{"id":62889,"date":"2025-04-06T19:50:46","date_gmt":"2025-04-06T10:50:46","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=62889"},"modified":"2025-04-06T19:50:47","modified_gmt":"2025-04-06T10:50:47","slug":"%e3%83%88%e3%83%a9%e3%83%b3%e3%83%97%e7%9b%b8%e5%a0%b4%e3%81%a7%e6%a0%aa%e5%bc%8f%e5%b8%82%e5%a0%b4%e3%81%8c%e6%9a%b4%e8%90%bd%e3%81%97%e3%81%a6%e3%81%84%e3%82%8b%e6%9c%ac%e5%bd%93%e3%81%ae%e7%90%86","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/62889","title":{"rendered":"\u30c8\u30e9\u30f3\u30d7\u76f8\u5834\u3067\u682a\u5f0f\u5e02\u5834\u304c\u66b4\u843d\u3057\u3066\u3044\u308b\u672c\u5f53\u306e\u7406\u7531"},"content":{"rendered":"\n<p>\u7c73\u56fd\u682a\u3092\u4e2d\u5fc3\u306b\u682a\u4fa1\u304c\u5927\u5e45\u306b\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002\u4e16\u9593\u3067\u306f\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u95a2\u7a0e\u304c\u539f\u56e0\u3060\u3068\u8a00\u308f\u308c\u3066\u3044\u308b\u304c\u3001\u3053\u306e\u4e0b\u843d\u76f8\u5834\u306e\u672c\u5f53\u306e\u539f\u56e0\u306f\u95a2\u7a0e\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u8a18\u4e8b\u3067\u306f2025\u5e74\u306e\u682a\u5b89\u306e\u672c\u5f53\u306e\u7406\u7531\u3092\u89e3\u8aac\u3057\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u6025\u843d\u3059\u308b\u7c73\u56fd\u682a<\/strong><\/p>\n\n\n\n<p>\u7c73\u56fd\u682a\u304c\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002\u682a\u4fa1\u306f\u30c9\u30ca\u30eb\u30c9\u30fb\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u5927\u7d71\u9818\u9078\u6319\u306b\u52dd\u5229\u3057\u305f\u53bb\u5e7411\u6708\u304b\u3089\u4e00\u6642\u4e0a\u6607\u3057\u3066\u3044\u305f\u304c\u3001\u305d\u306e\u5f8c2\u6708\u306e\u9ad8\u5024\u304b\u3089\u4e00\u6c17\u306b20%\u8fd1\u304f\u4e0b\u843d\u3059\u308b\u3053\u3068\u306b\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u682a\u4fa1\u6307\u6570\u3067\u3042\u308bS&amp;P 500\u306e\u30c1\u30e3\u30fc\u30c8\u306f\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\/04\/2025-4-5-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"551\" height=\"494\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-62837\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-s-and-p-500-chart.png 551w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-s-and-p-500-chart-300x269.png 300w\" sizes=\"auto, (max-width: 551px) 100vw, 551px\" \/><\/a><\/figure>\n\n\n\n<p>\u8457\u540d\u306a\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3067\u3082\u30c8\u30e9\u30f3\u30d7\u76f8\u5834\u3067\u682a\u5b89\u3092\u4e88\u60f3\u3059\u308b\u4eba\u306f\u307b\u3068\u3093\u3069\u3044\u306a\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u8ca1\u52d9\u9577\u5b98\u3067\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u306e\u30b9\u30b3\u30c3\u30c8\u30fb\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u304c\u304b\u3064\u3066\u904b\u7528\u3057\u3066\u3044\u305fSoros Fund Management\u306e\u73feCEO\u3067\u3042\u308b\u30c9\u30fc\u30f3\u30fb\u30d5\u30a3\u30c3\u30c4\u30d1\u30c8\u30ea\u30c3\u30af\u6c0f\u3060\u3051\u306f\u3001\u76f8\u5834\u3092\u77e5\u308a\u5c3d\u304f\u3057\u305f\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u3092\u64c1\u3059\u308b\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u682a\u5b89\u3092\u300c\u8a31\u5bb9\u300d\u3059\u308b\u3001\u3068\u3044\u3046\u8208\u5473\u6df1\u3044\u4e88\u60f3\u3092\u8868\u660e\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\/61129\" data-type=\"post\" data-id=\"61129\">\u30bd\u30ed\u30b9\u30d5\u30a1\u30f3\u30c9: \u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u682a\u4fa1\u4e0b\u843d\u3092\u6c17\u306b\u3057\u306a\u3044<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u5f7c\u5973\u306e\u898b\u89e3\u306b\u3088\u308c\u3070\u3001\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u304a\u3088\u3073\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u682a\u4fa1\u3088\u308a\u3082\u9577\u671f\u91d1\u5229\u3092\u6c17\u306b\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3002\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u3066\u30a2\u30e1\u30ea\u30ab\u306e\u83ab\u5927\u306a\u653f\u5e9c\u50b5\u52d9\u306b\u306f\u591a\u984d\u306e\u5229\u6255\u3044\u304c\u751f\u3058\u3066\u304a\u308a\u3001\u591a\u304f\u306e\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u306f\u91d1\u5229\u4e0a\u6607\u3067\u56fd\u50b5\u5e02\u5834\u306b\u554f\u984c\u304c\u751f\u3058\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u305f\u3002\u305d\u308c\u304c2025\u5e74\u521d\u3081\u306e\u72b6\u6cc1\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/61404\" data-type=\"post\" data-id=\"61404\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u8ca1\u653f\u8d64\u5b57\u7d99\u7d9a\u306a\u3089\u7c73\u56fd\u50b5\u306f\u30b7\u30e7\u30c3\u30ad\u30f3\u30b0\u306a\u72b6\u6cc1\u306b<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u682a\u9ad8\u306b\u3059\u308b\u8a33\u306b\u306f\u3044\u304b\u306a\u304b\u3063\u305f\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98<\/strong><\/p>\n\n\n\n<p>\u3060\u304b\u308911\u6708\u304b\u30892\u6708\u306b\u304b\u3051\u3066\u682a\u4fa1\u304c\u4e0a\u6607\u3057\u305f\u6642\u3001\u666e\u901a\u306a\u3089\u3070\u559c\u3076\u3079\u304d\u3068\u3053\u308d\u3060\u304c\u3001\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306f\u5371\u6a5f\u611f\u3092\u611f\u3058\u3066\u3044\u305f\u306f\u305a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4f55\u6545\u306a\u3089\u3070\u3001\u91d1\u878d\u5e02\u5834\u306b\u304a\u3051\u308b\u682a\u4fa1\u4e0a\u6607\u3068\u7d4c\u6e08\u52a0\u901f\u4e88\u60f3\u306b\u3088\u308a\u3001\u5e74\u672b\u5e74\u59cb\u306b\u304b\u3051\u3066\u540c\u6642\u306b\u9577\u671f\u91d1\u5229\u304c\u4e0a\u304c\u3063\u3066\u3057\u307e\u3063\u3066\u3044\u305f\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u9577\u671f\u91d1\u5229\u306f\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\/04\/2025-4-5-us-10-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"551\" height=\"494\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-62861\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-us-10-year-treasury-bond-yield-chart.png 551w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-us-10-year-treasury-bond-yield-chart-300x269.png 300w\" sizes=\"auto, (max-width: 551px) 100vw, 551px\" \/><\/a><\/figure>\n\n\n\n<p>\u7406\u60f3\u3092\u8a00\u3048\u3070\u3001\u91d1\u5229\u304c\u4f4e\u4e0b\u3057\u3066\u682a\u4fa1\u304c\u4e0a\u304c\u308c\u3070\u826f\u304b\u3063\u305f\u3060\u308d\u3046\u3002\u3060\u304c\u305d\u308c\u306f\u4e2d\u592e\u9280\u884c\u304c\u91d1\u878d\u7de9\u548c\u3092\u3057\u306a\u3051\u308c\u3070\u624b\u306b\u5165\u3089\u306a\u3044\u30b7\u30ca\u30ea\u30aa\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u30b3\u30ed\u30ca\u5f8c\u306b\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u3063\u3066\u3057\u307e\u3063\u305f\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306b\u304a\u3044\u3066\u3001\u91d1\u878d\u7de9\u548c\u3092\u3057\u3066\u3057\u307e\u3048\u3070\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u308b\u3002\u305d\u308c\u304c\u3053\u308c\u307e\u3067\u3068