{"id":49203,"date":"2024-05-26T20:00:00","date_gmt":"2024-05-26T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=49203"},"modified":"2024-05-26T12:03:45","modified_gmt":"2024-05-26T03:03:45","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e7%b1%b3%e5%9b%bd%e3%81%ae%e5%b9%b4%e9%87%91%e3%81%af%e3%82%a4%e3%83%b3%e3%83%95%e3%83%ac%e9%ab%98%e9%87%91%e5%88%a9%e3%81%a7%e3%81%82","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/49203","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u7c73\u56fd\u306e\u5e74\u91d1\u306f\u30a4\u30f3\u30d5\u30ec\u9ad8\u91d1\u5229\u3067\u3042\u30684\u5e74\u3067\u7834\u7dbb\u3059\u308b"},"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\u52d5\u753b\u306b\u304a\u3051\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u65e5\u672c\u3067\u3082\u5c06\u6765\u5927\u5e45\u306b\u6e1b\u984d\u3055\u308c\u308b\u3053\u3068\u304c\u907f\u3051\u3089\u308c\u306a\u3044\u5e74\u91d1\u306e\u554f\u984c\u306f\u8a71\u984c\u306b\u306a\u3063\u3066\u3044\u308b\u304c\u3001\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u3066\u3053\u306e\u554f\u984c\u306f\u66f4\u306b\u5dee\u3057\u8feb\u3063\u3066\u3044\u308b\u3088\u3046\u3060\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u7c73\u56fd\u306e\u8ca1\u653f\u8d64\u5b57<\/strong><\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u666f\u6c17\u306f\u60aa\u304f\u306a\u3044\u304c\u3001\u305d\u308c\u306f\u4e16\u754c\u7684\u306a\u30a4\u30f3\u30d5\u30ec\u3092\u3082\u305f\u3089\u3057\u305f\u30b3\u30ed\u30ca\u5f8c\u306e\u83ab\u5927\u306a\u73fe\u91d1\u7d66\u4ed8\u306e\u304a\u9670\u3067\u3042\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>\u3053\u306e\u73fe\u91d1\u7d66\u4ed8\u306e\u304a\u9670\u3067\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u306f2020\u5e74\u306bGDP\u6bd4\u306e15%\u3068\u3044\u3046\u672a\u66fe\u6709\u306e\u6c34\u6e96\u306b\u307e\u3067\u81a8\u3089\u3093\u3060\u304c\u3001\u554f\u984c\u306f\u8ca1\u653f\u8d64\u5b57\u306f\u4eca\u3082\u306a\u304a\u304b\u306a\u308a\u9ad8\u3044\u6c34\u6e96\u306b\u7559\u307e\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>GDP\u6bd4\u306e\u8ca1\u653f\u8d64\u5b57\u306f\u4ee5\u4e0b\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\/2024\/05\/2023-us-federal-surplus-to-gdp-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2024\/05\/2023-us-federal-surplus-to-gdp-chart.png\" alt=\"\" class=\"wp-image-49215\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2024\/05\/2023-us-federal-surplus-to-gdp-chart.png 450w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2024\/05\/2023-us-federal-surplus-to-gdp-chart-290x300.png 290w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><\/a><\/figure>\n\n\n\n<p>\u653f\u5e9c\u306e\u652f\u51fa\u306fGDP\u306e\u69cb\u6210\u8981\u7d20\u306a\u306e\u3067\u3001\u305d\u306e\u307e\u307eGDP\u3092\u62bc\u3057\u4e0a\u3052\u308b\u3002\u3060\u304b\u3089\u3001\u9006\u306b\u8a00\u3048\u3070\u30a2\u30e1\u30ea\u30ab\u306f\u3053\u306e\u30ec\u30d9\u30eb\u306e\u8ca1\u653f\u8d64\u5b57\u3092\u7d9a\u3051\u306a\u3051\u308c\u3070\u4eca\u306e\u7d4c\u6e08\u6210\u9577\u7387\u3092\u4fdd\u3066\u306a\u3044\u3068\u3044\u3046\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\/47871\" data-type=\"post\" data-id=\"47871\">\u9ad8\u91d1\u5229\u304c\u660e\u3089\u304b\u306b\u52b9\u3044\u3066\u3044\u308b\u7b2c1\u56db\u534a\u671f\u7c73\u56fdGDP\u3001\u4eca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u3067\u66f4\u306a\u308