{"id":39733,"date":"2023-09-10T20:07:08","date_gmt":"2023-09-10T11:07:08","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=39733"},"modified":"2023-09-10T20:07:09","modified_gmt":"2023-09-10T11:07:09","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e3%82%b3%e3%83%ad%e3%83%8a%e5%be%8c%e3%81%ae%e7%b7%a9%e5%92%8c%e3%81%ab%e3%82%88%e3%82%8b%e5%a5%bd%e6%99%af%e6%b0%97%e3%81%af%e3%81%9d","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/39733","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30b3\u30ed\u30ca\u5f8c\u306e\u7de9\u548c\u306b\u3088\u308b\u597d\u666f\u6c17\u306f\u305d\u308d\u305d\u308d\u7d42\u308f\u308a\u3001\u7c73\u56fd\u7d4c\u6e08\u306f\u6e1b\u901f\u3059\u308b"},"content":{"rendered":"\n<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cFOX Business\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u73fe\u72b6\u3068\u4eca\u5f8c\u306e\u898b\u901a\u3057\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\u5f8c\u306e\u7c73\u56fd\u7d4c\u6e08<\/strong><\/p>\n\n\n\n<p>\u524d\u306b\u3082\u66f8\u3044\u305f\u304c\u3001\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306fFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u5229\u4e0a\u3052\u306b\u3088\u304f\u8010\u3048\u3066\u3044\u308b\u3002\u4eca\u5e74\u306e\u524d\u534a\u306b\u306f\u9ad8\u91d1\u5229\u304c\u539f\u56e0\u3067\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306a\u3069\u306e\u5730\u65b9\u9280\u884c\u304c\u3044\u304f\u3064\u304b\u7834\u7dbb\u3057\u305f\u304c\u3001Fed\u304c\u6025\u907d\u7d19\u5e63\u5370\u5237\u3092\u3057\u3066\u6551\u6e08\u63aa\u7f6e\u3092\u884c\u306a\u3063\u305f\u3053\u3068\u3067\u3001\u305d\u306e\u5f8c\u3082\u3046\u4f55\u30f6\u6708\u3082\u9280\u884c\u7834\u7dbb\u306f\u8d77\u304d\u3066\u3044\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\u306e\u3053\u3068\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>\u66f4\u306a\u308b\u9280\u884c\u7834\u7dbb\u304c\u3042\u308b\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u601d\u3063\u305f\u304c\u30012\u30f6\u6708\u306e\u6df7\u4e71\u306e\u3042\u3068\u3001\u554f\u984c\u306f\u304b\u306a\u308a\u843d\u3061\u7740\u3044\u305f\u3088\u3046\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u305d\u3046\u306a\u3063\u305f\u7406\u7531\u306f\u3068\u8a00\u3048\u3070\u3001\u4e0a\u306b\u66f8\u3044\u305f\u7d19\u5e63\u5370\u5237\u3067\u3042\u308b\u3002Fed\u306f\u5143\u3005\u30a4\u30f3\u30d5\u30ec\u6253\u5012\u306e\u305f\u3081\u306b\u91cf\u7684\u7de9\u548c\u3067\u81a8\u3089\u3093\u3060\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u3092\u7e2e\u5c0f\u3059\u308b\u91cf\u7684\u5f15\u304d\u7de0\u3081\u3092\u884c\u306a\u3063\u3066\u3044\u305f\u304c\u3001\u9810\u91d1\u8005\u6551\u6e08\u306e\u305f\u3081\u306b\u5927\u91cf\u306e\u7d19\u5e63\u5370\u5237\u3092\u540c\u6642\u306b\u884c\u306a\u3063\u305f\u305f\u3081\u3001\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u306f\u4e00\u6642\u5897\u52a0\u306b\u8ee2\u3058\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<p>\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u306e\u5897\u52a0\u306f\u5373\u3061\u91cf\u7684\u7de9\u548c\u3067\u3042\u308b\u3002Fed\u306f\u9280\u884c\u6551\u6e08\u306e\u305f\u3081\u306b\u5b9f\u8cea\u7684\u306b\u91cf\u7684\u7de9\u548c\u3092\u884c\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