{"id":9189,"date":"2020-03-20T20:55:23","date_gmt":"2020-03-20T11:55:23","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=9189"},"modified":"2020-03-20T21:09:38","modified_gmt":"2020-03-20T12:09:38","slug":"%e6%96%b0%e5%9e%8b%e3%82%b3%e3%83%ad%e3%83%8a%e6%a0%aa%e5%ae%89%e3%80%81%e9%95%b7%e6%9c%9f%e9%87%91%e5%88%a9%e3%81%ae%e5%8b%95%e5%90%91%e3%82%922018%e5%b9%b4%e4%b8%96%e7%95%8c%e5%90%8c%e6%99%82","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9189","title":{"rendered":"\u65b0\u578b\u30b3\u30ed\u30ca\u682a\u5b89\u3001\u9577\u671f\u91d1\u5229\u306e\u52d5\u5411\u30922018\u5e74\u4e16\u754c\u540c\u6642\u682a\u5b89\u3068\u6bd4\u8f03\u3059\u308b"},"content":{"rendered":"\n<p>\u65b0\u578b\u30b3\u30ed\u30ca\u30a6\u30a3\u30eb\u30b9\u80ba\u708e\u304c\u4e16\u754c\u7684\u6d41\u884c\u3068\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u3067\u682a\u5f0f\u5e02\u5834\u306e\u66b4\u843d\u304c\u30cb\u30e5\u30fc\u30b9\u306b\u306a\u3063\u3066\u3044\u308b\u304c\u3001\u4e00\u90e8\u306e\u30d7\u30ed\u306e\u9593\u3067\u306f\u50b5\u5238\u3068\u91d1\u5229\u306e\u5024\u52d5\u304d\u306e\u65b9\u304c\u5371\u6a5f\u7684\u3060\u3068\u8a71\u984c\u306b\u306a\u3063\u3066\u3044\u308b\u3002\u524d\u56de\u306e\u8a18\u4e8b\u3067\u3082\u8aac\u660e\u3057\u305f\u901a\u308a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9163\">\u30c9\u30eb\u5186\u4e0a\u6607\u304c\u793a\u3059\u4e16\u754c\u7684\u5012\u7523\u30e9\u30c3\u30b7\u30e5\u306e\u53ef\u80fd\u6027<\/a><\/li><\/ul>\n\n\n\n<p>\u3057\u304b\u3057\u4f55\u6545\u305d\u3046\u306a\u306e\u304b\u3068\u3044\u3046\u3053\u3068\u306f\u4e00\u822c\u306e\u6295\u8cc7\u5bb6\u306b\u306f\u5b9f\u611f\u304c\u96e3\u3057\u3044\u3060\u308d\u3046\u3002\u3088\u3063\u3066\u3082\u3046\u5c11\u3057\u30c1\u30e3\u30fc\u30c8\u3092\u4ea4\u3048\u306a\u304c\u3089\u89e3\u8aac\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u682a\u4fa1\u3068\u91d1\u5229<\/strong><\/p>\n\n\n\n<p>\u307e\u305a\u306f\u7c73\u56fd\u682a\u306e\u30c1\u30e3\u30fc\u30c8\u304b\u3089\u63b2\u8f09\u3057\u3088\u3046\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"612\" height=\"379\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-9190\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-s-and-p-500-chart.png 612w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-s-and-p-500-chart-300x186.png 300w\" sizes=\"auto, (max-width: 612px) 100vw, 612px\" \/><\/figure>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u3053\u306e\u9593\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u4e2d\u592e\u9280\u884c\u306f3\u67082\u65e5\u30683\u670815\u65e5\u306b\u7dca\u6025\u5229\u4e0b\u3052\u3092\u884c\u3044\u30bc\u30ed\u91d1\u5229\u307e\u3067\u306e\u5927\u5e45\u5229\u4e0b\u3052\u3092\u884c\u3063\u305f\u304c\u3001\u682a\u5b89\u306f\u6b62\u307e\u3063\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/8879\">\u7c73\u56fd\u3001\u65b0\u578b\u80ba\u708e\u5bfe\u7b56\u30670.5%\u306e\u7dca\u6025\u5229\u4e0b\u3052\u5b9f\u65bd\u3082\u7c73\u56fd\u682a\u5927\u5e45\u5b89<