u5229\u76ca\u3092\u5f97\u308b\u65b9\u6cd5\u3092\u8a9e\u308b"},"content":{"rendered":"\n<p>\u307e\u305f\u307e\u305f\u30ce\u30fc\u30ea\u30b9\u30af\u30b7\u30ea\u30fc\u30ba\u3067\u3042\u308b\u3002DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cCNBC\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u3067\u5b89\u5168\u306a\u30ea\u30bf\u30fc\u30f3\u3092\u5f97\u308b\u65b9\u6cd5\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u306e\u3067\u7d39\u4ecb\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u682a\u5f0f\u3068\u50b5\u5238\u306e\u9b45\u529b<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f2022\u5e74\u5f53\u521d\u306e\u91d1\u878d\u5e02\u5834\u306e\u72b6\u6cc1\u304b\u3089\u8a71\u3092\u59cb\u3081\u3066\u3044\u308b\u3002\u5f7c\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u682a\u5f0f\u5e02\u5834\u306f\u4eca\u5e74\u3001\u3042\u3089\u3086\u308b\u6307\u6a19\u306b\u304a\u3044\u3066\u904e\u5927\u8a55\u4fa1\u306e\u6c34\u6e96\u3067\u59cb\u307e\u3063\u305f\u3002\u682a\u4fa1\u306f\u904e\u53bb\u306e\u6c34\u6e96\u306b\u6bd4\u3079\u3066\u9ad8\u5024\u306b\u3042\u3063\u305f\u4e00\u65b9\u3067\u3001\u50b5\u5238\u306b\u6bd4\u3079\u308b\u3068\u4fe1\u3058\u3089\u308c\u306a\u3044\u307b\u3069\u5272\u5b89\u3060\u3063\u305f\u3002<\/p><\/blockquote>\n\n\n\n<p>\u3060\u304b\u3089\u682a\u4fa1\u306f\u4e0a\u304c\u3063\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<p>\u3060\u304cFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u5229\u4e0a\u3052\u3068\u91cf\u7684\u5f15\u304d\u7de0\u3081\u3067\u72b6\u6cc1\u306f\u4e00\u5909\u3057\u305f\u3002\u91d1\u5229\u4e0a\u6607\u3068\u306f\u50b5\u5238\u306e\u4fa1\u683c\u4e0b\u843d\u3092\u610f\u5473\u3059\u308b\u306e\u3067\u3001\u682a\u5f0f\u3088\u308a\u3082\u5272\u9ad8\u3060\u3063\u305f\u50b5\u5238\u5e02\u5834\u304c\u5927\u5e45\u306b\u4e0b\u843d\u3057\u305f\u3002\u682a\u5f0f\u306f\u300c\u307b\u3068\u3093\u3069\u91d1\u5229\u306e\u306a\u3044\u50b5\u5238\u306b\u6bd4\u3079\u308c\u3070\u5f97\u300d\u3068\u3044\u3046\u30b9\u30c6\u30fc\u30bf\u30b9\u3092\u5931\u3063\u305f\u306e\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>\u3060\u304b\u3089\u73fe\u6642\u70b9\u3067\u306f\u3001\u5e74\u59cb\u3068\u771f\u9006\u306e\u72b6\u6cc1\u306b\u3042\u308b\u3002\u682a\u4fa1\u306f\u5e74\u59cb\u3088\u308a\u5272\u9ad8\u3067\u306f\u306a\u304f\u306a\u3063\u305f\u304c\u3001\u50b5\u5238\u6295\u8cc7\u306b\u6bd4\u3079\u308b\u3068\u5272\u9ad8\u306a\u72b6\u614b\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u305d\u308c\u306f\u3064\u307e\u308a\u3001\u682a\u5f0f\u306b\u6bd4\u3079\u3066\u50b5\u5238\u6295\u8cc7\u306e\u9b45\u529b\u304c\u4e0a\u304c\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u3060\u3068\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u8a00\u3046\u3002<\/p>\n\n\n\n<p><strong>\u5909\u52d5\u91d1\u5229\u306e\u9280\u884c\u30ed\u30fc\u30f3<\/strong><\/p>\n\n\n\n<p>\u5f7c\u306b\u3088\u308c\u3070\u3001\u91d1\u5229\u304c\u4e0a\u304c\u3063\u305f\u4eca\u306f\u50b5\u5238\u6