u3063\u305f\u3002\u305d\u308c\u304c\u6050\u3089\u304f\u3001\u3053\u3053\u6570\u30f6\u6708\u306e\u682a\u9ad8\u306e\u7406\u7531\u3067\u3082\u3042\u3063\u305f\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u5f53\u6642\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\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\/34751\" data-type=\"post\" data-id=\"34751\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3001\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u7834\u7dbb\u3067\u30a4\u30f3\u30d5\u30ec\u60aa\u5316\u4e88\u60f3 (2023\/3\/18)<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u3053\u308c\u306f\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u3060\u3002\u305d\u3057\u3066\u305d\u308c\u306f\u3082\u3057\u304b\u3059\u308b\u3068\u77ed\u671f\u7684\u306b\u30ea\u30b9\u30af\u8cc7\u7523\u306b\u30d7\u30e9\u30b9\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u30ea\u30b9\u30af\u8cc7\u7523\u306f\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u3068\u4e2d\u592e\u9280\u884c\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u62e1\u5927\u304c\u5927\u597d\u304d\u3060\u304b\u3089\u3060\u3002\u5f8c\u8005\u306f\u3082\u3046\u9577\u3044\u9593\u9078\u629e\u80a2\u306b\u306a\u304b\u3063\u305f\u3082\u306e\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u305d\u3057\u3066\u5b9f\u969b\u3001\u7c73\u56fd\u682a\u306f\u4e0a\u304c\u3063\u3066\u3044\u308b\u3002\u3053\u306e\u6642\u306e\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u6307\u6458\u306f\u6b63\u3057\u304b\u3063\u305f\u306e\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\/09\/2023-9-10-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\/09\/2023-9-10-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-39741\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/09\/2023-9-10-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/09\/2023-9-10-s-and-p-500-chart-300x189.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u3060\u304c\u7c73\u56fd\u682a\u306b\u3068\u3063\u3066\u60aa\u3044\u77e5\u3089\u305b\u306f\u3001\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u306e\u5897\u52a0\u306f\u9280\u884c\u5371\u6a5f\u306e\u53ce\u675f\u306b\u3088\u3063\u3066\u7d42\u4e86\u3057\u3001\u6700\u65b0\u30c7\u30fc\u30bf\u3067\u306f\u518d\u3073\u6e1b\u5c11\u306b\u8ee2\u3058\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\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\/09\/2023-jul-us-monetary-base-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/09\/2023-jul-us-monetary-base-chart.png\" alt=\"\" class=\"wp-image-39632\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/09\/2023-jul-us-monetary-base-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/09\/2023-jul-us-monetary-base-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u7d42\u4e86\u3059\u308b\u7de9\u548c\u30de\u30cd\u30fc<\/strong><\/p>\n\n\n\n<p>\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>\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u8ee2\u63db\u671f\u306b\u6765\u3066\u3044\u308b\u3068\u601d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4f55\u6545\u304b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u304c\u5229\u4e0a\u3052\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3053\u3053\u307e\u3067\u3082\u3