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9032\">\u7c73\u56fd\u3001\u7dca\u6025\u4f1a\u5408\u3067\u30bc\u30ed\u91d1\u5229\u307e\u3067\u5229\u4e0b\u3052\u3057\u91cf\u7684\u7de9\u548c\u3092\u6b63\u5f0f\u306b\u518d\u958b\u3000\u66b4\u843d\u6642\u306e\u8ffd\u52a0\u7de9\u548c\u304c\u4e0d\u53ef\u80fd\u306b<\/a><\/li><\/ul>\n\n\n\n<p>\u682a\u4fa1\u304c\u4e0b\u843d\u3059\u308b\u3068\u304d\u3001\u901a\u5e38\u3067\u3042\u308c\u3070\u5e02\u5834\u3067\u306f\u8ffd\u52a0\u7de9\u548c\u3092\u671f\u5f85\u3057\u3066\u91d1\u5229\u304c\u4e0b\u304c\u308b\u306f\u305a\u3067\u3042\u308b\u3002\u3067\u306f\u30a2\u30e1\u30ea\u30ab\u9577\u671f\u91d1\u5229\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u3060\u308d\u3046\u304b\uff1f<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"785\" height=\"500\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart.png\" alt=\"\" class=\"wp-image-9194\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart.png 785w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart-300x191.png 300w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart-768x489.png 768w\" sizes=\"auto, (max-width: 785px) 100vw, 785px\" \/><\/figure>\n\n\n\n<p>3\u67089\u65e5\u307e\u3067\u306f\u91d1\u5229\u4f4e\u4e0b\u3067\u53cd\u5fdc\u3057\u3066\u3044\u308b\u304c\u30010.4%\u3068\u3044\u3046\u4f4e\u6c34\u6e96\u307e\u3067\u4f4e\u4e0b\u3057\u305f\u3042\u3068\u4e0a\u6607\u306b\u8ee2\u3058\u3066\u3044\u308b\u3002\u3057\u304b\u3082\u305d\u306e\u9593\u682a\u4fa1\u306f\u56de\u5fa9\u3057\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u52d5\u304d\u30922018\u5e74\u306e\u4e16\u754c\u540c\u6642\u682a\u5b89\u3068\u6bd4\u3079\u308b\u3068\u3069\u3046\u306a\u308b\u3060\u308d\u3046\u304b\uff1f\u3000\u307e\u305a\u306f\u5f53\u6642\u306e\u682a\u4fa1\u30c1\u30e3\u30fc\u30c8\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"604\" height=\"375\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2019\/05\/2019-5-1-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-8231\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2019\/05\/2019-5-1-s-and-p-500-chart.png 604w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2019\/05\/2019-5-1-s-and-p-500-chart-300x186.png 300w\" sizes=\"auto, (max-width: 604px) 100vw, 604px\" \/><\/figure>\n\n\n\n<p>\u305d\u3057\u3066\u3053\u3061\u3089\u304c\u540c\u6642\u671f\u306e\u9577\u671f\u91d1\u5229\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"785\" height=\"500\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2019-4-30-us-long-term-interest-rate-chart.png\" alt=\"\" class=\"wp-image-9196\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2019-4-30-us-long-term-interest-rate-chart.png 785w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2019-4-30-us-long-term-interest-rate-chart-300x191.png 300w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2019-4-30-us-long-term-interest-rate-chart-768x489.png 768w\" sizes=\"auto, (max-width: 785px) 100vw, 785px\" 