{"id":31001,"date":"2026-03-24T07:09:04","date_gmt":"2026-03-24T07:09:04","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/japonyada-taze-gida-haric-cekirdek-tufe-subatta-yillik-bazda-yuzde-16-artti-yuzde-17lik-beklentinin-altinda-kaldi\/"},"modified":"2026-03-24T07:09:04","modified_gmt":"2026-03-24T07:09:04","slug":"japonyada-taze-gida-haric-cekirdek-tufe-subatta-yillik-bazda-yuzde-16-artti-yuzde-17lik-beklentinin-altinda-kaldi","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/japonyada-taze-gida-haric-cekirdek-tufe-subatta-yillik-bazda-yuzde-16-artti-yuzde-17lik-beklentinin-altinda-kaldi\/","title":{"rendered":"Japonya\u2019da taze g\u0131da hari\u00e7 \u00e7ekirdek T\u00dcFE, \u015fubatta y\u0131ll\u0131k bazda y\u00fczde 1,6 artt\u0131; y\u00fczde 1,7\u2019lik beklentinin alt\u0131nda kald\u0131"},"content":{"rendered":"Japonya\u2019n\u0131n taze g\u0131da hari\u00e7 ulusal T\u00dcFE\u2019si (T\u00fcketici Fiyat Endeksi: t\u00fcketicinin sat\u0131n ald\u0131\u011f\u0131 \u00fcr\u00fcn ve hizmetlerin fiyat de\u011fi\u015fimini g\u00f6steren enflasyon g\u00f6stergesi) \u015fubatta y\u0131ll\u0131k bazda %1,6 artt\u0131. Bu oran, %1,7\u2019lik beklentinin alt\u0131nda kald\u0131.\n\nBu veri, taze g\u0131da hari\u00e7 enflasyonun tahmin edilenden daha zay\u0131f geldi\u011fini g\u00f6steriyor. Bu g\u00f6sterge, taze g\u0131da kalemleri \u00e7\u0131kar\u0131larak fiyat e\u011filimini daha net izlemeyi ama\u00e7lar.\n\n<h3>Japonya Merkez Bankas\u0131 Politikas\u0131 \u0130\u00e7in Sonu\u00e7lar<\/h3>\nBeklentinin alt\u0131nda kalan enflasyon, Japonya Merkez Bankas\u0131\u2019n\u0131n (BoJ) yak\u0131n zamanda yeniden faiz art\u0131rmas\u0131 \u00fczerindeki bask\u0131y\u0131 azalt\u0131r. Bu nedenle piyasan\u0131n y\u0131l ortas\u0131na kadar \u201cikinci faiz art\u0131\u015f\u0131\u201d beklentisi (piyasa uzla\u015f\u0131s\u0131: yat\u0131r\u0131mc\u0131lar\u0131n genel beklentisi) yeniden de\u011ferlendirilmeli. Veri, temel fiyat bask\u0131lar\u0131n\u0131n (geni\u015f tabanl\u0131 enflasyon e\u011filimi) san\u0131landan daha s\u0131n\u0131rl\u0131 oldu\u011funu i\u015faret ediyor.\n\nEn h\u0131zl\u0131 etki yen taraf\u0131nda g\u00f6r\u00fcl\u00fcr; yenin dolar kar\u015f\u0131s\u0131nda zay\u0131flamas\u0131 olas\u0131. ABD Merkez Bankas\u0131\u2019n\u0131n (Fed) faizleri 2025 sonuna kadar yakla\u015f\u0131k %3,5 seviyesinde tutmas\u0131 halinde, faiz fark\u0131 (iki \u00fclkenin faiz oranlar\u0131 aras\u0131ndaki fark) y\u00fcksek kal\u0131r. Bu da \u00f6n\u00fcm\u00fczdeki haftalar i\u00e7in USD\/JPY al\u0131m opsiyonu (call option: belirli bir tarihe kadar belirli bir fiyattan alma hakk\u0131) almay\u0131, 155 seviyesinin \u00fczerine hareket hedefiyle daha mant\u0131kl\u0131 bir strateji haline getirebilir.