{"id":73561,"date":"2026-04-25T20:00:00","date_gmt":"2026-04-25T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=73561"},"modified":"2026-04-25T18:06:20","modified_gmt":"2026-04-25T09:06:20","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%e3%81%af%e7%b1%b3%e5%9b%bd%e5%82%b5%e3%81%ae%e5%88%a9%e6%89%95%e3%81%84%e3%82%92%e5%81%9c%e6%ad%a2","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/73561","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306f\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u3092\u505c\u6b62\u3059\u308b\u3001\u305d\u3057\u3066\u305d\u3046\u3059\u3079\u304d\u3060"},"content":{"rendered":"\n<p>DoubleLine Capial\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cThe Julia La Roche\u306b\u304a\u3051\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u52d9\u554f\u984c\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u539f\u6cb9\u4fa1\u683c\u4e0a\u6607\u3068\u30a2\u30e1\u30ea\u30ab\u5229\u4e0a\u3052<\/strong><\/p>\n\n\n\n<p>\u524d\u56de\u306e\u8a18\u4e8b\u3067\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u30a4\u30e9\u30f3\u60c5\u52e2\u306b\u3088\u308b\u539f\u6cb9\u4fa1\u683c\u306e\u9ad8\u9a30\u304c\u539f\u56e0\u3067\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u308a\u3001Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u304c\u5229\u4e0a\u3052\u306b\u8ffd\u3044\u8fbc\u307e\u308c\u308b\u53ef\u80fd\u6027\u3092\u6307\u6458\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\/73560\" data-type=\"post\" data-id=\"73560\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u304c\u5229\u4e0a\u3052\u3057\u3066\u682a\u5f0f\u5e02\u5834\u306b\u51b7\u6c34\u3092\u6d74\u3073\u305b\u308b\u53ef\u80fd\u6027<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30db\u30eb\u30e0\u30ba\u6d77\u5ce1\u306e\u5c01\u9396\u306b\u4f34\u3046\u539f\u6cb9\u4e0d\u8db3\u304c\u9577\u671f\u7684\u306a\u554f\u984c\u3068\u306a\u308c\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u8db3\u304b\u305b\u3068\u306a\u3063\u3066Fed\u306f\u7c21\u5358\u306b\u5229\u4e0b\u3052\u304c\u3067\u304d\u306a\u304f\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u3069\u3053\u308d\u304b\u5229\u4e0a\u3052\u306b\u8ffd\u3044\u8fbc\u307e\u308c\u308b\u53ef\u80fd\u6027\u3082\u3042\u308b\u3068\u3044\u3046\u306e\u304c\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u6307\u6458\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304c\u672c\u5f53\u306b\u6c17\u306b\u3057\u3066\u3044\u308b\u306e\u306f\u3001\u91d1\u5229\u306e\u9577\u671f\u7684\u306a\u52d5\u5411\u306e\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u9577\u671f\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\/2026\/04\/2026-4-25-us-10-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"570\" height=\"497\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2026\/04\/2026-4-25-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-73598\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2026\/04\/2026-4-25-us-10-year-treasury-bond-yield-chart.png 