{"id":2530366,"date":"2025-05-20T22:46:21","date_gmt":"2025-05-20T22:46:21","guid":{"rendered":"https:\/\/www.wacoca.com\/news\/2530366\/"},"modified":"2025-05-20T22:46:21","modified_gmt":"2025-05-20T22:46:21","slug":"%e3%82%b3%e3%83%a9%e3%83%a0%ef%bc%9a%e7%b1%b3%e5%9b%bd%e5%82%b5%e6%a0%bc%e4%bb%98%e3%81%91%e3%80%81%e5%b8%82%e5%a0%b4%e3%81%ae%e8%a9%95%e4%be%a1%e3%81%af%e3%81%bb%e3%81%bc%e6%8a%95%e6%a9%9f%e7%9a%84","status":"publish","type":"post","link":"https:\/\/www.wacoca.com\/news\/2530366\/","title":{"rendered":"\u30b3\u30e9\u30e0\uff1a\u7c73\u56fd\u50b5\u683c\u4ed8\u3051\u3001\u5e02\u5834\u306e\u8a55\u4fa1\u306f\u307b\u307c\u6295\u6a5f\u7684\u3000\u51b7\u9759\u306a\u53cd\u5fdc\u3068\u88cf\u8179 | \u30ed\u30a4\u30bf\u30fc"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/05\/BMW6WN5NNBNHHEM7XM4ISHP36I.jpg\"   width=\"3500\" height=\"2333\" alt=\"&#x30B3;&#x30E9;&#x30E0;&#xFF1A;&#x7C73;&#x56FD;&#x50B5;&#x683C;&#x4ED8;&#x3051;&#x3001;&#x5E02;&#x5834;&#x306E;&#x8A55;&#x4FA1;&#x306F;&#x307B;&#x307C;&#x6295;&#x6A5F;&#x7684;&#x3000;&#x51B7;&#x9759;&#x306A;&#x53CD;&#x5FDC;&#x3068;&#x88CF;&#x8179;\"\/><\/p>\n<p>\u3000\uff15\u6708\uff12\uff10\u65e5\u3001\u5e02\u5834\u304c\u30e0\u30fc\u30c7\u30a3\u30fc\u30ba\u306b\u3088\u308b\u7c73\u56fd\u306e\u4fe1\u7528\u683c\u4ed8\u3051\u5f15\u304d\u4e0b\u3052\u3092\u51b7\u9759\u306b\u53d7\u3051\u6b62\u3081\u305f\u3053\u3068\u306b\u306f\u5341\u5206\u306a\u7406\u7531\u304c\u3042\u308b\u3002\u5199\u771f\u306f\u7c73\u30c9\u30eb\u7d19\u5e63\u3002\uff14\u6708\u64ae\u5f71\uff08\uff12\uff10\uff12\uff15\u5e74\u3000\u30ed\u30a4\u30bf\u30fc\/Dado Ruvic\uff09<\/p>\n<p>[\u30ed\u30f3\u30c9\u30f3 \uff12\uff10\u65e5 \u30ed\u30a4\u30bf\u30fc] &#8211; 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IQ\u300d\u30e2\u30c7\u30eb\u306f\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30c7\u30d5\u30a9\u30eb\u30c8\u30fb\u30b9\u30ef\u30c3\u30d7\uff08\uff23\uff24\uff33\uff09\u5e02\u5834\u306e\u4fa1\u683c\u306b\u57fa\u3065\u304d\u3001\u7c73\u56fd\u50b5\u683c\u4ed8\u3051\u3092\u73fe\u884c\u6c34\u6e96\u3088\u308a\uff16\u6bb5\u968e\u4f4e\u3044\u300c\uff22\uff22\uff22\uff0b\uff08\u30c8\u30ea\u30d7\u30eb\uff22\u30d7\u30e9\u30b9\uff09\u300d\u306b\u76f8\u5f53\u3059\u308b\u3068\u793a\u5506\u3057\u3066\u3044\u308b\u3002\u3053\u308c\u306f\u30c8\u30ea\u30d7\u30eb\uff21\u3069\u3053\u308d\u304b\u3001\u304b\u308d\u3046\u3058\u3066\u6295\u8cc7\u9069\u683c\u7d1a\u306b\u3068\u3069\u307e\u308b\u6c34\u6e96\u3060\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/05\/1747781178_87_chart.png\" alt=\"Credit default swap markets price US as if BBB+ pointing to sizeable downgrade expectations\"\/>Credit default swap markets price US as if BBB+ pointing to