{"id":72208,"date":"2025-11-16T20:00:00","date_gmt":"2025-11-16T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=72208"},"modified":"2025-11-16T15:41:50","modified_gmt":"2025-11-16T06:41:50","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e3%82%a2%e3%83%a1%e3%83%aa%e3%82%ab%e4%ba%ba%e3%81%af%e3%83%89%e3%83%ab%e8%b3%87%e7%94%a3%e3%81%8b%e3%82%89%e5%a4%96%e8%b2%a8%e3%82%84","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/72208","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u4eba\u306f\u30c9\u30eb\u8cc7\u7523\u304b\u3089\u5916\u8ca8\u3084\u30b4\u30fc\u30eb\u30c9\u3084\u6697\u53f7\u8cc7\u7523\u306b\u9003\u3052\u51fa\u3057\u3066\u3044\u308b"},"content":{"rendered":"\n<p>DoubleLine Capital\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u81ea\u793e\u914d\u4fe1\u52d5\u753b\u3067\u30c9\u30eb\u304b\u3089\u306e\u8cc7\u91d1\u6d41\u51fa\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30c9\u30eb\u304b\u3089\u306e\u8cc7\u91d1\u6d41\u51fa<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u30c9\u30eb\u305d\u306e\u3082\u306e\u306b\u9650\u3089\u305a\u3001\u30c9\u30eb\u5efa\u3066\u8cc7\u7523\u5168\u822c\u306b\u5f31\u6c17\u3067\u3042\u308b\u3002\u4f8b\u3048\u3070\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u7c73\u56fd\u682a\u81ea\u4f53\u304c\u4e0b\u843d\u3059\u308b\u3068\u306f\u4e88\u60f3\u3057\u3066\u3044\u306a\u3044\u306e\u3060\u304c\u3001\u7c73\u56fd\u682a\u306f\u4ed6\u306e\u56fd\u306e\u682a\u5f0f\u306b\u8ca0\u3051\u7d9a\u3051\u308b\u3068\u4e88\u60f3\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\/70567\" data-type=\"post\" data-id=\"70567\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: 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class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/68740\" data-type=\"post\" data-id=\"68740\">\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98: \u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306e\u5f8c\u4efb\u306f\u5e74\u5185\u306b\u767a\u8868\u3055\u308c\u3001\u91d1\u878d\u7de9\u548c\u3092\u78ba\u5b9f\u306b\u3059\u308b<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/67560\" data-type=\"post\" data-id=\"67560\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u3001\u30a2\u30e1\u30ea\u30ab\u7248\u30a2\u30d9\u30ce\u30df\u30af\u30b9\u306b\u3088\u308b\u30c9\u30eb\u66b4\u843d\u3092\u4e88\u60f3<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u50b5\u52d9\u554f\u984c\u306f\u901a\u8ca8\u5b89\u3067\u89e3\u6c7a\u3055\u308c\u308b<\/strong><\/p>\n\n\n\n<p>\u65e5\u672c\u3067\u65e2\u306b\u305d\u3046\u306a\u3063\u3066\u3044\u308b\u3088\u3046\u306b\u3001\u653f\u5e9c\u50b5\u52d9\u306e\u554f\u984c\u306f\u7d19\u5e63\u306e\u4fa1\u5024\u4e0b\u843d\u3067\u89e3\u6c7a\u3055\u308c\u308b\u3002\u3060\u304b\u3089\u3001\u30a2\u30e1\u30ea\u30ab\u4eba\u3067\u3042\u308b\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u30c9\u30eb\u306e\u4e0b\u843d\u304b\u3089\u8eab\u3092\u5b88\u308b\u305f\u3081\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>2025\u5e74\u3001DoubleLine