570w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2026\/04\/2026-4-25-us-10-year-treasury-bond-yield-chart-300x262.png 300w\" sizes=\"auto, (max-width: 570px) 100vw, 570px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u7c73\u56fd\u306e\u91d1\u5229\u306e\u52d5\u5411\u4e88\u60f3<\/strong><\/p>\n\n\n\n<p>2022\u5e74\u306b\u30a4\u30f3\u30d5\u30ec\u3067\u91d1\u5229\u304c\u4e0a\u6607\u3057\u3066\u304b\u3089\u3001\u9577\u671f\u91d1\u5229\u306f\u9ad8\u6b62\u307e\u308a\u3057\u3066\u3044\u308b\u3002\u50b5\u5238\u5e02\u5834\u306f\u91d1\u5229\u304c\u3053\u3053\u304b\u3089\u4e0a\u304c\u3063\u3066\u3086\u304f\u3068\u3082\u4e0b\u304c\u3063\u3066\u3086\u304f\u3068\u3082\u6c7a\u3081\u304b\u306d\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u91d1\u5229\u306f\u9577\u671f\u7684\u306b\u4e0a\u304c\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u3088\u3046\u3060\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>\u9577\u671f\u91d1\u5229\u306f\u4e0a\u6607\u3092\u7d9a\u3051\u3001\u305d\u308c\u306f\u7121\u8996\u3059\u308b\u306e\u304c\u96e3\u3057\u3044\u96e3\u5c40\u3092\u751f\u3058\u3055\u305b\u308b\u307e\u3067\u7d9a\u304f\u3002\u305d\u306e\u6c34\u6e96\u306f\u6050\u3089\u304f6%\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u305d\u306e\u7406\u7531\u306f\u3001\u653f\u6cbb\u5bb6\u306f\u5e02\u5834\u304c\u305d\u308c\u3092\u6b62\u3081\u308b\u307e\u3067\u3001\u652f\u51fa\u3092\u5897\u3084\u3059\u3053\u3068\u3092\u6b62\u3081\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3060\u308d\u3046\u3002\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u3001\u652f\u51fa\u3092\u6e1b\u3089\u3059\u3053\u3068\u3067\u306f\u306a\u304f\u91d1\u878d\u7de9\u548c\u3067\u4eba\u5de5\u7684\u306b\u91d1\u5229\u3092\u4e0b\u3052\u308b\u3053\u3068\u306b\u3088\u3063\u3066\u8ca1\u653f\u554f\u984c\u3092\u89e3\u6c7a\u3057\u3088\u3046\u3068\u3057\u3066\u3044\u308b\u3002\u3060\u304c\u305d\u306e\u3084\u308a\u65b9\u306f\u30a4\u30f3\u30d5\u30ec\u3092\u62db\u304f\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\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>\u30a4\u30f3\u30d5\u30ec\u3067\u91d1\u5229\u304c\u8a31\u5bb9\u7bc4\u56f2\u3092\u8d85\u3048\u3066\u4e0a\u6607\u3059\u308b\u307e\u3067\u3001\u653f\u6cbb\u5bb6\u306f\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u3092\u6b62\u3081\u306a\u3044\u3002\u3060\u304b\u3089\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u3001\u501f\u91d1\u306b\u4f9d\u5b58\u3057\u305f\u7d4c\u6e08\u653f\u7b56\u3068\u3044\u3046\u30c8\u30ec\u30f3\u30c9\u3092\u6b62\u3081\u308b\u306e\u306f\u653f\u6cbb\u5bb6\u3067\u306f\u306a\u304f\u3001\u91d1\u878d\u5e02\u5834\u3060\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\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>\u9577\u671f\u91d1\u5229\u304c6%\u7a0b\u5ea6\u307e\u3067\u4e0a\u304c\u308c\u3070\u3001\u4eba\u3005\u306f\u8a08\u7b97\u3092\u59cb\u3081\u30012\u5146\u30c9\u30eb\u3092\u8d85