{"id":33039,"date":"2023-01-25T20:03:00","date_gmt":"2023-01-25T11:03:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=33039"},"modified":"2023-01-25T18:37:43","modified_gmt":"2023-01-25T09:37:43","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e3%82%a2%e3%83%a1%e3%83%aa%e3%82%ab%e3%81%ae%e5%88%a9%e4%b8%8a%e3%81%92%e3%81%af%e6%ac%a1%e3%81%8c%e6%9c%80%e5%be%8c%e3%80%80%e3%81%9d","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/33039","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306e\u5229\u4e0a\u3052\u306f\u6b21\u304c\u6700\u5f8c\u3000\u305d\u3046\u3067\u306a\u3051\u308c\u3070\u682a\u4fa1\u306f\u5d29\u58ca\u3078"},"content":{"rendered":"\n<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cUBS\u306b\u3088\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u30a2\u30e1\u30ea\u30ab\u306e\u5229\u4e0a\u3052\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u653f\u7b56\u91d1\u5229\u3068\u5e02\u5834\u91d1\u5229<\/strong><\/p>\n\n\n\n<p>2021\u5e74\u3001\u7269\u4fa1\u9ad8\u9a30\u3092\u8efd\u8996\u3057\u30a4\u30f3\u30d5\u30ec\u306e\u4e2d\u3067\u7de9\u548c\u3092\u7d9a\u3051\u3066\u3044\u305fFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306f\u30012022\u5e74\u306b\u8aa4\u308a\u3092\u8a8d\u3081\u3066\u5f37\u70c8\u306a\u5229\u4e0a\u3052\u3092\u884c\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/14522\" data-type=\"post\" data-id=\"14522\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u305f\u3060\u30a4\u30f3\u30d5\u30ec\u304c\u7d9a\u304b\u306a\u3044\u3088\u3046\u306b\u7948\u3063\u3066\u3044\u308b\u3060\u3051 (2022\/7\/18)<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u306e\u7d50\u679c\u30012023\u5e74\u3001\u91d1\u878d\u5e02\u5834\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4e0b\u304c\u308a\u59cb\u3081\u305f\u72b6\u614b\u3067\u5e74\u59cb\u3092\u8fce\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u56fd\u50b5\u306e\u91d1\u5229\u306f\u66f4\u306a\u308b\u7d4c\u6e08\u306e\u51b7\u3048\u8fbc\u307f\u3092\u4e88\u60f3\u3057\u3066\u4e0b\u304c\u3063\u3066\u3044\u308b\u3002\u4e00\u65b9\u3067Fed\u306f\u5f15\u304d\u7de0\u3081\u7d99\u7d9a\u306e\u59ff\u52e2\u3092\u5d29\u3057\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306fFed\u3068\u5e02\u5834\u306e\u91d1\u5229\u306e\u95a2\u4fc2\u306b\u3064\u3044\u3066\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>\u307b\u3068\u3093\u3069\u306e\u4eba\u304cFed\u3068\u56fd\u50b5\u5e02\u5834\u306e\u95a2\u4fc2\u3092\u9006\u306b\u8003\u3048\u3066\u3044\u308b\u3002\u5f7c\u3089\u306fFed\u304c\u56fd\u50b5\u306e\u91d1\u5229\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u3066\u3044\u308b\u3068\u8003\u3048\u3066\u3044\u308b\u3002\u305d\u306e\u8003\u3048\u304c\u6b63\u3057\u304b\u3063\u305f\u3053\u3068\u306f\u904e\u53bb\u306b\u306a\u3044\u3057\u3001\u4eca\u3082\u9593\u9055\u3063\u3066\u3044\u308b\u30022\u5e74\u7269\u56fd\u50b5\u306f\u6c38\u9060\u306bFed\u306e\u884c\u52d5\u3092\u6c7a\u3081\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u300c\u6c38\u9060\u306b\u300d\uff08\u539f\u6587\uff1aforever\uff09\u3068\u3044\u3046\u3068\u3053\u308d\u306b\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u50b5\u5238\u6295\u8cc7\u5bb6\u3068\u3057\u3066\u306e\u4fe1\u5ff5\u3092\u611f\u3058\u308b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u53bb\u5e74\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u6025\u843d\u3092\u4e88\u60f3\u7684\u4e2d\u51fa\u6765\u305f\u306e\u306f\u3001\u50b5\u5238\u5e02\u5834\u304c\u305d\u308c\u3092\u7e54\u308a\u8fbc\u3093\u3067\u304a\u308a\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u7d4c\u6e08\u5b66\u8005\u3084\u4e2d\u592e\u9280\u884c\u3088\u308a\u3082\u50b5\u5238\u5e02\u5834\u306e\u65b9\u304c\u6b63\u3057\u3044\u3068\u8aad\u3093\u3060\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u4e88\u60f3\u901a\u308a\u6025\u843d\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/32747\" data-type=\"post\" data-id=\"32747\">\u30a2\u30e1\u30ea\u30ab\u306e12\u6708\u30a4\u30f3\u30d5\u30ec\u7387\u306f6.4%\u306b\u6e1b\u901f\u3001\u30c9\u30eb\u5b89\u7d99\u7d9a\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2022-dec-us-cpi-growth.png\"><img