{"id":33125,"date":"2023-01-30T20:03:00","date_gmt":"2023-01-30T11:03:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=33125"},"modified":"2023-01-30T12:35:01","modified_gmt":"2023-01-30T03:35:01","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%e3%81%8c%e6%b7%b1%e5%88%bb%e3%81%ab%e3%81%aa%e3%81%a3%e3%81%9f%e3%82%89%e6%a0%aa%e3%82%92%e8%b2%b7","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/33125","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u666f\u6c17\u5f8c\u9000\u304c\u6df1\u523b\u306b\u306a\u3063\u305f\u3089\u682a\u3092\u8cb7\u3048"},"content":{"rendered":"\n<p>\u5f15\u304d\u7d9a\u304dUBS\u306b\u3088\u308bDoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>2023\u5e74\u306b\u682a\u4fa1\u306f\u4e0a\u304c\u308b\u304b<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f2023\u5e74\u306e\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306b\u5f31\u6c17\u3067\u3042\u308b\u3002\u3053\u308c\u304b\u3089\u666f\u6c17\u5f8c\u9000\u306f\u907f\u3051\u3089\u308c\u305a\u3001\u682a\u4fa1\u3082\u4e0b\u304c\u308b\u3068\u4e88\u60f3\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\/32970\" data-type=\"post\" data-id=\"32970\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u666f\u6c17\u5f8c\u9000\u5165\u308a\u306f\u4fdd\u8a3c\u3055\u308c\u3066\u3044\u308b<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/33102\" data-type=\"post\" data-id=\"33102\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u682a\u4fa1\u306f\u307e\u3060\u4e0b\u843d\u3059\u308b\u3001\u30cf\u30a4\u30c6\u30af\u682a\u306f30%\u66b4\u843d\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u826f\u3044\u3053\u3068\u3082\u3042\u308b\u3068\u3044\u3046\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>\u5947\u5999\u306a\u3053\u3068\u3060\u304c\u3001\u826f\u3044\u3053\u3068\u304c\u8d77\u304d\u308b\u306e\u306f\u60aa\u3044\u3053\u3068\u304c\u59cb\u307e\u3063\u305f\u6642\u3060\u3002<\/p>\n\n\n\n<p>\u4f55\u304c\u8a00\u3044\u305f\u3044\u304b\u3068\u8a00\u3046\u3068\u3001\u666f\u6c17\u5f8c\u9000\u304c\u6765\u308b\u3002\u666f\u6c17\u5f8c\u9000\u304c\u967a\u3057\u304f\u306a\u308b\u3002\u305d\u3046\u306a\u308c\u3070\u4f55\u304c\u826f\u304f\u306a\u308b\u304b\u3002\u666f\u6c17\u5f8c\u9000\u306b\u5bfe\u3059\u308b\u53e4\u5178\u7684\u306a\u53cd\u5fdc\u306f\u3001\u66f4\u306a\u308b\u7d19\u5e63\u5370\u5237\u3001\u3082\u3057\u304b\u3057\u305f\u3089\u30bc\u30ed\u91d1\u5229\u3001\u6d41\u52d5\u6027\u5897\u52a0\u3001\u5de8\u984d\u306e\u8ca1\u653f\u8d64\u5b57\u3060\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u305d\u308c\u304c\u3053\u308c\u307e\u306730\u5e74\u9593\u308f\u308c\u308f\u308c\u304c\u666f\u6c17\u5f8c\u9000\u3092\u8131\u51fa\u3057\u3066\u304d\u305f\u65b9\u6cd5\u3060\u304b\u3089\u3060\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u305d\u308c\u306f\u30a4\u30f3\u30d5\u30ec\u306e\u5fa9\u6d3b\u3092\u610f\u5473\u3059\u308b\u3002\u3053\u308c\u3092\u826f\u3044\u3053\u3068\u3068\u8a00\u3046\u306e\u306f\u5947\u5999\u3060\u304c\u3001\u682a\u4fa1\u306f\u30a4\u30f3\u30d5\u30ec\u3092\u5bdf\u77e5\u3059\u308c\u3070\u4e0a\u304c\u308b\u3002\u305d\u308c\u3092\u826f\u3044\u3053\u3068\u3068\u5b9a\u7fa9\u3057\u3066\u3044\u308b\u308f\u3051\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u8981\u