{"id":67532,"date":"2025-07-05T20:00:00","date_gmt":"2025-07-05T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=67532"},"modified":"2025-07-05T23:18:36","modified_gmt":"2025-07-05T14:18:36","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-%e7%b1%b3%e5%9b%bd%e5%82%b5%e3%81%ae%e8%b2%b7%e3%81%84%e6%89%8b%e4%b8%8d%e8%b6%b3%e3%81%ae%e5%95%8f%e9%a1%8c%e3%81%af","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/67532","title":{"rendered":"\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98: \u7c73\u56fd\u50b5\u306e\u8cb7\u3044\u624b\u4e0d\u8db3\u306e\u554f\u984c\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u9280\u884c\u304c\u56fd\u50b5\u3092\u8cb7\u3046\u304b\u3089\u554f\u984c\u306a\u3044"},"content":{"rendered":"\n<p>\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306eSoros Fund Management\u3092\u904b\u7528\u3057\u3066\u3044\u305f\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3067\u3042\u308a\u3001\u73fe\u5728\u306f\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u8ca1\u52d9\u9577\u5b98\u3067\u3042\u308b\u30b9\u30b3\u30c3\u30c8\u30fb\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u304c\u7c73\u56fd\u50b5\u3068\u8ca1\u653f\u8d64\u5b57\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\u8ca1\u653f\u8d64\u5b57<\/strong><\/p>\n\n\n\n<p>\u91d1\u878d\u5e02\u5834\u3067\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u5371\u6a5f\u3092\u61f8\u5ff5\u3059\u308b\u58f0\u304c\u5897\u3048\u3066\u3044\u308b\u3002\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u3067\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u306e\u534a\u5206\u3092\u5360\u3081\u308b\u72b6\u614b\u3068\u306a\u3063\u3066\u304a\u308a\u3001Bridgewater\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306a\u3069\u306f\u3053\u306e\u554f\u984c\u306f\u89e3\u6c7a\u3067\u304d\u306a\u3044\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u60b2\u89b3\u7684\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/67196\" data-type=\"post\" data-id=\"67196\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306f\u5b9f\u969b\u306b\u50b5\u52d9\u5371\u6a5f\u306b\u306a\u308b\u307e\u3067\u8ca1\u653f\u8d64\u5b57\u3092\u89e3\u6c7a\u3067\u304d\u306a\u3044\u53ef\u80fd\u6027<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3057\u304b\u3057\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306f\u305d\u3046\u306f\u601d\u3063\u3066\u3044\u306a\u3044\u3088\u3046\u3060\u3002\u6700\u8fd1\u8b70\u4f1a\u3092\u901a\u3063\u305f\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u6e1b\u7a0e\u6cd5\u6848\u304c\u8ca1\u653f\u8d64\u5b57\u3092\u5897\u52a0\u3055\u305b\u308b\u3053\u3068\u3092\u5e02\u5834\u306f\u5fc3\u914d\u3057\u3066\u3044\u308b\u306e\u3067\u306f\u3068\u805e\u304b\u308c\u3001\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>\u4ef0\u3063\u3066\u3044\u308b\u3053\u3068\u304c\u3088\u304f\u5206\u304b\u3089\u306a\u3044\u3002\u682a\u4fa1\u306f\u6700\u9ad8\u5024\u3092\u66f4\u65b0\u3057\u3001\u56fd\u50b5\u306f\u904e\u53bb5\u5e74\u3067\u4e00\u756a\u597d\u8abf\u306a\u534a\u5e74\u9593\u3092\u8fce\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u5e02\u5834\u304c\u8d64\u5b57\u3092\u61f8\u5ff5\u3057\u3066\u3044\u308b\u3068\u306f\u601d\u308f\u306a\u3044\u3002\u5e02\u5834\u306f\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u6cd5\u6848\u3092\u597d\u3