{"id":37432,"date":"2023-06-13T20:00:00","date_gmt":"2023-06-13T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=37432"},"modified":"2023-06-13T17:04:58","modified_gmt":"2023-06-13T08:04:58","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%e7%b5%8c%e6%b8%88%e3%81%ab%e5%a4%a7%e5%b9%85%e3%81%aa%e5%a2%97%e7%a8%8e%e3%81%8c%e6%9d%a5%e3%82%8b","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37432","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306b\u5927\u5e45\u306a\u5897\u7a0e\u304c\u6765\u308b"},"content":{"rendered":"\n<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u3001\u81ea\u793e\u306e\u30dd\u30c3\u30c9\u30ad\u30e3\u30b9\u30c8\u3067\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u3068\u91d1\u5229\u4e0a\u6607\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u5e9c\u50b5\u52d9<\/strong><\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u653f\u5e9c\u50b5\u52d9\u304c\u7a4d\u307f\u4e0a\u304c\u3063\u3066\u3044\u308b\u3002\u8ab0\u3067\u3082\u77e5\u3063\u3066\u3044\u308b\u3053\u3068\u3060\u304c\u3001\u540c\u6642\u306b\u8ab0\u3082\u6c17\u306b\u3057\u3066\u6765\u306a\u304b\u3063\u305f\u3053\u3068\u3067\u3082\u3042\u308b\u3002<\/p>\n\n\n\n<p>\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>GDP\u6bd4\u306e\u8ca1\u653f\u8d64\u5b57\u306f\u3053\u308c\u307e\u3067\u3069\u3093\u3069\u3093\u60aa\u304f\u306a\u3063\u3066\u304d\u305f\u3002\u305d\u3057\u3066\u6975\u3081\u3064\u3051\u306f\u30b3\u30ed\u30ca\u798d\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>GDP\u6bd4\u306e\u8ca1\u653f\u8d64\u5b57\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u3066\u307f\u3088\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\/06\/2022-us-federal-budget-balance-to-gdp-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"481\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-federal-budget-balance-to-gdp-chart.png\" alt=\"\" class=\"wp-image-37434\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-federal-budget-balance-to-gdp-chart.png 481w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-federal-budget-balance-to-gdp-chart-300x291.png 300w\" sizes=\"auto, (max-width: 481px) 100vw, 481px\" \/><\/a><\/figure>\n\n\n\n<p>\u30b3\u30ed\u30ca\u798d\u306e2020\u5e74\u306b\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u6642\u306e\u6c34\u6e96\u3092\u8d85\u3048\u3066\u7206\u767a\u3057\u305f\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u306f\u3001\u83ab\u5927\u306a\u73fe\u91d1\u7d66\u4ed8\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u3053\u3068\u306b\u3088\u3063\u3066\u30a2\u30e1\u30ea\u30ab\u653f\u5e9c\u304c\u3053\u308c\u4ee5\u4e0a\u306e\u523a\u6fc0\u7b56\u3092\u3067\u304d\u306a\u304f\u306a\u3063\u305f\u3053\u3068\u3067\u5143\u306e\u6c34\u6e96\u306b\u8fd1\u3065\u3044\u3066\u306f\u3044\u308b\u304c\u3001\u50b5\u52d9\u4e0a\u9650\u306e\u554f\u984c\u304c\u89e3\u6c7a\u3055\u308c\u305f\u3053\u3068\u3067\u30a2\u30e1\u30ea\u30ab\u653f\u5e9c\u306f\u518d\u3073\u501f\u91d1\u3092\u5897\u3084\u305d\u3046\u3068\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\/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>\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>\u6700\u8fd1\u901a\u3063\u305f\u4e88\u7b97\u6848\u3092\u8003\u3048\u308b\u3068\u3001\u3053\u306e\u8ca1\u653f\u306e\u554f\u984c\u306f\u826f\u3044\u65b9\u5411\u306b\u306f\u9032\u307e\u306a\u305d\u3046\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3057\u304b\u3082\u3001\u554f\u984c\u306f\u30a2\u30e1\u30ea\u30ab\u306b\u666f\u6c17\u5f8c\u9000\u304c\u307e\u3060\u6765\u3066\u3044\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3060\u3002Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u304c\u30a4\u30f3\u30d5\u30ec\u5bfe\u7b56\u3067\u91d1\u5229\u3092\u30bc\u30ed\u304b\u30895%\u307e\u3067\u4e0a\u3052\u305f\u305f\u3081\u3001\u7b46\u8005\u3092