{"id":45986,"date":"2026-04-29T17:57:03","date_gmt":"2026-04-29T17:57:03","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/45986\/"},"modified":"2026-04-29T17:57:03","modified_gmt":"2026-04-29T17:57:03","slug":"frb%e3%81%ae%e6%85%8e%e9%87%8d%e5%a7%bf%e5%8b%a2%e3%81%a7%e9%ab%98%e9%87%91%e5%88%a9%e9%95%b7%e6%9c%9f%e5%8c%96%e6%87%b8%e5%bf%b5%e3%81%8c%e5%bc%b7%e3%81%be%e3%82%8a%e3%80%81%e9%8a%80%e3%81%af74","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/jp-asia\/live-updates\/45986\/","title":{"rendered":"FRB\u306e\u614e\u91cd\u59ff\u52e2\u3067\u9ad8\u91d1\u5229\u9577\u671f\u5316\u61f8\u5ff5\u304c\u5f37\u307e\u308a\u3001\u9280\u306f74\u30c9\u30eb\u4e0a\u629c\u3051\u306b\u5931\u6557\u3057\u3066\u7d0472.30\u30c9\u30eb\u3078\u4e0b\u843d"},"content":{"rendered":"<p>\u9280\uff08XAG\/USD\uff09\u306f\u6c34\u66dc\u65e5\u306b1.02\uff05\u4e0b\u843d\u3057\u300174.00\u30c9\u30eb\u3092\u4e0a\u56de\u3063\u3066\u7dad\u6301\u3067\u304d\u305a\u300172.30\u30c9\u30eb\u524d\u5f8c\u307e\u3067\u5024\u3092\u4e0b\u3052\u305f\u300272.00\u30c9\u30eb\u8fd1\u8fba\u306e\u5b89\u5024\u304b\u3089\u306e\u623b\u308a\u3082\u9650\u5b9a\u7684\u3067\u3001\u5e02\u5834\u306f\u7c73\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u7406\u4e8b\u4f1a\uff08FRB\uff09\u306e\u6c7a\u5b9a\u3092\u5f85\u3064\u5c55\u958b\u3068\u306a\u3063\u305f\u3002  <\/p>\n<p>\u7c73\u30c9\u30eb\u306f\u5805\u8abf\u3060\u3063\u305f\u3002\u5e02\u5834\u3067\u306f\u3001\u91d1\u878d\u653f\u7b56\u304c\u300c\u5f15\u304d\u7de0\u3081\u7684\uff08restrictive\uff1d\u91d1\u5229\u3092\u9ad8\u3081\u306b\u4fdd\u3061\u666f\u6c17\u3084\u7269\u4fa1\u3092\u6291\u3048\u308b\u59ff\u52e2\uff09\u300d\u306e\u307e\u307e\u7d9a\u304f\u3068\u306e\u898b\u65b9\u304c\u5f37\u3044\u3002FRB\u306f\u653f\u7b56\u91d1\u5229\u30923.50\uff05\uff5e3.75\uff05\u306e\u7bc4\u56f2\u3067\u636e\u3048\u7f6e\u304f\u516c\u7b97\u304c\u5927\u304d\u304f\u3001\u4eca\u5f8c\u306e\u65b9\u91dd\u3092\u63a2\u308b\u624b\u304c\u304b\u308a\u3068\u3057\u3066\u3001\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306e\u4f1a\u898b\u767a\u8a00\u306b\u6ce8\u76ee\u304c\u96c6\u307e\u3063\u3066\u3044\u308b\u3002  <\/p>\n<h3>Higher For Longer Rates<\/h3>\n<p>\u300c\u9ad8\u91d1\u5229\u304c\u9577\u671f\u5316\uff08higher for longer\uff1d\u91d1\u5229\u304c\u9ad8\u3044\u6c34\u6e96\u3067\u9577\u304f\u7d9a\u304f\u898b\u901a\u3057\uff09\u300d\u3068\u306e\u89b3\u6e2c\u306f\u3001\u8cb4\u91d1\u5c5e\u306b\u91cd\u3057\u3068\u306a\u3063\u305f\u3002\u5229\u606f\u3092\u751f\u307e\u306a\u3044\u8cc7\u7523\uff08non-yielding asset\uff1d\u4fdd\u6709\u3057\u3066\u3082\u5229\u606f\u3084\u914d\u5f53\u304c\u51fa\u306a\u3044\u8cc7\u7523\uff09\u3092\u6301\u3064\u8ca0\u62c5\u304c\u5897\u3048\u308b\u305f\u3081\u3060\u3002\u30a4\u30f3\u30d5\u30ec\u61f8\u5ff5\u3067\u56fd\u50b5\u5229\u56de\u308a\uff08bond