{"id":4376,"date":"2016-10-05T13:36:04","date_gmt":"2016-10-05T04:36:04","guid":{"rendered":"http:\/\/www.globalmacroresearch.org\/jp\/?p=4376"},"modified":"2016-10-05T13:36:04","modified_gmt":"2016-10-05T04:36:04","slug":"%e9%87%91%e4%be%a1%e6%a0%bc%e4%b8%8b%e8%90%bd%e3%81%ae%e7%90%86%e7%94%b1%e3%80%81%e4%bb%8a%e5%be%8c%e3%81%ae%e7%9b%b8%e5%a0%b4%e4%ba%88%e6%83%b3%e3%81%a8%e3%83%90%e3%83%96%e3%83%ab%e3%82%b7%e3%83%8a","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/4376","title":{"rendered":"\u91d1\u4fa1\u683c\u4e0b\u843d\u306e\u7406\u7531\u3001\u4eca\u5f8c\u306e\u76f8\u5834\u4e88\u60f3\u3068\u30d0\u30d6\u30eb\u30b7\u30ca\u30ea\u30aa\u518d\u70b9\u691c"},"content":{"rendered":"<p>\u91d1\u4fa1\u683c\u304c\u6025\u843d\u3057\u305f\u3002\u91d1\u76f8\u5834\u3060\u3051\u3067\u306f\u306a\u304f\u5186\u3084\u30e6\u30fc\u30ed\u306a\u3069\u3082\u4e0b\u843d\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u5229\u4e0a\u3052\u61f8\u5ff5\u304c\u518d\u71c3\u3057\u3066\u30c9\u30eb\u9ad8\u306b\u306a\u3063\u305f\u3068\u7c21\u5358\u306b\u8aac\u660e\u3059\u308b\u3053\u3068\u3082\u51fa\u6765\u308b\u304c\u3001\u30b4\u30fc\u30eb\u30c9\u306b\u8ced\u3051\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306f\u91d1\u4fa1\u683c\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u7d4c\u6e08\u6307\u6a19\u306e\u77ed\u671f\u7684\u63a8\u79fb\u3092\u53b3\u5bc6\u306b\u70b9\u691c\u3057\u305f\u4e0a\u3067\u3001\u91d1\u76f8\u5834\u306e\u72b6\u6cc1\u304c\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u306e\u304b\u3092\u3088\u308a\u8a73\u7d30\u306b\u628a\u63e1\u3057\u3066\u304a\u304f\u3079\u304d\u3060\u308d\u3046\u3002\u305d\u3046\u3067\u306a\u3051\u308c\u3070\u4e0a\u304c\u308a\u4e0b\u304c\u308a\u3092\u66d6\u6627\u306b\u7406\u89e3\u3057\u305f\u307e\u307e\u4e00\u559c\u4e00\u6182\u3059\u308b\u8ced\u535a\u5e2b\u306b\u306a\u3063\u3066\u3057\u307e\u3046\u3002<\/p>\n<p><!--more--><strong>\u91d1\u4fa1\u683c\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u7d4c\u6e08\u6307\u6a19<\/strong><\/p>\n<p>\u91d1\u4fa1\u683c\u306f\u3069\u3046\u306a\u308c\u3070\u4e0a\u304c\u308a\u3001\u3069\u3046\u306a\u308c\u3070\u4e0b\u304c\u308b\u306e\u304b\uff1f\u3000\u539f\u6cb9\u3084\u9285\u306a\u3069\u5b9f\u9700\u304c\u5927\u304d\u304f\u5f71\u97ff\u3059\u308b\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3067\u3042\u308c\u3070\u5b9f\u4f53\u7d4c\u6e08\u306b\u304a\u3051\u308b\u9700\u8981\u3068\u4f9b\u7d66\u3092\u8003\u3048\u308b\u3068\u3053\u308d\u3060\u304c\u3001\u30b4\u30fc\u30eb\u30c9\u306f\u91d1\u878d\u9700\u8981\u3001\u3064\u307e\u308a\u4e2d\u592e\u9280\u884c\u3084\u6295\u8cc7\u5bb6\u304c\u901a\u8ca8\u306e\u4ee3\u308f\u308a\u306b\u4fdd\u6709\u3059\u308b\u3068\u3044\u3046\u9700\u8981\u304c\u6bd4\u8f03\u7684\u5927\u304d\u3044\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3067\u3042\u308a\u3001\u7279\u306b\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u878d\u653f\u7b56\u304c\u6295\u8cc7\u5bb6\u306e\u6ce8\u76ee\u3092\u96c6\u3081\u3066\u3044