{"id":32697,"date":"2023-01-11T20:02:00","date_gmt":"2023-01-11T11:02:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=32697"},"modified":"2023-01-11T13:53:02","modified_gmt":"2023-01-11T04:53:02","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e6%99%af%e6%b0%97%e5%be%8c%e9%80%80%e5%be%8c%e3%81%ab%e7%b7%a9%e5%92%8c%e5%86%8d%e9%96%8b%e3%81%a7%e3%83%89%e3%83%ab%e6%9a%b4%e8%90%bd","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/32697","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u666f\u6c17\u5f8c\u9000\u5f8c\u306b\u7de9\u548c\u518d\u958b\u3067\u30c9\u30eb\u66b4\u843d\u3078"},"content":{"rendered":"\n<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u5148\u6708\u306e\u30aa\u30f3\u30e9\u30a4\u30f3\u30bb\u30df\u30ca\u30fc\u304c\u516c\u958b\u3055\u308c\u3066\u3044\u308b\u306e\u3067\u7d39\u4ecb\u3057\u3088\u3046\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4e0b\u843d\u30c8\u30ec\u30f3\u30c9\u3078<\/strong><\/p>\n\n\n\n<p>2022\u5e74\u7d42\u76e4\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u6025\u843d\u3092\u4e88\u60f3\u3057\u305f\u306e\u304c\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3068\u30b9\u30b3\u30c3\u30c8\u30fb\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306e2\u4eba\u3060\u3063\u305f\u3002\u50b5\u5238\u306e\u5c02\u9580\u5bb6\u306e\u9762\u76ee\u8e8d\u5982\u3067\u3042\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>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u307e\u305a\u4eca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u63a8\u79fb\u306b\u3064\u3044\u3066\u3001\u3053\u308c\u307e\u3067\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u8a71\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u7e70\u308a\u8fd4\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>\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4eca\u5f8c6\u30f6\u6708\u3067\u9593\u9055\u3044\u306a\u304f\u4e0b\u304c\u308b\u3002\u307b\u3068\u3093\u3069\u4e0d\u53ef\u907f\u3060\u3002CPI\uff08\u6d88\u8cbb\u8005\u7269\u4fa1\u6307\u6570\uff09\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u5e74\u592e\u306b\u306f7%\u53f0\u304b\u30894%\u53f0\u3001\u3082\u3057\u304b\u3059\u308b\u30684%\u4e01\u5ea6\u307e\u3067\u4e0b\u304c\u3063\u3066\u304f\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u305d\u308c\u304c\u308f\u308c\u308f\u308c\u306e\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3067\u306fGDP\u306b\u3064\u3044\u3066\u306f\u3069\u3046\u3060\u308d\u3046\u304b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\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>\u5229\u4e0a\u3052\u306e\u52b9\u679c\u3068\u3001\u50b5\u5238\u5e02\u5834\u304b\u3089\u8cc7\u91d1\u3092\u5438\u3044\u53d6\u3063\u3066\u3044\u308b\u91cf\u7684\u5f15\u304d\u7de0\u3081\u306e\u84c4\u7a4d\u3092\u8003\u3048\u308c\u3070\u30012023\u5e74\u306f\u6050\u3089\u304f\u666f\u6c17\u5f8c\u9000\u306e\u5e74\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u666f\u6c17\u5f8c\u9000\u5f8c\u306e\u7d4c\u6e08\u653f\u7b56<\/strong><\/p>\n\n\n\n<p>\u3053\u3053\u304b\u3089\u304c\u4eca\u56de\u306e\u672c\u984c\u3067\u3042\u308b\u3002\u3053\u306e\u30bb\u30df\u30ca\u30fc\u3067\u306f\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u666f\u6c17\u5f8c\u9000\u5f8c\u306e\u8a71\u306b\u8e0f\u307f\u8fbc\u3093\u3067\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u4eca\u306f\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u884c\u306a\u3063\u3066\u3044\u308bFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u3060\u304c\u30011970\u5e74\u4ee3\u306e\u7269\u4fa1\u9ad8\u9a30