yields\uff1d\u50b5\u5238\u304b\u3089\u5f97\u3089\u308c\u308b\u5229\u56de\u308a\uff09\u304c\u4e0a\u6607\u3059\u308b\u3068\u3001\u9280\u3078\u306e\u9700\u8981\u3092\u6291\u3048\u3084\u3059\u3044\u3002  <\/p>\n<p>\u5730\u653f\u5b66\u30ea\u30b9\u30af\u3082\u4e0b\u62bc\u3057\u8981\u56e0\u3068\u306a\u3063\u305f\u3002\u7c73\u56fd\u3068\u30a4\u30e9\u30f3\u306e\u7dca\u5f35\u304c\u30db\u30eb\u30e0\u30ba\u6d77\u5ce1\u3092\u3081\u3050\u3063\u3066\u5f37\u307e\u3063\u3066\u3044\u308b\u3002\u30a6\u30a9\u30fc\u30eb\u30fb\u30b9\u30c8\u30ea\u30fc\u30c8\u30fb\u30b8\u30e3\u30fc\u30ca\u30eb\u7d19\u306f\u3001\u7c73\u653f\u6a29\u304c\u30a4\u30e9\u30f3\u3078\u306e\u7d4c\u6e08\u5c01\u9396\uff08economic blockade\uff1d\u8cbf\u6613\u3084\u8cc7\u91d1\u306e\u6d41\u308c\u3092\u5236\u9650\u3059\u308b\u63aa\u7f6e\uff09\u306e\u5ef6\u9577\u3092\u691c\u8a0e\u3057\u3066\u3044\u308b\u3068\u5831\u3058\u305f\u3002\u3053\u308c\u306b\u3088\u308a\u539f\u6cb9\u4fa1\u683c\u304c\u9ad8\u6b62\u307e\u308a\u3057\u3001\u30a4\u30f3\u30d5\u30ec\u671f\u5f85\uff08inflation expectations\uff1d\u5c06\u6765\u306e\u7269\u4fa1\u4e0a\u6607\u898b\u901a\u3057\uff09\u304c\u7dad\u6301\u3055\u308c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002  <\/p>\n<p>TD\u30bb\u30ad\u30e5\u30ea\u30c6\u30a3\u30fc\u30ba\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u666f\u6c17\u3092\u51b7\u3084\u3059\u4e00\u65b9\u3067\u91d1\u5229\u304c\u9ad8\u6b62\u307e\u308a\u3059\u308b\u5834\u5408\u3001\u9280\u306f\u3055\u3089\u306b\u4e0b\u843d\u3057\u5f97\u308b\u3068\u6307\u6458\u3057\u305f\u3002\u52a0\u3048\u3066\u3001\u5de5\u696d\u5411\u3051\u9700\u8981\u306e\u5f31\u3055\u3084\u30ad\u30e3\u30ea\u30fc\u30b3\u30b9\u30c8\uff08carry costs\uff1d\u4fdd\u6709\u306b\u4f34\u3046\u91d1\u5229\u30fb\u8cc7\u91d1\u8abf\u9054\u306a\u3069\u306e\u8ca0\u62c5\uff09\u306e\u5897\u52a0\u3092\u91cd\u8377\u3068\u3057\u3066\u6319\u3052\u3001\u5e74\u5f8c\u534a\u306b\u4f9b\u7d66\u5236\u7d04\uff08supply constraints\uff1d\u4f9b\u7d66\u4e0d\u8db3\u3084\u4f9b\u7d66\u306e\u5236\u9650\uff09\u304c\u652f\u3048\u306b\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u3057\u305f\u3002  <\/p>\n<p>5\u6708\u306b\u5411\u3051\u305f\u77ed\u671f\u898b\u901a\u3057\u306f\u5f31\u542b\u307f\u3060\u3002FRB\u304c\u5f15\u304d\u7de0\u3081\u59ff\u52e2\u3092\u7dad\u6301\u3059\u308b\u3068\u306e\u898b\u65b9\u304c\u5f37\u304f\u3001\u30c9\u30eb\u9ad8\u3068\u9ad8\u3044\u56fd\u50b5\u5229\u56de\u308a\u304c\u5927\u304d\u306a\u4e0a\u6607\u3092\u6291\u3048\u3084\u3059\u3044\u3002\u5229\u606f\u3092\u751f\u307e\u306a\u3044\u9280\u306f\u3001\u53d6\u5f15\u53c2\u52a0\u8005\u306b\u3068\u3063\u3066\u4fdd\u6709\u5999\u5473\u304c\u4f4e\u4e0b\u3057\u3084\u3059\u3044\u3002  <\/p>\n<h3>Key Data And Trading