{"id":66536,"date":"2025-06-12T20:00:00","date_gmt":"2025-06-12T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=66536"},"modified":"2025-06-12T16:50:14","modified_gmt":"2025-06-12T07:50:14","slug":"%e3%83%81%e3%83%a5%e3%83%bc%e3%83%80%e3%83%bc%e3%83%bb%e3%82%b8%e3%83%a7%e3%83%bc%e3%83%b3%e3%82%ba%e6%b0%8f-%e3%83%91%e3%82%a6%e3%82%a8%e3%83%ab%e8%ad%b0%e9%95%b7%e9%80%80%e4%bb%bb%e3%81%a7%e3%82%a2","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/66536","title":{"rendered":"\u30c1\u30e5\u30fc\u30c0\u30fc\u30fb\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f: \u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u9000\u4efb\u3067\u30a2\u30e1\u30ea\u30ab\u306f\u65e5\u672c\u306e\u3088\u3046\u306a\u91d1\u878d\u7de9\u548c\u3078"},"content":{"rendered":"\n<p>1987\u5e74\u306e\u30d6\u30e9\u30c3\u30af\u30de\u30f3\u30c7\u30fc\u3092\u4e88\u60f3\u3057\u305f\u3053\u3068\u3067\u6709\u540d\u306a\u30dd\u30fc\u30eb\u30fb\u30c1\u30e5\u30fc\u30c0\u30fc\u30fb\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f\u304c\u3001Bloomberg\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u5229\u4e0b\u3052\u4e88\u60f3\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u878d\u653f\u7b56<\/strong><\/p>\n\n\n\n<p>\u95a2\u7a0e\u653f\u7b56\u306a\u3069\u306e\u304a\u9670\u3067\u3001\u91d1\u878d\u5e02\u5834\u3067\u306f\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u3053\u3068\u3070\u304b\u308a\u304c\u6ce8\u76ee\u3055\u308c\u3066\u3044\u308b\u3002\u3057\u304b\u3057\u672c\u6765\u91d1\u878d\u5e02\u5834\u306b\u3082\u3063\u3068\u5927\u304d\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u3082\u306e\u304c\u3042\u308b\u3002\u4e2d\u592e\u9280\u884c\u306e\u91d1\u878d\u653f\u7b56\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u7b56\u91d1\u5229\u306f\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u306e\u304b\uff1f\u3000\u653f\u7b56\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\/06\/2025-6-12-federal-funds-rate-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"513\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-12-federal-funds-rate-chart.png\" alt=\"\" class=\"wp-image-66541\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-12-federal-funds-rate-chart.png 600w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-12-federal-funds-rate-chart-300x257.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/figure>\n\n\n\n<p>Fed\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u30b3\u30ed\u30ca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u3067\u5927\u5e45\u306a\u5229\u4e0a\u3052\u3092\u3057\u305f\u5f8c\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4e0b\u304c\u308a\u59cb\u3081\u305f\u3053\u3068\u3067\u3084\u3084\u5229\u4e0b\u3052\u3057\u305f\u304c\u3001\u305d\u306e\u5f8c\u91d1\u5229\u3092\u7dad\u6301\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u653f\u7b56\u91d1\u5229\u304c\u52d5\u3044\u3066\u3044\u306a\u3044\u306e\u3067\u3001\u91d1\u878d\u5e02\u5834\u3082\u4eca\u306e\u3068\u3053\u308dFed\u306e\u52d5\u304d\u3092\u6c17\u306b\u3057\u3066\u3044\u306a\u3044\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u306e\u5229\u4e0b\u3052\u518d\u958b<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f\u306f\u305d\u308c\u304c\u3082\u3046\u3059\u3050\u5909\u308f\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f\u306f\u3001\u4eca\u306e\u91d1\u878d\u5e02\u5834\u3067\u6295\u8cc7\u5bb6\u3068\u3057\u3066\u4f55\u306b\u8ced\u3051\u308b\u304b\u3068\u805e\u304b\u308c\u3001\u5c11\u3057\u8003\u3048\u305f\u4e0a\u3067\u6b21\u306e\u3088\u3046\u306b\u7b54\u3048\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