{"id":60261,"date":"2025-02-23T20:15:11","date_gmt":"2025-02-23T11:15:11","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=60261"},"modified":"2025-02-23T20:15:12","modified_gmt":"2025-02-23T11:15:12","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e3%82%a2%e3%83%a1%e3%83%aa%e3%82%ab%e3%81%ae%e5%82%b5%e5%8b%99%e5%8d%b1%e6%a9%9f%e3%80%81%e3%83%99%e3%83%83%e3%82%bb%e3%83%b3%e3%83%88","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/60261","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u52d9\u5371\u6a5f\u3001\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306e\u8ca1\u653f\u8d64\u5b57\u524a\u6e1b\u6848\u306f\u5b9f\u73fe\u4e0d\u53ef\u80fd"},"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\u30c8\u30cb\u30fc\u30fb\u30ed\u30d3\u30f3\u30ba\u6c0f\u306b\u3088\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4eca\u56de\u306f\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u3067\u8ca1\u52d9\u9577\u5b98\u306b\u4efb\u547d\u3055\u308c\u305f\u30b9\u30b3\u30c3\u30c8\u30fb\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306b\u3064\u3044\u3066\u306e\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u30b3\u30e1\u30f3\u30c8\u3092\u7d39\u4ecb\u3059\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u52d9\u554f\u984c<\/strong><\/p>\n\n\n\n<p>\u524d\u56de\u306e\u8a18\u4e8b\u3067\u306f\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u306e\u554f\u984c\u304c\u5dee\u3057\u8feb\u3063\u3066\u3044\u308b\u3053\u3068\u3092\u6307\u6458\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\/60246\" data-type=\"post\" data-id=\"60246\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u7c73\u56fd\u306f5\u5e74\u4ee5\u5185\u306b\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u5371\u6a5f\u306b\u9665\u308a\u3001\u5e74\u91d1\u306f\u524a\u6e1b\u3055\u308c\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30b3\u30ed\u30ca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u306b\u3088\u308b\u91d1\u5229\u4e0a\u6607\u3067\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u5927\u91cf\u306e\u653f\u5e9c\u50b5\u52d9\u306b\u306f\u591a\u984d\u306e\u5229\u6255\u3044\u304c\u751f\u3058\u3066\u3044\u308b\u3002\u7c73\u56fd\u653f\u5e9c\u306f\u3053\u306e\u501f\u91d1\u306e\u5229\u6255\u3044\u3092\u65b0\u305f\u306a\u501f\u91d1\u306b\u3088\u3063\u3066\u652f\u6255\u3063\u3066\u304a\u308a\u3001\u50b5\u52d9\u306f\u96ea\u3060\u308b\u307e\u5f0f\u306b\u5897\u3048\u3088\u3046\u3068\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306b\u3088\u3063\u3066\u8ca1\u52d9\u9577\u5b98\u306b\u6307\u540d\u3055\u308c\u305f\u30b9\u30b3\u30c3\u30c8\u30fb\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u3053\u306e\u72b6\u6cc1\u3092\u8a8d\u8b58\u3057\u3066\u304a\u308a\u3001\u73fe\u57286%\u3092\u8d85\u3048\u3066\u3044\u308b\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u30923%\u307e\u3067\u6e1b\u3089\u3059\u3068\u3044\u3046\u76ee\u6a19\u3092\u7acb\u3066\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/56835\" data-type=\"post\" data-id=\"56835\">\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f: \u7c73\u56fd\u306e\u50b5\u52d9\u554f\u984c\u306b\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u8987\u6a29\u304c\u304b\u304b\u3063\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u5143\u30bd\u30ed\u30b9\u30d5\u30a1\u30f3\u30c9\u306e\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f<\/strong><\/p>\n\n\n\n<p>\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u3001\u666e\u901a\u306e\u8ca1\u52d9\u9577\u5b98\u3068\u306f\u9055\u3046\u3002\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u5143\u3005\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306eSoros Fund