\u542b\u3081\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u666f\u6c17\u5f8c\u9000\u306b\u9665\u308b\u3068\u3044\u3046\u898b\u65b9\u304c\u652f\u914d\u7684\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37318\" data-type=\"post\" data-id=\"37318\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u305d\u308c\u3067\u3082\u7c73\u56fd\u7d4c\u6e08\u306f\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u3059\u308b<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36793\" data-type=\"post\" data-id=\"36793\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u9280\u884c\u5371\u6a5f\u306f\u60aa\u5316\u3057\u30a4\u30f3\u30d5\u30ec\u306f\u6b62\u307e\u3089\u305a\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u306a\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3057\u304b\u3057\u305d\u308c\u3067\u3082\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u307e\u3060\u666f\u6c17\u5f8c\u9000\u306b\u9665\u3063\u3066\u3044\u306a\u3044\u3002\u305d\u308c\u3067\u3082\u8ca1\u653f\u8d64\u5b57\u306f\u304b\u306a\u308a\u9ad8\u3044\u6c34\u6e96\u306b\u3042\u308a\u3001\u3053\u308c\u304b\u3089\u307e\u305f\u518d\u3073\u5897\u52a0\u3057\u3088\u3046\u3068\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\/06\/2022-us-federal-budget-balance-to-gdp-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"481\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-federal-budget-balance-to-gdp-chart.png\" alt=\"\" class=\"wp-image-37434\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-federal-budget-balance-to-gdp-chart.png 481w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-federal-budget-balance-to-gdp-chart-300x291.png 300w\" sizes=\"auto, (max-width: 481px) 100vw, 481px\" \/><\/a><\/figure>\n\n\n\n<p>\u554f\u984c\u306f\u3001\u666f\u6c17\u5f8c\u9000\u304c\u6765\u305f\u3068\u304d\uff08\u7b46\u8005\u306f\u305d\u308c\u3092\u6765\u5e74\u524d\u534a\u3068\u898b\u3066\u3044\u308b\u304c\uff09\u3001\u8ca1\u653f\u8d64\u5b57\u304c\u3069\u3046\u306a\u308b\u304b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\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>\u666f\u6c17\u5f8c\u9000\u306b\u5bfe\u3059\u308b\u8ca1\u653f\u653f\u7b56\u306e\u5bfe\u5fdc\u306f\u5b8c\u5168\u306b\u5236\u5fa1\u4e0d\u80fd\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u6025\u5897\u3057\u305f\u56fd\u50b5\u306e\u5229\u6255\u3044<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u305d\u308c\u3067\u3082\u3001\u3053\u308c\u307e\u3067\u653f\u5e9c\u50b5\u52d9\u306e\u5897\u52a0\u306b\u305d\u308c\u307b\u3069\u6ce8\u610f\u3092\u6255\u3063\u3066\u3044\u308b\u4eba\u306f\u5c45\u306a\u304b\u3063\u305f\u3002\u305d\u306e\u7406\u7531\u306b\u3064\u3044\u3066\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8aac\u660e\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>\u30bc\u30ed\u91d1\u5229\u3060\u3063\u305f\u9593\u306f\u3001\u8d64\u5b57\u3092\u5782\u308c\u6d41\u3057\u3066\u3082\u554f\u984c\u306f\u751f\u3058\u306a\u304b\u3063\u305f\u3002\u5c11\u306a\u304f\u3068\u3082\u81ea\u8ee2\u8eca\u64cd\u696d\u306f\u6210\u308a\u7acb\u3064\u3002\u91d1\u5229\u304c\u5b58\u5728\u3057\u306a\u3044\u9650\u308a\u3001\u3044\u304f\u3089\u3067\u3082\u501f\u91d1\u3092\u5897\u3084\u305b\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u501f\u91d1\u3092\u3044\u304f\u3089\u5897\u3084\u3057\u305f\u3068\u3057\u3066\u3082\u3001\u653f\u5e9c\u304c\u4e2d\u592e\u9280\u884c\u3092\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3057\u3066\u3044\u308b\u9650\u308a\u3001\u91d1\u5229\u3092\u6e1b\u3089\u3057\u3066\u81ea\u5206\u306e\u5229\u6255\u3044\u3092\u6291\u3048\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/p>\n\n\n\n<p>\u91d1\u5229\u3092\u6255\u308f\u306a\u304f\u3066\u826f\u3051\u308c\u3070\u3001\u653f\u5e9c\u306f\u3044\u304f\u3089\u3067\u3082\u8ca1\u653f\u652f\u51fa\u304c\u3067\u304d\u3001