\u306f\u9055\u3046\u3068\u3053\u308d\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/57900\" data-type=\"post\" data-id=\"57900\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u4e2d\u592e\u9280\u884c\u306f\u3044\u305a\u308c\u7de9\u548c\u80fd\u529b\u3092\u5931\u3046<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304b\u3089\u4e16\u754c\u7684\u306a\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3067\u3082\u3042\u308b\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306f\u3001\u682a\u9ad8\u3068\u91d1\u5229\u4e0a\u6607\u304b\u3001\u682a\u5b89\u3068\u91d1\u5229\u4f4e\u4e0b\u304b\u306e\u9078\u629e\u80a2\u306b\u304a\u3044\u3066\u3001\u5f8c\u8005\u3092\u9078\u3093\u3060\u3002\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u95a2\u7a0e\u3092\u5f37\u8abf\u3059\u308c\u3070\u682a\u5f0f\u5e02\u5834\u306f\u4e0b\u843d\u3067\u53cd\u5fdc\u3057\u305f\u304c\u3001\u305d\u308c\u3092\u78ba\u4fe1\u72af\u7684\u306b\u305d\u306e\u307e\u307e\u306b\u3057\u3066\u304a\u3044\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u524d\u56de\u306e\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u3068\u306f\u9055\u3044\u3001\u4eca\u56de\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u682a\u5b89\u3092\u3042\u307e\u308a\u6c17\u306b\u3057\u3066\u3044\u306a\u3044\u3088\u3046\u306b\u898b\u3048\u305f\u3053\u3068\u306b\u306f\u305d\u3046\u3044\u3046\u80cc\u666f\u304c\u3042\u3063\u305f\u306e\u3067\u3042\u308b\u3002\u5f7c\u3089\u304c\u898b\u3066\u3044\u308b\u306e\u306f\u91d1\u5229\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u95a2\u7a0e\u306f\u682a\u5b89\u306e\u7406\u7531\u3067\u306f\u306a\u3044<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u7b46\u8005\u306f\u300c\u95a2\u7a0e\u3092\u5f37\u8abf\u3059\u308c\u3070\u682a\u5f0f\u5e02\u5834\u306f\u4e0b\u843d\u3067\u53cd\u5fdc\u3057\u305f\u300d\u3068\u306f\u8a00\u3063\u305f\u304c\u3001\u300c\u682a\u4fa1\u4e0b\u843d\u306e\u539f\u56e0\u306f\u95a2\u7a0e\u3060\u300d\u3068\u306f\u8a00\u3063\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u682a\u5b89\u3092\u8a31\u5bb9\u3059\u308b\u30b7\u30ca\u30ea\u30aa\u3092\u6307\u6458\u3057\u305f\u30d5\u30a3\u30c3\u30c4\u30d1\u30c8\u30ea\u30c3\u30af\u6c0f\u3067\u3055\u3048\u3082\u3001\u95a2\u7a0e\u305d\u306e\u3082\u306e\u304c\u7d4c\u6e08\u3092\u60aa\u5316\u3055\u305b\u308b\u3068\u306f\u8a00\u3063\u3066\u3044\u306a\u3044\u3002\u5f7c\u5973\u306e\u767a\u8a00\u3092\u518d\u63b2\u3059\u308b\u3068\u6b21\u306e\u3088\u3046\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/61129\" data-type=\"post\" data-id=\"61129\">\u30bd\u30ed\u30b9\u30d5\u30a1\u30f3\u30c9: \u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u682a\u4fa1\u4e0b\u843d\u3092\u6c17\u306b\u3057\u306a\u3044<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u95a2\u7a0e\u306b\u3064\u3044\u3066\u306e\u6559\u79d1\u66f8\u901a\u308a\u306e\u4e3b\u5f35\u306f\u3001\u8ca1\u52d9\u9577\u5b98\u304c\u8a00\u3063\u305f\u3088\u3046\u306b\u4f01\u696d\u304c\u4fa1\u683c\u4e0a\u6607\u5727\u529b\u3092\u5438\u53ce\u3057\u3001\u3057\u304b\u3082\u4fa1\u683c\u306e\u5909\u5316\u306f1\u56de\u304d\u308a\u306e\u3082\u306e\u3060\u3068\u3044\u3046\u3082\u306e\u3060\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u6d88\u8cbb\u8005\u3084\u4f01\u696d\u306e\u30bb\u30f3\u30c1\u30e1\u30f3\u30c8\u306f\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3067\u304d\u306a\u3044\u3082\u306e\u3060\u3002\u305d\u3057\u3066\u305d\u308c\u304c\u5d16\u304b\u3089\u843d\u3061\u304b\u3051\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3088\u304f\u8aad\u3081\u3070\u3001\u95a2\u7a0e\u305d\u306e\u3082\u306e\u304c\u7d4c\u6e08\u3092\u6e1b\u901f\u3055\u305b\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u30bb\u30f3\u30c1\u30e1\u30f3\u30c8\u60aa\u5316\u304c\u539f\u56e0\u306b\u306a\u308b\u3068\u4e3b\u5f35\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u540c\u3058\u304fSoros