>\u77ed\u671f\u91d1\u5229\u304c\u5927\u5e45\u306b\u4e0b\u304c\u308b\u3053\u3068\u306b\u8ced\u3051\u308b\u3060\u308d\u3046\u30026\u30f6\u6708\u4ee5\u5185\u306b\u306f\u65b0\u305f\u306aFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u8b70\u9577\u304c\u5206\u304b\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u7b56\u91d1\u5229\u306f5.25%\u304b\u30894.25%\u307e\u30671%\u5229\u4e0b\u3052\u3055\u308c\u305f\u5f8c\u3001\u6a2a\u3070\u3044\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30dd\u30a4\u30f3\u30c8\u306f\u3001\u73fe\u5728\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306e\u4efb\u671f\u304c\u6765\u5e745\u6708\u306b\u7d42\u308f\u308b\u3053\u3068\u3067\u3042\u308b\u3002\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306f\u30d1\u30a6\u30a8\u30eb\u6c0f\u3092\u518d\u4efb\u3057\u306a\u3044\u7acb\u5834\u3092\u306f\u3063\u304d\u308a\u3055\u305b\u3066\u304a\u308a\u3001\u65b0\u305f\u306a\u8b70\u9577\u306f\u4eca\u5e74\u306e\u5f8c\u534a\u306b\u306f\u767a\u8868\u3055\u308c\u308b\u3082\u306e\u3068\u601d\u308f\u308c\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u65b0\u8b70\u9577\u306b\u3064\u3044\u3066\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u4e88\u60f3\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>\u30c8\u30e9\u30f3\u30d7\u6c0f\u306f\u6975\u3081\u3066\u30cf\u30c8\u6d3e\u306a\u8ab0\u304b\u3092\u9078\u3076\u3068\u601d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u304c\u91d1\u878d\u7de9\u548c\u306b\u7a4d\u6975\u7684\u306a\u8ab0\u304b\u3092\u8b70\u9577\u306b\u9078\u3073\u3001\u5229\u4e0b\u3052\u304c\u518d\u958b\u3055\u308c\u308b\u3068\u3044\u3046\u8aad\u307f\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u5371\u6a5f<\/strong><\/p>\n\n\n\n<p>\u4f55\u6545\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f\u306f\u305d\u306e\u3088\u3046\u306b\u4e88\u60f3\u3057\u3066\u3044\u308b\u306e\u304b\u3002\u305d\u306e\u7406\u7531\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u306e\u554f\u984c\u3067\u3042\u308b\u3002\u30b8\u30e7\u30fc\u30f3\u30ba\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>\u30a2\u30e1\u30ea\u30ab\u306f\u8ca1\u52d9\u554f\u984c\u3092\u62b1\u3048\u3066\u3044\u308b\u3002\u8ca1\u653f\u8d64\u5b57\u306fGDP\u306e6%\u4ee5\u4e0a\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u8ca1\u653f\u8d64\u5b57\u306f\u30d0\u30a4\u30c7\u30f3\u653f\u6a29\u306e\u907a\u7523\u3067\u306f\u3042\u308b\u306e\u3060\u304c\u3001\u8d64\u5b57\u306e\u5927\u304d\u306a\u539f\u56e0\u306e1\u3064\u306f\u3001\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u3067\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u304c\u6025\u5897\u3057\u3066\u3044\u308b\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u8a73\u3057\u3044\u72b6\u6cc1\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u89e3\u8aac\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\/66406\" data-type=\"post\" data-id=\"66406\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306e\u65b0\u8457\u3001\u7c73\u56fd\u50b5\u306e\u66b4\u843d\u304c\u3069\u308c\u3060\u3051\u907f\u3051\u3089\u308c\u306a\u3044\u304b\u3092\u8a08\u7b97\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u4eca\u3084\u8ca1\u653f\u8d64\u5b57\u306e\u534a\u5206\u306f\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u3068\u306a\u3063\u3066\u304a\u308a\u3001\u8ca1\u653f\u8d64\u5b57\u3092\u65b0\u898f\u306e\u56fd\u50b5\u767a\u884c\u3067\u8cc4\u3048\u3070\u8cc4\u3046\u307b\u3069\u56fd\u50b5\u304c\u5897\u3048\u3001\u3057\u305f\u304c\u3063\u3066\u5229\u6255\u3044\u304c\u5897\u3048\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