{"id":63454,"date":"2025-04-11T20:00:00","date_gmt":"2025-04-11T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=63454"},"modified":"2025-04-11T19:30:44","modified_gmt":"2025-04-11T10:30:44","slug":"%e3%83%88%e3%83%a9%e3%83%b3%e3%83%97%e6%94%bf%e6%a8%a9%e3%81%8c%e9%96%a2%e7%a8%8e%e3%82%92%e5%bb%b6%e6%9c%9f%e3%81%97%e3%81%9f%e6%9c%ac%e5%bd%93%e3%81%ae%e7%90%86%e7%94%b1%e3%81%af%e6%a0%aa%e4%be%a1","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63454","title":{"rendered":"\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u95a2\u7a0e\u3092\u5ef6\u671f\u3057\u305f\u672c\u5f53\u306e\u7406\u7531\u306f\u682a\u4fa1\u306e\u4e0b\u843d\u3067\u306f\u306a\u3044"},"content":{"rendered":"\n<p>\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u8a71\u984c\u3068\u306a\u3063\u3066\u3044\u305f\u95a2\u7a0e\u653f\u7b56\u306b\u3064\u3044\u3066\u3001\u4e2d\u56fd\u4ee5\u5916\u306e\u56fd\u306b\u5bfe\u3057\u306690\u65e5\u306e\u7336\u4e88\u671f\u9593\u4e0e\u3048\u3001\u305d\u306e\u9593\u306e\u95a2\u7a0e\u309210%\u306b\u5f15\u304d\u4e0b\u3052\u308b\u3053\u3068\u3092\u767a\u8868\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u95a2\u7a0e\u3068\u682a\u5b89\u306b\u3064\u3044\u3066\u306f\u4f55\u5ea6\u3082\u5831\u3058\u3066\u3044\u308b\u304c\u3001\u3053\u306e\u95a2\u7a0e\u306e\u5ef6\u671f\u3067\u72b6\u6cc1\u304c\u3069\u3046\u5909\u308f\u3063\u305f\u304b\u3092\u8aac\u660e\u3057\u3066\u3086\u304d\u305f\u3044\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u95a2\u7a0e\u5ef6\u671f<\/strong><\/p>\n\n\n\n<p>\u95a2\u7a0e\u304c\u5ef6\u671f\u3055\u308c\u305f\u3053\u3068\u306b\u3064\u3044\u3066\u3001\u8a18\u8005\u4f1a\u898b\u306e\u5834\u306b\u7acb\u3063\u305f\u306e\u306f\u30b9\u30b3\u30c3\u30c8\u30fb\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4eca\u56de\u306e\u95a2\u7a0e\u5ef6\u671f\u3092\u30c9\u30ca\u30eb\u30c9\u30fb\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306b\u9032\u8a00\u3057\u305f\u306e\u3082\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u3060\u3068\u8a00\u308f\u308c\u3066\u304a\u308a\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u3082\u4e16\u754c\u7684\u306a\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3067\u3042\u308b\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306e\u9032\u8a00\u3060\u304b\u3089\u805e\u304d\u5165\u308c\u305f\u306e\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63080\" data-type=\"post\" data-id=\"63080\">\u30c8\u30e9\u30f3\u30d7\u76f8\u5834\u306e\u682a\u4fa1\u66b4\u843d\u306f\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u3092\u7518\u304f\u898b\u305f\u6295\u8cc7\u5bb6\u3078\u306e\u7f70<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306f\u8a18\u8005\u4f1a\u898b\u306e\u5834\u3067\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>1\u9031\u9593\u524d\u3001\u308f\u305f\u3057\u306f\u3053\u3053\u3067\u3059\u3079\u3066\u306e\u56fd\u306b\u5bfe\u3057\u3001\u53cd\u6483\u3059\u308b\u306a\u3001\u305d\u3046\u3059\u308c\u3070\u5831\u308f\u308c\u308b\u3001\u3068\u8a00\u3063\u3066\u304a\u3044\u305f\u3002<\/p>\n\n\n\n<p>\u308f\u308c\u308f\u308c\u306e\u3068\u3053\u308d\u306b\u6765\u3066\u4ea4\u6e09\u3057\u305f\u3044\u56fd\u306b\u5bfe\u3057\u3066\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u306f\u8a71\u3092\u805e\u304f\u7528\u610f\u304c\u3042\u308b\u3002\u5f7c\u3089\u306e\u95a2\