\u308b\u9593\u306f\u305d\u3046\u3067\u3042\u308b\u3002<\/p>\n<p>\u305d\u306e\u89b3\u70b9\u3067\u898b\u308c\u3070\u3001\u91d1\u4fa1\u683c\u306b\u5f71\u97ff\u3059\u308b\u6307\u6a19\u306f\u5927\u304d\u304f\u4ee5\u4e0b\u306e2\u3064\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n<ul>\n<li>\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u308c\u3070\u91d1\u4fa1\u683c\u304c\u4e0a\u304c\u308b<\/li>\n<li>\u4f4e\u91d1\u5229\u306b\u306a\u308c\u3070\u91d1\u306e\u4fa1\u5024\u304c\u76f8\u5bfe\u7684\u306b\u4e0a\u304c\u308b<\/li>\n<\/ul>\n<p>\u30a4\u30f3\u30d5\u30ec\u3068\u306f\u901a\u8ca8\u306e\u4fa1\u5024\u304c\u6bc0\u640d\u3055\u308c\u3066\u3082\u306e\u306e\u4fa1\u5024\u304c\u9ad8\u9a30\u3059\u308b\u3053\u3068\u3067\u3042\u308b\u304b\u3089\u3001\u30a4\u30f3\u30d5\u30ec\u3067\u91d1\u4fa1\u683c\u304c\u4e0a\u304c\u308b\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002\u4e00\u65b9\u3067\u3001\u5f53\u7136\u306a\u304c\u3089\u91d1\u306b\u306f\u91d1\u5229\u304c\u4ed8\u304b\u306a\u3044\u305f\u3081\u3001\u901a\u8ca8\u306e\u91d1\u5229\u304c\u9ad8\u3044\u9593\u306f\u6295\u8cc7\u5bb6\u306f\u91d1\u5229\u306e\u306a\u3044\u30b4\u30fc\u30eb\u30c9\u3088\u308a\u3082\u91d1\u5229\u306e\u5f97\u3089\u308c\u308b\u9810\u91d1\u3092\u597d\u3080\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n<p>\u3055\u3066\u3001\u7d4c\u6e08\u5b66\u306b\u306f\u30a4\u30f3\u30d5\u30ec\u3068\u540d\u76ee\u91d1\u5229\uff08\u5e02\u5834\u3067\u6c7a\u5b9a\u3055\u308c\u308b\u91d1\u5229\uff09\u3092\u7d44\u307f\u5408\u308f\u305b\u305f\u6307\u6a19\u304c\u3042\u308b\u3002\u5b9f\u8cea\u91d1\u5229\u3067\u3042\u308b\u3002<\/p>\n<ul>\n<li>\u5b9f\u8cea\u91d1\u5229 = \u540d\u76ee\u91d1\u5229 &#8211; \u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387<\/li>\n<\/ul>\n<p>\u3053\u306e\u5f0f\u3092\u898b\u308c\u3070\u3001\u4e2d\u592e\u9280\u884c\u306e\u5229\u4e0b\u3052\u3067\u540d\u76ee\u91d1\u5229\u304c\u4e0b\u304c\u308c\u3070\u5b9f\u8cea\u91d1\u5229\u304c\u4e0b\u304c\u308a\u3001\u307e\u305f\u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4e0a\u304c\u308c\u3070\u5b9f\u8cea\u91d1\u5229\u304c\u4e0b\u304c\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u3053\u3053\u307e\u3067\u306e\u8b70\u8ad6\u3092\u7d44\u307f\u5408\u308f\u305b\u308b\u3068\u3001\u5b9f\u8cea\u91d1\u5229\u304c\u4e0b\u304c\u308c\u3070\u91d1\u4fa1\u683c\u304c\u4e0a\u304c\u308b\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n<p><strong>\u5b9f\u8cea\u91d1\u5229\u3068\u91d1\u4fa1\u683c<\/strong><\/p>\n<p>\u3053\u308c\u306f\u76f8\u5834\u306e\u52d5\u304d\u3067\u3082\u78ba\u8a8d\u3067\u304d\u308b\u3053\u3068\u3067\u3042\u308b\u3002\u4ee5\u4e0b\u306f\u91d1\u4fa1\u683c\u3068\u30a2\u30e1\u30ea\u30ab\u306e\u5b9f\u8cea\u91d1\u5229\u306e\u30c1\u30e3\u30fc\u30c8\u3067\u3042\u308b\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/08\/2016-jul-gold-price-and-10-year-treasury-inflation-protected-security.png\" rel=\"attachment