\u3048\u308b\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u306b\u5bfe\u51e6\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3068\u3044\u3046\u4e8b\u614b\u306b\u6c17\u3065\u304d\u59cb\u3081\u308b\u3060\u308d\u3046\u3002\u3053\u306e\u91d1\u984d\u306f\u3082\u3046\u3069\u3046\u3057\u3088\u3046\u3082\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u306a\u305c\u91d1\u5229\u4e0a\u6607\u304c\u554f\u984c\u3068\u306a\u308b\u306e\u304b\u3002\u56fd\u50b5\u306b\u306f\u5229\u6255\u3044\u304c\u3042\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30bc\u30ed\u91d1\u5229\u3060\u3063\u305f\u9593\u306f\u3001\u3069\u308c\u3060\u3051\u501f\u91d1\u3092\u5897\u3084\u3057\u3066\u3082\u554f\u984c\u304c\u306a\u3044\u3088\u3046\u306b\u898b\u3048\u305f\u3002\u3060\u304c\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u304c\u672c\u5f53\u306b\u30a4\u30f3\u30d5\u30ec\u3092\u767a\u751f\u3055\u305b\u3066\u3057\u307e\u3046\u3068\u3001\u91d1\u5229\u3092\u4e0a\u3052\u3056\u308b\u3092\u5f97\u306a\u304f\u306a\u308a\u3001\u56fd\u50b5\u306b\u306f\u5229\u6255\u3044\u304c\u751f\u3058\u59cb\u3081\u308b\u3002\u305d\u3057\u3066\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u91d1\u5229\u4e0a\u6607\u306e\u305f\u3081\u306b\u56fd\u50b5\u306e\u5229\u6255\u3044\u306f\u8ca1\u653f\u8d64\u5b57\u306e\u534a\u5206\u307b\u3069\u306b\u9054\u3057\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u50b5\u52d9\u306e\u6307\u6570\u95a2\u6570\u7684\u4e0a\u6607<\/strong><\/p>\n\n\n\n<p>\u56fd\u50b5\u306b\u5229\u6255\u3044\u304c\u767a\u751f\u3057\u59cb\u3081\u308b\u3068\u3001\u56fd\u306e\u501f\u91d1\u306e\u91cf\u306f\u653f\u6cbb\u5bb6\u306e\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3092\u59cb\u3081\u3001\u6307\u6570\u95a2\u6570\u7684\u5897\u52a0\u3092\u958b\u59cb\u3059\u308b\u3002\u5229\u6255\u3044\u304c\u65b0\u305f\u306a\u56fd\u50b5\u767a\u884c\u306b\u3088\u3063\u3066\u8cc4\u308f\u308c\u308b\u306a\u3089\u3001\u305d\u306e\u5206\u501f\u91d1\u304c\u6bce\u5e74\u5897\u3048\u3066\u3086\u304f\u3068\u3044\u3046\u3053\u3068\u3060\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3046\u3059\u308c\u3070\u3001\u8907\u5229\u52b9\u679c\u306b\u3088\u3063\u3066\u3001\u666f\u6c17\u5f8c\u9000\u306a\u3069\u7d4c\u6e08\u7684\u306a\u5371\u6a5f\u304c\u306a\u304f\u3068\u308210\u5e74\u304b20\u5e74\u3067\u50b5\u52d9\u306e\u91cf\u304c\u3069\u3046\u3057\u3088\u3046\u3082\u306a\u304f\u306a\u308b\u3053\u3068\u306f\u3001\u8907\u5229\u3068\u3044\u3046\u3082\u306e\u3092\u77e5\u3063\u3066\u3044\u308b\u4eba\u306a\u3089\u3070\u8ab0\u3067\u3082\u5206\u304b\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u5b9f\u969b\u306b\u306f\u3001\u30de\u30af\u30ed\u7d4c\u6e08\u306e\u4e16\u754c\u3067\u306f10\u5e74\u306b1\u56de\u307b\u3069\u666f\u6c17\u5f8c\u9000\u304c\u8d77\u304d\u308b\u306e\u3067\u3001\u305d\u306e\u6642\u306b\u306f\u65e2\u306b\u3069\u3046\u306b\u3082\u306a\u3089\u306a\u304f\u306a\u3063\u3066\u3044\u308b\u501f\u91d1\u3092\u66f4\u306b\u5897