{"id":61647,"date":"2025-03-20T20:00:00","date_gmt":"2025-03-20T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=61647"},"modified":"2025-03-20T15:12:27","modified_gmt":"2025-03-20T06:12:27","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%e5%86%85%e5%88%a9%e4%b8%8b%e3%81%923%e5%9b%9e%e3%81%af%e3%81%82%e3%82%8a%e3%81%9d%e3%81%86","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/61647","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u7c73\u56fd\u306e\u5e74\u5185\u5229\u4e0b\u30523\u56de\u306f\u3042\u308a\u305d\u3046\u306b\u306a\u3044"},"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\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4eca\u56de\u306fFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u91d1\u878d\u653f\u7b56\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u90e8\u5206\u3092\u7d39\u4ecb\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u306e\u5229\u4e0b\u3052<\/strong><\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306f\u30b3\u30ed\u30ca\u5f8c\u306e\u7269\u4fa1\u9ad8\u9a30\u30675%\u53f0\u307e\u3067\u5229\u4e0a\u3052\u3057\u305f\u5f8c\u3001\u53bb\u5e74\u306e9\u6708\u304b\u3089\u5229\u4e0b\u3052\u3092\u884c\u306a\u3063\u3066\u3044\u308b\u304c\u3001\u91d1\u878d\u5e02\u5834\u306e\u5229\u4e0b\u3052\u4e88\u60f3\u306f\u6700\u8fd1\u305a\u3063\u3068Fed\u306e\u5b9f\u969b\u306e\u5229\u4e0b\u3052\u3088\u308a\u3082\u5927\u304d\u306a\u5229\u4e0b\u3052\u5e45\u3092\u7e54\u308a\u8fbc\u3093\u3067\u304d\u305f\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>2025\u5e74\u306e\u5e02\u5834\u306e\u5229\u4e0b\u3052\u4e88\u60f3\u306f\u3053\u308d\u3053\u308d\u5909\u308f\u3063\u3066\u3044\u308b\u30022024\u5e74\u306e9\u6708\u307e\u3067\u306f\u591a\u304f\u306e\u5229\u4e0b\u3052\u304c\u7e54\u308a\u8fbc\u307e\u308c\u3066\u3044\u305f\u304c\u3001\u305d\u3053\u304b\u3089\u5229\u4e0b\u3052\u7e54\u308a\u8fbc\u307f\u306f\u5927\u304d\u304f\u5f8c\u9000\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u904e\u53bb1\u30f6\u6708\u3067\u307e\u305f\u5229\u4e0b\u3052\u304c\u7e54\u308a\u8fbc\u307e\u308c\u59cb\u3081\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>Fed\u304c\u5229\u4e0b\u3052\u3092\u59cb\u3081\u305f\u53bb\u5e749\u6708\u306b\u306f\u3001\u5927\u5e45\u306a\u5229\u4e0b\u3052\u304c\u3067\u304d\u308b\u3068\u3044\u3046\u697d\u89b3\u304c\u652f\u914d\u3057\u3066\u3044\u305f\u3002\u3060\u304c\u5b9f\u969b\u306b\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u305d\u308c\u307b\u3069\u6025\u306b\u4e0b\u304c\u3063\u305f\u308f\u3051\u3067\u306f\u306a\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u4e00\u65e6\u5229\u4e0b\u3052\u671f\u5f85\u306f\u5f8c\u9000\u3057\u305f\u306e\u3060\u304c\u3001\u6700\u8fd1\u306e\u682a\u5b89\u3067\u307e\u305f\u5fa9\u6d3b\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u69d8\u5b50\u306f\u3001Fed\u306e\u4eca\u5f8c\u306e\u5229\u4e0b\u3052\u898b\u8fbc\u307f\u3092\u7e54\u308a\u8fbc\u3093\u3067\u63a8\u79fb\u3059\u308b2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306b\u8868\u308c\u3066\u3044\u308b\u30029\u6708\u3092\u5883\u306b\u91d1\u5229\u4f4e\u4e0b\u304c\u9006\u623b\u308a\u3057\u3066\u3044\u308b\u304c\u3001\u6700\u8fd1\u307e\u305f\u4e0b\u843d\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\/03\/2025-3-20-us-2-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"564\" height=\"494\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/03\/2025-3-20-us-2-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-61655\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/03\/2025-3-20-us-2-year-treasury-bond-yield-chart.png 564w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/03\/2025-3-20-us-2-year-treasury-bond-yield-chart-300x263.png 300w\" sizes=\"auto, (max-width: 564px) 100vw, 