{"id":7007,"date":"2017-11-17T20:02:57","date_gmt":"2017-11-17T11:02:57","guid":{"rendered":"http:\/\/www.globalmacroresearch.org\/jp\/?p=7007"},"modified":"2017-11-17T15:54:05","modified_gmt":"2017-11-17T06:54:05","slug":"%e4%b8%96%e7%95%8c%e6%9c%80%e5%a4%a7%e3%81%ae%e3%83%98%e3%83%83%e3%82%b8%e3%83%95%e3%82%a1%e3%83%b3%e3%83%89%e3%80%81%e6%96%b0%e8%88%88%e5%9b%bd%e6%a0%aa%e3%82%84%e3%82%b4%e3%83%bc%e3%83%ab%e3%83%89","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/7007","title":{"rendered":"\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u65b0\u8208\u56fd\u682a\u3084\u30b4\u30fc\u30eb\u30c9\u306a\u3069\u30c9\u30eb\u5b89\u9298\u67c4\u3092\u8cb7\u3044\u5897\u3057"},"content":{"rendered":"<p>\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u7387\u3044\u308b\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001Bridgewater\u306e9\u6708\u672b\u6642\u70b9\u3067\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u4e00\u90e8\u304c\u516c\u958b\u3055\u308c\u305f\u306e\u3067\u7d39\u4ecb\u3057\u305f\u3044\u3002<a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/6995\">\u524d\u56de<\/a>\u306e\u30bd\u30ed\u30b9\u6c0f\u306b\u5f15\u304d\u7d9a\u304d\u3001\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u958b\u793a\u3059\u308bForm 13F\u7279\u96c6\u3067\u3042\u308b\u3002<\/p>\n<p><!--more--><strong>\u30c0\u30ea\u30aa\u6c0f\u306e\u65b0\u8208\u56fd\u682a\u6295\u8cc7<\/strong><\/p>\n<p>Bridgewater\u306eForm 13F\u306b\u3064\u3044\u3066\u306f\u6bce\u56db\u534a\u671f\u30d5\u30a9\u30ed\u30fc\u3057\u3066\u3044\u308b\u304c\u3001\u3053\u308c\u307e\u3067\u306e\u6d41\u308c\u3068\u3057\u3066\u306f\u3001\u7c73\u56fd\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u304c\u9032\u3080\u4e2d\u3067Bridgewater\u306f\u65b0\u8208\u56fd\u682aETF\u3092\u7a4d\u6975\u7684\u306b\u8cb7\u3063\u3066\u3044\u305f\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/6957\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u7c73\u56fd\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3067\u3082\u682a\u5f0f\u5e02\u5834\u3092\u8cb7\u3044\u6301\u3061<\/a><\/li>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/6786\">Form 13F: \u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u65b0\u8208\u56fd\u682a\u5f0f\u3092\u8cb7\u3044\u5897\u3057<\/a><\/li>\n<\/ul>\n<p>\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306b\u542b\u307e\u308c\u3066\u3044\u308b\u306e\u306f\u3001Vanguard Emerging Markets ETF (NYSEARCA:VWO)\u3068iShares MSCI Emerging Markets ETF (NYSEARCA:EEM)\u306e2\u3064\u3067\u3042\u308b\u3002<\/p>\n<p>\u901a\u5e38\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u5229\u304c\u4e0a\u304c\u308c\u3070\u65b0\u8208\u56fd\u306e\u901a\u8ca8\u3084\u682a\u5f0f\u306a\u3069\u91d1\u5229\u306e\u9ad8\u3044\u8cc7\u7523\u306f\u58f2\u3089\u308c\u308b\u50be\u5411\u306b\u3042\u308b\u304c\u3001\u4eca\u56de\u306e9\u6708\u672b\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3067\u30c0\u30ea\u30aa\u6c0f\u306f\u3053\u308c\u3089\u306e\u65b0\u8208\u56fd\u682aETF\u3092\u66f4\u306b\u8cb7\u3044\u5897\u3057\u3066\u3044\u308b\u3002<\/p>\n<ul>\n<li><strong>Vanguard:<\/strong>\u00a032\u5104\u30c9\u30eb \u2013 &gt; 38\u5104\u30c9\u30eb<\/li>\n<li><strong>iShares:<\/strong>\u00a023\u5104\u30c9\u30eb -&gt; 29\u5104\u30c9\u30eb<\/li>\n<\/ul>\n<p>\u305f\u3060\u30019\u6708\u4ee5\u964d\u306e\u30c9\u30eb\u9ad8\u306b\u4e0a\u5024\u3092\u963b\u307e\u308c\u3001\u65b0\u8208\u56fdETF\u306e\u682a\u4fa1\u306f\u6a2a\u3070\u3044\u3067\u63a8\u79fb\u3057\u3066\u3044\u308b\u3002\u4ee5\u4e0b\u306fVanguard\u306e\u30c1\u30e3\u30fc\u30c8\u3067\u3042\u308b\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2017\/11\/2017-11-17-vanguard-emerging-markets-etf-nysearca-vwo-chart.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7008\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2017\/11\/2017-11-17-vanguard-emerging-markets-etf-nysearca-vwo-chart.png\" alt=\"\" width=\"600\" height=\"402\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2017\/11\/2017-11-17-vanguard-emerging-markets-etf-nysearca-vwo-chart.png 600w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2017\/11\/2017-11-17-vanguard-emerging-markets-etf-nysearca-vwo-chart-300x201.