{"id":40814,"date":"2023-10-21T20:00:00","date_gmt":"2023-10-21T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=40814"},"modified":"2023-10-21T19:09:41","modified_gmt":"2023-10-21T10:09:41","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%e7%8f%be%e9%87%91%e7%b5%a6%e4%bb%98%e3%81%ae%e6%ac%a1%e3%81%ae%e7%b7%a9%e5%92%8c%e6%94%bf%e7%ad%96%e3%82%92%e8%aa%9e%e3%82%8b","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/40814","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3001\u73fe\u91d1\u7d66\u4ed8\u306e\u6b21\u306e\u7de9\u548c\u653f\u7b56\u3092\u8a9e\u308b"},"content":{"rendered":"\n<p>Double Line Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cGrant\u306e\u4f1a\u8b70\u306b\u304a\u3051\u308b\u8b1b\u6f14\u3067\u3001\u6765\u5e74\u4e88\u60f3\u3055\u308c\u3066\u3044\u308b\u30a2\u30e1\u30ea\u30ab\u306e\u666f\u6c17\u5f8c\u9000\u306b\u304a\u3044\u3066\u653f\u5e9c\u306e\u7de9\u548c\u653f\u7b56\u304c\u3069\u3046\u306a\u308b\u304b\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>2024\u5e74\u30a2\u30e1\u30ea\u30ab\u306e\u666f\u6c17\u5f8c\u9000<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6765\u5e74\u306e\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u666f\u6c17\u5f8c\u9000\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306b\u3088\u308c\u3070\uff08\u7b46\u8005\u3082\u540c\u610f\u3057\u3066\u3044\u308b\u304c\uff09\u3001\u6700\u8fd1\u306e\u5931\u696d\u7387\u4e0a\u6607\u306f\u666f\u6c17\u5f8c\u9000\u306e\u524d\u89e6\u308c\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/39464\" data-type=\"post\" data-id=\"39464\">8\u6708\u96c7\u7528\u7d71\u8a08\u306f\u9042\u306b\u5931\u696d\u7387\u306e\u4e0a\u6607\u958b\u59cb\u3001\u30a4\u30f3\u30d5\u30ec\u5f8c\u306e\u5927\u91cf\u5931\u696d\u306e\u59cb\u307e\u308a<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3082\u3057\u305d\u308c\u304c\u6b63\u3057\u3044\u3068\u3059\u308c\u3070\u3001\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306e\u554f\u984c\u306f\u305d\u306e\u666f\u6c17\u5f8c\u9000\u306b\u30a2\u30e1\u30ea\u30ab\u653f\u5e9c\u3068Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u304c\u3069\u3046\u5bfe\u5fdc\u3059\u308b\u304b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306fFed\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u304c\u30a4\u30f3\u30d5\u30ec\u9000\u6cbb\u3092\u3084\u308a\u5207\u308b\u3068\u3044\u3046\u3053\u3068\u3092\u7591\u3063\u3066\u3044\u308b\u3002\u5f7c\u306e\u4e88\u60f3\u3067\u306f\u3001\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u307e\u305a\u5229\u4e0a\u3052\u3092\u3084\u308a\u904e\u304e\u3066\u666f\u6c17\u5f8c\u9000\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u5f8c\u306b\u3001\u6b21\u306f\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u7de9\u548c\u3092\u3084\u308a\u904e\u304e\u3066\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3092\u5f15\u304d\u8d77\u3053\u3059\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a9e\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>2024\u5e74\u306e\u7b2c1\u56db\u534a\u671f\u306b\u306f\u3001Fed\u306e\u653f\u7b56\u306b\u306f\u554f\u984c\u304c\u751f\u3058\u3001\u8ca1\u653f\u8d64\u5b57\u306f\u7206\u767a\u7684\u306b\u5897\u52a0\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3053\u306e\u898b\u901a\u3057\u81ea\u4f53\u306f\u3001\u4ed6\u306e\u5c02\u9580\u5bb6\u3082\u540c\u3058\u610f\u