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class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/7959\">\u4e16\u754c\u540c\u6642\u682a\u5b89\u3092\u4e88\u60f3\u3067\u304d\u305f\u7406\u7531\u3068\u682a\u4fa1\u4e0b\u843d\u306e\u539f\u56e0<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u4e0b\u304c\u3089\u306a\u3044\u9577\u671f\u91d1\u5229<\/strong><\/p>\n\n\n\n<p>\u3067\u306f\u73fe\u5728\u306e\u52d5\u304d\u306e\u4f55\u304c\u554f\u984c\u306a\u306e\u3060\u308d\u3046\u304b\u3002\u9577\u671f\u91d1\u5229\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u3082\u3046\u4e00\u5ea6\u63b2\u8f09\u3057\u3088\u3046\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"785\" height=\"500\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart.png\" alt=\"\" class=\"wp-image-9194\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart.png 785w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart-300x191.png 300w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart-768x489.png 768w\" sizes=\"auto, (max-width: 785px) 100vw, 785px\" \/><\/figure>\n\n\n\n<p>\u682a\u4fa1\u304c\u4e0b\u843d\u3057\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u9577\u671f\u91d1\u5229\u304c\u4e0a\u6607\u3067\u53cd\u5fdc\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u7406\u7531\u306e1\u3064\u306f\u524d\u56de\u306e\u8a18\u4e8b\u3067\u89e3\u8aac\u3057\u305f\u3088\u3046\u306b\u3001\u65b0\u578b\u30a6\u30a3\u30eb\u30b9\u306b\u3088\u3063\u3066\u8ca1\u653f\u306e\u5371\u3046\u3044\u4f01\u696d\u306e\u5012\u7523\u304c\u61f8\u5ff5\u3055\u308c\u3066\u304a\u308a\u3001\u793e\u50b5\u306e\u91d1\u5229\u304c\u6025\u9a30\u3057\u3066\u3044\u308b\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9163\">\u30c9\u30eb\u5186\u4e0a\u6607\u304c\u793a\u3059\u4e16\u754c\u7684\u5012\u7523\u30e9\u30c3\u30b7\u30e5\u306e\u53ef\u80fd\u6027<\/a><\/li><\/ul>\n\n\n\n<p>\u50b5\u5238\u306e\u91d1\u5229\u4e0a\u6607\u306f\u4fa1\u683c\u4e0b\u843d\u3092\u610f\u5473\u3059\u308b\u306e\u3067\u3001\u4fe1\u7528\u306e\u4f4e\u3044\u793e\u50b5\u3092\u96c6\u3081\u305f\u30b8\u30e3\u30f3\u30af\u50b5ETF\u306e\u4fa1\u683c\u306f\u66b4\u843d\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"612\" height=\"379\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-ishares-iboxx-high-yield-corporate-bond-etf-nysearca-hyg-chart.png\" alt=\"\" class=\"wp-image-9197\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-ishares-iboxx-high-yield-corporate-bond-etf-nysearca-hyg-chart.png 612w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-ishares-iboxx-high-yield-corporate-bond-etf-nysearca-hyg-chart-300x186.png 300w\" sizes=\"auto, (max-width: 612px) 100vw, 612px\" 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class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"785\" height=\"500\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart.png\" alt=\"\" class=\"wp-image-9194\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart.png 785w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart-300x191.png 