\u653f\u6cbb\u5bb6\u306f\u81ea\u5206\u306e\u7968\u7530\u306b\u3044\u304f\u3089\u3067\u3082\u3070\u3089\u6492\u304f\u3053\u3068\u304c\u3067\u304d\u308b\u3068\u3044\u3046\u308f\u3051\u3067\u3042\u308b\u3002\u305d\u3046\u3057\u3066\u6771\u4eac\u4e94\u8f2a\u3084\u5168\u56fd\u65c5\u884c\u652f\u63f4\u306e\u3088\u3046\u306a\u653f\u7b56\u304c\u884c\u308f\u308c\u305f\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>\u3060\u304c\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u3063\u305f\u3002\u91d1\u5229\u3092\u4e0a\u3052\u306a\u3051\u308c\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u9752\u5929\u4e95\u306b\u4e0a\u304c\u3063\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u3067\u30a2\u30e1\u30ea\u30ab\u306f\u91d1\u5229\u3092\u4e0a\u3052\u305f\u308f\u3051\u3067\u3042\u308b\u3002\u305d\u308c\u3067\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306a\u3069\u306e\u5730\u65b9\u9280\u884c\u304c\u6b7b\u3093\u3067\u3044\u308b\u304c\u3001\u6b7b\u3093\u3067\u3044\u308b\u306e\u306f\u5730\u65b9\u9280\u884c\u3060\u3051\u3067\u306f\u306a\u3044\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\u30a2\u30e1\u30ea\u30ab\u653f\u5e9c\u3082\u540c\u3058\u3067\u3042\u308b\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u91d1\u5229\u304c\u4e0a\u304c\u308c\u3070\u3001\u7a4d\u307f\u4e0a\u304c\u3063\u305f\u5927\u91cf\u306e\u56fd\u50b5\u306b\u5bfe\u3057\u3066\u3001\u3053\u308c\u307e\u3067\u307b\u3068\u3093\u3069\u30bc\u30ed\u91d1\u5229\u3060\u3063\u305f\u56fd\u50b5\u306b\u5bfe\u3057\u3066\u3001\u91d1\u5229\u3092\u652f\u6255\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306fGDP\u6bd4\u306e\u56fd\u50b5\u306e\u5229\u6255\u3044\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u4e0a\u3052\u3066\u3044\u308b\u304c\u3001\u305d\u306e\u30b0\u30e9\u30d5\u3092\u898b\u308b\u3068\u56fd\u50b5\u306e\u5229\u6255\u3044\u306f\u5229\u4e0a\u3052\u3067\u6025\u5897\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\/06\/2023-1q-us-federal-government-interest-payments-to-gdp-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-1q-us-federal-government-interest-payments-to-gdp-chart.png\" alt=\"\" class=\"wp-image-37448\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-1q-us-federal-government-interest-payments-to-gdp-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-1q-us-federal-government-interest-payments-to-gdp-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p>\u5229\u4e0a\u3052\u306b\u3088\u3063\u3066\u56fd\u50b5\u306e\u5229\u6255\u3044\u304c\u307b\u307cGDP1%\u5206\u5897\u3048\u305f\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p><strong>\u5229\u6255\u3044\u5897\u52a0\u306e\u7d50\u679c<\/strong><\/p>\n\n\n\n<p>\u4e0a\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u306a\u304b\u306a\u304b\u306e\u898b\u3082\u306e\u3060\u304c\u3001\u3053\u308c\u304b\u3089\u3053\u306e\u72b6\u6cc1\u306f\u9177\u304f\u306a\u308b\u3060\u308d\u3046\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a00\u3046\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u3060\u304c\u4eca\u3084\u8ca1\u653f\u8d64\u5b57\u304c\u62e1\u5927\u3057\u3066\u304a\u308a\u3001\u3057\u304b\u3082\u8ab0\u3067\u3082\u77e5\u3063\u3066\u3044\u308b\u3088\u3046\u306bFed\u304c\u91d1\u5229\u3092\u4e0a\u3052\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u7b46\u8005\u306f\u91d1\u5229\u306f\u5f53\u5206\u3053\u3053\u304b\u3089\u4e0a\u304c\u3089\u306a\u3044\u3068\u898b\u3066\u3044\u308b\u304c\u3001\u3057\u304b\u3057\u30a2\u30e1\u30ea\u30ab\u304c\u8d64\u5b57\u3092\u5782\u308c\u6d41\u3059\u9650\u308a\u3001\u56fd\u50b5\u306e\u767a\u884c\u984d\u306f\u3069\u3093\u3069\u3093\u5897\u3048\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3082\u9ad8\u9f62\u5316\u306b\u3088\u3063\u3066\u5e74\u91d1\uff08\u30a2\u30e1\u30ea\u30ab\u306b\u3082\u4f3c\u305f\u5236\u5ea6\u304c\u3042\u308b\uff09\u306