Fund Management\u51fa\u8eab\u306e\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u3082\u3001\u300c\u95a2\u7a0e\u306f\u305d\u306e\u4e00\u90e8\u3092\u5916\u56fd\u4eba\u304c\u652f\u6255\u3046\u6d88\u8cbb\u7a0e\u306b\u904e\u304e\u306a\u3044\u300d\u3068\u8a00\u3063\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<p>\u95a2\u7a0e\u305d\u306e\u3082\u306e\u304c\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306b\u3068\u3063\u3066\u5927\u3057\u305f\u8981\u56e0\u306b\u6210\u308a\u5f97\u306a\u3044\u7406\u7531\u306f\u3044\u304f\u3064\u304b\u3042\u308b\u3002\u307e\u305a\u3001\u8f38\u5165\u304c\u6e1b\u308b\u3053\u3068\u306fGDP\u3092\u62bc\u3057\u4e0b\u3052\u308b\u8981\u56e0\u3067\u306f\u306a\u304f\u3001\u62bc\u3057\u4e0a\u3052\u308b\u8981\u56e0\u3060\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>GDP\u306b\u306f\u8f38\u51fa\u304b\u3089\u8f38\u5165\u3092\u5f15\u3044\u305f\u3082\u306e\u304c\u52a0\u7b97\u3055\u308c\u308b\u305f\u3081\u3001\u8f38\u5165\u304c\u6e1b\u5c11\u3059\u308c\u3070GDP\u306b\u306f\u30d7\u30e9\u30b9\u306e\u8981\u56e0\u3068\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u3082\u30461\u3064\u306f\u3001\u95a2\u7a0e\u306e\u652f\u6255\u3044\u5143\u3068\u652f\u6255\u3044\u5148\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306eGDP\u306f30\u5146\u30c9\u30eb\u3067\u3001\u8f38\u5165\u306f4\u5146\u30c9\u30eb\u306a\u306e\u3067\u3001\u5e73\u5747\u3057\u3066\u305d\u306e20%\u306e\u95a2\u7a0e\u304c\u304b\u3051\u3089\u308c\u305f\u3068\u3059\u308b\u3068\u3001\u305d\u306e\u91d1\u984d\u306fGDP\u5168\u4f53\u306e2.8%\u3068\u306a\u308b\u304c\u3001\u305d\u306e\u534a\u5206\u3092\u5916\u56fd\u4eba\u304c\u652f\u6255\u3046\u3068\u8003\u3048\u308c\u30701.4%\u3068\u306a\u308a\u3001\u305d\u3057\u3066\u3053\u306e1.4%\u306f\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u304b\u3089\u6d88\u3048\u3066\u306a\u304f\u306a\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u8ab2\u7a0e\u3055\u308c\u305f\u95a2\u7a0e\u306f\u3001\u4f8b\u3048\u3070\u5168\u984d\u3092\u653f\u5e9c\u304c\u6e1b\u7a0e\u306e\u539f\u8cc7\u3068\u3057\u3066\u4f7f\u3048\u3070\u3001\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u3078\u306e\u5f71\u97ff\u306f\u5dee\u3057\u5f15\u304d\u3067\u30bc\u30ed\u3067\u3042\u308b\u3002\u8981\u3059\u308b\u306b\u7a0e\u91d1\u3092\u7a3c\u3044\u3060\u5206\u3001\u653f\u5e9c\u304c\u3069\u308c\u3060\u3051\u3092\u7d4c\u6e08\u306b\u9084\u5143\u3059\u308b\u304b\u3092\u8003\u3048\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u53ce\u652f\u76ee\u6a19\u306f\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u304c\u5225\u9014\u8868\u660e\u3057\u3066\u304a\u308a\u3001\u305d\u308c\u306f\u95a2\u7a0e\u306e\u6709\u7121\u3067\u5909\u308f\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306e\u8ca1\u653f\u8d64\u5b57\u76ee\u6a19\u304c\u666f\u6c17\u5f8c\u9000\u3092\u3082\u305f\u3089\u3059\u3068\u4e3b\u5f35\u3059\u308b\u306a\u3089\u5206\u304b\u308b\u304c\u3001\u95a2\u7a0e\u305d\u306e\u3082\u306e\u304c\u7d4c\u6e08\u304b\u3089\u8cc7\u91d1\u3092\u5438\u3044\u4e0a\u3052\u308b\u3068\u3059\u308b\u4e3b\u5f35\u306f\u9593\u9055\u3063\u3066\u3044\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>\u305d\u3082\u305d\u3082\u30a2\u30e1\u30ea\u30ab\u4eba\u304b\u3089\u5438\u3044\u53d