{"id":40195,"date":"2023-09-26T20:00:00","date_gmt":"2023-09-26T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=40195"},"modified":"2023-09-26T14:22:16","modified_gmt":"2023-09-26T05:22:16","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f%e3%80%81%e9%95%b7%e7%9f%ad%e9%87%91%e5%88%a9%e5%b7%ae%e3%81%8b%e3%82%89%e7%b1%b3%e5%9b%bd%e3%81%ae%e6%99%af%e6%b0%97%e5%be%8c%e9%80%80","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/40195","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3001\u9577\u77ed\u91d1\u5229\u5dee\u304b\u3089\u7c73\u56fd\u306e\u666f\u6c17\u5f8c\u9000\u5165\u308a\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u3092\u4e88\u60f3"},"content":{"rendered":"\n<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u81ea\u793e\u306e\u30a6\u30a7\u30d6\u30ad\u30e3\u30b9\u30c8\u3067\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u666f\u6c17\u5f8c\u9000\u3068\u30a4\u30f3\u30d5\u30ec\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u306e\u3067\u7d39\u4ecb\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u9577\u77ed\u91d1\u5229\u306e\u9006\u8ee2<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u6ce8\u76ee\u3057\u3066\u3044\u308b\u306e\u306f\u300110\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\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u9577\u77ed\u91d1\u5229\u5dee\u306f\u3053\u3053\u306e\u8aad\u8005\u306b\u306f\u304a\u99b4\u67d3\u307f\u3060\u308d\u3046\u304c\u3001\u666f\u6c17\u5f8c\u9000\u3092\u4e88\u60f3\u3059\u308b\u305f\u3081\u306e\u78ba\u5ea6\u306e\u9ad8\u3044\u6307\u6a19\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u91d1\u5229\u306f\u901a\u5e38\u671f\u9593\u304c\u9577\u3044\u307b\u3069\u9ad8\u304f\u306a\u308b\u304c\u3001\u50b5\u5238\u5e02\u5834\u304c\u5229\u4e0a\u3052\u306e\u884c\u304d\u904e\u304e\u306b\u3088\u308b\u666f\u6c17\u5f8c\u9000\u3092\u4e88\u60f3\u3059\u308b\u3068\u3001\u653f\u7b56\u91d1\u5229\u306b\u5f71\u97ff\u3055\u308c\u3084\u3059\u3044\u77ed\u671f\u91d1\u5229\u304c\u4e0a\u304c\u308a\u3001\u666f\u6c17\u898b\u901a\u3057\u306b\u5f71\u97ff\u3055\u308c\u3084\u3059\u3044\u9577\u671f\u91d1\u5229\u304c\u4e0b\u304c\u308b\u3053\u3068\u3067\u3001\u9577\u77ed\u91d1\u5229\u5dee\u304c\u9006\u8ee2\u3059\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u305d\u306e\u9577\u77ed\u91d1\u5229\u5dee\u304c\u4eca\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u304b\u3068\u8a00\u3048\u3070\u3001\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>\u9577\u77ed\u91d1\u5229\u306f\u3057\u3070\u3089\u304f\u306e\u9593\u9006\u8ee2\u3057\u7d9a\u3051\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u6b74\u53f2\u7684\u306b\u306f\u3001\u9577\u77ed\u91d1\u5229\u304c\u9006\u8ee2\u3057\u305f\u5f8c\u3001\u307b\u3068\u3093\u3069\u4f8b\u5916\u306a\u304f\u666f\u6c17\u5f8c\u9000\u304c\u8d77\u304d\u3066\u3044\u308b\u3002\u305d\u308c\u306f\u91d1\u878d\u95a2\u4fc2\u8005\u306b\u306f\u826f\u304f\u77e5\u3089\u308c\u305f\u4e8b\u5b9f\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u554f\u984c\u306f\u666f\u6c17\u5f8c\u9000\u5165\u308a\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u3042\u308b\u3002\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>\u9577\u77ed\u91d1\u5229\u304c\u9006\u8ee2\u3057\u3001\u91d1\u5229\u5dee\u304c\u30bc\u30ed\u3092\u4e0b\u56de\u3063\u305f\u6642\u306b\u306f\u3001\u8b66\u544a\u3068\u3057\u3066\u306f\u53d7\u3051\u53d6\u308b\u3079\u304d\u3060\u304c\u6570\u9031\u9593\u3084\u6570\u30f6\u6708\u3067\u666f\u6c17\u5f8c\u9000\u306b\u306a\u308b\u3068\u3044\u3046\u77ed\u671f\u7684\u306a\u8b66\u544a\u3067\u306f\u306a\u3044\u3002\u9577\u77ed\u91d1\u5229\u306f\u305d\u306e\u307e\u307e\u3057\u3070\u3089\u304f\u306e\u9593\u9006\u8ee2\u3057\u7d9a\u3051\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u305d\u3057\u3066\u666f\u6c17\u5f8c\u9000\u306f\u307e\u3060\u8d77\u3053\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u306e\u77ac\u9593\u306f\u3044\u305a\u308c\u8a2a\u308c\u308b\u3002\u6b74\u53f2\u7684\u306b\u306f\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u306e\u304b\u3002\u9577\u77ed\u91d1\u5229\u5dee\u306e\u9577\u671f\u30c1\u30e3\u30fc\u30c8\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u308b\u3002\u7070\u8272\u306e\u671f\u9593\u304c\u666f\u6c17\u5f8c\u9000\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\/2023-9-26-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\/09\/2023-9-26-us-10-year-treasury-yield-minus-2-year-treasury-yield-chart.png