295\u8cc7\u306e\u30c1\u30e3\u30f3\u30b9\u306a\u306e\u3060\u305d\u3046\u3060\u3002\u5f7c\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>\u307b\u3068\u3093\u3069\u30ea\u30b9\u30af\u306e\u7121\u3044\u50b5\u5238\u306b\u6295\u8cc7\u3092\u3057\u30665%\u304b\u308910%\u306e\u30ea\u30bf\u30fc\u30f3\u3092\u5f97\u308b\u3053\u3068\u306f\u305f\u3084\u3059\u3044\u3002<\/p><p>\u308f\u305f\u3057\u304c\u8003\u3048\u3066\u3044\u308b\u306e\u306f\u5909\u52d5\u91d1\u5229\u306e\u9280\u884c\u30ed\u30fc\u30f3\u306e\u3053\u3068\u3060\u3002\u9ad8\u30ea\u30b9\u30af\u306e\u3082\u306e\u3067\u306f\u306a\u304f\u3001BB\u683c\u4ed8\u3051\u306a\u3069\u306e\u6bd4\u8f03\u7684\u5b89\u5168\u306a\u3082\u306e\u3060\u3002<\/p><\/blockquote>\n\n\n\n<p>\u5909\u52d5\u91d1\u5229\u3068\u306f\u3001\u653f\u7b56\u91d1\u5229\u306a\u3069\u306b\u9023\u52d5\u3057\u3066\u91d1\u5229\u304c\u81ea\u52d5\u7684\u306b\u4e0a\u4e0b\u3059\u308b\u50b5\u5238\u306e\u3053\u3068\u3067\u3042\u308b\u3002\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>\u3053\u3046\u3057\u305f\u5909\u52d5\u91d1\u5229\u306e\u9280\u884c\u30ed\u30fc\u30f3\u306e\u50b5\u5238\u306f\u3001Fed\u304c\u5229\u4e0a\u3052\u3092\u3059\u308b\u3068\u305d\u306e\u5229\u4e0a\u3052\u5206\u3060\u3051\u5229\u56de\u308a\u304c\u5897\u3048\u308b\u3002\u3060\u304b\u3089\u3053\u308c\u3089\u306e\u50b5\u5238\u306e\u91d1\u5229\u3082\u4e0a\u304c\u3063\u3066\u304a\u308a\u3001\u3053\u306e\u307e\u307e\u30c9\u30c3\u30c8\u30d7\u30ed\u30c3\u30c8\uff08\u8a33\u6ce8\uff1aFed\u304c\u516c\u8868\u3057\u3066\u3044\u308b\u5229\u4e0a\u3052\u898b\u901a\u3057\u3092\u793a\u3057\u305f\u8868\uff09\u306e\u901a\u308a\u306b\u5229\u4e0a\u3052\u3055\u308c\u308b\u3068\u3001\u3053\u308c\u3089\u306e\u50b5\u5238\u306e\u91d1\u5229\u306f7.5%\u304b8%\u306b\u306a\u308b\u3002<\/p><p>\u3053\u308c\u3089\u306e\u50b5\u5238\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u53ef\u80fd\u6027\u304c\u304b\u306a\u308a\u4f4e\u3044\u3002\u30ea\u30b9\u30af\u8cc7\u7523\u304c\u4e0b\u843d\u3059\u308c\u3070\u4fa1\u683c\u306e\u4e0b\u843d\u306f\u3042\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001\u305d\u308c\u306f\u65e2\u306b\u8d77\u3053\u3063\u3066\u3044\u308b\u3002\u305d\u308c\u3082\u30d7\u30e9\u30b9\u3060\u3002<\/p><\/blockquote>\n\n\n\n<p>\u305d\u3057\u3066\u50b5\u5238\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u306a\u3051\u308c\u3070\u3001\u6e80\u671f\u307e\u3067\u6301\u3066\u3070\u9014\u4e2d\u306e\u4fa1\u683c\u306e\u4e0a\u4e0b\u52d5\u306f\u95a2\u4fc2\u306a\u304f\u3001\u6240\u5b9a\u306e\u91d1\u5229\u3092\u5f97\u305f\u4e0a\u3067\u5143\u672c\u306f\u8fd4\u3063\u3066\u304f\u308b\u3002<\/p>\n\n\n\n<p>\u5909\u52d5\u91d1\u5229\u306a\u306e\u3067\u4eca\u5f8c\u306e\u653f\u7b56\u91d1\u5229\u306e\u63a8\u79fb\u306b\u3082\u3088\u308b\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u5c11\u306a\u304f\u3068\u3082\u6570\u5e74\u53ce\u307e\u3089\u306a\u3044\u3068\u306e\u4eee\u5b9a\u306b\u7acb\u3066\u3070\u3001\u6570\u5e74\u306720%\u307b\u3069\u306e