<p>\u8d64\u5b57\u304c\u306d\u305a\u307f\u7b97\u5f0f\u306b\u5897\u3048\u3066\u3086\u304f\u72b6\u6cc1\u3067\u3001\u7c73\u56fd\u653f\u5e9c\u306f\u3069\u3046\u3059\u308b\u304b\u3002\u30b8\u30e7\u30fc\u30f3\u30ba\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>\u308f\u305f\u3057\u304c\u5927\u7d71\u9818\u306a\u3089\u3001\u4e00\u756a\u306e\u89e3\u6c7a\u7b56\u306f\u53ef\u80fd\u306a\u9650\u308a\u30cf\u30c8\u6d3e\u306eFed\u8b70\u9577\u3092\u9078\u3073\u3001\u56fd\u50b5\u306e\u5229\u6255\u3044\u3092\u6e1b\u3089\u3059\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u304cGDP\u306e100%\u306e\u653f\u5e9c\u50b5\u52d9\u3092\u62b1\u3048\u3066\u3044\u308b\u6642\u306e\u3084\u308a\u65b9\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u5229\u4e0b\u3052\u306b\u3088\u308b\u30c9\u30eb\u4e0b\u843d<\/strong><\/p>\n\n\n\n<p>\u5229\u6255\u3044\u304c\u591a\u3044\u5834\u5408\u3001\u653f\u5e9c\u306f\u3069\u3046\u3059\u308b\u304b\uff1f\u3000\u7c21\u5358\u3067\u3042\u308b\u3002\u5229\u4e0b\u3052\u304b\u91cf\u7684\u7de9\u548c\u3067\u91d1\u5229\u3092\u4e0b\u3052\u308c\u3070\u826f\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u306e\u305f\u3081\u306b\u72a0\u7272\u306b\u306a\u308b\u3082\u306e\u304c\u3042\u308b\u3002\u30c9\u30eb\u3067\u3042\u308b\u3002\u91d1\u878d\u7de9\u548c\u3092\u3059\u308c\u3070\u30c9\u30eb\u306f\u4e0b\u843d\u3057\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/65973\" data-type=\"post\" data-id=\"65973\">\u30cd\u30a4\u30d4\u30a2\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306e\u8cbf\u6613\u8d64\u5b57\u89e3\u6c7a\u306b\u306f\u30c9\u30eb\u4e0b\u843d\u306f\u907f\u3051\u3089\u308c\u306a\u3044<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3053\u3046\u3044\u3046\u8a71\u984c\u3067\u5e38\u306b\u5f15\u304d\u5408\u3044\u306b\u51fa\u3055\u308c\u308b\u306e\u304c\u3042\u306e\u56fd\u3067\u3042\u308b\u3002\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u7d9a\u3051\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>\u65e5\u672c\u3067\u306f\u3082\u3046\u305d\u308c\u304c\u8d77\u3053\u3063\u3066\u3044\u308b\u3002\u30a4\u30f3\u30d5\u30ec\u7387\u306f2%\u304b3%\u3067\u3042\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u690d\u7530\u7dcf\u88c1\u306f0.5%\u3088\u308a\u5927\u5e45\u306a\u5229\u4e0a\u3052\u306f\u3084\u308a\u305f\u304c\u3089\u306a\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u65e5\u672c\u653f\u5e9c\u306f\u3044\u3064\u3082\u30a4\u30f3\u30d5\u30ec\u306e\u6570\u5b57\u3082\u8aa4\u9b54\u5316\u3057\u3066\u3044\u308b\u3060\u308d\u3046\u304c\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u65e5\u672c\u306f\u30a2\u30e1\u30ea\u30ab\u3088\u308a\u3082\u66f4\u306b\u653f\u5e9c\u50b5\u52d9\u304c\u591a\u3044\u306e\u3067\u3001\u91d1\u5229\u304c\u4e0a\u304c\u308b\u3068\u5229\u6255\u3044\u304c\u30a2\u30e1\u30ea\u30ab\u3088\u308a\u3082\u9177\u3044\u3053\u3068\u306b\u306a\u308a\u304b\u306d\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u690d\u7530\u7dcf\u88c1\u306f\u9ed2\u7530\u524d\u7dcf\u88c1\u304c\u5f15\u304d\u8d77\u3053\u3057\u305f\u3053\u306e\u72b6\u6cc1\u306e\u5f8c\u59cb\u672b\u3092\u3059\u308b\u305f\u3081\u306b\u5c31\u4efb\u3057\u305f\u306e\u3060\u304c\u3001\u6025\u6fc0\u306a\u5229\u4e0a\u3052\u3082\u3067\u304d\u305a\u3001\u7d50\u5c40\u5186\u5b89\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u5186\u5b89\u306f\u7d50\u5c40\u3001\u8f38\u5165\u7269\u4fa1\u306e\u4e0a\u6607\u3060\u3051\u3067\u306f\u306a\u304f\u3001\u30c8\u30e9\u30af\u30bf\u30fc\u306a\u3069\u306e\u71c3\u6599\u4ee3\u3092\u901a\u3057\u3066\u30b3\u30e1\u306e\u4fa1\u683c\u4e0a\u6607\u306b\u3082\u5bc4\u4e0e