Implications<\/h3>\n<p>\u76f4\u8fd1\u306e\u7d4c\u6e08\u6307\u6a19\u3082\u3053\u306e\u898b\u65b9\u3092\u88cf\u4ed8\u3051\u308b\u30022026\u5e743\u6708\u306e\u6d88\u8cbb\u8005\u7269\u4fa1\u6307\u6570\uff08CPI\uff1d\u7269\u4fa1\u306e\u4ee3\u8868\u7684\u6307\u6a19\uff09\u3067\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304c3.6\uff05\u3068\u4e0b\u304c\u308a\u306b\u304f\u3044\u72b6\u614b\uff08sticky\uff1d\u7c98\u7740\u7684\u3067\u4f4e\u4e0b\u3057\u306b\u304f\u3044\uff09\u3092\u793a\u3057\u3001FRB\u304c\u65b9\u91dd\u5909\u66f4\u3092\u793a\u5506\u3057\u306b\u304f\u3044\u72b6\u6cc1\u3060\u3002\u3053\u308c\u3092\u53d7\u3051\u3066\u3001\u7c7310\u5e74\u56fd\u50b5\u5229\u56de\u308a\u306f4.75\uff05\u524d\u5f8c\u307e\u3067\u4e0a\u6607\u3057\u3066\u3044\u308b\u3002\u3053\u308c\u306f\u6a5f\u4f1a\u8cbb\u7528\uff08opportunity cost\uff1d\u5225\u306e\u904b\u7528\u3067\u5f97\u3089\u308c\u305f\u306f\u305a\u306e\u5229\u56de\u308a\uff09\u3092\u76f4\u63a5\u62bc\u3057\u4e0a\u3052\u3001\u9280\u306b\u306f\u9006\u98a8\u3068\u306a\u308a\u3001\u4fa1\u683c\u304c\u6a2a\u3070\u3044\uff5e\u4e0b\u843d\u306b\u50be\u304f\u60f3\u5b9a\u306e\u53d6\u5f15\u304c\u512a\u4f4d\u306b\u306a\u308a\u3084\u3059\u3044\u3002  <\/p>\n<p>\u5de5\u696d\u9762\u3067\u3082\u5f31\u3055\u304c\u898b\u3048\u308b\u3002ISM\u88fd\u9020\u696dPMI\uff08\u8cfc\u8cb7\u62c5\u5f53\u8005\u666f\u6c17\u6307\u6570\uff1d\u88fd\u9020\u696d\u306e\u666f\u6cc1\u611f\u3092\u793a\u3059\u6307\u6570\uff09\u306f49.8\u3078\u4f4e\u4e0b\u3057\u3001\u308f\u305a\u304b\u306a\u7e2e\u5c0f\uff0850\u672a\u6e80\u306f\u7e2e\u5c0f\uff09\u3092\u793a\u3057\u305f\u3002\u3053\u308c\u306f\u73fe\u7269\u9280\uff08physical silver\uff1d\u5b9f\u7269\u306e\u9280\uff09\u306e\u9700\u8981\u3092\u51b7\u3084\u3059\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u9280\u5148\u7269\u306b\u5bfe\u3057\u3066\u306f\u3001\u30d7\u30c3\u30c8\u30aa\u30d7\u30b7\u30e7\u30f3\uff08put options\uff1d\u4e0b\u843d\u6642\u306b\u5229\u76ca\u304c\u51fa\u3084\u3059\u3044\u6a29\u5229\uff09\u3092\u8cb7\u3046\u3001\u3042\u308b\u3044\u306f\u30b3\u30fc\u30eb\u306e\u30b9\u30d7\u30ec\u30c3\u30c9\u3092\u58f2\u308b\uff08selling call spreads\uff1d\u4e0a\u6607\u6642\u306e\u5229\u76ca\u3092\u9650\u5b9a\u3059\u308b\u4ee3\u308f\u308a\u306b\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u53d7\u3051\u53d6\u308b\u6226\u7565\uff09\u3053\u3068\u3067\u300172.00\u30c9\u30eb\u306e\u652f\u6301\u7dda\u306b\u5411\u3051\u305f\u4e0b\u843d\u306b\u5099\u3048\u308b\u30d8\u30c3\u30b8\uff08hedge\uff1d\u640d\u5931\u3092\u6291\u3048\u308b\u5bfe\u7b56\uff09\u306b\u306a\u308a\u5f97\u308b\u3002  <\/p>\n<p>\u30db\u30eb\u30e0\u30ba\u6d77\u5ce1\u306e\u7dca\u5f35\u306f\u4e0d\u78ba\u5b9f\u6027\u3092\u9ad8\u3081\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u3068\u30a4\u30f3\u30d5\u30ec\u671f\u5f85\u3092\u62bc\u3057\u4e0a\u3052\u3084\u3059\u3044\u3002\u77ed\u671f\u7684\u306b\u4fa1\u683c\u304c\u8df3\u306d\u308b\u53ef\u80fd\u6027\u306f\u3042\u308b\u304c\u3001\u4e3b\u306bFRB\u304c\u5f15\u304d\u7de0\u3081\u59ff\u52e2\u3092\u7d9a\u3051\u308b\u7406\u7531\u3092\u88dc\u5f37\u3059\u308b\u6750\u6599\u3068\u306a\u308b\u3002\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\uff08derivatives\uff1d\u5148\u7269\u30fb\u30aa\u30d7\u30b7\u30e7\u30f3\u306a\u3069\u4fa1\u683c\u5909\u52d5\u3092\u53d6\u5f15\u3059\u308b\u5546\u54c1\uff09\u53d6\u5f15\u3067\u306f\u3001\u30b9\u30c8\u30e9\u30c9\u30eb\uff08straddle\uff1d\u540c\u3058\u884c\u4f7f\u4fa1\u683c\u3067\u30b3\u30fc\u30eb\u3068\u30d7\u30c3\u30c8\u3092\u4e21\u65b9\u8cb7\u3044\u3001\u65b9\u5411\u306f\u554f\u308f\u305a\u5927\u304d\u306a\u5909\u52d5\u306b\u8ced\u3051\u308b\uff09\u3084\u30b9\u30c8\u30e9\u30f3\u30b0\u30eb\uff08strangle\uff1d\u7570\u306a\u308b\u884c\u4f7f\u4fa1\u683c\u3067\u30b3\u30fc\u30eb\u3068\u30d7\u30c3\u30c8\u3092\u8cb7\u3044\u3001\u3088\u308a\u5927\u304d\u306a\u5909\u52d5\u3092\u72d9\u3046\uff09\u3067\u3001\u65b9\u5411\u3092\u6c7a\u3081\u305a\u306b\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff08volatility\uff1d\u4fa1\u683c\u5909\u52d5\u306e\u5927\u304d\u3055\uff09\u4e0a\u6607\u3092\u72d9\u3046\u9078\u629e\u80a2\u304c\u3042\u308b\u3002  <\/p>\n<p><b><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">VT Markets\u306e\u30e9\u30a4\u30d6\u53e3\u5ea7\u3092\u958b\u8a2d<\/a>\u3057\u3001<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">\u53d6\u5f15\u3092\u958b\u59cb<\/a>\u3002<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u9280\u306f72\u30c9\u30eb\u53f0\u3078\u53cd\u843d\u300174\u30c9\u30eb\u53f0\u7dad\u6301\u3067\u304d\u305a\u3002\u30c9\u30eb\u9ad8\u30fb\u7c73\u91d1\u5229\u9ad8\u3067\u300c\u9ad8\u91d1\u5229\u9577\u671f\u5316\u300d\u89b3\u6e2c\u304c\u9006\u98a8\u3001FRB\u636e\u3048\u7f6e\u304d\u516c\u7b97\u3067\u30d1\u30a6\u30a8\u30eb\u4f1a\u898b\u5f85\u3061\u3002\u4e2d\u6771\u7dca\u5f35\u3082\u30a4\u30f3\u30d5\u30ec\u671f\u5f85\u3092\u652f\u63f4\u3002<\/p>\n","protected":false},"author":116,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[40],"tags":[],"class_list":["post-45986","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\/45986","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\/116"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/comments?post=45986"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/posts\/45986\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/media?parent=45986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/categories?post=45986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/tags?post=45986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}