\u6642\u4ee3\u3067\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u672c\u5f53\u306b\u96e3\u3057\u3044\u306e\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4e0b\u304c\u308a\u59cb\u3081\u3066\u5931\u696d\u8005\u304c\u5897\u3048\u59cb\u3081\u3066\u304b\u3089\u3060\u3063\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27377\" data-type=\"post\" data-id=\"27377\">\u30dd\u30fc\u30eb\u30fb\u30dc\u30eb\u30ab\u30fc\u6c0f\u30011980\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u6253\u5012\u304c\u3069\u308c\u3060\u3051\u53b3\u3057\u304b\u3063\u305f\u304b\u3092\u8a9e\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>2023\u5e74\u3001\u7269\u4fa1\u9ad8\u9a30\u306e\u3042\u3068\u306b\u3088\u3046\u3084\u304f\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4e0b\u304c\u308a\u59cb\u3081\u3066\u3044\u308b\u300220\u4e16\u7d00\u306e\u5927\u7d4c\u6e08\u5b66\u8005\u30d5\u30ea\u30fc\u30c9\u30ea\u30d2\u30fb\u30d5\u30a9\u30f3\u30fb\u30cf\u30a4\u30a8\u30af\u6c0f\u306b\u3088\u308c\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u4e0b\u843d\u5f8c\u306e\u5931\u696d\u5897\u52a0\u306f\u907f\u3051\u3089\u308c\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31421\" data-type=\"post\" data-id=\"31421\">\u30cf\u30a4\u30a8\u30af: \u30a4\u30f3\u30d5\u30ec\u6e1b\u901f\u5f8c\u306e\u5931\u696d\u5897\u52a0\u306f\u907f\u3051\u3089\u308c\u306a\u3044<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u3057\u3066\u3044\u305a\u308c\u5931\u696d\u8005\u304c\u9ad8\u91d1\u5229\u3092\u7dad\u6301\u3059\u308b\u4e2d\u592e\u9280\u884c\u306b\u5bfe\u3057\u3066\u6028\u55df\u306e\u58f0\u3092\u4e0a\u3052\u59cb\u3081\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u4f8b\u3048\u3070\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306e\u3088\u3046\u306b\u3001\u8457\u540d\u6295\u8cc7\u5bb6\u306e\u4e2d\u306b\u306f\u666f\u6c17\u5f8c\u9000\u5f8c\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306e\u6301\u7d9a\u3092\u7591\u3046\u58f0\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30291\" data-type=\"post\" data-id=\"30291\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u7d4c\u6e08\u304c\u5f37\u3044\u6642\u306b\u5f15\u304d\u7de0\u3081\u3092\u7d9a\u3051\u308b\u306e\u306f\u7c21\u5358\u3060\u304c<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3053\u306e\u8ad6\u70b9\u306b\u3064\u3044\u3066\u30a4\u30f3\u30d5\u30ec\u6025\u6e1b\u901f\u3092\u7684\u4e2d\u3055\u305b\u305f\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3069\u3046\u8003\u3048\u3066\u3044\u308b\u306e\u3060\u308d\u3046\u304b\u3002\u5f7c\u306f\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\">\n<p>1\u3064\u78ba\u304b\u306b\u601d\u3048\u308b\u3053\u3068\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u3067\u3042\u308c\u4ed6\u306e\u5148\u9032\u56fd\u3067\u3042\u308c\u3001\u7d4c\u6e08\u304c\u5f31\u307e\u3063\u305f\u5834\u5408\u306e\u4e2d\u592e\u9280\u884c\u306e\u53cd\u5fdc\u306f\u3001\u3053\u308c\u307e\u306720\u5e74\u306e\u9593\u306b\u5f7c\u3089\u304c\u3084\u3063\u3066\u304d\u305f\u3053\u3068\u3068\u540c\u3058\u3084\u308a\u65b9\u306b\u306a\u308b\u3060\u308d\u3046\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p>\u3064\u307e\u308a\u5f7c\u3089\u306f\u7d19\u5e63\u3092\u3070\u3089\u6492\u304d\u3001\u653f\u5e9c\u306f\u8ca1\u653f\u523a\u6fc0\u3092\u884c\u306a\u3063\u3066\u653f\u5e9c\u50b5\u52d9\u3092\u5897\u3084\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u5fc5\u6b7b\u306b\u300c\u30a4\u30f3\u30d5\u30ec\u6253\u5012\u3092\u3084\u308a\u5207\u308b\u300d\u3068\u8a00\u3063\u3066\u3044\u308b\u306e\u306b\u3001\u5f7c\u306e\u8a00\u8449\u3092\u4fe1\u3058\u308b\u5c02\u9580\u5bb6\u306f\u591a\u304f\u306a\u3044\u3088\u3046\u3060\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31862\" data-type=\"post\" data-id=\"31862\">12\u6708FOMC\u4f1a\u5408\u7d50\u679c: \u307e\u3059\u307e\u3059\u66d6\u6627\u306b\u306a\u308b\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u3001\u91d1\u5229\u306f\u30a4\u30f3\u30d5\u30ec\u6b21\u7b2c\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u306f\u6b62\u3081\u3089\u308c\u306a\u3044\u306e\u304b<\/strong><\/p>\n\n\n\n<p>\u3042\u308b\u7a0b\u5ea6\u307e\u3068\u3082\u306a\u982d\u3092\u6301\u3063\u3066\u3044\u308b\u4eba\u306a\u3089\u3070\u4eca\u3084\u8ab0\u3067\u3082\u77e5\u3063\u3066\u3044\u308b\u3088\u3046\u306b\u3001\u73fe\u5728\u306e\u7269\u4fa1\u9ad8\u9a30\u306f\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u878d\u7de9\u548c\u3068\u73fe\u91d1\u7d66\u4ed8\u304c\u3082\u305f\u3089\u3057\u305f\u3082\u306e\u3067\u3042\u308a\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3068\u306f\u307b\u307c\u7121\u95a2\u4fc2\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30188\" data-type=\"post\" data-id=\"30188\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u30d7\u30fc\u30c1\u30f3\u6c0f\u304c\u5f15\u304d\u8d77\u3053\u3057\u305f\u308f\u3051\u3067\u306f\u306a\u3044\u30a4\u30f3\u30d5\u30ec\u306e\u672c\u5f53\u306e\u7406\u7531<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u4eba\u3005\u306f\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u3063\u305f\u5f8c\u3082\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u3092\u671b\u3093\u3067\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/16682\" data-type=\"post\" data-id=\"16682\">\u30d5\u30e9\u30f3\u30b9\u3001\u30a4\u30f3\u30d5\u30ec\u5bfe\u7b56\u3067\u73fe\u91d1\u7d66\u4ed8\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u4f55\u6545\u306a\u306e\u304b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\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>\u3053\u3046\u3044\u3046\u60aa\u7656\u3092\u4e00\u5ea6\u59cb\u3081\u308b\u3068\u6b62\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u306a\u3044\u3002\u7d4c\u6e08\u306b\u554f\u984c\u304c\u751f\u3058\u308b\u305f\u3073\u306b\u7a74\u3092\u3088\u308a\u6df1\u304f\u6398\u308b\u3088\u3046\u306b\u306a\u308a\u3001\u554f\u984c\u306f\u3069\u3093\u3069\u3093\u5927\u304d\u304f\u306a\u3063\u3066\u3086\u304f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u666f\u6c17\u5f8c\u9000\u304c\u8d77\u3053\u308a\u3001\u7d19\u5e63\u3092\u3070\u3089\u6492\u304f\u3002\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u308b\u3002\u7d4c\u6e08\u306f\u4e00\u6642\u7684\u306b\u56de\u5fa9\u3059\u308b\u304c\u3001\u9ebb\u85ac\u304c\u5207\u308c\u3066\u304f\u308b\u3068\u7d4c\u6e08\u306f\u307e\u305f\u9177\u3044\u3053\u3068\u306b\u306a\u308b\u3002\u305d\u3057\u3066\u66f4\u306b\u591a\u304f\u306e\u9ebb\u85ac\u3092\u6b32\u3059\u308b\u3088\u3046\u306b\u306a\u308b\u3002\u72ac\u3067\u3055\u3048\u3082\u81ea\u5206\u306e\u5c3b\u5c3e\u3092\u8ffd\u3044\u304b\u3051\u56de\u3059\u306e\u306b\u306f\u6570\u5206\u3067\u98fd\u304d\u308b\u3060\u308d\u3046\u306b\u3001\u6b8b\u5ff5\u306a\u304c\u3089\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u3084MMT\u3092\u652f\u6301\u3057\u305f\u4eba\u3005\u306e\u982d\u306f\u72ac\u307b\u3069\u8ce2\u304f\u306f\u306a\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>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u73fe\u72b6\u306e\u7570\u5e38\u3055\u3092\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\">\n<p>\u4eca\u3001\u8ca1\u653