093\u3067\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u8cc7\u7523\u4fa1\u683c\u306e\u63a8\u79fb\u3092\u898b\u308c\u3070\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306e\u8a00\u3063\u3066\u3044\u308b\u3053\u3068\u306b\u306f\u4e00\u7406\u3042\u308b\u3002\u682a\u4fa1\u304c4\u6708\u306e\u6025\u843d\u304b\u3089\u56de\u5fa9\u3057\u305f\u3053\u3068\u306f\u8aad\u8005\u3082\u77e5\u3063\u3066\u306e\u901a\u308a\u3060\u304c\u3001\u56fd\u50b5\u304c\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u304b\u3068\u8a00\u3048\u3070\u300110\u5e74\u7269\u7c73\u56fd\u50b5\u306e\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\/07\/2025-7-5-us-10-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"559\" height=\"500\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/07\/2025-7-5-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-67536\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/07\/2025-7-5-us-10-year-treasury-bond-yield-chart.png 559w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/07\/2025-7-5-us-10-year-treasury-bond-yield-chart-300x268.png 300w\" sizes=\"auto, (max-width: 559px) 100vw, 559px\" \/><\/a><\/figure>\n\n\n\n<p>\u78ba\u304b\u306b\u5e74\u59cb\u304b\u3089\u8a00\u3048\u3070\u91d1\u5229\u306f\u4e0b\u304c\u3063\u3066\u3044\u308b\u3002\u50b5\u5238\u306e\u91d1\u5229\u4f4e\u4e0b\u306f\u3001\u4fa1\u683c\u4e0a\u6607\u3092\u610f\u5473\u3059\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u4e3b\u306b4\u6708\u306e\u682a\u5b89\u306b\u3088\u3063\u3066\u91d1\u5229\u304c\u4e0b\u304c\u3063\u305f\u3053\u3068\u306b\u3088\u308b\u3082\u306e\u3067\u3042\u308a\u3001\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\u306f\u3001\u5e02\u5834\u3092\u4e0d\u5b89\u5b9a\u306b\u3057\u305f\u95a2\u7a0e\u653f\u7b56\u3092\u5f37\u884c\u3059\u308b\u3053\u3068\u3067\u3001\u682a\u5b89\u306b\u3088\u308b\u91d1\u5229\u4f4e\u4e0b\u3092\u610f\u56f3\u7684\u306b\u72d9\u3063\u3066\u3044\u305f\u7bc0\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306e\u305d\u306e\u6226\u7565\u306f\u3001\u9014\u4e2d\u3067\u7c73\u56fd\u50b5\u306e\u4e0a\u6607\u304c\u9006\u6d41\u3057\u3001\u901a\u5e38\u682a\u5b89\u306e\u6642\u306b\u306f\u5b89\u5168\u8cc7\u7523\u3068\u3057\u3066\u8cb7\u308f\u308c\u308b\u7c73\u56fd\u50b5\u304c\u682a\u4fa1\u3068\u3068\u3082\u306b\u6025\u843d\u3059\u308b\u3068\u3044\u3046\u5371\u3046\u3044\u5c40\u9762\u3092\u7c73\u56fd\u5e02\u5834\u306b\u3082\u305f\u3089\u3057\u305f\u3002\u4e0a\u306e\u30b0\u30e9\u30d5\u3067\u8a00\u3048\u30704\u6708\u4e0a\u65ec\u306e\u91d1\u5229\u6025\u4e0a\u6607\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><strong>\u8ca1\u653f\u8d64\u5b57\u306f\u3069\u3046\u306a\u308b\u304b<\/strong><\/p>\n\n\n\n<p>\u666e\u901a\u3001\u682a\u5b89\u3067\u56fd\u50b5\u306f\u8cb7\u308f\u308c\u308b\u306e\u3067\u3001\u305d\u306e\u30b7\u30ca\u30ea\u30aa\u306f\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306b\u3068\u3063\u3066\u3082\u60f3\u5b9a\u5916\u3060\u3063\u305f\u306f\u305a\u3067\u3042\u308b\u3002\u3060\u304b\u3089\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u7c73\u56fd\u50b5\u306e\u4e0b\u843d\u3092\u898b\u3066\u3001\u95a2\u7a0e\u3092\u5f37\u884c\u3059\u308b\u3053\u3068\u3067\u682a\u5b89\u306b\u3088\u308b\u56fd\u50b5\u4e0a\u6607\u3092\u72d9\u3046\u6226\u7565\u3092\u4e00\u6642\u505c\u6b62\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