898b\u3092\u8868\u660e\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\/36547\" data-type=\"post\" data-id=\"36547\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u3001\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u3068\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3092\u4e88\u60f3<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30562\" data-type=\"post\" data-id=\"30562\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306e\u30a4\u30f3\u30d5\u30ec\u9000\u6cbb\u304c\u672c\u6c17\u304b\u3069\u3046\u304b\u7591\u3046\u7406\u7531<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u7de9\u548c\u653f\u7b56\u306e\u5909\u9077<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u554f\u984c\u306f\u7de9\u548c\u306e\u5185\u5bb9\u3060\u308d\u3046\u3002\u591a\u304f\u306e\u5148\u9032\u56fd\u306e\u653f\u6cbb\u5bb6\u306f\u5acc\u3067\u3082\u652f\u51fa\u3092\u6e1b\u3089\u3057\u305f\u304f\u306a\u304b\u3063\u305f\u306e\u3067\u3001\u666f\u6c17\u5f8c\u9000\u304c\u8d77\u304d\u308b\u5ea6\u306b\u7de9\u548c\u653f\u7b56\u3092\u884c\u306a\u3063\u3066\u304d\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30931\" data-type=\"post\" data-id=\"30931\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u7121\u7bc0\u64cd\u306b\u652f\u51fa\u3057\u7d9a\u3051\u308b\u30e1\u30f3\u30bf\u30ea\u30c6\u30a3\u306e\u304a\u9670\u3067\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u307e\u305a\u306f\u5229\u4e0b\u3052\u304b\u3089\u59cb\u307e\u3063\u305f\u3002\u30a2\u30e1\u30ea\u30ab\u3067\u306f1980\u5e74\u304b\u3089\u30b3\u30ed\u30ca\u5f8c\u307e\u3067\u300140\u5e74\u4ee5\u4e0a\u5229\u4e0b\u3052\u304c\u884c\u308f\u308c\u3066\u3044\u305f\u3002\u305d\u308c\u304c\u904e\u53bb40\u5e74\u306e\u7c73\u56fd\u682a\u306e\u4e0a\u6607\u7406\u7531\u3060\u3063\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/39962\" data-type=\"post\" data-id=\"39962\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u682a\u4fa1\u306e\u9577\u671f\u4e0a\u6607\u3092\u652f\u3048\u3066\u304d\u305f\u904e\u53bb40\u5e74\u306e\u4f4e\u91d1\u5229\u306f\u3082\u3046\u306a\u3044<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u5229\u4e0b\u3052\u30822008\u5e74\u306e\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3067\u91d1\u5229\u304c\u30bc\u30ed\u306b\u5230\u9054\u3059\u308b\u3068\u3001\u305d\u308c\u4ee5\u4e0a\u5229\u4e0b\u3052\u3092\u884c\u306a\u3046\u3053\u3068\u304c\u51fa\u6765\u306a\u304f\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u3046\u3057\u3066\u69d8\u3005\u306a\u65b0\u3057\u3044\u7de9\u548c\u65b9\u6cd5\u304c\u8003\u6848\u3055\u308c\u3066\u304d\u305f\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u5229\u4e0b\u3052\u4ee5\u5916\u306b\u884c\u308f\u308c\u3066\u304d\u305f\u7de9\u548c\u653f\u7b56\u306b\u3064\u3044\u3066\u6b21\u306e\u3088\u3046\u306b\u8a9e\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>\u91cf\u7684\u7de9\u548c\u3001\u9280\u884c\u306e\u56fd\u6709\u5316\u3001\u653f\u5e9c\u652f\u51fa\u306e\u5897\u52a0\u3001\u50b5\u52d9\u306e\u5c11\u3057\u306e\u6e1b\u514d\u2026<\/p>\n<\/blockquote>\n\n\n\n<p>\u9280\u884c\u306e\u56fd\u6709\u5316\u306f\u30012008\u5e74\u306b\u30a2\u30e1\u30ea\u30ab\u653f\u5e9c\u304c\u3044\u304f\u3064\u304b\u306e\u9280\u884c\u3092\u6551\u6e08\u3057\u305f\u3053\u3068\u3092\u6307\u3057\u3066\u3044\u308b\u306e\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u91cf