063\u305f\u7406\u7531\u306b\u8a00\u53ca\u3059\u308b\u3002\u305d\u308c\u306f\u5e02\u4e2d\u306b\u5b58\u5728\u3059\u308b\u9810\u91d1\u3068\u73fe\u91d1\u306e\u7dcf\u91cf\u3067\u3042\u308b\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u3067\u3042\u308b\u3002\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\uff08M2\uff09\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\/09\/2023-jul-us-real-m2-money-stock-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/09\/2023-jul-us-real-m2-money-stock-chart.png\" alt=\"\" class=\"wp-image-39711\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/09\/2023-jul-us-real-m2-money-stock-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/09\/2023-jul-us-real-m2-money-stock-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3053\u306e\u30c1\u30e3\u30fc\u30c8\u306b\u3064\u3044\u3066\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>M2\u306f1\u5e74\u524d\u306b\u6bd4\u3079\u308b\u3068\u6e1b\u5c11\u3057\u3066\u3044\u308b\u3002\u591a\u304f\u306e\u30de\u30cd\u30bf\u30ea\u30b9\u30c8\u305f\u3061\u306f\u305d\u308c\u3092\u7406\u7531\u306b\u4eca\u5e74\u306e\u7b2c2\u56db\u534a\u671f\u307e\u3067\u306b\u306f\u666f\u6c17\u5f8c\u9000\u3057\u3066\u3044\u308b\u306f\u305a\u3060\u3068\u8003\u3048\u305f\u3002\u3060\u304cM2\u306f1\u5e74\u524d\u3088\u308a\u3082\u6e1b\u5c11\u3057\u3066\u3044\u308b\u304c\u30012\u30013\u5e74\u524d\u3068\u6bd4\u8f03\u3059\u308b\u3068\u5927\u304d\u304f\u5897\u52a0\u3057\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3053\u308c\u306f\u5143\u3005\u30af\u30a9\u30f3\u30bf\u30e0\u30fb\u30d5\u30a1\u30f3\u30c9\u51fa\u8eab\u306e\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u304c\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u6307\u6458\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\/36808\" data-type=\"post\" data-id=\"36808\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3088\u308a\u9177\u304f\u306a\u308b\u53ef\u80fd\u6027\u306f\u5426\u5b9a\u3067\u304d\u306a\u3044 (2023\/5\/14)<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u3053\u306e\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u3082\u6765\u5e74\u524d\u534a\u306b\u304b\u3051\u3066\u30b3\u30ed\u30ca\u524d\u306e\u6c34\u6e96\u307e\u3067\u623b\u3063\u3066\u3086\u304f\u3002\u8cc7\u91d1\u306f\u5f15\u304d\u63da\u3052\u3089\u308c\u3066\u884c\u3063\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u4f59\u5270\u8caf\u84c4<\/strong><\/p>\n\n\n\n<p>\u307e\u305f\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u4ed6\u306e\u6307\u6a19\u306b\u3082\u8a00\u53ca\u3059\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>1\u6708\u524d\u534a\u306b\u300c\u4f59\u5270\u8caf\u84c4\u300d\u306e\u3053\u3068\u3092\u7b11\u3044\u306e\u7a2e\u306b\u3057\u305f\u3002\u4eba\u3005\u306f\u300c\u4f59\u5270\u8caf\u84c4\u300d\u306f\u307e\u3060\u591a\u304f\u6b8b\u3063\u3066\u3044\u308b\u3068\u8a00\u3063\u3066\u3044\u305f\u304c\u3001\u300c\u4f59\u5270\u8caf\u84c4\u300d\u3068\u306f\u4f55\u3060\uff1f\u3000\u8caf\u84c4\u3068\u306f\u4f55\u304c\u9055\u3046\uff1f<\/p>\n<\/blockquote>\n\n\n\n<p>\u4f59\u5270\u8caf\u84c4\u3068\u3044\u3046\u306e\u306f\u3001\u30b3\u30ed\u30ca\u798d\u306e\u73fe\u91d1\u7d66\u4ed8\u306a\u3069\u306e\u653f\u7b56\u306b\u3088\u3063\u3066\u7a4d\u307f\u4e0a\u3052\u3089\u308c\u305f