{"id":59903,"date":"2025-02-15T20:37:25","date_gmt":"2025-02-15T11:37:25","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=59903"},"modified":"2025-02-15T20:37:25","modified_gmt":"2025-02-15T11:37:25","slug":"%e3%83%ac%e3%82%a4%e3%83%bb%e3%83%80%e3%83%aa%e3%82%aa%e6%b0%8f-%e9%87%91%e5%88%a9%e4%b8%8a%e6%98%87%e3%81%ae%e6%99%82%e4%bb%a3%e3%81%ab%e3%81%af%e6%a0%aa%e4%be%a1%e3%81%af%e9%95%b7%e6%9c%9f%e7%9a%84","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/59903","title":{"rendered":"\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: 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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\u3067\u306f\u4e3b\u306b\u3001\u56fd\u5bb6\u304c\u5f90\u3005\u306b\u7e41\u6804\u3057\u3066\u304b\u3089\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u50b5\u52d9\u5897\u52a0\u3067\u8870\u9000\u3057\u3066\u3086\u304f\u307e\u3067\u306e\u9577\u671f\u30b5\u30a4\u30af\u30eb\u3092\u89e3\u8aac\u3057\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<p>\u56fd\u5bb6\u306f\u5c11\u306a\u3044\u50b5\u52d9\u3068\u4f4e\u30a4\u30f3\u30d5\u30ec\u6642\u4ee3\u304b\u3089\u3001\u5f90\u3005\u306b\u904e\u5927\u306a\u50b5\u52d9\u3068\u9ad8\u30a4\u30f3\u30d5\u30ec\u306e\u6642\u4ee3\u306b\u79fb\u884c\u3057\u3066\u3086\u304f\u3002\u305d\u308c\u304c\u56fd\u5bb6\u306e\u8001\u5316\u3067\u3042\u308b\u3002\u30c0\u30ea\u30aa\u6c0f\u306e\u524d\u8457\u306b\u3088\u308c\u3070\u3001\u5927\u82f1\u5e1d\u56fd\u3082\u305d\u306e\u524d\u306e\u30aa\u30e9\u30f3\u30c0\u6d77\u4e0a\u5e1d\u56fd\u3082\u305d\u306e\u904e\u7a0b\u3092\u8fbf\u3063\u305f\u3002\u6b21\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u756a\u3060\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\/58199\" data-type=\"post\" data-id=\"58199\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u30c9\u30eb\u306f\u5927\u82f1\u5e1d\u56fd\u306e\u30dd\u30f3\u30c9\u3068\u540c\u3058\u3088\u3046\u306b\u9577\u671f\u7684\u306b\u4e0b\u843d\u3057\u3066\u3086\u304f<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u91d1\u5229\u306e\u30b5\u30a4\u30af\u30eb<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u56fd\u5bb6\u306e\u30b5\u30a4\u30af\u30eb\u306e\u4ed6\u306b\u3082\u30b5\u30a4\u30af\u30eb\u306f\u3042\u308b\u3002\u4f8b\u3048\u3070\u91d1\u5229\u306e\u30b5\u30a4\u30af\u30eb\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u4e0a\u8a18\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u30b5\u30a4\u30af\u30eb\u3068\u3082\u95a2\u9023\u3057\u3066\u3044\u308b\u306e\u3060\u304c\u3001\u30b3\u30ed\u30ca\u524d\u307e\u3067\u306f\u4f4e\u91d1\u5229\u306e\u6642\u4ee3\u3001\u305d\u306e\u5f8c\u306f\u5229\u4e0a\u3052\u306b\u3088\u308a\u9ad8\u91d1\u5229\u306e\u6642\u4ee3\u306b\u306a\u3063\u3066\u3044\u308b\u306e\u306f\u3001\u8aad\u8005\u306b\u3082\u5206\u304b\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u9577\u671f\u91d1\u5229\u3092\u8d85\u9577\u671f\u3067\u898b\u308b\u3068\u3001\u6b21\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\/2025\/02\/2025-2-15-us-10-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"608\" height=\"549\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/02\/2025-2-15-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-59915\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/02\/2025-2-15-us-10-year-treasury-bond-yield-chart.png 