{"id":2658072,"date":"2025-10-01T05:12:54","date_gmt":"2025-10-01T05:12:54","guid":{"rendered":"https:\/\/www.wacoca.com\/news\/2658072\/"},"modified":"2025-10-01T05:12:54","modified_gmt":"2025-10-01T05:12:54","slug":"%e3%82%b3%e3%83%a9%e3%83%a0%ef%bc%9a%e7%b1%b3%e5%9b%bd%e3%81%ae4%e6%88%90%e9%95%b7%e3%81%a8%e9%9b%87%e7%94%a8%e5%89%b5%e5%87%ba%e5%81%9c%e6%bb%9e%e3%82%92%e3%81%a9%e3%81%86%e8%aa%ac%e6%98%8e%e3%81%99","status":"publish","type":"post","link":"https:\/\/www.wacoca.com\/news\/2658072\/","title":{"rendered":"\u30b3\u30e9\u30e0\uff1a\u7c73\u56fd\u306e4%\u6210\u9577\u3068\u96c7\u7528\u5275\u51fa\u505c\u6ede\u3092\u3069\u3046\u8aac\u660e\u3059\u308b\u304b | \u30ed\u30a4\u30bf\u30fc"},"content":{"rendered":"

\"コラム：米国の4％成長と雇用創出停滞をどう説明するか\"\/<\/p>\n

\u7c73\u7d4c\u6e08\u306f\u307b\u307c\uff14\uff05\u306e\u6210\u9577\u3092\u9042\u3052\u3066\u3044\u308b\u306e\u306b\u306a\u305c\u96c7\u7528\u304c\u5897\u3048\u3066\u3044\u306a\u3044\u306e\u304b\u3002\u5199\u771f\u306f\u5efa\u8a2d\u73fe\u5834\u3002\uff17\u6708\uff11\uff14\u65e5\u3001\u30a2\u30e9\u30d0\u30de\u5dde\u30e2\u30fc\u30d3\u30eb\u3067\u64ae\u5f71\uff08\uff12\uff10\uff12\uff15\u5e74\u3000\u30ed\u30a4\u30bf\u30fc\/Megan Smith\uff09<\/p>\n

[\u30ed\u30f3\u30c9\u30f3 \uff13\uff10\u65e5 \u30ed\u30a4\u30bf\u30fc] – \u7c73\u7d4c\u6e08\u306f\u307b\u307c\uff14\uff05\u306e\u6210\u9577\u3092\u9042\u3052\u3066\u3044\u308b\u306e\u306b\u306a\u305c\u96c7\u7528\u304c\u5897\u3048\u3066\u3044\u306a\u3044\u306e\u304b\u3002\u3053\u308c\u306f\u6fc0\u52d5\u306e\uff12\uff10\uff12\uff15\u5e74\u304c\u6700\u7d42\u306e\u56db\u534a\u671f\u306b\u5165\u308b\u73fe\u6642\u70b9\u3067\u3001\u6700\u3082\u5927\u304d\u306a\u8b0e\u306e\u3072\u3068\u3064\u3060\u3002\u305d\u306e\u7b54\u3048\u306f\u4eba\u5de5\u77e5\u80fd\uff08\uff21\uff29\uff09\u306b\u3042\u308b\u306e\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001\u8a3c\u660e\u3059\u308b\u306e\u306f\u96e3\u3057\u3044\u3060\u308d\u3046\u3002<\/p>\n

\u7c73\u91d1\u878d\u5e02\u5834\u306f\uff14\u6708\u3001\u30c8\u30e9\u30f3\u30d7\u7c73\u5927\u7d71\u9818\u306e\u95a2\u7a0e\u8a08\u753b\u767a\u8868\u306e\u305f\u3081\u306b\u5fc3\u81d3\u767a\u4f5c\u5bf8\u524d\u306e\u6253\u6483\u3092\u53d7\u3051\u305f\u304c\u305d\u306e\u5f8c\u306f\u529b\u5f37\u304f\u53cd\u767a\u3057\u3001\uff33\uff30\uff15\uff10\uff10\u7a2e\u306f\u5b89\u5024\u304b\u3089\uff13\uff13\uff05\u3082\u4e0a\u6607\u3057\u305f\u3002\u4e00\u65b9\u3067\u7c73\u7d4c\u6e08\u306f\u7b2c\uff13\u30fb\u56db\u534a\u671f\u7d42\u4e86\u6642\u70b9\u3067\u5e74\u7387\u63db\u7b97\uff13\uff0e\uff19\uff05\u6210\u9577\u306e\u8ecc\u9053\u306b\u4e57\u3063\u3066\u3044\u308b\u3002<\/p>\n

