{"id":65290,"date":"2025-05-16T20:00:00","date_gmt":"2025-05-16T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=65290"},"modified":"2025-05-15T12:13:06","modified_gmt":"2025-05-15T03:13:06","slug":"%e3%83%99%e3%83%83%e3%82%bb%e3%83%b3%e3%83%88%e8%b2%a1%e5%8b%99%e9%95%b7%e5%ae%98%e3%80%81%e7%b1%b3%e5%9b%bd%e3%81%ae%e9%87%91%e5%88%a9%e3%81%8c%e4%b8%8b%e3%81%8c%e3%82%8b%e3%81%a8%e4%ba%88%e6%83%b3","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/65290","title":{"rendered":"\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u3001\u7c73\u56fd\u306e\u91d1\u5229\u304c\u4e0b\u304c\u308b\u3068\u4e88\u60f3\u3059\u308b\u7406\u7531\u3092\u8aac\u660e\u3059\u308b"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u8ca1\u52d9\u9577\u5b98\u3067\u3042\u308a\u3001\u304b\u3064\u3066\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306eSoros Fund Management\u3092\u904b\u7528\u3057\u305f\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3067\u3082\u3042\u308b\u30b9\u30b3\u30c3\u30c8\u30fb\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u304cMilken Institute\u306b\u304a\u3051\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u30a2\u30e1\u30ea\u30ab\u306e\u9577\u671f\u91d1\u5229\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\"><strong>4\u6708\u306e\u682a\u4fa1\u4e0b\u843d<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a4\u30fc\u30ed\u30f3\u30fb\u30de\u30b9\u30af\u6c0f\u306b\u30d5\u30a1\u30c3\u30af\u30e6\u30fc\u3068\u8a00\u3046\u5834\u9762\u306f\u3042\u3063\u305f\u3082\u306e\u306e\u3001\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u57fa\u672c\u7684\u306b\u306f\u6e29\u539a\u3067\u793c\u5100\u6b63\u3057\u3044\u4eba\u7269\u3067\u3042\u308a\u3001\u65b0\u805e\u8a18\u8005\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u306f\u91d1\u878d\u5e02\u5834\u306e\u78ba\u4fe1\u7684\u306a\u90e8\u5206\u306b\u3064\u3044\u3066\u306f\u306e\u3089\u308a\u304f\u3089\u308a\u3068\u304b\u308f\u3059\u3053\u3068\u304c\u591a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/64088\" data-type=\"post\" data-id=\"64088\">\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u3001\u30de\u30b9\u30af\u6c0f\u306b\u30d5\u30a1\u30c3\u30af\u30e6\u30fc\u3068\u53eb\u3076\u3000DOGE\u306e\u8d64\u5b57\u524a\u6e1b\u304c\u5341\u5206\u3067\u306f\u306a\u3044\u3068\u6279\u5224<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304cMilken Institute\u306f\u30b8\u30e3\u30f3\u30af\u50b5\u306e\u5e1d\u738b\u3068\u547c\u3070\u308c\u305f\u30de\u30a4\u30b1\u30eb\u30fb\u30df\u30eb\u30b1\u30f3\u6c0f\u304c\u8a2d\u7acb\u3057\u305f\u7814\u7a76\u6240\u3067\u3042\u308a\u3001\u30df\u30eb\u30b1\u30f3\u6c0f\u306f\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306b\u76f4\u7403\u3067\u91d1\u5229\u306e\u52d5\u5411\u3092\u3069\u3046\u601d\u3046\u304b\u3068\u805e\u3044\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u3001\u307e\u305a4\u6708\u306e\u91d1\u878d\u5e02\u5834\u306e\u6df7\u4e71\u306b\u3064\u3044\u3066\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 class=\"wp-block-paragraph\">4\u6708\u306b\u7d4c\u9a13\u3057\u305f\u3082\u306e\u306f\u3088\u304f\u3042\u308b\u8abf\u6574\u3060\u3063\u305f\u3002\u8ab0\u3082\u304c\u91d1\u878d\u5e02\u5834\u306b\u304a\u3051\u308b\u30ad\u30e3\u30ea\u30a2\u306e\u4e2d\u3067\u305d\u308c\u3092\u7d4c\u9a13\u3057\u305f\u3053\u3068\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u308f\u305f\u3057\u306f\u30cf\u30a4\u30de\u30f3\u30fb\u30df\u30f3\u30b9\u30ad\u30fc\u6c0f\u306e\u4e3b\u5f35\u3092\u652f\u6301\u3057\u3066\u3044\u308b\u3002\u5b89\u5b9a\u3057\u305f\u5e02\u5834\u306f\u4e0d\u5b89\u5b9a\u306a\u5e02\u5834\u306b\u7e4b\u304c\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