3059\u308b\u306b\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u3053\u308c\u304b\u3089\u666f\u6c17\u5f8c\u9000\u3068\u682a\u4fa1\u4e0b\u843d\u304c\u8d77\u3053\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u304c\u3001\u666f\u6c17\u5f8c\u9000\u304c\u672c\u5f53\u306b\u9177\u304f\u306a\u308a\u3001\u653f\u5e9c\u3068\u4e2d\u592e\u9280\u884c\u304c\u7de9\u548c\u8ee2\u63db\u3059\u308b\u6642\u306b\u306f\u682a\u5f0f\u306f\u8cb7\u3044\u3060\u3068\u8a00\u3063\u3066\u3044\u308b\u306e\u3060\u3002<\/p>\n\n\n\n<p>\u300c\u682a\u4fa1\u306f\u30a4\u30f3\u30d5\u30ec\u3067\u4e0a\u304c\u308b\u300d\u3068\u3044\u3046\u90e8\u5206\u306b\u306f\u8aac\u660e\u304c\u5fc5\u8981\u3060\u308d\u3046\u30022022\u5e74\u3001\u30a4\u30f3\u30d5\u30ec\u3067\u682a\u4fa1\u306f\u4e0b\u304c\u3063\u305f\u3002\u3060\u304c\u5b9f\u969b\u306b\u306f\u91d1\u878d\u5e02\u5834\u306f2020\u5e74\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u3092\u7e54\u308a\u8fbc\u3093\u3067\u3044\u305f\u3002<\/p>\n\n\n\n<p>\u4e16\u754c\u5404\u56fd\u3067\u884c\u308f\u308c\u305f\u30b3\u30ed\u30ca\u5f8c\u306e\u5de8\u984d\u306e\u73fe\u91d1\u7d66\u4ed8\u304c\u91d1\u878d\u5e02\u5834\u306b\u6d41\u308c\u8fbc\u3093\u3060\u305f\u3081\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u3084\u8fb2\u4f5c\u7269\u306a\u3069\u306e\u4e16\u754c\u7684\u4e0a\u6607\u306f\u91d1\u878d\u5e02\u5834\u3067\u306f2020\u5e74\u304b\u3089\u59cb\u307e\u3063\u3066\u304a\u308a\u3001\u3053\u3053\u3067\u306f\u5f53\u6642\u305d\u306e\u3053\u3068\u3092\u5831\u3058\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11801\" data-type=\"post\" data-id=\"11801\">\u91d1\u878d\u5e02\u5834\u306b\u30a4\u30f3\u30d5\u30ec\u306e\u5146\u3057: \u91d1\u3001\u539f\u6cb9\u3001\u7a40\u7269\u4fa1\u683c\u304c\u9ad8\u9a30 (2020\/10\/14)<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u3057\u30662020\u5e74\u30682021\u5e74\u306b\u306f\u682a\u4fa1\u3082\u4e0a\u304c\u3063\u305f\u3002\u3059\u3079\u30662022\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u3092\u4e88\u60f3\u3057\u3066\u5e02\u5834\u304c\u52d5\u3044\u305f\u304b\u3089\u3067\u3042\u308b\u3002\u4e00\u65b9\u30672022\u5e74\u306b\u306f\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u304c\u59cb\u307e\u308a\u3001\u7d4c\u6e08\u306e\u51b7\u3048\u8fbc\u307f\u3092\u4e88\u60f3\u3057\u3066\u682a\u4fa1\u306f\u4e0b\u304c\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u3064\u307e\u308a\u682a\u4fa1\u306f\u30a4\u30f3\u30d5\u30ec\u306b\u3088\u3063\u3066\u4e0a\u304c\u3063\u3066\u4e0b\u304c\u3063\u305f\u306e\u3067\u3042\u308b\u3002\u7c73\u56fd\u682a\u306e\u30c1\u30e3\u30fc\u30c8\u306f\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\/2023-1-30-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\/2023-1-30-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-33129\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2023-1-30-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/01\/2023-1-30-s-and-p-500-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3068\u306f\u7121\u95a2\u4fc2\u3067\u3042\u308b\u30a4\u30f3\u30d5\u30ec\u306e\u672c\u5f53\u306e\u539f\u56e0\u306b\u3064\u3044\u3066\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u306b\u8a73\u3057\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/33013\" data-type