\u30ea\u30bf\u30fc\u30f3\u3082\u671b\u3081\u308b\u3060\u308d\u3046\u3002\u3082\u3061\u308d\u3093\u30a4\u30f3\u30d5\u30ec\u3067\u30c9\u30eb\u306e\u4fa1\u5024\u306f\u8584\u307e\u308b\u3053\u3068\u306b\u306a\u308b\u304c\u3001\u73fe\u91d1\u3084\u682a\u5f0f\u3088\u308a\u306f\u30b4\u30df\u3067\u306f\u306a\u3044\u306e\u306f\u660e\u3089\u304b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24809\" data-type=\"post\" data-id=\"24809\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u73fe\u91d1\u306f\u30b4\u30df\u3001\u682a\u5f0f\u306f\u3082\u3063\u3068\u30b4\u30df<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u50b5\u5238\u6295\u8cc7\u306e\u5fa9\u6d3b<\/strong><\/p>\n\n\n\n<p>\u3053\u308c\u307e\u3067\u4f4e\u91d1\u5229\u653f\u7b56\u3067\u50b5\u5238\u306b\u6295\u8cc7\u3092\u3057\u3066\u3082\u5927\u3057\u305f\u91d1\u5229\u306f\u4ed8\u304b\u306a\u304b\u3063\u305f\u306e\u3060\u304c\u3001\u5229\u4e0a\u3052\u304c\u9032\u3093\u3067\u3044\u308b\u3053\u3068\u3067\u50b5\u5238\u6295\u8cc7\u306b\u9b45\u529b\u304c\u623b\u3063\u3066\u3044\u308b\u3002\uff08\u305d\u308c\u306f\u682a\u5f0f\u306b\u8cc7\u91d1\u304c\u884c\u304d\u306b\u304f\u3044\u3053\u3068\u3082\u610f\u5473\u3059\u308b\u306e\u3060\u304c\u3002\uff09<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u308c\u3088\u308a\u3082\u91cd\u8981\u306a\u306e\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u306b\u304a\u3044\u3066\u5909\u52d5\u91d1\u5229\u306e\u50b5\u5238\u304c\u6709\u529b\u306a\u6295\u8cc7\u5148\u3060\u3068\u3044\u3046\u3053\u3068\u3060\u308d\u3046\u3002\u3053\u308c\u306f\u524d\u56de\u306e\u8a18\u4e8b\u3067\u63a8\u5968\u3057\u305f\u9810\u91d1\u306b\u4f3c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/28935\" data-type=\"post\" data-id=\"28935\">\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u3067\u306e\u6700\u826f\u306e\u6295\u8cc7\u65b9\u6cd5\u306f\u682a\u306e\u7a7a\u58f2\u308a\u3092\u9664\u3051\u3070\u682a\u5f0f\u6295\u8cc7\u3067\u306f\u306a\u304f\u9810\u91d1<\/a><\/li><\/ul>\n\n\n\n<p>\u9810\u91d1\u306b\u4ed8\u304f\u91d1\u5229\u306f\u653f\u7b56\u91d1\u5229\u306b\u9023\u52d5\u3057\u3001\u671f\u9593\u306e\u5b9a\u3081\u304c\u306a\u3044\uff08\u3044\u3064\u3067\u3082\u5f15\u304d\u51fa\u305b\u308b\uff09\u3053\u3068\u304c\u7279\u5fb4\u3060\u3063\u305f\u3002\u671f\u9593\u304c\u306a\u3044\u304b\u3089\u3053\u305d\u305d\u306e\u65e5\u306e\u653f\u7b56\u91d1\u5229\u306b\u5f93\u3063\u30661\u65e5\u3054\u3068\u306e\u91d1\u5229\u304c\u4ed8\u304f\u306e\u3067\u3042\u308a\u3001\u3057\u305f\u304c\u3063\u3066\u5229\u4e0a\u3052\u3067\u91d1\u5229\u304c\u4e0a\u304c\u308c\u3070\u9810\u91d1\u306e\u91d1\u5229\u3082\u4e0a\u304c\u3063\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<p>\u4e0a\u8a18\u306e\u8a18\u4e8b\u3067\u793a\u3057\u305f\u901a\u308a\u3001\u9810\u91d1\u306e\u91d1\u5229\u306f\u9577\u671f\u7684\u306b\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u306b\u8ffd\u3044\u3064\u304d\u3001\u30a4\u30f3\u30d5\u30ec\u306b\u3088\u308b\u8cc7\u7523