{"id":32161,"date":"2022-12-24T20:08:08","date_gmt":"2022-12-24T11:08:08","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=32161"},"modified":"2022-12-24T20:08:09","modified_gmt":"2022-12-24T11:08:09","slug":"%e3%83%9e%e3%82%a4%e3%83%8a%e3%83%bc%e3%83%89%e6%b0%8f%e3%81%ae%e3%83%87%e3%83%95%e3%83%ac%e4%ba%88%e6%83%b3-%e3%82%a4%e3%83%b3%e3%83%95%e3%83%ac%e3%81%af%e6%8a%91%e5%88%b6%e3%81%95%e3%82%8c%e6%a0%aa","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/32161","title":{"rendered":"\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306e\u30c7\u30d5\u30ec\u4e88\u60f3: \u30a4\u30f3\u30d5\u30ec\u306f\u6291\u5236\u3055\u308c\u682a\u4fa1\u306f\u4e0b\u843d\u3057\u91d1\u5229\u306f\u4f4e\u4e0b\u3059\u308b"},"content":{"rendered":"\n<p>\u4eca\u56de\u7d39\u4ecb\u3059\u308b\u306e\u306f\u300112\u670821\u65e5\u306b\u7a81\u5982\u5fc3\u81d3\u767a\u4f5c\u3067\u4ea1\u304f\u306a\u3063\u305fGuggenheim Partners\u306e\u30b9\u30b3\u30c3\u30c8\u30fb\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u304c\u81ea\u793e\u30dd\u30c3\u30c9\u30ad\u30e3\u30b9\u30c8\u306b\u4e0a\u3052\u3066\u3044\u305f\u6700\u5f8c\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/32088\" data-type=\"post\" data-id=\"32088\">\u30b9\u30b3\u30c3\u30c8\u30fb\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u3001\u5fc3\u81d3\u767a\u4f5c\u3067\u6b7b\u53bb\u300063\u6b73<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u9577\u3044\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3060\u304c\u3001\u307e\u305a\u306f\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u304c\u4eca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u63a8\u79fb\u3068\u682a\u5f0f\u5e02\u5834\u3001\u50b5\u5238\u91d1\u5229\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u90e8\u5206\u3092\u7d39\u4ecb\u3057\u3088\u3046\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u878d\u5f15\u304d\u7de0\u3081<\/strong><\/p>\n\n\n\n<p>Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u6291\u5236\u3067\u304d\u308b\u306e\u304b\u3069\u3046\u304b\u3068\u3044\u3046\u3053\u3068\u304c\u3001\u3053\u3053\u534a\u5e74\u307b\u3069\u306e\u91d1\u878d\u5e02\u5834\u306b\u304a\u3051\u308b\u6700\u5927\u306e\u30c6\u30fc\u30de\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u30c6\u30fc\u30de\u306b\u3064\u3044\u3066\u3001\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306f\u307e\u305a\u6b21\u306e\u3088\u3046\u306b\u59cb\u3081\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>\u307e\u305a\u306f\u3044\u3064\u3082\u306e\u3088\u3046\u306b\u30df\u30eb\u30c8\u30f3\u30fb\u30d5\u30ea\u30fc\u30c9\u30de\u30f3\u306e\u683c\u8a00\u304b\u3089\u59cb\u3081\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002\u300c\u30a4\u30f3\u30d5\u30ec\u306f\u3044\u3064\u3067\u3082\u4f55\u51e6\u3067\u3082\u8ca8\u5e63\u73fe\u8c61\u3060\u300d\u3068\u3044\u3046\u3082\u306e\u3060\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u610f\u5473\u3059\u308b\u3068\u3053\u308d\u3092\u7c21\u5358\u306b\u8a00\u3048\u3070\u3001\u7d19\u5e63\u3092\u5370\u5237\u3057\u904e\u304e\u308b\u3068\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u308b\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30d5\u30ea\u30fc\u30c9\u30de\u30f3\u6c0f\u306f\u30de\u30cd\u30bf\u30ea\u30b9\u30c8\u3068\u3057\u3066\u77e5\u3089\u308c\u308b\u30de\u30af\u30ed\u7d4c\u6e08\u5b66\u8005\u3060\u304c\u3001\u540c\u3058\u304f\u30de\u30cd\u30bf\u30ea\u30b9\u30c8\u3068\u3057\u3066\u6271\u308f\u308c\u308b\u30d5\u30ea\u30fc\u30c9\u30ea\u30d2\u30fb\u30d5\u30a9\u30f3\u30fb\u30cf\u30a4\u30a8\u30af\u6c0f\u306f\u300c\u7d19\u5e63\u3092\u3069\u308c\u3060\u3051\u3070\u3089\u6492\u3044\u3066\u3082\u30cf\u30a4\u30d1\u30fc\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u3089\u306a\u3044\u3068\u3044\u3046\u30b1\u30a4\u30f3\u30ba\u306e\u8aa4\u3063\u305f\u8ad6\u8aac\u3092\u5426\u5b9a\u3059\u308b\u8005\u306f\u5168\u54e1\u5341\u628a\u4e00\u7d61\u3052\u306b\u30de\u30cd\u30bf\u30ea\u30b9\u30c8\u3068\u3057\u3066\u6271\u308f\u308c\u308b\u300d\u3068\u4e0d\u5e73\u3092\u8a00\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\/31597\" data-type=\"post\" data-id=\"31597\">\u30cf\u30a4\u30a8\u30af: \u7de9\u3084\u304b\u306a\u30a4\u30f3\u30d5\u30ec\u304c\u6709\u76ca\u3067\u3042\u308b\u3068\u3044\u3046\u5e7b\u60f3<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3064\u307e\u308a\u300c\u7d19\u5e63\u3092\u3070\u3089\u6492\u3051\u3070\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u308b\u300d\u3068\u3044\u3046\u5f53\u305f\u308a\u524d\u306e\u7d4c\u6e08\u5b66\u7684\u4e8b\u5b9f\u3092\u8a8d\u8b58\u3059\u308b\u4eba\u9593\u306f\u5168\u54e1\u30de\u30cd\u30bf\u30ea\u30b9\u30c8\u306a\u306e\u3067\u3001\u30de\u30cd\u30bf\u30ea\u30b9\u30c8\u3068\u306f\u7d4c\u6e08\u5b66\u8005\u3068\u3044\u3046\u610f\u5473\u3089\u3057\u3044\u304c\u3001\u30de\u30a4\u30ca\u30fc\u30c9\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\">\n<p>\u30b3\u30ed\u30ca\u4ee5\u6765\u3082\u3046\u6570\u5e74\u306e\u9593\u3001\u5927\u898f\u6a21\u306a\u7d19\u5e63\u5370\u5237\u304c\u884c\u308f\u308c\u3066\u304d\u305f\u304c\u3001\u4eca\u3084Fed\u306f\u6050\u3089\u304f\u81ea\u5206\u305f\u3061\u304c\u3084\u308a\u904e\u304e\u305f\u306e\u3060\u3068\u3044\u3046\u4e8b\u5b9f\u306b\u76f4\u9762\u3057\u3066\u3044\u308b\u3002\u3060\u304b\u3089\u4eca\u3084\u65b9\u5411\u8ee2\u63db\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u5f15\u304d\u7de0\u3081\u306f\u3084\u308a\u904e\u304e\u304b\uff1f<\/strong><\/p>\n\n\n\n<p>\u4e2d\u592e\u9280\u884c\u3068\u653f\u5e9c\u306f\u7de9\u548c\u3092\u3084\u308a\u904e\u304e\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u3067Fed\u304c\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u958b\u59cb\u3057\u3066\u304b\u3089\u3082\u30461\u5e74\u307b\u3069\u306b\u306a\u308b\u3002\u305d\u306e\u9593\u306b\u682a\u4fa1\u306f\u4e0b\u304c\u308a\u3001\u50b5\u5238\u3082\u4e0b\u843d\u3057\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u3067\u3055\u3048\u3082\u9042\u306b\u6025\u6e1b\u901f\u3092\u59cb\u3081\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31823\" data-type=\"post\" data-id=\"31823\">11\u6708\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u6025\u6e1b\u901f\u7d99\u7d9a\u30677.1%\u3001\u30c9\u30eb\u5b89\u52a0\u901f\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306e\u73fe\u5728\u306e\u61f8\u5ff5\u306f\u6b21\u306e\u901a\u308a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u91cd\u8981\u306a\u554f\u984c\u306f\u3082\u3061\u308d\u3093\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u6e1b\u901f\u3055\u305b\u308b\u305f\u3081\u306b\u5341\u5206\u5f15\u304d\u7de0\u3081\u7684\u306b\u306a\u3063\u305f\u304b\u3069\u3046\u304b\u3001\u5f15\u304d\u7de0\u3081\u3092\u3084\u308a\u904e\u304e\u3066\u3044\u306a\u3044\u304b\u3069\u3046\u304b\u3092\u3069\u3046\u3084\u3063\u3066\u77e5\u308b\u3053\u3068\u304c\u51fa\u6765\u308b\u304b\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u3068\u3001\u540c\u3058\u304f\u50b5\u5238\u306e\u5c02\u9580\u5bb6\u3067\u3042\u308b\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u6e1b\u901f\u524d\u304b\u3089Fed\u304c\u5f15\u304d\u7de0\u3081\u3092\u3084\u308a\u904e\u304e\u3066\u3044\u308b\u53ef\u80fd\u6027\u3092\u6307\u6458\u3057\u3066\u304d\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<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 (2022\/9\/9)<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u3057\u30662\u4eba\u306f\u6b63\u3057\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306fFed\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306e\u3046\u3061\u3001\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3092\u7e2e\u5c0f\u3059\u308b\u91cf\u7684\u5f15\u304d\u7de0\u3081\u306e\u65b9\u306b\u30d5\u30a9\u30fc\u30ab\u30b9\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>Fed\u306f\u5fc5\u8981\u4ee5\u4e0a\u306b\u4e8b\u614b\u3092\u96e3\u3057\u304f\u3057\u3066\u3044\u308b\u3002\u5f7c\u3089\u306f\u5229\u4e0a\u3052\u3068\u540c\u6642\u306b\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306e\u7e2e\u5c0f\u3092\u3084\u3063\u3066\u3044\u308b\u3002\u305d\u308c\u306f\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u306e\u3088\u3046\u306b\u6642\u9593\u5dee\u3067\u5b9f\u4f53\u7d4c\u6e08\u306b\u4f5c\u7528\u3059\u308b\u8981\u7d20\u306b\u5927\u304d\u306a\u4e0b\u65b9\u5727\u529b\u3092\u52a0\u3048\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u3068\u306f\u3001\u5927\u307e\u304b\u306b\u8a00\u3048\u3070\u7d4c\u6e08\u306e\u4e2d\u306b\u5b58\u5728\u3059\u308b\u73fe\u91d1\u306e\u7dcf\u91cf\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3082\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3001\u91cf\u7684\u5f15\u304d\u7de0\u3081\u306b\u3064\u3044\u3066\u8b66\u544a\u3057\u3066\u3044\u305f\u3053\u3068\u3092\u601d\u3044\u51fa\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30390\" data-type=\"post\" data-id=\"30390\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a4\u30f3\u30d5\u30ec\u7387\u306f\u6765\u5e74\u534a\u3070\u307e\u3067\u306b4.5%\u307e\u3067\u4e0b\u304c\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u91cf\u7684\u5f15\u304d\u7de0\u3081\u3082\u7d4c\u6e08\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u30022018\u5e7412\u6708\u3001Fed\u306f\u5229\u4e0a\u3052\u3068\u91cf\u7684\u5f15\u304d\u7de0\u3081\u306e\u4e21\u65b9\u3092\u81ea\u52d5\u64cd\u7e26\u3067\u884c\u306a\u3044\u3001\u3059\u3050\u306b\u64a4\u56de\u305b\u3056\u308b\u3092\u5f97\u306a\u304f\u306a\u3063\u305f\u3002\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u305d\u306e\u4e8b\u5b9f\u3092\u898b\u9003\u3057\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u304c\u6307\u6458\u3057\u3066\u3044\u308b\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u304c\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u304b\u3068\u8a00\u3048\u3070\u3001\u5b9f\u8cea\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u306e\u5909\u5316\u7387\u306f-6%\u3068\u306a\u3063\u3066\u304a\u308a\u30011970\u5e74\u4ee3\u306e\u7269\u4fa1\u9ad8\u9a30\u6642\u4ee3\u306e\u6e1b\u5c11\u7387\u306e\u30d4\u30fc\u30af\u306b\u8fd1\u3044\u6c34\u6e96\u3068\u306a\u3063\u3066\u3044\u308b\u3002\u9577\u671f\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\/12\/2022-oct-us-real-m2-money-supply-growth-long-term-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"466\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/12\/2022-oct-us-real-m2-money-supply-growth-long-term-chart.png\" alt=\"\" class=\"wp-image-32188\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/12\/2022-oct-us-real-m2-money-supply-growth-long-term-chart.png 466w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/12\/2022-oct-us-real-m2-money-supply-growth-long-term-chart-300x300.png 300w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/12\/2022-oct-us-real-m2-money-supply-growth-long-term-chart-150x150.png 150w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/12\/2022-oct-us-real-m2-money-supply-growth-long-term-chart-120x120.png 120w\" sizes=\"auto, (max-width: 466px) 100vw, 