=\"post\" data-id=\"33013\">\u4e16\u754c\u6700\u9ad8\u306e\u7d4c\u6e08\u5b66\u8005\u30b5\u30de\u30fc\u30ba\u6c0f\u304c\u8aac\u660e\u3059\u308b\u30a4\u30f3\u30d5\u30ec\u306e\u672c\u5f53\u306e\u7406\u7531<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3053\u306e\u8a18\u4e8b\u3067\u66f8\u3044\u305f\u901a\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u539f\u56e0\u304c\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3067\u306a\u3044\u306e\u306f\u305f\u3060\u306e\u4e8b\u5b9f\u3067\u3042\u308b\u3002\u3060\u304c\u672a\u3060\u306b\u300c\u3060\u304c\u65e5\u672c\u306e\u30a4\u30f3\u30d5\u30ec\u306f\u5225\u3060\u300d\u306a\u3069\u3068\u8a00\u3063\u3066\u3044\u308b\u4eba\u304c\u3044\u308b\u306e\u3092\u898b\u308b\u3068\u4eba\u9593\u306e\u982d\u306f\u3082\u3046\u99c4\u76ee\u306a\u306e\u3060\u3068\u601d\u3063\u3066\u3057\u307e\u3046\u30022021\u5e74\u304b\u3089\u65e2\u306b\u4e0a\u304c\u3063\u3066\u3044\u308b\u65e5\u672c\u306e\u751f\u7523\u8005\u7269\u4fa1\u6307\u6570\u3092\u898b\u3066\u307f\u308b\u3068\u826f\u3044\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u6d88\u8cbb\u8005\u7269\u4fa1\u304c2022\u5e74\u304b\u3089\u4e0a\u304c\u308a\u59cb\u3081\u305f\u306e\u306f\u3001\u65e5\u9280\u304c\u5f15\u304d\u8d77\u3053\u3057\u305f\u5186\u5b89\u3068\u3001\u305d\u308c\u307e\u3067\u4ed5\u5165\u308c\u5024\u306e\u30a4\u30f3\u30d5\u30ec\u3092\u8ee2\u5ac1\u3067\u304d\u306a\u304b\u3063\u305f\u5e97\u8217\u304c\u3001\u5b9f\u969b\u306b\u306f\u307e\u3063\u305f\u304f\u7121\u95a2\u4fc2\u306e\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3092\u53e3\u5b9f\u306b\u3057\u3066\u3088\u3046\u3084\u304f\u5546\u54c1\u4fa1\u683c\u306b\u8ee2\u5ac1\u51fa\u6765\u308b\u3088\u3046\u306b\u306a\u3063\u305f\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u65e5\u9280\u306b\u3064\u3044\u3066\u3082\u30b3\u30e1\u30f3\u30c8\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\/32998\" data-type=\"post\" data-id=\"32998\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3001\u65e5\u9280\u306e\u91cf\u7684\u7de9\u548c\u3092\u76ae\u8089\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>2023\u5e74\u306e\u682a\u5f0f\u5e02\u5834\u898b\u901a\u3057<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u682a\u4fa1\u306f\u3053\u306e\u5f8c\u3069\u3046\u306a\u308b\u304b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f2023\u5e74\u524d\u534a\u306e\u682a\u4fa1\u4e0b\u843d\u3092\u4e88\u60f3\u3057\u3066\u304a\u308a\u3001\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>\u308f\u305f\u3057\u304c\u6295\u8cc7\u5bb6\u306b\u5968\u3081\u308b\u306e\u306f\u3001\u4eca\u306e\u3068\u3053\u308d\u306f\u5b88\u308a\u3092\u56fa\u3081\u3066\u304a\u304f\u3053\u3068\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3060\u304c\u666f\u6c17\u5f8c\u9000\u304c\u672c\u5f53\u306b\u6df1\u523b\u5316\u3059\u308c\u3070\u8a71\u306f\u5225\u3067\u3042\u308b\u3002\u4f55\u6545\u306a\u3089\u3070\u7de9\u548c\u304c\u6765\u308b\u304b\u3089\u3067\u3042\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\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>Fed\u3068\u8ca1\u653f\u653f\u7b56\u304c\u7de9\u548c\u306b\u8ee2\u63db\u3059\u308c\u3070\u3001\u305d\u308c\u306f\u9577\u671f\u7684\u306b\u306f\u9177\u3044\u30a2\u30a4\u30c7\u30a2\u3060\u304