\u306e\u76ee\u6e1b\u308a\u3092\u30d8\u30c3\u30b8\u3057\u3066\u304f\u308c\u308b\u3002<\/p>\n\n\n\n<p>\u5909\u52d5\u91d1\u5229\u306e\u50b5\u5238\u3082\u540c\u3058\u30b3\u30f3\u30bb\u30d7\u30c8\u3067\u3042\u308b\u3002\u5229\u4e0a\u3052\u304c\u884c\u308f\u308c\u308c\u3070\u81ea\u52d5\u7684\u306b\u5229\u56de\u308a\u304c\u4e0a\u6607\u3059\u308b\u306e\u3067\u3001\u5909\u52d5\u91d1\u5229\u306e\u50b5\u5238\u306e\u91d1\u5229\u3082\u30a4\u30f3\u30d5\u30ec\u7387\u306b\u3042\u308b\u7a0b\u5ea6\u9023\u52d5\u3059\u308b\u3002<\/p>\n\n\n\n<p><strong>\u5909\u52d5\u91d1\u5229\u3068\u9810\u91d1\u91d1\u5229\u306e\u9055\u3044<\/strong><\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u30d8\u30c3\u30b8\u3068\u3057\u3066\u306e\u9810\u91d1\u3068\u5909\u52d5\u91d1\u5229\u306b\u5927\u3057\u305f\u9055\u3044\u306f\u306a\u3044\u306e\u3060\u304c\u30011\u3064\u9055\u3044\u3092\u6319\u3052\u308b\u3068\u5909\u52d5\u91d1\u5229\u306b\u306f\u671f\u9593\u304c\u3042\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u4f8b\u3048\u30702\u5e74\u7269\u306e\u5909\u52d5\u91d1\u5229\u306e\u50b5\u5238\u306a\u3089\u30702\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u3092\u30d9\u30fc\u30b9\u306b\u52d5\u304f\u306e\u3067\u3001\u653f\u7b56\u91d1\u5229\u306b\u9023\u52d5\u3059\u308b\u9810\u91d1\u306e\u91d1\u5229\u3068\u306f\u52d5\u304d\u304c\u591a\u5c11\u9055\u3063\u3066\u304f\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u3053\u6700\u8fd1\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u7b56\u91d1\u5229\u30682\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u3092\u4e26\u3079\u3066\u307f\u308b\u3068\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\/10\/2022-10-3-us-2-year-treasury-bond-yield-and-federal-funds-rate-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-10-3-us-2-year-treasury-bond-yield-and-federal-funds-rate-chart.png\" alt=\"\" class=\"wp-image-29055\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-10-3-us-2-year-treasury-bond-yield-and-federal-funds-rate-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-10-3-us-2-year-treasury-bond-yield-and-federal-funds-rate-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p>2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306f\u4eca\u5f8c\u306e\u653f\u7b56\u91d1\u5229\u306e\u63a8\u79fb\u3092\u4e8b\u524d\u306b\u7e54\u308a\u8fbc\u3093\u3067\u63a8\u79fb\u3059\u308b\u306e\u3067\u3001\u5229\u4e0a\u3052\u5c40\u9762\u3067\u306f2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u304c\u653f\u7b56\u91d1\u5229\u3088\u308a\u5148\u306b\u4e0a\u304c\u308a\u3001\u5229\u4e0b\u3052\u5c40\u9762\u3067\u306f\u5148\u306b\u4e0b\u304c\u3063\u3066\u3044\u308b\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<p>\u50b5\u5238\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306f\u91d1\u5229\u306f\u9ad8\u3044\u65b9\u304c\u826f\u3044\u306e\u3067\u3001\u91d1\u5229\u304c\u4e0a\u304c\u308b\u524d\u3067\u3042\u308c\u30702\u5e74\u7269\u56fd\u50b5\u306b\u9023\u52d5\u3059\u308