6\u3089\u308c\u305f1.4%\u306e\u6a2a\u306b\u306f\u3001\u5916\u56fd\u4eba\u304b\u3089\u5438\u3044\u53d6\u308b\u7d14\u7136\u305f\u308b\u53ce\u5165\u3068\u3057\u3066\u306e\u3082\u3046\u534a\u5206\u306e1.4%\u304c\u5b58\u5728\u3057\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002\u305d\u308c\u306f\u4f55\u3089\u304b\u306e\u5f62\u3067\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u30d7\u30e9\u30b9\u3088\u3046\u306b\u4f7f\u308f\u308c\u308b\u3002<\/p>\n\n\n\n<p><strong>\u682a\u5b89\u306e\u672c\u5f53\u306e\u7406\u7531<\/strong><\/p>\n\n\n\n<p>\u3068\u3044\u3046\u3053\u3068\u3067\u3001\u95a2\u7a0e\u304c\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u3092\u666f\u6c17\u5f8c\u9000\u306b\u8ffd\u3044\u8fbc\u3080\u304b\u3089\u682a\u4fa1\u304c\u4e0b\u304c\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u4e3b\u5f35\u306f\u5408\u7406\u7684\u3067\u306f\u306a\u3044\u3057\u3001\u682a\u5b89\u306e\u53ef\u80fd\u6027\u3092\u6307\u6458\u3057\u305f\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3055\u3048\u305d\u3093\u306a\u3053\u3068\u306f\u60f3\u5b9a\u3057\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3067\u306f\u3001\u682a\u5b89\u306e\u672c\u5f53\u306e\u7406\u7531\u306f\u4f55\u306a\u306e\u304b\u3002\u601d\u3044\u51fa\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u306e\u306f\u3001\u5e74\u672b\u306b\u305d\u3082\u305d\u3082\u7c73\u56fd\u682a\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u304c\u99ac\u9e7f\u3052\u3066\u3044\u308b\u307b\u3069\u9ad8\u3044\u3068\u4e3b\u5f35\u3057\u3066\u3044\u305f\u30c7\u30a4\u30f4\u30a3\u30c3\u30c9\u30fb\u30ed\u30fc\u30bc\u30f3\u30d0\u30fc\u30b0\u6c0f\u306e\u8a18\u4e8b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/57536\" data-type=\"post\" data-id=\"57536\">\u30ed\u30fc\u30bc\u30f3\u30d0\u30fc\u30b0\u6c0f\u3001\u7c73\u56fd\u682a\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3092\u9177\u8a55<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u4f8b\u3048\u3070S&amp;P 500\u306e1\u682a\u5f53\u305f\u308a\u7d14\u5229\u76ca\u306f266\u30c9\u30eb\uff082025\u5e74\u672b\u306e\u4e88\u60f3\u5024\uff09\u3060\u304c\u3001\u3053\u306e\u6570\u5b57\u306f\u682a\u4fa1\u304c\u5929\u4e95\u4ed8\u8fd1\u3060\u3063\u305f\u9803\u306e6,100\u30c9\u30eb\u306e4.3%\u3067\u3042\u308b\u3002\u3064\u307e\u308aS&amp;P 500\u306e\u6295\u8cc7\u5bb6\u306f\u81ea\u5206\u306e\u6295\u8cc7\u984d\u306e4.3%\u306e\u5229\u76ca\u3092\u81ea\u5206\u306e\u53d6\u308a\u5206\u3068\u3057\u3066\u5f97\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u3092\u9ad8\u3044\u3068\u898b\u308b\u304b\u4f4e\u3044\u3068\u898b\u308b\u304b\u3060\u304c\u3001\u30ed\u30fc\u30bc\u30f3\u30d0\u30fc\u30b0\u6c0f\u306f\u305d\u3082\u305d\u3082\u9577\u671f\u56fd\u50b5\u306e\u5229\u56de\u308a\u304c4%\u53f0\u5f8c\u534a\u3067\u3042\u308b\u3053\u3068\u3092\u6307\u6458\u3057\u3066\u3044\u305f\u3002\u3060\u304b\u3089\u30ed\u30fc\u30bc\u30f3\u30d0\u30fc\u30b0\u6c0f\u306f\u3001\u7c73\u56fd\u682a\u306f\u7121\u30ea\u30b9\u30af\u8cc7\u7523\u306a\u306e\u304b\u3001\u3053\u3093\u306a\u72b6\u614b\u3067\u8ab0\u304c\u8cb7\u3046\u306e\u304b\u3068\u7c73\u56fd\u682a\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3092\u9177\u8a55\u3057\u3066\u3044\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u672c\u6765\u3001\u91d1\u5229\u304c\u4e0a\u304c\u308c\u3070\u682a\u5f0f\u306e\u5229\u56de\u308a\u3082\u4e0a\u304c\u3089\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002\u4f8b\u3048\u3070\u91d1\u5229\u304c\u4eca\u3068\u540c\u3058\u3088\u3046\u306a\u6c34\u6e96\u3060\u3063\u305f\u306e\u306f2005\u5e74\u524d\u