{"id":66798,"date":"2025-06-21T20:00:00","date_gmt":"2025-06-21T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=66798"},"modified":"2025-06-21T12:41:13","modified_gmt":"2025-06-21T03:41:13","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e7%b1%b3%e5%9b%bd%e6%a0%aa%e3%81%ae%e3%83%90%e3%83%96%e3%83%ab%e3%81%af%e3%82%82%e3%81%86%e7%b5%82%e3%82%8f%e3%81%a3%e3%81%a6%e3%81%84","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/66798","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u7c73\u56fd\u682a\u306e\u30d0\u30d6\u30eb\u306f\u3082\u3046\u7d42\u308f\u3063\u3066\u3044\u308b\u3001\u682a\u4fa1\u3068\u30c9\u30eb\u306e\u4f4e\u8ff7\u3067\u4e8c\u91cd\u306e\u6557\u5317\u3078"},"content":{"rendered":"\n<p>\u5f15\u304d\u7d9a\u304d\u3001DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u81ea\u793e\u914d\u4fe1\u52d5\u753b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4eca\u56de\u306f\u682a\u4fa1\u306e\u898b\u901a\u3057\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u90e8\u5206\u3092\u53d6\u308a\u4e0a\u3052\u305f\u3044\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30c9\u30eb\u8cc7\u7523\u304b\u3089\u306e\u8cc7\u91d1\u9003\u907f<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3053\u308c\u307e\u3067\u306e\u8a18\u4e8b\u3067\u3001\u7c73\u56fd\u50b5\u3068\u30c9\u30eb\u306b\u30cd\u30ac\u30c6\u30a3\u30d6\u306a\u898b\u65b9\u3092\u793a\u3057\u305f\u4e00\u65b9\u3067\u3001\u30b4\u30fc\u30eb\u30c9\u306b\u5f37\u6c17\u306a\u4e88\u60f3\u3092\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\/66708\" data-type=\"post\" data-id=\"66708\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u4e2d\u592e\u9280\u884c\u306b\u8cb7\u308f\u308c\u308b\u30b4\u30fc\u30eb\u30c9\u3001\u6368\u3066\u3089\u308c\u308b\u30c9\u30eb\u3068\u7c73\u56fd\u50b5<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u306e\u7406\u7531\u306f\u3001\u30c9\u30eb\u5efa\u3066\u8cc7\u7523\u304b\u3089\u306e\u8cc7\u91d1\u9003\u907f\u3067\u3042\u308b\u3002\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u3067\u8ca1\u653f\u8d64\u5b57\u306e\u534a\u5206\u304c\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u3068\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u6226\u4e89\u5f8c\u306e\u30c9\u30eb\u3092\u4f7f\u3063\u305f\u7d4c\u6e08\u5236\u88c1\u3067\u3001\u4e2d\u6771\u8af8\u56fd\u3084BRICS\u8af8\u56fd\u304c\u30c9\u30eb\u8cc7\u7523\u304b\u3089\u9003\u907f\u3057\u3066\u3044\u308b\u3053\u3068\u304c\u30c9\u30eb\u3068\u7c73\u56fd\u50b5\u304b\u3089\u6295\u8cc7\u5bb6\u3092\u6d41\u51fa\u3055\u305b\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63962\" data-type=\"post\" data-id=\"63962\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u304c\u50b5\u52d9\u554f\u984c\u3067\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u3092\u505c\u6b62\u3059\u308b\u53ef\u80fd\u6027<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/44262\" data-type=\"post\" data-id=\"44262\">\u30d7\u30fc\u30c1\u30f3\u5927\u7d71\u9818: \u30c9\u30eb\u3092\u4f7f\u3063\u305f\u7d4c\u6e08\u5236\u88c1\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u81ea\u6bba\u884c\u70ba<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u3057\u3066\u305d\u306e\u4ee3\u308f\u308a\u306b\u8cc7\u91d1\u304c\u6d41\u5165\u3057\u3066\u3044\u308b\u306e\u304c\u30b4\u30fc\u30eb\u30c9\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63905\" data-type=\"post\" data-id=\"63905\">\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f: \u30c9\u30eb\u304b\u3089\u306e\u8cc7\u91d1\u9003\u907f\u3067\u4e0a\u6607\u3057\u305f\u30b4\u30fc\u30eb\u30c9\u306f\u3082\u3046\u4e8c\u5ea6\u3068\u4e0b\u843d\u3057\u306a\u3044\u3001\u30b7\u30eb\u30d0\u30fc\u306f\u3053\u308c\u304b\u3089\u66b4\u9a30\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>2025\u5e74\u306e\u682a\u5f0f\u5e02\u5834<\/strong><\/p>\n\n\n\n<p>\u305d\u3057\u3066\u30c9\u30eb\u8cc7\u7523\u304b\u3089\u306e\u8cc7\u91d1\u6d41\u51fa\u3068\u3044\u3046\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u30b7\u30ca\u30ea\u30aa\u306f\u3001\u7c73\u56fd\u682a\u306b\u3082\u9069\u7528\u3055\u308c\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u4eca\u5e74\u4e00\u756a\u306e\u30c8\u30ec\u30fc\u30c9\u306f\u3001\u7c73\u56fd\u682a\u3092\u907f\u3051\u3066\u4ed6\u306e\u56fd\u306e\u682a\u5f0f\u3092\u4fdd\u6709\u3059\u308b\u3053\u3068\u3060\u3002\u305d\u3057\u3066\u305d\u308c\u306f\u3053\u308c\u307e\u3067\u6a5f\u80fd\u3057\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u591a\u304f\u306e\u4eba\u306f\u3001\u4eca\u5e74\u306e\u682a\u5f0f\u5e02\u5834\u306f4\u6708\u306b\u4e0b\u304c\u3063\u3066\u304b\u3089\u53cd\u767a\u3057\u3001\u682a\u4fa1\u306f\u3042\u307e\u308a\u5909\u308f\u3063\u3066\u3044\u306a\u3044\u3068\u601d\u3063\u3066\u3044\u308b\u306e\u3067\u306f\u306a\u3044\u304b\u3002\u3057\u304b\u3057\u305d\u308c\u306f\u7c73\u56fd\u682a\u3084\u65e5\u672c\u682a\u3060\u3051\u898b\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u307e\u305a\u7c73\u56fd\u682a\u306e\u682a\u4fa1\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\/2025-6-21-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"583\" height=\"478\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-21-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-66804\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-21-s-and-p-500-chart.png 583w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-21-s-and-p-500-chart-300x246.png 300w\" sizes=\"auto, (max-width: 583px) 100vw, 583px\" \/><\/a><\/figure>\n\n\n\n<p>\u3060\u304c\u3001\u77e5\u3063\u3066\u3044\u308b\u8aad\u8005\u3082\u3044\u308b\u3060\u308d\u3046\u304c\u3001\u305d\u308c\u306f\u7c73\u56fd\u682a\u3068\u65e5\u672c\u682a\u3060\u3051\u306e\u8a71\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u308f\u305f\u3057\u306e\u304a\u6c17\u306b\u5165\u308a\u306f\u6b27\u5dde\u682a\u3060\u304c\u3001\u660e\u3089\u304b\u306bS&amp;P 500\u3088\u308a\u3082\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u304c\u826f\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4f8b\u3048\u3070\u30c9\u30a4\u30c4\u682a\u306f\u6b21\u306e\u3088\u3046\u306b\u5e74\u59cb\u304b\u3089\u5927\u304d\u304f\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\/06\/2025-6-21-dax-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"583\" height=\"478\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-21-dax-chart.png\" alt=\"\" class=\"wp-image-66805\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-21-dax-chart.png 583w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-21-dax-chart-300x246.png 300w\" sizes=\"auto, (max-width: 583px) 100vw, 583px\" \/><\/a><\/figure>\n\n\n\n<p>\u5b9f\u306f\u3001\u4eca\u5e74\u306e\u682a\u5f0f\u5e02\u5834\u304c\u4e0d\u8abf\u3060\u3068\u3044\u3046\u3053\u3068\u306a\u306e\u3067\u306f\u306a\u304f\u3001\u5358\u306b\u7c73\u56fd\u682a\u3068\u65e5\u672c\u682a\u304c\u4ed6\u306e\u56fd\u306b\u6bd4\u3079\u3066\u7279\u5225\u60aa\u3044\u3060\u3051\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>S&amp;P 