Management\u306e\u904b\u7528\u3092\u4efb\u3055\u308c\u3066\u3044\u305f\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3067\u3042\u308a\u3001\u8cc7\u7523\u904b\u7528\u696d\u754c\u3067\u3082\u4e16\u754c\u7684\u306b\u6709\u540d\u306a\u4eba\u7269\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u4ed6\u306e\u653f\u6cbb\u5bb6\u3068\u306f\u9055\u3063\u3066\u76f8\u5834\u3092\u77e5\u3063\u3066\u3044\u308b\u3002\u3060\u304b\u3089\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u61f8\u5ff5\u3057\u3066\u3044\u308b\u7c73\u56fd\u50b5\u306e\u72b6\u6cc1\u3092\u9593\u9055\u3044\u306a\u304f\u7406\u89e3\u3057\u3066\u3044\u308b\u306f\u305a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u3001\u8ca1\u52d9\u9577\u5b98\u5c31\u4efb\u306b\u3042\u305f\u3063\u3066\u30a2\u30d9\u30ce\u30df\u30af\u30b9\u3092\u3082\u3058\u3063\u305f3\u3064\u306e\u76ee\u6a19\u3092\u767a\u8868\u3057\u3066\u3044\u308b\u30023%\u306e\u8ca1\u653f\u8d64\u5b57\u30013%\u306e\u5b9f\u8cea\u7d4c\u6e08\u6210\u9577\u3001\u539f\u6cb9\u306e\u7523\u51fa\u91cf\u306e\u5897\u52a0\u306b\u3088\u308b\u30a4\u30f3\u30d5\u30ec\u7387\u4f4e\u4e0b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/56773\" data-type=\"post\" data-id=\"56773\">\u30c8\u30e9\u30f3\u30d7\u6c0f\u6307\u540d\u306e\u65b0\u8ca1\u52d9\u9577\u5b98\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u3001\u30a2\u30d9\u30ce\u30df\u30af\u30b9\u3092\u3082\u3058\u3063\u305f3\u3064\u306e\u77e2\u306e\u7d4c\u6e08\u653f\u7b56\u3092\u63d0\u8a00<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u6279\u5224<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u3053\u306e\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306e\u63d0\u8a00\u306f\u3001\u7b46\u8005\u304c\u898b\u308b\u9650\u308a\u5358\u306b\u76ee\u6a19\u3092\u7acb\u3066\u305f\u3060\u3051\u3067\u3042\u3063\u3066\u3001\u305d\u308c\u3092\u3069\u3046\u3084\u3063\u3066\u5b9f\u73fe\u3059\u308b\u306e\u304b\u306b\u3064\u3044\u3066\u306e\u8a73\u7d30\u306b\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u8e0f\u307f\u8fbc\u3093\u3067\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3082\u540c\u3058\u5370\u8c61\u3092\u53d7\u3051\u305f\u306e\u304b\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u7d50\u69cb\u75db\u70c8\u306b\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306e\u3053\u306e\u63d0\u6848\u3092\u6279\u5224\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\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>\u30b9\u30b3\u30c3\u30c8\u30fb\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f3\u672c\u306e\u77e2\u306e\u8a71\u3092\u3057\u3066\u3044\u305f\u30023%\u306e\u8ca1\u653f\u8d64\u5b57\u30683%\u306e\u7d4c\u6e08\u6210\u9577\u3002<\/p>\n\n\n\n<p>3%\u306e\u8ca1\u653f\u8d64\u5b57\u30683%\u306e\u7d4c\u6e08\u6210\u9577\u306e\u76ee\u6a19\u306e\u554f\u984c\u306f\u3001\u305d\u308c\u3089\u306f\u307b\u3068\u3093\u3069\u4e92\u3044\u306b\u77db\u76fe\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306e\u76ee\u6a19\u306f\u5b9f\u73fe\u4e0d\u53ef\u80fd\u3060\u3068\u8003\u3048\u3066\u3044\u308b\u3002\u7406\u7531\u306f\u6b21\u306e\u901a\u308a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u8ca1\u653f\u8d64\u5b57\u30927%\u304b\u30893%\u306b\u524a\u6e1b\u3059\u308c\u3070\u30013%\u306e\u7d4c\u6e08\u6210\u9577\u306f\u7121\u7406\u3060\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u305d\u308c\u306fGDP\u30924%\u5f15\u304d\u4e0b\u3052\u308b\u304b\u3089\u3060\u3002\u305d\u308c\u306f\u7121\u7406\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3082\u3057\u8aad\u8005\u306e\u982d\u306e\u4e2d\u306bGDP\u306e\u5b9a\u7fa9\u5f0f\u304c\u3042\u308c\u3070\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u8ad6\u70b9\u304c\u7406\u89e3\u3067\u304d\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u8ca1\u653f\u8d64\u5b57\u306f\u4f8b\u3048\u3070\u653f\u5e9c\u652f\u51fa\u306e\u305f\u3081\u306b\u5fc5\u8981\u3068\u306a\u3063\u3066\u3044\u308b\u308f\u3051\u3060\u304c\u3001\u653f\u5e9c\u652f\u51fa\u306fGDP\u306e\u5b9a\u7fa9\u5f0f\u306b\u305d\u306e\u307e\u307e\u542b\u307e\u308c\u308b\u