{"id":31581,"date":"2022-12-05T20:03:00","date_gmt":"2022-12-05T11:03:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=31581"},"modified":"2022-12-06T00:49:50","modified_gmt":"2022-12-05T15:49:50","slug":"%e3%82%b5%e3%83%9e%e3%83%bc%e3%82%ba%e6%b0%8f-%e9%87%91%e5%88%a9%e3%81%af%e5%b8%82%e5%a0%b4%e3%81%ae%e7%b9%94%e3%82%8a%e8%be%bc%e3%81%bf%e4%bb%a5%e4%b8%8a%e3%81%ab%e4%b8%8a%e3%81%8c%e3%82%8b","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31581","title":{"rendered":"\u30b5\u30de\u30fc\u30ba\u6c0f: \u91d1\u5229\u306f\u5e02\u5834\u306e\u7e54\u308a\u8fbc\u307f\u4ee5\u4e0a\u306b\u4e0a\u304c\u308b"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u3053\u308c\u307e\u3067\u30a4\u30f3\u30d5\u30ec\u3092\u6050\u3089\u304f\u306f\u4e00\u756a\u6b63\u3057\u304f\u4e88\u60f3\u3057\u3066\u304d\u305f\u7d4c\u6e08\u5b66\u8005\u306e\u30e9\u30ea\u30fc\u30fb\u30b5\u30de\u30fc\u30ba\u6c0f\u304c\u3001Bloomberg\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u30a4\u30f3\u30d5\u30ec\u6e1b\u901f\u3067\u91d1\u5229\u4f4e\u4e0b\u3092\u7e54\u308a\u8fbc\u307f\u59cb\u3081\u3066\u3044\u308b\u91d1\u878d\u5e02\u5834\u306b\u7570\u8b70\u3092\u5531\u3048\u3066\u3044\u308b\u3002\uff0812\/6\u8aa4\u5b57\u4fee\u6b63\uff09<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u52a0\u901f\u3059\u308b\u8cc3\u91d1\u30a4\u30f3\u30d5\u30ec<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5148\u6708\u767a\u8868\u3055\u308c\u305f10\u6708\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u5e02\u5834\u306e\u4e88\u60f3\u4ee5\u4e0a\u306e\u6025\u6e1b\u901f\u3068\u306a\u3063\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30580\" data-type=\"post\" data-id=\"30580\">10\u6708\u7c73\u30a4\u30f3\u30d5\u30ec\u7387\u306f7.8%\u306b\u6025\u6e1b\u901f\u3001\u30c9\u30eb\u9ad8\u76f8\u5834\u306e\u7d42\u7109<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u308c\u3067\u5e02\u5834\u306f\u3088\u3046\u3084\u304f\u5229\u4e0a\u3052\u304b\u3089\u89e3\u653e\u3055\u308c\u308b\u3068\u8003\u3048\u3001\u91d1\u5229\u4f4e\u4e0b\u3001\u30c9\u30eb\u5b89\u3001\u682a\u9ad8\u3067\u53cd\u5fdc\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u4eca\u6708\u767a\u8868\u3055\u308c\u305f\u96c7\u7528\u7d71\u8a08\u3067\u306f\u3001\u30b5\u30fc\u30d3\u30b9\u306e\u4fa1\u683c\u306a\u3069\u306b\u5f71\u97ff\u3059\u308b\u5e73\u5747\u6642\u7d66\u306e\u4e0a\u6607\u7387\u304c\u524d\u5e74\u540c\u6708\u6bd4\u30675.1%\u306b\u52a0\u901f\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31524\" data-type=\"post\" data-id=\"31524\">11\u6708\u96c7\u7528\u7d71\u8a08\u3067\u5e73\u5747\u6642\u7d66\u4e0a\u6607\u3001\u8cc3\u91d1\u30a4\u30f3\u30d5\u30ec\u6839\u5f37\u304f\u9ad8\u91d1\u5229\u7d99\u7d9a\u304b<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306b\u3059\u3050\u306b\u53cd\u5fdc\u3059\u308b\u539f\u6cb9\u4fa1\u683c\u306a\u3069\u3068\u306f\u9055\u3044\u3001\u52b4\u50cd\u5e02\u5834\u306f\u4e2d\u592e\u9280\u884c\u306b\u3068\u3063\u3066\u4e00\u756a\u64cd\u4f5c\u304c\u96e3\u3057\u3044\u90e8\u5206\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u8cc3\u91d1\u30a4\u30f3\u30d5\u30ec\u306f\u6b62\u307e\u3063\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u3053\u3068\u306b\u3064\u3044\u3066\u30b5\u30de\u30fc\u30ba\u6c0f\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\">\n<p