6050\u3089\u304f\u5e02\u5834\u306f\u5b89\u5b9a\u3057\u305f\u4e0a\u3052\u76f8\u5834\u3092\u7d4c\u9a13\u3057\u3059\u304e\u3066\u3044\u305f\u3002\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u5229\u304b\u305b\u305f\u591a\u304f\u306e\u30d7\u30ec\u30a4\u30e4\u30fc\u304c\u975e\u5e38\u306b\u5927\u304d\u306a\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u5f62\u6210\u3057\u3066\u3044\u305f\u3002\u305d\u3053\u306b\u4e0d\u78ba\u5b9f\u6027\u306e\u30b7\u30e7\u30c3\u30af\u304c\u52a0\u308f\u308a\u3001\u5f7c\u3089\u304c\u9003\u3052\u51fa\u3057\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u682a\u5b89\u306e\u672c\u5f53\u306e\u539f\u56e0<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u307e\u305a\u3001\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u304c4\u6708\u306e\u76f8\u5834\u3092\u300c\u3088\u304f\u3042\u308b\u8abf\u6574\u300d\u3060\u3063\u305f\u3068\u547c\u3093\u3060\u3053\u3068\u306b\u306f\u7570\u8b70\u3092\u5531\u3048\u305f\u3044\u30024\u6708\u306e\u76f8\u5834\u3067\u306f\u682a\u5b89\u306e\u6700\u4e2d\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u7c73\u56fd\u50b5\u304c\u4e0b\u843d\u3057\u305f\u3002\u305d\u308c\u306f2008\u5e74\u306e\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3067\u3082\u8d77\u3053\u3089\u306a\u304b\u3063\u305f\u3053\u3068\u3067\u3042\u308a\u3001\u904e\u53bb100\u5e74\u307b\u3069\u306e\u76f8\u5834\u306e\u4e2d\u30672\u56de\u3057\u304b\u8d77\u3053\u3063\u305f\u3053\u3068\u306e\u306a\u3044\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\/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 class=\"wp-block-paragraph\">\u305d\u3057\u3066\u305d\u306e2\u56de\u306e\u4e21\u65b9\u3067\u3001\u7c73\u56fd\u682a\u306f\u9577\u671f\u306e\u4e0b\u3052\u76f8\u5834\u306b\u7a81\u5165\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\/64013\" data-type=\"post\" data-id=\"64013\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u7c73\u56fd\u682a\u306f\u904e\u53bb\u306b2\u56de\u300125\u5e74\u9593\u682a\u4fa1\u304c\u4e0a\u304c\u3089\u306a\u304b\u3063\u305f\u4e0b\u843d\u76f8\u5834\u3092\u7d4c\u9a13\u3057\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306e\u767a\u8a00\u306e\u5f8c\u534a\u90e8\u5206\u306b\u306f\u4e00\u7406\u3042\u308b\u3002\u307e\u305a\u3001\u8a00\u53ca\u3055\u308c\u3066\u3044\u308b\u30df\u30f3\u30b9\u30ad\u30fc\u6c0f\u306f\u3001\u5e02\u5834\u306e\u30d0\u30d6\u30eb\u5f62\u6210\u3068\u5d29\u58ca\u3092\u7814\u7a76\u3057\u305f\u7d4c\u6e08\u5b66\u8005\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u304c\u8a00\u3044\u305f\u3044\u306e\u306f\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u95a2\u7a0e\u306f\u682a\u4fa1\u4e0b\u843d\u306e\u539f\u56e0\u3067\u306f\u306a\u304f\u3001\u304d\u3063\u304b\u3051\u306b\u904e\u304e\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u3053\u306e\u70b9\u306f\u3001\u7b46\u8005\u304c\u682a\u5b89\u306e\u76f4\u5f8c\u306b\u6307\u6458\u3057\u305f\u3053\u3068\u3068\u540c\u3058\u3067\u3042\u308b\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 class=\"wp-block-paragraph\">\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u682a\u5f0f\u5e02\u5834\u306f\u3053\u308c\u307e\u3067\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u3092\u307b\u307c\u7121\u8996\u3057\u3066\u4e0a\u6607\u3057\u3066\u304a\u308a\u3001\u91d1\u5229\u4e0a\u6607\u3092\u52a0\u5473\u3057\u305f\u9069\u6027\u6c34\u6e96\u3067\u8a00\u3048\u3070\u3001S&amp;P 