\u3057\u3066\u304a\u308a\u3001\u65e5\u672c\u56fd\u6c11\u306e\u751f\u6d3b\u3092\u5727\u8feb\u3059\u308b\u7d50\u679c\u3068\u306a\u3063\u3066\u3044\u308b\u3002\u5186\u5b89\u306f\u70ba\u66ff\u30ec\u30fc\u30c8\u3060\u3051\u306e\u554f\u984c\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>Bridgewater\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306f\u3001\u65e5\u672c\u306e\u3053\u306e\u72b6\u6cc1\u3092\u653f\u5e9c\u50b5\u52d9\u306e\u5bfe\u51e6\u306b\u5931\u6557\u3057\u305f\u7d50\u679c\u3060\u3068\u8a00\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\/66448\" data-type=\"post\" data-id=\"66448\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306e\u65b0\u8457\u3001\u65e5\u672c\u7d4c\u6e08\u3092\u653f\u5e9c\u50b5\u52d9\u306e\u5bfe\u51e6\u306b\u5931\u6557\u3057\u305f\u5834\u5408\u306e\u4e8b\u4f8b\u3068\u3057\u3066\u63b2\u8f09<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u5229\u4e0b\u3052\u3068\u30c9\u30eb\u5b89<\/strong><\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u3082\u305d\u3046\u306a\u308b\u306e\u3060\u308d\u3046\u304b\u3002\u5c11\u306a\u304f\u3068\u3082\u3001\u91d1\u878d\u5e02\u5834\u306f\u3042\u308b\u7a0b\u5ea6\u306e\u5229\u4e0b\u3052\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002\u91d1\u5229\u5148\u7269\u5e02\u5834\u3067\u306f\u5e74\u672b\u307e\u3067\u306b2\u56de\u3001\u3064\u307e\u308a0.5%\u306e\u5229\u4e0b\u3052\u304c\u884c\u308f\u308c\u308b\u3053\u3068\u3092\u7e54\u308a\u8fbc\u3093\u3067\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f\u306f\u300c\u5927\u5e45\u306a\u300d\u5229\u4e0b\u3052\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3053\u3068\u304b\u3089\u3001\u7d50\u5c40Fed\u306f\u305d\u308c\u4ee5\u4e0a\u5229\u4e0b\u3052\u3092\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u306e\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u30b8\u30e7\u30fc\u30f3\u30ba\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>\u6b74\u53f2\u3092\u632f\u308a\u8fd4\u308c\u3070\u3001\u305d\u308c\u304c\u50b5\u52d9\u554f\u984c\u306b\u9665\u3063\u305f\u3068\u304d\u306e\u8131\u51fa\u65b9\u6cd5\u3060\u3002\u5b9f\u8cea\u91d1\u5229\u3092\u53ef\u80fd\u306a\u9650\u308a\u4e0b\u3052\u3001\u5229\u6255\u3044\u3092\u6e1b\u3089\u3059\u3002\u65b0\u305f\u306aFed\u8b70\u9577\u304c\u6c7a\u307e\u308c\u3070\u30a2\u30e1\u30ea\u30ab\u3082\u305d\u3046\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u6b74\u53f2\u3068\u8a00\u3048\u3070\u3084\u306f\u308a\u30c0\u30ea\u30aa\u6c0f\u3060\u308d\u3046\u3002\u30c0\u30ea\u30aa\u6c0f\u306f\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\u3067\u3001\u6b74\u53f2\u4e0a\u306e\u3042\u3089\u3086\u308b\u56fd\u304c\u7d50\u5c40\u306f\u3053\u306e\u65b9\u6cd5\u3067\u50b5\u52d9\u554f\u984c\u3092\u300c\u89e3\u6c7a\u300d\u3057\u3066\u304d\u305f\u3053\u3068\u3092\u89e3\u8aac\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u5229\u4e0b\u3052\u3067\u9577\u671f\u91d1\u5229\u306f\u4e0b\u304c\u308b\u306e\u304b<\/strong><\/p>\n\n\n\n<p>\u3060\u304c1\u3064\u554f\u984c\u304c\u3042\u308b\u3002\u53bb\u5e74\u306e\u5229\u4e0b\u3052\u306e\u5f8c\u3001\u9577\u671f\u91d1\u5229\u306f\u5b9f\u306f\u4e0a\u304c\u3063\u3066\u3044\u308b\u3002\u91d1\u878d\u5e02\u5834\u304c\u30a4\u30f3\u30d5\u30ec\u518d\u71c3\u3068\u7c73\u56fd\u50b5\u306e\u7834\u7dbb\u3092\u5371\u60e7\u3057\u305f\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306f4\u6708\u306b\u7c73\u56fd\u682a\u3068\u7c73\u56fd\u50b5\u3068\u30c9\u30eb\u304c\u3059\u3079\u3066\u540c\u6642\u306b\u4e0b\u843d\u3057\u305f\u306e\u3068\u540c\u69d8\u306e\u5371\u6a5f\u7684\u72b6\u6cc1\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