3002\u3060\u304b\u3089\u653f\u5e9c\u652f\u51fa\u306f\u3001\u305d\u308c\u304c\u3069\u308c\u3060\u3051\u610f\u5473\u306e\u306a\u3044\u652f\u51fa\u3067\u3042\u3063\u305f\u3068\u3057\u3066\u3082\u3001\u5b9a\u7fa9\u4e0a\u305d\u306e\u307e\u307eGDP\u3092\u5f15\u304d\u4e0a\u3052\u308b\u3002<\/p>\n\n\n\n<p>\u9006\u306b\u8a00\u3048\u3070\u3001\u653f\u5e9c\u652f\u51fa\u3092\u306a\u304f\u305b\u3070\u305d\u306e\u5206\u305d\u306e\u307e\u307eGDP\u304c\u6e1b\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u3060\u304b\u3089\u8ca1\u653f\u8d64\u5b57\u30924%\u6e1b\u3089\u305b\u3070\u3001GDP\u304c4%\u6e1b\u308b\u3068\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u4e3b\u5f35\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u50b5\u52d9\u72b6\u6cc1\u306f\u60aa\u5316\u3059\u308b<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306e\u63d0\u6848\u304c\u305d\u3082\u305d\u3082\u771f\u5263\u306a\u3082\u306e\u3067\u306f\u306a\u3044\u3068\u4e3b\u5f35\u3057\u3066\u3044\u308b\u3002\u3060\u304c\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306b\u3088\u308c\u3070\u3001\u8ca1\u653f\u8d64\u5b57\u306e\u8b70\u8ad6\u306f\u3059\u3050\u306b\u771f\u5263\u306a\u3082\u306e\u306b\u306a\u3089\u3056\u308b\u3092\u5f97\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\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>\u3053\u3046\u3057\u305f\u8b70\u8ad6\u304c\u3082\u3063\u3068\u771f\u5263\u306b\u306a\u308b\u306e\u306f\u3001\u7d4c\u6e08\u304c\u6e1b\u901f\u3057\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u9577\u671f\u56fd\u50b5\u306e\u91d1\u5229\u304c\u4e0a\u304c\u308a\u59cb\u3081\u308b\u6642\u3060\u3002<\/p>\n\n\n\n<p>\u7a0e\u53ce\u304c\u6e1b\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u91d1\u5229\u304c\u4e0a\u304c\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u3053\u306e\u307e\u307e\u501f\u91d1\u304c\u5897\u3048\u7d9a\u3051\u3001\u50b5\u5238\u5e02\u5834\u306b\u5927\u91cf\u306e\u56fd\u50b5\u304c\u6d41\u5165\u3057\u7d9a\u3051\u308c\u3070\u3001\u56fd\u50b5\u4fa1\u683c\u304c\u4e0b\u843d\u3057\u3001\u91d1\u5229\u304c\u4e0a\u304c\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3046\u306a\u308c\u3070\u65e2\u306b\u5dee\u3057\u8feb\u3063\u3066\u3044\u308b\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u306f\u66f4\u306b\u5897\u52a0\u3059\u308b\u3053\u3068\u306b\u306a\u308a\u3001\u30a2\u30e1\u30ea\u30ab\u306f\u672c\u5f53\u306b\u5e74\u91d1\u306b\u624b\u3092\u4ed8\u3051\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30b3\u30ed\u30ca\u524d\u307e\u3067\u306f\u3001\u653f\u5e9c\u50b5\u52d9\u306f\u3069\u308c\u3060\u3051\u5897\u3084\u3057\u3066\u3082\u3088\u304f\u3001\u3069\u308c\u3060\u3051\u7d19\u5e63\u5370\u5237\u3092\u884c\u306a\u3063\u3066\u3082\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u3089\u306a\u3044\u9650\u308a\u4f55\u306e\u554f\u984c\u3082\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u304c\u307e\u3053\u3068\u3057\u3084\u304b\u306b\u8a71\u3055\u308c\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u5f7c\u3089\u306e\u4e3b\u5f35\u304c\u5b8c\u5168\u306b\u6b63\u3057\u3044\u3053\u3068\u304c\u3059\u3050\u306b\u8a3c\u660e\u3055\u308c\u305f\u3002\u30a4\u30f3\u30d5\u30ec\u304c\u751f\u3058\u3066\u50b5\u52d9\u3092\u5897\u3084\u305b\u306a\u304f\u306a\u3063\u305f\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/57641\" data-type=\"post\" data-id=\"57641\">\u30df\u30ec\u30a4\u5927\u7d71\u9818\u3001\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u3092\u6c38\u9060\u306b\u7d9a\u3051\u308b\u3068\u3069\u3046\u306a\u308b\u304b\u3092\u8a9e\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>Bridgewater\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304c\u30b3\u30ed\u30ca\u521d\u671f\u306e2020\u5e745\u6708\u306b\u5410\u3044\u305f\u540d\u8a00\u3092\u601d\u3044\u51fa\u3057\u305f\u3044\u3002\u5f7c\u306f\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