608w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/02\/2025-2-15-us-10-year-treasury-bond-yield-chart-300x271.png 300w\" sizes=\"auto, (max-width: 608px) 100vw, 608px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u91d1\u5229\u3068\u8cc7\u7523\u4fa1\u683c<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u91d1\u5229\u306f\u305f\u3060\u63a8\u79fb\u3059\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u30c0\u30ea\u30aa\u6c0f\u306b\u3088\u308c\u3070\u3001\u91d1\u5229\u306f\u69d8\u3005\u306a\u3082\u306e\u306b\u5f71\u97ff\u3092\u53ca\u307c\u3059\u3002<\/p>\n\n\n\n<p>\u30c0\u30ea\u30aa\u6c0f\u306f\u307e\u305a\u4f4e\u30a4\u30f3\u30d5\u30ec\u306e\u6642\u4ee3\u306b\u3064\u3044\u3066\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>\u50b5\u52d9\u306e\u5897\u52a0\u304c\u7de9\u3084\u304b\u3067\u3001\u7d4c\u6e08\u304c\u5f31\u304f\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4f4e\u3044\u6642\u3001\u4e2d\u592e\u9280\u884c\u306f\u91d1\u5229\u3092\u4e0b\u3052\u3066\u5e02\u5834\u306b\u8cc7\u91d1\u3068\u4fe1\u7528\u3092\u4f9b\u7d66\u3057\u3001\u501f\u308a\u5165\u308c\u3092\u5897\u3084\u3057\u3066\u5546\u54c1\u3084\u30b5\u30fc\u30d3\u30b9\u3001\u91d1\u878d\u8cc7\u7523\u306a\u3069\u3078\u306e\u652f\u51fa\u304c\u5897\u3048\u308b\u3088\u3046\u306b\u3059\u308b\u3002\u305d\u308c\u3067\u5e02\u5834\u4fa1\u683c\u3084\u7d4c\u6e08\u304c\u6d3b\u6027\u5316\u3059\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3046\u3044\u3046\u72b6\u6cc1\u4e0b\u3067\u306f\u501f\u91d1\u3092\u3059\u308b\u5074\u3001\u3064\u307e\u308a\u50b5\u52d9\u8005\u306b\u3068\u3063\u3066\u6709\u5229\u3067\u3001\u8cb8\u3059\u5074\u3001\u3064\u307e\u308a\u50b5\u6a29\u8005\u306b\u3068\u3063\u3066\u306f\u4e0d\u5229\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u307e\u305a\u4e2d\u592e\u9280\u884c\u306f\u7d4c\u6e08\u3092\u6301\u3061\u4e0a\u3052\u308b\u305f\u3081\u306b\u4f4e\u91d1\u5229\u653f\u7b56\u3092\u53d6\u308a\u304c\u3061\u3067\u3042\u308b\u3002\u4e00\u65b9\u3067\u4f4e\u91d1\u5229\u306f\u30c0\u30ea\u30aa\u6c0f\u306e\u8a00\u3046\u3088\u3046\u306b\u50b5\u6a29\u8005\u3088\u308a\u50b5\u52d9\u8005\u306b\u6709\u5229\u306a\u306e\u3067\u3001\u88cf\u306e\u610f\u56f3\u3068\u3057\u3066\u306f\u3069\u3093\u3069\u3093\u50b5\u52d9\u304c\u81a8\u3089\u3093\u3067\u3086\u304f\u653f\u5e9c\u306e\u50b5\u52d9\u8ca0\u62c5\u3092\u8efd\u6e1b\u3059\u308b\u3068\u3044\u3046\u76ee\u7684\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3046\u3059\u308b\u3053\u3068\u3067\u653f\u6cbb\u5bb6\u306f\u501f\u91d1\u3092\u6c17\u306b\u305b\u305a\u306b\u4eba\u306e\u91d1\u3067\u652f\u51fa\u3092\u7d9a\u3051\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3002\u305d\u308c\u304c\u653f\u6cbb\u5bb6\u304c\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u3092\u597d\u3080\u7406\u7531\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u591a\u984d\u306e\u501f\u91d1\u3092\u62b1\u3048\u305f\u653f\u5e9c\u304