ロシアの空爆再開、企業活動に影を落とすトランプ関税──債券不安は続き金が暴騰。日銀会合を前に日経反落、各国休場の中で米国市場は反転できるか｜2025/4/21 相場雑感

2025年4月21日、日経平均は前日比1.3%安と反落。トランプ関税による企業活動への影響が顕在化し始める中、ロシアの空爆再開によって地政学リスクが再燃。債券市場の不安は解消されず、安全資産としての金は3,400ドル台に迫る暴騰。多くの主要国市場が休場となる中、日本市場はややリスクオフのムードで推移。34,000円の攻防が焦点となる中、注目は米国市場がこの不安定な状況を跳ね返す展開を見せるかどうか。日銀の政策決定会合や政府関係者との面会を控えたタイミングで、マーケットが何を織り込み始めているのかを冷静に見極める1日となった。___ On April 21, 2025, the Nikkei 225 fell 1.3% from the previous day. As the impact of Trump’s tariffs on corporate activity began to surface, geopolitical tensions flared up again with Russia resuming airstrikes. Concerns in the bond market remain unresolved, driving gold prices up sharply toward the $3,400 level as investors seek safety. With most major global markets closed for the day, Japan’s market moved in a risk-off mood. The key level of 34,000 yen is now being tested, and attention is turning to whether the U.S. market can bounce back amid this uncertainty. With the Bank of Japan’s upcoming policy meeting and scheduled talks between BOJ and government officials, today became a moment to calmly assess what the market is starting to price in.