{"id":44058,"date":"2026-04-06T22:16:55","date_gmt":"2026-04-06T22:16:55","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/44058\/"},"modified":"2026-04-06T22:16:55","modified_gmt":"2026-04-06T22:16:55","slug":"bny%e3%81%ae%e3%83%9c%e3%83%96%e3%83%bb%e3%82%b5%e3%83%99%e3%83%bc%e3%82%b8%e6%b0%8f%ef%bc%9a3%e6%9c%88%e3%81%ae%e3%83%a6%e3%83%bc%e3%83%ad%e5%9c%8f%e3%82%a4%e3%83%b3%e3%83%95%e3%83%ac%e3%81%af","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/jp-asia\/live-updates\/44058\/","title":{"rendered":"BNY\u306e\u30dc\u30d6\u30fb\u30b5\u30d9\u30fc\u30b8\u6c0f\uff1a3\u6708\u306e\u30e6\u30fc\u30ed\u570f\u30a4\u30f3\u30d5\u30ec\u306f\u30a8\u30cd\u30eb\u30ae\u30fc\u8981\u56e0\u3067\u4e0a\u6607\u3001\u71c3\u6599\u4fa1\u683c\u4e0a\u9650\u5236\u304c\u8ca1\u653f\u306e\u4fe1\u8a8d\u3092\u5727\u8feb\u3057\u3066\u3044\u305f"},"content":{"rendered":"\u6b27\u5dde\u3067\u306f3\u6708\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u901f\u5831\u5024\u304c\u4e88\u60f3\u3092\u4e0a\u56de\u308a\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u304a\u3088\u3073\u7cbe\u88fd\u54c1\u304c\u4e3b\u56e0\u3068\u3057\u3066\u6319\u3052\u3089\u308c\u307e\u3057\u305f\u3002\u4e2d\u592e\u9280\u884c\u306f\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u30b3\u30b9\u30c8\u306e\u5909\u52d5\u306b\u4f34\u3046\u524d\u6708\u6bd41\uff05\u306e\u7269\u4fa1\u4e0a\u6607\u304c\u8d77\u3053\u308a\u5f97\u308b\u30b7\u30ca\u30ea\u30aa\u306b\u5099\u3048\u3066\u3044\u308b\u72b6\u6cc1\u3067\u3057\u305f\u3002 \n\n\u7126\u70b9\u306f\u539f\u6cb9\u304b\u3089\u7cbe\u88fd\u54c1\u3078\u79fb\u308a\u3001\u4f9b\u7d66\u4e0d\u8db3\u306e\u65b9\u304c\u3088\u308a\u5927\u304d\u306a\u61f8\u5ff5\u3068\u8aac\u660e\u3055\u308c\u3066\u3044\u307e\u3057\u305f\u3002\u6b27\u5dde\u306e\u30c7\u30a3\u30fc\u30bc\u30eb\u4fa1\u683c\u306f1\u30d0\u30ec\u30eb200\u30c9\u30eb\u3092\u4e0a\u56de\u308a\u30012022\u5e74\u306e\u6c34\u6e96\u3092\u8d85\u3048\u3066\u3044\u307e\u3057\u305f\u3002 \n\n

Refined Product Tightness And Inflation Risk<\/h3> \n2025\u5e74\u672b\u6642\u70b9\u306eEU\u306e\u30c7\u30a3\u30fc\u30bc\u30eb\u304a\u3088\u3073\u30b8\u30a7\u30c3\u30c8\u71c3\u6599\u5728\u5eab\u306f\u3001\u5e73\u5747\u3067\u4f9b\u7d662\u30ab\u6708\u672a\u6e80\u3067\u3057\u305f\u3002\u5404\u56fd\u653f\u5e9c\u306f\u71c3\u6599\u30b3\u30b9\u30c8\u3092\u6291\u3048\u308b\u305f\u3081\u3001\u8ab2\u7a0e\u3084\u30de\u30fc\u30b8\u30f3\u306b\u95a2\u3059\u308b\u63aa\u7f6e\u3092\u8b1b\u3058\u3066\u304a\u308a\u3001\u8ca1\u653f\u306e\u4fe1\u8a8d\u3092\u5de1\u308b\u7591\u554f\u304c\u9ad8\u307e\u3063\u3066\u3044\u307e\u3057\u305f\u3002 \n\n\u30e6\u30fc\u30ed\u570f\u5916\u306e\u56fd\u3005\u306b\u3064\u3044\u3066\u3082\u3001\u4eca\u5f8c\u6570\u9031\u9593\u30673\u6708\u306e\u30a4\u30f3\u30d5\u30ec\u6307\u6a19\u304c\u8ffd\u52a0\u3067\u516c\u8868\u3055\u308c\u308b\u4e88\u5b9a\u3067\u3001\u91d1\u5229\u5224\u65ad\u306b\u5f71\u97ff\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3057\u305f\u3002\u653f\u7b56\u5f53\u5c40\u306f\u4fa1\u683c\u304a\u3088\u3073\u4f9b\u7d66\u74b0\u5883\u306e\u4e0d\u78ba\u5b9f\u6027\u3092\u7406\u7531\u306b\u3001\u660e\u78ba\u306a\u30ac\u30a4\u30c0\u30f3\u30b9\u3092\u907f\u3051\u308b\u3068\u898b\u8fbc\u307e\u308c\u3066\u3044\u307e\u3057\u305f\u3002 \n\n\u898b\u901a\u3057\u3067\u306f\u3001\u6b27\u5dde\u4e2d\u592e\u9280\u884c\uff08ECB\uff09\u3001\u30a4\u30f3\u30b0\u30e9\u30f3\u30c9\u9280\u884c\u3001\u30b9\u30a6\u30a7\u30fc\u30c7\u30f3\u306e\u30ea\u30af\u30b9\u30d0\u30f3\u30af\u306f\u3044\u305a\u308c\u3082\u8ffd\u52a0\u5229\u4e0a\u3052\u306f\u6700\u5927\u3067\u3042\u30681\u56de\u306b\u3068\u3069\u307e\u308b\u3068\u3057\u3066\u3044\u307e\u3057\u305f\u3002\u30ce\u30eb\u30a6\u30a7\u30fc\u306e\u30ce\u30eb\u30b2\u30b9\u9280\u884c\u306f\u3059\u3067\u306b1\u56de\u306e\u5229\u4e0a\u3052\u3092\u793a\u5506\u3057\u3066\u3044\u307e\u3057\u305f\u3002 \n\n2025\u5e74\u521d\u306e\u72b6\u6cc1\u3092\u632f\u308a\u8fd4\u308b\u3068\u3001\u7279\u306b\u30c7\u30a3\u30fc\u30bc\u30eb\u3092\u4e2d\u5fc3\u3068\u3057\u305f\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u306e\u6025\u9a30\u306b\u3088\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u9577\u671f\u5316\u304c\u8b66\u6212\u3055\u308c\u3066\u3044\u307e\u3057\u305f\u3002\u4e2d\u592e\u9280\u884c\u306f\u3053\u308c\u3089\u306e\u5727\u529b\u306b\u5bfe\u6297\u3059\u308b\u305f\u3081\u3001\u5c11\u306a\u304f\u3068\u3082\u3082\u30461\u56de\u306e\u5229\u4e0a\u3052\u3092\u5b9f\u65bd\u3059\u308b\u3068\u306e\u898b\u65b9\u3067\u3057\u305f\u3002\u3057\u304b\u3057\u3001ECB\u306e\u6700\u7d42\u5229\u4e0a\u3052\u306f2025\u5e74\u534a\u3070\u306b\u884c\u308f\u308c\u3001\u305d\u306e\u5f8c\u306f\u5148\u6708\u6642\u70b9\u3067\u4e3b\u8981\u9810\u91d1\u91d1\u5229\u30922.75\uff05\u307e\u3067\u5f15\u304d\u4e0b\u3052\u3066\u3044\u307e\u3057\u305f\u3002 \n\n

Market Positioning Under Policy Uncertainty<\/h3> \n\u30a4\u30f3\u30d5\u30ec\u60c5\u52e2\u306f\u3053\u306e1\u5e74\u3067\u5927\u304d\u304f\u5909\u5316\u3057\u3066\u3044\u307e\u3057\u305f\u30022026\u5e743\u6708\u306eHICP\uff08\u6d88\u8cbb\u8005\u7269\u4fa1\u6307\u6570\u3001\u8abf\u548c\u6307\u6570\uff09\u306e\u7dcf\u5408\u306f2.1\uff05\u3068\u6bd4\u8f03\u7684\u843d\u3061\u7740\u3044\u305f\u6c34\u6e96\u3060\u3063\u305f\u4e00\u65b9\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