wp-att-4029\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4029\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/08\/2016-jul-gold-price-and-10-year-treasury-inflation-protected-security.png\" alt=\"2016-jul-gold-price-and-10-year-treasury-inflation-protected-security\" width=\"441\" height=\"397\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/08\/2016-jul-gold-price-and-10-year-treasury-inflation-protected-security.png 441w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/08\/2016-jul-gold-price-and-10-year-treasury-inflation-protected-security-300x270.png 300w\" sizes=\"auto, (max-width: 441px) 100vw, 441px\" \/><\/a><\/p>\n<p>\u78ba\u304b\u306b\u53cd\u76f8\u95a2\u3068\u306a\u3063\u3066\u3044\u308b\u3002\u3067\u306f\u4eca\u56de\u306e\u4e0b\u843d\u3082\u5b9f\u8cea\u91d1\u5229\u304c\u4e0a\u304c\u3063\u305f\u304b\u3089\u91d1\u4fa1\u683c\u304c\u4e0b\u843d\u3057\u305f\u3068\u3044\u3046\u3053\u3068\u306a\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u4eca\u56de\u306e\u5834\u5408\u3001\u5b9f\u306f\u305d\u3046\u3068\u306f\u8a00\u3048\u306a\u3044\u3002\u4e0a\u8a18\u306f\u9577\u671f\u306e\u30c1\u30e3\u30fc\u30c8\u3060\u304c\u3001\u6b21\u306f\u76f4\u8fd11\u5e74\u307b\u3069\u306e\u65e5\u8db3\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u3066\u307f\u305f\u3044\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/10\/2016-10-5-gold-price-and-10-year-treasury-inflation-protected-security-chart.png\" rel=\"attachment wp-att-4379\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4379\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/10\/2016-10-5-gold-price-and-10-year-treasury-inflation-protected-security-chart.png\" alt=\"2016-10-5-gold-price-and-10-year-treasury-inflation-protected-security-chart\" width=\"583\" height=\"402\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/10\/2016-10-5-gold-price-and-10-year-treasury-inflation-protected-security-chart.png 583w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/10\/2016-10-5-gold-price-and-10-year-treasury-inflation-protected-security-chart-300x207.png 300w\" sizes=\"auto, (max-width: 583px) 100vw, 583px\" \/><\/a><\/p>\n<p>\u9577\u671f\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u308c\u3070\u7dba\u9e97\u306b\u53cd\u76f8\u95a2\u3068\u306a\u3063\u3066\u3044\u305f\u30c1\u30e3\u30fc\u30c8\u3082\u3001\u77ed\u671f\u7684\u306b\u306f\u53cd\u76f8\u95a2\u3068\u306a\u3063\u3066\u3044\u306a\u3044\u90e8\u5206\u3082\u3042\u308b\u3053\u3068\u304c\u78ba\u8a8d\u3067\u304d\u308b\u3002\u76f4\u8fd1\u306e\u90e8\u5206\u3067\u306f\u3001\u5b9f\u8cea\u91d1\u5229\u304c\u4e0b\u304c\u3063\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u91d1\u4fa1\u683c\u304c\u4e0a\u304c\u3063\u3066\u3044\u306a\u3044\u3002\u3053\u308c\u304c\u4f55\u6545\u304b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n<p><strong>\u77ed\u671f\u7684\u306b\u53cd\u76f8\u95a2\u3067\u306f\u306a\u3044\u5834\u5408\u304c\u3042\u308b\u7406\u7531<\/strong><\/p>\n<p>\u6982\u3057\u3066\u8a00\u3048\u308b\u306e\u306f\u3001\u5b9f\u8cea\u91d1\u5229\u3088\u308