\"USUS GDP growth tracking 3.9% as Q3 comes to an end<\/p>\n

\u3055\u3089\u306b\u3001\u91d1\u878d\u74b0\u5883\u304c\u307b\u307c\u3053\u306e\uff14\u5e74\u9593\u3067\u6700\u3082\u7de9\u548c\u7684\u306a\u72b6\u614b\u306b\u3042\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u7c73\u9023\u90a6\u6e96\u5099\u7406\u4e8b\u4f1a\uff08\uff26\uff32\uff22\uff09\u306f\u518d\u3073\u91d1\u878d\u7de9\u548c\u3092\u5b9f\u65bd\u3057\u305f\u3002 \u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u3068\uff26\uff32\uff22\u306e\u30e1\u30f3\u30d0\u30fc\u304c\u52b4\u50cd\u5e02\u5834\u306b\u3064\u3044\u3066\u61f8\u5ff5\u3057\u3066\u3044\u308b\u304b\u3089\u3060\u3002<\/p>\n

\u3067\u306f\u3001\u7d4c\u6e08\u304c\u7d76\u597d\u8abf\u3067\u4f01\u696d\u306e\u8a2d\u5099\u6295\u8cc7\u304c\u6025\u5897\u3057\u3001\u682a\u5f0f\u5e02\u5834\u304c\u6700\u9ad8\u5024\u3092\u66f4\u65b0\u3057\u7d9a\u3051\u3066\u3044\u308b\u72b6\u6cc1\u3067\u3001\u306a\u305c\u52b4\u50cd\u5e02\u5834\u304c\u5916\u898b\u4e0a\u5f31\u3005\u3057\u304f\u898b\u3048\u308b\u306e\u304b\u3002<\/p>\n

\u7b2c\uff13\u30fb\u56db\u534a\u671f\u3092\u901a\u3058\u3066\u682a\u3001\u50b5\u5238\u3001\u30c9\u30eb\u306a\u3069\u306e\u3055\u307e\u3056\u307e\u306a\u6307\u6a19\u304c\u5805\u8abf\u306b\u63a8\u79fb\u3057\u305f\u304c\u300c\u30de\u30b0\u30cb\u30d5\u30a3\u30bb\u30f3\u30c8\uff17\u300d\u3068\u547c\u3070\u308c\u308b\u5de8\u5927\u30c6\u30c3\u30af\u682a\uff17\u9298\u67c4\u306e\u682a\u4fa1\u306f\u5e74\u521d\u6765\u5b89\u5024\u304b\u3089\uff16\uff10\uff05\u3068\u3044\u3046\u9a5a\u304f\u3079\u304d\u4e0a\u6607\u7387\u3092\u8a18\u9332\u3057\u305f\u3002<\/p>\n

\"Q3Q3 and YTD tallies for selected global asset prices<\/p>\n

\uff2a\uff30\u30e2\u30eb\u30ac\u30f3\u306e\u30a8\u30b3\u30ce\u30df\u30b9\u30c8\u306f\u6700\u8fd1\u3001\uff12\uff15\u5e74\u524d\u534a\u306e\u8a2d\u5099\u6295\u8cc7\u304c\u5e74\u7387\uff11\uff11\uff05\u5897\u3068\u306a\u308a\u3001\u6295\u8cc7\u306e\u4f38\u3073\u304c\u7b2c\uff13\u30fb\u56db\u534a\u671f\u3082\u52b4\u50cd\u9700\u8981\u304c\u3057\u307c\u3080\u4e00\u65b9\u3067\u529b\u5f37\u3055\u3092\u4fdd\u3063\u3066\u3044\u308b\u3068\u6307\u6458\u3057\u305f\u3002<\/p>\n