b\u5909\u52d5\u91d1\u5229\u306e\u65b9\u304c\u826f\u3044\u3060\u308d\u3046\u304c\u3001\u3053\u308c\u304b\u3089\u4e0b\u304c\u308b\u306e\u3067\u3042\u308c\u3070\u653f\u7b56\u91d1\u5229\u306b\u9023\u52d5\u3059\u308b\u9810\u91d1\u306e\u65b9\u304c\u826f\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u5229\u4e0a\u3052\u304c\u65e2\u306b\u76f8\u5f53\u7a0b\u5ea6\u884c\u308f\u308c\u3066\u3044\u308b\u3053\u3068\u3001\u671f\u9593\u304c\u3042\u308b\u5909\u52d5\u91d1\u5229\u306e\u50b5\u5238\u306f\u591a\u5c11\u3060\u304c\u4fa1\u683c\u306e\u4e0a\u4e0b\u52d5\u304c\u3042\u308b\u3053\u3068\u3092\u8003\u3048\u308b\u3068\u3001\u5909\u52d5\u91d1\u5229\u3088\u308a\u9810\u91d1\u306e\u65b9\u304c\u826f\u3055\u305d\u3046\u3060\u304c\u3001\u5927\u3057\u305f\u5dee\u3067\u306f\u306a\u3044\u3057\u3001\u30a4\u30f3\u30d5\u30ec\u306b\u3088\u308b\u8cc7\u7523\u306e\u76ee\u6e1b\u308a\u3092\u8efd\u6e1b\u3057\u3066\u304f\u308c\u308b\u6709\u52b9\u306a\u30a4\u30f3\u30d5\u30ec\u5bfe\u7b56\u304c2\u3064\u3082\u3042\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u899a\u3048\u3066\u304a\u3044\u3066\u640d\u306f\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u5909\u52d5\u91d1\u5229\u306b\u6295\u8cc7\u3059\u308b\u305f\u3081\u306eETF\u306b\u306f\u4f8b\u3048\u3070iShares Floating Rate Bond ETF (FLOT)\u306a\u3069\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u9023\u52d5\u56fd\u50b5<\/strong><\/p>\n\n\n\n<p>\u66f4\u306b\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u8a00\u53ca\u3057\u3066\u3044\u306a\u3044\u304c1\u3064\u4ed8\u3051\u8db3\u3057\u3066\u304a\u304f\u3068\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u56de\u907f\u3059\u308b\u305f\u3081\u306e\u6295\u8cc7\u624b\u6bb5\u3068\u3057\u3066\u3001\u9810\u91d1\u3068\u5909\u52d5\u91d1\u5229\u306e\u4ed6\u306b\u30a4\u30f3\u30d5\u30ec\u9023\u52d5\u56fd\u50b5\u304c\u6319\u3052\u3089\u308c\u308b\u3002\u5e02\u5834\u306e\u6c7a\u3081\u308b\u91d1\u5229\u306e\u4ed6\u306b\u30a4\u30f3\u30d5\u30ec\u5206\u304c\u4e0a\u4e57\u305b\u3057\u3066\u652f\u6255\u308f\u308c\u308b\u56fd\u50b5\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>10\u5e74\u7269\u306e\u30a4\u30f3\u30d5\u30ec\u9023\u52d5\u56fd\u50b5\u306e\u91d1\u5229\u306f\u73fe\u57281.57%\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\/10\/2022-10-2-us-10-year-treasury-inflation-indexed-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"471\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-10-2-us-10-year-treasury-inflation-indexed-bond-yield-chart.png\" alt=\"\" class=\"wp-image-29060\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-10-2-us-10-year-treasury-inflation-indexed-bond-yield-chart.png 471w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-10-2-us-10-year-treasury-inflation-indexed-bond-yield-chart-300x297.png 300w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-10-2-us-10-year-treasury-inflation-indexed-bond-yield-chart-120x120.png 120w\" sizes=\"auto, (max-width: 471px) 100vw, 