c\u4f4e\u91d1\u5229\u3067\u52a9\u304b\u308b\u306e\u306f\u660e\u767d\u3060\u304c\u3001\u8ab0\u304b\u304c\u52a9\u304b\u308b\u305f\u3081\u306b\u306f\u8ab0\u304b\u304c\u640d\u3092\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u4f4e\u91d1\u5229\u3067\u501f\u308a\u624b\u3067\u3042\u308b\u653f\u5e9c\u304c\u52a9\u304b\u308b\u306a\u3089\u3070\u3001\u8cb8\u3057\u3066\u3044\u308b\u5074\u3001\u3064\u307e\u308a\u56fd\u50b5\u3092\u4fdd\u6709\u3057\u3066\u3044\u308b\u5074\u306f\u3001\u4e2d\u592e\u9280\u884c\u306b\u3088\u3063\u3066\u4eba\u70ba\u7684\u306b\u4f4e\u304f\u3055\u308c\u305f\u91d1\u5229\u3057\u304b\u53d7\u3051\u53d6\u308c\u306a\u3044\u306e\u3060\u304b\u3089\u3001\u305d\u306e\u5206\u640d\u3092\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u56fd\u50b5\u306e\u4fdd\u6709\u8005\u3068\u306f\u9280\u884c\u3067\u3042\u308a\u3001\u9280\u884c\u306f\u9810\u91d1\u8005\u306e\u9810\u91d1\u3067\u56fd\u50b5\u3092\u8cb7\u3044\u3001\u9810\u91d1\u8005\u306b\u91d1\u5229\u3092\u652f\u6255\u3063\u3066\u3044\u308b\u306e\u3067\u3001\u65e5\u672c\u3067\u9810\u91d1\u8005\u304c\u91d1\u5229\u3092\u4f55\u5341\u5e74\u3082\u53d7\u3051\u53d6\u308c\u306a\u304b\u3063\u305f\u306e\u306f\u4e2d\u592e\u9280\u884c\u306e\u305b\u3044\u3060\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u30c0\u30ea\u30aa\u6c0f\u306f\u65e5\u672c\u4eba\u304c\u4f4e\u91d1\u5229\u653f\u7b56\u3068\u5186\u5b89\u306b\u3088\u3063\u3066\u3069\u308c\u3060\u3051\u306e\u3082\u306e\u3092\u77e5\u3089\u305a\u306e\u3046\u3061\u306b\u5931\u3063\u3066\u304d\u305f\u304b\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/57066\" data-type=\"post\" data-id=\"57066\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u65e5\u672c\u4eba\u306f\u65e5\u672c\u653f\u5e9c\u306e\u4f4e\u91d1\u5229\u653f\u7b56\u306e\u305b\u3044\u3067\u5e74\u95937%\u306e\u8cc7\u7523\u3092\u5931\u3063\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3053\u306e\u4f4e\u91d1\u5229\u306e\u6642\u4ee3\u306b\u306f\u9810\u91d1\u8005\u306f\u643e\u53d6\u3055\u308c\u308b\u3002\u3060\u304b\u3089\u682a\u5f0f\u306b\u8cc7\u91d1\u304c\u6d41\u308c\u3001\u4f4e\u91d1\u5229\u306e\u6642\u4ee3\u306b\u306f\u9577\u671f\u7684\u306a\u682a\u9ad8\u304c\u5b9f\u73fe\u3057\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u3053\u305d\u304c\u904e\u53bb40\u5e74\u3001\u7c73\u56fd\u682a\u304c\u4e0a\u304c\u308a\u7d9a\u3051\u305f\u7406\u7531\u3067\u3042\u308b\u3002\u305d\u308c\u306f40\u5e74\u91d1\u5229\u304c\u4e0b\u304c\u308a\u7d9a\u3051\u305f\u304b\u3089\u3067\u3042\u308b\u3002\u65e5\u672c\u3067\u306f\u65e9\u3005\u3068\u30bc\u30ed\u91d1\u5229\u3068\u306a\u308a\u3001\u305d\u308c\u4ee5\u4e0a\u5229\u4e0b\u3052\u3067\u304d\u306a\u304f\u306a\u3063\u305f\u305f\u3081\u306b\u682a\u4fa1\u3082\u305d\u308c\u4ee5\u4e0a\u4e0a\u304c\u3089\u306a\u304b\u3063\u305f\u304c\u3001\u30a2\u30d9\u30ce\u30df\u30af\u30b9\u4ee5\u5f8c\u306e\u91cf\u7684\u7de9\u548c\u3067\u91d1\u5229\u304c\u66f4\u306b\u4e0b\u304c\u3063\u305f\u305f\u3081\u3001\u682a\u9ad8\u304c\u518d\u958b\u3057\u305f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/02\/2025-2-15-nikkei-225-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"608\" height=\"549\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/02\/2025-2-15-nikkei-225-chart.png\" alt=\"\" class=\"wp-image-59944\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/02\/2025-2-15-nikkei-225-chart.png 