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>\u307e\u305f\u3001\u30c0\u30ea\u30aa\u6c0f\u306f\u3053\u308c\u3089\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3088\u308a\u3082\u6841\u4e00\u3064\u5206\u5c11\u984d\u3067\u306f\u3042\u308b\u304c\u3001\u30b4\u30fc\u30eb\u30c9ETF\u3084\u30b8\u30e3\u30f3\u30af\u50b5ETF\u306a\u3069\u3082\u4fdd\u6709\u3057\u3066\u3044\u308b\u3002\u5c11\u984d\u30dd\u30b8\u30b7\u30e7\u30f3\u306f\u3055\u3066\u304a\u3044\u305f\u3068\u3057\u3066\u3082\u3001\u958b\u793a\u3055\u308c\u305f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u304b\u3089\u306f\u30c0\u30ea\u30aa\u6c0f\u304c\u4f4e\u91d1\u5229\u30fb\u30c9\u30eb\u5b89\u65b9\u5411\u306b\u8ced\u3051\u3066\u3044\u308b\u3088\u3046\u306b\u898b\u3048\u308b\u3002\u30b4\u30fc\u30eb\u30c9\u3082\u30b8\u30e3\u30f3\u30af\u50b5\u3082\u4f4e\u91d1\u5229\u306b\u6069\u6075\u3092\u53d7\u3051\u308b\u8cc7\u7523\u30af\u30e9\u30b9\u3060\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n<p><strong>\u30c9\u30eb\u306f\u4e0b\u304c\u308b\u306e\u304b\uff1f<\/strong><\/p>\n<p>\u6b63\u76f4\u306b\u8a00\u3048\u3070\u3001\u7b46\u8005\u306e\u76f8\u5834\u89b3\u306f\u30c0\u30ea\u30aa\u6c0f\u306e\u307b\u307c\u9006\u3068\u8a00\u3063\u3066\u3082\u826f\u3044\u3002\u30b8\u30e3\u30f3\u30af\u50b5ETF\u306b\u3064\u3044\u3066\u306f\u7a7a\u58f2\u308a\u3092\u691c\u8a0e\u3057\u3066\u3044\u308b\u304f\u3089\u3044\u3067\u3042\u308b\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2017\/11\/2017-11-17-ishares-iboxx-high-yield-corporate-bond-etf-nysearca-hyg-chart.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7010\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2017\/11\/2017-11-17-ishares-iboxx-high-yield-corporate-bond-etf-nysearca-hyg-chart.png\" alt=\"\" width=\"600\" height=\"402\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2017\/11\/2017-11-17-ishares-iboxx-high-yield-corporate-bond-etf-nysearca-hyg-chart.png 600w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2017\/11\/2017-11-17-ishares-iboxx-high-yield-corporate-bond-etf-nysearca-hyg-chart-300x201.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u4e2d\u592e\u9280\u884c\u306f\u50b5\u5238\u306e\u4fdd\u6709\u91cf\u3092\u6e1b\u3089\u3057\u59cb\u3081\u3066\u304a\u308a\u3001\u305d\u306e\u8cc7\u91d1\u6d41\u51fa\u5206\u306e\u5f71\u97ff\u306f\u56fd\u969b\u5e02\u5834\u306e\u4f55\u51e6\u304b\u306b\u51fa\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002\u4eee\u306b\u5e02\u5834\u306b\u653e\u51fa\u3055\u308c\u305f\u7c73\u56fd\u50b5\u3092\u4ed6\u306e\u6295\u8cc7\u5bb6\u304c\u8cb7\u3048\u652f\u3048\u305f\u3068\u3057\u3066\u3082\u3001\u305d\u306e\u7c73\u56fd\u50b5\u3092\u8cb7\u3063\u305f\u8cc7\u91d1\u306f\u3001\u305d\u308c\u307e\u3067\u5225\u306e\u4f55\u3089\u304b\u306e\u8cc7\u7523\u306b\u6295\u8cc7\u3055\u308c\u3066\u3044\u305f\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n<p>\u3060\u304b\u3089\u3001\u4eee\u306b\u9577\u671f\u91d1\u5229\u304c\u5909\u52d5\u3057\u306a\u3044\u5834\u5408\u306b\u3082\u5f71\u97ff\u306f\u4f55\u51e6\u304b\u306b\u51fa\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002\u305d\u3057\u3066\u305d\u306e\u5bfe\u8c61\u306f\u901a\u5e38\u3001\u6bd4\u8f03\u7684\u9ad8\u3044\u5229\u56de\u308a\u3092\u63d0\u4f9b\u3057\u3066\u304d\u305f\u30b8\u30e3\u30f3\u30af\u50b5\u3084\u65b0\u8208\u56fd\u306e\u8cc7\u7523\u306a\u306e\u3067\u3042\u308b\u3002\u91d1\u878d\u5f15\u304d\u7de0\u3081\u76f8\u5834\u3067\u306f\u30cf\u30a4\u30ea\u30b9\u30af\u30fb\u30cf\u30a4\u30ea\u30bf\u30fc\u30f3\u306e\u8cc7\u7523\u304b\u3089\u9806\u306b\u58f2\u3089\u308c\u3066\u3086\u304f\u3002<\/p>\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n<p>\u30c0\u30ea\u30aa\u6c0f\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u3069\u3046\u8003\u3048\u3066\u3044\u308b\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