\u7c73\u56fd\u306e\u96c7\u7528\u5275\u51fa\u306f\u5927\u5e45\u306b\u920d\u5316\u3057\u3066\u304a\u308a\u3001\uff18\u6708\u307e\u3067\u306e\u76f4\u8fd1\uff13\u30ab\u6708\u306e\u6708\u5e73\u5747\u306f\u308f\u305a\u304b\uff12\u4e07\uff19\uff10\uff10\uff10\u4eba\u306b\u3068\u3069\u307e\u3063\u305f\u3002\uff12\uff14\u5e74\u306e\u540c\u6642\u671f\u306f\uff18\u4e07\uff12\uff10\uff10\uff10\u4eba\u3060\u3063\u305f\u3002\uff19\u6708\u306e\u30c7\u30fc\u30bf\u306f\uff13\u65e5\u306b\u767a\u8868\u3055\u308c\u308b\u4e88\u5b9a\u3060\u3002<\/p>\n

\uff2a\uff30\u30e2\u30eb\u30ac\u30f3\u306f\u5148\u9031\u672b\u306e\u30ea\u30dd\u30fc\u30c8\u300c\u5947\u5999\u306a\u5206\u96e2\u300d\u3067\u300c\u8a2d\u5099\u6295\u8cc7\u304c\u52a0\u901f\u3059\u308b\u4e00\u65b9\u3067\u96c7\u7528\u5275\u51fa\u304c\u505c\u6ede\u3059\u308b\u3068\u3044\u3046\u72b6\u6cc1\u306f\u898b\u901a\u3057\u306b\u7d44\u307f\u8fbc\u3080\u306e\u304c\u96e3\u3057\u3044\u300d\u3068\u3057\u305f\u4e0a\u3067\u300c\u8a2d\u5099\u6295\u8cc7\u306e\u52a0\u901f\u3068\u96c7\u7528\u5275\u51fa\u306e\u505c\u6ede\u304c\u4f75\u5b58\u3059\u308b\u4e8b\u614b\u306f\u904e\u53bb\uff16\uff10\u5e74\u9593\u306e\u3069\u306e\u7c73\u666f\u6c17\u62e1\u5927\u671f\u306b\u3082\u898b\u3089\u308c\u306a\u304b\u3063\u305f\u300d\u3068\u66f8\u3044\u305f\u3002<\/p>\n

\"JPMorganJPMorgan chart on brisk US capex spend versus sagging employment<\/p>\n

\u984d\u9762\u901a\u308a\u306b\u53d7\u3051\u6b62\u3081\u308c\u3070\u3001\u52b4\u50cd\u5e02\u5834\u306e\u4e00\u90e8\u6307\u6a19\u306f\u666f\u6c17\u5f8c\u9000\u306e\u30b7\u30b0\u30ca\u30eb\u3092\u70b9\u6ec5\u3055\u305b\u3066\u3044\u308b\u3002\uff26\uff32\uff22\u5f53\u5c40\u8005\u305f\u3061\u304c\u5fc3\u914d\u3057\u3066\u3044\u308b\u3088\u3046\u306b\u898b\u3048\u3066\u3044\u3066\u3082\u3001\u682a\u5f0f\u5e02\u5834\u3084\u4fe1\u7528\u5e02\u5834\u306f\u3053\u3046\u3057\u305f\u30b7\u30b0\u30ca\u30eb\u3092\u5b8c\u5168\u306b\u7121\u8996\u3057\u3066\u3044\u308b\u304b\u306e\u3088\u3046\u3060\u3002<\/p>\n

\uff34\uff33\u30ed\u30f3\u30d0\u30fc\u30c9\u306e\u30a8\u30b3\u30ce\u30df\u30b9\u30c8\u3001\u30c0\u30ea\u30aa\u30fb\u30d1\u30fc\u30ad\u30f3\u30b9\u6c0f\u306f\u6700\u8fd1\u300c\uff26\uff32\uff22\u3092\u6050\u308c\u3055\u305b\u3066\u3044\u308b\u300d\u3068\u3059\u308b\u30c1\u30e3\u30fc\u30c8\u306b\u6ce8\u610f\u3092\u5411\u3051\u305f\u3002\u3053\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u653f\u5e9c\u90e8\u9580\u3068\u533b\u7642\u8077\u3092\u9664\u304f\u300c\u30b3\u30a2\u96c7\u7528\u300d\u306e\uff16\u30ab\u6708\u5909\u5316\u7387\u304c\u30bc\u30ed\u8fd1\u8fba\u306b\u3042\u308b\u3053\u3068\u3092\u793a\u3057\u3066\u3044\u308b\u3002\u3053\u306e\u6570\u5024\u304c\u904e\u53bb\uff16\uff10\u5e74\u9593\u3067\u30de\u30a4\u30ca\u30b9\u306b\u8ee2\u3058\u305f\u6642\u306f\u5fc5\u305a\u666f\u6c17\u5f8c\u9000\u304c\u751f\u3058\u305f\u306e\u3060\u3002<\/p>\n