608w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/02\/2025-2-15-nikkei-225-chart-300x271.png 300w\" sizes=\"auto, (max-width: 608px) 100vw, 608px\" \/><\/a><\/figure>\n\n\n\n<p>\u3060\u304b\u3089\u91d1\u5229\u3068\u682a\u4fa1\u306e\u9577\u671f\u898b\u901a\u3057\u306e\u95a2\u4fc2\u306f\u660e\u5feb\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u6295\u8cc7\u5bb6\u306f\u3001\u904e\u53bb\u306e\u682a\u9ad8\u306f\u91d1\u5229\u304c\u4e0b\u304c\u3063\u305f\u304a\u9670\u3060\u3068\u3044\u3046\u3053\u3068\u3092\u8a8d\u8b58\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u4eca\u3084\u91d1\u5229\u306f\u4e0a\u304c\u3063\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u5229\u3068\u682a\u4fa1<\/strong><\/p>\n\n\n\n<p>\u3067\u306f\u30a4\u30f3\u30d5\u30ec\u306e\u6642\u4ee3\u306b\u306f\u682a\u4fa1\u306f\u3069\u3046\u306a\u308b\u306e\u304b\uff1f\u3000\u30c0\u30ea\u30aa\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>\u50b5\u52d9\u306e\u5897\u52a0\u3068\u7d4c\u6e08\u6210\u9577\u304c\u6301\u7d9a\u4e0d\u53ef\u80fd\u306a\u30ec\u30d9\u30eb\u3067\u904e\u71b1\u3057\u3066\u304a\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u53d7\u3051\u5165\u308c\u304c\u305f\u3044\u307b\u3069\u9ad8\u3044\u6642\u3001\u4e2d\u592e\u9280\u884c\u306f\u91d1\u5229\u3092\u4e0a\u3052\u3066\u8cc7\u91d1\u3068\u4fe1\u7528\u3092\u5236\u9650\u3057\u3001\u4eba\u3005\u304c\u8caf\u84c4\u3092\u5897\u3084\u3057\u3066\u5546\u54c1\u3084\u30b5\u30fc\u30d3\u30b9\u3001\u91d1\u878d\u8cc7\u7523\u3078\u306e\u652f\u51fa\u3092\u6e1b\u3089\u3059\u3088\u3046\u306b\u3059\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3046\u306a\u308c\u3070\u3001\u91d1\u878d\u5e02\u5834\u3068\u5b9f\u4f53\u7d4c\u6e08\u306f\u843d\u3061\u8fbc\u3080\u3002\u3053\u3046\u3044\u3046\u72b6\u6cc1\u4e0b\u3067\u306f\u501f\u308a\u624b\u306b\u306a\u3063\u3066\u652f\u51fa\u3059\u308b\u3088\u308a\u3082\u3001\u9810\u91d1\u8005\u306b\u306a\u308b\u65b9\u304c\u5f97\u3060\u304b\u3089\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u5f53\u7136\u3067\u3042\u308b\u3002\u91d1\u5229\u304c\u4e0b\u304c\u308c\u3070\u305d\u306e\u5206\u682a\u4fa1\u304c\u4e0a\u304c\u308a\u3001\u7d4c\u6e08\u3082\u4e0a\u5411\u304f\u306e\u3067\u3042\u308c\u3070\u3001\u9006\u306b\u91d1\u5229\u304c\u4e0a\u304c\u308c\u3070\u305d\u306e\u5206\u682a\u4fa1\u3082\u4e0b\u65b9\u5727\u529b\u3092\u53d7\u3051\u3001\u7d4c\u6e08\u3082\u50be\u304f\u3057\u304b\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306b\u306f\u5b9f\u4f8b\u304c\u3042\u308b\u3002\u7c73\u56fd\u682a\u306f\u30c7\u30d5\u30ec\u306e\u6642\u4ee3\u3001\u91d1\u5229\u4f4e\u4e0b\u306e\u904e\u53bb40\u5e74\u4e0a\u304c\u308a\u7d9a\u3051\u305f\u304c\u3001\u305d\u306e\u524d\u306b\u306f\u30a4\u30f3\u30d5\u30ec\u306e\u6642\u4ee3\u304c\u3042\u3063\u305f\u3002<\/p>\n\n\n\n<p>1960\u5e74\u4ee3\u5f8c\u534a\u304b\u30891980\u5e74\u307e\u3067\u306e\u7269\u4fa1\u9ad8