300w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart-768x489.png 768w\" sizes=\"auto, (max-width: 785px) 100vw, 785px\" \/><\/figure>\n\n\n\n<p>\u65b0\u578b\u30b3\u30ed\u30ca\u524d\u306e\u6570\u5b57\u3060\u304c\u65e5\u672c\u3084\u30e8\u30fc\u30ed\u30c3\u30d1\u3068\u9055\u3044\u30a2\u30e1\u30ea\u30ab\u306f\u307e\u30602%\u4ee5\u4e0a\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u7dad\u6301\u3057\u3066\u304a\u308a\u3001\u30b3\u30ed\u30ca\u524d\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u304c\u307b\u3068\u3093\u3069\u306a\u3044\u65e5\u672c\u3084\u30e8\u30fc\u30ed\u30c3\u30d1\u3068\u4f3c\u305f\u91d1\u5229\u6c34\u6e96\u306b\u306a\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u7406\u306b\u304b\u306a\u308f\u306a\u3044\u3002\u3064\u307e\u308a\u3001\u91d1\u5229\u306f\u4e0b\u304c\u308d\u3046\u306b\u3082\u4e0b\u304c\u308b\u4f59\u5730\u304c\u305d\u3082\u305d\u3082\u306a\u304b\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u682a\u5b89\u3067\u91d1\u5229\u4e0a\u6607\u306e\u610f\u5473<\/strong><\/p>\n\n\n\n<p>\u7e70\u308a\u8fd4\u3057\u306b\u306a\u308b\u304c\u3053\u308c\u306f\u5371\u6a5f\u7684\u72b6\u6cc1\u3067\u3042\u308b\u30022008\u5e74\u306e\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u306e\u9803\u3067\u3055\u3048\u3001\u56fd\u50b5\u306e\u4fa1\u683c\u306f\u4e0a\u6607\u3057\u91d1\u5229\u306f\u4e0b\u304c\u3063\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/4454\">\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3067\u6025\u843d\u3057\u305f\u91d1\u4fa1\u683c\u3001\u4e0a\u6607\u3057\u305f\u7c73\u56fd\u50b5<\/a><\/li><\/ul>\n\n\n\n<p>\u91d1\u5229\u304c\u4e0b\u304c\u308b\u3053\u3068\u81ea\u4f53\u304c\u7de9\u548c\u52b9\u679c\u3092\u767a\u63ee\u3057\u682a\u5b89\u3092\u548c\u3089\u3052\u308b\u306e\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u30a2\u30e1\u30ea\u30ab\u3067\u3082\u91d1\u5229\u304c\u30bc\u30ed\u91d1\u5229\u3068\u3044\u3046\u5e8a\u306b\u5230\u9054\u3057\u3066\u3057\u307e\u3063\u305f\u305f\u3081\u3001\u8df3\u306d\u8fd4\u3063\u3066\u304f\u308b\u72b6\u6cc1\u3068\u306a\u3063\u3066\u3044\u308b\u3002\u3064\u307e\u308a\u306f\u7de9\u548c\u306e\u9650\u754c\u306b\u9054\u3057\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306f\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3092\u904b\u7528\u3059\u308b\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306e\u4e88\u8a00\u3057\u305f\u72b6\u6cc1\u3067\u3042\u308b\u3002\u5f7c\u306f\u3053\u3046\u8ff0\u3079\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9099\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u7c73\u56fd\u306e\u30bc\u30ed\u91d1\u5229\u306f\u3059\u3079\u3066\u306e\u8cc7\u7523\u4fa1\u683c\u3092\u4e0b\u843d\u3055\u305b\u308b<\/a><\/li><\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u9577\u671f\u91d1\u5229\u304c\u30bc\u30ed\u306e\u786c\u3044\u5e8a\u306b\u5230\u9054\u3057\u3066\u3057\u307e\u3046\u3053\u3068\u306f\u5b9f\u8cea\u7684\u306b\u3059\u3079\u3066\u306e\u8cc7\u7523\u30af\u30e9\u30b9\u304c\u4e0b\u304c\u308b\u3053\u3068\u3092\u610f\