loading=\"lazy\" decoding=\"async\" width=\"467\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2022-dec-us-cpi-growth.png\" alt=\"\" class=\"wp-image-32750\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2022-dec-us-cpi-growth.png 467w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2022-dec-us-cpi-growth-300x300.png 300w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2022-dec-us-cpi-growth-150x150.png 150w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2022-dec-us-cpi-growth-120x120.png 120w\" sizes=\"auto, (max-width: 467px) 100vw, 467px\" \/><\/a><\/figure>\n\n\n\n<p>\u305d\u3057\u3066\u4eca\u3001\u653f\u7b56\u91d1\u5229\u306e\u4eca\u5f8c\u3092\u7e54\u308a\u8fbc\u3093\u3067\u63a8\u79fb\u3059\u308b2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306f\u30d4\u30fc\u30af\u3092\u8d85\u3048\u3066\u304a\u308a\u3001\u305d\u308c\u3092\u8e0f\u307e\u3048\u3066\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a9e\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>\u904e\u53bb\u306e\u4e8b\u4f8b\u3067\u306f\u3001\u6025\u6fc0\u306a\u5229\u4e0a\u3052\u306e\u5f8c\u306bFed\u304c2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306b\u8ffd\u3044\u3064\u3044\u305f\u3089\u3001\u5229\u4e0a\u3052\u306e\u7d42\u308f\u308a\u304c\u8fd1\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306bFed\u306e\u64cd\u4f5c\u3059\u308b\u653f\u7b56\u91d1\u5229\u3092\u4e26\u3079\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\/2023\/01\/2023-1-25-us-2-year-treasury-bond-yield-and-federal-funds-rate-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"476\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2023-1-25-us-2-year-treasury-bond-yield-and-federal-funds-rate-chart.png\" alt=\"\" class=\"wp-image-33046\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2023-1-25-us-2-year-treasury-bond-yield-and-federal-funds-rate-chart.png 476w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2023-1-25-us-2-year-treasury-bond-yield-and-federal-funds-rate-chart-300x294.png 300w\" sizes=\"auto, (max-width: 476px) 100vw, 476px\" \/><\/a><\/figure>\n\n\n\n<p>\u7269\u4fa1\u9ad8\u9a30\u3067Fed\u304c\u5229\u4e0a\u3052\u305b\u3056\u308b\u3092\u5f97\u306a\u304f\u306a\u308b\u3068\u306e\u4e88\u60f3\u304b\u30892\u5e74\u7269\u56fd\u50b5\u306f\u5148\u884c\u3057\u3066\u4e0a\u6607\u3057\u3066\u3044\u305f\u304c\u3001Fed\u306f2\u5e74\u7269\u56fd\u50b5\u306b\u8ffd\u3044\u3064\u304d\u30012\u5e74\u7269\u56fd\u50b5\u306f\u982d\u6253\u3061\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>2\u5e74\u7269\u56fd\u50b5\u306e\u4e88\u60f3\u304c\u6b63\u3057\u3051\u308c\u3070\u3001\u5229\u4e0a\u3052\u306f\u3053\u306e\u8fba\u308a\u3067\u6253\u3061\u6b62\u3081\u3060\u3068\u3044\u3046\u3053\u3068\u3060\u3002\u305d\u3057\u3066\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u305d\u3046\u4e88\u60f3\u3057\u3066\u3044\u308b\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>\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u306f\u6b21\u306e\u4f1a\u5408\u3067Fed\u306f0.25%\u306e\u5229\u4e0a\u3052\u3092\u884c\u306a\u3044\u3001\u305d\u306e\u5f8c\u306f\u308f\u305f\u3057\u306e\u4e88\u60f3\u3067\u306f\u7d4c\u6e08\u6307\u6a19\u304c\u5341\u5206\u5f31\u3044\u305f\u3081\u3001\u5229\u4e0a\u3052\u306f\u305d\u308c\u3067\u7d42\u308f\u308a\u3068\u306a\u308b\u3060\u308d\u3046\u3002\u305d\u308c\u304c2\u5e74\u7269\u56fd\u50b5\u306e\u30e1\u30c3\u30bb\u30fc\u30b8