class=\"wp-block-paragraph\">\u5e73\u5747\u6642\u7d66\u306e\u4e0a\u6607\u7387\u306f\u76f4\u8fd11\u30f6\u6708\u3067\u5e74\u73877.5%\u3001\u76f4\u8fd13\u30f6\u6708\u30676%\u3001\u76f4\u8fd11\u5e74\u30675%\u3060\u3002\u4e0a\u6607\u7387\u306f\u9ad8\u3044\u3002\u305d\u3057\u3066\u52a0\u901f\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e2d\u592e\u9280\u884c\u304c\u76ee\u6a19\u3068\u3057\u3066\u3044\u308b\u6c34\u6e96\u307e\u3067\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u4e0b\u3052\u308b\u306e\u306b\u306f\u307e\u3060\u307e\u3060\u9577\u3044\u9053\u306e\u308a\u304c\u304b\u304b\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">\u5e73\u5747\u6642\u7d66\u306e\u4e0a\u6607\u7387\u306f\u78ba\u304b\u306b\u52a0\u901f\u3057\u305f\u304c\u3001\u30c8\u30ec\u30f3\u30c9\u3068\u3057\u3066\u306f\u305d\u308c\u307b\u3069\u6025\u6fc0\u306b\u52a0\u901f\u3057\u3066\u3044\u308b\u308f\u3051\u3067\u3082\u306a\u3044\u3002\u30c1\u30e3\u30fc\u30c8\u3092\u3082\u3046\u4e00\u5ea6\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\/12\/2022-nov-us-hourly-earnings-of-all-employees-growth-chart-1.png\"><img loading=\"lazy\" decoding=\"async\" width=\"473\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/12\/2022-nov-us-hourly-earnings-of-all-employees-growth-chart-1.png\" alt=\"\" class=\"wp-image-31591\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/12\/2022-nov-us-hourly-earnings-of-all-employees-growth-chart-1.png 473w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/12\/2022-nov-us-hourly-earnings-of-all-employees-growth-chart-1-300x296.png 300w\" sizes=\"auto, (max-width: 473px) 100vw, 473px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u8a00\u3046\u901a\u308a\u3001\u4eca\u56de\u306e\u30c7\u30fc\u30bf\u306e\u793a\u3057\u3066\u3044\u308b\u306e\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u306f\u7d20\u76f4\u306b\u3059\u3050\u306b\u4e0b\u304c\u3063\u3066\u304f\u308c\u305d\u3046\u306b\u306f\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u539f\u6cb9\u4fa1\u683c\u304c\u4e0b\u304c\u308b\u4e00\u65b9\u3067\u52b4\u50cd\u5e02\u5834\u306f\u307e\u3060\u307e\u3060\u5f37\u3044\u3002\u7269\u4fa1\u306f\u5185\u8a33\u3068\u306a\u308b\u8981\u7d20\u304c\u69d8\u3005\u306b\u52d5\u304d\u306a\u304c\u3089\u3001\u6765\u5e74\u306b\u304b\u3051\u3066\u7de9\u3084\u304b\u306b\u6e1b\u901f\u3059\u308b\u304c\u3001\u5e02\u5834\u304c\u671f\u5f85\u3057\u3066\u3044\u308b\u307b\u3069\u3059\u3050\u306b\u4e0b\u304c\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u305d\u308c\u304c\u30b5\u30de\u30fc\u30ba\u6c0f\u3068\u7b46\u8005\u306e\u898b\u65b9\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u91d1\u5229\u306e\u52d5\u5411<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3055\u3066\u3001\u91d1\u5229\u306f\u3069\u3046\u306a\u308b\u304b\u3002\u5229\u4e0a\u3052\u306f\u4f55\u51e6\u307e\u3067\u884c\u304f\u306e\u304b\u3002\u305d\u308c\u304c\u682a\u5f0f\u5e02\u5834\u306b\u3068\u3063\u3066\u3082\u91cd\u8981\u306a\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u73fe\u5728\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u7b56\u91d1\u5229\u306f3.75%\u3067\u3042\u308a\u3001\u4eca\u6708\u306eFOMC\u4f1a\u5408\u30674.25%\u307e\u3067\u5f15\u304d\u63da\u3052\u3089\u308c\u308b\u3053\u3068\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u554f\u984c\u306f\u305d\u306e\u5f8c\u5229\u4e0a\u3052\u304c\u4f55\u51e6\u307e\u3067\u9032\u3080\u306e\u304b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u30b5\u30de\u30fc\u30ba\u6c0f\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\">\n<p