u5473\u3059\u308b\u3002\u91d1\u5229\u4f4e\u4e0b\u306e\u597d\u5f71\u97ff\u304c\u306a\u304f\u306a\u308b\u3001\u3042\u308b\u3044\u306f\u5c11\u306a\u304f\u3068\u3082\u305d\u308c\u307b\u3069\u306f\u306a\u304f\u306a\u3063\u3066\u3057\u307e\u3046\u304b\u3089\u3067\u3042\u308b\u3002<\/p><p>\u4e2d\u592e\u9280\u884c\u306b\u3088\u308b\u5229\u4e0b\u3052\u3084\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u8a98\u5c0e\uff08\u8a33\u6ce8\uff1a\u65e5\u9280\u304c\u884c\u3046\u91d1\u5229\u8a98\u5c0e\u653f\u7b56\uff09\u306a\u3069\u306e\u91d1\u5229\u523a\u6fc0\u304c\u52b9\u304b\u306a\u304f\u306a\u308b\u3002\u4e2d\u592e\u9280\u884c\u306f\u7d19\u5e63\u3092\u5370\u5237\u3057\u50b5\u5238\u3092\u8cb7\u3046\u3053\u3068\u3092\u8a31\u3055\u308c\u3066\u3044\u308b\u304c\u3001\u3042\u307e\u308a\u52b9\u679c\u306f\u306a\u3044\u3060\u308d\u3046\u3002\u50b5\u5238\u306b\u4e0a\u6607\u4f59\u5730\u304c\u307b\u3068\u3093\u3069\u6b8b\u3063\u3066\u304a\u3089\u305a\u3001\u6295\u8cc7\u5bb6\u3082\u50b5\u5238\u3092\u58f2\u3063\u3066\u554f\u984c\u306b\u76f4\u9762\u3057\u3066\u3044\u308b\u4ed6\u306e\u30ea\u30b9\u30af\u8cc7\u7523\u3092\u8cb7\u304a\u3046\u3068\u3059\u308b\u3068\u306f\u8003\u3048\u304c\u305f\u3044\u3002<\/p><\/blockquote>\n\n\n\n<p>\u901a\u5e38\u3001\u91d1\u878d\u7de9\u548c\u3068\u306f\u91d1\u5229\u3092\u4e0b\u3052\u308b\u3053\u3068\u3067\u56fd\u50b5\u306e\u9b45\u529b\u3092\u4f4e\u4e0b\u3055\u305b\u3001\u6295\u8cc7\u5bb6\u306b\u3082\u3063\u3068\u30ea\u30b9\u30af\u306e\u9ad8\u3044\u8cc7\u7523\u3092\u8cb7\u308f\u305b\u308b\u653f\u7b56\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u56fd\u50b5\u306e\u91d1\u5229\u304c\u4e0b\u304c\u3089\u306a\u3044\u305f\u3081\u306b\u305d\u306e\u7de9\u548c\u52b9\u679c\u304c\u306a\u304f\u306a\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u4eca\u5f8c\u306e\u76f8\u5834\u52d5\u5411<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u554f\u984c\u306f\u65b0\u578b\u30a6\u30a3\u30eb\u30b9\u306e\u30d4\u30fc\u30af\u304c\u307e\u3060\u3053\u308c\u304b\u3089\u3060\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u611f\u67d3\u8005\u6570\u306f\u5897\u3048\u7d9a\u3051\u3066\u304a\u308a\u3001\u30a2\u30e1\u30ea\u30ab\u3088\u308a\u5148\u306b\u30d4\u30fc\u30af\u306b\u9054\u3059\u308b\u3068\u60f3\u5b9a\u3055\u308c\u3066\u3044\u308b\u30e8\u30fc\u30ed\u30c3\u30d1\u3067\u3082\u30d4\u30fc\u30af\u306f\u307e\u3060\u5148\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9055\">\u65b0\u578b\u30b3\u30ed\u30ca\u30a6\u30a3\u30eb\u30b9\u3001\u30e8\u30fc\u30ed\u30c3\u30d1\u5404\u56fd\u306e\u611f\u67d3\u8005\u6570\u306e\u30d4\u30fc\u30af\u306f\u3044\u3064\u304b<\/a><\/li><\/ul>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u76f8\u5834\u3067\u3082\u6700\u60aa\u671f\u306f\u307e\u3060\u6765\u3066\u3044\u306a\u3044\u3068\u8003\u3048\u308b\u306e\u304c\u59a5\u5f53\u3060\u308d\u3046\u3002\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u7de9\u548c\u52b9\u679c\u3092\u3082\u305f\u3089\u3059\u91d1\u5229\u4f4e\u4e0b\u304c\u6b62\u307e\u3063\u3066\u3057\u307e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"785\" height=\"500\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart.png\" alt=\"\" class=\"wp-image-9194\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart.png 