{"id":42427,"date":"2023-12-13T20:00:00","date_gmt":"2023-12-13T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=42427"},"modified":"2023-12-13T16:08:21","modified_gmt":"2023-12-13T07:08:21","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e9%95%b7%e6%9c%9f%e7%9a%84%e3%81%aa%e9%87%91%e5%88%a9%e4%b8%8a%e6%98%87%e3%81%af%e7%b6%9a%e3%81%8f","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/42427","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u9577\u671f\u7684\u306a\u91d1\u5229\u4e0a\u6607\u306f\u7d9a\u304f"},"content":{"rendered":"\n<p>\u5f15\u304d\u7d9a\u304d\u3001DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u81ea\u793e\u914d\u4fe1\u3067\u3042\u308b\u3002\u4eca\u56de\u306f\u540d\u76eeGDP\u6210\u9577\u7387\u3068\u306e\u95a2\u9023\u3067\u9577\u671f\u7684\u306a\u91d1\u5229\u52d5\u5411\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u90e8\u5206\u3092\u7d39\u4ecb\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u9577\u671f\u91d1\u5229\u3068\u540d\u76eeGDP\u6210\u9577\u7387<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u77ed\u671f\u7684\u306b\u306f\u91d1\u5229\u4f4e\u4e0b\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u306f2024\u5e74\u7b2c2\u56db\u534a\u671f\u306b\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u304c\u666f\u6c17\u5f8c\u9000\u5165\u308a\u3059\u308b\u3053\u3068\u3067\u3042\u308a\u3001\u7d4c\u6e08\u306e\u6e1b\u901f\u306b\u3057\u305f\u304c\u3063\u3066\u91d1\u5229\u3082\u4f4e\u4e0b\u3059\u308b\u3068\u4e3b\u5f35\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\/41489\" data-type=\"post\" data-id=\"41489\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u6765\u5e74\u306e\u666f\u6c17\u5f8c\u9000\u306b\u5411\u3051\u3066\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u5229\u306f\u4f4e\u4e0b\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u9577\u671f\u7684\u306a\u898b\u901a\u3057\u306f\u5225\u3067\u3042\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30a4\u30f3\u30d5\u30ec\u8fbc\u307f\u306e\u7d4c\u6e08\u6210\u9577\u7387\u3067\u3042\u308b\u540d\u76eeGDP\u6210\u9577\u7387\u3068\u9577\u671f\u91d1\u5229\uff0810\u5e74\u7269\u56fd\u50b5\u91d1\u5229\uff09\u306e\u6bd4\u8f03\u3092\u6301\u3061\u51fa\u3057\u3066\u305d\u308c\u3092\u8a9e\u3063\u3066\u3044\u308b\u3002\u305d\u306e2\u3064\u306e\u6570\u5b57\u3092\u4e26\u3079\u305f\u30b0\u30e9\u30d5\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u3063\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\/12\/2023-3q-us-10-year-treasury-bond-yield-and-nominal-gdp-growth-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"496\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/12\/2023-3q-us-10-year-treasury-bond-yield-and-nominal-gdp-growth-chart.png\" alt=\"\" class=\"wp-image-42432\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/12\/2023-3q-us-10-year-treasury-bond-yield-and-nominal-gdp-growth-chart.png 496w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/12\/2023-3q-us-10-year-treasury-bond-yield-and-nominal-gdp-growth-chart-300x282.png 300w\" sizes=\"auto, (max-width: 496px) 100vw, 496px\" \/><\/a><\/figure>\n\n\n\n<p>\u30de\u30af\u30ed\u7d4c\u6e08\u5b66\u306b\u304a\u3044\u3066\u9577\u671f\u7684\u306b\u91d1\u5229\u3092\u6c7a\u3081\u308b\u4e00\u756a\u5358\u7d14\u306a\u5f0f\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u540d\u76ee\u91d1\u5229 = \u540d\u76ee\u7d4c\u6e08\u6210\u9577\u7387<\/li>\n<\/ul>\n\n\n\n<p>\u3053\u306e\u5f0f\u306f\u5927\u307e\u304b\u306b\u306f\u6b63\u3057\u304f\u3001\u30b0\u30e9\u30d5\u306e\u3088\u3046\u306b\u540d\u76eeGDP\u6210\u9577\u7387\u3068\u9577\u671f\u91d1\u5229\u306f\u304a\u3088\u305d\u4f3c\u305f\u6c34\u6e96\u3067\u63a8\u79fb\u3057\u3066\u3044\u308b\u304c\u3001\u91d1\u5229\u306e\u65b9\u304c\u9ad8\u3044\u6642\u671f\u3082\u3042\u308c\u3070GDP\u6210\u9577\u7387\u306e\u65b9\u304c\u9ad8\u3044\u6642\u671f\u3082\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u4e2d\u592e\u9280\u884c\u304c\u5b58\u5728\u3057\u3066\u3044\u308b\u7d4c\u6e08\u306b\u304a\u3044\u3066\u306f\u3001\u305d\u306e\u4e0a\u4e0b\u95a2\u4fc2\u306f\u4e2d\u592e\u9280\u884c\u306e\u30b9\u30bf\u30f3\u30b9\u3067\u6c7a\u307e\u308b\u3002\u4e2d\u592e\u9280\u884c\u304c\u672c\u6c17\u3067\u30a4\u30f3\u30d5\u30ec\u9000\u6cbb\u3092\u884c\u3048\u3070\u3001\u91d1\u5229\u306e\u65b9\u304c\u9ad8\u304f\u306a\u308b\u3002<\/p>\n\n\n\n<p><strong>\u540d\u76eeGDP\u6210\u9577\u7387\u304b\u3089\u898b\u308b\u5c06\u6765\u306e\u91d1\u5229\u52d5\u5411<\/strong><\/p>\n\n\n\n<p>\u3053\u306e\u95a2\u4fc2\u3092\u5229\u7528\u3057\u3066\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u91d1\u5229\u304c\u4eca\u5f8c\u3069\u3046\u306a\u308b\u304b\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002\u5f7c\u306f\u4e0a\u306e\u30b0\u30e9\u30d5\u3092\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>1970\u5e74\u4ee3\u304b\u30891980\u5e74\u4ee3\u307e\u3067\u91d1\u5229\u306f\u540d\u76eeGDP\uff08\u6210\u9577\u7387\uff09\u3088\u308a\u4f4e\u304b\u3063\u305f\u3002\u3060\u304c\u4e00\u672c\u8abf\u5b50\u306b\u4e0a\u304c\u308a\u7d9a\u3051\u308b\u540d\u76eeGDP\u306b\u5f15\u304b\u308c\u3066\u91d1\u5229\u306f\u4e0a\u304c\u308a\u59cb\u3081\u30011980\u5e74\u4ee3\u524d\u534a\u306b\u540d\u76eeGDP\u304c\u6e1b\u901f\u306b\u8ee2\u3058\u308b\u3068\u3001\u305d\u308c\u306b\u5f15\u304b\u308c\u306610\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u3082\u4e0b\u304c\u308a\u59cb\u3081\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30b0\u30e9\u30d5\u3092\u3088\u304f\u898b\u3066\u307f\u308b\u3068\u30011980\u5e74\u4ee3\u524d\u534a\u306b\u91d1\u5229\u304c\u6210\u9577\u7387\u3088\u308a\u9ad8\u304f\u306a\u308a\u3001\u305d\u308c\u306b\u3088\u3063\u3066\u6210\u9577\u7387\u3068\u91d1\u5229\u304c\u4f4e\u4e0b\u30c8\u30ec\u30f3\u30c9\u306b\u79fb\u3063\u3066\u3044\u308b\u306e\u304c\u5206\u304b\u308b\u3002\u3044\u308f\u3086\u308b\u30dd\u30fc\u30eb\u30fb\u30dc\u30eb\u30ab\u30fc\u8b70\u9577\u306e\u30a4\u30f3\u30d5\u30ec\u9000\u6cbb\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27377\" data-type=\"post\" data-id=\"27377\">\u30dd\u30fc\u30eb\u30fb\u30dc\u30eb\u30ab\u30fc\u6c0f\u30011980\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u6253\u5012\u304c\u3069\u308c\u3060\u3051\u53b3\u3057\u304b\u3063\u305f\u304b\u3092\u8a9e\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u30b3\u30ed\u30ca\u5f8c\u306e\u73fe\u91d1\u7d66\u4ed8\u306b\u3088\u3063\u3066\u30a4\u30f3\u30d5\u30ec\u304c\u518d\u3073\u8d77\u3053\u3063\u305f\u3053\u3068\u306b\u3088\u3063\u3066\u540d\u76ee\u306e\uff08\u30a4\u30f3\u30d5\u30ec\u3092\u9664\u304b\u306a\u3044\uff09\u7d4c\u6e08\u6210\u9577\u7387\u304c\u4e0a\u304c\u308a\u59cb\u3081\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306b\u6cbf\u3063\u3066\u91d1\u5229\u3082\u4e0a\u6607\u3057\u3001\u3053\u308c\u307e\u3067\u30bc\u30ed\u91d1\u5229\u3060\u3063\u305f\u83ab\u5927\u306a\u653f\u5e9c\u50b5\u52d9\u306b\u5229\u6255\u3044\u304c\u4ed8\u304d\u59cb\u3081\u3066\u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u52d9\u554f\u984c\u3068\u306a\u308a\u3064\u3064\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/41927\" data-type=\"post\" data-id=\"41927\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u653f\u5e9c\u50b5\u52d9\u306e\u554f\u984c\u306f\u82e5\u8005\u4e16\u4ee3\u3078\u306e\u30c4\u30b1\u3067\u306f\u306a\u304f\u4eca\u306e\u4e16\u4ee3\u306e\u7d4c\u6e08\u5371\u6a5f\u306b\u306a\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u306e\u9577\u671f\u7684\u306a