\" alt=\"\" class=\"wp-image-40198\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/09\/2023-9-26-us-10-year-treasury-yield-minus-2-year-treasury-yield-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/09\/2023-9-26-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>\u3053\u308c\u3092\u8e0f\u307e\u3048\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>\u3060\u304c\u672c\u5f53\u306b\u30b7\u30b0\u30ca\u30eb\u3092\u767a\u3059\u308b\u306e\u306f\u3001\u9577\u77ed\u91d1\u5229\u5dee\u304c\u6570\u30f6\u6708\u304b\u6570\u56db\u534a\u671f\u9006\u8ee2\u3057\u7d9a\u3051\u305f\u3042\u3068\u6025\u901f\u306b\u9006\u8ee2\u304c\u89e3\u6d88\u3055\u308c\u3001\u91d1\u5229\u5dee\u304c\u30bc\u30ed\u4ee5\u4e0a\u306b\u623b\u308b\u6642\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4e0a\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u308b\u3068\u3001\u5927\u62b5\u306e\u5834\u5408\u9577\u77ed\u91d1\u5229\u5dee\u304c\u30de\u30a4\u30ca\u30b9\u306b\u306a\u308a\u3001\u305d\u306e\u5f8c\u30d7\u30e9\u30b9\u306b\u623b\u3063\u3066\u304b\u3089\u666f\u6c17\u5f8c\u9000\u5165\u308a\u3057\u3066\u3044\u308b\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u4e2d\u592e\u9280\u884c\u304c\u5229\u4e0b\u3052\u3092\u8003\u3048\u59cb\u3081\u3001\u77ed\u671f\u91d1\u5229\u304c\u4e0b\u304c\u308a\u59cb\u3081\u308b\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u3042\u308b\u3002\u666f\u6c17\u5f8c\u9000\u5165\u308a\u304c\u307b\u3068\u3093\u3069\u660e\u3089\u304b\u306b\u306a\u308a\u3001\u4e2d\u592e\u9280\u884c\u306f\u614c\u3066\u3066\u5229\u4e0b\u3052\u3092\u691c\u8a0e\u3059\u308b\u304c\u3082\u3046\u624b\u9045\u308c\u3060\u3068\u3044\u3046\u72b6\u614b\u306b\u6bce\u56de\u306a\u308b\u308f\u3051\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/40115\" data-type=\"post\" data-id=\"40115\">9\u6708FOMC\u4f1a\u5408\u7d50\u679c\u306f\u30bf\u30ab\u6d3e\u3001\u5f15\u304d\u7de0\u3081\u3092\u6b62\u3081\u308b\u3079\u304d\u30bf\u30a4\u30df\u30f3\u30b0\u3092\u7406\u89e3\u3057\u3066\u3044\u306a\u3044\u30d1\u30a6\u30a8\u30eb\u8b70\u9577<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\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>\u9577\u77ed\u91d1\u5229\u5dee\u304c\u30bc\u30ed\u4ee5\u4e0a\u306b\u623b\u308b\u6642\u3001\u7d4c\u6e08\u306f\u672c\u5f53\u306b\u666f\u6c17\u5f8c\u9000\u5bf8\u524d\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u666f\u6c17\u5f8c\u9000\u5165\u308a<\/strong><\/p>\n\n\n\n<p>\u554f\u984c\u306f\u3053\u308c\u304b\u3089\u3069\u3046\u306a\u308b\u304b\u3067\u3042\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u9577\u77ed\u91d1\u5229\u5dee\u304c\u9577\u3089\u304f\u9006\u8ee2\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u8003\u3048\u3001\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>\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f2024\u5e74\u524d\u534a\u306b\u666f\u6c17\u5f8c\u9000\u306b\u9665\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u4eca\u306f2023\u5e74\u306e\u7b2c4\u56db\u534a\u671f\u306b\u5165\u308a\u3064\u3064\u3042\u308a\u3001\u4eca\u306e\u7d4c\u6e08\u306e\u5f37\u3055\u3092\u8003\u3048\u308c\u3070\u4eca\u5e74\u4e2d\u306b\u666f\u6c17\u5f8c\u9000\u306b\u306a\u308b\u3053\u3068\u306f\u8003\u3048\u3065\u3089\u3044\u304c\u3001\u6765\u5e74\u306e\u7b2c2\u56db\u534a\u671f\u307e\u3067\u306b\u306f\u666f\u6c17\u5f8c\u9000\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u7b46\u8005\u3082\u9006\u8ee2\u89e3\u6d88\u304c\u305d\u308d\u305d\u308d\u3060\u308d\u3046\u3068\u601d\u3046\u3002\u6700\u8fd1\u3001\u5e02\u5834\u3067\u306f\u9577\u671f\u91d1\u5229\u306e\u4e0a\u6607\u304c\u8a71\u984c\u306b\u306a\u3063\u3066\u3044\u308b\u3002\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u8aac\u660e\u3057\u305f\u901a\u308a\u3001\u7b46\u8005\u306f\u3053\u308c\u3092\u7c73\u56fd\u50b5\u304b\u3089\u306e\u8cc7\u91d1\u6d41\u51fa\u306e\u5146\u5019\u3067\u3042\u308b\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/39098\" data-type=\"post\" data-id=\"39098\">\u7c73\u56fd\u682a\u4e0b\u843d\u306e\u539f\u56e0: 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class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/40138\" data-type=\"post\" data-id=\"40138\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u539f\u6cb9\u4fa1\u683c\u4e0a\u6607\u306f\u30a4\u30f3\u30d5\u30ec\u3092\u62bc\u3057\u4e0a\u3052\u308b<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>DoubleLine 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