785w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart-300x191.png 300w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-us-long-term-interest-rate-chart-768x489.png 768w\" sizes=\"auto, (max-width: 785px) 100vw, 785px\" \/><\/figure>\n\n\n\n<p>\u3042\u307e\u308a\u826f\u3044\u4e88\u611f\u306f\u3057\u306a\u3044\u3068\u8a00\u308f\u3056\u308b\u3092\u5f97\u306a\u3044\u3060\u308d\u3046\u3002\u6295\u8cc7\u5bb6\u3068\u3057\u3066\u306f\u307e\u305a\u306f\u611f\u67d3\u8005\u6570\u306e\u30d4\u30fc\u30af\u3092\u898b\u5c4a\u3051\u3001\u66b4\u843d\u3057\u3066\u3044\u308b\u539f\u6cb9\u306a\u3069\u4e0b\u843d\u306e\u884c\u304d\u904e\u304e\u305f\u8cc7\u7523\u3092\u72d9\u3063\u3066\u884c\u304d\u305f\u3044\u3068\u3053\u308d\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/8982\">\u539f\u6cb9\u4fa1\u683c\u66b4\u843d\u3092\u3081\u3050\u308b\u30ed\u30b7\u30a2\u3068\u30b5\u30a6\u30b8\u30a2\u30e9\u30d3\u30a2\u306e\u6226\u4e89<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u65b0\u578b\u30b3\u30ed\u30ca\u30a6\u30a3\u30eb\u30b9\u80ba\u708e\u304c\u4e16\u754c\u7684\u6d41\u884c\u3068\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u3067\u682a\u5f0f\u5e02\u5834\u306e\u66b4\u843d\u304c\u30cb\u30e5\u30fc\u30b9\u306b\u306a\u3063\u3066\u3044\u308b\u304c\u3001\u4e00\u90e8\u306e\u30d7\u30ed\u306e\u9593\u3067\u306f\u50b5\u5238\u3068\u91d1\u5229\u306e\u5024\u52d5\u304d\u306e\u65b9\u304c\u5371\u6a5f\u7684\u3060\u3068\u8a71\u984c\u306b\u306a\u3063\u3066\u3044\u308b\u3002\u524d\u56de\u306e\u8a18\u4e8b\u3067\u3082\u8aac\u660e\u3057\u305f\u901a\u308a\u3067\u3042\u308b\u3002 \u30c9\u30eb\u5186\u4e0a\u6607\u304c\u793a\u3059\u4e16\u754c\u7684 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9189\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u65b0\u578b\u30b3\u30ed\u30ca\u682a\u5b89\u3001\u9577\u671f\u91d1\u5229\u306e\u52d5\u5411\u30922018\u5e74\u4e16\u754c\u540c\u6642\u682a\u5b89\u3068\u6bd4\u8f03\u3059\u308b<\/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":[118,59,111,108],"tags":[155],"class_list":["post-9189","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-us-stock-market","category-stock-markets","category-bond-markets","tag-novid-coronavirus-2019"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/9189","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=9189"}],"version-history":[{"count":20,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/9189\/revisions"}],"predecessor-version":[{"id":9215,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/9189\/revisions\/9215"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=9189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=9189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=9189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}