5f8c\u3060\u304c\u3001\u3053\u306e\u9803\u306e\u682a\u5f0f\u306e\u5229\u56de\u308a\u306f5.5%\u7a0b\u5ea6\u3060\u3063\u305f\u3002\u56fd\u50b5\u306e\u5229\u56de\u308a\u4ee5\u4e0a\u306e\u5229\u56de\u308a\u304c\u78ba\u4fdd\u3055\u308c\u3066\u3044\u305f\u308f\u3051\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u73fe\u5728\u306e1\u682a\u5f53\u305f\u308a\u7d14\u5229\u76ca\u306e\u4e88\u60f3\u3067\u3042\u308b266\u30c9\u30eb\u3092\u524d\u63d0\u306b\u3001\u5f53\u6642\u3068\u540c\u30585.5%\u306e\u5229\u56de\u308a\u3092\u78ba\u4fdd\u3057\u3088\u3046\u3068\u601d\u3048\u3070\u3001\u682a\u4fa1\u306f4,800\u30c9\u30eb\u7a0b\u5ea6\u3067\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3068\u3044\u3046\u8a08\u7b97\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u3082\u3046\u4e00\u5ea6S&amp;P 500\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u63b2\u8f09\u3057\u3088\u3046\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"551\" height=\"494\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-62837\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-s-and-p-500-chart.png 551w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-s-and-p-500-chart-300x269.png 300w\" sizes=\"auto, (max-width: 551px) 100vw, 551px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u76f8\u5834\u304c\u4e0a\u4e0b\u3059\u308b\u672c\u5f53\u306e\u7406\u7531<\/strong><\/p>\n\n\n\n<p>\u9006\u306b\u8a00\u3048\u3070\u3001S&amp;P 500\u304c6,000\u30c9\u30eb\u3092\u8d85\u3048\u3066\u4e0a\u6607\u3057\u3066\u3044\u305f\u9803\u306f\u3001\u3053\u3046\u3044\u3046\u7406\u5c48\u3092\u7121\u8996\u3057\u3066\u4e0a\u6607\u3057\u3066\u3044\u305f\u306e\u3067\u3042\u308a\u3001\u682a\u5f0f\u5e02\u5834\u3068\u306f\u305d\u3046\u3044\u3046\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u9577\u3044\u4e0a\u6607\u76f8\u5834\u306b\u304a\u3044\u3066\u3001\u682a\u4fa1\u306f\u7406\u8ad6\u7684\u306a\u682a\u4fa1\u6c34\u6e96\u3092\u7121\u8996\u3057\u3066\u4e0a\u304c\u3063\u3066\u3086\u304f\u3002\u3057\u304b\u3057\u305d\u306e\u4e0a\u6607\u76f8\u5834\u3092\u7dad\u6301\u3059\u308b\u305f\u3081\u306b\u306f\u3001\u682a\u4fa1\u3092\u3069\u3093\u3069\u3093\u62bc\u3057\u4e0a\u3052\u3066\u3086\u304f\u30cb\u30e5\u30fc\u30b9\u304c\u5fc5\u8981\u3068\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u7c73\u56fd\u682a\u306b\u306fAI\u306a\u3069\u306e\u3001\u682a\u4fa1\u3092\u4e0a\u6607\u3055\u305b\u308b\u53e3\u5b9f\u304c\u3042\u3063\u305f\u3002\u3057\u304b\u3057\u305d\u308c\u306f\u7d14\u5229\u76ca\u3092\u5411\u4e0a\u3055\u305b\u308b\u8981\u56e0\uff08\u5b9f\u969b\u306bAI\u9298\u67c4\u306e\u5229\u76ca\u306f\u5897\u52a0\u3057\u3066\u3044\u305f\uff09\u3067\u306f\u3042\u3063\u3066\u3082\u3001\u7d14\u5229\u76ca\u306e\u4e0a\u6607\u5e45\u3092\u8d85\u3048\u3066\u3001AI\u3068\u306f\u7121\u95a2\u4fc2\u306e\u4f01\u696d\u3082\u542b\u3080\u682a\u4fa1\u5168\u4f53\u3092\u4e0a\u6607\u3055\u305b\u308b\u7406\u7531\u306b\u306f\u306a\u3089\u306a\u3044\u306e\u3060\u304c\u3001\u53e3\u5b9f\u304c\u3042\u308b\u9650\u308a\u4e0a\u6607\u76f8\u5834\u306f\u7d9a\u304f\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u305d\u308c\u304c\u58ca\u308c\u308b\u77ac\u9593\u304c\u3042\u308b\u3002\u305d\u308c\u306f\u9006\u306b\u3001\u682a\u5f0f\u3092\u58f2\u308b\u53e3\u5b9f\u304c\u30cb\u30e5\u30fc\u30b9\u3092\u652f\u914d\u3057\u305f\u6642\u3067\u3042\u308b\u3002\u6b63\u5f53\u306a\u7406\u7531\u306a\u304f\u3001\u69d8\u3005\u306a\u3053\u3068\u3092\u300c\u53e3\u5b9f\u300d\u306b\u3057\u3066\u4e0a\u304c\u3063\u3066\u304d\u305f\u76f8\u5834\u306f\u3001\u540c\u3058\u3088\u3046\u306b\u672c\u