63454\" data-type=\"post\" data-id=\"63454\">\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<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306e\u8a00\u3046\u3068\u304a\u308a\u3001\u5168\u4f53\u3068\u3057\u3066\u306f\u78ba\u304b\u306b\u91d1\u5229\u306f\u4e0b\u304c\u3063\u3066\u3044\u308b\u3002\u3057\u304b\u3057\u7c73\u56fd\u50b5\u3092\u4fdd\u6709\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u304c\u3001\u4f55\u304b\u3092\u304d\u3063\u304b\u3051\u306b\u7c73\u56fd\u50b5\u3092\u6295\u3052\u58f2\u308a\u3057\u304b\u306d\u306a\u3044\u53ef\u80fd\u6027\u3092\u4eca\u5e74\u306e\u76f8\u5834\u306f\u3057\u3063\u304b\u308a\u3068\u8a3c\u660e\u3057\u3066\u3057\u307e\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u554f\u984c\u306f\u8ca1\u653f\u8d64\u5b57\u3067\u3042\u308b\u3002\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u3082\u542b\u3081\u3001\u30b3\u30ed\u30ca\u4ee5\u5f8c\u5de8\u984d\u306b\u81a8\u3089\u3093\u3060\u8ca1\u653f\u8d64\u5b57\u306f\u7c73\u56fd\u50b5\u306e\u65b0\u898f\u767a\u884c\u3067\u8cc4\u308f\u308c\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u5e02\u5834\u306b\u3069\u3093\u3069\u3093\u51fa\u56de\u3063\u3066\u3044\u304f\u7c73\u56fd\u50b5\u306e\u8cb7\u3044\u624b\u304c\u5341\u5206\u306b\u8981\u308b\u306e\u304b\u3068\u3044\u3046\u3053\u3068\u304c\u554f\u984c\u3068\u306a\u3063\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u7c73\u56fd\u50b5\u306e\u8cb7\u3044\u624b\u4e0d\u8db3\u3092\u61f8\u5ff5\u3057\u3066\u8cb7\u3044\u624b\u304c\u66f4\u306b\u96e2\u308c\u3066\u3086\u304f\u72b6\u6cc1\u3092\u907f\u3051\u308b\u305f\u3081\u306b\u306f\u3001\u8cb7\u3044\u624b\u4e0d\u8db3\u306b\u9665\u3089\u306a\u3044\u3088\u3046\u306b\u7c73\u56fd\u50b5\u306e\u767a\u884c\u3092\u6e1b\u3089\u3059\u307b\u304b\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u30d9\u30c3\u30bb\u30f3\u30c8\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>\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u652f\u51fa\u3092\u6e1b\u3089\u3057\u3066\u3086\u304f\u3002\u308f\u305f\u3057\u306f\u30d5\u30ea\u30fc\u30c0\u30e0\u30fb\u30b3\u30fc\u30ab\u30b9\u306e\u30e1\u30f3\u30d0\u30fc\u3068\u306e\u8b70\u8ad6\u306b\u591a\u304f\u306e\u6642\u9593\u3092\u8cbb\u3084\u3057\u305f\u3002\u5f7c\u3089\u306e\u652f\u6301\u8005\u305f\u3061\u306f\u5f7c\u3089\u3092\u8a87\u308a\u306b\u601d\u3046\u3079\u304d\u3060\u3057\u3001\u5f7c\u3089\u306f\u5f7c\u3089\u81ea\u8eab\u3092\u8a87\u308a\u306b\u601d\u3046\u3079\u304d\u3060\u3002\u5f7c\u3089\u306f\u8b70\u8ad6\u5168\u4f53\u3092\u52d5\u304b\u3057\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30d5\u30ea\u30fc\u30c0\u30e0\u30fb\u30b3\u30fc\u30ab\u30b9\u306f\u5171\u548c\u515a\u306e\u4fdd\u5b88\u6d3e\u3067\u3001\u8ca1\u653f\u8d64\u5b57\u306e\u524a\u6e1b\u3092\u5f37\u304f\u6c42\u3081\u308b\u30b0\u30eb\u30fc\u30d7\u3067\u3042\u308b\u3002\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u3001\u5171\u548c\u515a\u306b\u306f\u5f7c\u3089\u304c\u3044\u308b\u304b\u3089\u8ca1\u653f\u8d64\u5b57\u306e\u624b\u7db1\u306f\u63e1\u3089\u308c\u3066\u3044\u308b\u3068\u4e3b\u5f35\u3057\u305f\u3044\u306e\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\u6700\u521d\u304b\u3089\u8ca1\u653f\u8d64\u5b57\u306e\u524a\u6e1b\u3092\u76ee\u6a19\u3068\u3057\u3066\u3044\u308b\u3002\u3060\u304c\u6e1b\u7a0e\u6cd5\u6848\u3092\u898