\u9a30\u306e\u6642\u4ee3\u306b\u7c73\u56fd\u682a\u304c\u3069\u3046\u3060\u3063\u305f\u306e\u304b\u3068\u8a00\u3048\u3070\u3001\u30c1\u30e3\u30fc\u30c8\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\/2022\/06\/1966-1982-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"675\" height=\"543\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/1966-1982-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-25849\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/1966-1982-s-and-p-500-chart.png 675w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/1966-1982-s-and-p-500-chart-300x241.png 300w\" sizes=\"auto, (max-width: 675px) 100vw, 675px\" \/><\/a><\/figure>\n\n\n\n<p>1960\u5e74\u4ee3\u534a\u3070\u304b\u30891980\u5e74\u307e\u3067\u3001S&amp;P 500\u306f90\u30c9\u30eb\u53f0\u3092\u4e2d\u5fc3\u306b\u63a8\u79fb\u3057\u3066\u3044\u308b\u3002\u3064\u307e\u308a15\u5e74\u9593\u6a2a\u3070\u3044\u304b\u3001\u3084\u3084\u4e0a\u6607\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3053\u306e\u6a2a\u3070\u3044\u306f\u305d\u306e\u610f\u5473\u3092\u3088\u304f\u8003\u3048\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002\u4f55\u6545\u306a\u3089\u3070\u3053\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u671f\u9593\u3001\u7269\u4fa1\u306f\u6700\u7d42\u7684\u306b3\u500d\u306b\u306a\u3063\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u671f\u9593\u7c73\u56fd\u682a\u304c\u6a2a\u3070\u3044\u3060\u3063\u305f\u3068\u3059\u308c\u3070\u3001\u7c73\u56fd\u682a\u309215\u5e74\u6301\u3061\u7d9a\u3051\u305f\u4eba\u306f\u8cc7\u7523\u304c\u5b9f\u8cea\u7684\u306b3\u5206\u306e1\u306b\u306a\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u8caf\u91d1\u3092\u3057\u3066\u3044\u305f\u4eba\u306f\u3001\u3053\u306e\u30a4\u30f3\u30d5\u30ec\u3068\u9ad8\u91d1\u5229\u306e\u6642\u4ee3\u3067\u9ad8\u3044\u91d1\u5229\u3092\u53d7\u3051\u53d6\u308a\u3001\u8cc7\u7523\u306f3\u500d\u306b\u306a\u3063\u305f\u3002\u305d\u308c\u3067\u3088\u3046\u3084\u304f\u7269\u4fa1\u306b\u8ffd\u3044\u3064\u3044\u305f\u7a0b\u5ea6\u3060\u304c\u3001\u5c11\u306a\u304f\u3068\u3082\u8cc7\u7523\u4fa1\u5024\u304c\u5b9f\u8cea\u7684\u306b\u6fc0\u6e1b\u3057\u305f\u682a\u5f0f\u3088\u308a\u3082\u3088\u307b\u3069\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u304c\u826f\u304b\u3063\u305f\u3053\u3068\u304c\u5206\u304b\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\/28935\" data-type=\"post\" data-id=\"28935\">\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u3067\u306e\u6700\u826f\u306e\u6295\u8cc7\u65b9\u6cd5\u306f\u682a\u306e\u7a7a\u58f2\u308a\u3092\u9664\u3051\u3070\u682a\u5f0f\u6295\u8cc7\u3067\u306f\u306a\u304f\u9810\u91d1<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304b\u3089\u30c0\u30ea\u30aa\u6c0f\u306e\u8a00\u3046\u3088\u3046\u306b\u3001\u30b3\u30ed\u30ca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u6642\u4ee3\u306e\u8cc7\u7523\u4fa1\u683c\u306e\u63a8\u79fb\u3092\u3001\u30b3\u30ed\u30ca\u524d\u306e\u30c7\u30d5\u30ec\u306e\u6642\u4ee3\u306e\u682a\u9ad8\u3092\u7406\u7531\u306b\u8003\u3048\u3066\u306f\u306a\u3089\u306a\u3044\u3002\u300c\u7c73\u56fd\u682