Capital\u306f16\u5e74\u306e\u6b74\u53f2\u306e\u4e2d\u3067\u521d\u3081\u3066\u65b0\u8208\u56fd\u306e\u50b5\u5238\u3092\u305d\u306e\u56fd\u306e\u901a\u8ca8\u5efa\u3066\u3067\u8cb7\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u3053\u306e\u6295\u8cc7\u306f\u307e\u3060\u59cb\u307e\u3063\u305f\u3070\u304b\u308a\u3060\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u9006\u306b\u8a00\u3048\u3070\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30c9\u30eb\u306e\u4e0b\u843d\u306f\u59cb\u307e\u3063\u305f\u3070\u304b\u308a\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\/72106\" data-type=\"post\" data-id=\"72106\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30c9\u30eb\u7a7a\u58f2\u308a\u306f\u4eca\u4e00\u756a\u7c21\u5358\u306b\u5132\u304b\u308b\u30c8\u30ec\u30fc\u30c9<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3053\u308c\u307e\u3067\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u65b0\u8208\u56fd\u306e\u50b5\u5238\u3092\u8cb7\u3046\u5834\u5408\u306b\u306f\u70ba\u66ff\u30ea\u30b9\u30af\u3092\u30d8\u30c3\u30b8\u3057\u3066\u3044\u305f\u3002\u4ed6\u306e\u56fd\u306e\u901a\u8ca8\u3088\u308a\u3082\u30c9\u30eb\u306e\u65b9\u304c\u5f37\u3044\u6642\u4ee3\u304c\u7d9a\u3044\u305f\u305f\u3081\u306b\u3001\u70ba\u66ff\u30ea\u30b9\u30af\u3092\u53d6\u308b\u3068\u30c9\u30eb\u3092\u30d9\u30fc\u30b9\u306b\u8003\u3048\u3066\u3044\u308b\u30a2\u30e1\u30ea\u30ab\u4eba\u306b\u3068\u3063\u3066\u306f\u70ba\u66ff\u5dee\u640d\u304c\u51fa\u3066\u3057\u307e\u3046\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30c9\u30eb\u304c\u5f37\u3044\u6642\u4ee3\u306f\u7d42\u308f\u3063\u305f\u3068\u8003\u3048\u3066\u3044\u308b\u3002\u30b3\u30ed\u30ca\u5f8c\u306b\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u304c\u6025\u5897\u3057\u305f\u3053\u3068\u3067\u3001\u30a2\u30e1\u30ea\u30ab\u3082\u65e5\u672c\u306e\u3088\u3046\u306b\u901a\u8ca8\u3092\u72a0\u7272\u306b\u3057\u3066\u56fd\u50b5\u3092\u8cb7\u3044\u652f\u3048\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u3063\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u4eba\u306e\u8cc7\u7523\u9632\u885b<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306b\u3088\u308c\u3070\u3001\u4eca\u3084\u30a2\u30e1\u30ea\u30ab\u4eba\u306b\u3068\u3063\u3066\u30c9\u30eb\u306e\u4e0b\u843d\u306b\u5099\u3048\u308b\u3053\u3068\u306f\u6025\u52d9\u3068\u306a\u3063\u3066\u3044\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>\u3053\u306e\u6295\u8cc7\u30a2\u30a4\u30c7\u30a2\u306b\u3064\u3044\u3066\u306f\u591a\u304f\u306e\u554f\u3044\u5408\u308f\u305b\u304c\u6765\u3066\u3044\u308b\u3002\u591a\u304f\u306e\u4eba\u304c\u30c9\u30eb\u306e\u4fa1\u5024\u4e0b\u843d\u304b\u3089\u8cc7\u7523\u3092\u5b88\u308d\u3046\u3068\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u9867\u5ba2\u306b\u306a\u308b\u3088\u3046\u306a\u30a2\u30e1\u30ea\u30ab\u306e\u5bcc\u88d5\u5c64\u306f\u3001\u660e\u3089\u304b\u306b\u30c9\u30eb\u306e\u4e0b\u843d\u306b\u5099\u3048\u3088\u3046\u3068\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u3060\u3051\u3067\u306f\u306a\u3044\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u5927\u624b\u30b9\u30fc\u30d1\u30fc\u306eTarget\u3067\u73fe\u7269\u306e\u30b4\u30fc\u30eb\u30c9\u304c\u