471px\" \/><\/a><\/figure>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u9023\u52d5\u56fd\u50b5\u306e\u91d1\u5229\u306f\u5e02\u5834\u306e\u5b9f\u8cea\u91d1\u5229\u306e\u4e88\u60f3\u5024\u3067\u3082\u3042\u308a\u30011.5%\u3068\u3044\u3046\u9ad8\u3044\u5b9f\u8cea\u91d1\u5229\u306b\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u8010\u3048\u3089\u308c\u306a\u3044\u3068\u601d\u308f\u308c\u308b\u304c\u3001\u305d\u308c\u306f\u307e\u305f\u5225\u306b\u8a18\u4e8b\u3092\u66f8\u304f\u5fc5\u8981\u304c\u3042\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u308c\u306f\u9006\u306b\u50b5\u5238\u6295\u8cc7\u5bb6\u306b\u306f\u6717\u5831\u3067\u3042\u308b\u3002\u73fe\u5728\u306e\u30a4\u30f3\u30d5\u30ec\u9023\u52d5\u56fd\u50b5\u306e\u6c34\u6e96\u306f\u3001\u4eca\u5f8c10\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u3092\u3059\u3079\u3066\u30ab\u30d0\u30fc\u3057\u305f\u4e0a\u30671.5%\u306e\u91d1\u5229\u3092\u6bce\u5e74\u53d7\u3051\u53d6\u308c\u308b\u6c34\u6e96\u3067\u3042\u308a\u3001\u682a\u4fa1\u3082\u50b5\u5238\u3082\u66b4\u843d\u3059\u308b\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u3067\u3053\u308c\u307b\u3069\u306e\u6295\u8cc7\u624b\u6bb5\u306f\u682a\u306e\u7a7a\u58f2\u308a\u3092\u9664\u3051\u3070\u4ed6\u306b\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\/28426\" data-type=\"post\" data-id=\"28426\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u682a\u5f0f\u5e02\u5834\u306f40\u5e74\u524d\u306e\u7269\u4fa1\u9ad8\u9a30\u6642\u4ee3\u3088\u308a\u9177\u3044\u60e8\u72b6\u306b<\/a><\/li><\/ul>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u9023\u52d5\u56fd\u50b5\u306b\u3082ETF\u304c\u3042\u308a\u3001\u4f8b\u3048\u3070iShares TIPS Bond ETF (TIPS)\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u9023\u52d5\u56fd\u50b5\u306e\u6b20\u70b9\u306f\u3001\u6642\u671f\u306b\u3088\u3063\u3066\u306f\u91d1\u5229\u304c\u30de\u30a4\u30ca\u30b9\u306b\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u304c\u3042\u308b\u3053\u3068\uff08\u4eca\u306f\u5f53\u3066\u306f\u307e\u3089\u306a\u3044\uff09\u3001\u305d\u3057\u3066\u4fa1\u683c\u5909\u52d5\u304c\u5927\u304d\u3044\u3053\u3068\u3060\u308d\u3046\u304b\u3002\u3057\u304b\u3057\u4fa1\u683c\u5909\u52d5\u306b\u3064\u3044\u3066\u306f\u6e80\u671f\u307e\u3067\u6301\u3066\u3070\u95a2\u4fc2\u304c\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u30c7\u30d5\u30ec\u306b\u306a\u308c\u3070\u9006\u306b\u30da\u30ca\u30eb\u30c6\u30a3\u3092\u6255\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3053\u3068\u3082\u6ce8\u610f\u70b9\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u30a4\u30f3\u30d5\u30ec\u3092\u56de\u907f\u3059\u308b\u3068\u540c\u6642\u306b\u30c7\u30d5\u30ec\u3067\u3082\u306e\u3092\u5b89\u304f\u8cb7\u3048\u308b\u53ef\u80fd\u6027\u3082\u6368\u3066\u308b\u3068\u3044\u3046\u3053\u3068\u304c\u30a4\u30f3\u30d5\u30ec\u30d8\u30c3\u30b8\u306e\u610f\u5473\u3067\u3042\u308b\u304b\u3089\u3001\u305d\u3053\u306f\u8ae6\u3081\u308b\u3079\u304d\u3060\u308