a\u3082\u91d1\u76f8\u5834\u306e\u65b9\u304c\u6295\u6a5f\u7684\u3067\u3042\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u3060\u304b\u3089\u3053\u305d\u9ad8\u9a30\u3059\u308c\u3070\u9ad8\u304f\u307e\u3067\u4e0a\u304c\u3063\u3066\u3086\u304f\u304c\u3001\u4e00\u65b9\u3067\u611f\u60c5\u7684\u306a\u52d5\u304d\u3092\u898b\u305b\u308b\u3053\u3068\u3082\u3042\u308b\u3002<\/p>\n<p>\u518d\u3073\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u308c\u3070\u3001\u73fe\u5728\u3088\u308a\u3082\u4ee5\u524d\u306b\u53cd\u76f8\u95a2\u3067\u306f\u306a\u304f\u306a\u3063\u305f\u306e\u306f2015\u5e74\u306e11\u6708\u672b\u3067\u3042\u308b\u3002\u91d1\u4fa1\u683c\u304c\u5927\u5e95\u306b\u5411\u304b\u3063\u3066\u843d\u3061\u3066\u3086\u304f\u4e00\u65b9\u3067\u3001\u9577\u671f\u91d1\u5229\u3082\u77ed\u671f\u7684\u306a\u4e0b\u843d\u3092\u898b\u305b\u3066\u3044\u308b\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/10\/2016-10-5-gold-price-and-10-year-treasury-inflation-protected-security-chart.png\" rel=\"attachment wp-att-4379\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4379\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/10\/2016-10-5-gold-price-and-10-year-treasury-inflation-protected-security-chart.png\" alt=\"2016-10-5-gold-price-and-10-year-treasury-inflation-protected-security-chart\" width=\"583\" height=\"402\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/10\/2016-10-5-gold-price-and-10-year-treasury-inflation-protected-security-chart.png 583w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/10\/2016-10-5-gold-price-and-10-year-treasury-inflation-protected-security-chart-300x207.png 300w\" sizes=\"auto, (max-width: 583px) 100vw, 583px\" \/><\/a><\/p>\n<p>2015\u5e7411\u6708\u304c\u3069\u3046\u3044\u3046\u72b6\u6cc1\u3067\u3042\u3063\u305f\u304b\u3068\u8a00\u3048\u3070\u3001\u91cf\u7684\u7de9\u548c\u7d42\u4e86\u5f8c\u306e1\u56de\u76ee\u306e\u5229\u4e0a\u3052\u304c\u884c\u308f\u308c\u305f12\u6708\u306e\u76f4\u524d\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002\u5f53\u6642\u306eFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306f\u5e74\u95934\u56de\u306e\u5229\u4e0a\u3052\u3092\u4e3b\u5f35\u3057\u3066\u3044\u305f\u304b\u3089\u30011\u5ea6\u76ee\u306e\u5229\u4e0a\u3052\u306b\u8e0f\u307f\u8fbc\u3080Fed\u3092\u898b\u3066\u3001\u5f15\u304d\u7d9a\u304d\u306e\u5229\u4e0a\u3052\u7d99\u7d9a\u304c\u610f\u8b58\u3055\u308c\u3001\u6295\u8cc7\u5bb6\u306f\u30b4\u30fc\u30eb\u30c9\u304b\u3089\u9003\u3052\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3068\u611f\u3058\u305f\u306e\u3060\u308d\u3046\u3002\u3053\u308c\u306f\u308f\u305f\u3057\u304c\u91d1\u4fa1\u683c\u306e\u5e95\u5024\u3092\u4f3a\u3063\u3066\u3044\u305f\u6642\u671f\u3067\u3042\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/2196\">2016\u5e74\u91d1\u4fa1\u683c\u306e\u63a8\u79fb\u4e88\u60f3: \u91d1\u306f\u66b4\u9a30\u3059\u308b\u304c\u3044\u3064\u8cb7\u3046\u3079\u304d\u304b\uff1f\u3000\u5229\u4e0a\u3052\u306e\u5f71\u97ff\u3068\u7c73\u56fd\u7d4c\u6e08\u306e\u52d5\u5411\uff082015\/12\/26\uff09<\/a><\/li>\n<\/ul>\n<p>\u4e00\u65b9\u3067\u3001\u50b5\u5238\u5e02\u5834\uff08\u91d1\u5229\u5e02\u5834\uff09\u306f\u3088\u308a\u51b7\u9759\u306a\u52d5\u304d\u3092\u898b\u305b\u3066\u3044\u305f\u3053\u3068\u306b\u306a\u308b\u3002\u5b9f\u8cea\u91d1\u5229\u304c\u4e00\u5ea6\u4e0b\u304c\u3063\u3066\u3044\u308b\u306e\u306f\u3001\u5229\u4e0a\u3052\u306e\u9577\u671f\u7684\u7d99\u7d9a\u306b\u7591\u554f\u3092\u5448\u3057\u305f\u6295\u8cc7\u5bb6\u304c\u5c45\u305f\u3068\u3044\u3046\u3053\u3068\u3060\u308d\u3046\u3002\u5c11\u306a\u304f\u3068\u3082\u91d1\u76f8\u5834\u3088\u308a\u306f\u611f\u60c5\u7684\u3067\u306f\u306a\u304b\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n<p><strong>\u4eca\u56de\u306e\u91d1\u4e0b\u843d<\/strong><\/p>\n<p>\u3053\u3053\u307e\u3067\u8003\u3048\u308c\u3070\u3001\u4eca\u56de\u306e\u91d1\u4e0b\u843d\u306e\u6027\u8cea\u304c\u898b\u3048\u3066\u304f\u308b\u3002\u3053\u308c\u307e\u3067\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u6e1b\u901f\u306b\u3088\u308b\u5229\u4e0a\u3052\u89b3\u6e2c\u306e\u610f\u5916\u306a\u5f8c\u9000\u306b\u3088\u3063\u3066\u30b4\u30fc\u30eb\u30c9\u3092\u8cb7\u3044\u9032\u3081\u3066\u3044\u305f\u6295\u8cc7\u5bb6\u305f\u3061\u304c\u30012016\u5e74\u672b\u306e2\u5ea6\u76ee\u306e\u5229\u4e0a\u3052\u3092\u524d\u306b\u3057\u3066\u3001\u5229\u4e0a\u3052\u304c\u3042\u308b\u306e\u3067\u3042\u308c\u3070\u73fe\u5728\u306e\u91d1\u4fa1\u683c\u306f\u4e0a\u304c\u308a\u3059\u304e\u3060\u3068\u611f\u3058\u305f\u306e\u3060\u308d\u3046\u3002<\/p>\n<p>\u305d\u308c\u306f\u91d1\u5229\u3068\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u8003\u616e\u3057\u305f\u5b66\u8853\u7684\u306a\u6295\u8cc7\u5224\u65ad\u3067\u306f\u306a\u304f\u3001\u611f\u60c5\u7684\u3067\u6295\u6a5f\u7684\u306a\u52d5\u304d\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u91d1\u76f8\u5834\u306f\u305d\u3046\u3044\u3046\u3082\u306e\u306b\u5de6\u53f3\u3055\u308c\u308b\u306e\u3060\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u982d\u306b\u5165\u308c\u3066\u304a\u304f\u3079\u304d\u3067\u3042\u308b\u3002<\/p>\n<p>\u4e00\u65b9\u3067\u3001\u91d1\u76f8\u5834\u306e\u9577\u671f\u898b\u901a\u3057\u306f\u3084\u306f\u308a\u5b9f\u8cea\u91d1\u5229\u306b\u5de6\u53f3\u3055\u308c\u308b\u3002\u9577\u671f\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u308c\u3070\u3001\u91d1\u76f8\u5834\u3068\u5b9f\u8cea\u91d1\u5229\u306e\u53cd\u76f8\u95a2\u304c\u5927\u5e45\u306b\u5916\u308c\u305f\u3053\u3068\u306f\u306a\u304f\u3001\u305d\u3057\u3066\u7406\u8ad6\u7684\u306b\u3082\u3084\u306f\u308a\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u5229\u304c\u91d1\u4fa1\u683c\u3092\u5de6\u53f3\u3059\u308b\u3068\u5224\u65ad\u3059\u3079\u304d\u3067\u3042\u308b\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/08\/2016-jul-gold-price-and-10-year-treasury-inflation-protected-security.png\" rel=\"attachment