\u7684\u7de9\u548c\u306f\u3001\u3053\u308c\u3082\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u306e\u5f8c\u306b\u59cb\u307e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u653f\u5e9c\u652f\u51fa\u306f\u6c38\u9060\u306b\u5897\u3048\u7d9a\u3051\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u308c\u3067\u7d4c\u6e08\u306f\u826f\u304f\u306a\u3063\u305f\u3060\u308d\u3046\u304b\u3002\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u3084\u5186\u5b89\u653f\u7b56\u3067\u7d04\u675f\u901a\u308a\u30a4\u30f3\u30d5\u30ec\u3068\u5186\u5b89\u3092\u624b\u306b\u5165\u308c\u305f\u65e5\u672c\u4eba\u306f\u3055\u305e\u304b\u3057\u5e78\u305b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3089\u306f\u7de9\u548c\u653f\u7b56\u306b\u305a\u3063\u3068\u53cd\u5bfe\u3057\u3066\u304d\u305f\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30b3\u30ed\u30ca\u5f8c\u306e\u3070\u3089\u6492\u304d\u306b\u6700\u521d\u304b\u3089\u53cd\u5bfe\u3057\u3066\u3044\u305f\u3002\u3060\u304c\u8ab0\u3082\u805e\u304b\u306a\u304b\u3063\u305f\u3067\u306f\u306a\u3044\u304b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9681\" data-type=\"post\" data-id=\"9681\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3001\u65b0\u578b\u30b3\u30ed\u30ca\u3067\u306e\u4f01\u696d\u6551\u6e08\u3068\u30d8\u30ea\u30b3\u30d7\u30bf\u30fc\u30de\u30cd\u30fc\u3092\u75db\u70c8\u6279\u5224 (2020\/3\/29)<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u5f8c\u306e\u7d4c\u6e08\u653f\u7b56<\/strong><\/p>\n\n\n\n<p>\u305d\u306e\u5f8c\u653f\u5e9c\u3068\u4e2d\u592e\u9280\u884c\u306f\u4f55\u3092\u3057\u305f\u3060\u308d\u3046\u304b\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>\u30c8\u30e9\u30f3\u30d7\u306e\u5927\u7d71\u9818\u9078\u51fa\u3001\u91d1\u5229\u306e\u6b63\u5e38\u5316\u3001\u3053\u308c\u3082\u3084\u3063\u305f\u3002\u7406\u7531\u306e\u306a\u3044\u5229\u4e0a\u3052\u3001\u3053\u308c\u30822018\u5e74\u306b\u3084\u3063\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>1\u756a\u76ee\u306f\u30b8\u30e7\u30fc\u30af\u3067\u3042\u308b\u3002\u3060\u304c\u5b9f\u969b\u306b\u8d77\u3053\u308a\u3001\u7d4c\u6e08\u306f\u826f\u304f\u306a\u3089\u306a\u304b\u3063\u305f\u3002\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u3082\u3046\u4e00\u5ea6\u5927\u7d71\u9818\u306b\u306a\u3063\u305f\u5834\u5408\u306e\u7d4c\u6e08\u653f\u7b56\u306b\u3064\u3044\u3066\u306f\u3001\u30dd\u30fc\u30eb\u30fb\u30c1\u30e5\u30fc\u30c0\u30fc\u30fb\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f\u304c\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/40639\" data-type=\"post\" data-id=\"40639\">\u30c1\u30e5\u30fc\u30c0\u30fc\u30fb\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f: \u5927\u7d71\u9818\u9078\u6319\u306e\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u3078\u306e\u5f71\u97ff<\/a><\/li>\n<\/ul>\n\n\n\n<p>2018\u5e74\u306b\u306f\u3001\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u304c\u9023\u7d9a\u5229\u4e0a\u3052\u3092\u884c\u306a\u3063\u305f\u3002\u305d\u3057\u3066\u4e16\u754c\u540c\u6642\u682a\u5b89\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\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\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u660e\u3089\u304b\u306b\u3001\u5f53\u6642\u3068\u4eca\u3092\u30d1\u30e9\u30ec\u30eb\u306b\u898b\u3066\u3044\u308b\u3002\u5f53\u6642\u3001\