sizeable downgrade expectations<\/p>\n<p>\u78ba\u304b\u306b\uff23\uff24\uff33\u4fa1\u683c\u306f\u3001\u9023\u90a6\u653f\u5e9c\u306e\u50b5\u52d9\u4e0a\u9650\u3092\u5de1\u308b\u653f\u6cbb\u7684\u5bfe\u7acb\u304c\u518d\u71c3\u3057\u3001\u30c6\u30af\u30cb\u30ab\u30eb\u30c7\u30d5\u30a9\u30eb\u30c8\uff08\u6280\u8853\u7684\u50b5\u52d9\u4e0d\u5c65\u884c\uff09\u306b\u9665\u308b\u30ea\u30b9\u30af\u306b\u3088\u3063\u3066\u3086\u304c\u3081\u3089\u308c\u3066\u3044\u308b\u53ef\u80fd\u6027\u306f\u3042\u308b\u3002\u3057\u304b\u3057\u3001\u4fe1\u7528\u529b\u3078\u306e\u60aa\u5f71\u97ff\u306f\u73fe\u5b9f\u306e\u3082\u306e\u3067\u3042\u308a\u3001\u4e3b\u8981\u306a\u683c\u4ed8\u3051\u4f1a\u793e\u3082\u7e70\u308a\u8fd4\u3057\u6307\u6458\u3057\u3066\u304d\u305f\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/05\/1747781179_38_chart.png\" alt=\"The chart shows that US government five-year credit default swaps have been rising, with momentum increasing after President Donald Trump's April tariff announcement\"\/>The chart shows that US government five-year credit default swaps have been rising, with momentum increasing after President Donald Trump&#8217;s April tariff announcement<\/p>\n<p>\u8b70\u4f1a\u304c\u50b5\u52d9\u4e0a\u9650\u5f15\u304d\u4e0a\u3052\u306b\u5408\u610f\u3057\u306a\u3051\u308c\u3070\u653f\u5e9c\u306f\uff18\u6708\u4e2d\u306b\u3082\u8cc7\u91d1\u304c\u67af\u6e07\u3059\u308b\u6050\u308c\u304c\u3042\u308b\u305f\u3081\u3001\u50b5\u52d9\u4e0a\u9650\u554f\u984c\u306f\u590f\u5834\u306b\u518d\u3073\u8868\u9762\u5316\u3059\u308b\u53ef\u80fd\u6027\u304c\u6975\u3081\u3066\u9ad8\u3044\u3002\uff11\u6708\u306b\u6cd5\u5b9a\u501f\u308a\u5165\u308c\u9650\u5ea6\u984d\u306b\u9054\u3057\u3066\u4ee5\u6765\u3001\u653f\u5e9c\u306f\u4e0a\u9650\u8d85\u904e\u3092\u56de\u907f\u3059\u308b\u305f\u3081\u306e\u300c\u7570\u4f8b\u306e\u63aa\u7f6e\u300d\u3092\u8b1b\u3058\u3066\u304d\u305f\u3002<\/p>\n<p>\u3053\u308c\u307e\u3067\u306e\u591a\u304f\u306e\u5bfe\u7acb\u3068\u306f\u7570\u306a\u308a\u3001\u4eca\u56de\u306e\u8ca1\u653f\u3092\u5de1\u308b\u6df7\u4e71\u306f\u6975\u3081\u3066\u30c7\u30ea\u30b1\u30fc\u30c8\u306a\u6642\u671f\u306b\u8d77\u304d\u3066\u3044\u308b\u3002\u5148\u6708\u306f\u7c73\u5e02\u5834\u304b\u3089\u306e\u8cc7\u672c\u9003\u907f\u61f8\u5ff5\u304c\u9ad8\u307e\u308a\u3001\u7c73\u56fd\u50b5\u306e\u5b89\u5168\u8cc7\u7523\u3068\u3057\u3066\u306e\u5730\u4f4d\u304c\u63fa\u3089\u3044\u3060\u3002\uff14\u6708\u306e\u7c73\u56fd\u50b5\u58f2\u308a\u306f\u682a\u4fa1\u3068\u30c9\u30eb\u306e\u4e0b\u843d\u3068\u540c\u6642\u306b\u8d77\u304d\u3066\u3044\u308b\u3002<\/p>\n<p>\u30c9\u30a4\u30c4\u9280\u884c\u306e\u30b8\u30e7\u30fc\u30b8\u30fb\u30b5\u30e9\u30d9\u30ed\u30b9\u6c0f\u304c\u6700\u8fd1\u7e