u601d\u3044\u8fd4\u3057\u3066\u307f\u308c\u3070\u3001\u5f7c\u306f9\u6708\u672b\u306b\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306f\u5931\u6557\u3059\u308b\u3068\u767a\u8a00\u3057\u3066\u3044\u305f\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/6877\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u7c73\u56fd\u5229\u4e0a\u3052\u3068\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u7e2e\u5c0f\u306f\u5931\u6557\u3059\u308b<\/a><\/li>\n<\/ul>\n<p>\u3053\u306e\u767a\u8a00\u3068\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u8003\u616e\u3059\u308b\u3068\u3001\u3069\u3046\u3084\u3089\u30c0\u30ea\u30aa\u6c0f\u306f\u3053\u306e\u8fba\u308a\u304c\u91d1\u878d\u5f15\u304d\u7de0\u3081\u76f8\u5834\u306e\u30d4\u30fc\u30af\u3067\u3001\u5f8c\u306f\u91d1\u5229\u4f4e\u4e0b\u65b9\u5411\u306b\u52d5\u304f\u3057\u304b\u306a\u3044\u3068\u8003\u3048\u3066\u3044\u308b\u3088\u3046\u3067\u3042\u308b\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u4f4e\u91d1\u5229\u3078\u306e\u30b7\u30d5\u30c8\u306f\u5b9f\u969b\u306b\u3069\u3046\u8d77\u3053\u308b\u3068\u3044\u3046\u306e\u3060\u308d\u3046\u304b\uff1f\u3000Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u304c\u8a00\u3044\u8a33\u306b\u51fa\u6765\u308b\u3088\u3046\u306a\u7d4c\u6e08\u306e\u6e1b\u901f\u306f\u8d77\u3053\u3063\u3066\u304a\u3089\u305a\u3001\u7b46\u8005\u306e\u5206\u6790\u306b\u3088\u308c\u3070\u3001\u3080\u3057\u308d\u7c73\u56fdGDP\u306e\u597d\u8abf\u306f\u5c11\u306a\u304f\u3068\u3082\u5f8c\u534a\u5e74\u306f\u7d9a\u304f\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u306e\u3067\u3042\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/6971\">2017\u5e743Q\u7c73\u56fdGDP\u3001\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306b\u5fcd\u3073\u5bc4\u308b\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306e\u5f71\u97ff<\/a><\/li>\n<\/ul>\n<p>\u5f71\u97ff\u306f\u3044\u305a\u308c\u51fa\u308b\u3068\u3044\u3046\u70b9\u3067\u3001\u7b46\u8005\u3068\u30c0\u30ea\u30aa\u6c0f\u306f\u4e00\u81f4\u3057\u3066\u3044\u308b\u3002\u3057\u304b\u3057\u3053\u306e\u534a\u5e74\u306e\u9593\u3001\u76f8\u5834\u306f\u305d\u3046\u7c21\u5358\u306b\u91d1\u878d\u7de9\u548c\u306e\u5074\u3078\u3068\u52d5\u3044\u3066\u304f\u308c\u308b\u3060\u308d\u3046\u304b\u3002\u8aad\u8005\u3082\u305d\u308c\u305e\u308c\u81ea\u5206\u306e\u610f\u898b\u3092\u8003\u3048\u3066\u307f\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u7387\u3044\u308b\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001Bridgewater\u306e9\u6708\u672b\u6642\u70b9\u3067\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u4e00\u90e8\u304c\u516c\u958b\u3055\u308c\u305f\u306e\u3067\u7d39\u4ecb\u3057\u305f\u3044\u3002\u524d\u56de\u306e\u30bd\u30ed\u30b9\u6c0f\u306b\u5f15\u304d\u7d9a\u304d\u3001\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u958b\u793a\u3059\u308bForm 13F\u7279\u96c6\u3067\u3042\u308b &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/7007\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u65b0\u8208\u56fd\u682a\u3084\u30b4\u30fc\u30eb\u30c9\u306a\u3069\u30c9\u30eb\u5b89\u9298\u67c4\u3092\u8cb7\u3044\u5897\u3057<\/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":[118,111,57,108,15,110],"tags":[102],"class_list":["post-7007","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-stock-markets","category-commodity-markets","category-bond-markets","category-news","category-gold","tag-ray-dalio"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/7007","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=7007"}],"version-history":[{"count":6,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/7007\/revisions"}],"predecessor-version":[{"id":7016,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/7007\/revisions\/7016"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=7007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=7007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=7007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}