\u3084\u3057\u3066\u4e0d\u6cc1\u5bfe\u7b56\u3092\u3059\u308b\u306e\u304b\u3001\u3042\u308b\u3044\u306f\u8ae6\u3081\u3066\u666f\u6c17\u5f8c\u9000\u3092\u53d7\u3051\u5165\u308c\u308b\u306e\u304b\u3069\u3061\u3089\u3092\u9078\u3076\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u5927\u62b5\u306e\u5834\u5408\u306f\u3001\u653f\u6cbb\u5bb6\u306f\u501f\u91d1\u3092\u5897\u3084\u3059\u3053\u3068\u3092\u9078\u3073\u3001\u305d\u3057\u3066\u56fd\u50b5\u306e\u767a\u884c\u91cf\u304c\u5e02\u5834\u306e\u8cb7\u3044\u652f\u3048\u3089\u308c\u308b\u7bc4\u56f2\u3092\u8d85\u3048\u3001\u56fd\u50b5\u306e\u4fa1\u683c\u306f\u4e0b\u843d\u3057\u3001\u91d1\u5229\u306f\u4e0a\u6607\u3001\u653f\u5e9c\u306e\u8ca1\u653f\u306f\u66f4\u306b\u60aa\u304f\u306a\u308a\u3001\u8ca0\u306e\u30eb\u30fc\u30d7\u3078\u3068\u7a81\u5165\u3057\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/71582\" data-type=\"post\" data-id=\"71582\">\u30b0\u30e9\u30e0\u6c0f: \u56fd\u5bb6\u306f\u501f\u91d1\u306e\u8fd4\u6e08\u3067\u306f\u306a\u304f\u501f\u91d1\u306e\u5229\u6255\u3044\u3067\u7834\u7dbb\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\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>\u305d\u3057\u3066\u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u52d9\u518d\u7de8\u3068\u3044\u3046\u8003\u3048\u304c\u8b70\u8ad6\u3055\u308c\u59cb\u3081\u308b\u3002<\/p>\n\n\n\n<p>\u6065\u3092\u5fcd\u3093\u3067\u30bd\u30d5\u30c8\u306a\u30c7\u30d5\u30a9\u30eb\u30c8\u3092\u3084\u308b\u306e\u3060\u3002\u4f8b\u3048\u3070\u5229\u6255\u3044\u3092\u8ae6\u3081\u308b\u3002\u305d\u3046\u306a\u308c\u3070\u3069\u3046\u306a\u308b\u304b\u3068\u8a00\u3048\u3070\u3001\u30a2\u30e1\u30ea\u30ab\u306f\u3053\u308c\u304b\u3089\u6570\u4e16\u4ee3\u307b\u3069\u306e\u9593\u304a\u91d1\u3092\u501f\u308a\u3089\u308c\u306a\u304f\u306a\u308b\u3002\u9577\u671f\u306e\u7c73\u56fd\u50b5\u306e\u4fa1\u683c\u306f\u5730\u306b\u843d\u3061\u3001\u8ab0\u3082\u7c73\u56fd\u50b5\u3092\u4fe1\u7528\u3057\u306a\u304f\u306a\u308b\u304b\u3089\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u8ab0\u3082\u304c\u305d\u3093\u306a\u3053\u3068\u306f\u8d77\u304d\u306a\u3044\u3068\u8003\u3048\u3066\u304d\u305f\u3002\u5148\u9032\u56fd\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u306a\u3044\u3068\u8ab0\u3082\u304c\u601d\u3063\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<p>\u6b74\u53f2\u3092\u5c11\u3057\u3067\u3082\u52c9\u5f37\u3057\u3066\u3044\u308c\u3070\u305d\u3046\u3067\u306f\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u304c\u5206\u304b\u308b\u306e\u306b\u3001\u8ab0\u3082\u52c9\u5f37\u3057\u306a\u304b\u3063\u305f\u306e\u3060\u308d\u3046\u3002Bridgewater\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306f\u8457\u66f8\u300e<a