{"id":36111,"date":"2023-04-23T20:01:00","date_gmt":"2023-04-23T11:01:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=36111"},"modified":"2023-04-23T18:21:14","modified_gmt":"2023-04-23T09:21:14","slug":"%e3%82%b5%e3%83%9e%e3%83%bc%e3%82%ba%e6%b0%8f%e3%80%81%e5%95%86%e7%94%a8%e4%b8%8d%e5%8b%95%e7%94%a3%e3%81%8c%e5%8d%b1%e6%a9%9f%e7%9a%84%e3%81%a0%e3%81%a8%e3%81%84%e3%81%86%e6%84%8f%e8%a6%8b%e3%81%ab","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36111","title":{"rendered":"\u30b5\u30de\u30fc\u30ba\u6c0f\u3001\u5546\u7528\u4e0d\u52d5\u7523\u304c\u5371\u6a5f\u7684\u3060\u3068\u3044\u3046\u610f\u898b\u306b\u53cd\u8ad6"},"content":{"rendered":"\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u5143\u8ca1\u52d9\u9577\u5b98\u3067\u7d4c\u6e08\u5b66\u8005\u306e\u30e9\u30ea\u30fc\u30fb\u30b5\u30de\u30fc\u30ba\u6c0f\u304cGZERO Media\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u30a2\u30e1\u30ea\u30ab\u306e\u5546\u7528\u4e0d\u52d5\u7523\u306b\u3064\u3044\u3066\u30b3\u30e1\u30f3\u30c8\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u9280\u884c\u5371\u6a5f\u3068\u5546\u7528\u4e0d\u52d5\u7523<\/strong><\/p>\n\n\n\n<p>\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u306b\u59cb\u307e\u308b\u9280\u884c\u5371\u6a5f\u306e\u5f8c\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u5546\u7528\u4e0d\u52d5\u7523\u306e\u5148\u884c\u304d\u3092\u8b66\u544a\u3059\u308b\u58f0\u304c\u9ad8\u307e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u4f55\u6545\u306a\u3089\u3070\u3001\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u5f8c\u3001\u5730\u65b9\u9280\u884c\u306f\u540c\u3058\u8f4d\u3092\u8e0f\u307e\u306a\u3044\u3088\u3046\u306b\u73fe\u91d1\u3092\u6e29\u5b58\u3059\u3079\u304f\u30ed\u30fc\u30f3\u306e\u7d44\u6210\u3092\u8e8a\u8e87\u3059\u308b\u3068\u8a00\u308f\u308c\u3066\u304a\u308a\u3001\u5546\u7528\u4e0d\u52d5\u7523\u3078\u306e\u878d\u8cc7\u304c\u5148\u7d30\u308b\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u61f8\u5ff5\u3055\u308c\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4f8b\u3048\u3070Bridgewater\u5275\u696d\u8005\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35927\" data-type=\"post\" data-id=\"35927\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u9280\u884c\u5371\u6a5f\u304c\u3069\u306e\u3088\u3046\u306b\u4ed6\u306e\u696d\u754c\u306b\u6ce2\u53ca\u3059\u308b\u304b\u3092\u8a9e\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>\u50b5\u5238\u4fa1\u683c\u306e\u4e0b\u843d\u3067\u30c0\u30e1\u30fc\u30b8\u3092\u53d7\u3051\u3066\u3044\u308b\u9280\u884c\u306f\u3001\u66f4\u306a\u308b\u30ed\u30fc\u30f3\u306e\u7d44\u6210\u3092\u907f\u3051\u308b\u3060\u308d\u3046\u3002\u3060\u304c\u3053\u3046\u3044\u3046\u30ed\u30fc\u30f3\u306f\u4f8b\u3048\u3070\u4e0d\u52d5\u7523\u3001\u7279\u306b\u5546\u7528\u4e0d\u52d5\u7523\u5411\u3051\u306e\u3082\u306e\u3060\u3002<\/p>\n\n\n\n<p>\u30b3\u30ed\u30ca\u5f8c\u306b\u5546\u7528\u4e0d\u52d5\u7523\u304c\u4f7f\u308f\u308c\u306a\u304f\u306a\u3063\u305f\u3053\u3068\u306a\u3069\u69d8\u3005\u306a\u8981\u56e0\u3082\u3042\u308a\u3001\u5546\u7528\u4e0d\u52d5\u7523\u306b\u306f\u554f\u984c\u304c\u751f\u3058\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u307e\u305f\u3001\u305d\u3082\u305d\u3082\u30b3\u30ed\u30ca\u5f8c\u306b\u30ea\u30e2\u30fc\u30c8\u30ef\u30fc\u30af\u304c\u4e00\u822c\u7684\u306b\u306a\u3063\u305f\u3053\u3068\u3067\u3001\u30aa\u30d5\u30a3\u30b9\u306e\u4fa1\u5024\u304c\u4e0b\u304c\u3063\u3066\u3044\u308b\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u3044\u3046\u8b70\u8ad6\u3082\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u30c0\u30ea\u30aa\u6c0f\u3089\u306e\u8b70\u8ad6\u306b\u306f\u8cdb\u540c\u3057\u306a\u3044\u3088\u3046\u3060\u3002\u5f7c\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