u7a0e\u306f10%\u306b\u4e0b\u3052\u3089\u308c\u308b\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u3001\u30a8\u30b9\u30ab\u30ec\u30fc\u30c8\u3059\u308b\u3053\u3068\u3092\u671b\u3093\u3060\u4e2d\u56fd\u306e\u95a2\u7a0e\u306f125%\u306b\u306a\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u95a2\u7a0e\u5ef6\u671f\u306e\u7406\u7531<\/strong><\/p>\n\n\n\n<p>\u554f\u984c\u306f\u3001\u4f55\u6545\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u3044\u304d\u306a\u308a\u95a2\u7a0e\u3092\u5ef6\u671f\u3057\u305f\u304b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4e16\u9593\u3067\u306f\u682a\u5b89\u306f\u95a2\u7a0e\u306e\u305b\u3044\u3060\u3068\u3044\u3046\u3053\u3068\u304c\u9a12\u304c\u308c\u3066\u3044\u305f\u3002\u7c73\u56fd\u306e\u682a\u4fa1\u6307\u6570\u3067\u3042\u308bS&amp;P 500\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\/2025-4-11-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\/2025-4-11-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-63463\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-11-s-and-p-500-chart.png 551w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-11-s-and-p-500-chart-300x269.png 300w\" sizes=\"auto, (max-width: 551px) 100vw, 551px\" \/><\/a><\/figure>\n\n\n\n<p>\u95a2\u7a0e\u5ef6\u671f\u304c\u767a\u8868\u3055\u308c\u305f\u65e5\u306f\u5927\u5e45\u4e0a\u6607\u3057\u305f\u304c\u3001\u305d\u306e\u7fcc\u65e5\u306f\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3055\u3066\u3001\u3053\u3053\u306e\u8a18\u4e8b\u3067\u306f\u682a\u5b89\u306e\u539f\u56e0\u306f\u95a2\u7a0e\u3067\u306f\u306a\u304f\u3001\u306a\u304a\u304b\u3064\u3053\u306e\u7a0b\u5ea6\u306e\u682a\u5b89\u306b\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u914d\u616e\u3059\u308b\u3053\u3068\u306f\u306a\u3044\u3068\u66f8\u3044\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\/63246\" data-type=\"post\" data-id=\"63246\">\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98: \u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306f\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u306b\u682a\u4fa1\u3092\u72a0\u7272\u306b\u3057\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u306f\u3001S&amp;P 500\u304c4,000\u30c9\u30eb\u7a0b\u5ea6\u306b\u306a\u308b\u307e\u3067\u306f\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\uff08\u3068\u3044\u3046\u3088\u308a\u306f\u3001\u76f8\u5834\u306b\u95a2\u3057\u3066\u30c8\u30e9\u30f3\u30d7\u6c0f\u306b\u52a9\u8a00\u3057\u3066\u3044\u308b\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\uff09\u306f\u682a\u5b89\u3092\u6c17\u306b\u3057\u306a\u3044\u3060\u308d\u3046\u3068\u3044\u3046\u3053\u3068\u3092\u66f8\u3044\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\/62889\" data-type=\"post\" data-id=\"62889\">\u30c8\u30e9\u30f3\u30d7\u76f8\u5834\u3067\u682a\u5f0f\u5e02\u5834\u304c\u66b4\u843d\u3057\u3066\u3044\u308b\u672c\u5f53\u306e\u7406\u7531<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u91d1\u5229\u3068\u95a2\u7a0e<\/strong><\/p>\n\n\n\n<p>\u305d\u306e\u7406\u7531\u306f\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u682a\u4fa1\u3088\u308a\u3082\u91d1\u5229\u3092\u6c17\u306b\u3057\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306f\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u3067\u83ab\u5927\u306a\u7c73\u56fd\u50b5\u306b\u591a\u984d