500\u306e\u4eca\u5e74\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u304c\u60aa\u3044\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u5e74\u59cb\u304b\u3089\u5c11\u3057\u4e0a\u304c\u3063\u3066\u3044\u308b\u3002\u3060\u304c\u4ed6\u306e\u56fd\u306e\u682a\u5f0f\u5e02\u5834\u306f\u3082\u3063\u3068\u4e0a\u304c\u3063\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u7c73\u56fd\u682a\u3088\u308a\u597d\u8abf\u306a\u65b0\u8208\u56fd\u5e02\u5834<\/strong><\/p>\n\n\n\n<p>\u30e8\u30fc\u30ed\u30c3\u30d1\u3060\u3051\u304c\u7279\u5225\u8abf\u5b50\u304c\u826f\u3044\u3068\u3044\u3046\u308f\u3051\u3067\u3082\u306a\u3044\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\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>\u65b0\u8208\u56fd\u306e\u682a\u5f0f\u3067\u3055\u3048\u3082S&amp;P 500\u3092\u4e0a\u56de\u3063\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4f8b\u3048\u3070\u9999\u6e2f\u682a\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\/2025-6-21-hang-seng-index-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"583\" height=\"478\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-21-hang-seng-index-chart.png\" alt=\"\" class=\"wp-image-66811\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-21-hang-seng-index-chart.png 583w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/06\/2025-6-21-hang-seng-index-chart-300x246.png 300w\" sizes=\"auto, (max-width: 583px) 100vw, 583px\" \/><\/a><\/figure>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u4e2d\u56fd\u672c\u571f\u3088\u308a\u3082\u6d77\u5916\u6295\u8cc7\u5bb6\u306e\u591a\u3044\u9999\u6e2f\u682a\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u306e\u65b9\u304c\u826f\u3044\u306e\u3060\u304c\u3001\u305d\u3053\u304b\u3089\u3082\u672c\u6765\u7c73\u56fd\u682a\u306b\u884c\u304f\u3079\u304d\u8cc7\u7523\u304c\u3053\u3046\u3044\u3046\u5834\u6240\u306b\u6d41\u308c\u3066\u304d\u3066\u3044\u308b\u3068\u3044\u3046\u306e\u304c\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<p><strong>\u7c73\u56fd\u682a\u306f\u30c9\u30eb\u5b89\u3067\u4e8c\u91cd\u306e\u640d\u5931\u3078<\/strong><\/p>\n\n\n\n<p>\u4f55\u6545\u3053\u3046\u306a\u3063\u3066\u3044\u308b\u306e\u304b\u3002\u7c73\u56fd\u682a\u306f\u4e16\u754c\u6700\u5f37\u3067\u306f\u306a\u304b\u3063\u305f\u306e\u304b\u3002\u73fe\u5728\u3001\u7c73\u56fd\u682a\u3068\u65e5\u672c\u682a\u304c\u3053\u3046\u306a\u3063\u3066\u3044\u308b\u7406\u7531\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u3084\u65e5\u672c\u306f\u91d1\u5229\u4e0a\u6607\u3067\u8ca1\u653f\u304c\u5371\u3046\u304f\u306a\u3063\u3066\u3044\u308b\u56fd\u3060\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u7c73\u56fd\u682a\u3084\u65e5\u672c\u682a\u4ee5\u5916\u306a\u3089\u4f55\u3067\u3082\u826f\u3044\u3068\u3044\u3046\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u4f8b\u3048\u3070\u30e8\u30fc\u30ed\u30c3\u30d1\u306b\u3082\u8ca1\u653f\u304c\u5371\u3046\u3044\u56fd\u304c\u3044\u304f\u3064\u3082\u3042\u308b\u3002\u3060\u304c\u30c9\u30a4\u30c4\u306f\u4ed6\u306e\u5148\u9032\u56fd\u306b\u6bd4\u3079\u308b\u3068\u8ca1\u653f\u72b6\u6cc1\u304c\u6bd4\u8f03\u7684\u826f\u3044\u3002<\/p>\n\n\n\n<p>\u7d50\u5c40\u3001\u653f\u5e9c\u50b5\u52d9\u306e\u591a\u3044\u56fd\u3067\u91d1\u5229\u4e0a\u6607\u304c\u8d77\u3053\u308b\u3068\u3001\u8ca1\u653f\u8d64\u5b57\u306e\u5927\u534a\u3092\u56fd\u50b5\u306e\u5229\u6255\u3044\u304c\u5360\u3081\u308b\u3088\u3046\u306a\u72b6\u6cc1\u306b\u9665\u308a\u3001\u3053\u308c\u307e\u3067\u306e\u3088\u3046\u306a\u3070\u3089\u6492\u304d\u304c\u3067\u304d\u306a\u304f\u306a\u308b\u3