{"id":35086,"date":"2023-03-28T20:01:00","date_gmt":"2023-03-28T11:01:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=35086"},"modified":"2023-03-28T14:10:23","modified_gmt":"2023-03-28T05:10:23","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%af%e6%95%b0%e3%83%b6%e6%9c%88%e3%81%a7%e6%99%af%e6%b0%97%e5%be%8c%e9%80%80%e3%80%81%e5%88%a9","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35086","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306f\u6570\u30f6\u6708\u3067\u666f\u6c17\u5f8c\u9000\u3001\u5229\u4e0a\u3052\u64a4\u56de\u3078"},"content":{"rendered":"\n<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cCNBC\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u5229\u4e0a\u3052\u3068\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u9280\u884c\u5371\u6a5f\u3068\u91d1\u878d\u653f\u7b56<\/strong><\/p>\n\n\n\n<p>\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u3068\u305d\u306e\u5f8c\u306e\u30af\u30ec\u30c7\u30a3\u30b9\u30a4\u30b9\u306e\u6551\u6e08\u3068\u3044\u3046\u4e16\u754c\u7684\u306a\u9280\u884c\u5371\u6a5f\u306e\u5f8c\u3001Fed\u306f0.25%\u306e\u5229\u4e0a\u3052\u3092\u6c7a\u5b9a\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/34896\" data-type=\"post\" data-id=\"34896\">3\u6708FOMC\u4f1a\u5408\u7d50\u679c\u3001\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306b2018\u5e74\u4e16\u754c\u540c\u6642\u682a\u5b89\u306e\u5f71\u304c\u898b\u3048\u59cb\u3081\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u9280\u884c\u5371\u6a5f\u3067\u5229\u4e0a\u3052\u505c\u6b62\u3068\u3044\u3046\u8a71\u3082\u3042\u3063\u305f\u304c\u3001\u7d50\u5c40\u5229\u4e0a\u3052\u306f\u884c\u308f\u308c\u305f\u3002<\/p>\n\n\n\n<p>Fed\u306f\u58f0\u660e\u6587\u3067\u4e00\u5fdc\u5229\u4e0a\u3052\u306e\u7d99\u7d9a\u3092\u8868\u660e\u3057\u305f\u304c\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u30b3\u30e1\u30f3\u30c8\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>\u3053\u308c\u3067\u5229\u4e0a\u3052\u7d42\u4e86\u3068\u306a\u3063\u305f\u53ef\u80fd\u6027\u306f\u4e94\u5206\u4e94\u5206\u3088\u308a\u9ad8\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>Fed\u304c\u3082\u3046\u5229\u4e0a\u3052\u3092\u3057\u306a\u3044\u3068\u3044\u3046\u306e\u304c\u308f\u305f\u3057\u306e\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3060\u3002\u5229\u4e0a\u3052\u505c\u6b62\u306e\u4e3b\u306a\u7406\u7531\u306f\u4fe1\u7528\u7e2e\u5c0f\u306e\u4e0d\u5b89\u3068\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306f\u73fe\u91d1\u3092\u78ba\u4fdd\u3059\u308b\u3053\u3068\u306b\u5931\u6557\u3057\u3066\u7834\u7dbb\u3057\u305f\u3002\u58f2\u5374\u53ef\u80fd\u306a\u4fdd\u6709\u50b5\u5238\u3092\u3059\u3079\u3066\u58f2\u3063\u3066\u3082\u73fe\u91d1\u304c\u8db3\u308a\u306a\u304b\u3063\u305f\u3002\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u8a73\u3057\u304f\u8aac\u660e\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\/34498\" data-type=\"post\" data-id=\"34498\">\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u6c7a\u7b97\u66f8\u304b\u3089\u7834\u7dbb\u306e\u7406\u7531\u3092\u89e3\u8aac\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u308c\u306f\u9ad8\u91d1\u5229\u306b\u3088\u3063\u3066\u5f15\u304d\u8d77\u3053\u3055\u308c\u305f\u3002\u3053\u