\u306e\u5229\u6255\u3044\u8cbb\u7528\u304c\u767a\u751f\u3057\u3066\u304a\u308a\u3001\u3053\u308c\u4ee5\u4e0a\u91d1\u5229\u304c\u4e0a\u304c\u3063\u3066\u3057\u307e\u3046\u3068\u7c73\u56fd\u653f\u5e9c\u306f\u501f\u91d1\u3067\u9996\u304c\u56de\u3089\u306a\u304f\u306a\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>\u4e16\u754c\u7684\u306a\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3067\u3042\u308b\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306f\u305d\u306e\u3053\u3068\u3092\u8a8d\u8b58\u3057\u3066\u3044\u305f\u3002\u3060\u304b\u3089\u8ca1\u653f\u8d64\u5b57\u3092\u6e1b\u3089\u3057\u305f\u4e0a\u3067\u91d1\u5229\u3092\u4e0b\u3052\u3088\u3046\u3068\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u61f8\u5ff5\u3067\u91d1\u878d\u7de9\u548c\u306b\u3088\u308b\u5f37\u5236\u7684\u306a\u91d1\u5229\u4f4e\u4e0b\u304c\u671b\u3081\u306a\u3044\u4ee5\u4e0a\u3001\u7d4c\u6e08\u304c\u904e\u71b1\u3059\u308c\u3070\u91d1\u5229\u306f\u4e0a\u304c\u308a\u3001\u6e1b\u901f\u3059\u308c\u3070\u91d1\u5229\u306f\u4e0b\u304c\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u76f8\u5834\u306b\u7cbe\u901a\u3057\u305f\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306f\u3001\u5143\u3005\u682a\u4fa1\u304c\u4e0a\u304c\u3063\u3066\u3044\u305f\u4e2d\u3067\u95a2\u7a0e\u3092\u5f37\u8abf\u3055\u305b\u3066\u51b7\u6c34\u3092\u6d74\u3073\u305b\u3001\u682a\u4fa1\u304c\u4e0b\u304c\u3063\u3066\u3067\u3082\u91d1\u5229\u304c\u4f4e\u4e0b\u3059\u308b\u30b7\u30ca\u30ea\u30aa\u53d6\u3063\u305f\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\/63246\" data-type=\"post\" data-id=\"63246\">\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98: \u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306f\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u306b\u682a\u4fa1\u3092\u72a0\u7272\u306b\u3057\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306e\u8aa4\u7b97<\/strong><\/p>\n\n\n\n<p>\u305d\u3057\u3066\u91d1\u5229\u306f\u5143\u3005\u3001\u682a\u5b89\u306b\u5408\u308f\u305b\u3066\u4f4e\u4e0b\u3057\u3066\u3044\u305f\u3002\u3060\u304c\u682a\u4fa1\u4e0b\u843d\u304c\u6fc0\u3057\u304f\u306a\u308b\u306b\u3064\u308c\u3066\u91d1\u5229\u304c\u53cd\u8ee2\u3057\u59cb\u3081\u3001\u9042\u306b\u306f\u4e0a\u6607\u304c\u52a0\u901f\u3057\u59cb\u3081\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u9577\u671f\u91d1\u5229\u306e\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\/2025\/04\/2025-4-11-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\/2025-4-11-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-63471\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-11-us-10-year-treasury-bond-yield-chart.png 551w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-11-us-10-year-treasury-bond-yield-chart-300x269.png 300w\" sizes=\"auto, (max-width: 551px) 100vw, 551px\" \/><\/a><\/figure>\n\n\n\n<p>\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u95a2\u7a0e\u3092\u5ef6\u671f\u3057\u305f\u306e\u306f\u307e\u3055\u306b\u3053\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u3042\u308b\u3002\u91d1\u5229\u4e0a\u6607\u306f\u56fd\u50b5\u306e\u4fa1\u683c\u4f4e\u4e0b\u3092\u610f\u5473\u3059\u308b\u3002\u7c73\u56fd\u50b5\u5e02\u5834\u306f\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306e\u76ee\u8ad6\u898b\u3088\u308a\u3082\u6050\u3089\u304f\u5927\u5e