002\u305d\u308c\u304c\u305d\u306e\u56fd\u306e\u682a\u4fa1\u3092\u982d\u6253\u3061\u306b\u3057\u3066\u3044\u308b\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\/66360\" data-type=\"post\" data-id=\"66360\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306e\u65b0\u8457\u3001\u30a2\u30e1\u30ea\u30ab\u304c\u8ca1\u653f\u7834\u7dbb\u3059\u308b\u30d7\u30ed\u30bb\u30b9\u3092\u4e8b\u7d30\u304b\u306b\u4e88\u60f3<\/a><\/li>\n\n\n\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>\u3060\u304b\u3089\u5358\u306b\u65e5\u672c\u4eba\u306b\u3068\u3063\u3066\u8eab\u8fd1\u306a\u65e5\u672c\u682a\u3084\u7c73\u56fd\u682a\u3092\u9078\u3076\u306e\u3067\u306f\u306a\u304f\u3001\u5404\u56fd\u306e\u8ca1\u653f\u72b6\u6cc1\u3092\u898b\u305f\u4e0a\u3067\u6295\u8cc7\u306b\u4e00\u756a\u826f\u3044\u56fd\u3092\u9078\u3076\u3079\u304d\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u3053\u306e\u8a71\u3067\u66f4\u306b\u91cd\u8981\u306a\u306e\u306f\u3001\u8ca1\u653f\u8d64\u5b57\u304c\u539f\u56e0\u3067\u682a\u4fa1\u304c\u4f4e\u8ff7\u3059\u308b\u56fd\u3067\u306f\u3001\u901a\u8ca8\u3082\u307e\u305f\u4f4e\u8ff7\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u6307\u6458\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>\u7c73\u56fd\u682a\u304c\u5f37\u304b\u3063\u305f\u6642\u4ee3\u306f\u660e\u3089\u304b\u306b\u7d42\u308f\u3063\u3066\u3044\u308b\u3088\u3046\u306b\u898b\u3048\u308b\u3002\u7c73\u56fd\u682a\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u4ed6\u306e\u56fd\u3068\u6bd4\u3079\u3066\u307f\u308c\u3070\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<p>\u30c9\u30eb\u3067\u751f\u6d3b\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u306b\u306f\u3053\u308c\u306f\u3082\u3063\u3068\u5927\u304d\u306a\u5dee\u3092\u751f\u3080\u3002\u7c73\u56fd\u4ee5\u5916\u306e\u682a\u5f0f\u3092\u73fe\u5730\u306e\u901a\u8ca8\u3067\u8cb7\u3044\u3001\u30c9\u30eb\u304c\u305d\u306e\u901a\u8ca8\u306b\u5bfe\u3057\u3066\u4e0b\u843d\u3057\u3001\u305d\u306e\u4e0a\u3067\u5916\u56fd\u682a\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u304c\u7c73\u56fd\u682a\u3092\u4e0a\u56de\u308c\u3070\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u6295\u8cc7\u5bb6\u306f\u4e8c\u91cd\u3067\u52dd\u3066\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u4eba\u3067\u3042\u308b\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3053\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u304c\u3001\u30a2\u30e1\u30ea\u30ab\u56fd\u5916\u306e\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306f\u3001\u3053\u308c\u306f\u7c73\u56fd\u682a\u3092\u70ba\u66ff\u30d8\u30c3\u30b8\u306a\u3057\u3067\u4fdd\u6709\u3059\u308c\u3070\u682a\u4fa1\u3068\u30c9\u30eb\u306e\u4e21\u65b9\u306e\u4e0b\u843d\u3067\u30c0\u30e1\u30fc\u30b8\u3092\u8ca0\u3046\u3068\u3044\u3046\u3053\u3068\u3092\u610f\u5473\u3059\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/65443\" data-type=\"post\" data-id=\"65443\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u50b5\u52d9\u5371\u6a5f\u3092\u907f\u3051\u308b\u306b\u306f\u5897\u7a0e\u304b\u30c9\u30eb\u306e\u4e0b\u843d\u306f\u907f\u3051\u3089\u308c\u306a\u3044<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u682a\u4fa1\u306e\u77ed\u671f\u7684\u306a\u52d5\u5411\u3092\u4e88\u60f3\u3059\u308b\u3053\u3068\u306f\u305d\u308c\u307b\u3069\u7c21\u5358\u306a\u3053\u3068\u3067\u306f\u306a\u3044\u304c\u3001\u9577\u671f\u7684\u306a\u52d5\u5411\u3092\u4e88\u60f3\u3059\u308b\u3053\u3068\u306f\u7c21\u5358\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