b\u308c\u3070\u3001\u672c\u5f53\u306b\u305d\u308c\u306f\u5b9f\u884c\u3055\u308c\u308b\u306e\u304b\u3068\u7591\u3044\u305f\u304f\u306a\u308b\u3002<\/p>\n\n\n\n<p><strong>\u7c73\u56fd\u50b5\u306e\u52d5\u5411<\/strong><\/p>\n\n\n\n<p>\u7c73\u56fd\u50b5\u306f\u672c\u5f53\u306b\u8cb7\u3044\u624b\u4e0d\u8db3\u306b\u9665\u3089\u306a\u3044\u306e\u304b\u3002\u6a5f\u95a2\u6295\u8cc7\u5bb6\u304c\u61f8\u5ff5\u3057\u3066\u3044\u308b\u4e00\u756a\u306e\u30b7\u30ca\u30ea\u30aa\u306f\u3001\u7c73\u56fd\u653f\u5e9c\u304c\u30aa\u30fc\u30af\u30b7\u30e7\u30f3\u3067\u7c73\u56fd\u50b5\u3092\u58f2\u308d\u3046\u3068\u3057\u305f\u6642\u306b\u3001\u5341\u5206\u306a\u8cb7\u3044\u624b\u304c\u96c6\u307e\u3089\u305a\u4e0d\u8abf\u306b\u7d42\u308f\u308b\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30aa\u30fc\u30af\u30b7\u30e7\u30f3\u306e\u4e0d\u8abf\u306f\u660e\u3089\u304b\u306a\u8cb7\u3044\u624b\u4e0d\u8db3\u306e\u5146\u5019\u3067\u3042\u308a\u3001\u50b5\u5238\u5e02\u5834\u5168\u4f53\u306b\u52d5\u63fa\u3092\u4e0e\u3048\u308b\u3002\u3060\u304c\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306b\u306f\u983c\u307f\u306e\u7db1\u3068\u3057\u3066\u3044\u308b\u7c73\u56fd\u50b5\u306e\u8cb7\u3044\u624b\u304c\u3044\u308b\u3089\u3057\u3044\u3002\u30d9\u30c3\u30bb\u30f3\u30c8\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>\u7c73\u56fd\u50b5\u306e\u30aa\u30fc\u30af\u30b7\u30e7\u30f3\u3078\u306e\u9700\u8981\u306f\u975e\u5e38\u306b\u529b\u5f37\u3044\u3002\u8ab0\u304c\u7c73\u56fd\u50b5\u3092\u8cb7\u3063\u3066\u3044\u308b\u304b\u3082\u5206\u304b\u3063\u3066\u3044\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306e\u9280\u884c\u306f\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u898f\u5236\u7de9\u548c\u306b\u3088\u3063\u3066\u767a\u884c\u3055\u308c\u308b\u7c73\u56fd\u50b5\u3092\u3082\u3063\u3068\u5f15\u304d\u53d7\u3051\u308b\u3088\u3046\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3084\u306f\u308a\u9280\u884c\u3067\u3042\u308b\uff01\u3000\u3053\u3053\u307e\u3067\u805e\u3044\u3066\u3001\u3053\u3053\u306e\u8aad\u8005\u306a\u3089\u601d\u3044\u51fa\u3057\u305f\u30b7\u30ca\u30ea\u30aa\u304c\u3042\u308b\u3060\u308d\u3046\u3002\u7c73\u56fd\u653f\u5e9c\u306f\u7c73\u56fd\u50b5\u306e\u8cb7\u3044\u624b\u4e0d\u8db3\u306b\u9665\u308b\u3068\u3001\u9280\u884c\u306b\u56fd\u50b5\u3092\u7121\u7406\u77e2\u7406\u8cb7\u308f\u305b\u308b\u3068\u3044\u3046\u30e9\u30c3\u30bb\u30eb\u30fb\u30cd\u30a4\u30d4\u30a2\u6c0f\u306e\u4e88\u60f3\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/66123\" data-type=\"post\" data-id=\"66123\">\u30cd\u30a4\u30d4\u30a2\u6c0f\u3001\u30a2\u30e1\u30ea\u30ab\u306f\u7c73\u56fd\u50b5\u4e0b\u843d\u3067\u8cc7\u672c\u7d71\u5236\u3092\u884c\u3046\u3068\u4e88\u60f3<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u30cd\u30a4\u30d4\u30a2\u6c0f\u304c\u8a00\u3063\u3066\u3044\u305f\u3088\u3046\u306b\u3001\u3053\u306e\u30b7\u30ca\u30ea\u30aa\u306b\u306f\u6839\u672c\u7684\u306a\u554f\u984c\u304c\u3042\u308b\u3002\u5148\u9032\u56fd\u306f\u5927\u4f53\u4f55\u51e6\u3082\u540c\u3058\u72b6\u6cc1\u306b\u9665\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30cd\u30a4\u30d4\u30a2\u6c0f\u306b\u3088\u308c\u3070\u3001\u8ca0\u50b5\u304c\u7a4d\u307f\u4e0a\u304c\u3063\u3066\u3044\u308b\u304c\u30a4\u30f3\u30d5\u30ec\u61f8\u5ff5\u3067\u4e2d\u592e\u9280\u884c\u306b\u7d19\u5e63