45\u306b\u8106\u5f31\u3060\u3063\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u8ab0\u304c\u7c73\u56fd\u50b5\u3092\u58f2\u3063\u305f\u306e\u304b<\/strong><\/p>\n\n\n\n<p>\u901a\u5e38\u3001\u682a\u5b89\u306b\u306a\u308c\u3070\u56fd\u50b5\u306f\u8cb7\u308f\u308c\u3001\u91d1\u5229\u306f\u4e0b\u304c\u308b\u3002\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u306e\u6642\u3067\u3055\u3048\u3001\u682a\u4fa1\u3068\u91d1\u4fa1\u683c\u304c\u4e0b\u304c\u308b\u4e2d\u3067\u56fd\u50b5\u3060\u3051\u306f\u4e0a\u6607\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/4454\" data-type=\"post\" data-id=\"4454\">\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3067\u6025\u843d\u3057\u305f\u91d1\u4fa1\u683c\u3001\u4e0a\u6607\u3057\u305f\u7c73\u56fd\u50b5<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u4eca\u56de\u3001\u682a\u5b89\u3067\u7c73\u56fd\u50b5\u304c\u4e0b\u843d\u306b\u8ee2\u63db\u3057\u305f\u3002\u3053\u308c\u306f\u5927\u304d\u306a\u4e8b\u5b9f\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u8ab0\u304b\u304c\u7c73\u56fd\u50b5\u3092\u58f2\u3063\u305f\u3001\u3042\u308b\u3044\u306f\u8cc7\u91d1\u4e0a\u306e\u554f\u984c\u3067\u58f2\u3089\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u3063\u305f\u308f\u3051\u3060\u304c\u3001\u5e02\u5834\u306e\u5642\u3067\u306f\u305d\u308c\u304c\u4e2d\u56fd\u4eba\u3060\u3068\u304b\u65e5\u672c\u4eba\u3060\u3068\u304b\u8a00\u308f\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u5177\u4f53\u7684\u306b\u306f\u7c73\u56fd\u50b5\u6295\u8cc7\u306b\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u639b\u3051\u3059\u304e\u305f\u3053\u3068\u3067\u5143\u3005\u554f\u984c\u304c\u751f\u3058\u3066\u3044\u305f\u8fb2\u6797\u4e2d\u91d1\u304c\u7c73\u56fd\u50b5\u3092\u640d\u5207\u308a\u3057\u305f\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u8a00\u308f\u308c\u3066\u3044\u308b\u306e\u3060\u304c\u3001\u5177\u4f53\u7684\u306b\u8ab0\u304c\u7c73\u56fd\u50b5\u3092\u58f2\u3063\u305f\u306e\u304b\u306f\u3053\u3053\u3067\u306f\u91cd\u8981\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p><strong>\u7c73\u56fd\u50b5\u3092\u6295\u3052\u58f2\u308a\u3059\u308b\u5916\u56fd\u4eba<\/strong><\/p>\n\n\n\n<p>\u91cd\u8981\u306a\u306e\u306f\u3001\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u7c73\u56fd\u306e\u8cc7\u7523\u304c\u3069\u3093\u3069\u3093\u5916\u56fd\u4eba\u306b\u8cb7\u308f\u308c\u7d9a\u3051\u3066\u304d\u305f\u3053\u3068\u3092\u554f\u984c\u8996\u3057\u3066\u3044\u305f\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\/61668\" data-type=\"post\" data-id=\"61668\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3001\u7c73\u56fd\u682a\u6700\u5f37\u306e\u6642\u4ee3\u304c\u7d42\u308f\u308b\u7406\u7531\u3092\u8aac\u660e\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306f\u7c73\u56fd\u682a\u3084\u7c73\u56fd\u50b5\u3092\u65e5\u672c\u4eba\u3084\u4e2d\u56fd\u4eba\u306b\u8cb7\u308f\u305b\u308b\u3053\u3068\u3067\u7d4c\u6e08\u6210\u9577\u3057\u3066\u304d\u305f\u3002\u3060\u304c\u30a2\u30e1\u30ea\u30ab\u306e\u8cc7\u7523\u304c\u5916\u56fd\u4eba\u306b\u8cb7\u308f\u308c\u308c\u3070\u8cb7\u308f\u308c\u308b\u307b\u3069\u3001\u7c73\u56fd\u682a\u3084\u7c73\u56fd\u50b5\u306f\u8106\u5f31\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u7c73\u56fd\u5e02\u5834\u304c\u30a2\u30e1\u30ea\u30ab\u4eba\u3060\u3051\u