\u5bb6\u8a08\u306e\u8caf\u84c4\u306e\u3053\u3068\u3067\u3042\u308b\u3002Fed\u306a\u3069\u304c\u305d\u308c\u3092\u5206\u6790\u3059\u308b\u30ec\u30dd\u30fc\u30c8\u3092\u767a\u8868\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u304c\u5229\u4e0a\u3052\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3053\u3053\u307e\u3067\u3082\u3063\u305f\u306e\u306f\u3001\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u306a\u3069\u3067\u3082\u5206\u304b\u308b\u3088\u3046\u306b\u73fe\u91d1\u7d66\u4ed8\u306a\u3069\u306b\u3088\u308b\u653f\u5e9c\u306e\u8cc7\u91d1\u4f9b\u7d66\u304c\u30012023\u5e74\u306b\u306a\u3063\u305f\u4eca\u3067\u3082\u307e\u3060\u7d4c\u6e08\u306e\u306a\u304b\u306b\u6b8b\u3063\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306b\u3088\u308c\u3070\u3001\u305d\u306e\u304a\u91d1\u3082\u6d88\u3048\u53bb\u308a\u3064\u3064\u3042\u308b\u3002\u5f7c\u306f\u3053\u3046\u7d9a\u3051\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\u304c\u7d4c\u6e08\u7d71\u8a08\u306f\u5927\u304d\u304f\u5909\u5316\u3057\u305f\u3002\u591a\u304f\u306e\u30c7\u30fc\u30bf\u304c\u3053\u3053\u6570\u30f6\u6708\u3067\u6025\u901f\u306b\u5909\u5316\u3057\u3066\u3044\u308b\u3002\u300c\u4f59\u5270\u8caf\u84c4\u300d\u3082\u9042\u306b\u30de\u30a4\u30ca\u30b9\u306b\u306a\u308d\u3046\u3068\u3057\u3066\u3044\u308b\u3002\u3060\u304b\u3089\u30b3\u30ed\u30ca\u5f8c\u306e\u7de9\u548c\u306f\u3082\u3046\u5b8c\u5168\u306b\u306a\u304f\u306a\u308d\u3046\u3068\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p>\u30b3\u30ed\u30ca\u5f8c\u306b\u7d4c\u6e08\u306b\u6ce8\u5165\u3055\u308c\u305f\u99ac\u9e7f\u3052\u305f\u91d1\u306f\u3082\u3046\u6d88\u3048\u53bb\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u51fa\u6765\u4e0a\u304c\u3063\u305f\u306e\u306f\u5371\u967a\u306a\u30ab\u30af\u30c6\u30eb\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u5371\u967a\u306a\u30ab\u30af\u30c6\u30eb\u3068\u306f\u3001\u653f\u5e9c\u306b\u3088\u308b\u8cc7\u91d1\u6ce8\u5165\u306b\u3088\u3063\u3066\u7518\u3084\u304b\u3055\u308c\u305f\u6d88\u8cbb\u8005\u306e\u632f\u308b\u821e\u3044\u3068\u3001\u7de9\u548c\u30de\u30cd\u30fc\u304c\u6d88\u3048\u53bb\u308a\u3064\u3064\u3042\u308b\u3068\u3044\u3046\u4e8b\u5b9f\u306e\u7d44\u307f\u5408\u308f\u305b\u3067\u3042\u308b\u3002\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u304c\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u4ee5\u6765\u306e\u91d1\u878d\u7de9\u548c\u3092\u632f\u308a\u8fd4\u3063\u3066\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u305f\u3053\u3068\u3092\u601d\u3044\u51fa\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36802\" data-type=\"post\" data-id=\"36802\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u3042\u3068\u534a\u5e74\u3067\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u3001\u7c73\u56fd\u7d4c\u6e08\u306b\u6b7b\u4f53\u304c\u7a4d\u307f\u4e0a\u304c\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>\u8cc7\u91d1\u304c\u3042\u3075\u308c\u304b\u3048\u308b\u3068\u4eba\u3005\u306f\u99ac\u9e7f\u3052\u305f\u3053\u3068\u3092\u3059\u308b\u3002\u8cc7\u91d1\u304c11\u5e74\u3082\u3042\u3075\u308c\u304b\u3048\u308b\u3068\u4eba\u3005\u306f\u672c\u5f53\u306b\u99ac\u9e7f\u3052\u305f\u3053\u3068\u3092\u3059\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3053\u3046\u8aac\u660e\