wp-att-4029\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4029\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/08\/2016-jul-gold-price-and-10-year-treasury-inflation-protected-security.png\" alt=\"2016-jul-gold-price-and-10-year-treasury-inflation-protected-security\" width=\"441\" height=\"397\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/08\/2016-jul-gold-price-and-10-year-treasury-inflation-protected-security.png 441w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/08\/2016-jul-gold-price-and-10-year-treasury-inflation-protected-security-300x270.png 300w\" sizes=\"auto, (max-width: 441px) 100vw, 441px\" \/><\/a><\/p>\n<p>\u73fe\u5728\u3001\u5b9f\u8cea\u91d1\u5229\u306f\u30bc\u30ed\u8fd1\u8fba\u3067\u3042\u308a\u3001\u540d\u76ee\u91d1\u5229\u306f1.6%\u3067\u3042\u308b\u304b\u3089\u3001\u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387\u30821.6%\u7a0b\u5ea6\u3067\u3042\u308b\u3002\u3053\u308c\u306f\u539f\u6cb9\u4fa1\u683c\u306e\u4f4e\u8ff7\u306b\u8db3\u3092\u5f15\u3063\u5f35\u3089\u308c\u3066\u3044\u308b\u6570\u5024\u3067\u3042\u308a\u3001\u539f\u6cb9\u3068\u98df\u54c1\u3092\u9664\u304f\u30b3\u30a2\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u6700\u65b0\u306e\u30c7\u30fc\u30bf\u30672.3%\u3068\u306a\u3063\u3066\u3044\u308b\u304b\u3089\u3001\u539f\u6cb9\u4fa1\u683c\u306e\u5e95\u304c\u78ba\u5b9a\u3059\u308b\u306b\u5f93\u3063\u3066\u5168\u4f53\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u3082\u3044\u305a\u308c2%\u306b\u5411\u3051\u3066\u4e0a\u6607\u3057\u3066\u3086\u304f\u3068\u8003\u3048\u308b\u3079\u304d\u3067\u3042\u308b\u3002<\/p>\n<p>\u4e00\u65b9\u3067\u3001\u540d\u76ee\u91d1\u5229\u306fFed\u306e\u91d1\u878d\u653f\u7b56\u6b21\u7b2c\u3060\u304c\u3001\u308f\u305f\u3057\u3084\u305d\u306e\u4ed6\u306e\u6295\u8cc7\u5bb6\u304c\u3082\u30461\u5e74\u4ee5\u4e0a\u4e88\u60f3\u3057\u3066\u304d\u305f\u901a\u308a\u3001Fed\u304c\u5229\u4e0a\u3052\u3092\u65ad\u5ff5\u3057\u3001\u5229\u4e0b\u3052\u304b\u3089\u91cf\u7684\u7de9\u548c\u306e\u518d\u958b\u306b\u5411\u304b\u3046\u3068\u3059\u308c\u3070\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u540d\u76ee\u91d1\u5229\u306f\u65e5\u672c\u3084\u30e8\u30fc\u30ed\u30c3\u30d1\u306e\u3088\u3046\u306b\u30bc\u30ed\u306b\u5411\u3051\u3066\u4e0b\u304c\u3063\u3066\u3086\u304f\u3068\u898b\u308b\u3079\u304d\u3060\u308d\u3046\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/2946\">\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f: \u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u6e1b\u901f\u3059\u308b\u3001\u5229\u4e0a\u3052\u306f\u5931\u6557\u3059\u308b\u3001\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u306f\u52b9\u304b\u306a\u3044<\/a><\/li>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/2610\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u5e74\u5185\u5229\u4e0a\u3052\u306f\u6df1\u523b\u306a\u8aa4\u308a\u306b\u3001\u305d\u3057\u3066\u7c73\u56fd\u306f\u91cf\u7684\u7de9\u548c\u3092\u518d\u958b\u3059\u308b<\/a><\/li>\n<\/ul>\n<p>\u305d\u306e\u30b7\u30ca\u30ea\u30aa\u304c\