70\u308a\u8fd4\u3057\u6307\u6458\u3057\u3066\u3044\u308b\u3088\u3046\u306b\u3001\u30c9\u30eb\u3068\u7c73\u56fd\u50b5\u4fa1\u683c\u306e\u76f8\u95a2\u95a2\u4fc2\u306f\u8457\u3057\u304f\u9ad8\u307e\u3063\u3066\u304a\u308a\u3001\u5229\u56de\u308a\u304c\u4e0a\u6607\u3059\u308c\u3070\u30c9\u30eb\u9ad8\u3001\u5229\u56de\u308a\u304c\u4f4e\u4e0b\u3059\u308c\u3070\u30c9\u30eb\u5b89\u3068\u3044\u3046\u9577\u5e74\u306e\u5e02\u5834\u306e\u30d1\u30bf\u30fc\u30f3\u304c\u5d29\u308c\u3066\u3044\u308b\u3002\u3053\u306e\u50be\u5411\u306f\uff11\uff19\u65e5\u671d\u306b\u518d\u3073\u9bae\u660e\u3068\u306a\u308a\u3001\u9577\u671f\u56fd\u50b5\u5229\u56de\u308a\u304c\u4e0a\u6607\u3059\u308b\u4e00\u65b9\u3067\u30c9\u30eb\u304c\u4e0b\u843d\u3057\u305f\u3002<\/p>\n<p>\u30b5\u30e9\u30d9\u30ed\u30b9\u6c0f\u306f\u300c\u7c73\u8cc7\u7523\u3078\u306e\u6295\u8cc7\u610f\u6b32\u306e\u4f4e\u4e0b\u3068\u3001\u9ad8\u6c34\u6e96\u306e\u8ca1\u653f\u8d64\u5b57\u3092\u56fa\u5b9a\u5316\u3055\u305b\u3066\u3044\u308b\u7c73\u56fd\u306e\u8ca1\u653f\u5236\u5ea6\u306e\u786c\u76f4\u6027\u304c\u76f8\u307e\u3063\u3066\u3001\u5e02\u5834\u306f\u975e\u5e38\u306b\u795e\u7d4c\u8cea\u306b\u306a\u3063\u3066\u3044\u308b\u300d\u3068\u5206\u6790\u3057\u305f\u3002\u3055\u3089\u306b\u3001\u6765\u5e74\u306e\u4e2d\u9593\u9078\u6319\u3067\u9023\u90a6\u8b70\u4f1a\u306e\u52e2\u529b\u56f3\u304c\u5909\u308f\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u305f\u3081\u3001\u8b70\u4f1a\u3067\u5be9\u8b70\u4e2d\u306e\u8ca1\u653f\u6cd5\u6848\u304c\u3001\u73fe\u653f\u6a29\u306b\u3068\u3063\u3066\u6df1\u523b\u306a\u8ca1\u653f\u8d64\u5b57\u3068\u50b5\u52d9\u5897\u5927\u306e\u50be\u5411\u3092\u4fee\u6b63\u3059\u308b\u552f\u4e00\u306e\u6a5f\u4f1a\u304b\u3082\u3057\u308c\u306a\u3044\u3068\u306e\u898b\u65b9\u3092\u793a\u3057\u305f\u3002<\/p>\n<p>\u3053\u306e\u6cd5\u6848\u306e\u8a73\u7d30\u304b\u3089\u306f\u3001\u4eca\u5f8c\uff11\uff10\u5e74\u9593\u3067\u7740\u5b9f\u306b\u5897\u52a0\u3059\u308b\u8ca1\u653f\u8d64\u5b57\u3068\u50b5\u52d9\u8ca0\u62c5\u3092\u8efd\u6e1b\u3059\u308b\u52b9\u679c\u306f\u307b\u3068\u3093\u3069\u671f\u5f85\u3067\u304d\u306a\u3044\u3053\u3068\u304c\u3046\u304b\u304c\u3048\u308b\u3002\u4e88\u7b97\u76e3\u8996\u6a5f\u95a2\u3084\u9280\u884c\u306e\u63a8\u8a08\u306b\u3088\u308b\u3068\u3001\u7c73\u56fd\u306f\u4eca\u5f8c\uff12\u5e74\u9593\u3067\u56fd\u5185\u7dcf\u751f\u7523\uff08\uff27\uff24\uff30\uff09\u306e\uff16\u2500\uff17\uff05\u306b\u76f8\u5f53\u3059\u308b\u8ca1\u653f\u8d64\u5b57\u3092\u8a08\u4e0a\u3057\u3001\u50b5\u52d9\u304c\uff11\uff10\u5e74\u9593\u3067\u3055\u3089\u306b\uff13\u5146\u2500\uff15\u5146\u30c9\u30eb\u5897\u52a0\u3059\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3002<\/p>\n<p>\u30b5\u30e9\u30d9