a\u306f\u904e\u53bb\u4f55\u5341\u5e74\u3082\u4e0a\u6607\u3057\u305f\u304b\u3089\u3053\u308c\u304b\u3089\u3082\u4e0a\u6607\u3057\u7d9a\u3051\u308b\u300d\u306a\u3069\u3068\u8a00\u3046\u306e\u306f\u3001\u300c\u96a3\u306e\u5c71\u7530\u3055\u3093\u306f80\u5e74\u751f\u304d\u305f\u304b\u3089\u3082\u304680\u5e74\u751f\u304d\u308b\u300d\u3068\u3044\u3046\u7406\u5c48\u3068\u540c\u7a0b\u5ea6\u306e\u5984\u8a00\u306b\u904e\u304e\u306a\u3044\u3002\u30b5\u30a4\u30af\u30eb\u306b\u306f\u7d42\u308f\u308a\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3082\u30c0\u30ea\u30aa\u6c0f\u306f\u3053\u306e\u8cc7\u7523\u4fa1\u683c\u306e\u65b9\u5411\u8ee2\u63db\u304c\u4eca\u5e74\u8d77\u3053\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3068\u4e88\u60f3\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\/59714\" data-type=\"post\" data-id=\"59714\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u30012025\u5e74\u306e\u682a\u4fa1\u5927\u66b4\u843d\u3092\u4e88\u60f3\u304b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3082\u3057\u305d\u3046\u306a\u308c\u3070\u3001\u30c0\u30ea\u30aa\u6c0f\u304c\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\u3067\u8aac\u660e\u3057\u3066\u3044\u305f\u3001\u8987\u6a29\u56fd\u5bb6\u30a2\u30e1\u30ea\u30ab\u306e\u7d42\u308f\u308a\u306e\u59cb\u307e\u308a\u3068\u306a\u308b\u3002<\/p>\n\n\n\n<p>2025\u5e74\u306f\u91d1\u5229\u306b\u6ce8\u76ee\u3067\u3042\u308b\u3002<\/p>\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 noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9Bridgewater\u5275\u696d\u8005\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304c\u81ea\u8eab\u306e\u30d6\u30ed\u30b0\u3067\u65b0\u8457\u300e\u56fd\u5bb6\u306f\u3069\u306e\u3088\u3046\u306b\u3057\u3066\u4e00\u6587\u7121\u3057\u306b\u306a\u308b\u306e\u304b\uff1f\u300f\uff08\u4eee\u8a33\uff09\u306e\u5185\u5bb9\u3092\u7d39\u4ecb\u3057\u3066\u3044\u308b\u3002 \u4eca\u56de\u306f\u3001\u91d1\u5229\u3068\u8cc7\u7523\u4fa1\u683c\u306e\u95a2\u4fc2\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u90e8\u5206\u3092\u7d39\u4ecb &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/59903\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u91d1\u5229\u4e0a\u6607\u306e\u6642\u4ee3\u306b\u306f\u682a\u4fa1\u306f\u9577\u671f\u7684\u306b\u4e0b\u843d\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":[59,118,111,108],"tags":[102],"class_list":["post-59903","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-us-bond-market","category-stock-markets","category-bond-markets","tag-ray-dalio"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/59903","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=59903"}],"version-history":[{"count":47,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/59903\/revisions"}],"predecessor-version":[{"id":59953,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/59903\/revisions\/59953"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=59903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=59903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=59903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}