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u304c\u5229\u4e0a\u3052\u3092\u3084\u308a\u904e\u304e\u305f\u3088\u3046\u306b\u3001\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u4eca\u3082\u3046\u4e00\u5ea6\u3084\u308a\u904e\u304e\u3088\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\/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>\u307e\u305f\u3001\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u5f8c\u306b\u8d77\u3053\u3063\u305f\u4ed6\u306e\u653f\u7b56\u306b\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u3092\u6319\u3052\u3066\u3044\u308b\u3002\u5f7c\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>\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u3001\u3053\u308c\u306f\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u884c\u308f\u308c\u3066\u3044\u306a\u3044\u304c\u3001\u5b9f\u8cea\u91d1\u5229\u306f\u9593\u9055\u3044\u306a\u304f\u30de\u30a4\u30ca\u30b9\u306b\u306a\u308a\u30012016\u5e74\u306b\u306f\u4e16\u754c\u7684\u306b\u306f18\u5146\u30c9\u30eb\u306e\u50b5\u5238\u304c\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u306b\u306a\u3063\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306f\u4eca\u306f\u306a\u304f\u306a\u3063\u3066\u3044\u308b\u3002\u65e5\u672c\u306e\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u3060\u3051\u304c\u6b8b\u3063\u3066\u3044\u308b\u304c\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u3067\u591a\u304f\u306e\u4e2d\u592e\u9280\u884c\u304c\u5229\u4e0a\u3052\u3057\u305f\u305f\u3081\u306b\u3001\u3044\u307e\u3060\u306b\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u3092\u884c\u306a\u3063\u3066\u3044\u308b\u306e\u306f\u65e5\u672c\u3060\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\/29198\" data-type=\"post\" data-id=\"29198\">\u5229\u4e0a\u3052\u3067\u9810\u91d1\u8005\u306f\u30a4\u30f3\u30d5\u30ec\u304b\u3089\u8cc7\u7523\u9632\u885b\u3067\u304d\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u65e5\u9280\u304c\u5229\u4e0a\u3052\u3092\u884c\u308f\u306a\u3044\u7406\u7531<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u3057\u3066\u30b3\u30ed\u30ca\u5f8c\u307e\u3067\u8a71\u304c\u9032\u3080\u3002\u73fe\u91d1\u7d66\u4ed8\u3067\u3042\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\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>\u30d8\u30ea\u30b3\u30d7\u30bf\u30fc\u30de\u30cd\u30fc\u3001\u30b3\u30ed\u30ca\u5bfe\u7b56\u3067\u3053\u308c\u3082\u3084\u3063\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u7d19\u5e63\u306f\u76f4\u63a5\u4eba\u3005\u306b\u3070\u3089\u6492\u304b\u308c\u305f\u3002\u305d\u3057\u3066\u305d\u308c\u306f\u7269\u4fa1\u9ad8\u9a30\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u4e16\u754c\u7684\u306a\u7269\u4fa1\u9ad8\u9a30\u306e\u539f\u56e0\u306f\u73fe\u91d1\u7d66\u4ed8\u3067\u3042\u308a\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3068\u306f\u307b\u3068\u3093\u3069\u7121\u95a2\u4fc2\u3067\u3042\u308b\u3053\u3068\u306f\u3001\u3082\u3046\u4f55\u5ea6\u3082\u8aac\u660e\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><strong>\u3053\u308c\u304b\u3089\u306e\u7de9\u548c\u653f\u7b56<\/strong><\/p>\n\n\n\n<p>\u7de9\u548c\u653f\u7b56\u306f\u3053\u306e\u3088\u3046\u306b\u9032\u5316\u3057\u3066\u304d\u305f\u3002\u305d\u3057\u3066\u7de9\u548c\u653f\u7b56\u304c\u9032\u5316\u3059\u308b\u5ea6\u306b\u72b6\u6cc1\u306f\u60aa\u304f\u306a\u3063\u3066