{"id":36324,"date":"2023-05-01T20:01:00","date_gmt":"2023-05-01T11:01:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=36324"},"modified":"2023-05-01T18:26:22","modified_gmt":"2023-05-01T09:26:22","slug":"%e3%82%b5%e3%83%9e%e3%83%bc%e3%82%ba%e6%b0%8f-%e3%82%b9%e3%82%bf%e3%82%b0%e3%83%95%e3%83%ac%e3%83%bc%e3%82%b7%e3%83%a7%e3%83%b3%e3%81%ae%e5%8d%b1%e9%99%ba%e3%81%82%e3%82%8a%e3%80%81%e9%ab%98%e7%a2%ba","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36324","title":{"rendered":"\u30b5\u30de\u30fc\u30ba\u6c0f: \u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306e\u5371\u967a\u3042\u308a\u3001\u9ad8\u78ba\u7387\u3067\u666f\u6c17\u5f8c\u9000\u3078"},"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\u304cBloomberg\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001\u7d42\u76e4\u306b\u5dee\u3057\u639b\u304b\u3063\u3066\u3044\u308b\u30a2\u30e1\u30ea\u30ab\u306e\u5229\u4e0a\u3052\u3068\u5b9f\u4f53\u7d4c\u6e08\u306e\u5148\u884c\u304d\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u6ce8\u76ee\u3059\u308b\u7d4c\u6e08\u6307\u6a19<\/strong><\/p>\n\n\n\n<p>\u6700\u8fd1\u306fGDP\u306a\u3069\u5927\u304d\u306a\u7d4c\u6e08\u30c7\u30fc\u30bf\u306e\u767a\u8868\u3082\u3042\u308a\u3001\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u4eca\u3069\u306e\u7d4c\u6e08\u6307\u6a19\u306b\u6ce8\u76ee\u3057\u3066\u3044\u308b\u304b\u3092\u805e\u304b\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36252\" data-type=\"post\" data-id=\"36252\">\u307e\u3059\u307e\u3059\u5f31\u3063\u3066\u3086\u304f\u30a2\u30e1\u30ea\u30abGDP\u30012023\u5e74\u7b2c1\u56db\u534a\u671f\u306f\u4e88\u60f3\u4ee5\u4e0a\u306e\u6e1b\u901f<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u30b5\u30de\u30fc\u30ba\u6c0f\u306b\u3068\u3063\u3066\u306e\u6700\u91cd\u8981\u6307\u6a19\u306fGDP\u3067\u306f\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>\u81ea\u5206\u306fECI\uff08\u8a33\u6ce8\uff1a\u96c7\u7528\u8cbb\u7528\u6307\u6570\uff09\u306b\u6ce8\u76ee\u3057\u3066\u304d\u305f\u3002\u7406\u7531\u306f\u3001\u52b4\u50cd\u5e02\u5834\u304c\u30a4\u30f3\u30d5\u30ec\u306e\u9032\u884c\u306b\u95a2\u3057\u3066\u9375\u3068\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u3001\u56db\u534a\u671f\u3054\u3068\u306b\u3057\u304b\u767a\u8868\u3055\u308c\u306a\u3044\u3053\u3068\u3001\u305d\u3057\u3066\u30dc\u30fc\u30ca\u30b9\u3084\u52b4\u50cd\u529b\u306e\u69cb\u6210\u306e\u5909\u5316\u306a\u3069\u306e\u8abf\u6574\u3082\u8003\u616e\u3059\u308b\u3001\u8cc3\u91d1\u30a4\u30f3\u30d5\u30ec\u306b\u95a2\u3059\u308b\u6700\u826f\u306e\u6570\u5b57\u3060\u304b\u3089\u3060\u3002<\/p>\n\n\n\n<p>ECI\u306e\u4e0a\u6607\u7387\u306f4.8%\u7a0b\u5ea6\u3067\u3001\u5e74\u9593\u306e\u4e0a\u6607\u3082\u56db\u534a\u671f\u306e\u4e0a\u6607\u3082\u304b\u306a\u308a\u5f37\u304b\u3063\u305f\u3002\u8cc3\u91d1\u30a4\u30f3\u30d5\u30ec\u304c\u6e1b\u901f\u3057\u3066\u3044\u308b\u8a3c\u62e0\u306f\u3042\u307e\u308a\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>ECI\u306f\u524d\u671f\u6bd4\u5e74\u7387\u30674.7%\u3068\u306a\u3063\u3066\u3044\u308b\u3002\u30b0\u30e9\u30d5\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u3063\u3066\u304a\u308a\u3001\u4e00\u5ea6\u6e1b\u901f\u3057\u3066\u304b\u3089\u3084\u3084\u6301\u3061\u76f4\u3057\u305f\u5f62\u3060\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-1q-us-employment-cost-index-growth-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-1q-us-employment-cost-index-growth-chart.png\" alt=\"\" class=\"wp-image-36326\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-1q-us-employment-cost-index-growth-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-1q-us-employment-cost-index-growth-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p>\u8cc3\u91d1\u306f\u30b5\u30fc\u30d3\u30b9\u696d\u306e\u4e3b\u306a\u30b3\u30b9\u30c8\u306b\u306a\u308b\u306e\u3067\u3001\u30a4\u30f3\u30d5\u30ec\u306b\u3068\u3063\u3066\u91cd\u8981\u3067\u3042\u308b\u3002\u3060\u304c\u5c11\u306a\u304f\u3068\u3082\u8cc3\u91d1\u306f\u9ad8\u6b62\u307e\u308a\u3057\u3066\u3044\u308b\u3053\u3068\u306f\u9593\u9055\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p><strong>\u9ad8\u6b62\u307e\u308a\u3059\u308b\u30a4\u30f3\u30d5\u30ec\u3068\u60aa\u5316\u3059\u308b\u9280\u884c\u5371\u6a5f<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u4e00\u65b9\u3067\u3001\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u5168\u9762\u7684\u306b\u5f37\u3044\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u306b\u59cb\u307e\u308b\u9280\u884c\u5371\u6a5f\u306f\u78ba\u5b9f\u306b\u60aa\u5316\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u6570\u65e5\u524d\u306b\u3053\u3053\u3067\u3082\u682a\u4fa1\u306e\u66b4\u843d\u3092\u5831\u3058\u305f\u30d5\u30a1\u30fc\u30b9\u30c8\u30ea\u30d1\u30d6\u30ea\u30c3\u30af\u9280\u884c\u306f\u3001\u9810\u91d1\u6d41\u51fa\u3092\u6b62\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u305a\u30015\u67081\u65e5\u306b\u6b63\u5f0f\u306b\u7834\u7dbb\u3057\u305f\u3002\u6b8b\u5b58\u8cc7\u7523\u306fJP\u30e2\u30eb\u30ac\u30f3\u306b\u58f2\u3089\u308c\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36234\" data-type=\"post\" data-id=\"36234\">\u30d5\u30a1\u30fc\u30b9\u30c8\u30ea\u30d1\u30d6\u30ea\u30c3\u30af\u9280\u884c\u306e\u682a\u4fa1\u30012\u65e5\u30676\u5272\u66b4\u843d\u3001\u9280\u884c\u5371\u6a5f\u306f\u60aa\u5316\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u73fe\u5728\u304b\u306a\u308a\u3044\u3073\u3064\u3067\u3042\u308b\u3002GDP\u304c\u6d88\u8cbb\u306e\u5927\u5e45\u306a\u5897\u52a0\u3068\u6295\u8cc7\u306e\u5927\u5e45\u306a\u6e1b\u5c11\u306e\u7d50\u679c\u6e1b\u901f\u3068\u306a\u3063\u305f\u3053\u3068\u3082\u305d\u3046\u3060\u304c\u3001\u5229\u4e0a\u3052\u3067\u30c0\u30e1\u30fc\u30b8\u3092\u53d7\u3051\u3066\u3044\u308b\u90e8\u9580\u3068\u300c\u307e\u3060\u300d\u30c0\u30e1\u30fc\u30b8\u3092\u53d7\u3051\u3066\u3044\u306a\u3044\u90e8\u9580\u306e\u5dee\u304c\u5927\u304d\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36252\" data-type=\"post\" data-id=\"36252\">\u307e\u3059\u307e\u3059\u5f31\u3063\u3066\u3086\u304f\u30a2\u30e1\u30ea\u30abGDP\u30012023\u5e74\u7b2c1\u56db\u534a\u671f\u306f\u4e88\u60f3\u4ee5\u4e0a\u306e\u6e1b\u901f<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u4e0d\u52d5\u7523\u4fa1\u683c\u304c\u4e0a\u6607\u306b\u8ee2\u3058\u3066\u3044\u308b\u554f\u984c\u3082\u542b\u3081\u3001\u7269\u4fa1\u306e\u90e8\u5206\u304c\u6e1b\u901f\u3057\u306a\u3044\u306e\u3067\u3042\u308c\u3070\u4e2d\u592e\u9280\u884c\u306f\u9ad8\u91d1\u5229\u3092\u7d99\u7d9a\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36215\" data-type=\"post\" data-id=\"36215\">\u4e0b\u843d\u3057\u7d9a\u3051\u3066\u3044\u305f\u30a2\u30e1\u30ea\u30ab\u306e\u4f4f\u5b85\u4fa1\u683c\u304c\u4e0a\u6607\u306b\u8ee2\u3058\u308b\u3001\u30a4\u30f3\u30d5\u30ec\u518d\u71c3\u304b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3057\u304b\u3057\u305d\u3046\u3059\u308c\u3070\u3001\u5730