class=\"wp-block-paragraph\">4%\u3067\u6b62\u307e\u308b\u3053\u3068\u306f\u307b\u3068\u3093\u3069\u6709\u308a\u5f97\u306a\u3044\u3088\u3046\u306b\u601d\u3048\u308b\u30026%\u306f\u9593\u9055\u3044\u306a\u304f\u6709\u308a\u5f97\u308b\u30b7\u30ca\u30ea\u30aa\u3060\u3002\u305d\u3046\u8003\u3048\u308b\u30685%\u306f\u91d1\u5229\u306e\u52d5\u5411\u306e\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3067\u306f\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">\u5e02\u5834\u3067\u306f\u653f\u7b56\u91d1\u5229\u306f\u6765\u5e745.25%\u307e\u3067\u4e0a\u304c\u308b\u3068\u7e54\u308a\u8fbc\u307e\u308c\u3066\u3044\u308b\u306e\u3067\u3001\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u305d\u308c\u4ee5\u4e0a\u306e\u5229\u4e0a\u3052\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3088\u3046\u3060\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e8b\u5b9f\u3001\u30a4\u30f3\u30d5\u30ec\u4e88\u60f3\u3068\u30a4\u30f3\u30d5\u30ec\u5148\u884c\u304d\u306f\u7d76\u3048\u305a\u4e0a\u65b9\u4fee\u6b63\u3055\u308c\u3066\u304d\u305f\u3002\u5143\u3005\u306f\u4e2d\u592e\u9280\u884c\u306f\u300c\u30a4\u30f3\u30d5\u30ec\u306f\u4e00\u6642\u7684\u300d\u3060\u3068\u4e3b\u5f35\u3057\u3066\u3044\u305f\u3002\u305d\u3053\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u306f3%\u3092\u8d85\u3048\u30014%\u3092\u8d85\u3048\u30015%\u3092\u8d85\u3048\u30018%\u53f0\u306b\u9054\u3057\u3066\u3001\u91d1\u5229\u3082\u305d\u308c\u306b\u5408\u308f\u305b\u3066\u3069\u3093\u3069\u3093\u4e0a\u304c\u3063\u3066\u304d\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u3053\u306e\u72b6\u6cc1\u3092\u6b21\u306e\u3088\u3046\u306b\u63f6\u63c4\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u7a7a\u6e2f\u3067\u98db\u884c\u6a5f\u3092\u5f85\u3063\u3066\u3044\u308b\u6642\u306e\u3088\u3046\u306a\u3082\u306e\u3060\u3002\u521d\u3081\u306f7\u6642\u534a\u306b\u96e2\u9678\u3059\u308b\u3068\u8a00\u308f\u308c\u3066\u3044\u305f\u3002\u305d\u3057\u30668\u6642\u534a\u306b\u5909\u66f4\u3055\u308c\u308b\u3002\u66f4\u306b9\u6642\u534a\u306b\u5909\u66f4\u3055\u308c\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3046\u3044\u3046\u72b6\u6cc1\u3067\u306f\u5927\u62b511\u6642\u307e\u3067\u5f15\u304d\u4f38\u3070\u3055\u308c\u308b\u3060\u308d\u3046\u3002\u7d4c\u6e08\u4e88\u60f3\u3082\u540c\u3058\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u6bd4\u55a9\u306f\u3044\u3064\u3082\u7684\u78ba\u3060\u3002\u4e00\u65b9\u3067\u30a4\u30f3\u30d5\u30ec\u6025\u6e1b\u901f\u3067\u30a2\u30e1\u30ea\u30ab\u306e\u9577\u671f\u91d1\u5229\u306f\u4e0b\u304c\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\/12\/2022-12-4-us-10-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"406\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/12\/2022-12-4-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-31567\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/12\/2022-12-4-us-10-year-treasury-bond-yield-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/12\/2022-12-4-us-10-year-treasury-bond-yield-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u308c\u306b\u5b89\u5fc3\u3057\u3066\u682a\u5f0f\u5e02\u5834\u3082\u4e0a\u304c\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b5\u30de\u30fc\u30ba\u6c0f\u306b\u3088\u308c\u3070\u3001\u3053\u308c\u306f\u697d\u89b3\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002\u3082\u3046\u3059\u3050\u767a\u8868\u3055\u308c\u308b11\u6708\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u3069\u3046\u306a\u308b\u304b\u3067\u3042\u308b\u3002\u305d\u3061\u3089\u3082\u52ff\u8ad6\u5831\u3058\u308b\u306e\u3067\u3001\u697d\u3057\u307f\u306b\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/26936\" data-type=\"post\" data-id=\"26936\">\u30dd\u30b8\u30e3\u30fc\u30eb\u6c0f: 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