3067\u5b8c\u7d50\u3057\u3066\u3044\u308c\u3070\u3001\u682a\u5b89\u306e\u6642\u306b\u306f\u682a\u5f0f\u3092\u58f2\u3063\u3066\u9810\u91d1\u306b\u3057\u3001\u305d\u308c\u3092\u9810\u304b\u308b\u9280\u884c\u304c\u9810\u91d1\u3067\u56fd\u50b5\u3092\u8cb7\u3046\u306e\u3067\u3001\u56fd\u50b5\u4fa1\u683c\u306f\u4e0a\u304c\u308b\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u7c73\u56fd\u50b5\u304c\u5916\u56fd\u4eba\u306b\u4fdd\u6709\u3055\u308c\u3066\u3044\u3066\u3001\u3057\u304b\u3082\u682a\u5b89\u6642\u306b\u30c9\u30eb\u304c\u4e0b\u304c\u308b\u5834\u5408\u3001\u7c73\u56fd\u50b5\u305d\u306e\u3082\u306e\u306e\u4fa1\u683c\u304c\u4e0b\u304c\u3089\u306a\u304f\u3068\u3082\u3001\u30c9\u30eb\u306e\u4e0b\u843d\u306b\u3088\u3063\u3066\u5916\u56fd\u4eba\u306f\u30c0\u30e1\u30fc\u30b8\u3092\u53d7\u3051\u3001\u7c73\u56fd\u50b5\u3092\u640d\u5207\u308a\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308b\u72b6\u6cc1\u306b\u9665\u308b\u3002<\/p>\n\n\n\n<p>\u91cd\u8981\u306a\u306e\u306f\u3001\u682a\u5b89\u306e\u6642\u306b\u306f\u30c9\u30eb\u306f\u65e5\u672c\u5186\u4ee5\u5916\u306e\u591a\u304f\u306e\u901a\u8ca8\u306b\u5bfe\u3057\u3066\u4e0a\u304c\u308b\u3053\u3068\u304c\u591a\u304b\u3063\u305f\u306e\u3060\u304c\u3001\u4eca\u56de\u306f\u307e\u305a\u65e5\u672c\u5186\u3068\u30e6\u30fc\u30ed\u306b\u5bfe\u3057\u3066\u4e0b\u843d\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u66f4\u306b\u91cd\u8981\u306a\u306e\u306f\u3001\u4eba\u6c11\u5143\u306b\u5bfe\u3057\u3066\u3082\u6700\u521d\u306f\u4e0a\u304c\u3063\u3066\u3044\u305f\u306e\u3060\u304c\u3001\u7c73\u56fd\u50b5\u304c\u4e0b\u843d\uff08\u91d1\u5229\u306f\u4e0a\u6607\uff09\u3057\u305f\u306e\u3068\u307b\u307c\u540c\u3058\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u4eba\u6c11\u5143\u306b\u5bfe\u3057\u4e0b\u843d\u3057\u59cb\u3081\u305f\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4ee5\u4e0b\u306f\u30c9\u30eb\u5143\u306e\u30c1\u30e3\u30fc\u30c8\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\/2025-4-11-usdcnh-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"551\" height=\"494\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-11-usdcnh-chart.png\" alt=\"\" class=\"wp-image-63488\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-11-usdcnh-chart.png 551w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-11-usdcnh-chart-300x269.png 300w\" sizes=\"auto, (max-width: 551px) 100vw, 551px\" \/><\/a><\/figure>\n\n\n\n<p>\u30c9\u30eb\u306f\u672a\u3060\u306b\u4eba\u6c11\u5143\u306b\u5bfe\u3057\u3066\u4e0b\u843d\u3092\u7d9a\u3051\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u3068\u3044\u3046\u3053\u3068\u3067\u3001\u6d77\u5916\u6295\u8cc7\u5bb6\u304c\u30c9\u30eb\u3068\u7c73\u56fd\u50b5\u304b\u3089\u9003\u907f\u3057\u305f\u3053\u3068\u304c\u3001\u682a\u5b89\u306b\u5bfe\u3057\u3066\u4f59\u88d5\u306e\u614b\u5ea6\u3092\u898b\u305b\u3066\u3044\u305f\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306b\u5371\u6a5f\u611f\u3092\u62b1\u304b\u305b\u305f\u3002<\/p>\n\n\n\n<p>\u7c73\u56fd\u50b5\u5e02\u5834\u306e\u96f2\u884c\u304d\u304c\u3053\u308c\u307e\u3067\u306e\u91d1\u878d\u5371\u6a5f\u3068\u306f\u660e\u3089\u304b\u306b\u5909\u308f\u3063\u3066\u304d\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u3053\u306e\u8aad\u8005\u306f\u899a\u3048\u3066\u3044\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