{"id":58799,"date":"2025-01-21T20:00:00","date_gmt":"2025-01-21T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=58799"},"modified":"2025-01-21T22:08:43","modified_gmt":"2025-01-21T13:08:43","slug":"%e3%83%89%e3%83%a9%e3%83%83%e3%82%b1%e3%83%b3%e3%83%9f%e3%83%a9%e3%83%bc%e6%b0%8f%e3%80%81%e7%b1%b3%e5%9b%bd%e6%a0%aa%e3%81%ae%e7%a9%ba%e5%a3%b2%e3%82%8a%e6%88%90%e5%8a%9f%e3%80%81%e3%82%a2%e3%83%a1","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/58799","title":{"rendered":"\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u3001\u7c73\u56fd\u50b5\u306e\u7a7a\u58f2\u308a\u6210\u529f\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u5371\u6a5f\u3092\u8b66\u544a"},"content":{"rendered":"\n<p>\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306e\u30af\u30a9\u30f3\u30bf\u30e0\u30fb\u30d5\u30a1\u30f3\u30c9\u3092\u9577\u5e74\u904b\u7528\u3057\u3066\u3044\u305f\u3053\u3068\u3067\u6709\u540d\u306a\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306e\u4eca\u5e74\u521d\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u5229\u52d5\u5411<\/strong><\/p>\n\n\n\n<p>\u91d1\u5229\u306f\u682a\u4fa1\u306b\u5f71\u97ff\u3092\u53ca\u307c\u3059\u5927\u304d\u306a\u8981\u7d20\u3060\u304c\u3001\u4eca\u5e74\u306f\u7279\u306b\u91d1\u5229\u306b\u6ce8\u76ee\u3059\u3079\u304d\u5e74\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u50b5\u5238\u6295\u8cc7\u5bb6\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u5229\u4e0b\u3052\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u91d1\u5229\u304c\u4e0a\u304c\u3063\u3066\u3044\u308b\u306e\u306f\u7570\u5e38\u3060\u3068\u3057\u3066\u3001\u7c73\u56fd\u50b5\u306b\u5371\u6a5f\u304c\u8feb\u3063\u3066\u3044\u308b\u3068\u8b66\u544a\u3057\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/58610\" data-type=\"post\" data-id=\"58610\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u5229\u4e0b\u3052\u3067\u9577\u671f\u91d1\u5229\u304c\u4e0a\u304c\u3063\u3066\u3044\u308b\u306e\u306f\u7c73\u56fd\u50b5\u66b4\u843d\u306e\u4e88\u5146<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u9577\u671f\u91d1\u5229\u306f\u307e\u3055\u306b9\u6708\u306e\u5229\u4e0b\u3052\u958b\u59cb\u3092\u57fa\u70b9\u306b\u4e0a\u6607\u3057\u3066\u3044\u308b\u3002\u5229\u4e0a\u3052\u3067\u306f\u306a\u3044\u3002\u5229\u4e0b\u3052\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\/2025\/01\/2025-1-21-us-10-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"669\" height=\"518\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/01\/2025-1-21-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-58804\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/01\/2025-1-21-us-10-year-treasury-bond-yield-chart.png 669w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/01\/2025-1-21-us-10-year-treasury-bond-yield-chart-300x232.png 300w\" sizes=\"auto, (max-width: 669px) 100vw, 669px\" \/><\/a><\/figure>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3053\u306e\u52d5\u304d\u3092\u3001\u7c73\u56fd\u50b5\u304b\u3089\u8cc7\u91d1\u304c\u9003\u907f\u3057\u3066\u3044\u308b\u8a3c\u62e0\u3060\u3068\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u91d1\u5229\u4e0a\u6607\u3092\u4e88\u60f3\u3057\u305f\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u3053\u306e\u7570\u5e38\u4e8b\u614b\u3092\u7684\u78ba\u306b\u4e88\u60f3\u3057\u3066\u3044\u305f\u4eba\u7269\u304c\u3044\u308b\u3002\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/54540\" data-type=\"post\" data-id=\"54540\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u304c\u7c73\u56fd\u50b5\u7a7a\u58f2\u308a\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u306f10%\u3092\u8d85\u3048\u3066\u518d\u71c3\u3059\u308b\u53ef\u80fd\u6027 (2024\/10\/4)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/55613\" data-type=\"post\" data-id=\"55613\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u7c73\u56fd\u304c0.5%\u5229\u4e0b\u3052\u3092\u3057\u305f\u65e5\u306b\u7c73\u56fd\u50b5\u3092\u7a7a\u58f2\u308a\u3057\u305f (2024\/10\/26)<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u53bb\u5e74\u306e\u5229\u4e0b\u3052\u958b\u59cb\u306e\u76f4\u5f8c\u306b\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u91d1\u5229\u304c\u77ed\u671f\u7684\u306b\u3069\u3046\u306a\u308b\u304b\u306e\u4e88\u60f3\u306f\u3053\u3046\u3060\u3002\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u9593\u9055\u3063\u3066\u304a\u308a\u3001\u6765\u5e74\u30a4\u30f3\u30d5\u30ec\u306f\u52a0\u901f\u3059\u308b\u3002\u56fd\u50b5\u306e\u91d1\u5229\u306f\u4f55\u30d1\u30fc\u30bb\u30f3\u30c8\u3082\u4e0a\u304c\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u7570\u5e38\u3068\u547c\u3093\u3060\u4e8b\u614b\u3092\u3001\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u5b8c\u5168\u306a\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u8aad\u3093\u3067\u3044\u305f\u308f\u3051\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u4eca\u3001\