\u5370\u5237\u3067\u56fd\u50b5\u3092\u8cb7\u308f\u305b\u308b\u3053\u3068\u304c\u51fa\u6765\u306a\u304f\u306a\u3063\u305f\u5404\u5148\u9032\u56fd\u306f\u3001\u81ea\u56fd\u306e\u9280\u884c\u306b\u56fd\u50b5\u3092\u8cb7\u308f\u305b\u308b\u65b9\u5411\u306b\u9032\u3093\u3067\u3086\u304f\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u6642\u306b\u9280\u884c\u304c\u4ee3\u308f\u308a\u306b\u58f2\u3089\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3082\u306e\u306f\u3001\u307e\u305a\u5916\u56fd\u306e\u56fd\u50b5\u3067\u3042\u308b\u3002\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306b\u3088\u308c\u3070\u3001\u3084\u306f\u308a\u30a2\u30e1\u30ea\u30ab\u3082\u305d\u306e\u65b9\u5411\u3067\u9032\u3093\u3067\u3086\u304f\u3088\u3046\u3060\u3002<\/p>\n\n\n\n<p>\u5404\u56fd\u304c\u81ea\u56fd\u306e\u9280\u884c\u306a\u3069\u306b\u5916\u56fd\u8cc7\u7523\u3092\u58f2\u3089\u305b\u3001\u56fd\u50b5\u306a\u3069\u81ea\u56fd\u306e\u8cc7\u7523\u3092\u8cb7\u308f\u305b\u3088\u3046\u3068\u3059\u308b\u306a\u3089\u3070\u3001\u4f55\u304c\u8d77\u3053\u308b\u306e\u304b\u3002\u56fd\u50b5\u3084\u682a\u5f0f\u304c\u5916\u56fd\u4eba\u306b\u3088\u3063\u3066\u4fdd\u6709\u3055\u308c\u3066\u3044\u308b\u56fd\u304b\u3089\u8cc7\u91d1\u304c\u6d41\u51fa\u3057\u3066\u3086\u304f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u305d\u306e\u4ee3\u8868\u683c\u3053\u305d\u304c\u3001\u3053\u308c\u307e\u3067\u4e16\u754c\u4e2d\u306e\u6295\u8cc7\u5bb6\u3092\u5f15\u304d\u5bc4\u305b\u3066\u3044\u305f\u30a2\u30e1\u30ea\u30ab\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\/67016\" data-type=\"post\" data-id=\"67016\">\u30cd\u30a4\u30d4\u30a2\u6c0f: \u65e5\u672c\u4eba\u306e\u30c9\u30eb\u8cc7\u7523\u58f2\u308a\u304c\u7c73\u56fd\u682a\u3092\u4e0b\u843d\u3055\u305b\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u306f\u81ea\u56fd\u306e\u9280\u884c\u306b\u56fd\u50b5\u3092\u8cb7\u308f\u305b\u308b\u306e\u3067\u5927\u4e08\u592b\u3060\u3068\u601d\u3063\u3066\u3044\u308b\u3088\u3046\u3060\u3002\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u306f\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>\u56fd\u50b5\u306e\u5897\u52a0\u306f\u3053\u308c\u304b\u3089\u3082\u3063\u3068\u7de9\u3084\u304b\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>GDP\u6bd4\u306e\u653f\u5e9c\u50b5\u52d9\u306f\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u7d42\u308f\u308a\u306b\u306f90%\u53f0\u306b\u5411\u3051\u3066\u4e0b\u843d\u3057\u3066\u3086\u304f\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3053\u308c\u306f\u304b\u306a\u308a\u610f\u6b32\u7684\u306a\u76ee\u6a19\u3060\u3002\u73fe\u5728\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u5e9c\u50b5\u52d9\u306fGDP\u6bd4\u3067121%\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\/07\/2025-1q-us-federal-debt-to-gdp-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"513\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/07\/2025-1q-us-federal-debt-to-gdp-chart.png\" alt=\"\" class=\"wp-image-67534\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/07\/2025-1q-us-federal-debt-to-gdp-chart.png 600w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/07\/2025-1q-us-federal-debt-to-gdp-chart-300x257.