\u304d\u305f\u3002\u4eca\u3084\u65e5\u672c\u306f\u30a4\u30f3\u30d5\u30ec\u3068\u901a\u8ca8\u5b89\u306b\u8972\u308f\u308c\u3066\u3044\u308b\u3002\u57fa\u8ef8\u901a\u8ca8\u3067\u3042\u308b\u30c9\u30eb\u3092\u4fdd\u6709\u3059\u308b\u7c73\u56fd\u3060\u3051\u304c\u3001\u901a\u8ca8\u5b89\u306e\u554f\u984c\u3092\u5ef6\u671f\u3067\u304d\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/40751\" data-type=\"post\" data-id=\"40751\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306e\u666f\u6c17\u5f8c\u9000\u3067\u30c9\u30eb\u306f\u66b4\u843d\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u7de9\u548c\u653f\u7b56\u306f\u3053\u308c\u304b\u3089\u3082\u9032\u5316\u3057\u3001\u305d\u3057\u3066\u7d4c\u6e08\u3092\u3069\u3093\u3069\u3093\u60aa\u304f\u3057\u3066\u3086\u304f\u3060\u308d\u3046\u3002\u3060\u304c\u5177\u4f53\u7684\u306b\u3069\u3046\u306a\u308b\u306e\u304b\u3002\u4eba\u3005\u306b\u76f4\u63a5\u304a\u91d1\u3092\u3070\u3089\u6492\u304f\u73fe\u91d1\u7d66\u4ed8\u4ee5\u4e0a\u306b\u51fa\u6765\u308b\u3053\u3068\u304c\u307e\u3060\u3042\u308b\u306e\u304b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306b\u3088\u308c\u3070\u3001\u305d\u308c\u306f\u307e\u3060\u3042\u308b\u3089\u3057\u3044\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>\u7d19\u5e63\u5370\u5237\u306b\u3088\u308b\u50b5\u52d9\u652f\u6255\u3044\u3001\u3053\u308c\u306f\u30d8\u30ea\u30b3\u30d7\u30bf\u30fc\u30de\u30cd\u30fc\u3068\u306f\u5225\u3060\u3002\u7d19\u5e63\u5370\u5237\u306b\u3088\u308b\u50b5\u52d9\u652f\u6255\u3044\u3068\u306f\u3001\u307b\u3068\u3093\u3069200\u5146\u30c9\u30eb\u5b58\u5728\u3059\u308b\u50b5\u52d9\u3092\u7d19\u5e63\u5370\u5237\u3067\u652f\u6255\u3046\u3053\u3068\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4e2d\u592e\u9280\u884c\u306f\u91cf\u7684\u7de9\u548c\u3067\u56fd\u50b5\u3092\u8cfc\u5165\u3057\u3066\u306f\u3044\u308b\u304c\u3001\u305d\u308c\u3067\u653f\u5e9c\u50b5\u52d9\u3092\u76f4\u63a5\u53d6\u308a\u6d88\u3057\u306b\u306f\u3057\u3066\u3044\u306a\u3044\u3002\u3053\u308c\u3092\u76f4\u63a5\u53d6\u308a\u6d88\u3057\u306b\u3059\u308b\u7de9\u548c\u653f\u7b56\u306f\u3001\u307e\u3060\u3084\u3063\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p>GDP\u306e100%\u3092\u8d85\u3048\u308b\u5de8\u5927\u306a\u653f\u5e9c\u50b5\u52d9\u3082\u3001\u7d19\u5e63\u5370\u5237\u3067\u3059\u3079\u3066\u652f\u6255\u3063\u3066\u3057\u307e\u3048\u3070\u5e33\u6d88\u3057\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u53ef\u80fd\u6027\u3067\u3042\u308b\u3002\u653f\u5e9c\u306f\u305d\u308c\u3092\u3084\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u3060\u304c\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u3067\u5b9f\u969b\u306b\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u3063\u305f\u4eca\u3001\u305d\u308c\u3067\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u304d\u306a\u3044\u3068\u4e3b\u5f35\u3059\u308b\u4eba\u304c\u307e\u3060\u5c45\u308b\u3060\u308d\u3046\u304b\uff1f<\/p>\n\n\n\n<p>\u307e\u3060\u8a66\u3055\u308c\u3066\u3044\u306a\u3044\u653f\u7b56\u306f\u4ed6\u306b\u3082\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>\u8cc7\u7523\u7a0e\u3002\u30ab\u30ea\u30d5\u30a9\u30eb\u30cb\u30a2\u3067\u306f\u305d\u308c\u304c\u691c\u8a0e\u3055\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u308f\u305f\u3057\u306f\u30ab\u30ea\u30d5\u30a9\u30eb\u30cb\u30a2\u5dde\u653f\u5