\n\nGe\u00e7en y\u0131l BoJ\u2019un ilk k\u00fc\u00e7\u00fck faiz art\u0131\u015f\u0131ndan sonra da benzer bir tablo g\u00f6r\u00fclm\u00fc\u015ft\u00fc. Piyasa h\u0131zl\u0131 bir devam hamlesini fiyatlam\u0131\u015ft\u0131 (fiyatlamak: beklentiyi varl\u0131k fiyat\u0131na yans\u0131tmak). Ancak ocakta \u00fccret art\u0131\u015f\u0131 verisi yaln\u0131zca %1,9 gelince, merkez bankas\u0131n\u0131n bekle-g\u00f6r yakla\u015f\u0131m\u0131n\u0131 s\u00fcrd\u00fcrece\u011fi sinyali olu\u015fmu\u015ftu. Bu T\u00dcFE sapmas\u0131 da (beklentinin alt\u0131nda kalma) temkinli duru\u015fu destekliyor.\n\nHisse senedi taraf\u0131nda ise daha zay\u0131f yen ve bekleyen bir merkez bankas\u0131, \u00f6zellikle ihracat\u00e7\u0131 \u015firketler i\u00e7in Japon borsas\u0131n\u0131 destekler. Nikkei 225 endeksi y\u0131lba\u015f\u0131ndan bu yana %8\u2019in \u00fczerinde y\u00fckseldi ve yak\u0131n d\u00f6nemde 42.000 seviyesini a\u015ft\u0131. Bu olumlu r\u00fczg\u00e2rdan yararlanmak i\u00e7in Nikkei vadeli kontratlar\u0131nda (futures: ileri tarihte al\u0131m-sat\u0131m i\u00e7in standart s\u00f6zle\u015fme) uzun pozisyon (fiyat y\u00fckseli\u015fine oynayan pozisyon) de\u011ferlendirilebilir.\n\n<h3>Volatilite ve Pozisyonlanma De\u011ferlendirmeleri<\/h3>\nBu tablo, 2024\u2019te yat\u0131r\u0131mc\u0131lar\u0131n politika de\u011fi\u015fimini \u00f6nden fiyatlamaya \u00e7al\u0131\u015ft\u0131\u011f\u0131 (front-run: karar gelmeden \u00f6nce pozisyon almak) ancak BoJ\u2019un zay\u0131f verilerle ad\u0131m\u0131 erteledi\u011fi d\u00f6neme benziyor. Bu nedenle yende ima edilen volatilite (implied volatility: opsiyon fiyatlar\u0131ndan t\u00fcretilen beklenen oynakl\u0131k) d\u00fc\u015febilir; s\u00fcrpriz faiz art\u0131\u015f\u0131 ihtimali azalm\u0131\u015f g\u00f6r\u00fcn\u00fcyor. Dolay\u0131s\u0131yla USD\/JPY\u2019de k\u0131sa vadeli volatilite satmak (volatilite sat\u0131\u015f\u0131: opsiyon satarak prim toplamak) kazan\u00e7 sa\u011flayabilir.\n\n<b><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">VT Markets canl\u0131 hesab\u0131n\u0131z\u0131 a\u00e7\u0131n<\/a>\u00a0ve\u00a0<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">hemen i\u015flem yapmaya ba\u015flay\u0131n<\/a>\u00a0. <\/b>\n<p>\n\n<p><strong>Hemen i\u015flem yapmaya ba\u015flay\u0131n &#8211; Ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in <a href=\"https:\/\/www.vtmarkets.com\/tr\/trade-now\/\">buraya<\/a> t\u0131klay\u0131n <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>S\u00fcrpriz Japon enflasyonu: \u00c7ekirdek T\u00dcFE \u015fubatta %1,6 ile beklenti alt\u0131 kald\u0131. BoJ\u2019un ikinci faiz art\u0131\u015f\u0131 bask\u0131s\u0131 azal\u0131rken yen zay\u0131flayabilir. USD\/JPY 155 call ve Nikkei long \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-31001","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\/tr-mena\/wp-json\/wp\/v2\/posts\/31001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=31001"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/31001\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=31001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=31001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=31001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}