href=\"https:\/\/amzn.to\/3IWcV1T\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a>\u300f\u306b\u304a\u3044\u3066\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u524d\u306b\u8987\u6a29\u56fd\u5bb6\u3060\u3063\u305f\u30a4\u30ae\u30ea\u30b9\u3084\u30aa\u30e9\u30f3\u30c0\u306f\u307e\u3055\u306b\u305d\u306e\u3088\u3046\u306b\u3057\u3066\u7834\u7dbb\u3057\u3066\u3044\u3063\u305f\u3068\u89e3\u8aac\u3057\u3066\u304f\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u4eba\u3005\u306f\u30a2\u30e1\u30ea\u30ab\u306f\u305d\u3046\u306a\u3089\u306a\u3044\u3068\u8003\u3048\u3066\u3044\u308b\u3002\u6839\u62e0\u306f\u306a\u3044\u3002\u30a2\u30e1\u30ea\u30ab\u306f\u8987\u6a29\u56fd\u5bb6\u3060\u304b\u3089\u304b\uff1f\u3000\u3060\u304c\u8987\u6a29\u56fd\u5bb6\u306f\u6b74\u53f2\u4e0a\u5b9f\u969b\u306b\u7834\u7dbb\u3057\u3066\u3044\u308b\u306e\u3067\u3042\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\u3001\u300c\u30bd\u30d5\u30c8\u306a\u30c7\u30d5\u30a9\u30eb\u30c8\u300d\u3068\u3044\u3046\u3001\u3053\u3053\u306e\u8aad\u8005\u306a\u3089\u3070\u307e\u3055\u306b\u3042\u308a\u305d\u3046\u3060\u3068\u601d\u3046\u30b7\u30ca\u30ea\u30aa\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002\u3060\u304c\u3001\u5229\u6255\u3044\u3092\u505c\u6b62\u3059\u308c\u3070\u8ab0\u3082\u30a2\u30e1\u30ea\u30ab\u306b\u304a\u91d1\u3092\u8cb8\u3055\u306a\u304f\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30a2\u30e1\u30ea\u30ab\u306f\u307e\u3055\u306b\u305d\u3046\u306a\u308b\u3079\u304d\u3060\u3068\u8a00\u3063\u3066\u3044\u308b\u3002\u5f7c\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>\u3060\u304c\u76ae\u8089\u306a\u3053\u3068\u306b\u3001\u305d\u308c\u3053\u305d\u304c\u50b5\u52d9\u554f\u984c\u3078\u306e\u89e3\u6c7a\u7b56\u3060\u3002\u304a\u91d1\u304c\u501f\u308a\u3089\u308c\u306a\u3051\u308c\u3070\u3001\u53ce\u652f\u3092\u5408\u308f\u305b\u308b\u3057\u304b\u306a\u304f\u306a\u308b\u3002\u3060\u304c\u30a2\u30e1\u30ea\u30ab\u306f\u305d\u3046\u3059\u3079\u304d\u3060\u3002\u3053\u308c\u4ee5\u4e0a\u501f\u91d1\u306b\u4f9d\u5b58\u3057\u305f\u7d4c\u6e08\u3092\u7d9a\u3051\u308b\u3079\u304d\u3067\u306f\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u7834\u7dbb\u304b\u3089\u306e\u7d4c\u6e08\u306e\u30ea\u30bb\u30c3\u30c8\u3067\u3042\u308b\u3002\u30c9\u30eb\u3068\u7c73\u56fd\u50b5\u3092\u6301\u3063\u3066\u3044\u308b\u4eba\u306f\u72a0\u7272\u306b\u306a\u308b\u3060\u308d\u3046\u304c\u3001\u30a4\u30ae\u30ea\u30b9\u3084\u30aa\u30e9\u30f3\u30c0\u306e\u30b1\u30fc\u30b9\u3067\u3082\u5b9f\u969b\u306b\u305d\u3046\u306a\u3063\u305f\u306e\u3067\u3042\u308b\u3002\u4f55\u306e\u4e0d\u601d\u8b70\u304c\u3042\u308b\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u30ea\u30bb\u30c3\u30c8\u306e\u5f15\u304d\u91d1\u3092\u5f15\u304f\u306e\u306f\u7c73\u56fd\u50b5\u306e\u5229\u6255\u3044\u304c\u9650\u754c\u306b\u9054\u3059\u308b\u3053\u3068\u3060\u3068\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u8a00\u3063\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u7d19\u5e63\u304c\u5370\u5237\u3055\u308c\u3001\u30c9\u30eb\u304c\u72a0\u7272\u306b\u306a\u308b\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>\u3060\u304b\u3089\u7206\u767a\u7684\u306b\u