e9c\u3092\u9df9\u306e\u3088\u3046\u306b\u89b3\u5bdf\u3057\u3066\u3044\u308b\u30021972\u5e74\u7269\u306eGM\u30b7\u30dc\u30ec\u30fc454V8\u30d4\u30c3\u30af\u30a2\u30c3\u30d7\u30c8\u30e9\u30c3\u30af\u306b\u4e57\u3063\u3066\u30a2\u30e9\u30d0\u30de\u307e\u3067\u6771\u306b\u30c9\u30e9\u30a4\u30d6\u3059\u308b\u307e\u3067\u3042\u3068\u4e00\u6b69\u306e\u3068\u3053\u308d\u306b\u6765\u3066\u3044\u308b\u304b\u3089\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u653f\u5e9c\u306f\u81ea\u5206\u3067\u5897\u3084\u3057\u305f\u501f\u91d1\u3092\u4eba\u306e\u91d1\u3067\u652f\u6255\u304a\u3046\u3068\u3057\u3066\u3044\u308b\u3002\u305d\u308c\u304c\u5897\u7a0e\u3067\u3042\u308b\u3002\u56fd\u306b\u3088\u3063\u3066\u305d\u306e\u6a19\u7684\u304c\u5bcc\u88d5\u5c64\u3067\u3042\u3063\u305f\u308a\u3001\u4e2d\u9593\u5c64\u3067\u3042\u3063\u305f\u308a\u3059\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u540c\u3058\u3053\u3068\u3060\u308d\u3046\u3002\u653f\u6cbb\u5bb6\u3068\u65e2\u5f97\u6a29\u76ca\u5c64\u304c\u4e00\u90e8\u306e\u4e00\u822c\u306e\u7968\u7530\u3068\u7d50\u8a17\u3057\u3001\u88ab\u5bb3\u8005\u304b\u3089\u5fb4\u7a0e\u3068\u3044\u3046\u540d\u306e\u643e\u53d6\u3092\u884c\u306a\u3063\u305f\u308a\u6226\u4e89\u3092\u884c\u306a\u3063\u305f\u308a\u3059\u308b\u56f3\u5f0f\u306f\u5909\u308f\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/40696\" data-type=\"post\" data-id=\"40696\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a6\u30af\u30e9\u30a4\u30ca\u6226\u4e89\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u6700\u9ad8\u306e\u30d3\u30b8\u30cd\u30b9<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35564\" data-type=\"post\" data-id=\"35564\">\u30cf\u30a4\u30a8\u30af\u6c0f: \u73fe\u91d1\u7d66\u4ed8\u3084\u88dc\u52a9\u91d1\u306f\u305d\u308c\u3092\u53d7\u3051\u306a\u3044\u4eba\u306b\u5bfe\u3059\u308b\u7a83\u76d7\u3067\u3042\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u3057\u3066\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6700\u5f8c\u306b\u7a76\u6975\u306e\u7de9\u548c\u624b\u6bb5\u3092\u5448\u793a\u3059\u308b\u3002\u5f7c\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>\u305d\u3057\u3066\u30c7\u30d5\u30a9\u30eb\u30c8\u3060\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u304c\u6700\u5f8c\u306e\u624b\u6bb5\u3060\u3002\u7d19\u5e63\u5370\u5237\u306b\u3088\u308b\u50b5\u52d9\u306e\u652f\u6255\u3044\u3001\u8cc7\u7523\u7a0e\u3001\u305d\u308c\u3067\u4e00\u90e8\u306e\u4eba\u3005\u306f\u826f\u3044\u6c17\u6301\u3061\u306b\u306a\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001\u305d\u308c\u3067\u554f\u984c\u304c\u89e3\u6c7a\u3059\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u6700\u5f8c\u306b\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u304c\u6b8b\u3055\u308c\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30c7\u30d5\u30a9\u30eb\u30c8\u306f\u7de9\u548c\u653f\u7b56\u306e\u6700\u7d42\u5f62\u614b\u3067\u3042\u308b\u3002\u4ed6\u306e\u7de9\u548c\u653f\u7b56\u3067\u306f\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u3063\u305f\u308a\u3001\u3042\u308b\u3044\u306f\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306b\u3088\u3063\u3066\u30a4\u30f3\u30d5\u30ec\u304c\u666f\u6c17\u5f8c\u9000\u306b\u8ee2\u63db\u3055\u308c\u305f\u308a\u3059\u308b\u304c\u3001\u554f\u984c\u306f\u6c38\u9060\u306b\u7d42\u308f\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