306e\u3088\u3046\u306a\u72b6\u6cc1\u3067\u306f\u3001\u9280\u884c\u306f\u307b\u304b\u306b\u8cb8\u3057\u51fa\u3059\u3088\u308a\u3082\u81ea\u5206\u306e\u91d1\u5eab\u306b\u73fe\u91d1\u3092\u6b8b\u3059\u3053\u3068\u3092\u9078\u629e\u305b\u3056\u308b\u3092\u5f97\u306a\u3044\u3060\u308d\u3046\u3002\u305d\u308c\u306fFed\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3067\u305f\u3060\u3067\u3055\u3048\u6e1b\u3063\u3066\u3044\u308b\u8cb8\u4ed8\u304c\u3053\u3053\u304b\u3089\u66f4\u306b\u6e1b\u3063\u3066\u3086\u304f\u3053\u3068\u3092\u610f\u5473\u3057\u3066\u3044\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u8a00\u3046\u300c\u4fe1\u7528\u7e2e\u5c0f\u300d\u3068\u306f\u305d\u3046\u3044\u3046\u610f\u5473\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u9ad8\u91d1\u5229\u3067\u8cc7\u91d1\u8abf\u9054\u304c\u96e3\u3057\u304f\u306a\u3063\u305f\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u304c\u9810\u91d1\u3092\u5f15\u304d\u51fa\u3057\u305f\u3053\u3068\u3067\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306f\u6f70\u308c\u305f\u3002\u305d\u3057\u3066\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u304c\u6f70\u308c\u305f\u3053\u3068\u3067\u4ed6\u306e\u9280\u884c\u306f\u8cb8\u4ed8\u304c\u66f4\u306b\u96e3\u3057\u304f\u306a\u308b\u3002\u8ca0\u306e\u30b9\u30d1\u30a4\u30e9\u30eb\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3067\u305d\u3046\u3044\u3046\u72b6\u6cc1\u306b\u7f6e\u304b\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u666f\u6c17\u5f8c\u9000\u3078<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u4eca\u5f8c\u306b\u3064\u3044\u3066\u4ee5\u4e0b\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>\u7d4c\u6e08\u306b\u5bfe\u3059\u308b\u9006\u98a8\u306f\u7a4d\u307f\u4e0a\u304c\u3063\u3066\u304d\u3066\u3044\u308b\u3002\u305d\u308c\u304c\u8a71\u984c\u306b\u306a\u3063\u3066\u304b\u3089\u4e00\u5b9a\u306e\u6642\u9593\u304c\u7d4c\u3063\u3066\u3044\u308b\u3002\u3082\u3046\u3042\u3068\u6570\u30f6\u6708\u3067\u666f\u6c17\u5f8c\u9000\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3060\u304c\u4e2d\u592e\u9280\u884c\u5bb6\u306e\u53cd\u5fdc\u306f\u305d\u3046\u3044\u3046\u3082\u306e\u3067\u306f\u306a\u304b\u3063\u305f\u3088\u3046\u306b\u601d\u3048\u308b\u3002<\/p>\n\n\n\n<p>\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u306e\u5f8c\u3001\u307e\u305aECB\uff08\u6b27\u5dde\u4e2d\u592e\u9280\u884c\uff09\u306e\u30af\u30ea\u30b9\u30c6\u30a3\u30fc\u30cc\u30fb\u30e9\u30ac\u30eb\u30c9\u7dcf\u88c1\u304c0.5%\u306e\u5229\u4e0a\u3052\u3092\u65ad\u884c\u3057\u305f\u3002\u305d\u306e\u5f8cFed\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u304c\u305d\u308c\u306b\u7d9a\u3044\u30660.25%\u306e\u5229\u4e0a\u3052\u3092\u884c\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306b\u3064\u3044\u3066\u7d4c\u6e08\u5b66\u8005\u306e\u30e9\u30ea\u30fc\u30fb\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u30b3\u30e1\u30f3\u30c8\u3057\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/34785\" data-type=\"post\" data-id=\"34785\">\u30b5\u30de\u30fc\u30ba\u6c0f\u3001\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u7834\u7dbb\u5f8c\u3082\u5229\u4e0a\u3052\u7d99\u7d9a\u3092\u8a34\u3048\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>\u30e9\u30