\u65b9\u9280\u884c\u306e\u3088\u3046\u306b\u65e2\u306b\u304b\u306a\u308a\u30c0\u30e1\u30fc\u30b8\u3092\u53d7\u3051\u3066\u3044\u308b\u90e8\u9580\u306f\u66f4\u306b\u6df1\u523b\u306a\u5371\u6a5f\u306b\u9665\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u30b5\u30de\u30fc\u30ba\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>\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306e\u554f\u984c\u304c\u591a\u5c11\u6301\u3061\u4e0a\u304c\u3063\u3066\u304d\u3066\u3044\u308b\u3088\u3046\u3060\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u306f\u57fa\u672c\u7684\u306b\u76ee\u6a19\u3092\u5927\u5e45\u306b\u8d85\u3048\u3066\u304a\u308a\u30011\u5e74\u534a\u306e\u3042\u3044\u3060\u308f\u305f\u3057\u304c\u8a00\u3044\u7d9a\u3051\u3066\u3044\u308b\u3088\u3046\u306b\u3001\u305d\u308c\u76f8\u5fdc\u306e\u7d4c\u6e08\u306e\u6e1b\u901f\u304c\u306a\u3051\u308c\u3070\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u76ee\u6a19\u307e\u3067\u623b\u3089\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3069\u308c\u3060\u3051\u7d4c\u6e08\u304c\u75db\u3093\u3067\u3082\u30a4\u30f3\u30d5\u30ec\u7387\u3060\u3051\u9ad8\u6b62\u307e\u308a\u3059\u308b\u72b6\u6cc1\u304c\u30a4\u30f3\u30d5\u30ec\u306e\u3082\u3063\u3068\u3082\u6050\u308d\u3057\u3044\u3068\u3053\u308d\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u305d\u308c\u306b\u8fd1\u3065\u3044\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u7a81\u5165\u3078<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u7269\u4fa1\u4e0a\u6607\u3068\u666f\u6c17\u5f8c\u9000\u304c\u540c\u6642\u306b\u6765\u308b\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306a\u3069\u3001\u3053\u3053\u306e\u8aad\u8005\u306b\u3068\u3063\u3066\u306f\u30cb\u30e5\u30fc\u30b9\u3067\u3082\u4f55\u3067\u3082\u306a\u3044\u3002\u305d\u308c\u306f\u53bb\u5e74\u306e\u59cb\u3081\u306e\u6bb5\u968e\u3067\u7b46\u8005\u304c\u4e88\u60f3\u3057\u3066\u3044\u305f\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/18949\" data-type=\"post\" data-id=\"18949\">2022\u5e74\u306e\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u6295\u8cc7\u3059\u308b\u65b9\u6cd5 (2022\/1\/20)<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u3057\u3066\u50b5\u5238\u5e02\u5834\u306f\u7b46\u8005\u306e\u4e88\u60f3\u901a\u308a\u305d\u308c\u3092\u53bb\u5e74\u306e\u6625\u304b\u3089\u7e54\u308a\u8fbc\u307f\u59cb\u3081\u3001\u4eca\u306a\u304a\u9577\u77ed\u91d1\u5229\u3092\u9006\u8ee2\u3055\u305b\u7d9a\u3051\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/22559\" data-type=\"post\" data-id=\"22559\">\u9577\u77ed\u91d1\u5229\u9006\u8ee2\u3092\u4e88\u6e2c\u3067\u304d\u305f\u7406\u7531\u3068\u4eca\u5f8c\u306e\u4e0d\u6cc1\u3068\u682a\u4fa1\u66b4\u843d\u306b\u3064\u3044\u3066 (2022\/4\/4)<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u901a\u5e38\u9577\u671f\u91d1\u5229\u304c\u77ed\u671f\u91d1\u5229\u3088\u308a\u3082\u9ad8\u304f\u306a\u308b\u50b5\u5238\u5e02\u5834\u3067\u3001\u4eca\u306e\u3088\u3046\u306b\u77ed\u671f\u306e\u307b\u3046\u304c\u91d1\u5229\u304c\u9ad8\u304f\u306a\u308b\u306e\u306f\u3001\u77ed\u671f\u7684\u306a\u5229\u4e0a\u3052\u306b\u3088\u3063\u3066\u9577\u671f\u7684\u306b\u306f\u7d4c\u6e08\u304c\u6e1b\u901f\u3059\u308b\u3068\u50b5\u5238\u5e02\u5834\u304c\u4e88\u60f3\u3059\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>10\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u304b\u30892\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u3092\u5f15\u3044\u305