466px\" \/><\/a><\/figure>\n\n\n\n<p>\u540c\u6642\u306b2020\u5e74\u30682021\u5e74\u306e\u73fe\u91d1\u7d66\u4ed8\u304c\u3069\u308c\u3060\u3051\u7d4c\u6e08\u306b\u73fe\u91d1\u3092\u6492\u304d\u6563\u3089\u3057\u305f\u304b\u3082\u78ba\u8a8d\u3057\u3066\u307b\u3057\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/19942\" data-type=\"post\" data-id=\"19942\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u30a4\u30f3\u30d5\u30ec\u306b\u306a\u3063\u3066\u9a5a\u3044\u3066\u3044\u308b\u30ea\u30d5\u30ec\u6d3e\u306f\u99ac\u9e7f\u3058\u3083\u306a\u3044\u306e\u304b<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u4eca\u5f8c\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081<\/strong><\/p>\n\n\n\n<p>\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u3092\u898b\u308c\u3070\u3001\u30b3\u30ed\u30ca\u5f8c\u306b\u904e\u5ea6\u306b\u7de9\u548c\u7684\u306b\u306a\u3063\u305f\u91d1\u878d\u72b6\u6cc1\u304c\u3001\u4eca\u3084\u304b\u306a\u308a\u5f15\u304d\u7de0\u3081\u7684\u306b\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<p>\u4eca\u5f8c\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u878d\u653f\u7b56\u306f\u3069\u3046\u306a\u3063\u3066\u3086\u304f\u3060\u308d\u3046\u304b\u3002\u30de\u30a4\u30ca\u30fc\u30c9\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>Fed\u304c\u524d\u56de\u306e\u4f1a\u5408\u30670.75%\u306e\u5229\u4e0a\u3052\u306f\u6700\u5f8c\u306b\u3059\u308b\u3068\u8a00\u3044\u3001\u4eca\u5f8c\u306e\u5229\u4e0a\u3052\u306f\u30de\u30af\u30ed\u7d4c\u6e08\u306e\u72b6\u6cc1\u6b21\u7b2c\u3060\u3068\u8a00\u3063\u305f\u3053\u3068\u306f\u6b63\u3057\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u4e00\u65b9\u3067\u3001Fed\u306f\u3082\u3046\u65e2\u306b\u3084\u308a\u904e\u304e\u3066\u306f\u3044\u306a\u3044\u306e\u3060\u308d\u3046\u304b\u3002\u305d\u308c\u306f\u4f4f\u5b85\u5e02\u5834\u3084\u6d88\u8cbb\u6d3b\u52d5\u306a\u3069\u306e\u3042\u3089\u3086\u308b\u30c7\u30fc\u30bf\u306b\u8868\u308c\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4f4f\u5b85\u4fa1\u683c\u304c\u4e0b\u843d\u30c8\u30ec\u30f3\u30c9\u306b\u5165\u3063\u3066\u3044\u308b\u3053\u3068\u306f\u5831\u3058\u3066\u3044\u308b\u901a\u308a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31456\" data-type=\"post\" data-id=\"31456\">9\u6708\u7c73\u4f4f\u5b85\u4fa1\u683c\u306f\u4e0b\u843d\u7d99\u7d9a\u3001\u30a4\u30f3\u30d5\u30ec\u6e1b\u901f\u304c\u660e\u767d\u306b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3067\u6c88\u3093\u3067\u3086\u304f\u306e\u3060\u308d\u3046\u304b\u3002\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u7b54\u3048\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u7d4c\u6e08\u306f\u3082\u3046\u666f\u6c17\u5f8c\u9000\u5165\u308a\u3057\u3066\u3044\u308b\u306e\u304b\u3068\u805e\u304b\u308c\u308b\u306a\u3089\u3070\u3001\u591a\u5206\u305d\u3046\u3060\u3068\u601d\u3046\u3068\u3044\u3046\u306e\u304c\u7b54\u3048\u3060\u3002<\/p>\n\n\n\n<p>\u7d4c\u6e08\u72b6\u6cc1\u306fFed\u306e\u8a8d\u8b58\u3088\u308a\u3082\u304b\u306a\u308a\u60aa\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u5e02\u5834\u306b\u306f\u307e\u3060\u591a\u304f\u306e\u30a2\u30cb\u30de\u30eb\u30b9\u30d4\u30ea\u30c3\u30c8\u304c\u3042\u308a\u3001\u591a\u304f\u306e\u73fe\u91d1\u304c\u5f85\u6a5f\u3057\u3066\u3044\u308b\u3002\u305d\u308c\u306f\u682a\u5f0f\u5e02\u5834\u306b\u4fb5\u5165\u3057\u3066\u3044\u308b\u304c\u3001\u4e00\u65e6\u305d\u308c\u304c\u67af\u6e07\u3059\u308c\u3070\u682a\u4fa1\u306f\u4e0b\u843d\u3057\u3001\u6050\u3089\u304f\u50b5\u5238\u306e\u91d1\u5229\u3082\u4e0b\u304c\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30de\u30a4\u30ca\u30fc\u30c9\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\">\n<p>Fed\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u4e0b\u3052\u308b\u3053\u3068\u306b\u6210\u529f\u3057\u3066\u3044\u308b\u3002\u3060\u304c\u6050\u3089\u304f\u3084\u308a\u904e\u304e\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