\u30d1\u30fc\u30ad\u30f3\u30b9\u6c0f\u306f\u300c\uff26\uff32\uff22\u306f\u96c7\u7528\u304c\u4f38\u3073\u306a\u304f\u306a\u3063\u305f\u6642\u306b\u3044\u3064\u3082\u3059\u308b\u3053\u3068\u3092\u3057\u3066\u3044\u308b\u3001\u3064\u307e\u308a\u300e\u5931\u901f\u901f\u5ea6\u300f\u306b\u9665\u308b\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u30d1\u30cb\u30c3\u30af\u306b\u306a\u3063\u3066\u3044\u308b\u300d\u3068\u66f8\u3044\u305f\u3002<\/p>\n

\"TSTS Lombard chart on 6-monthly changes in US ‘core’ payrolls and recessions<\/p>\n

\uff1c\uff16\uff10\u5e74\u306e\u8b0e\u304b\u3001\u305d\u308c\u3068\u3082\u5b8c\u74a7\u306a\u5bfe\u7acb\u304b\uff1e<\/p>\n

\u3067\u306f\u3001\u306a\u305c\u682a\u5f0f\u5e02\u5834\u306f\u52d5\u3058\u3066\u3044\u306a\u3044\u306e\u304b\uff1f<\/p>\n

\u4e00\u56e0\u3068\u3057\u3066\u306f\u3001\u6295\u8cc7\u5bb6\u304c\uff26\uff32\uff22\u306f\u4eca\u3084\u554f\u984c\u3092\u56de\u907f\u3059\u308b\u305f\u3081\u306b\u8fc5\u901f\u306b\u91d1\u878d\u7de9\u548c\u306b\u52d5\u304f\u3060\u308d\u3046\u3001\u96c7\u7528\u60c5\u52e2\u306f\u79fb\u6c11\u306e\u6e1b\u5c11\u3084\u751f\u7523\u6027\u306e\u5411\u4e0a\u304c\u7406\u7531\u3067\u3042\u308a\u3001\uff26\uff32\uff22\u304c\u3044\u305a\u308c\u306b\u305b\u3088\u5ff5\u306e\u305f\u3081\u306b\u7de9\u548c\u3059\u308b\u3060\u308d\u3046\u3068\u8003\u3048\u3066\u3044\u308b\u304b\u3089\u3060\u3002<\/p>\n

\"HSBCHSBC chart on S&P500 historical performance after Fed easing resumes<\/p>\n

\uff2a\uff30\u30e2\u30eb\u30ac\u30f3\u306e\u30c1\u30fc\u30e0\u306f\u7d76\u597d\u8abf\u306e\u8a2d\u5099\u6295\u8cc7\u3068\u96c7\u7528\u5275\u51fa\u306e\u505c\u6ede\u306e\u5bfe\u7acb\u3092\u8aac\u660e\u3059\u308b\u305f\u3081\u306b\uff12\u3064\u306e\u898b\u65b9\u3092\u63d0\u793a\u3057\u3066\u3044\u308b\u3002<\/p>\n

\u697d\u89b3\u7684\u306a\u898b\u65b9\u3068\u3057\u3066\u306f\u3001\uff21\uff29\u3084\u305d\u306e\u4ed6\u306e\u65b0\u6280\u8853\u304c\u9996\u5c3e\u3088\u304f\u5c0e\u5165\u3055\u308c\u3066\u304a\u308a\u3001\u52b4\u50cd\u4f9b\u7d66\u304c\u6e1b\u5c11\u3059\u308b\u306e\u306b\u5f93\u3063\u3066\u96c7\u7528\u30da\u30fc\u30b9\u3092\u843d\u3068\u305b\u308b\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n