\u30ed\u30b9\u6c0f\u306f\u307e\u305f\u3001\u300c\u30d9\u30bb\u30f3\u30c8\u6c0f\u81ea\u8eab\u304c\u793a\u5506\u3057\u305f\u3088\u3046\u306b\u3001\u7c73\u56fd\u304c\u81ea\u56fd\u306e\u4e0d\u5747\u8861\u3092\u662f\u6b63\u3059\u308b\u610f\u601d\u304c\u306a\u3044\u306e\u3067\u3042\u308c\u3070\u3001\u4ed6\u56fd\u306b\u7c73\u56fd\u3068\u306e\u4e0d\u5747\u8861\u662f\u6b63\u3092\u6c42\u3081\u308b\u3053\u3068\u306f\u3067\u304d\u306a\u3044\u300d\u3068\u6307\u6458\u3057\u3001\u300c\u4e16\u754c\u5404\u56fd\u304c\u7c73\u56fd\u306b\u5bfe\u3057\u3001\u5e02\u5834\u306e\u6df7\u4e71\u306a\u3069\u3092\u901a\u3058\u3066\u7121\u79e9\u5e8f\u306a\u5f62\u3067\u662f\u6b63\u3092\u5f37\u3044\u308b\u30ea\u30b9\u30af\u304c\u3042\u308b\u300d\u3068\u8b66\u544a\u3057\u305f\u3002<\/p>\n<p>\u5916\u56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decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/05\/1747781180_573_chart.png\" alt=\"The triple A-rated bond club is getting smaller\"\/>The triple A-rated bond club is getting smaller<\/p>\n<p>\uff08\u7b46\u8005\u306f\u30ed\u30a4\u30bf\u30fc\u306e\u30b3\u30e9\u30e0\u30cb\u30b9\u30c8\u3067\u3059\u3002\u672c\u30b3\u30e9\u30e0\u306f\u7b46\u8005\u306e\u500b\u4eba\u7684\u898b\u89e3\u306b\u57fa\u3065\u3044\u3066\u66f8\u304b\u308c\u3066\u3044\u307e\u3059\uff09<\/p>\n<p data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__base__22dCE body__small_body__2vQyf article-body__element__2p5pI article-body__trust-badge__D_brm\">\u79c1\u305f\u3061\u306e\u884c\u52d5\u898f\u7bc4\uff1a\u30c8\u30e0\u30bd\u30f3\u30fb\u30ed\u30a4\u30bf\u30fc\u300c\u4fe1\u983c\u306e\u539f\u5247\u300d, opens new tab<\/p>\n<p>\u7b46\u8005\u306f\u300cReuters Breakingviews\u300d\u306e\u30b3\u30e9\u30e0\u30cb\u30b9\u30c8\u3067\u3059\u3002\u672c\u30b3\u30e9\u30e0\u306f\u7b46\u8005\u306e\u500b\u4eba\u7684\u898b\u89e3\u306b\u57fa\u3065\u3044\u3066\u66f8\u304b\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/05\/https:\/\/author-service-images-prod-us-east-1.publishing.aws.arc.pub\/reuters\/d55d5324-1ab4-48db-b7cc-.jpeg\"\/><\/p>\n<p data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__extra_small__1Mw6v body__base__22dCE body__extra_small_body__3QTYe author-bio__description__3uv33\">Mike Dolan is Reuters Editor-at-Large for Finance &amp; Markets and a regular columnist. He has worked as a correspondent, editor and columnist at Reuters for the past 30 years &#8211; specializing in global economics and policy and financial markets across G7 and emerging economies. Mike is based in London but has also worked in Washington DC and in Sarajevo and has covered news events from dozens of cities across the world. A graduate in economics and politics from Trinity College Dublin, Mike previously worked with Bloomberg and Euromoney and received Reuters awards for his work during the financial crisis in 2007\/2008 and on Frontier Markets in 2010.