\u7d50\u672b\u306f\u3069\u3046\u306a\u308b\u304b\uff1f\u3000\u6700\u7d42\u7684\u306b\u306f1980\u5e74\u4ee3\u306e\u3088\u3046\u306b\u9577\u671f\u91d1\u5229\u304c\u540d\u76eeGDP\u6210\u9577\u7387\u3092\u4e0a\u56de\u308b\u307b\u3069\u9ad8\u304f\u306a\u3089\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3068\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u898b\u3066\u3044\u308b\u3002\u3082\u3046\u4e00\u5ea6\u30b0\u30e9\u30d5\u3092\u63b2\u8f09\u3057\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\/12\/2023-3q-us-10-year-treasury-bond-yield-and-nominal-gdp-growth-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"496\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/12\/2023-3q-us-10-year-treasury-bond-yield-and-nominal-gdp-growth-chart.png\" alt=\"\" class=\"wp-image-42432\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/12\/2023-3q-us-10-year-treasury-bond-yield-and-nominal-gdp-growth-chart.png 496w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/12\/2023-3q-us-10-year-treasury-bond-yield-and-nominal-gdp-growth-chart-300x282.png 300w\" sizes=\"auto, (max-width: 496px) 100vw, 496px\" \/><\/a><\/figure>\n\n\n\n<p>\u73fe\u5728\u306e\u91d1\u5229\u306f\u540d\u76eeGDP\u6210\u9577\u7387\u3088\u308a\u3082\u307e\u3060\u307e\u3060\u4f4e\u3044\u4f4d\u7f6e\u306b\u3042\u308b\u3002\u91d1\u5229\u304c\u6210\u9577\u7387\u3092\u4e0a\u56de\u308b\u305f\u3081\u306b\u306f\u3001\u304b\u306a\u308a\u5927\u304d\u306a\u91d1\u5229\u4e0a\u6607\u304c\u5fc5\u8981\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u3060\u304b\u3089\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>\u3053\u308c\u306f\u3088\u308a\u9577\u671f\u7684\u306a\u91d1\u5229\u4e0a\u6607\u30c8\u30ec\u30f3\u30c9\u306e\u59cb\u307e\u308a\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u305d\u3057\u3066\u305d\u308c\u306f\u5c11\u306a\u304f\u3068\u3082\u73fe\u5728\u306e\u5dee\u3057\u8feb\u3063\u305f\u653f\u52d9\u50b5\u52d9\u306e\u554f\u984c\u3092\u4e57\u308a\u8d8a\u3048\u308b\u307e\u3067\u7d9a\u304f\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3060\u304c\u77ed\u671f\u7684\u306a\u91d1\u5229\u306e\u52d5\u5411\u306f\u5225\u306e\u554f\u984c\u3067\u3042\u308b\u3002\u6765\u5e74\u306b\u304b\u3051\u3066\u306e\u91d1\u5229\u3092\u8003\u3048\u308b\u306b\u306f\u3001\u666f\u6c17\u5f8c\u9000\u304c\u3044\u3064\u6765\u308b\u304b\u3092\u8003\u3048\u308b\u5fc5\u8981\u304c\u3042\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/41951\" data-type=\"post\" data-id=\"41951\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a4\u30f3\u30d5\u30ec\u304c\u4e0b\u304c\u308b\u9650\u308a\u666f\u6c17\u5f8c\u9000\u306f\u7d76\u5bfe\u306b\u8d77\u304d\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u5f15\u304d\u7d9a\u304d\u3001DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u81ea\u793e\u914d\u4fe1\u3067\u3042\u308b\u3002\u4eca\u56de\u306f\u540d\u76eeGDP\u6210\u9577\u7387\u3068\u306e\u95a2\u9023\u3067\u9577\u671f\u7684\u306a\u91d1\u5229\u52d5\u5411\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u90e8\u5206\u3092\u7d39\u4ecb\u3057\u305f\u3044\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-42427","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\/42427","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=42427"}],"version-history":[{"count":26,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/42427\/revisions"}],"predecessor-version":[{"id":42454,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/42427\/revisions\/42454"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=42427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=42427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=42427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}