f\u9577\u77ed\u91d1\u5229\u5dee\u306f\u4ee5\u4e0b\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\/05\/2023-5-1-us-10-year-treasury-yield-minus-2-year-treasury-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-5-1-us-10-year-treasury-yield-minus-2-year-treasury-yield-chart.png\" alt=\"\" class=\"wp-image-36330\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-5-1-us-10-year-treasury-yield-minus-2-year-treasury-yield-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-5-1-us-10-year-treasury-yield-minus-2-year-treasury-yield-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u6b74\u53f2\u7684\u306b\u306f\u9577\u77ed\u91d1\u5229\u5dee\u306e\u9006\u8ee2\u304c\u8d77\u3053\u3063\u305f\u5f8c\u306b\u306f\u307b\u3068\u3093\u3069\u4f8b\u5916\u306a\u304f\u666f\u6c17\u5f8c\u9000\u304c\u8d77\u304d\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u878d\u653f\u7b56\u898b\u901a\u3057<\/strong><\/p>\n\n\n\n<p>\u3053\u306e\u72b6\u6cc1\u3067Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306f\u3069\u3046\u3059\u308b\u3079\u304d\u3060\u308d\u3046\u304b\u3002\u7c73\u56fd\u6642\u9593\u30675\u67083\u65e5\u306b\u306f\u91d1\u878d\u653f\u7b56\u6c7a\u5b9a\u4f1a\u5408\u3067\u3042\u308bFOMC\u4f1a\u5408\u3092\u63a7\u3048\u3066\u304a\u308a\u3001\u30b5\u30de\u30fc\u30ba\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>\u3053\u308c\u306fFed\u304c\u7d4c\u6e08\u306e\u6e1b\u901f\u3092\u76ee\u6307\u3059\u3079\u304d\u3060\u3068\u3044\u3046\u3053\u3068\u3092\u610f\u5473\u3059\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u3060\u304cFed\u304c\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u306b\u5fc5\u8981\u306a\u3053\u3068\u3092\u3059\u308b\u306a\u3089\u3070\u3001\u7d4c\u6e08\u6e1b\u901f\u306f\u8d77\u3053\u308a\u305d\u3046\u3060\u3002<\/p>\n\n\n\n<p>\u4eca\u5f8c12\u30f6\u6708\u3067\u305d\u3046\u306a\u308b\u53ef\u80fd\u6027\u306f\u304b\u306a\u308a\u9ad8\u3044\u3002\u6050\u3089\u304f70%\u307b\u3069\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u307e\u305f\u30013\u65e5\u306eFOMC\u4f1a\u5408\u306b\u3064\u3044\u3066\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\u306f5\u6708\u306b\u306f\u5229\u4e0a\u3052\u3092\u3059\u308b\u3079\u304d\u3060\u3002\u3060\u304c\u9280\u884c\u306e\u554f\u984c\u3092\u8003\u3048\u308c\u30706\u6708\u306b\u3069\u3046\u3059\u308b\u304b\u306f\u8b70\u8ad6\u304c\u3042\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u3053\u306e\u3088\u3046\u306b\u3001\u307b\u3068\u3093\u3069\u306e\u5c02\u9580\u5bb6\u304c\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306b\u3064\u3044\u3066\u5f31\u6c17\u306a\u898b\u65b9\u3092\u3057\u3066\u3044\u308b\u3002\u7015\u6b7b\u306e\u9280\u884c\u305f\u3061\u3092\u5f15\u304d\u305a\u308a\u56de\u3057\u306a\u304c\u3089\u3082\u9ad8\u91d1\u5229\u3092\u7d9a\u3051\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u306e\u3060\u304b\u3089\u5f53\u7136\u3067\u3042\u308b\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\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35667\" data-type=\"post\" data-id=\"35667\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u9280\u884c\u5371\u6a5f\u5f8c\u306b\u4e2d\u5c0f\u4f01\u696d\u306f\u304a\u91d1\u304c\u501f\u308a\u3089\u308c\u306a\u304f\u306a\u3063\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u682a\u5f0f\u5e02\u5834\u3092\u77ed\u671f\u7684\u306a\u52d5\u304d\u3060\u3051\u898b\u308c\u3070\u3001\u305d\u306e\u3088\u3046\u306a\u3053\u3068\u306f\u6c17\u306b\u3057\u3066\u3044\u306a\u3044\u3088\u3046\u306b\u898b\u3048\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\/05\/2023-5-1-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\/05\/2023-5-1-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-36334\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-5-1-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-5-1-s-and-p-500-chart-300x189.