b\u6e1b\u901f\u304b<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u8ca1\u653f\u8d64\u5b57\u306e\u554f\u984c<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u8ca1\u653f\u8d64\u5b57\u306f\u3053\u308c\u307e\u3067\u3082\u5897\u3048\u3066\u304d\u305f\u3002\u3053\u308c\u304b\u3089\u3082\u5897\u3048\u308b\u3053\u3068\u304c\u4f55\u6545\u554f\u984c\u306a\u306e\u304b\u3002<\/p>\n\n\n\n<p>\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>\u6b21\u306e\u666f\u6c17\u5f8c\u9000\u3067\u306fGDP\u6bd412%\u307b\u3069\u306e\u8ca1\u653f\u8d64\u5b57\u304c1\u5e74\u304b2\u5e74\u307b\u3069\u7d9a\u304f\u3053\u3068\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u304b\u306a\u308a\u6050\u308d\u3057\u3044\u3053\u3068\u3060\u3002\u501f\u308a\u63db\u3048\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u56fd\u50b5\u304c\u65e2\u306b\u5927\u91cf\u306b\u5b58\u5728\u3057\u3066\u3044\u308b\u304b\u3089\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u5fc3\u914d\u3057\u3066\u3044\u308b\u306e\u306f\u3001\u6b21\u306b\u666f\u6c17\u5f8c\u9000\u304c\u8d77\u3053\u3063\u305f\u3068\u304d\u306b\u3001\u7d4c\u6e08\u5371\u6a5f\u306b\u5bfe\u5fdc\u3059\u308b\u305f\u3081\u306b\u56fd\u50b5\u3092\u66f4\u306b\u767a\u884c\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u56fd\u50b5\u3092\u5927\u91cf\u767a\u884c\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3051\u308c\u3070\u4f55\u304c\u307e\u305a\u3044\u306e\u304b\uff1f\u3000\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>\u4eba\u3005\u304c\u5fc3\u7406\u7684\u306b\u3082\u7d4c\u6e08\u5b66\u7684\u306b\u3082\u7e54\u308a\u8fbc\u3081\u3066\u3044\u306a\u3044\u306e\u306f\u3001\u5143\u3005\u91d1\u5229\u304c0.25%\u30840.5%\u30841%\u3060\u3063\u305f\u56fd\u50b5\u3067\u3001\u4eca\u5f8c3\u5e74\u3067\u501f\u308a\u63db\u3048\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3082\u306e\u304c17\u5146\u30c9\u30eb\u3082\u5b58\u5728\u3057\u3066\u3044\u308b\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u3089\u306e\u56fd\u50b5\u304c0.25%\u306e\u91d1\u5229\u3067\u518d\u767a\u884c\u3055\u308c\u308b\u3053\u3068\u306f\u3042\u308a\u305d\u3046\u3082\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u73fe\u5728\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u7b56\u91d1\u5229\u306f5.25%\u3067\u3042\u308b\u3002\u56fd\u50b5\u3082\u3059\u3079\u3066\u306e\u3082\u306e\u304c5%\u524d\u5f8c\u3067\u63a8\u79fb\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u4f55\u6545\u3053\u308c\u304c\u554f\u984c\u304b\u3068\u8a00\u3048\u3070\u3001\u91d1\u5229\u304c\u4e0a\u6607\u3057\u305f2021\u5e74\u3088\u308a\u524d\u306b\u767a\u884c\u3055\u308c\u305f\u56fd\u50b5\u3067\u3042\u308c\u3070\u307b\u3068\u3093\u3069\u91d1\u5229\u304c\u4ed8\u3044\u3066\u3044\u306a\u304b\u3063\u305f\u3082\u306e\u304c\u3001\u501f\u308a\u63db\u3048\u306e\u6642\u671f\u304c\u6765\u308c\u3070\u4eca\u306e\u9ad8\u3044\u91d1\u5229\u6c34\u6e96\u3067\u501f\u308a\u63db\u3048\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u6025\u901f\u306b\u81a8\u5f35\u3059\u308b\u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u52d9\u5229\u6255\u3044<\/strong><\/p>\n\n\n\n<p>\u7d50\u679c\u3068\u3057\u3066\u3001\u7c73\u56fd\u653f\u5e9c\u306e\u56fd\u50b5\u306b\u5bfe\u3059\u308b\u5229\u6255\u3044\u306fGDP\u6bd4\u3067\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u6025\u901f\u306b\u81a8\u5f35\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\/2024\/05\/2023-4q-us-federal-government-interest-payment-to-gdp-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2024\/05\/2023-4q-us-federal-government-interest-payment-to-gdp-chart.png\" alt=\"\" class=\"wp-image-49222\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2024\/05\/2023-4q-us-federal-government-interest-payment-to-gdp-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2024\/05\/2023-4q-us-federal-government-interest-payment-to-gdp-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p>\u7c73\u56fd\u653f\u5e9c\u306e\u56fd\u50b5\u306e\u5229\u6255\u3044\u306f\u65e2\u306bGDP\u306e1%\u4ee5\u4e0a\u5897\u52a0\u3057\u3066\u304a\u308a\u3001\u56fd\u50b5\u306e\u5229\u6255\u3044\u306e\u305f\u3081\u306b\u56fd\u50b5\u3092\u767a\u884c\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u72b6\u6cc1\u306b\u8ffd\u3044\u8fbc\u307e\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u306e\u65b0\u3057\u304f\u767a\u884c\u3055\u308c\u305f\u56fd\u50b5\u306b\u30825%\u306e\u91d1\u5229\u304c\u4ed8\u304f\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u7c73\u56fd\u653f\u5e9c\u306f\u5d16\u3063\u3077\u3061\u3067\u3042\u308b\u3002\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>\u3060\u304b\u3089\u6b21\u306e\u666f\u6c17\u5f8c\u9000\u3067\u8ca1\u653f\u8d64\u5b57\u304c\u62e1\u5927\u3059\u308b\u6642\u306b\u5927\u91cf\u306e\u56fd\u50b5\u3092\u767a\u884c\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308c\u3070\u3001\u7d4c\u6e08\u5371\u6a5f\u306f\u6700\u5927\u898f\u6a21\u306e\u3082\u306e\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u56fd\u50b5\u306e\u671f\u9650\u304c\u6765\u308b\u306b\u3057\u305f\u304c\u3063\u3066\u793e\u4f1a\u4fdd\u969c\u3092\u524a\u6e1b\u3059\u308b\u304b\u518d\u7de8\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308b\u304b\u3089\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u7d4c\u6e08\u5371\u6a5f\u306f\u5e74\u91d1\u304b\u3089<\/strong><\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u304d\u308b\u307e\u3067\u306f\u4f55\u306e\u554f\u984c\u3082\u306a\u304b\u3063\u305f\u306f\u305a\u306e\u653f\u5e9c\u306e\u501f\u91d1\u306e\u554f\u984c\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u9ad8\u91d1\u5229\u306b\u3088\u3063\u3066\u5dee\u3057\u8feb\u3063\u305f\u554f\u984c\u3068\u306a\u3063\u3066\u3044\u308b\u304c\u3001\u6295\u8cc7\u5bb6\u3082\u30a2\u30e1\u30ea\u30ab\u56fd\u6c11\u3082\u307e\u3060\u3055\u307b\u3069\u6c17\u306b\u3057\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u56fd\u50b5\u306e\u5229\u6255\u3044\u304c\u6025\u901f\u306b\u5897\u52a0\u3057\u3066\u3044\u308b\u3053\u3068\u306f\u305f\u3060\u306e\u4e8b\u5b9f\u3067\u3042\u308a\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u5371\u6a5f\u306f\u7740\u5b9f\u306b\u8fd1\u3065\u3044\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u3044\u3064\u3060\u308d\u3046\u304b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u4e88\u60f3\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>CBO\uff08\u8b70\u4f1a\u4e88\u7b97\u5c40\uff09\u306f2034\u5e74\u304c\u305d\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u3060\u3068\u8a00\u3063\u3066\u3044\u308b\u304c\u3001\u5f7c\u3089\u306e\u60f3\u5b9a\u306f4%\u306e\u8ca1\u653f\u8d64\u5b57\u30013%\u306e\u91d1\u5229\u3001\u305d\u3057\u3066\u666f\u6c17\u5f8c\u9000\u304c\u306a\u3044\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u91d1\u5229\u306f\u65e2\u306b\u305d\u308c\u3088\u308a\u5927\u5e45\u306b\u9ad8\u304f\u3001\u8ca1\u653f\u8d64\u5b57\u3082\u305d\