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u3000\uff15\u6708\uff12\uff10\u65e5\u3001\u5e02\u5834\u304c\u30e0\u30fc\u30c7\u30a3\u30fc\u30ba\u306b\u3088\u308b\u7c73\u56fd\u306e\u4fe1\u7528\u683c\u4ed8\u3051\u5f15\u304d\u4e0b\u3052\u3092\u51b7\u9759\u306b\u53d7\u3051\u6b62\u3081\u305f\u3053\u3068\u306b\u306f\u5341\u5206\u306a\u7406\u7531\u304c\u3042\u308b\u3002\u5199\u771f\u306f\u7c73\u30c9\u30eb\u7d19\u5e63\u3002\uff14\u6708\u64ae\u5f71\uff08\uff12\uff10\uff12\uff15\u5e74\u3000\u30ed\u30a4\u30bf\u30fc\/Dado Ruvic\uff09 [\u30ed\u30f3\u30c9\u30f3 \uff12\uff10\u65e5 \u30ed\u30a4\u30bf\u30fc] &#038;#82<\/p>\n","protected":false},"author":2,"featured_media":2511359,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[395391],"tags":[392636,17023,762691,762764,762760,762712,762713,762767,762814,222298,762772,766561,766116,102465,762786,773935,39760,77593,589033,762717,762718,762915,135664,762916,765957,769534,188089,762684,762685,762777,25737,763032,762697,201,762815,238274,762813,688579,762690,762679,705736,89874,200],"class_list":{"0":"post-2530366","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-breaking-news","8":"tag-fund","9":"tag-aaa","10":"tag-amers","11":"tag-anlins","12":"tag-anv","13":"tag-bisv","14":"tag-bisv08","15":"tag-bojj","16":"tag-cen","17":"tag-clm","18":"tag-dbt","19":"tag-destnojpzam","20":"tag-destnojpztm","21":"tag-eco","22":"tag-econ","23":"tag-eub","24":"tag-fed","25":"tag-fes","26":"tag-fin","27":"tag-fins","28":"tag-fins08","29":"tag-frx","30":"tag-gen","31":"tag-gvd","32":"tag-hyd","33":"tag-igd","34":"tag-int","35":"tag-jfor","36":"tag-jln","37":"tag-mce","38":"tag-mmt","39":"tag-mtgfx","40":"tag-namer","41":"tag-news","42":"tag-plcy","43":"tag-pol","44":"tag-rep","45":"tag-stx","46":"tag-topcmb","47":"tag-topnws","48":"tag-trn","49":"tag-us","50":"tag-200"},"share_on_mastodon":{"url":"https:\/\/wakoka.com\/@news\/114542601580525913","error":""},"_links":{"self":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts\/2530366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/comments?post=2530366"}],"version-history":[{"count":0,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts\/2530366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media\/2511359"}],"wp:attachment":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media?parent=2530366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/categories?post=2530366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/tags?post=2530366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}