u30c7\u30d5\u30a9\u30eb\u30c8\u3060\u3051\u304c\u554f\u984c\u3092\u6839\u672c\u304b\u3089\u5439\u304d\u98db\u3070\u3059\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u3092\u672a\u6765\u306e\u53ef\u80fd\u6027\u306e1\u3064\u3068\u3057\u3066\u6319\u3052\u3066\u3044\u308b\u3002\u5b9f\u969b\u306b\u306f\u3069\u3046\u306a\u308b\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<p>\u5b9f\u969b\u306b\u306f\u3001\u3053\u306e\u307e\u307e\u30a4\u30f3\u30d5\u30ec&amp;\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3068\u666f\u6c17\u5f8c\u9000&amp;\u7de9\u548c\u518d\u958b\u306e\u3044\u305f\u3061\u3054\u3063\u3053\u304c\u7d9a\u3044\u305f\u3042\u3068\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u901a\u8ca8\u5b89\u304c\u8a31\u5bb9\u4e0d\u53ef\u80fd\u306a\u30ec\u30d9\u30eb\u306b\u307e\u3067\u60aa\u5316\u3057\u3001\u305d\u3057\u3066\u6700\u7d42\u7684\u306b\u306f\u653f\u5e9c\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u3092\u9078\u629e\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u304c\u5b9f\u306f\u7269\u4fa1\u4e0a\u6607\u3068\u3044\u3046\u610f\u5473\u3060\u3063\u305f\u3053\u3068\u306b\u6700\u8fd1\u6c17\u3065\u3044\u305f\u65e5\u672c\u4eba\u3060\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u304c\u5b8c\u5168\u306a\u30da\u30c6\u30f3\u3060\u3063\u305f\u3053\u3068\u306b\u6c17\u3065\u3044\u305f\u4eba\u3005\u3082\u3001\u5148\u9032\u56fd\u304c\u7834\u7dbb\u3059\u308b\u3053\u3068\u306f\u306a\u3044\u3068\u3044\u3046\u5e7b\u60f3\u306f\u307e\u3060\u4fe1\u3058\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304cBridgewater\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306f\u3001\u5148\u9032\u56fd\u306e\u4e2d\u592e\u9280\u884c\u3082\u7834\u7dbb\u3059\u308b\u3068\u8a00\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/40262\" data-type=\"post\" data-id=\"40262\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: 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class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11992\" data-type=\"post\" data-id=\"11992\">\u30cf\u30a4\u30a8\u30af: \u30a4\u30f3\u30d5\u30ec\u4e3b\u7fa9\u306f\u975e\u79d1\u5b66\u7684\u8ff7\u4fe1<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Double Line Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cGrant\u306e\u4f1a\u8b70\u306b\u304a\u3051\u308b\u8b1b\u6f14\u3067\u3001\u6765\u5e74\u4e88\u60f3\u3055\u308c\u3066\u3044\u308b\u30a2\u30e1\u30ea\u30ab\u306e\u666f\u6c17\u5f8c\u9000\u306b\u304a\u3044\u3066\u653f\u5e9c\u306e\u7de9\u548c\u653f\u7b56\u304c\u3069\u3046\u306a\u308b\u304b\u3092\u4e88\u60f3\u3057\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":[118,108],"tags":[131],"class_list":["post-40814","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets","tag-jeffrey-gundlach"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/40814","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=40814"}],"version-history":[{"count":67,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/40814\/revisions"}],"predecessor-version":[{"id":40881,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/40814\/revisions\/40881"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=40814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=40814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=40814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}