c\u3001\u308f\u308c\u308f\u308c\u306f\u3082\u3046\u9577\u3089\u304f\u305d\u306e\u65b9\u6cd5\u306b\u56fa\u57f7\u3057\u3066\u304a\u308a\u30012018\u5e74\u30682020\u5e74\u306e\u682a\u4fa1\u4e0b\u843d\u3092\u8ee2\u63db\u3055\u305b\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u308f\u305f\u3057\u306e\u4e88\u60f3\u3067\u306f\u6b21\u306e\u7de9\u548c\u306e\u898f\u6a21\u306f\u30a4\u30f3\u30d5\u30ec\u3092\u518d\u3073\u5f15\u304d\u8d77\u3053\u3059\u306e\u306b\u5341\u5206\u306a\u3082\u306e\u306b\u306a\u308b\u3060\u308d\u3046\u3002\u3053\u308c\u3092\u826f\u3044\u3053\u3068\u3068\u547c\u3076\u306e\u306f\u5947\u5999\u3060\u304c\u3001\u305d\u308c\u304c2023\u5e74\u306b\u8003\u3048\u3089\u308c\u308b1\u3064\u306e\u6295\u8cc7\u6a5f\u4f1a\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3060\u304b\u30892022\u5e74\u306b\u306a\u3063\u3066\u3088\u3046\u3084\u304f\u30a4\u30f3\u30d5\u30ec\u306b\u53cd\u5fdc\u3057\u59cb\u3081\u305f\u4f55\u3082\u77e5\u3089\u306a\u3044\u4eba\u3005\u3068\u306f\u9055\u3044\u3001\u5148\u56de\u308a\u3059\u308b\u91d1\u878d\u5e02\u5834\u306f2020\u5e74\u30682021\u5e74\u306f\u30a4\u30f3\u30d5\u30ec\u30012022\u5e74\u306f\u30c7\u30d5\u30ec\u3001\u305d\u3057\u3066\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u4e88\u60f3\u3067\u306f\u30012023\u5e74\u5f8c\u534a\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u308b\u3068\u3044\u3046\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u305d\u3046\u306a\u308c\u3070\u3001\u6050\u3089\u304f\u682a\u4fa1\u306f\u4e0a\u304c\u308b\u3060\u308d\u3046\u3002\u7b46\u8005\u3068\u3057\u3066\u306f\u30a8\u30cd\u30eb\u30ae\u30fc\u3084\u8fb2\u4f5c\u7269\u306a\u3069\u306e\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u9298\u67c4\u306e\u5e95\u5024\u8cb7\u3044\u3092\u5968\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\/32391\" data-type=\"post\" data-id=\"32391\">2023\u5e74\u306f\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5e95\u5024\u8cb7\u3044\u306e\u5e74: 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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\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30562\" data-type=\"post\" data-id=\"30562\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306e\u30a4\u30f3\u30d5\u30ec\u9000\u6cbb\u304c\u672c\u6c17\u304b\u3069\u3046\u304b\u7591\u3046\u7406\u7531<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/28683\" data-type=\"post\" data-id=\"28683\">\u30b8\u30e7\u30f3\u30fb\u30dd\u30fc\u30eb\u30bd\u30f3\u6c0f\u3001\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3067\u91d1\u4fa1\u683c\u9ad8\u9a30\u3092\u4e88\u60f3<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u666f\u6c17\u5f8c\u9000\u306b\u5bfe\u3059\u308b\u653f\u5e9c\u3084\u4e2d\u592e\u9280\u884c\u306e\u3053\u308c\u307e\u3067\u306e\u5bfe\u5fdc\u306e\u3088\u3046\u306b\u3001\u4eca\u56de\u3082\u5f7c\u3089\u306f\u666f\u6c17\u5f8c\u9000\u306b\u306f\u7de9\u548c\u3092\u30aa\u30a6\u30e0\u8fd4\u3057\u3059\u308b\u3068\u8003\u3048\u3066\u3044\u308b\u3002\u305d\u308c\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u306e\u306b\u5f7c\u3089\u306f\u4f55\u3082\u5b66\u3093\u3067\u3044\u306a\u3044\u3068\u8aad\u3093\u3067\u3044\u308b\u306e\u3060\u3002\u5f7c\u3089\u306f\u30ac\u30bd\u30ea\u30f3\u4fa1\u683c