500\u306f4,800\u30c9\u30eb\u7a0b\u5ea6\u3067\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3068\u6307\u6458\u3057\u305f\u3002S&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\/05\/2025-5-15-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"543\" height=\"500\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/05\/2025-5-15-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-65312\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/05\/2025-5-15-s-and-p-500-chart.png 543w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/05\/2025-5-15-s-and-p-500-chart-300x276.png 300w\" sizes=\"auto, (max-width: 543px) 100vw, 543px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u53bb\u5e74\u304b\u3089\u305a\u3063\u3068\u6307\u6458\u3057\u3066\u3044\u308b\u3053\u3068\u3060\u304c\u3001S&amp;P 500\u306f\u6975\u3081\u3066\u5272\u9ad8\u306a\u6c34\u6e96\u3067\u63a8\u79fb\u3057\u3066\u3044\u305f\u3002\u3060\u304c\u4e0a\u3052\u76f8\u5834\u306f\u305d\u308c\u3092\u58ca\u3059\u3088\u3046\u306a\u60aa\u6750\u6599\u304c\u51fa\u306a\u3044\u9650\u308a\u7d9a\u304f\u3002\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u3053\u308c\u307e\u3067\u306e\u4e0a\u3052\u76f8\u5834\u306b\u6c34\u3092\u6307\u3059\u304d\u3063\u304b\u3051\u3092\u63d0\u4f9b\u3057\u3001\u5143\u3005\u5b58\u5728\u3057\u3066\u3044\u305f\u682a\u4fa1\u30d0\u30d6\u30eb\u3092\u58ca\u3057\u304b\u3051\u305f\u306b\u904e\u304e\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\/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 (2025\/12\/25)<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u91d1\u5229\u306f\u4e0b\u843d\u3059\u308b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3055\u3066\u3001\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306e\u554f\u984c\u306f\u3001\u3053\u306e\u5f8c\u682a\u5f0f\u5e02\u5834\u304c\u5143\u306e\u4e0a\u3052\u76f8\u5834\u306b\u5fa9\u5e30\u3059\u308b\u306e\u304b\u3001\u5d29\u58ca\u3057\u304b\u3051\u305f\u30d0\u30d6\u30eb\u306f\u3082\u3046\u5143\u306b\u306f\u623b\u3089\u306a\u3044\u306e\u304b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u3057\u3066\u305d\u308c\u3092\u6c7a\u3081\u308b\u8981\u56e0\u306e1\u3064\u306f\u3001\u3084\u306f\u308a\u91d1\u5229\u3060\u308d\u3046\u3002\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u7acb\u5834\u4e0a\u8a00\u3048\u306a\u3044\u304c\u3001\u7c73\u56fd\u682a\u3068\u7c73\u56fd\u50b5\u304c\u540c\u6642\u4e0b\u843d\u3057\u305f\u3053\u3068\u306f\u91d1\u878d\u306e\u4e16\u754c\u3067\u306f\u5927\u30cb\u30e5\u30fc\u30b9\u306a\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\/64264\" data-type=\"post\" data-id=\"64264\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u30c9\u30eb\u3068\u7c73\u56fd\u682a\u3068\u7c73\u56fd\u50b5\u306e\u30c8\u30ea\u30d7\u30eb\u5b89\u3001\u30a2\u30e1\u30ea\u30ab\u304b\u3089\u8cc7\u91d1\u304c\u6d41\u51fa\u3057\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u5229\u306f\u3069\u3046\u306a\u308b\u306e\u304b\u3002\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u81ea\u5206\u306e\u4e88\u60f3\u3092\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 class=\"wp-block-paragraph\">\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u76ee\u6307\u3057\u3066\u3044\u308b\u306e\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u306a\u304d\u7d4c\u6e08\u6210\u9577\u3092\u751f\u307f\u51fa\u3057\u305f\u7b2c1\u6b21\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306b\u623b\u308b\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a4\u30f3\u30d5\u30ec\u306a\u304d\u7d4c\u6e08\u6210\u9577\u3092\u751f\u307f\u51fa\u3057\u3001\u7c73\u56fd\u653f\u5e9c\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u3092\u53d6\u308a\u9664\u304f\u3053\u3068\u304c\u3067\u304d\u308c\u3070\u3001\u91d1\u5229\u306f\u81ea\u7136\u306b\u4e0b\u304c\u3063\u3066\u3086\u304f\u306f\u305a\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u50b5\