>\u308f\u308c\u308f\u308c\u304c\u6d88\u8cbb\u3092\u3067\u304d\u308b\u304b\u3069\u3046\u304b\u306f\u308f\u308c\u308f\u308c\u304c\u751f\u7523\u3067\u304d\u308b\u304b\u3069\u3046\u304b\u306b\u639b\u304b\u3063\u3066\u3044\u308b\u306e\u3067\u3042\u308a\u3001\u653f\u5e9c\u304b\u3089\u9001\u3089\u308c\u3066\u304f\u308b\u7d19\u5e63\u306e\u91cf\u306b\u639b\u304b\u3063\u3066\u3044\u308b\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u7d19\u5e63\u306f\u98df\u3079\u3089\u308c\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3060\u304c\u8ab0\u3082\u8033\u3092\u8cb8\u3055\u306a\u304b\u3063\u305f\u3002\u305d\u3057\u3066\u73fe\u91d1\u7d66\u4ed8\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/50460\" data-type=\"post\" data-id=\"50460\">\u30c8\u30e9\u30f3\u30d7\u6c0f: \u73fe\u91d1\u7d66\u4ed8\u3067\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u306e\u306f\u30d0\u30a4\u30c7\u30f3\u6c0f\u3060<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u4e00\u65b9\u3067\u30c0\u30ea\u30aa\u6c0f\u306f\u6de1\u3005\u3068\u6b74\u53f2\u7814\u7a76\u3092\u884c\u3044\u3001\u5927\u82f1\u5e1d\u56fd\u306a\u3069\u30a2\u30e1\u30ea\u30ab\u4ee5\u524d\u306e\u8987\u6a29\u56fd\u5bb6\u304c\u50b5\u52d9\u5897\u52a0\u3068\u30a4\u30f3\u30d5\u30ec\u306b\u3088\u3063\u3066\u8870\u9000\u3057\u3066\u3044\u3063\u305f\u3053\u3068\u3092\u8457\u66f8\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\u7e8f\u3081\u3066\u51fa\u7248\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u6b21\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u756a\u3060\u3068\u8a00\u308f\u3093\u3070\u304b\u308a\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u4e16\u754c\u7d4c\u6e08\u306f\u305d\u306e\u5f8c\u5b9f\u969b\u306b\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u308a\u3001\u91d1\u5229\u304c\u4e0a\u304c\u3063\u3066\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u306f\u5371\u6a5f\u306b\u7015\u3057\u3066\u3044\u308b\u3002\u30c0\u30ea\u30aa\u6c0f\u306e\u60f3\u5b9a\u901a\u308a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\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>\u3053\u308c\u304c\u308f\u308c\u308f\u308c\u304c\u81ea\u5206\u3092\u81ea\u5206\u3067\u8ffd\u3044\u8fbc\u3093\u3060\u72b6\u6cc1\u3067\u3001\u305d\u308c\u306f\u3082\u3046\u3059\u3050\u305d\u3053\u307e\u3067\u6765\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\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","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\u30c8\u30cb\u30fc\u30fb\u30ed\u30d3\u30f3\u30ba\u6c0f\u306b\u3088\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\u308b\u3002 \u4eca\u56de\u306f\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u3067\u8ca1\u52d9\u9577\u5b98\u306b\u4efb\u547d\u3055\u308c\u305f\u30b9\u30b3\u30c3\u30c8\u30fb\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306b\u3064\u3044\u3066\u306e\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u30b3\u30e1\u30f3\u30c8 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/60261\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u52d9\u5371\u6a5f\u3001\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306e\u8ca1\u653f\u8d64\u5b57\u524a\u6e1b\u6848\u306f\u5b9f\u73fe\u4e0d\u53ef\u80fd<\/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-60261","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\/60261","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=60261"}],"version-history":[{"count":28,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/60261\/revisions"}],"predecessor-version":[{"id":60293,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/60261\/revisions\/60293"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=60261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=60261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=60261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}