u3059\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u30b3\u30ed\u30ca\u5f8c\u3001\u4eba\u3005\u306f\u300c\u8cc3\u6599\u3092\u6255\u3046\u5fc5\u8981\u306f\u306a\u3044\u300d\u300c\u5968\u5b66\u91d1\u3092\u8fd4\u6e08\u3059\u308b\u5fc5\u8981\u306f\u306a\u3044\u300d\u300c\u653f\u5e9c\u304b\u3089\u304a\u91d1\u304c\u53d7\u3051\u53d6\u308c\u308b\u300d\u3068\u8a00\u308f\u308c\u305f\u3002\u305d\u3057\u3066\u751f\u6d3b\u7fd2\u6163\u3092\u305d\u306e\u72b6\u6cc1\u306b\u9069\u5fdc\u3055\u305b\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u4eca\u3001\u653f\u5e9c\u304b\u3089\u4f9b\u7d66\u3055\u308c\u3066\u3044\u305f\u8cc7\u91d1\u306f\u5e95\u3092\u5c3d\u304d\u305f\u3002\u3060\u304b\u3089\u4eca\u5ea6\u306f\u5f7c\u3089\u306f\u501f\u91d1\u3092\u5897\u3084\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u7d4c\u7531\u306e\u501f\u91d1\u306f\u3053\u3053\u6570\u30f6\u6708\u3067\u304b\u306a\u308a\u5897\u3048\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u4eba\u306f\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u306e\u652f\u6255\u3044\u6b8b\u9ad8\u3092\u305f\u3081\u308b\u306e\u304c\u5927\u597d\u304d\u3067\u3042\u308b\u3002\u7b46\u8005\u306f\u4f55\u306e\u7406\u7531\u3082\u306a\u304f\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u3092\u30ea\u30dc\u6255\u3044\u306b\u3057\u3066\u3044\u305f\u30a2\u30e1\u30ea\u30ab\u4eba\u3092\u77e5\u3063\u3066\u3044\u308b\u3002\u5f7c\u5973\u66f0\u304f\u3001\u300c\u4eca\u6255\u308f\u306a\u304f\u3066\u3082\u826f\u3044\u306a\u3089\u305d\u306e\u65b9\u304c\u826f\u3044\u3058\u3083\u306a\u3044\u300d\u3060\u305d\u3046\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30b3\u30ed\u30ca\u798d\u306b\u304a\u3051\u308b\u653f\u5e9c\u306e\u7de9\u548c\u3084\u652f\u6255\u3044\u7336\u4e88\u304c\u306a\u304f\u306a\u3063\u3066\u3082\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u304c\u99ac\u9e7f\u9a12\u304e\u3092\u5ef6\u9577\u3057\u305f\u3002\u305d\u3057\u3066\u4eca\u3084\u796d\u308a\u304c\u7d42\u308f\u308d\u3046\u3068\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3053\u3046\u7d9a\u3051\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u5bb6\u8cc3\u3092\u652f\u6255\u308f\u306a\u304f\u3066\u826f\u304b\u3063\u305f\u671f\u9593\u3001\u5f7c\u3089\u306f\u6050\u3089\u304f\u6d6e\u3044\u305f\u304a\u91d1\u3092\u751f\u6d3b\u6c34\u6e96\u3092\u30a2\u30c3\u30d7\u30b0\u30ec\u30fc\u30c9\u3059\u308b\u305f\u3081\u306b\u4f7f\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u653f\u5e9c\u304b\u3089\u6765\u305f\u8cc7\u91d1\u304c\u5c3d\u304d\u305f\u6642\u3001\u5f7c\u3089\u306f\u5bb6\u8cc3\u3092\u6255\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308b\u304c\u3001\u81ea\u5206\u304c\u5927\u91cf\u306b\u501f\u91d1\u3057\u3066\u3044\u308b\u3053\u3068\u306b\u3082\u6c17\u4ed8\u304f\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u5bb6\u8cc3\u306e\u652f\u6255\u3044\u3060\u3051\u3067\u306f\u306a\u304f\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u306e\u652f\u6255\u3044\u306b\u91d1\u5229\u3092\u4e57\u305b\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u7a0e\u91d1\u306e\u652f\u6255\u3044\u3082\u518d\u958b\u3055\u308c\u308b\u3002\u308f\u305f\u3057\u306e\u4f4f\u3080\u30ab\u30ea\u30d5\u30a9\u30eb\u30cb\u30a2\u5dde\u3067\u306f2022\u5e74\u306e\u7a0e\u91d1\u3092\u307e\u3060\u6255\u308f\