e\u652f\u6255\u3044\u306f\u5897\u3048\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31231\" data-type=\"post\" data-id=\"31231\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u3001\u9ad8\u9f62\u8005\u304c\u82e5\u8005\u304b\u3089\u643e\u53d6\u3059\u308b\u7a0e\u5236\u3092\u75db\u70c8\u6279\u5224<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u5229\u6255\u3044\u306f\u5897\u3048\u3001\u5e74\u91d1\u306e\u652f\u6255\u3044\u3082\u5897\u3048\u3001\u501f\u91d1\u3092\u5897\u3084\u305b\u3070\u5897\u3084\u3059\u307b\u3069\u72b6\u6cc1\u306f\u60aa\u304f\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u8cc7\u91d1\u7e70\u308a\u306b\u8ffd\u3044\u8a70\u3081\u3089\u308c\u305f\u30a2\u30e1\u30ea\u30ab\u653f\u5e9c\u306f\u4f55\u3092\u3059\u308b\u304b\uff1f\u3000\u8a00\u3046\u307e\u3067\u3082\u306a\u3044\u3060\u308d\u3046\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3053\u3046\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>\u3060\u304b\u3089\u30a2\u30e1\u30ea\u30ab\u306f\u3053\u308c\u304b\u3089\u5897\u7a0e\u3092\u884c\u3046\u304b\u3001\u5e74\u91d1\u5236\u5ea6\u3092\u518d\u7de8\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u52ff\u8ad6\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u653e\u7f6e\u3057\u3066\u5229\u4e0a\u3052\u3092\u305b\u305a\u306b\u5229\u6255\u3044\u3092\u5897\u3084\u3055\u306a\u3044\u3068\u3044\u3046\u9078\u629e\u80a2\u3082\u3042\u308b\u3002\u3060\u304c\u305d\u3046\u3059\u308c\u3070\u3001\u56fd\u6c11\u304c\u5f8c\u751f\u5927\u4e8b\u306b\u9280\u884c\u53e3\u5ea7\u306b\u6e9c\u3081\u8fbc\u3093\u3067\u3044\u308b\u7d19\u5e63\u306e\u4fa1\u5024\u304c\u7d19\u5207\u308c\u540c\u7136\u306b\u306a\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u65e5\u672c\u306f\u305d\u306e\u9818\u57df\u306b\u8db3\u3092\u8e0f\u307f\u5165\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u5b9f\u969b\u306b\u306f\u3001\u3069\u306e\u56fd\u3082\u5897\u7a0e\u3068\u3001\u30a4\u30f3\u30d5\u30ec\u306b\u3088\u308b\u7d19\u5e63\u306e\u6e1b\u4fa1\u3068\u3001\u70ba\u66ff\u5e02\u5834\u306b\u304a\u3051\u308b\u81ea\u56fd\u901a\u8ca8\u306e\u66b4\u843d\u306e\u3001\u3059\u3079\u3066\u3092\u3042\u308b\u7a0b\u5ea6\u5408\u308f\u305b\u305f\u3082\u306e\u306b\u76f4\u9762\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3060\u308d\u3046\u3002\u611a\u304b\u306a\u653f\u6cbb\u5bb6\u3092\u652f\u6301\u3057\u305f\u6709\u6a29\u8005\u306e\u81ea\u696d\u81ea\u5f97\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30502\" data-type=\"post\" data-id=\"30502\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u65e5\u672c\u306f\u91d1\u5229\u9ad8\u9a30\u304b\u901a\u8ca8\u66b4\u843d\u304b\u3092\u9078\u3076\u3053\u3068\u306b\u306a\u308b<\/a><\/li>\n\n\n\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","protected":false},"excerpt":{"rendered":"<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u3001\u81ea\u793e\u306e\u30dd\u30c3\u30c9\u30ad\u30e3\u30b9\u30c8\u3067\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u3068\u91d1\u5229\u4e0a\u6607\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":[118,59,111,108],"tags":[131],"class_list":["post-37432","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-us-stock-market","category-stock-markets","category-bond-markets","tag-jeffrey-gundlach"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/37432","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=37432"}],"version-history":[{"count":25,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/37432\/revisions"}],"predecessor-version":[{"id":37459,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/37432\/revisions\/37459"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=37432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=37432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=37432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}