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u3068\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u306e\u554f\u984c\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u306b\u3088\u308a\u7c73\u56fd\u50b5\u306b\u591a\u984d\u306e\u5229\u6255\u3044\u304c\u767a\u751f\u3057\u3066\u304a\u308a\u3001\u305d\u306e\u898f\u6a21\u306fGDP\u306e4%\u306b\u9054\u3057\u3064\u3064\u3042\u308b\u3002\u8ca1\u653f\u8d64\u5b57\u304cGDP\u306e7%\u307b\u3069\u306a\u306e\u3067\u3001\u305d\u306e\u534a\u5206\u304c\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u3060\u3068\u3044\u3046\u3053\u3068\u306b\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 class=\"wp-block-paragraph\">4\u6708\u306e\u682a\u5b89\u6642\u306b\u7c73\u56fd\u50b5\u304c\u540c\u6642\u4e0b\u843d\u3057\u305f\u80cc\u666f\u306b\u306f\u3053\u3046\u3044\u3046\u72b6\u6cc1\u304c\u3042\u308b\u3002\u8457\u540d\u6295\u8cc7\u5bb6\u306e\u8ab0\u3082\u304c\u7c73\u56fd\u50b5\u306e\u4e0b\u843d\u30ea\u30b9\u30af\u3092\u5fc3\u914d\u3057\u3066\u3044\u308b\u3002\u305d\u308c\u306f\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u3082\u540c\u3058\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304b\u3089\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ca1\u653f\u8d64\u5b57\u306e\u554f\u984c\u3092\u89e3\u6c7a\u3057\u3088\u3046\u3068\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 class=\"wp-block-paragraph\">\u307e\u305a\u653f\u5e9c\u306e\u501f\u5165\u3092\u5c11\u3057\u305a\u3064\u6e1b\u3089\u3057\u3066\u3086\u304f\u3002\u8ca1\u653f\u8d64\u5b57\u3092\u6bce\u5e741%\u305a\u3064\u6e1b\u3089\u3057\u3066\u3044\u3051\u3070\u3001\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u304c\u9000\u4efb\u3059\u308b\u9803\u306b\u306f\u8ca1\u653f\u8d64\u5b57\u306f\u9577\u671f\u7684\u306a\u5e73\u5747\u3067\u3042\u308bGDP\u306e3.5%\u306b\u623b\u308a\u3001\u5206\u6bcd\u304c\u5206\u5b50\u3088\u308a\u901f\u304f\u5927\u304d\u304f\u306a\u308b\u306e\u3067\u3001GDP\u6bd4\u3067\u653f\u5e9c\u50b5\u52d9\u306f\u6e1b\u3063\u3066\u3086\u304f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">\u50b5\u52d9\u306fGDP\u306e\u4f55\u30d1\u30fc\u30bb\u30f3\u30c8\u304b\u3067\u8a08\u3089\u308c\u308b\u306e\u3067\u3001\u653f\u5e9c\u50b5\u52d9\u306e\u5897\u52a0\u7387\u304c3%\u307b\u3069\u3067\u3001GDP\u6210\u9577\u7387\u304c\u540c\u3058\u304f\u3089\u3044\u306b\u4fdd\u305f\u308c\u308b\u306a\u3089\u3001GDP\u6bd4\u306e\u653f\u5e9c\u50b5\u52d9\u306f\u5897\u3048\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306b\u3068\u3063\u3066\u306e\u554f\u984c\u306f\u3001\u5e02\u5834\u306f\u305d\u3046\u601d\u3063\u3066\u3044\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u682a\u5b89\u306e\u6700\u4e2d\u306b\u6025\u4e0a\u6607\u3057\u305f\u30a2\u30e1\u30ea\u30ab\u306e\u9577\u671f\u91d1\u5229\u306f\u3001\u682a\u4fa1\u306e\u53cd\u767a\u5f8c\u3082\u7d50\u5c40\u4e0a\u304c\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\/05\/2024-5-15-us-10-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"543\" height=\"500\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/05\/2024-5-15-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-65334\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/05\/2024-5-15-us-10-year-treasury-bond-yield-chart.png 543w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/05\/2024-5-15-us-10-year-treasury-bond-yield-chart-300x276.png 300w\" sizes=\"auto, (max-width: 543px) 100vw, 