001\u30c9\u30eb\u304c\u5f31\u304f\u306a\u308b\u30bf\u30a4\u30df\u30f3\u30b0\u3053\u305d\u304c\u7c73\u56fd\u50b5\u30d0\u30d6\u30eb\u5d29\u58ca\u306e\u5f15\u304d\u91d1\u306b\u306a\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u305f\u4eba\u7269\u304c\u3044\u308b\u3002\u5143\u30af\u30ec\u30c7\u30a3\u30b9\u30a4\u30b9\u306e\u5929\u624d\u3001\u30be\u30eb\u30bf\u30f3\u30fb\u30dd\u30b8\u30e3\u30fc\u30eb\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\/50785\" data-type=\"post\" data-id=\"50785\">\u30dd\u30b8\u30e3\u30fc\u30eb\u6c0f: \u4e16\u754c\u7684\u306a\u30c9\u30eb\u96e2\u308c\u306e\u7d50\u679c\u306f\u30c9\u30eb\u5186\u4e0b\u843d\u3067\u306f\u306a\u304f\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u5371\u6a5f<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3053\u308c\u306f\u30c9\u30eb\u306e\u8987\u6a29\u306e\u7d42\u308f\u308a\u3068\u3044\u3046\u975e\u5e38\u306b\u5927\u304d\u306a\u30c8\u30ec\u30f3\u30c9\u306e\u4e00\u90e8\u3067\u3042\u308b\u3002\u3053\u306e\u30b7\u30ca\u30ea\u30aa\u3092\u63d0\u5531\u3057\u3066\u3044\u308b\u4e2d\u5fc3\u4eba\u7269\u3068\u8a00\u3048\u3070Bridgewater\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30c0\u30ea\u30aa\u6c0f\u306e\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\u3092\u672a\u8aad\u306e\u4eba\u306f\u3001\u8aad\u3093\u3067\u304a\u304f\u3079\u304d\u3060\u308d\u3046\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","protected":false},"excerpt":{"rendered":"<p>\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u8a71\u984c\u3068\u306a\u3063\u3066\u3044\u305f\u95a2\u7a0e\u653f\u7b56\u306b\u3064\u3044\u3066\u3001\u4e2d\u56fd\u4ee5\u5916\u306e\u56fd\u306b\u5bfe\u3057\u306690\u65e5\u306e\u7336\u4e88\u671f\u9593\u4e0e\u3048\u3001\u305d\u306e\u9593\u306e\u95a2\u7a0e\u309210%\u306b\u5f15\u304d\u4e0b\u3052\u308b\u3053\u3068\u3092\u767a\u8868\u3057\u305f\u3002 \u95a2\u7a0e\u3068\u682a\u5b89\u306b\u3064\u3044\u3066\u306f\u4f55\u5ea6\u3082\u5831\u3058\u3066\u3044\u308b\u304c\u3001\u3053\u306e\u95a2\u7a0e\u306e\u5ef6\u671f\u3067\u72b6\u6cc1\u304c\u3069\u3046\u5909\u308f\u3063\u305f\u304b\u3092\u8aac &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63454\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u95a2\u7a0e\u3092\u5ef6\u671f\u3057\u305f\u672c\u5f53\u306e\u7406\u7531\u306f\u682a\u4fa1\u306e\u4e0b\u843d\u3067\u306f\u306a\u3044<\/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":[185,59,118,120,111,19,108],"tags":[203],"class_list":["post-63454","post","type-post","status-publish","format-standard","hentry","category-cny","category-us-stock-market","category-us-bond-market","category-usdjpy","category-stock-markets","category-foreign-exchange-market","category-bond-markets","tag-scott-bessent"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/63454","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=63454"}],"version-history":[{"count":42,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/63454\/revisions"}],"predecessor-version":[{"id":63499,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/63454\/revisions\/63499"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=63454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=63454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=63454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}