>\u30aa\u30d5\u30a3\u30b9\u30d3\u30eb\u306f\u5546\u7528\u4e0d\u52d5\u7523\u306e\u305f\u3063\u305f20%\u3057\u304b\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u5546\u7528\u4e0d\u52d5\u7523\u3068\u8a00\u3063\u3066\u3082\u69d8\u3005\u3067\u3042\u308a\u3001\u30aa\u30d5\u30a3\u30b9\u30d3\u30eb\u306e\u4ed6\u306b\u306f\u30b7\u30e7\u30c3\u30d4\u30f3\u30b0\u30e2\u30fc\u30eb\u3084\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u3001\u5009\u5eab\u306a\u3069\u591a\u5c90\u306b\u53ca\u3093\u3067\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u51fa\u793e\u65e5\u304c\u6e1b\u3063\u305f\u3053\u3068\u304c\u305d\u306e\u307e\u307e\u4f1a\u793e\u306e\u30b9\u30da\u30fc\u30b9\u7e2e\u5c0f\u306b\u7e4b\u304c\u308b\u308f\u3051\u3067\u3082\u306a\u3044\u3068\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u6307\u6458\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>\u66f4\u306b\u3001\u4eba\u3005\u304c\u90313\u65e5\u3057\u304b\u4ed5\u4e8b\u306b\u6765\u306a\u3044\u304b\u3089\u3068\u3044\u3063\u3066\u3001\u90315\u65e5\u4ed5\u4e8b\u306b\u6765\u3066\u3044\u305f\u6642\u3068\u6bd4\u3079\u306660%\u306e\u30b9\u30da\u30fc\u30b9\u3057\u304b\u5fc5\u8981\u306b\u306a\u3089\u306a\u3044\u3068\u3044\u3046\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u7d50\u5c40\u5168\u54e1\u304c\u51fa\u793e\u3059\u308b\u65e5\u306b\u306f\u5168\u54e1\u3092\u53ce\u5bb9\u3059\u308b\u30b9\u30da\u30fc\u30b9\u304c\u5fc5\u8981\u306b\u306a\u308b\u304b\u3089\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u4e0b\u843d\u3057\u3066\u3044\u308b\u5546\u7528\u4e0d\u52d5\u7523\u306f\u8cb7\u3044\u304b<\/strong><\/p>\n\n\n\n<p>\u5e02\u5834\u3067\u306f\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u3060\u308d\u3046\u304b\u3002\u4f8b\u3048\u3070\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e37%\u3092\u30aa\u30d5\u30a3\u30b9\u5411\u3051\u306e\u30ed\u30fc\u30f3\u304c\u5360\u3081\u308bAres Commercial Real Estate\u306e\u682a\u4fa1\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\/04\/2023-4-23-ares-commercial-real-estate-nyse-acre-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"389\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-23-ares-commercial-real-estate-nyse-acre-chart.png\" alt=\"\" class=\"wp-image-36118\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-23-ares-commercial-real-estate-nyse-acre-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-23-ares-commercial-real-estate-nyse-acre-chart-300x189.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u91d1\u878d\u5f15\u304d\u7de0\u3081\u304c\u9032\u3093\u30602022\u5e74\u304b\u3089\u4e0b\u843d\u30c8\u30ec\u30f3\u30c9\u3060\u304c\u3001\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u304c\u3042\u3063\u305f2023\u5e743\u6708\u306b\u4e0b\u843d\u304c\u52a0\u901f\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u3046\u3057\u305f\u5546\u7528\u4e0d\u52d5\u7523\u306f\u5272\u5b89\u3067\u8cb7\u3044\u3060\u3068\u3044\u3046\u610f\u898b\u3082\u3042\u308b\u3002\u30b3\u30ed\u30ca\u306e\u5f71\u97ff\u306f\u8efd\u5fae\u3068\u898b\u308b\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u610f\u898b\u306e\u4ed6\u306b\u3001\u50b5\u5238\u6295\u8cc7\u5bb6\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f1\u6708\u306b\u3053\u3046\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\/33062\" data-type=\"post\" data-id=\"33062\">\u50b5\u5238\u738b\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u5968\u3081\u308b2023\u5e74\u306e\u50b5\u5238\u6295\u8cc7\u6226\u7565<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u5546\u7528\u4e0d\u52d5\u7523\u30ed\u30fc\u30f3\u3001\u6d88\u8cbb\u8005\u30ed\u30fc\u30f3\u306a\u3069\u3092\u8cb7\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u3089\u306e\u50b5\u5238\u306f\u91d1\u5229\u4e0a\u6607\u306e\u305f\u