f\u8d64\u5b57\u306fGDP\u306e4%\u307e\u3067\u4e0b\u304c\u3063\u3066\u304a\u308a\u3001Fed\u306e\u640d\u5931\u3084\u91d1\u5229\u4e0a\u6607\u3001\u666f\u6c17\u5f8c\u9000\u3067\u3053\u308c\u304b\u3089\u4e0a\u304c\u308b\u3060\u308d\u3046\u304c\u3001\u3044\u305a\u308c\u306b\u3057\u3066\u3082\u5931\u696d\u7387\u304c\u3053\u308c\u307b\u3069\u4f4e\u3044\u72b6\u614b\u3067\u8ca1\u653f\u8d64\u5b57\u304c\u3053\u308c\u307b\u3069\u306e\u6c34\u6e96\u306b\u306a\u3063\u305f\u3053\u3068\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u8ca1\u653f\u8d64\u5b57\u306e\u6c34\u6e96\u306f\u3001\u901a\u5e38\u306a\u3089\u3070\u666f\u6c17\u5f8c\u9000\u306b\u5bfe\u5fdc\u3057\u305f\u5f8c\u306e\u6c34\u6e96\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u306f\u30b3\u30ed\u30ca\u521d\u5e74\u306e2020\u5e74\u306b\u306fGDP\u306e15%\u306b\u9054\u3057\u305f\u3002\u305d\u306e\u591a\u304f\u306f\u73fe\u91d1\u7d66\u4ed8\u306b\u4f7f\u308f\u308c\u305f\u3002\u305d\u308c\u3060\u3051\u306e\u8cc7\u91d1\u304c\u3070\u3089\u6492\u304b\u308c\u305f\u306e\u3060\u304b\u3089\u3001\u7269\u4fa1\u304c\u9ad8\u9a30\u3057\u306a\u3044\u306f\u305a\u304c\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u8ca1\u653f\u8d64\u5b57\u306f2022\u5e74\u306f4%\u306b\u306a\u308b\u3068\u4e88\u60f3\u3055\u308c\u3066\u3044\u308b\u304c\u3001\u3053\u306e\u6c34\u6e96\u3067\u3055\u3048\u3082\u666e\u901a\u306a\u3089\u3070\u666f\u6c17\u5f8c\u9000\u5f8c\u306e\u8ca1\u653f\u652f\u51fa\u3092\u884c\u3063\u305f\u5834\u5408\u306e\u6c34\u6e96\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306eGDP\u6bd4\u8ca1\u653f\u53ce\u652f\u306e\u30b0\u30e9\u30d5\u3092\u63b2\u8f09\u3057\u3066\u307f\u308b\u3068\u3001\u305d\u308c\u306f\u3082\u3046\u9177\u3044\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2021-us-budget-surpplus-to-gdp-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2021-us-budget-surpplus-to-gdp-chart.png\" alt=\"\" class=\"wp-image-32713\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2021-us-budget-surpplus-to-gdp-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2021-us-budget-surpplus-to-gdp-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u666f\u6c17\u5f8c\u9000\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3078<\/strong><\/p>\n\n\n\n<p>\u3053\u308c\u304b\u3089\u3069\u3046\u306a\u308b\u3060\u308d\u3046\u304b\u30022023\u5e74\u306e\u666f\u6c17\u5f8c\u9000\u5f8c\u306b\u653f\u5e9c\u3068\u4e2d\u592e\u9280\u884c\u304c\u7de9\u548c\u306b\u8ee2\u3058\u308b\u3068\u8003\u3048\u3066\u3044\u308b\u8ad6\u8005\u306f\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3060\u3051\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/29942\" data-type=\"post\" data-id=\"29942\">\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f: \u666f\u6c17\u5f8c\u9000\u3067\u7d19\u5e63\u5370\u5237\u518d\u958b\u3001\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u5f7c\u3089\u306e\u4e88\u60f3\u901a\u308a\u653f\u5e9c\u3068\u4e2d\u592e\u9280\u884c\u304c\u518d\u3073\u3070\u3089\u6492\u304d\u3092\u884c\u306a\u3044\u3001\u3057\u304b\u3082\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u8a00\u3046\u3088\u3046\u306b\u8ca1\u653f\u8d64\u5b57\u304c\u307e\u3059\u307e\u3059\u9177\u304f\u306a\u308b\u306e\u3067\u3042\u308c\u3070\u3001\u305d\u306e\u7d50\u672b\u306f\u3069\u306e\u3088\u3046\u306b\u306a\u308b\u306e\u304b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u4e88\u60f3\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>\u6b21\u306e\u666f\u6c17\u5f8c\u9000\u3067\u306f\u3001\u8ca1\u653f\u523a\u6fc0\u3068\u91d1\u878d\u7de9\u548c\u304c\u30c9\u30