u308c\u3088\u308a\u5927\u5e45\u306b\u9ad8\u304f\u30012032\u5e74\u307e\u3067\u306b\u666f\u6c17\u5f8c\u9000\u304c1\u5ea6\u3082\u306a\u3044\u53ef\u80fd\u6027\u306f\u3001\u63a7\u3048\u3081\u306b\u8a00\u3063\u3066\u3082\u5c0f\u3055\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u30892028\u5e74\u307e\u3067\u306b\u793e\u4f1a\u4fdd\u969c\u306f\u518d\u7de8\u304c\u306a\u3051\u308c\u3070\u8cc7\u91d1\u4e0d\u8db3\u306b\u9665\u308b\u3068\u3044\u3046\u306e\u304c\u308f\u305f\u3057\u306e\u4e88\u60f3\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3053\u308c\u307e\u3067\u306f\u8ca1\u653f\u8d64\u5b57\u3068\u3044\u3046\u3001\u4e00\u822c\u56fd\u6c11\u304b\u3089\u3059\u308c\u3070\u307b\u3068\u3093\u3069\u67b6\u7a7a\u306e\u3088\u3046\u306b\u898b\u3048\u308b\u6570\u5b57\u304c\u81a8\u3089\u3093\u3067\u3086\u304f\u3060\u3051\u3067\u3001\u653f\u5e9c\u306e\u501f\u91d1\u306f\u4f55\u306e\u554f\u984c\u3082\u306a\u3044\u3088\u3046\u306b\u898b\u3048\u305f\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u65e5\u672c\u3067\u3082\u5897\u7a0e\u304c\u5897\u3048\u3066\u3044\u308b\u3002\u4f55\u6545\u3053\u3046\u306a\u3063\u305f\u306e\u304b\u3002\u65e5\u672c\u306b\u306f\u56fd\u6c11\u306e\u8cc7\u7523\u304c\u3042\u308b\u304b\u3089\u653f\u5e9c\u306e\u501f\u91d1\u306f\u5927\u4e08\u592b\u3060\u3068\u3044\u3046\u4e3b\u5f35\u3092\u884c\u306a\u3063\u305f\u4eba\u306f\u3001\u305d\u308c\u306f\u653f\u5e9c\u306e\u501f\u91d1\u304c\u56fd\u6c11\u306e\u8cc7\u7523\u3067\u5e33\u6d88\u3057\u306b\u3055\u308c\u308b\u3068\u3044\u3046\u610f\u5473\u3060\u3068\u3044\u3046\u3053\u3068\u306b\u6c17\u4ed8\u3044\u3066\u3044\u306a\u304b\u3063\u305f\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u4e00\u756a\u6700\u521d\u306b\u6765\u308b\u554f\u984c\u306f\u793e\u4f1a\u4fdd\u969c\u3001\u3064\u307e\u308a\u5e74\u91d1\u3060\u3068\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u8a00\u3046\u3002\u5e74\u91d1\u304c\u5927\u5e45\u306b\u524a\u6e1b\u3055\u308c\u3001\u9ad8\u9f62\u8005\u306f\u652f\u51fa\u304c\u51fa\u6765\u306a\u304f\u306a\u3063\u3066\u6d88\u8cbb\u304c\u5f31\u307e\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u304c\u82e5\u3044\u4e16\u4ee3\u3078\u306e\u8ca0\u62c5\u306e\u79fb\u8ee2\u3060\u3068\u8a00\u3063\u3066\u3044\u305f\u554f\u984c\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u91d1\u5229\u9ad8\u9a30\u306b\u3088\u3063\u3066\u3080\u3057\u308d\u4eca\u306e\u9ad8\u9f62\u8005\u306b\u3068\u3063\u3066\u76f4\u63a5\u306e\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\/31231\" data-type=\"post\" data-id=\"31231\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u3001\u9ad8\u9f62\u8005\u304c\u82e5\u8005\u304b\u3089\u643e\u53d6\u3059\u308b\u7a0e\u5236\u3092\u75db\u70c8\u6279\u5224<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u91d1\u5229\u3092\u4e0a\u3052\u3089\u308c\u306a\u3044\u30a2\u30e1\u30ea\u30ab<\/strong><\/p>\n\n\n\n<p>\u66f4\u306b\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>Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u304c\u5229\u4e0b\u3052\u3092\u3059\u308b\u53e3\u5b9f\u3092\u63a2\u3057\u3066\u3044\u308b\u306e\u306f\u3053\u308c\u3092\u7406\u89e3\u3057\u3066\u3044\u308b\u304b\u3089\u3060\u308d\u3046\u3002\u3053\u306e\u307e\u307e\u306e\u91d1\u5229\u6c34\u6e96\u3067\u666f\u6c17\u5f8c\u9000\u5165\u308a\u306b\u306a\u308c\u3070\u3001\u652f\u6255\u3044\u306e\u7d04\u675f\u304c\u306a\u3055\u308c\u3066\u3044\u308b\u653f\u5e9c\u50b5\u52d9\u306e\u518d\u7de8\u3092\