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\u5f7c\u306f\u7206\u7b11\u3057\u3066\u7b54\u3048\u305f\u3002\u305d\u3093\u306a\u308f\u3051\u304c\u306a\u3044\u3068\u3002\u65e5\u9280\u3068\u3001\u56fd\u50b5\u306e\u4fdd\u6709\u3092\u5f37\u8981\u3055\u308c\u3066\u3044\u308b\u65e5\u672c\u306e\u91d1\u878d\u6a5f\u95a2\u3057\u304b\u65e5\u672c\u56fd\u50b5\u3092\u8cb7\u3044\u305f\u304c\u3089\u306a\u3044\u3068\u3002<\/p>\n<\/blockquote>\n\n\n\n \u7d50\u8ad6<\/strong><\/p>\n\n\n\n \u65e5\u672c\u306eGPIF\u306f\u65e5\u672c\u56fd\u50b5\u4fdd\u6709\u3068\u3044\u3046\u30a2\u30a4\u30c7\u30a2\u306b\u5bfe\u3057\u3066\u7206\u7b11\u3057\u305f\u3089\u3057\u3044\u3002<\/p>\n\n\n\n \u65e5\u672c\u56fd\u50b5\u3092\u8ab0\u3082\u8cb7\u3044\u305f\u304c\u3089\u306a\u3044\u306e\u3067\u3001\u65e5\u9280\u306b\u8cb7\u308f\u305b\u305f\u3089\u5186\u5b89\u3068\u30a4\u30f3\u30d5\u30ec\u304c\u9177\u304f\u306a\u3063\u305f\u3002\u305d\u308c\u3067\u690d\u7530\u7dcf\u88c1\u304c\u91d1\u5229\u3092\u4e0a\u3052\u3066\u3044\u308b\u306e\u3060\u304c\u3001\u305d\u3046\u3059\u308b\u3068\u4eca\u5ea6\u306f\u5b9f\u4f53\u7d4c\u6e08\u304c\u6e1b\u901f\u3057\u59cb\u3081\u308b\u3002<\/p>\n\n\n\n \u3069\u3061\u3089\u306b\u884c\u3063\u3066\u3082\u5730\u7344\u306e\u72b6\u6cc1\u304c\u9ed2\u7530\u524d\u7dcf\u88c1\u306b\u3088\u3063\u3066\u4f5c\u308a\u4e0a\u3052\u3089\u308c\u305f\u308f\u3051\u3067\u3042\u308b\u3002<\/p>\n\n\n\n \u305d\u3057\u3066\u3001\u30a2\u30e1\u30ea\u30ab\u3067\u3082\u540c\u3058\u3088\u3046\u306b\u7c73\u56fd\u50b5\u306e\u8cb7\u3044\u624b\u4e0d\u8db3\u304c\u554f\u984c\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n \u56fd\u50b5\u306e\u8cb7\u3044\u624b\u304c\u306a\u304f\u306a\u308c\u3070\u3001\u6700\u7d42\u7684\u306b\u306f\u4e2d\u592e\u9280\u884c\u304c\u7d19\u5e63\u3092\u5370\u5237\u3057\u3066\u8cb7\u3044\u53d6\u308b\u3057\u304b\u306a\u3044\u306e\u306f\u3069\u306e\u56fd\u3067\u3082\u540c\u3058\u3067\u3042\u308b\u3002<\/p>\n\n\n\n \u305d\u3057\u3066\u901a\u8ca8\u306e\u4fa1\u5024\u304c\u72a0\u7272\u306b\u306a\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n \u30a2\u30e1\u30ea\u30ab\u3067\u3082\u305d\u3046\u306a\u308b\u3068\u3044\u3046\u306e\u304c\u308f\u305f\u3057\u306e\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3060\u3002<\/p>\n\n\n\n \u8ca1\u653f\u8d64\u5b57\u304c\u3053\u306e\u307e\u307e\u306b\u306a\u308c\u3070\u3001\u5e02\u5834\u304c\u91d1\u5229\u3092\u6c7a\u3081\u308b\u3088\u3046\u306a\u72b6\u6cc1\u306f\u3044\u305a\u308c\u8a31\u5bb9\u3067\u304d\u306a\u304f\u306a\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n Bridgewater\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306f\u3001\u65b0\u8457\u300eHow Countries Go Broke<\/a>\u300f\uff08\u4eee\u8a33\uff1a\u306a\u305c\u56fd\u5bb6\u306f\u7834\u7dbb\u3059\u308b\u306e\u304b\uff09\u3067\u30a2\u30e1\u30ea\u30ab\u306f\u50b5\u52d9\u554f\u984c\u3092\u89e3\u6c7a\u3059\u308b\u305f\u3081\u306b\u30c9\u30eb\u306e\u4fa1\u5024\u3092\u72a0\u7272\u306b\u3059\u308b\u3068\u3044\u3046\u3001\u540c\u3058\u30b7\u30ca\u30ea\u30aa\u3092\u63d0\u5531\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n \u305d\u306e\u672c\u306e\u4e2d\u3067\u3001\u65e5\u672c\u306e\u30a2\u30d9\u30ce\u30df\u30af\u30b9\u306f\u56fd\u5bb6\u304c\u50b5\u52d9\u51e6\u7406\u306b\u5931\u6557\u3057\u305f\u4e8b\u4f8b\u3068\u3057\u3066\u8a73\u3057\u304f\u89e3\u8aac\u3055\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n \u30c9\u30eb\u306f\u3001\u5186\u306f\u3001\u3069\u3046\u306a\u308b\u306e\u3060\u308d\u3046\u304b\u3002\u30c0\u30ea\u30aa\u6c0f\u306e\u8457\u66f8\u306f\u65e5\u672c\u8a9e\u7248\u306f\u306a\u3044\u304c\u3001\u82f1\u8a9e\u304c\u8aad\u3081\u308b\u4eba\u306f\u305d\u3061\u3089\u3082\u53c2\u8003\u306b\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n \u5f15\u304d\u7d9a\u304d\u3001DoubleLine Capital\u5275\u696d\u8005\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u3001Bloomberg\u306b\u3088\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\u308b\u3002 \u4eca\u56de\u306f\u3001\u6700\u8fd1\u91d1\u5229\u4e0a\u6607\u304c\u554f\u984c\u306b\u306a\u3063\u3066\u3044\u308b\u65e5\u672c\u56fd\u50b5\u306b\u3064\u3044\u3066\u9a19\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":[104,108],"tags":[131],"class_list":["post-72884","post","type-post","status-publish","format-standard","hentry","category-japanese-bond-market","category-bond-markets","tag-jeffrey-gundlach"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/72884","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=72884"}],"version-history":[{"count":33,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/72884\/revisions"}],"predecessor-version":[{"id":72918,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/72884\/revisions\/72918"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=72884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=72884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=72884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/12\/2025-12-16-japan-10-year-government-bond-yield-chart.png\")
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<\/a>
How Countries Go Broke<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"