eb\u3092\u4e0b\u843d\u3055\u305b\u3001\u975e\u5e38\u306b\u6fc0\u3057\u3044\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u308b\u3060\u308d\u3046\u3002\u666f\u6c17\u5f8c\u9000\u306b\u5165\u308d\u3046\u3068\u3059\u308b\u4e2d\u3067\u3001\u591a\u304f\u306e\u4eba\u306b\u306f\u76f4\u611f\u306b\u53cd\u3059\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u304c\u30a4\u30f3\u30d5\u30ec\u9000\u6cbb\u3092\u3084\u308a\u629c\u304f\u3068\u5ba3\u8a00\u3057\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u5c02\u9580\u5bb6\u306e\u9593\u3067\u306f\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u304c\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3068\u306a\u3063\u3066\u304d\u3066\u3044\u308b\u3088\u3046\u3060\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<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>\n<\/ul>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u3053\u306e\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u30b7\u30ca\u30ea\u30aa\u306f\u3001\u7b46\u8005\u304c\u5f7c\u3089\u5c02\u9580\u5bb6\u3088\u308a\u3082\u65e9\u304f2021\u5e74\u306b\u63d0\u5531\u3057\u305f\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/17958\" data-type=\"post\" data-id=\"17958\">\u73fe\u5728\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u7269\u4fa1\u9ad8\u9a30\u306f\u30a4\u30f3\u30d5\u30ec\u7b2c1\u6ce2\u306b\u904e\u304e\u306a\u3044 (2021\/12\/6)<\/a><\/li>\n<\/ul>\n\n\n\n<p>2021\u5e74\u306b\u306f\u4e16\u9593\u306e\u4eba\u3005\u306f\u305d\u3082\u305d\u3082\u30a4\u30f3\u30d5\u30ec\u306b\u3064\u3044\u3066\u4f55\u3082\u8003\u3048\u3066\u3044\u306a\u304b\u3063\u305f\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u3060\u304c2023\u5e74\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4e0b\u304c\u308a\u59cb\u3081\u3001\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u306b\u3064\u3044\u3066\u8a9e\u308a\u59cb\u3081\u308b\u6642\u671f\u304c\u6765\u3066\u3044\u308b\u3088\u3046\u3067\u3042\u308b\u3002\u305d\u3057\u30662023\u5e74\u4ee5\u964d\u306e\u30c9\u30eb\u306e\u898b\u901a\u3057\u306f\u3084\u306f\u308a\u9177\u3044\u3088\u3046\u3060\u3002\u7b46\u8005\u306e\u30c9\u30eb\u5186\u4e88\u60f3\u3082\u4e00\u7dd2\u306b\u53c2\u8003\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\/32025\" data-type=\"post\" data-id=\"32025\">\u65e5\u9280\u306e\u9577\u671f\u91d1\u5229\u306e\u5b9f\u8cea\u5229\u4e0a\u3052\u3092\u53d7\u3051\u3066\u30c9\u30eb\u5186\u306e\u7a7a\u58f2\u308a\u3092\u958b\u59cb<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11762\" data-type=\"post\" data-id=\"11762\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u30c9\u30eb\u304c\u4e0b\u843d\u3057\u305f\u3089\u30a2\u30e1\u30ea\u30ab\u306f\u7d42\u308f\u308a<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u5148\u6708\u306e\u30aa\u30f3\u30e9\u30a4\u30f3\u30bb\u30df\u30ca\u30fc\u304c\u516c\u958b\u3055\u308c\u3066\u3044\u308b\u306e\u3067\u7d39\u4ecb\u3057\u3088\u3046\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-32697","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\/32697","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=32697"}],"version-history":[{"count":24,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/32697\/revisions"}],"predecessor-version":[{"id":32723,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/32697\/revisions\/32723"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=32697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=32697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=32697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}