u4e3b\u306b\u91d1\u5229\u3068\u653f\u5e9c\u652f\u51fa\u3067\u6c7a\u307e\u308b\u3002\u305d\u3057\u3066\u3001\u5c11\u306a\u304f\u3068\u3082\u65e5\u672c\u3084\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u3001\u91d1\u5229\u306f\u3053\u308c\u307e\u3067\u306e\u3088\u3046\u306a\u4e00\u65b9\u7684\u306a\u4f4e\u4e0b\u306f\u671b\u3081\u305a\u3001\u56fd\u50b5\u306e\u5229\u6255\u3044\u3067\u653f\u5e9c\u306b\u3088\u308b\u3070\u3089\u6492\u304d\u3082\u4e0d\u53ef\u80fd\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u7c73\u56fd\u682a\u3084\u65e5\u672c\u682a\u306e\u9577\u671f\u7684\u306a\u52d5\u5411\u306f\u4e8b\u524d\u306b\u5206\u304b\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\/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>\u3053\u308c\u3053\u305d\u304c\u3001Bridgewater\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304c\u65b0\u8457\u300e<a href=\"https:\/\/amzn.to\/4kWfty4\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">How Countries Go Broke<\/a>\u300f\uff08\u4eee\u8a33\uff1a\u306a\u305c\u56fd\u5bb6\u306f\u7834\u7dbb\u3059\u308b\u306e\u304b\uff09\u3067\u8aac\u660e\u3057\u3066\u3044\u308b\u3001\u50b5\u52d9\u904e\u591a\u3068\u306a\u3063\u305f\u5148\u9032\u56fd\u304c\u73fe\u91d1\u7d66\u4ed8\u306b\u3088\u3063\u3066\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u5f8c\u306e\u91d1\u878d\u5e02\u5834\u306e\u5f53\u7136\u306e\u63a8\u79fb\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30c0\u30ea\u30aa\u6c0f\u306b\u3088\u308c\u3070\u3001\u5927\u56fd\u306f\u3053\u306e\u3088\u3046\u306b\u8870\u9000\u3057\u3066\u3086\u304f\u3002\u307e\u3055\u306b\u4eca\u306f\u305d\u306e\u30d7\u30ed\u30bb\u30b9\u3060\u3068\u8a00\u3048\u308b\u3002\u30c0\u30ea\u30aa\u6c0f\u306e\u65b0\u8457\u306f\u65e5\u672c\u8a9e\u7248\u304c\u51fa\u3066\u3044\u306a\u3044\u304c\u3001\u82f1\u8a9e\u304c\u8aad\u3081\u308b\u4eba\u306f\u539f\u6587\u3067\u8aad\u3080\u3053\u3068\u3092\u304a\u52e7\u3081\u3059\u308b\u3002\u65e5\u672c\u3084\u30a2\u30e1\u30ea\u30ab\u304c\u3053\u308c\u304b\u3089\u3069\u3046\u306a\u308b\u304b\u304c\u66f8\u3044\u3066\u3042\u308b\u3002<\/p>\n\n\n\n<a href=\"https:\/\/amzn.to\/4kWfty4\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/m.media-amazon.com\/images\/I\/61uYp1qd3WL._SL160_.jpg\"><\/a><br><a href=\"https:\/\/amzn.to\/4kWfty4\" target=\"_blank\" rel=\"noreferrer noopener\">How Countries Go Broke<\/a>\n","protected":false},"excerpt":{"rendered":"<p>\u5f15\u304d\u7d9a\u304d\u3001DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u81ea\u793e\u914d\u4fe1\u52d5\u753b\u3067\u3042\u308b\u3002 \u4eca\u56de\u306f\u682a\u4fa1\u306e\u898b\u901a\u3057\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u90e8\u5206\u3092\u53d6\u308a\u4e0a\u3052\u305f\u3044\u3002<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59,111],"tags":[131],"class_list":["post-66798","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-stock-markets","tag-jeffrey-gundlach"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/66798","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=66798"}],"version-history":[{"count":34,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/66798\/revisions"}],"predecessor-version":[{"id":66835,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/66798\/revisions\/66835"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=66798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=66798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=66798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}