\u3053\u3046\u3057\u305f\u5bfe\u7acb\u304c\u53b3\u5bc6\u306b\u8a00\u3063\u3066\u30de\u30af\u30ed\u7d4c\u6e08\u7684\u306b\u540c\u6642\u306b\u8d77\u3053\u308b\u3053\u3068\u306f\u3042\u308a\u5f97\u305d\u3046\u306b\u306a\u3044\u3002\u305d\u308c\u3067\u3082\u3001\u79fb\u6c11\u898f\u5236\u3084\u4e0d\u6cd5\u79fb\u6c11\u306e\u56fd\u5916\u9000\u53bb\u306e\u5f71\u97ff\u3067\u300c\u30d6\u30ec\u30fc\u30af\u30a4\u30fc\u30d6\u30f3\u96c7\u7528\u5897\uff08\u5931\u696d\u7387\u3092\u4e00\u5b9a\u306b\u4fdd\u3064\u305f\u3081\u306b\u5fc5\u8981\u306a\u6708\u9593\u306e\u96c7\u7528\u5897\u52a0\u6570\uff09\u300d\u304c\uff15\u4e07\u4eba\u4ee5\u4e0b\u306b\u62bc\u3055\u3048\u8fbc\u307e\u308c\u3066\u3044\u308b\u3068\u3055\u308c\u308b\u72b6\u6cc1\u3068\u7b26\u5408\u3059\u308b\u3002<\/p>\n

\u3060\u304b\u3089\u3001\u4e00\u90e8\u306e\u30a8\u30b3\u30ce\u30df\u30b9\u30c8\u306f\u4eca\u3084\u6708\u6b21\u306e\u96c7\u7528\u7d71\u8a08\u304c\u307e\u3082\u306a\u304f\u30de\u30a4\u30ca\u30b9\u306b\u8ee2\u3058\u3066\u3082\u91d1\u878d\u5e02\u5834\u306f\u5fc5\u305a\u3057\u3082\u9a5a\u304b\u306a\u3044\u53ef\u80fd\u6027\u304c\u3042\u308b\u3060\u308d\u3046\u3068\u898b\u306a\u3057\u3066\u3044\u308b\u3002<\/p>\n

\u4e00\u65b9\u3067\uff2a\uff30\u30e2\u30eb\u30ac\u30f3\u306e\u60b2\u89b3\u7684\u30b7\u30ca\u30ea\u30aa\u3067\u306f\u3001\u63a1\u7528\u306e\u6e1b\u5c11\u306f\u4f01\u696d\u5168\u4f53\u306e\u614e\u91cd\u59ff\u52e2\u3092\u53cd\u6620\u3057\u3066\u304a\u308a\u3001\u8a2d\u5099\u6295\u8cc7\u306e\u62e1\u5927\u306f\uff21\uff29\u4e3b\u5c0e\u306e\u7bc4\u56f2\u306e\u9650\u3089\u308c\u305f\u30d6\u30fc\u30e0\u304c\u5f8c\u9000\u3057\u3064\u3064\u3042\u308b\u6700\u7d42\u5c40\u9762\u306b\u3042\u308b\u3002\u3082\u3057\u3082\u305d\u3046\u306a\u3089\u3070\u3001\u52b4\u50cd\u5e02\u5834\u306e\u6e1b\u901f\u306f\u5bb6\u8a08\u306e\u8cfc\u8cb7\u529b\u3092\u5f31\u3089\u305b\u59cb\u3081\u3001\u8f38\u5165\u95a2\u7a0e\u3084\u30c9\u30eb\u306b\u95a2\u9023\u3057\u305f\u30a4\u30f3\u30d5\u30ec\u5727\u529b\u3068\u7d44\u307f\u5408\u308f\u3055\u3063\u3066\u666f\u6c17\u306b\u6253\u6483\u3092\u4e0e\u3048\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/p>\n

\u3053\u306e\u554f\u984c\u304c\u4eca\u5e74\u306e\u6700\u7d42\u56db\u534a\u671f\u306e\u3046\u3061\u306b\u5b8c\u5168\u306b\u89e3\u6c7a\u3059\u308b\u3068\u306f\u9650\u3089\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n

\u3072\u3068\u3064\u306b\u306f\u3001\u7c73\u653f\u5e9c\u9589\u9396\u306e\u53ef\u80fd\u6027\u304c\u3042\u308a\u3001\u305d\u306e\u5834\u5408\u306f\uff19\u6708\u96c7\u7528\u7d71\u8a08\u306e\u5b8c\u5168\u306a\u767a\u8868\u3092\u6570\u9031\u9593\u5f85\u305f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u304b\u3082\u3057\u308c\u306a\u3044\u3002\uff19\u6708\u96c7\u7528\u7d71\u8a08\u306f\uff17\u2500\uff19\u6708\u671f\u306e\u3053\u3046\u3057\u305f\u50be\u5411\u3092\u8ffd\u8a8d\u3059\u308b\u306e\u304b\u3001\u307e\u305f\u306f\u5426\u5b9a\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n