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/figure>\n\n\n\n<p>\u610f\u6b32\u7684\u904e\u304e\u3066\u5fc3\u914d\u306b\u306a\u308b\u304f\u3089\u3044\u3060\u3002\u305d\u3053\u307e\u3067\u8d64\u5b57\u3092\u6e1b\u3089\u3057\u3066\uff08\u3064\u307e\u308a\u652f\u51fa\u3092\u6e1b\u3089\u3057\u3066\uff09\u3001\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u666f\u6c17\u5f8c\u9000\u306b\u9665\u3089\u306a\u3044\u306e\u304b\u3002\uff08\u203b7\/5\u8aa4\u8a18\u3092\u8a02\u6b63\u3057\u307e\u3057\u305f\u3002\uff09<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u73fe\u5b9f\u306b\u306f\u3001\u5c11\u3057\u524d\u306b\u767a\u8868\u3055\u308c\u305f\u4e88\u7b97\u6848\u3092\u898b\u3066\u3082\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u610f\u6b32\u7684\u306b\u652f\u51fa\u3092\u6e1b\u3089\u3059\u69d8\u5b50\u306f\u898b\u3048\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/64503\" data-type=\"post\" data-id=\"64503\">\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u4e88\u7b97\u6848\u767a\u8868\u3001\u8ca1\u653f\u8d64\u5b57\u3092\u89e3\u6c7a\u3067\u304d\u306a\u3051\u308c\u3070\u7c73\u56fd\u50b5\u66b4\u843d\u3001\u91d1\u5229\u4e0a\u6607\u304b\u3089\u682a\u4fa1\u4e0b\u843d\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3082\u3057\u3053\u306e\u307e\u307e\u7c73\u56fd\u50b5\u304c\u8cb7\u3044\u624b\u4e0d\u8db3\u306b\u9665\u308c\u3070\u3001\u540c\u3058\u3088\u3046\u306b\u7c73\u56fd\u50b5\u304b\u3089\u8cc7\u91d1\u304c\u6d41\u51fa\u3057\u305f1929\u5e74\u304b\u3089\u306e\u4e16\u754c\u6050\u614c\u306b\u304a\u3051\u308b\u66b4\u843d\u76f8\u5834\u304c\u518d\u73fe\u3055\u308c\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\/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>\u4e16\u754c\u6050\u614c\u306b\u304a\u3051\u308b\u53f2\u4e0a\u6700\u5927\u898f\u6a21\u306e\u7c73\u56fd\u682a\u306e\u66b4\u843d\u306b\u3064\u3044\u3066\u306f\u3001\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304c\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\u3067\u8a73\u3057\u304f\u89e3\u8aac\u3057\u3066\u3044\u308b\u306e\u3067\u305d\u3061\u3089\u3092\u53c2\u7167\u3057\u3066\u307b\u3057\u3044\u3002\u7c73\u56fd\u50b5\u306f\u679c\u305f\u3057\u3066\u5927\u4e08\u592b\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<p><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><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306eSoros Fund Management\u3092\u904b\u7528\u3057\u3066\u3044\u305f\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3067\u3042\u308a\u3001\u73fe\u5728\u306f\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u8ca1\u52d9\u9577\u5b98\u3067\u3042\u308b\u30b9\u30b3\u30c3\u30c8\u30fb\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f\u304c\u7c73\u56fd\u50b5\u3068\u8ca1\u653f\u8d64\u5b57\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":[118,108],"tags":[203],"class_list":["post-67532","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\/67532","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=67532"}],"version-history":[{"count":24,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/67532\/revisions"}],"predecessor-version":[{"id":67558,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/67532\/revisions\/67558"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=67532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=67532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=67532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}