u73fe\u5b9f\u306e\u3082\u306e\u3068\u306a\u308c\u3070\u3001\u91d1\u4fa1\u683c\u306f\u3069\u3046\u306a\u308b\u304b\uff1f\u3000\u4eee\u306b\u30a4\u30f3\u30d5\u30ec\u7387\u304c2%\u306b\u306a\u308a\u3001\u9577\u671f\u91d1\u5229\u304c0.5%\u307e\u3067\u4e0b\u304c\u3063\u305f\u3068\u3059\u308c\u3070\u3001\u5b9f\u8cea\u91d1\u5229\u306f-1.5%\u3068\u306a\u308b\u3002\u3053\u308c\u307e\u3067\u306e\u63a8\u79fb\u3092\u898b\u308c\u3070\u3001\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u5f8c\u306e\u91cf\u7684\u7de9\u548c\u3067\u3082\u5b9f\u8cea\u91d1\u5229\u306f-1%\u307e\u3067\u4e0b\u304c\u3089\u306a\u304b\u3063\u305f\u306e\u3067\u3042\u308a\u3001\u305d\u308c\u3067\u3082\u91d1\u4fa1\u683c\u306f1,800\u30c9\u30eb\u307e\u3067\u4e0a\u6607\u3057\u305f\u3002\u3057\u305f\u304c\u3063\u3066\u305d\u308c\u304c-1.5%\u307e\u3067\u4e0b\u304c\u308b\u306e\u3067\u3042\u308c\u3070\u3001\u91d1\u4fa1\u683c\u306f\u3084\u306f\u308a2,000\u30c9\u30eb\u307e\u3067\u4e0a\u304c\u308b\u3068\u898b\u308b\u3079\u304d\u3060\u308d\u3046\u3002<\/p>\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n<p>\u4eca\u56de\u306e\u4e0b\u843d\u306f\u3084\u3084\u6025\u306a\u52d5\u304d\u3067\u3042\u3063\u305f\u305f\u3081\u306b\u3001\u6238\u60d1\u3063\u305f\u91d1\u6295\u8cc7\u5bb6\u3082\u3044\u308b\u3053\u3068\u3060\u308d\u3046\u3002\u3057\u304b\u3057\u308f\u305f\u3057\u3092\u542b\u3081\u3001\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u306b\u8ced\u3051\u308b\u6295\u8cc7\u5bb6\u306b\u8a00\u3048\u308b\u3053\u3068\u306f\u4e00\u3064\u3060\u3051\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u6e1b\u901f\u3092\u9577\u671f\u30c8\u30ec\u30f3\u30c9\u3068\u3057\u3066\u4fe1\u3058\u308b\u306e\u3067\u3042\u308c\u3070\u30b4\u30fc\u30eb\u30c9\u306f\u8cb7\u3044\u3001\u305d\u3046\u3067\u306a\u3051\u308c\u3070\u30b4\u30fc\u30eb\u30c9\u306f\u8cb7\u3044\u3067\u306f\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u305d\u306e\u30b7\u30ca\u30ea\u30aa\u304c\u5b9f\u73fe\u3059\u308c\u3070\u3001\u91d1\u6295\u8cc7\u5bb6\u306f\u5229\u76ca\u3092\u5f97\u308b\u3002\u305d\u3046\u3067\u306a\u3051\u308c\u3070\u3001\u8cb7\u3044\u5024\u306b\u3082\u3088\u308b\u304c\u640d\u5931\u304c\u51fa\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n<p>\u6295\u8cc7\u5bb6\u304c\u4e00\u756a\u3084\u3063\u3066\u306f\u306a\u3089\u306a\u3044\u306e\u306f\u3001\u77ed\u671f\u7684\u306a\u76f8\u5834\u306e\u52d5\u304d\u306b\u63fa\u3089\u3055\u308c\u3066\u81ea\u5206\u306e\u9577\u671f\u7684\u306a\u7acb\u3061\u4f4d\u7f6e\u3092\u983b\u7e41\u306b\u5909\u3048\u308b\u3053\u3068\u3067\u3042\u308b\u3002\u7c73\u56fd\u306e\u5229\u4e0a\u3052\u304c\u5b8c\u5168\u306b\u64a4\u56de\u3055\u308c\u308b\u307e\u3067\u3001\u91d1\u4fa1\u683c\u306e\u4e0d\u5b89\u5b9a\u306a\u52d5\u304d\u306f\u7d9a\u304f\u3060\u308d\u3046\u3002\u3053\u308c\u307b\u3069\u9577\u3089\u304f\u5229\u4e0a\u3052\u3092\u4e3b\u5f35\u3057\u3066\u304d\u305f\u30a4\u30a8\u30ec\u30f3\u8b70\u9577\u306f\u3042\u308b\u7a0b\u5ea6\u306e\u62b5\u6297\u3092\u898b\u305b\u308b\