\u8a2d\u5099\u6295\u8cc7\u306e\u5074\u9762\u3067\u306f\u3001\u8feb\u308b\u6c7a\u7b97\u30b7\u30fc\u30ba\u30f3\u304c\u3088\u308a\u591a\u304f\u306e\u60c5\u5831\u3092\u3082\u305f\u3089\u3059\u3060\u308d\u3046\u3002\u30de\u30a4\u30af\u30ed\u30bd\u30d5\u30c8(MSFT.O), opens new tab\u3001\u30a2\u30eb\u30d5\u30a1\u30d9\u30c3\u30c8(GOOGL.O), opens new tab\u3001\u30a2\u30de\u30be\u30f3(AMZN.O), opens new tab\u3068\u3044\u3063\u305f\u3044\u308f\u3086\u308b\u300c\u30cf\u30a4\u30d1\u30fc\u30b9\u30b1\u30fc\u30e9\u30fc\u300d\u306e\uff21\uff29\u95a2\u9023\u652f\u51fa\u306e\u8a73\u7d30\u3092\u78ba\u8a8d\u3059\u308b\u3060\u3051\u3067\u306a\u304f\u3001\u7523\u696d\u754c\u304c\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u3084\u305d\u306e\u4ed6\u306e\u7269\u7406\u7684\u30a4\u30f3\u30d5\u30e9\u306e\u6025\u6fc0\u306a\u5efa\u8a2d\u304b\u3089\u3069\u306e\u7a0b\u5ea6\u6069\u6075\u3082\u53d7\u3051\u3066\u3044\u308b\u306e\u304b\u3069\u3046\u304b\u3082\u4e00\u5c64\u660e\u3089\u304b\u306b\u306a\u308b\u3002\uff28\uff33\uff22\uff23\u306e\u7c73\u56fd\u682a\u30c1\u30fc\u30e0\u306f\u305f\u3068\u3048\u3070\u3001\u7b2c\uff13\u30fb\u56db\u534a\u671f\u306e\u6c7a\u7b97\u30b7\u30fc\u30ba\u30f3\u304c\u30c6\u30c3\u30af\u6295\u8cc7\u30c6\u30fc\u30de\u3092\u78ba\u8a8d\u3057\u3055\u3089\u306b\u5f37\u5316\u3059\u308b\u3068\u898b\u3066\u3044\u308b\u3002\u30de\u30b0\u30cb\u30d5\u30a3\u30bb\u30f3\u30c8\uff17\u306e\u624b\u5143\u8cc7\u91d1\u7d04\uff11\u5146\u30c9\u30eb\u306e\u3046\u3061\u3001\uff14\uff11\uff14\uff10\u5104\u30c9\u30eb\u304c\u8a2d\u5099\u6295\u8cc7\u306b\u5145\u3066\u3089\u308c\u308b\u3068\u4e88\u6e2c\u3057\u3066\u304a\u308a\u3001\u30a2\u30c3\u30d7\u30eb(AAPL.O), opens new tab\u3082\u4ed6\u793e\u306b\u8ffd\u3044\u4ed8\u304f\u4f59\u5730\u304c\u3042\u308b\u3068\u3044\u3046\u3002\"HSBCHSBC chart on concentration of tech capex spend in US megacaps<\/p>\n

\u3057\u304b\u3057\u306a\u304c\u3089\u3001\uff21\uff29\u8a2d\u5099\u6295\u8cc7\u306f\u3042\u308b\u7a0b\u5ea6\u6e1b\u901f\u304c\u907f\u3051\u3089\u308c\u306a\u3044\u3068\u898b\u3089\u308c\u3001\u73fe\u5728\u306e\u7d4c\u6e08\u7684\u306a\u8b0e\u306b\u5bfe\u3057\u3066\u6e80\u8db3\u3067\u304d\u308b\u7b54\u3048\u3092\u51fa\u305b\u305d\u3046\u306b\u306a\u3044\u3002\u96c7\u7528\u306e\u8db3\u8e0f\u307f\u3068\u4f01\u696d\u6295\u8cc7\u306e\u81ea\u4fe1\u304c\u660e\u3089\u304b\u306b\u77db\u76fe\u3057\u305f\u72b6\u614b\u304c\u3069\u308c\u3060\u3051\u9577\u304f\u5171\u5b58\u3067\u304d\u308b\u306e\u304b\u3001\u5f15\u304d\u7d9a\u304d\u6700\u7d42\u56db\u534a\u671f\u306b\u304b\u3051\u3066\u306e\u6700\u5927\u306e\u7126\u70b9\u3068\u306a\u308a\u305d\u3046\u3060\u3002<\/p>\n