u878d\u5e02\u5834\u306f\u9014\u4e0a\u56fd\u306e\u3082\u306e\u306b\u672c\u5f53\u306b\u8fd1\u3065\u3044\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63976\" data-type=\"post\" data-id=\"63976\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u4eca\u5f8c\u6570\u30f6\u6708\u3067\u7c73\u56fd\u306f\u30c9\u30eb\u3068\u7c73\u56fd\u682a\u3068\u7c73\u56fd\u50b5\u304c\u3059\u3079\u3066\u4e0b\u843d\u3059\u308b\u767a\u5c55\u9014\u4e0a\u56fd\u578b\u306e\u91d1\u878d\u5371\u6a5f\u306b\u9665\u308b\u53ef\u80fd\u6027<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304b\u3089\u3001\u30a2\u30e1\u30ea\u30ab\u304c\u9577\u671f\u56fd\u50b5\u306e\u91d1\u5229\u307e\u3067\u4e0b\u3052\u305f\u3051\u308c\u3070\u3001\u5229\u4e0b\u3052\u3060\u3051\u3067\u306f\u306a\u304f\u91cf\u7684\u7de9\u548c\u3084\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3092\u884c\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u306e\u3067\u306f\u306a\u3044\u304b\u3002\u305d\u3057\u3066\u3001\u305d\u308c\u3053\u305d\u304c\u65e5\u672c\u3067\u65e5\u672c\u5186\u306e\u4fa1\u5024\u3092\u5d29\u58ca\u3055\u305b\u305f\u653f\u7b56\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\/64894\" data-type=\"post\" data-id=\"64894\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u7c73\u56fd\u50b5\u66b4\u843d\u3067\u30a2\u30e1\u30ea\u30ab\u3082\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u5c0e\u5165\u306e\u53ef\u80fd\u6027<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u3067\u540c\u3058\u72b6\u6cc1\u304c\u518d\u73fe\u3055\u308c\u3088\u3046\u3068\u3057\u3066\u3044\u308b\u306e\u3067\u306f\u306a\u3044\u304b\u3002\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\u306b\u304a\u3051\u308b\u6b74\u53f2\u7814\u7a76\u3092\u8aad\u3081\u3070\u5206\u304b\u308b\u304c\u3001\u6b74\u53f2\u7684\u306b\u306f\u7d50\u5c40\u3044\u3064\u3082\u305d\u3046\u306a\u3063\u3066\u304d\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u6b74\u53f2\u3092\u77e5\u3089\u306a\u3044\u4eba\u3060\u3051\u304c\u3001\u653f\u5e9c\u50b5\u52d9\u306f\u4f55\u3068\u304b\u306a\u308b\u3068\u601d\u3044\u8fbc\u3093\u3067\u3044\u308b\u3002\u6b74\u53f2\u4e0a\u3001\u4f55\u3068\u304b\u306a\u3063\u305f\u4f8b\u30921\u3064\u3067\u3082\u6319\u3052\u3089\u308c\u308b\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<p><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><\/p>\n","protected":false},"excerpt":{"rendered":"<p>1987\u5e74\u306e\u30d6\u30e9\u30c3\u30af\u30de\u30f3\u30c7\u30fc\u3092\u4e88\u60f3\u3057\u305f\u3053\u3068\u3067\u6709\u540d\u306a\u30dd\u30fc\u30eb\u30fb\u30c1\u30e5\u30fc\u30c0\u30fc\u30fb\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f\u304c\u3001Bloomberg\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u5229\u4e0b\u3052\u4e88\u60f3\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[118,120,19,108],"tags":[159],"class_list":["post-66536","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-usdjpy","category-foreign-exchange-market","category-bond-markets","tag-paul-tudor-jones"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/66536","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=66536"}],"version-history":[{"count":31,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/66536\/revisions"}],"predecessor-version":[{"id":66568,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/66536\/revisions\/66568"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=66536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=66536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=66536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}