3081\u306b\u4fa1\u683c\u304c\u5927\u304d\u304f\u4e0b\u304c\u3063\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4e00\u65b9\u3067\u4e0a\u3067\u8ff0\u3079\u305f\u3088\u3046\u306b\u30c0\u30ea\u30aa\u6c0f\u306f\u9280\u884c\u5371\u6a5f\u5f8c\u306e\u4fe1\u7528\u53ce\u7e2e\u306f\u7d9a\u304d\u3001\u5546\u7528\u4e0d\u52d5\u7523\u306b\u30c0\u30e1\u30fc\u30b8\u3092\u4e0e\u3048\u7d9a\u3051\u308b\u3068\u898b\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30b3\u30ed\u30ca\u306e\u5f71\u97ff\u306b\u95a2\u3057\u3066\u306f\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u8b70\u8ad6\u3082\u3082\u3063\u3068\u3082\u306a\u306e\u3060\u304c\u3001\u9280\u884c\u5371\u6a5f\u306f\u30a4\u30f3\u30d5\u30ec\u9000\u6cbb\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u304c\u539f\u56e0\u3068\u306a\u3063\u3066\u3044\u308b\u5927\u304d\u306a\u6ce2\u306e\u4e00\u90e8\u3067\u3042\u308a\u3001\u3053\u306e\u6ce2\u304c\u7d9a\u304f\uff08\u30a4\u30f3\u30d5\u30ec\u9000\u6cbb\u306e\u305f\u3081\u306e\u9ad8\u91d1\u5229\u304c\u7d9a\u304f\uff09\u306e\u3067\u3042\u308c\u3070\u3001\u500b\u4eba\u7684\u306b\u306f\u305d\u306e\u6ce2\u306e\u5f71\u97ff\u3092\u53d7\u3051\u308b\u8cc7\u7523\u306f\u6ce2\u304c\u7d42\u308f\u308b\u307e\u3067\u907f\u3051\u305f\u3044\u3068\u601d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35881\" data-type=\"post\" data-id=\"35881\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u9280\u884c\u5371\u6a5f\u306f\u4e16\u754c\u7d4c\u6e08\u5168\u4f53\u306b\u6ce2\u53ca\u3057\u3066\u7269\u4fa1\u9ad8\u9a30\u304b\u5012\u7523\u5371\u6a5f\u3067\u7d42\u308f\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u5546\u7528\u4e0d\u52d5\u7523\u30ed\u30fc\u30f3\u3092\u8cb7\u3063\u3066\u3044\u308b\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3082\u3001\u9577\u671f\u306e\u7c73\u56fd\u50b5\u3092\u8cb7\u3063\u3066\u30ea\u30b9\u30af\u30aa\u30d5\u306b\u5099\u3048\u308b\u30c8\u30ec\u30fc\u30c9\u3092\u3057\u3066\u3044\u308b\u306e\u3067\u3001\u5546\u7528\u4e0d\u52d5\u7523\u30ed\u30fc\u30f3\u4e00\u672c\u306b\u8ced\u3051\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u4ee5\u6765\u30ea\u30b9\u30af\u30aa\u30d5\u304c\u9032\u3093\u3067\u3044\u308b\u306e\u3067\u3001\u3080\u3057\u308d\u5f7c\u306f\u4eca\u7c73\u56fd\u50b5\u3067\u5132\u3051\u3066\u3044\u308b\u306f\u305a\u3060\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35173\" data-type=\"post\" data-id=\"35173\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u9280\u884c\u5371\u6a5f\u306f\u7d42\u308f\u3063\u3066\u3044\u306a\u3044\u3001\u9810\u91d1\u306f\u66f4\u306b\u9003\u3052\u51fa\u3059<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u7b46\u8005\u306f\u5f53\u5206\u305d\u306e\u30ea\u30b9\u30af\u30aa\u30d5\u30c8\u30ec\u30f3\u30c9\u304c\u9577\u671f\u7684\u306b\u306f\u7d9a\u304f\u3068\u8e0f\u3093\u3067\u3044\u308b\u3002\u682a\u5f0f\u5e02\u5834\u306b\u3064\u3044\u3066\u3082\u540c\u3058\u3067\u3042\u308b\u3002\u7c73\u56fd\u682a\u306f\u7d50\u5c40\u9577\u671f\u30c0\u30a6\u30f3\u30c8\u30ec\u30f3\u30c9\u306e\u57df\u3092\u51fa\u3066\u3044\u306a\u3044\u3057\u3001\u4eca\u5f8c\u534a\u5e74\u306f\u305d\u3046\u306a\u308a\u7d9a\u3051\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-23-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"389\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-23-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-36122\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-23-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-23-s-and-p-500-chart-300x189.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>\u30a2\u30e1\u30ea\u30ab\u306e\u5143\u8ca1\u52d9\u9577\u5b98\u3067\u7d4c\u6e08\u5b66\u8005\u306e\u30e9\u30ea\u30fc\u30fb\u30b5\u30de\u30fc\u30ba\u6c0f\u304cGZERO 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