\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

\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

\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

\"Mike<\/p>\n

Mike Dolan is Reuters Editor-at-Large for Finance & Markets and a regular columnist. He has worked as a correspondent, editor and columnist at Reuters for the past 30 years – 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":"

\u7c73\u7d4c\u6e08\u306f\u307b\u307c\uff14\uff05\u306e\u6210\u9577\u3092\u9042\u3052\u3066\u3044\u308b\u306e\u306b\u306a\u305c\u96c7\u7528\u304c\u5897\u3048\u3066\u3044\u306a\u3044\u306e\u304b\u3002\u5199\u771f\u306f\u5efa\u8a2d\u73fe\u5834\u3002\uff17\u6708\uff11\uff14\u65e5\u3001\u30a2\u30e9\u30d0\u30de\u5dde\u30e2\u30fc\u30d3\u30eb\u3067\u64ae\u5f71\uff08\uff12\uff10\uff12\uff15\u5e74\u3000\u30ed\u30a4\u30bf\u30fc\/Megan Smith\uff09 [\u30ed\u30f3\u30c9\u30f3 \uff13\uff10\u65e5 \u30ed\u30a4\u30bf\u30fc] – \u7c73\u7d4c<\/p>\n","protected":false},"author":2,"featured_media":2658073,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[674789],"tags":[392636,630447,17023,762691,762764,762760,763282,762767,762814,762879,764482,762828,222298,764306,762715,762682,762772,766561,766116,762774,102465,762786,39760,589033,762717,762915,763283,25615,135664,763978,762916,765957,769534,762723,762684,762685,22142,785331,141481,762777,25737,84497,763032,762697,763023,778236,764307,764308,762815,238274,762729,762813,763856,764309,622598,110753,53321,157336,763352,764310,765456,764311,764610,688579,763028,170696,762889,104159,99360,48489,705736,784990,89874,30355,70245,72702],"class_list":{"0":"post-2658072","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"tag-fund","9":"tag-g7","10":"tag-aaa","11":"tag-amers","12":"tag-anlins","13":"tag-anv","14":"tag-arti","15":"tag-bojj","16":"tag-cen","17":"tag-chip","18":"tag-cinv","19":"tag-clj","20":"tag-clm","21":"tag-cmpelc","22":"tag-cmpny","23":"tag-cycs","24":"tag-dbt","25":"tag-destnojpzam","26":"tag-destnojpztm","27":"tag-eci","28":"tag-eco","29":"tag-econ","30":"tag-fed","31":"tag-fin","32":"tag-fins","33":"tag-frx","34":"tag-g8","35":"tag-gdp","36":"tag-gen","37":"tag-gfin","38":"tag-gvd","39":"tag-hyd","40":"tag-igd","41":"tag-intag","42":"tag-jfor","43":"tag-jln","44":"tag-job","45":"tag-jptopicbusiness-tech-ai","46":"tag-law","47":"tag-mce","48":"tag-mmt","49":"tag-mtg","50":"tag-mtgfx","51":"tag-namer","52":"tag-netsv","53":"tag-pfund","54":"tag-phne","55":"tag-phones","56":"tag-plcy","57":"tag-pol","58":"tag-publ","59":"tag-rep","60":"tag-ret","61":"tag-rete","62":"tag-roi","63":"tag-sci","64":"tag-semi","65":"tag-shop","66":"tag-shopal","67":"tag-sofw","68":"tag-sofw1","69":"tag-spcret","70":"tag-srchen","71":"tag-stx","72":"tag-swit","73":"tag-tech","74":"tag-teeq","75":"tag-tmt","76":"tag-trd","77":"tag-trf","78":"tag-trn","79":"tag-united-states-of-america","80":"tag-us","81":"tag-usa","82":"tag-70245","83":"tag-72702"},"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts\/2658072","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=2658072"}],"version-history":[{"count":0,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts\/2658072\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media\/2658073"}],"wp:attachment":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media?parent=2658072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/categories?post=2658072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/tags?post=2658072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}