d\u3046\u3002\u305f\u3060\u3001\u9810\u91d1\u3084\u5909\u52d5\u91d1\u5229\u3067\u3042\u308c\u3070\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u306b\u306a\u3089\u306a\u3051\u308c\u3070\u30da\u30ca\u30eb\u30c6\u30a3\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u3068\u3044\u3046\u3053\u3068\u3067\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u85a6\u3081\u308b\u5909\u52d5\u91d1\u5229\u306e\u50b5\u5238\u3092\u542b\u3081\u3001\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u306b\u304a\u3051\u308b\u6709\u52b9\u306a\u50b5\u5238\u6295\u8cc7\u306e\u65b9\u6cd5\u304c\u3044\u304f\u3089\u3067\u3082\u3042\u308b\u3068\u3044\u3046\u3053\u3068\u3092\u793a\u3057\u305f\u3002\u30a4\u30f3\u30d5\u30ec\u3092\u56de\u907f\u3059\u308b\u305f\u3081\u306b\u30a4\u30f3\u30d5\u30ec\u3067\u66b4\u843d\u3059\u308b\u682a\u5f0f\u306b\u7a81\u3063\u8fbc\u3093\u3067\u3044\u3063\u305f\u4eba\u3005\u306f\u3054\u6101\u50b7\u69d8\u3067\u3042\u308b\u3002\u5e74\u59cb\u304b\u3089\u8b66\u544a\u3057\u3066\u304a\u3044\u305f\u3067\u306f\u306a\u3044\u304b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/28860\" data-type=\"post\" data-id=\"28860\">\u7c73\u56fd\u682a\u306e\u4e0b\u843d\u306f\u3044\u3064\u307e\u3067\u7d9a\u304f\u306e\u304b\uff1f\u3000\u5e95\u5024\u307e\u3067\u306e\u8ddd\u96e2\u3092\u4e88\u60f3\u3059\u308b<\/a><\/li><\/ul>\n\n\n\n<p>\u91d1\u878d\u5e81\u306f\u672c\u5f53\u306b\u52c9\u5f37\u4e0d\u8db3\u306a\u306e\u3067\u65e5\u672c\u56fd\u6c11\u306b\u571f\u4e0b\u5ea7\u3059\u3079\u304d\u3067\u306f\u306a\u3044\u3060\u308d\u3046\u304b\u3002\u5b50\u4f9b\u306b\u307e\u3067\u8a50\u6b3a\u307e\u304c\u3044\u306e\u6295\u8cc7\u65b9\u6cd5\u3092\u6559\u3048\u308b\u306a\u3069\u3001\u5f7c\u3089\u306f\u672c\u5f53\u306b\u4fe1\u3058\u304c\u305f\u3044\u3053\u3068\u3092\u3059\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><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","protected":false},"excerpt":{"rendered":"<p>\u307e\u305f\u307e\u305f\u30ce\u30fc\u30ea\u30b9\u30af\u30b7\u30ea\u30fc\u30ba\u3067\u3042\u308b\u3002DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cCNBC\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u3067\u5b89\u5168\u306a\u30ea\u30bf\u30fc\u30f3\u3092\u5f97\u308b\u65b9\u6cd5\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u306e\u3067\u7d39\u4ecb\u3057\u305f\u3044\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-29037","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\/29037","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=29037"}],"version-history":[{"count":49,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/29037\/revisions"}],"predecessor-version":[{"id":29088,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/29037\/revisions\/29088"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=29037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=29037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=29037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}