u4f4e\u4e0b\u3001\u666f\u6c17\u5f8c\u9000\u3001\u682a\u4fa1\u4e0b\u843d\u3001\u91d1\u5229\u4f4e\u4e0b\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002\u8981\u3059\u308b\u306b\u30c7\u30d5\u30ec\u4e88\u60f3\u3067\u3042\u308a\u3001\u7b46\u8005\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3082\u73fe\u5728\u540c\u3058\u8ced\u3051\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31913\" data-type=\"post\" data-id=\"31913\">\u30a2\u30e1\u30ea\u30ab\u306f2\u5e74\u4ee5\u5185\u306b\u5229\u4e0b\u3052\u3059\u308b\u30012\u5e74\u7269\u56fd\u50b5\u306e\u8cb7\u3044\u958b\u59cb<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31962\" data-type=\"post\" data-id=\"31962\">\u30b4\u30fc\u30eb\u30c9\u306e\u8cb7\u3044\u3092\u5229\u76ca\u78ba\u5b9a\u30012\u5e74\u7269\u7c73\u56fd\u50b5\u306e\u8cb7\u3044\u306b\u96c6\u4e2d<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306e\u682a\u4fa1\u4e88\u60f3\u306b\u3064\u3044\u3066\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u306b\u8a73\u7d30\u304c\u66f8\u3044\u3066\u3042\u308b\u306e\u3067\u3001\u305d\u3061\u3089\u3082\u53c2\u8003\u306b\u3057\u3066\u307b\u3057\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/32062\" data-type=\"post\" data-id=\"32062\">\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306e\u7c73\u56fd\u682a\u306e\u63a8\u79fb\u4e88\u60f3: \u5229\u76ca\u3068\u682a\u4fa1\u53ce\u76ca\u7387\u306e\u4e0b\u843d\u30672023\u5e74\u306f\u66b4\u843d\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u5f7c\u306e\u6700\u5f8c\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u306f\u6bd4\u8f03\u7684\u9577\u304f\u3001\u307e\u3060\u7d39\u4ecb\u3059\u308b\u5185\u5bb9\u304c\u3042\u308b\u306e\u3067\u300121\u65e5\u306b\u4ea1\u304f\u306a\u3063\u305f\u5f7c\u306e\u58f0\u3092\u3082\u3046\u5c11\u3057\u3060\u3051\u805e\u304f\u3053\u3068\u304c\u3067\u304d\u308b\u3002\u5f7c\u306e\u6700\u5f8c\u306e\u4e88\u60f3\u306f\u5f53\u305f\u308b\u3060\u308d\u3046\u304b\u3002\u697d\u3057\u307f\u306b\u3057\u305f\u3044\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4eca\u56de\u7d39\u4ecb\u3059\u308b\u306e\u306f\u300112\u670821\u65e5\u306b\u7a81\u5982\u5fc3\u81d3\u767a\u4f5c\u3067\u4ea1\u304f\u306a\u3063\u305fGuggenheim Partners\u306e\u30b9\u30b3\u30c3\u30c8\u30fb\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u304c\u81ea\u793e\u30dd\u30c3\u30c9\u30ad\u30e3\u30b9\u30c8\u306b\u4e0a\u3052\u3066\u3044\u305f\u6700\u5f8c\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\u308b\u3002 \u9577\u3044\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3060\u304c\u3001\u307e\u305a\u306f\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u304c &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/32161\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306e\u30c7\u30d5\u30ec\u4e88\u60f3: \u30a4\u30f3\u30d5\u30ec\u306f\u6291\u5236\u3055\u308c\u682a\u4fa1\u306f\u4e0b\u843d\u3057\u91d1\u5229\u306f\u4f4e\u4e0b\u3059\u308b<\/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":[118,108],"tags":[167,168],"class_list":["post-32161","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets","tag-inflation","tag-scott-minerd"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/32161","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=32161"}],"version-history":[{"count":42,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/32161\/revisions"}],"predecessor-version":[{"id":32204,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/32161\/revisions\/32204"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=32161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=32161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=32161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}