u306a\u304f\u3066\u826f\u3044\u3053\u3068\u306b\u306a\u3063\u3066\u3044\u308b\u304c\u3001\u305d\u306e\u671f\u9650\u304c10\u670815\u65e5\u306b\u6765\u308b\u3002<\/p>\n\n\n\n<p>\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u5dde\u306a\u3069\u306e\u4ed6\u306e\u5dde\u3067\u306f2022\u5e74\u306e\u7a0e\u91d1\u3092\u53ce\u3081\u308b\u671f\u9650\u304c\u6700\u8fd1\u6765\u305f\u3002<\/p>\n\n\n\n<p>\u4eba\u3005\u306f\u7a81\u7136\u304a\u91d1\u304c\u306a\u3044\u3053\u3068\u306b\u6c17\u4ed8\u304f\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u99ac\u9e7f\u9a12\u304e\u3082\u305d\u308d\u305d\u308d\u7d42\u308f\u308a\u3067\u3042\u308b\u3002\u7b46\u8005\u306f\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u306e\u63a8\u79fb\u304b\u3089\u3001\u666f\u6c17\u5f8c\u9000\u306f\u6765\u5e74\u524d\u534a\u306b\u304b\u3051\u3066\u3060\u3068\u4e88\u60f3\u3057\u7d9a\u3051\u3066\u3044\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3082\u540c\u3058\u304f\u3089\u3044\u306e\u30bf\u30a4\u30e0\u30d5\u30ec\u30fc\u30e0\u3092\u8003\u3048\u3066\u3044\u308b\u3089\u3057\u3044\u3002\u5f7c\u306f\u3053\u3046\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>\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u3053\u3053\u304b\u30896\u30f6\u6708\u304b\u30898\u30f6\u6708\u307b\u3069\u3067\u58c1\u306b\u3076\u3064\u304b\u308b\u3060\u308d\u3046\u3002\u305d\u3057\u3066\u5404\u7a2e\u91d1\u5229\u306e\u652f\u6255\u3044\u306e\u305f\u3081\u306b\u6d88\u8cbb\u8005\u306e\u6d3b\u52d5\u304c\u6b62\u307e\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u7c73\u56fd\u682a\u306f\u3069\u3046\u306a\u308b\u304b\uff1f\u3000\u682a\u4fa1\u306e\u63a8\u79fb\u306b\u3064\u3044\u3066\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u65e2\u306b\u89e3\u8aac\u3057\u3066\u3044\u308b\u306e\u3067\u3001\u305d\u3061\u3089\u3092\u53c2\u8003\u306b\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/39630\" data-type=\"post\" data-id=\"39630\">\u30a2\u30e1\u30ea\u30ab\u9280\u884c\u5371\u6a5f\u306e\u6b21\u306e\u5371\u6a5f\u304c\u682a\u4fa1\u3092\u4e0b\u843d\u3055\u305b\u308b<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/39671\" data-type=\"post\" data-id=\"39671\">\u7c73\u56fd\u682a\u304c\u5b8c\u5168\u306b\u5272\u9ad8\u3067\u3042\u308b\u7406\u7531\u3068\u682a\u4fa1\u306e\u63a8\u79fb\u4e88\u60f3<\/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\u304cFOX Business\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u73fe\u72b6\u3068\u4eca\u5f8c\u306e\u898b\u901a\u3057\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":[59,118,108],"tags":[131],"class_list":["post-39733","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-us-bond-market","category-bond-markets","tag-jeffrey-gundlach"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/39733","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=39733"}],"version-history":[{"count":22,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/39733\/revisions"}],"predecessor-version":[{"id":39757,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/39733\/revisions\/39757"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=39733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=39733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=39733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}