\u9ad8\u9a30\u306b\u88dc\u52a9\u91d1\u3067\u5bfe\u5fdc\u3059\u308b\u3088\u3046\u306a\u4eba\u3005\u3060\u304b\u3089\u3001\u305d\u308c\u306f\u5f53\u305f\u3063\u3066\u3044\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/20131\" data-type=\"post\" data-id=\"20131\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u30ac\u30bd\u30ea\u30f3\u306e\u4fa1\u683c\u9ad8\u9a30\u5bfe\u7b56\u3067\u30a4\u30f3\u30d5\u30ec\u60aa\u5316\u3078\u3000\u73fe\u91d1\u7d66\u4ed8\u306e\u60aa\u5922\u3092\u4eba\u306f\u3082\u3046\u5fd8\u308c\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>Fed\u306f2021\u5e74\u306b\u65e2\u306b\u8d77\u3053\u3063\u3066\u3044\u305f\u30a4\u30f3\u30d5\u30ec\u3092\u300c\u4e00\u6642\u7684\u3067\u8105\u5a01\u3067\u306f\u306a\u3044\u300d\u3068\u8a00\u3044\u5f35\u308a\u30012018\u5e74\u306b\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3067\u682a\u4fa1\u3092\u66b4\u843d\u3055\u305b\u306a\u304c\u3089\u300c\u682a\u4fa1\u4e0b\u843d\u306f\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3068\u306f\u95a2\u4fc2\u306a\u3044\u300d\u3068\u8a00\u3044\u5f35\u308a\u3001\u30d1\u30a6\u30a8\u30eb\u6c0f\u3088\u308a\u524d\u306e\u6642\u4ee3\u306b\u306f\u30012008\u5e74\u306e\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u306f\u300c\u30a2\u30e1\u30ea\u30ab\u306e\u4f4f\u5b85\u5e02\u5834\u306b\u9650\u5b9a\u3055\u308c\u305f\u5c40\u6240\u7684\u306a\u554f\u984c\u300d\u3068\u4e3b\u5f35\u3057\u3066\u3044\u305f\u306e\u3060\u304b\u3089\u3001\u8ab0\u3082\u4fe1\u3058\u306a\u304f\u3066\u5f53\u305f\u308a\u524d\u3067\u306f\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4f55\u6545\u7d4c\u6e08\u306e\u3053\u3068\u3092\u4f551\u3064\u77e5\u3089\u305a\u3001\u305d\u308c\u3069\u3053\u308d\u304b\u7269\u4fa1\u9ad8\u9a30\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u5f35\u672c\u4eba\u3067\u3042\u308b\u4e2d\u592e\u9280\u884c\u5bb6\u3084\u653f\u6cbb\u5bb6\u3092\u30af\u30d3\u306b\u3057\u306a\u3044\u306e\u304b\u3002\u7b46\u8005\u306b\u306f\u7406\u89e3\u4e0d\u80fd\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/10473\" data-type=\"post\" data-id=\"10473\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u653f\u5e9c\u304c\u91d1\u878d\u5371\u6a5f\u304b\u3089\u5b88\u3063\u3066\u304f\u308c\u308b\u3068\u601d\u3046\u306a<\/a><\/li>\n\n\n\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","protected":false},"excerpt":{"rendered":"<p>\u5f15\u304d\u7d9a\u304dUBS\u306b\u3088\u308bDoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\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":[59,111],"tags":[131],"class_list":["post-33125","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-stock-markets","tag-jeffrey-gundlach"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/33125","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=33125"}],"version-history":[{"count":25,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/33125\/revisions"}],"predecessor-version":[{"id":33151,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/33125\/revisions\/33151"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=33125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=33125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=33125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}