8ca9\u58f2\u3055\u308c\u3066\u3044\u308b\u3053\u3068\u306b\u3082\u3088\u304f\u8a00\u53ca\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u5c11\u3057\u305a\u3064\u4eba\u3005\u304c\u7d19\u5e63\u306e\u4fa1\u5024\u4e0b\u843d\u306b\u6c17\u3065\u304d\u59cb\u3081\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u7e8f\u3081\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>\u4eba\u3005\u306f\u5b89\u5168\u8cc7\u7523\u3092\u8cb7\u304a\u3046\u3068\u3057\u3066\u3044\u308b\u3002\u30ea\u30b9\u30af\u3092\u53d6\u308b\u4eba\u3005\u306f\u6697\u53f7\u8cc7\u7523\u3092\u8cb7\u3063\u3066\u3044\u308b\u3002\u4ed6\u306e\u4eba\u3005\u306f\u30b4\u30fc\u30eb\u30c9\u3092\u8cb7\u3063\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u540c\u3058\u3088\u3046\u306a\u8003\u3048\u3092\u3059\u308b\u30a2\u30e1\u30ea\u30ab\u306e\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306f\u591a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/71086\" data-type=\"post\" data-id=\"71086\">\u30c1\u30e5\u30fc\u30c0\u30fc\u30fb\u30b8\u30e7\u30fc\u30f3\u30ba\u6c0f: \u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u5229\u4e0b\u3052\u3067\u7c73\u56fd\u682a\u9ad8\u9a30\u3078\u3001\u30b4\u30fc\u30eb\u30c9\u3068\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3068\u30cf\u30a4\u30c6\u30af\u682a\u3092\u8cb7\u3048<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/71230\" data-type=\"post\" data-id=\"71230\">\u30b0\u30ea\u30d5\u30a3\u30f3\u6c0f: \u7c73\u56fd\u306e\u8ca1\u653f\u7834\u7dbb\u61f8\u5ff5\u3067\u30b4\u30fc\u30eb\u30c9\u3068\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u304c\u9ad8\u9a30\u3057\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u3057\u3066\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u30b4\u30fc\u30eb\u30c9\u306b\u5bfe\u3057\u3066\u51fa\u9045\u308c\u3066\u3044\u308b\u30b7\u30eb\u30d0\u30fc\u306b\u3064\u3044\u3066\u3082\u6b21\u306e\u3088\u3046\u306b\u8a9e\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>\u8cc7\u7523\u306e\u5c11\u306a\u3044\u4eba\u306f\u30b7\u30eb\u30d0\u30fc\u3092\u597d\u3080\u3002\u4e0a\u304c\u308b\u6642\u306b\u306f\u5927\u304d\u304f\u4e0a\u304c\u308b\u8cc7\u7523\u3060\u304b\u3089\u3060\u3002\u305d\u308c\u304c\u4eca\u5e74\u8d77\u3053\u3063\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30b7\u30eb\u30d0\u30fc\u3082\u3088\u3046\u3084\u304f\u4e0a\u304c\u308a\u59cb\u3081\u3066\u3044\u308b\u3002\u9280\u76f8\u5834\u306b\u3064\u3044\u3066\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u8a73\u3057\u304f\u66f8\u3044\u3066\u3044\u308b\u306e\u3067\u305d\u3061\u3089\u3082\u53c2\u8003\u306b\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/71684\" data-type=\"post\" data-id=\"71684\">\u9280\u4fa1\u683c\u304c\u91d1\u4fa1\u683c\u306e\u6025\u9a30\u306b\u8ffd\u3044\u3064\u3044\u3066\u3086\u304f\u304b\u3069\u3046\u304b\u306f\u3001\u666e\u901a\u306e\u4eba\u3005\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u61f8\u5ff5\u3057\u59cb\u3081\u308b\u304b\u3069\u3046\u304b\u306b\u304b\u304b\u3063\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>DoubleLine 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