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u3060\u304c\u7d4c\u9a13\u306e\u3042\u308b\u6295\u8cc7\u5bb6\u3067\u3042\u308c\u3070\u7b46\u8005\u306e\u8a00\u3044\u305f\u3044\u3053\u3068\u304c\u3042\u308b\u3060\u308d\u3046\u3002\u898b\u98fd\u304d\u305f\u6620\u753b\u3067\u306f\u306a\u3044\u304b\u3002\u4e2d\u592e\u9280\u884c\u304c\u30a2\u30b0\u30ec\u30c3\u30b7\u30d6\u306a\u5229\u4e0a\u3052\u3092\u884c\u306a\u3044\u3001\u4f55\u51e6\u304b\u3067\u4f55\u304b\u304c\u7834\u7dbb\u3057\u3066\u3001\u660e\u3089\u304b\u306b\u7d4c\u6e08\u306f\u666f\u6c17\u5f8c\u9000\u306b\u5411\u304b\u3063\u3066\u3044\u308b\u304c\u3001\u682a\u5f0f\u5e02\u5834\u306f\u305d\u308c\u3092\u7121\u8996\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3042\u307e\u308a\u306b\u3082\u898b\u98fd\u304d\u305f\u6620\u753b\u3067\u306f\u306a\u3044\u304b\u3002\u76f4\u8fd1\u3067\u306f2018\u5e74\u304c\u305d\u3046\u3060\u3063\u305f\u3002\u3060\u304c\u305d\u3093\u306a\u3053\u3068\u306f\u6b74\u53f2\u4e0a\u4f55\u5ea6\u3067\u3082\u8d77\u304d\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>2018\u5e74\u5f53\u6642\u306e\u8a18\u4e8b\u304c\u6b8b\u3063\u3066\u3044\u308b\u306e\u3067\u3001\u682a\u5f0f\u5e02\u5834\u304c\u30c0\u30f3\u30b9\u3092\u697d\u3057\u3093\u3067\u3044\u308b\u9593\u306b\u5f53\u6642\u306e\u5229\u4e0a\u3052\u306b\u3088\u308b\u4e16\u754c\u540c\u6642\u682a\u5b89\u306e\u3053\u3068\u3092\u601d\u3044\u51fa\u3057\u3066\u304a\u304f\u306e\u3082\u826f\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/7927\" data-type=\"post\" data-id=\"7927\">\u30d0\u30d6\u30eb\u306e\u9802\u70b9\u3067\u65e5\u7d4c\u5e73\u5747\u306f\u4e0a\u6607\u3001\u7a7a\u58f2\u308a\u3092\u6de1\u3005\u3068\u7d99\u7d9a (2018\/9\/20)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/7959\" data-type=\"post\" data-id=\"7959\">\u4e16\u754c\u540c\u6642\u682a\u5b89\u3092\u4e88\u60f3\u3067\u304d\u305f\u7406\u7531\u3068\u682a\u4fa1\u4e0b\u843d\u306e\u539f\u56e0 (2018\/10\/28)<\/a><\/li>\n<\/ul>\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\u304cBloomberg\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001\u7d42\u76e4\u306b\u5dee\u3057\u639b\u304b\u3063\u3066\u3044\u308b\u30a2\u30e1\u30ea\u30ab\u306e\u5229\u4e0a\u3052\u3068\u5b9f\u4f53\u7d4c\u6e08\u306e\u5148\u884c\u304d\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":[98],"class_list":["post-36324","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-us-bond-market","category-stock-markets","category-bond-markets","tag-larry-summers"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/36324","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=36324"}],"version-history":[{"count":26,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/36324\/revisions"}],"predecessor-version":[{"id":36354,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/36324\/revisions\/36354"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=36324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=36324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=36324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}