ac\u30eb\u30c9\u5973\u53f2\u306f\u7d20\u6674\u3089\u3057\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u5f7c\u5973\u306f\u91d1\u878d\u30b7\u30b9\u30c6\u30e0\u306b\u554f\u984c\u304c\u3042\u308b\u6642\u306b\u3067\u3082\u5fc5\u8981\u306a\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u653f\u7b56\u3092\u9042\u884c\u3067\u304d\u308b\u3053\u3068\u3092\u793a\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u878d\u30b7\u30b9\u30c6\u30e0\u306e\u5b89\u5b9a\u3068\u3044\u30462\u3064\u306e\u554f\u984c\u306b\u5bfe\u3057\u3066\u306f\u5225\u3005\u306e\u65b9\u6cd5\u3067\u5bfe\u5fdc\u3067\u304d\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u554f\u984c\u3092\u72a0\u7272\u306b\u3057\u306a\u304f\u3066\u6e08\u3080\u3068\u3044\u3046\u3053\u3068\u3092\u793a\u3057\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3060\u304c\u305d\u3046\u3060\u308d\u3046\u304b\u3002\u30a4\u30f3\u30d5\u30ec\u5bfe\u7b56\u3092\u7b2c\u4e00\u306b\u8003\u3048\u308b\u30b5\u30de\u30fc\u30ba\u6c0f\u304c\u9ad8\u91d1\u5229\u7d99\u7d9a\u3092\u8a34\u3048\u3066\u3044\u308b\u306e\u306f\u7406\u89e3\u3067\u304d\u308b\u3002\u3060\u304c\u305d\u308c\u3067\u3082\u9280\u884c\u5371\u6a5f\u3092\u60aa\u5316\u3055\u305b\u306a\u3044\u304b\u3069\u3046\u304b\u306f\u5225\u306e\u554f\u984c\u3060\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u5bfe\u7b56\u306e\u9ad8\u91d1\u5229\u3068\u9280\u884c\u5371\u6a5f\u306e\u89e3\u6c7a\u3092\u4e21\u65b9\u9054\u6210\u3067\u304d\u308b\u3068\u3057\u3066\u3044\u308b\u30e9\u30ac\u30eb\u30c9\u6c0f\u3089\u306e\u898b\u89e3\u306b\u3064\u3044\u3066\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>\u5f37\u304f\u7570\u8b70\u3092\u5531\u3048\u308b\u3002\u305d\u308c\u306f\u4e21\u7acb\u3067\u304d\u306a\u3044\u3002\u30b1\u30fc\u30ad\u3092\u5f8c\u306b\u6b8b\u3057\u306a\u304c\u3089\u540c\u6642\u306b\u98df\u3079\u308b\u3053\u3068\u306f\u3067\u304d\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u305d\u3082\u305d\u3082\u3001\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u304cFed\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306e\u305b\u3044\u3067\u3042\u308a\u3001\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u304c\u7834\u7dbb\u3057\u305f\u3053\u3068\u306b\u3088\u3063\u3066\u9280\u884c\u306f\u307e\u3059\u307e\u3059\u8cb8\u4ed8\u3092\u6e0b\u3089\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u3063\u305f\u3053\u3068\u306f\u4e0a\u306b\u66f8\u3044\u305f\u901a\u308a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u9ad8\u91d1\u5229\u3092\u7d99\u7d9a\u3059\u308c\u3070\u9280\u884c\u306f\u3053\u308c\u304b\u3089\u3082\u6f70\u308c\u308b\u3057\u3001\u9ad8\u91d1\u5229\u3092\u7d99\u7d9a\u3057\u306a\u3051\u308c\u3070\u30a4\u30f3\u30d5\u30ec\u306f\u6b62\u307e\u3089\u306a\u3044\u3002\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u8a70\u3093\u3067\u3044\u308b\u306e\u3067\u3042\u308a\u3001\u305d\u308c\u306f\u30b5\u30de\u30fc\u30ba\u6c0f\u3082\u5206\u304b\u3063\u3066\u3044\u308b\u306f\u305a\u3060\u3002\u9ad8\u91d1\u5229\u652f\u6301\u6d3e\u306e\u30b5\u30de\u30fc\u30ba\u6c0f\u3068\u3057\u3066\u306f\u3001\u9ad8\u91d1\u5229\u3092\u7dad\u6301\u3057\u3066\u3082\u554f\u984c\u306f\u5c11\u306a\u3044\u3068\u8a00\u308f\u3056\u308b\u3092\u5f97\u306a\u3044\u3060\u3051\u3060\