\u3067\u3042\u308a\u3001\u6050\u3089\u304f\u305d\u3046\u306a\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u6b21\u306e\u4f1a\u5408\u7d50\u679c\u767a\u8868\u306f2\u67081\u65e5\u3067\u3042\u308b\u3002\u3061\u306a\u307f\u306b\u91d1\u5229\u5148\u7269\u5e02\u5834\u306f0.25%\u306e\u5229\u4e0a\u3052\u3092\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3068\u3057\u306a\u304c\u3089\u3082\u3001Fed\u304c\u3053\u306e\u4f1a\u5408\u3067\u5229\u4e0a\u3052\u3057\u306a\u3044\u53ef\u80fd\u6027\u308238%\u7e54\u308a\u8fbc\u3093\u3067\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u6050\u3089\u304f\u306f0.25%\u306e\u5229\u4e0a\u3052\u3092\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3060\u308d\u3046\u304c\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u4e88\u60f3\u3067\u306f\u305d\u308c\u3067\u5229\u4e0a\u3052\u306e\u7d42\u308f\u308a\u3068\u306a\u308b\u3002\u653f\u7b56\u91d1\u5229\u306f4.5%\u3068\u306a\u308b\u3002Fed\u81ea\u8eab\u306f\u305d\u3053\u304b\u3089\u66f4\u306b0.5%\u5229\u4e0a\u3052\u3059\u308b\u3068\u4e3b\u5f35\u3057\u3066\u3044\u308b\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>\u7de9\u548c\u8ee2\u63db\u3057\u306a\u3051\u308c\u3070<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306fFed\u306e\u30bf\u30ab\u6d3e\u306a\u614b\u5ea6\u306b\u3064\u3044\u3066\u6b21\u306e\u3088\u3046\u306b\u7d9a\u3051\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\u7d4c\u6e08\u304c\u3069\u3046\u898b\u3066\u3082\u660e\u767d\u306b\u9593\u9055\u3044\u306a\u304f\u5f31\u304f\u306a\u308b\u3053\u3068\u3092\u671b\u3093\u3067\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u5f7c\u3089\u306f\u305d\u308c\u3092\u3084\u308a\u9042\u3052\u3089\u308c\u308b\u304b\u3069\u3046\u304b\u306f\u602a\u3057\u3044\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u305d\u308c\u306f\u3053\u308c\u307e\u3067\u5b58\u5728\u3057\u3066\u304d\u305f\u8cc7\u7523\u4fa1\u683c\u3078\u306e\u4e2d\u592e\u9280\u884c\u306e\u652f\u3048\u3092\u7834\u58ca\u3059\u308b\u3053\u3068\u306b\u7e4b\u304c\u308b\u304b\u3089\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u304c\u6e1b\u901f\u3057\u3001\u5e02\u5834\u304c\u5229\u4e0a\u3052\u30da\u30fc\u30b9\u306e\u920d\u5316\u3092\u7e54\u308a\u8fbc\u307f\u59cb\u3081\u3066\u304b\u3089\u3001\u682a\u5f0f\u5e02\u5834\u306f\u5c11\u306a\u304f\u3068\u3082\u305d\u308c\u307e\u3067\u306e\u4e0b\u843d\u3092\u505c\u6b62\u3057\u305f\u3088\u3046\u306b\u898b\u3048\u308b\u3002\u7c73\u56fd\u682a\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u6b21\u306e\u3088\u3046\u306b\u63a8\u79fb\u3057\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\/2023\/01\/2023-1-25-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"406\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2023-1-25-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-33049\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2023-1-25-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2023-1-25-s-and-p-500-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u7b46\u8005\u306f\u3053\u306e\u6d41\u308c\u3092\u53d7\u3051\u3066\u7c73\u56fd\u682a\u306e\u7a7a\u58f2\u308a\u3092\u53bb\u5e74\u306e\u5185\u306b\u5229\u76ca\u78ba\u5b9a\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31853\" data-type=\"post\" data-id=\"31853\">\u7c73\u56fd\u682a\u306e\u7a7a\u58f2\u308a\u3092\u5229\u76ca\u78ba\u5b9a\u3001\u30b4\u30fc\u30eb\u30c9\u306e\u8cb7\u3044\u306b\u96c6\u4e2d\u3078 (2022\/12\/15)<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u5e02\u5834\u306e\u4e88\u60f3\u3059\u308bFed\u306e\u7de9\u548c\u8ee2\u63db\u304c\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3060\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u3046\u306a\u3089\u306a\u3051\u308c\u3070\u3069\u3046\u306a\u308b\u304b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a9e\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>Fed\u304c\u672c\u5f53\u306b\u3053\u308c\u307e\u3067\u306e\u3088\u3046\u306b\u7de9\u548c\u8ee2\u63db\u3057\u306a\u3044\u306e\u3067\u3042\u308c\u3070\u3001Fed\u306f\u30ea\u30b9\u30af\u8cc7\u7523\u306b\u5bfe\u3059\u308b\u652f\u3048\u3092\u7834\u58ca\u3059\u308b\u3053\u3068\u306b\u306a\u308a\u3001\u305d\u308c\u306f\u91d1\u878d\u5e02\u5834\u306b\u3068\u3063\u3066\u975e\u5e38\u306b\u53d7\u3051\u5165\u308c\u304c\u305f\u3044\u7d50\u679c\u3092\u751f\u3080\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u5e02\u5834\u306f\u65e2\u306b\u7de9\u548c\u8ee2\u63db\u3092\u3042\u308b\u7a0b\u5ea6\u7e54\u308a\u8fbc\u3093\u3067\u304a\u308a\u3001\u682a\u4fa1\u306f\u305d\u308c\u3092\u524d\u63d0\u306b\u52d5\u3044\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3082\u3057\u30d1\u30a6\u30a8\u30eb\u6c0f\u304c\u305d\u306e\u5e02\u5834\u306e\u671f\u5f85\u3092\u88cf\u5207\u308b\u5834\u5408\u306b\u306f\u3001\u5f53\u7136\u306a\u304c\u3089\u682a\u5f0f\u5e02\u5834\u3078\u306e\u5f71\u97ff\u306b\u3064\u3044\u3066\u306f\u8003\u3048\u3066\u304a\u304b\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u3044\u305a\u308c\u306b\u3057\u3066\u3082\u3001\u4e2d\u592e\u9280\u884c\u306f\u7de9\u548c\u306b\u52d5\u3044\u3066\u3082\u5f15\u304d\u7de0\u3081\u306b\u52d5\u3044\u3066\u3082\u3084\u308a\u904e\u304e\u308b\u3089\u3057\u3044\u3002\u305d\u3082\u305d\u3082\u5f7c\u3089\u306e\u7d4c\u6e08\u4e88\u60f3\u306f\u5f53\u305f\u3063\u305f\u8a66\u3057\u304c\u306a\u3044\u306e\u3060\u304b\u3089\u3001\u6b63\u3057\u3044\u91d1\u5229\u3092\u5b9a\u3081\u3089\u308c\u306a\u3044\u306e\u306f\u5f53\u305f\u308a\u524d\u3067\u3042\u308b\u3002\u5f7c\u3089\u306b\u91d1\u5229\u3092\u4efb\u305b\u3066\u3044\u308b\u306e\u304c\u53ef\u7b11\u3057\u3044\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\/12051\" data-type=\"post\" data-id=\"12051\">\u30cf\u30a4\u30a8\u30af: \u653f\u5e9c\u304b\u3089\u901a\u8ca8\u767a\u884c\u306e\u72ec\u5360\u6a29\u3092\u5265\u596a\u305b\u3088<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u7b46\u8005\u306f\u73fe\u5728\u7c73\u56fd\u682a\u306e\u7a7a\u58f2\u308a\u306f\u3057\u3066\u3044\u306a\u3044\u304c\u3001\u7c73\u56fd\u682a\u306e\u6c34\u6e96\u306b\u3064\u3044\u3066\u306f\u30b9\u30b3\u30c3\u30c8\u30fb\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306e\u8a18\u4e8b\u3092\u53c2\u8003\u306b\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u3002\u5f7c\u306e\u4e88\u60f3\u3067\u306f\u3001\u7de9\u548c\u8ee2\u63db\u304c\u3042\u308b\u5834\u5408\u3067\u3082\u3042\u307e\u308a\u826f\u3044\u72b6\u6cc1\u306b\u306f\u306a\u3089\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\/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","protected":false},"excerpt":{"rendered":"<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cUBS\u306b\u3088\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u30a2\u30e1\u30ea\u30ab\u306e\u5229\u4e0a\u3052\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59,118,111,108],"tags":[131],"class_list":["post-33039","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-us-bond-market","category-stock-markets","category-bond-markets","tag-jeffrey-gundlach"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/33039","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=33039"}],"version-history":[{"count":20,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/33039\/revisions"}],"predecessor-version":[{"id":33061,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/33039\/revisions\/33061"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=33039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=33039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=33039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}