u3060\u308d\u3046\u304b\u3089\u3067\u3042\u308b\u3002\u3060\u304b\u3089\u9577\u671f\u7684\u306a\u30b9\u30bf\u30f3\u30b9\u3092\u3057\u3063\u304b\u308a\u3068\u78ba\u304b\u3081\u3001\u899a\u609f\u3092\u6c7a\u3081\u308b\u3053\u3068\u3067\u3042\u308b\u3002\u77ed\u671f\u7684\u306a\u30d8\u30c3\u30b8\u304c\u5fc5\u8981\u3068\u306a\u308b\u5834\u9762\u3082\u3042\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001\u9577\u671f\u898b\u901a\u3057\u306f\u305d\u3046\u7c21\u5358\u306b\u306f\u5909\u308f\u3089\u306a\u3044\u3002<\/p>\n<p>\u81ea\u5206\u306e\u7d4c\u6e08\u898b\u901a\u3057\u304c\u6b63\u3057\u3051\u308c\u3070\u5229\u76ca\u3092\u5f97\u308b\u3002\u305d\u3046\u3067\u306a\u3051\u308c\u3070\u640d\u5931\u3092\u88ab\u308b\u3002\u6295\u8cc7\u306a\u306e\u3060\u304b\u3089\u305d\u308c\u304c\u5f53\u7136\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u76f8\u5834\u306e\u77ed\u671f\u7684\u306a\u5024\u52d5\u304d\u306b\u63fa\u3089\u3055\u308c\u3066\u3057\u307e\u3048\u3070\u3001\u898b\u901a\u3057\u304c\u6b63\u3057\u304f\u3068\u3082\u640d\u5931\u3092\u88ab\u3063\u3066\u3057\u307e\u3046\u3053\u3068\u306b\u3082\u306a\u308a\u304b\u306d\u306a\u3044\u3002<\/p>\n<p>\u3042\u306a\u305f\u304c\u8ced\u3051\u308b\u4e16\u754c\u7d4c\u6e08\u306e\u30b7\u30ca\u30ea\u30aa\u306f\u3069\u3061\u3089\u306e\u3082\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u5c11\u306a\u304f\u3068\u3082\u308f\u305f\u3057\u81ea\u8eab\u306e\u898b\u901a\u3057\u306f\u3053\u308c\u307e\u3067\u8a71\u3057\u3066\u304d\u305f\u901a\u308a\u3067\u3042\u308a\u3001\u305d\u308c\u3092\u4fe1\u3058\u305f\u7d50\u679c\u3068\u3057\u3066\u306e\u5229\u76ca\u3082\u640d\u5931\u3082\u53d7\u3051\u5165\u308c\u308b\u3064\u3082\u308a\u3067\u3042\u308b\u3002\u76f8\u5834\u306b\u304a\u3044\u3066\u306f\u3059\u3079\u3066\u306f\u81ea\u8eab\u306e\u5224\u65ad\u6b21\u7b2c\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&hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/4376\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u91d1\u4fa1\u683c\u4e0b\u843d\u306e\u7406\u7531\u3001\u4eca\u5f8c\u306e\u76f8\u5834\u4e88\u60f3\u3068\u30d0\u30d6\u30eb\u30b7\u30ca\u30ea\u30aa\u518d\u70b9\u691c<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[118,57,108,110],"tags":[64,113],"class_list":["post-4376","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-commodity-markets","category-bond-markets","category-gold","tag-fed","tag-gold-price-prediction"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/4376","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=4376"}],"version-history":[{"count":13,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/4376\/revisions"}],"predecessor-version":[{"id":4391,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/4376\/revisions\/4391"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=4376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=4376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=4376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}