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u53bb\u5e74\u304b\u3089\u4e00\u8cab\u3057\u3066\u91d1\u5229\u4f4e\u4e0b\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002\u9ad8\u91d1\u5229\u3067\u306f\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u304c\u4fdd\u305f\u306a\u3044\u3068\u8e0f\u3093\u3067\u3044\u308b\u306e\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u305d\u306e\u4e88\u60f3\u306f\u7684\u4e2d\u3057\u3066\u304d\u305f\u3002\u30a2\u30e1\u30ea\u30ab\u306e2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\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\/03\/2023-3-28-us-2-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"406\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/03\/2023-3-28-us-2-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-35097\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/03\/2023-3-28-us-2-year-treasury-bond-yield-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/03\/2023-3-28-us-2-year-treasury-bond-yield-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u3060\u304c\u3053\u308c\u306f\u307e\u3060\u91d1\u5229\u4f4e\u4e0b\u306e\u59cb\u307e\u308a\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u9ad8\u91d1\u5229\u3092\u7dad\u6301\u3057\u3066\u3082\u9280\u884c\u5371\u6a5f\u306f\u89e3\u6c7a\u3067\u304d\u308b\u3068\u3044\u3046\u59ff\u52e2\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>\u3053\u306e\u72b6\u6cc1\u306f\u30a4\u30ae\u30ea\u30b9\u6d77\u5ce1\u3092\u521d\u3081\u3066\u6cf3\u3044\u3067\u6e21\u3063\u305f\u7537\u306e\u3053\u3068\u3092\u601d\u3044\u51fa\u3055\u305b\u308b\u3002\u5f7c\u306f\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u5dde\u897f\u90e8\u306b\u5230\u9054\u3057\u3066\u30ca\u30a4\u30a2\u30ac\u30e9\u306e\u6edd\u306e\u967a\u3057\u3044\u6d41\u308c\u3092\u898b\u3001\u305d\u3053\u3092\u6cf3\u3044\u3067\u8d85\u3048\u3089\u308c\u308b\u3068\u81ea\u6162\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u30de\u30b9\u30b3\u30df\u304c\u6765\u305f\u6642\u3001\u5f7c\u306f\u6d41\u308c\u306b\u98db\u3073\u8fbc\u3093\u3060\u3002\u3057\u3070\u3089\u304f\u624b\u3084\u8db3\u304c\u898b\u3048\u3066\u3044\u305f\u304c\u3001\u305d\u306e\u5f8c6\u30de\u30a4\u30eb\u4e0b\u6d41\u3067\u5f7c\u306e\u6b7b\u4f53\u304c\u898b\u3064\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u5f7c\u306f\u305d\u308c\u304c\u3067\u304d\u308b\u3068\u81ea\u6162\u3057\u3066\u3057\u307e\u3063\u305f\u306e\u3067\u5bfe\u9762\u3092\u4fdd\u3064\u305f\u3081\u306b\u3084\u3089\u3056\u308b\u3092\u5f97\u306a\u304f\u306a\u3063\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30bd\u30d5\u30c8\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u3092\u53ef\u80fd\u3060\u3068\u4e3b\u5f35\u3059\u308b\u3053\u3068\u81ea\u4f53\u304c\u5f7c\u3089\u3092\u8ffd\u3044\u8fbc\u3093\u3067\u3086\u304f\u3002\u6295\u8cc7\u5bb6\u306f\u682a\u5f0f\u3068\u91d1\u5229\u3068\u30c9\u30eb\u306e\u4e0b\u843d\u306b\u8ced\u3051\u306a\u304c\u3089\u9ad8\u307f\u306e\u898b\u7269\u3067\u3042\u308b\u3002\u4f4e\u91d1\u5229\u3067\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u5f7c\u3089\u304c\u60aa\u3044\u306e\u3060\u304b\u3089\u3001\u305d\u308c\u4ee5\u4e0a\u4f55\u304c\u8a00\u3048\u308b\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/33890\" data-type=\"post\" data-id=\"33890\">\u30dd\u30fc\u30eb\u30bd\u30f3\u6c0f: \u91cf\u7684\u7de9\u548c\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u306f\u5229\u4e0a\u3052\u64a4\u56de\u3078<\/strong><\/p>\n\n\n\n<p>\u305d\u308c\u3067\u3082Fed\u306f\u516c\u5f0f\u306b\u306f\u9ad8\u91d1\u5229\u7d99\u7d9a\u3092\u8868\u660e\u3057\u3066\u3044\u308b\u3002\u3060\u304c\u305d\u308c\u306b\u5bfe\u3057\u3066\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>\u7d4c\u6e08\u6307\u6a19\u306f\u3053\u308c\u304b\u3089\u5f31\u307e\u3063\u3066\u3044\u304f\u3060\u308d\u3046\u3002Fed\u304c\u30bd\u30d5\u30c8\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u3092\u9054\u6210\u3057\u305f\u3068\u8a87\u308c\u308b\u72b6\u614b\u306b\u306a\u308b\u304b\u306f\u7591\u554f\u3060\u3002\u7d4c\u6e08\u306f\u305d\u3082\u305d\u3082\u65e2\u306b\u4e00\u5b9a\u671f\u9593\u5f31\u307e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>Fed\u306f\u5229\u4e0a\u3052\u3092\u3057\u305f\u6642\u3001\u534a\u5206\u81ea\u4fe1\u304c\u306a\u304b\u3063\u305f\u3088\u3046\u306b\u601d\u3048\u308b\u3002<\/p>\n\n\n\n<p>\u5f7c\u3089\u306f\u7d50\u5c40\u964d\u53c2\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u524d\u56de\u306e\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3068\u610f\u898b\u304c\u771f\u9006\u306a\u306e\u304c\u9762\u767d\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35069\" data-type=\"post\" data-id=\"35069\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u30a2\u30e1\u30ea\u30ab\u304c\u5229\u4e0b\u3052\u306b\u8ffd\u3044\u8fbc\u307e\u308c\u308b\u53ef\u80fd\u6027\u306f\u4f4e\u3044<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u7b46\u8005\u306e\u610f\u898b\u306f\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u3082\u306e\u3068\u540c\u3058\u3067\u3042\u308b\u3002\u5f15\u304d\u7d9a\u304d\u682a\u4fa1\u30fb\u91d1\u5229\u30fb\u30c9\u30eb\u306e\u4e0b\u843d\u306b\u8ced\u3051\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/33649\" data-type=\"post\" data-id=\"33649\">2023\u5e74\u306e\u682a\u4fa1\u4e88\u60f3: \u7c73\u56fd\u682a\u3068\u65e5\u672c\u682a\u306e\u7a7a\u58f2\u308a\u3092\u958b\u59cb\u3001\u30bd\u30d5\u30c8\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u306f\u6709\u308a\u5f97\u306a\u3044<\/a><\/li>\n\n\n\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\/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<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cCNBC\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u5229\u4e0a\u3052\u3068\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\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":[118,108],"tags":[131],"class_list":["post-35086","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\/35086","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=35086"}],"version-history":[{"count":20,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/35086\/revisions"}],"predecessor-version":[{"id":35107,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/35086\/revisions\/35107"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=35086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=35086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=35086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}