543px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u3082\u3046\u4e00\u5ea6\u8a00\u3046\u304c\u3001\u7c73\u56fd\u682a\u3068\u7c73\u56fd\u50b5\u306e\u540c\u6642\u4e0b\u843d\u306f\u904e\u53bb100\u5e74\u307b\u3069\u30672\u56de\u3057\u304b\u306a\u304b\u3063\u305f\u30021929\u5e74\u304b\u3089\u306e\u4e16\u754c\u6050\u614c\u30681970\u5e74\u4ee3\u306e\u7269\u4fa1\u9ad8\u9a30\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u305d\u306e\u5f8c\u7c73\u56fd\u682a\u306f\u9577\u671f\u306e\u4e0b\u3052\u76f8\u5834\u306b\u7a81\u5165\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\/64013\" data-type=\"post\" data-id=\"64013\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u7c73\u56fd\u682a\u306f\u904e\u53bb\u306b2\u56de\u300125\u5e74\u9593\u682a\u4fa1\u304c\u4e0a\u304c\u3089\u306a\u304b\u3063\u305f\u4e0b\u843d\u76f8\u5834\u3092\u7d4c\u9a13\u3057\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u6295\u8cc7\u5bb6\u306f\u5c11\u306a\u304f\u3068\u3082\u4e16\u754c\u6050\u614c\u524d\u5f8c\u306e\u7d4c\u6e08\u3084\u682a\u4fa1\u306b\u3064\u3044\u3066\u3001\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306e\u300e<a href=\"https:\/\/amzn.to\/3IWOGjY\" data-type=\"link\" data-id=\"https:\/\/amzn.to\/3IWOGjY\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">\u5de8\u5927\u50b5\u52d9\u5371\u6a5f\u3092\u7406\u89e3\u3059\u308b<\/a>\u300f\u306b\u304a\u3051\u308b\u89e3\u8aac\u3067\u52c9\u5f37\u3057\u3066\u304a\u304f\u3079\u304d\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b46\u8005\u304c\u6295\u8cc7\u5bb6\u3068\u3057\u3066\u3069\u3046\u3057\u3066\u3044\u308b\u304b\u306f\u3001\u4ee5\u4e0b\u306e\u8a18\u4e8b\u306b\u66f8\u3044\u3066\u304a\u3044\u305f\u3002\u4f55\u306e\u554f\u984c\u3082\u306a\u3044\u76f8\u5834\u3060\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/65052\" data-type=\"post\" data-id=\"65052\">\u682a\u5f0f\u5e02\u5834\u306e\u63a8\u79fb\u4e88\u60f3\u3001\u53cd\u767a\u3057\u3066\u3044\u308b\u7c73\u56fd\u682a\u306f\u9060\u304b\u3089\u305a\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u3066\u8105\u3055\u308c\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<a href=\"https:\/\/amzn.to\/43IM42P\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/m.media-amazon.com\/images\/I\/71Mod5dZK9L._SL160_.jpg\"><\/a><br><a href=\"https:\/\/amzn.to\/43IM42P\" target=\"_blank\" rel=\"noreferrer noopener\">\u5de8\u5927\u50b5\u52d9\u5371\u6a5f\u3092\u7406\u89e3\u3059\u308b<\/a>\n","protected":false},"excerpt":{"rendered":"<p>\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u8ca1\u52d9\u9577\u5b98\u3067\u3042\u308a\u3001\u304b\u3064\u3066\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306eSoros Fund Management\u3092\u904b\u7528\u3057\u305f\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3067\u3082\u3042\u308b\u30b9\u30b3\u30c3\u30c8\u30fb\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u304cMilken Institute\u306b\u304a\u3051\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/65290\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u3001\u7c73\u56fd\u306e\u91d1\u5229\u304c\u4e0b\u304c\u308b\u3068\u4e88\u60f3\u3059\u308b\u7406\u7531\u3092\u8aac\u660e\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":[118,108],"tags":[203],"class_list":["post-65290","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets","tag-scott-bessent"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/65290","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=65290"}],"version-history":[{"count":50,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/65290\/revisions"}],"predecessor-version":[{"id":65342,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/65290\/revisions\/65342"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=65290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=65290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=65290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}