u3068\u98df\u6599\u54c1\u3092\u9664\u304f\u30b3\u30a2\u30a4\u30f3\u30d5\u30ec\u306f2.7\uff05\u3068\u9ad8\u6b62\u307e\u308a\u3057\u3066\u3044\u307e\u3057\u305f\u3002\u3053\u306e\u4e56\u96e2\u306f\u3001\u666f\u6c17\u6e1b\u901f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u57fa\u8abf\u7684\u306a\u7269\u4fa1\u5727\u529b\u304c\u5341\u5206\u306b\u53ce\u307e\u3063\u3066\u3044\u306a\u3044\u3053\u3068\u3092\u793a\u3057\u3001ECB\u306e\u5148\u884c\u304d\u3092\u4e00\u6bb5\u3068\u8907\u96d1\u306b\u3057\u3066\u3044\u307e\u3057\u305f\u3002 \n\n\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u5e02\u5834\u53c2\u52a0\u8005\u306b\u3068\u3063\u3066\u306f\u3001\u91d1\u5229\u7d4c\u8def\u306e\u4e0d\u78ba\u5b9f\u6027\u3092\u524d\u63d0\u3068\u3057\u305f\u30dd\u30b8\u30b7\u30e7\u30cb\u30f3\u30b0\u304c\u793a\u5506\u3055\u308c\u3066\u3044\u307e\u3057\u305f\u3002\u5e02\u5834\u3067\u306f\u30b3\u30a2\u30a4\u30f3\u30d5\u30ec\u306e\u7c98\u7740\u6027\u3092\u80cc\u666f\u306bECB\u304c\u5229\u4e0b\u3052\u5c40\u9762\u3092\u4e00\u6642\u505c\u6b62\u3059\u308b\u304b\u3069\u3046\u304b\u3067\u898b\u65b9\u304c\u5272\u308c\u3066\u304a\u308a\u3001EURIBOR\u5148\u7269\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u7528\u3044\u305f\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u53d6\u5f15\u304c\u9078\u629e\u80a2\u3068\u306a\u308a\u5f97\u307e\u3057\u305f\u3002\u5e02\u5834\u306e\u7e54\u308a\u8fbc\u307f\u3068ECB\u306e\u614e\u91cd\u306a\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u306e\u4e56\u96e2\u306f\u3001\u91d1\u5229\u30b9\u30ef\u30c3\u30d7\u306b\u304a\u3051\u308b\u6a5f\u4f1a\u3092\u751f\u3093\u3067\u3044\u307e\u3057\u305f\u3002 \n\n2025\u5e74\u521d\u306b\u61f8\u5ff5\u3055\u308c\u305f\u30c7\u30a3\u30fc\u30bc\u30eb\u306e\u6df1\u523b\u306a\u4f9b\u7d66\u4e0d\u8db3\u306f\u3001\u51ac\u5834\u3092\u901a\u3058\u305f\u5728\u5eab\u56de\u5fa9\u306b\u3088\u308a\u7de9\u548c\u3057\u3066\u3044\u307e\u3057\u305f\u3002\u30d6\u30ec\u30f3\u30c8\u539f\u6cb9\u306f\u73fe\u57281\u30d0\u30ec\u30eb85\u30c9\u30eb\u8fd1\u8fba\u3067\u53d6\u5f15\u3055\u308c\u3066\u304a\u308a\u3001\u5371\u6a5f\u6642\u306e\u9ad8\u5024\u304b\u3089\u306f\u5927\u304d\u304f\u4f4e\u4e0b\u3057\u305f\u3082\u306e\u306e\u3001\u4f9d\u7136\u3068\u3057\u3066\u7269\u4fa1\u306b\u5727\u529b\u3092\u4e0e\u3048\u308b\u6c34\u6e96\u3067\u3057\u305f\u3002\u4e3b\u8981\u306a\u6d77\u4e0a\u8f38\u9001\u30eb\u30fc\u30c8\u3092\u5de1\u308b\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306f\u4fa1\u683c\u306e\u4e0b\u652f\u3048\u8981\u56e0\u3068\u306a\u308a\u7d9a\u3051\u3066\u304a\u308a\u3001\u6025\u6fc0\u306a\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u4e0a\u6607\u306b\u5099\u3048\u308b\u30aa\u30d7\u30b7\u30e7\u30f3\u6226\u7565\u306b\u3088\u308b\u30d8\u30c3\u30b8\u306f\u59a5\u5f53\u3068\u3055\u308c\u3066\u3044\u307e\u3057\u305f\u3002 \n\n\u3055\u3089\u306b\u30012025\u5e74\u306b\u653f\u5e9c\u306e\u71c3\u6599\u88dc\u52a9\u91d1\u3092\u5de1\u3063\u3066\u63d0\u8d77\u3055\u308c\u305f\u8ca1\u653f\u306e\u4fe1\u8a8d\u554f\u984c\u306f\u3001\u8db3\u5143\u3067\u73fe\u5b9f\u306e\u8ab2\u984c\u3068\u3057\u3066\u9855\u5728\u5316\u3057\u3066\u3044\u307e\u3057\u305f\u3002EU\u30eb\u30fc\u30eb\u306e\u518d\u5f37\u5316\u3092\u53d7\u3051\u3066\u3001\u8907\u6570\u306e\u30e6\u30fc\u30ed\u570f\u653f\u5e9c\u304c\u8ca1\u653f\u8d64\u5b57\u306e\u6291\u5236\u3092\u8feb\u3089\u308c\u3066\u304a\u308a\u3001\u6210\u9577\u3092\u4e0b\u652f\u3048\u3059\u308b\u305f\u3081\u306e\u8ca1\u653f\u523a\u6fc0\u7b56\u306e\u4f59\u5730\u306f\u5c0f\u3055\u304f\u306a\u3063\u3066\u3044\u307e\u3057\u305f\u3002\u3053\u308c\u306b\u3088\u308a\u30e6\u30fc\u30ed\u901a\u8ca8\u30da\u30a2\u306e\u5909\u52d5\u304c\u9ad8\u307e\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u3001EUR\/USD\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u30ed\u30f3\u30b0\u30fb\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3092\u69cb\u7bc9\u3059\u308b\u6226\u7565\u306f\u9b45\u529b\u7684\u3068\u3055\u308c\u3066\u3044\u307e\u3057\u305f\u3002\n\n\n

\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u3092\u59cb\u3081\u307e\u3057\u3087\u3046 – \u3053\u3053\u3092\u30af\u30ea\u30c3\u30af<\/a>\u3057\u3066VT Markets\u53e3\u5ea7\u3092\u958b\u8a2d<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

\u6b27\u5dde\u30a4\u30f3\u30d5\u30ec\u304c\u60f3\u5b9a\u8d85\u3048\u3001\u7cbe\u88fd\u54c1\u9ad8\u304c\u706b\u7a2e\u3067\u3057\u305f\u3002\u30c7\u30a3\u30fc\u30bc\u30eb\u903c\u8feb\u3068\u8ca1\u653f\u63aa\u7f6e\u306e\u4fe1\u8a8d\u63fa\u3089\u304e\u3067\u4e2d\u9280\u306f\u614e\u91cd\u59ff\u52e2\u3001\u5229\u4e0b\u3052\u898b\u901a\u3057\u4e0d\u900f\u660e\u5316\u3002\u91d1\u5229\u30fbFX\u306f\u30dc\u30e9\u9ad8\u306b\u3002 – vtmarketsjp.com<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[40],"tags":[],"class_list":["post-44058","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/posts\/44058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/comments?post=44058"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/posts\/44058\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/media?parent=44058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/categories?post=44058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/tags?post=44058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}