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>\u7c73\u56fd\u50b5\u306e\u7a7a\u58f2\u308a\u30dd\u30b8\u30b7\u30e7\u30f3\u306f\u307e\u3060\u6301\u3063\u3066\u3044\u308b\u3002\u5229\u4e0b\u3052\u306e\u5f8c\u306b\u91d1\u5229\u304c\u4e0a\u6607\u3057\u305f\u3053\u3068\u306b\u591a\u304f\u306e\u4eba\u306f\u9a5a\u3044\u305f\u304c\u3001\u308f\u305f\u3057\u306f\u9a5a\u304b\u306a\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>Fed\u304c\u904e\u3061\u3092\u72af\u3057\u305f\u3068\u8003\u3048\u3066\u3044\u305f\u304b\u3089\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306fFed\u306e\u5229\u4e0b\u3052\u306f\u6027\u6025\u3060\u3068\u8003\u3048\u3001\u5229\u4e0b\u3052\u304c\u30a4\u30f3\u30d5\u30ec\u518d\u52a0\u901f\u306e\u61f8\u5ff5\u3092\u547c\u3073\u3001\u9577\u671f\u91d1\u5229\u306f\u3080\u3057\u308d\u4e0a\u304c\u308b\u3068\u8003\u3048\u305f\u3002\u305d\u3057\u3066\u305d\u308c\u304c\u7684\u4e2d\u3057\u305f\u3002<\/p>\n\n\n\n<p><strong>\u7c73\u56fd\u50b5\u306e\u4e0b\u843d<\/strong><\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u554f\u984c\u306f\u5229\u4e0b\u3052\u3060\u3051\u3067\u306f\u306a\u3044\u3002\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u306b\u3064\u3044\u3066\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>\u30a2\u30e1\u30ea\u30ab\u306f\u5927\u304d\u306a\u8ca1\u653f\u554f\u984c\u3092\u62b1\u3048\u3066\u3044\u308b\u3002\u5e74\u91d1\u306a\u3069\u306e\u907f\u3051\u3089\u308c\u306a\u3044\u652f\u51fa\u3068\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u3060\u3051\u3067\u6b73\u5165\u306e\u3059\u3079\u3066\u304c\u6d88\u3048\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u56fd\u50b5\u306e\u5229\u6255\u3044\u306f\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u8ab0\u3082\u304c\u6c17\u306b\u3057\u3066\u3044\u308b\u554f\u984c\u3060\u3002\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u3068\u653f\u5e9c\u50b5\u52d9\u306e\u5897\u52a0\u306b\u3088\u3063\u3066\u3001\u30a2\u30e1\u30ea\u30ab\u306eGDP\u306e4%\u8fd1\u304f\u304c\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u3060\u3051\u3067\u6d88\u3048\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\/07\/2024-2q-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\/07\/2024-2q-us-federal-government-interest-payment-to-gdp-chart.png\" alt=\"\" class=\"wp-image-51669\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2024\/07\/2024-2q-us-federal-government-interest-payment-to-gdp-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2024\/07\/2024-2q-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>\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u7d50\u8ad6\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>\u72b6\u6cc1\u306f\u304b\u306a\u308a\u9032\u884c\u3057\u3066\u304a\u308a\u3001\u91ce\u7403\u3067\u8a00\u3048\u30707\u56de\u307e\u3067\u6765\u3066\u3044\u308b\u3002\u3060\u304c\u76f8\u5834\u3067\u306f7\u56de\u304b\u30899\u56de\u307e\u3067\u3067\u5927\u304d\u304f\u5132\u3051\u3089\u308c\u308b\u3053\u3068\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p>Fed\u306e\u7de9\u548c\u304c\u9032\u307f\u3001\u30d0\u30d6\u30eb\u306b\u306a\u3063\u305f\u8cc7\u7523\u4fa1\u683c\u3068\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u3082\u305f\u3089\u3059\u30a2\u30cb\u30de\u30eb\u30b9\u30d4\u30ea\u30c3\u30c8\u304c\u7d44\u307f\u5408\u308f\u3055\u308c\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u4e0a\u5411\u304b\u305b\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u304c\u50b5\u5238\u5e02\u5834\u306b\u554f\u984c\u3092\u5f15\u304d\u8d77\u3053\u3059\u3002\u3060\u304b\u3089\u7c73\u56fd\u50b5\u306e\u7a7a\u58f2\u308a\u3092\u7d9a\u3051\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u300e<a href=\"https:\/\/amzn.to\/3IWcV1T\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a>\u300f\u306b\u304a\u3044\u3066\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u5229\u4e0a\u6607\u3092\u4e88\u60f3\u3057\u305fBridgewater\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306a\u3069\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u7834\u7dbb\u306b\u5099\u3048\u3066\u65b0\u8457\u307e\u3067\u767a\u8868\u3057\u3066\u3044\u308b\u3002\u3044\u3088\u3044\u3088\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u304c\u307e\u305a\u304f\u306a\u3063\u3066\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\/58483\" data-type=\"post\" data-id=\"58483\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306e\u65b0\u8457: \u57fa\u8ef8\u901a\u8ca8\u3092\u6301\u3064\u4e16\u754c\u4e00\u306e\u5927\u56fd\u3067\u3082\u653f\u5e9c\u50b5\u52d9\u5897\u52a0\u3067\u7834\u7dbb\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<a href=\"https:\/\/amzn.to\/3xlpTUc\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/m.media-amazon.com\/images\/I\/81CZHKszf9L._SL160_.jpg\"><\/a><br><a href=\"https:\/\/amzn.to\/3xlpTUc\" target=\"_blank\" rel=\"noreferrer 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