5f53\u306f\u4e0b\u843d\u8981\u56e0\u306b\u306a\u3089\u306a\u3044\u95a2\u7a0e\u3092\u300c\u53e3\u5b9f\u300d\u3068\u3057\u3066\u3001\u5d29\u58ca\u3057\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u7b46\u8005\u306f\u4f8b\u3048\u3070\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u3001\u4eca\u56de\u306e\u30c8\u30e9\u30f3\u30d7\u76f8\u5834\u306e\u554f\u984c\u306f\u95a2\u7a0e\u305d\u306e\u3082\u306e\u3067\u306f\u306a\u304f\u3001\u95a2\u7a0e\u306e\u4ed6\u306b\u76ee\u307c\u3057\u3044\u30cb\u30e5\u30fc\u30b9\u306e\u306a\u3044\u3053\u3068\u3060\u3068\u4e3b\u5f35\u3057\u3066\u304a\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/61988\" data-type=\"post\" data-id=\"61988\">\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f: \u95a2\u7a0e\u306f\u3069\u3046\u8ee2\u3093\u3067\u3082\u30a2\u30e1\u30ea\u30ab\u306b\u30d7\u30e9\u30b9<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u3060\u304b\u3089\u7b46\u8005\u306b\u306f\u3001\u30e1\u30c7\u30a3\u30a2\u304c\u3053\u308c\u307b\u3069\u4e00\u65b9\u7684\u306b\u95a2\u7a0e\u306b\u3064\u3044\u3066\u6279\u5224\u7684\u306a\u7406\u7531\u306f\u5206\u304b\u3089\u306a\u3044\u3057\u3001\u30e1\u30c7\u30a3\u30a2\u306e\u4e3b\u5f35\u306f\u5e38\u306b\u305d\u3046\u3044\u3046\u3082\u306e\u3060\u304c\u3001\u682a\u5f0f\u5e02\u5834\u306e\u672c\u5f53\u306e\u554f\u984c\u306f\u3001\u524d\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u6642\u3068\u9055\u3063\u3066\u95a2\u7a0e\u4ee5\u5916\u306e\u653f\u7b56\u304c\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304b\u3089\u51fa\u3066\u304d\u3066\u3044\u306a\u3044\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u524d\u56de\u306e\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u3067\u306f\u3001\u95a2\u7a0e\u304c\u3042\u3063\u305f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u682a\u4fa1\u306f\u4e0a\u304c\u3063\u305f\u3002\u4eca\u56de\u682a\u4fa1\u304c\u4e0b\u304c\u3063\u3066\u3044\u308b\u7406\u7531\u306f\u95a2\u7a0e\u3067\u306f\u306a\u304f\u3001\u95a2\u7a0e\u306e\u4ed6\u306b\u682a\u4fa1\u3092\u4e0a\u3052\u308b\u30cb\u30e5\u30fc\u30b9\u304c\u306a\u304b\u3063\u305f\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u682a\u5f0f\u5e02\u5834\u306f\u30de\u30b0\u30ed\u3068\u540c\u3058\u3067\u3001\u6b62\u307e\u308c\u3070\u6b7b\u3093\u3067\u3057\u307e\u3046\u3002\u682a\u4fa1\u306f\u4e0a\u306b\u306f4,800\u30c9\u30eb\u7a0b\u5ea6\u304c\u7406\u8ad6\u5024\u3060\u3068\u66f8\u3044\u305f\u304c\u3001\u305d\u308c\u306f\u9577\u671f\u7684\u306a\u5e73\u5747\u3067\u3042\u3063\u3066\u3001\u305d\u308c\u4ee5\u4e0a\u4e0b\u304c\u3089\u306a\u3044\u3053\u3068\u3092\u610f\u5473\u3057\u306a\u3044\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u682a\u4fa1\u306e\u5e95\u5024\u306f\u3001\u4f55\u51e6\u307e\u3067\u4e0b\u304c\u308c\u3070\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u304c\u3001\u3053\u306e\u6b62\u307e\u308c\u3070\u6b7b\u306c\u30de\u30b0\u30ed\u3092\u518d\u3073\u6cf3\u304c\u305b\u3088\u3046\u3068\u3059\u308b\u304b\u3069\u3046\u304b\u306b\u3088\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\/62833\" data-type=\"post\" data-id=\"62833\">\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818: \u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u624b\u8853\u306f\u7d42\u308f\u3063\u305f\u3001\u682a\u5f0f\u5e02\u5834\u306f\u4e0a\u6607\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30c8\u30e9\u30f3\u30d7\u6c0f\u306f\u300c\u624b\u8853\u306f\u7d42\u308f\u3063\u305f\u300d\u3068\u614b\u5ea6\u3092\u548c\u3089\u3052\u308b\u59ff\u52e2\u3092\u898b\u305b\u308b\u4e00\u65b9\u3067\u3001\u6700\u8fd1\u306e\u610f\u898b\u8868\u660e\u3067\u306f\u30a2\u30e1\u30ea\u30ab\u56fd\u6c11\u306b\u300c\u8010\u3048\u308d\u300d\u3068\u8a00\u3063\u3066\u3044\u308b\u3002\u660e\u3089\u304b\u306b\u30c8\u30e9\u30f3\u30d7\u6c0f\u306f\u3001\u3053\u306e\u682a\u5b89\u3092\u5fc5\u8981\u3060\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306f\u682a\u5b89\u3068\u3068\u3082\u306b\u91d1\u5229\u4f4e\u4e0b\u3092\u671b\u3093\u3060\u306e\u3060\u304c\u3001\u5f7c\u306b\u3068\u3063\u3066\u306e\u554f\u984c\u306f\u3001\u682a\u5b89\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u91d1\u5229\u304c\u305d\u3053\u307e\u3067\u4e0b\u304c\u3063\u305f\u308f\u3051\u3067\u306f\u306a\u3044\u3053\u3068\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\/04\/2025-4-5-us-10-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"551\" height=\"494\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-62861\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-us-10-year-treasury-bond-yield-chart.png 551w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-us-10-year-treasury-bond-yield-chart-300x269.png 300w\" sizes=\"auto, (max-width: 551px) 100vw, 551px\" \/><\/a><\/figure>\n\n\n\n<p>\u9577\u671f\u7684\u306b\u306f\u3001\u682a\u5b89\u3092\u3082\u3046\u5c11\u3057\u8a31\u5bb9\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u7b46\u8005\u306fS&amp;P 500\u304c\u5929\u4e95\u304b\u308930\u301c40%\u306e\u4e0b\u843d\u3068\u306a\u308c\u3070\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u3082\u8010\u3048\u3089\u308c\u306a\u3044\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u8e0f\u3093\u3067\u3044\u308b\u3002\u3064\u307e\u308a\u682a\u4fa14,000\u30c9\u30eb\u7a0b\u5ea6\u304c\u9632\u885b\u30e9\u30a4\u30f3\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\/04\/2025-4-5-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"551\" height=\"494\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-62837\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-s-and-p-500-chart.png 551w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-5-s-and-p-500-chart-300x269.png 300w\" sizes=\"auto, (max-width: 551px) 100vw, 551px\" \/><\/a><\/figure>\n\n\n\n<p>\u3044\u305a\u308c\u306b\u305b\u3088\u3001\u7c73\u56fd\u682a\u5168\u4f53\u306e\u9577\u671f\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u306f\u60aa\u3044\u3002\u3053\u308c\u306b\u3064\u3044\u3066\u306f\u7b46\u8005\u306f\u53bb\u5e74\u304b\u3089\u8a00\u3044\u7d9a\u3051\u3066\u3044\u308b\u3002\u91d1\u5229\u4e0a\u6607\u5c40\u9762\u306b\u304a\u3044\u3066\u306f\u3001\u91d1\u5229\u4f4e\u4e0b\u3068\u540c\u3058\u3088\u3046\u306a\u682a\u4fa1\u306f\u307e\u3063\u305f\u304f\u671f\u5f85\u3067\u304d\u306a\u3044\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/59903\" data-type=\"post\" data-id=\"59903\">\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<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306f\u300e<a href=\"https:\/\/amzn.to\/3IWcV1T\" target=\"_blank\" rel=\"noreferrer 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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>\u7c73\u56fd\u682a\u3092\u4e2d\u5fc3\u306b\u682a\u4fa1\u304c\u5927\u5e45\u306b\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002\u4e16\u9593\u3067\u306f\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u95a2\u7a0e\u304c\u539f\u56e0\u3060\u3068\u8a00\u308f\u308c\u3066\u3044\u308b\u304c\u3001\u3053\u306e\u4e0b\u843d\u76f8\u5834\u306e\u672c\u5f53\u306e\u539f\u56e0\u306f\u95a2\u7a0e\u3067\u306f\u306a\u3044\u3002 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