5897\u3048\u3066\u3086\u304f\u5229\u6255\u3044\u3092\u7121\u8996\u3067\u304d\u306a\u304f\u306a\u308b\u3068\u3044\u3046\u306e\u304c\u5f15\u304d\u91d1\u306b\u306a\u308b\u3060\u308d\u3046\u3002\u305d\u3046\u3067\u306a\u3051\u308c\u3070\u3001\u30c9\u30eb\u306e\u4fa1\u5024\u3092\u4e0b\u3052\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u5b89\u304f\u306a\u3063\u305f\u30c9\u30eb\u3067\u501f\u91d1\u3092\u8fd4\u3059\u304c\u3001\u305d\u306e\u4ee3\u308f\u308a\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4f55\u5ea6\u3082\u8a00\u3046\u304c\u3001\u305d\u308c\u306f\u6b74\u53f2\u4e0a\u306e\u4e8b\u4f8b\u3092\u304d\u3061\u3093\u3068\u52c9\u5f37\u3057\u305f\u4eba\u306b\u3068\u3063\u3066\u306f\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3067\u3042\u308b\u3002\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304c\u30a2\u30e1\u30ea\u30ab\u304c\u3053\u3046\u306a\u308b\u3053\u3068\u3092\u898b\u8d8a\u3057\u3066\u3001\u30a4\u30ae\u30ea\u30b9\u3084\u30aa\u30e9\u30f3\u30c0\u306a\u3069\u306e\u8987\u6a29\u56fd\u5bb6\u304c\u5b9f\u969b\u305d\u3046\u306a\u3063\u305f\u7d4c\u7def\u3092\u8457\u66f8\u300e<a href=\"https:\/\/amzn.to\/3IWcV1T\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a>\u300f\u306b\u304a\u3044\u3066\u8a73\u3057\u304f\u89e3\u8aac\u3057\u3066\u304f\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u3092\u52c9\u5f37\u3057\u305f\u4eba\u3060\u3051\u304c\u3001\u30c9\u30eb\u3084\u7c73\u56fd\u50b5\u306e\u904b\u547d\u3092\u6b63\u3057\u304f\u4e88\u60f3\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3002\u305d\u3057\u3066\u3001\u305d\u308c\u306f\u4eca\u5f8c\u6570\u5341\u5e74\u306e\u4e16\u754c\u7d4c\u6e08\u3092\u751f\u304d\u629c\u304f\u4e0a\u3067\u5fc5\u9808\u306e\u77e5\u8b58\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><a href=\"https:\/\/amzn.to\/3xlpTUc\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/m.media-amazon.com\/images\/I\/81CZHKszf9L._SL160_.jpg\"><\/a><br><a href=\"https:\/\/amzn.to\/3xlpTUc\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DoubleLine Capial\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u304cThe Julia La Roche\u306b\u304a\u3051\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u52d9\u554f\u984c\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":[131],"class_list":["post-73561","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets","tag-jeffrey-gundlach"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/73561","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=73561"}],"version-history":[{"count":31,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/73561\/revisions"}],"predecessor-version":[{"id":73620,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/73561\/revisions\/73620"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=73561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=73561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=73561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}