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308b\u3053\u3068\u3092\u5f7c\u3089\u306f\u7406\u89e3\u3057\u3066\u3044\u308b\u306f\u305a\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u6700\u8fd1\u3001Fed\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u7121\u8996\u3057\u305f\u3088\u3046\u306a\u8a00\u52d5\u3092\u7d9a\u3051\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/48314\" data-type=\"post\" data-id=\"48314\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u307e\u305f\u30a4\u30f3\u30d5\u30ec\u306f\u4e00\u6642\u7684\u3060\u3068\u8a00\u3063\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u305d\u308c\u306f\u3001\u91d1\u5229\u3092\u4e0a\u3052\u308b\u3068\u653f\u5e9c\u306e\u5229\u6255\u3044\u306e\u554f\u984c\u304c\u60aa\u5316\u3059\u308b\u3053\u3068\u3092\u30d1\u30a6\u30a8\u30eb\u6c0f\u304c\u77e5\u3063\u3066\u3044\u308b\u304b\u3089\u3067\u306f\u306a\u3044\u304b\u3068\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u7591\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u5143\u3005\u306e\u554f\u984c\u306f\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u3063\u3066\u3057\u307e\u3063\u305f\u3053\u3068\u306a\u306e\u3060\u304b\u3089\u3001\u5229\u4e0b\u3052\u3092\u3057\u3066\u30a4\u30f3\u30d5\u30ec\u304c\u518d\u52a0\u901f\u3059\u308c\u3070\u554f\u984c\u306f\u66f4\u306b\u5927\u304d\u304f\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u5229\u4e0a\u3052\u3092\u3057\u3066\u3082\u5730\u7344\u3001\u5229\u4e0b\u3052\u3092\u3057\u3066\u3082\u5730\u7344\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u3069\u3046\u306a\u308b\u3060\u308d\u3046\u304b\u3002\u697d\u3057\u307f\u306b\u7d50\u679c\u3092\u5f85\u3061\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/44974\" data-type=\"post\" data-id=\"44974\">\u30c1\u30e5\u30fc\u30c0\u30fc\u30fb\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f: \u7c73\u56fd\u306f\u682a\u4fa1\u66b4\u843d\u304b\u7269\u4fa1\u9ad8\u9a30\u306e\u3069\u3061\u3089\u304b\u3092\u9078\u3076\u3053\u3068\u306b\u306a\u308b<\/a><\/li>\n<\/ul>\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\u52d5\u753b\u306b\u304a\u3051\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\u308b\u3002 \u65e5\u672c\u3067\u3082\u5c06\u6765\u5927\u5e45\u306b\u6e1b\u984d\u3055\u308c\u308b\u3053\u3068\u304c\u907f\u3051\u3089\u308c\u306a\u3044\u5e74\u91d1\u306e\u554f\u984c\u306f\u8a71\u984c\u306b\u306a\u3063\u3066\u3044\u308b\u304c\u3001\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u91d1\u5229\u4e0a\u6607\u306b\u3088 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/49203\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u7c73\u56fd\u306e\u5e74\u91d1\u306f\u30a4\u30f3\u30d5\u30ec\u9ad8\u91d1\u5229\u3067\u3042\u30684\u5e74\u3067\u7834\u7dbb\u3059\u308b<\/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":[118,108],"tags":[131],"class_list":["post-49203","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\/49203","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=49203"}],"version-history":[{"count":40,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/49203\/revisions"}],"predecessor-version":[{"id":49245,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/49203\/revisions\/49245"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=49203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=49203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=49203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}