564px\" \/><\/a><\/figure>\n\n\n\n<p>\u653f\u7b56\u91d1\u5229\u306f\u4eca4.25%\u3067\u3042\u308a\u3001\u305d\u308c\u306b\u5bfe\u3057\u30662\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u304c3.9%\u53f0\u3067\u3042\u308b\u3002\u3060\u304b\u3089\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>2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306f\u4eca3.9%\u3060\u304b\u3089\u3001\u4eca\u5e74Fed\u306f\u6050\u3089\u304f\u3082\u30461\u56de\u304b1.5\u56de\u307b\u3069\u5229\u4e0b\u3052\u3059\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u305f\u3060\u30012\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306f\u4eca\u5f8c2\u5e74\u306e\u91d1\u5229\u306e\u5e73\u5747\u3092\u8868\u3057\u3066\u3044\u308b\u306e\u306b\u5bfe\u3057\u3001\u5177\u4f53\u7684\u306a\u5229\u4e0b\u3052\u56de\u6570\u306e\u4e88\u60f3\u306f\u91d1\u5229\u5148\u7269\u5e02\u5834\u306b\u8868\u308c\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u91d1\u5229\u5148\u7269\u5e02\u5834\u306f\u5e74\u672b\u307e\u3067\u306b3\u56de\u306e\u5229\u4e0b\u3052\u3092\u7e54\u308a\u8fbc\u3093\u3067\u3044\u308b\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>\u91d1\u878d\u5e02\u5834\u306f\u6700\u8fd13\u56de\u4ee5\u4e0a\u5229\u4e0b\u3052\u3059\u308b\u3068\u7e54\u308a\u8fbc\u3093\u3067\u3044\u308b\u304c\u3001\u308f\u305f\u3057\u306f\u7591\u554f\u8996\u3057\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3053\u308c\u306f\u3001Soros Fund Management\u306e\u30c9\u30fc\u30f3\u30fb\u30d5\u30a3\u30c3\u30c4\u30d1\u30c8\u30ea\u30c3\u30af\u6c0f\u306e\u4e88\u60f3\u3068\u540c\u3058\u3067\u3042\u308b\u3002\u5f7c\u5973\u30823\u56de\u306e\u5229\u4e0b\u3052\u4e88\u60f3\u306b\u5bfe\u3057\u3066\u6b21\u306e\u3088\u3046\u306b\u8a00\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\/61231\" data-type=\"post\" data-id=\"61231\">\u30bd\u30ed\u30b9\u30d5\u30a1\u30f3\u30c9\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u5229\u4f4e\u4e0b\u3092\u4e88\u60f3<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u308f\u305f\u3057\u306a\u3089\u5e02\u5834\u306e\u9006\u306b\u8ced\u3051\u305f\u3044\u3002\u6700\u7d42\u7684\u306b\u306f\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u5e02\u5834\u304c\u60f3\u50cf\u3059\u308b\u3088\u308a\u3082\u591a\u304f\u306e\u75db\u307f\u3092\u53d7\u3051\u5165\u308c\u308b\u3060\u308d\u3046\u3002\u305d\u306e\u91cf\u306b\u306f\u9650\u754c\u304c\u3042\u308b\u304c\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30d5\u30a3\u30c3\u30c4\u30d1\u30c8\u30ea\u30c3\u30af\u6c0f\u306e\u4e88\u60f3\u306f\u3001Fed\u3068\u3044\u3046\u3088\u308a\u306f\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u9ad8\u91d1\u5229\u3092\u8a31\u5bb9\u3059\u308b\u304b\u3069\u3046\u304b\u306b\u57fa\u3065\u3044\u305f\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>2\u4eba\u306e\u4e88\u60f3\u304c\u6b63\u3057\u3051\u308c\u3070\u30012\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u4e0a\u6607\u306b\u8ced\u3051\u308b\u3053\u3068\u304c\u6b63\u3057\u3044\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u304c\u3001\u679c\u305f\u3057\u3066\u3069\u3046\u3060\u308d\u3046\u304b\u3002<\/p>\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\u3067\u3042\u308b\u3002 \u4eca\u56de\u306fFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u91d1\u878d\u653f\u7b56\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u90e8\u5206\u3092\u7d39\u4ecb\u3057\u305f\u3044\u3002<\/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-61647","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\/61647","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=61647"}],"version-history":[{"count":17,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/61647\/revisions"}],"predecessor-version":[{"id":61665,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/61647\/revisions\/61665"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=61647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=61647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=61647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}