{"id":43483,"date":"2026-03-27T09:04:21","date_gmt":"2026-03-27T09:04:21","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/birlesik-krallikta-yakit-haric-perakende-satislar-aylik-bazda-04-geriledi-08lik-dusus-beklentisinden-daha-iyi-geldi\/"},"modified":"2026-03-27T09:04:21","modified_gmt":"2026-03-27T09:04:21","slug":"birlesik-krallikta-yakit-haric-perakende-satislar-aylik-bazda-04-geriledi-08lik-dusus-beklentisinden-daha-iyi-geldi","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/birlesik-krallikta-yakit-haric-perakende-satislar-aylik-bazda-04-geriledi-08lik-dusus-beklentisinden-daha-iyi-geldi\/","title":{"rendered":"Birle\u015fik Krall\u0131k\u2019ta yak\u0131t hari\u00e7 perakende sat\u0131\u015flar ayl\u0131k bazda %0,4 geriledi; %0,8\u2019lik d\u00fc\u015f\u00fc\u015f beklentisinden daha iyi geldi"},"content":{"rendered":"Birle\u015fik Krall\u0131k\u2019ta yak\u0131t hari\u00e7 perakende sat\u0131\u015flar \u015fubatta ayl\u0131k bazda (aydan aya) %0,4 geriledi. Bu, beklenen %0,8\u2019lik d\u00fc\u015f\u00fc\u015ften daha iyi bir sonu\u00e7.\n\nSonu\u00e7, sat\u0131\u015f hacimlerindeki d\u00fc\u015f\u00fc\u015f\u00fcn tahmin edilenden daha s\u0131n\u0131rl\u0131 oldu\u011funa i\u015faret ediyor. Veri, \u015fubat ay\u0131na ili\u015fkin ger\u00e7ekle\u015fen ayl\u0131k de\u011fi\u015fimi piyasa beklentileriyle k\u0131yasl\u0131yor.\n\n<h3>\u0130ngiltere\u2019de T\u00fcketicinin Dayan\u0131kl\u0131l\u0131\u011f\u0131<\/h3>\nSon perakende sat\u0131\u015f verileri d\u00fc\u015f\u00fc\u015fe i\u015faret etse de, piyasan\u0131n bekledi\u011finden \u00e7ok daha s\u0131n\u0131rl\u0131 bir gerileme g\u00f6r\u00fcld\u00fc. Bu, \u0130ngiliz t\u00fcketicinin bask\u0131 alt\u0131nda h\u0131zla zay\u0131flamad\u0131\u011f\u0131n\u0131 ve beklenmedik bir dayan\u0131kl\u0131l\u0131k g\u00f6sterdi\u011fini d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor. Bu, ikinci \u00e7eyre\u011fe girerken \u00f6nemli bir g\u00f6sterge.\n\nBu tablo, \u0130ngiltere Merkez Bankas\u0131\u2019n\u0131n (Bank of England) may\u0131sta h\u0131zl\u0131 bir faiz indirimi yapmas\u0131n\u0131 gerek\u00e7elendirmesini zorla\u015ft\u0131r\u0131yor. \u015eubat T\u00dcFE (CPI: t\u00fcketici fiyat endeksi) verileri \u00e7ekirdek enflasyonun (enerji ve g\u0131da gibi oynak kalemler hari\u00e7 enflasyon, fiyat bask\u0131s\u0131n\u0131n daha kal\u0131c\u0131 k\u0131sm\u0131n\u0131 g\u00f6sterir) %3,1 civar\u0131nda inat\u00e7\u0131 \u015fekilde kald\u0131\u011f\u0131n\u0131 g\u00f6sterdi. Banka, yava\u015flamaya dair daha fazla kan\u0131t g\u00f6rmek isteyebilir. Bu nedenle piyasan\u0131n, faizlerin yaz boyunca sabit kalma olas\u0131l\u0131\u011f\u0131n\u0131 yeterince fiyatlamad\u0131\u011f\u0131 g\u00f6r\u00fc\u015f\u00fcndeyiz.\n\nD\u00f6viz pozisyonlar\u0131m\u0131z a\u00e7\u0131s\u0131ndan bu, sterlinin (GBP) dolar kar\u015f\u0131s\u0131nda destek buldu\u011fu g\u00f6r\u00fc\u015f\u00fcn\u00fc g\u00fc\u00e7lendiriyor. GBP\/USD paritesinde (sterlin\/dolar kur \u00e7ifti) k\u0131sa vadeli al\u0131m opsiyonu (call option: belirli bir vadede, belirli fiyattan alma hakk\u0131 veren; zorunluluk i\u00e7ermeyen s\u00f6zle\u015fme) al\u0131m\u0131n\u0131 de\u011ferlendiriyoruz; hedef 1,2850 seviyesi. Bu yakla\u015f\u0131m, g\u00f6r\u00fcn\u00fcm yeniden bozulursa riski \u00f6nceden belirlenmi\u015f tutar ile s\u0131n\u0131rlar.\n\n\u0130\u00e7 pazara duyarl\u0131 Birle\u015fik Krall\u0131k hisseleri, \u00f6zellikle perakende ve e\u011flence\/serbest zaman sekt\u00f6rleri, bu geli\u015fmeden olumlu etkilenebilir. GfK t\u00fcketici g\u00fcven endeksi (hanehalk\u0131 beklentilerini \u00f6l\u00e7en anket bazl\u0131 g\u00f6sterge) son d\u00f6nemde -17\u2019ye y\u00fckseldi; 2025\u2019in b\u00fcy\u00fck b\u00f6l\u00fcm\u00fcnde g\u00f6r\u00fclen -30 diplerine g\u00f6re belirgin bir iyile\u015fme. Olas\u0131 g\u00f6rece g\u00fc\u00e7l\u00fc performans\u0131 de\u011ferlendirmek i\u00e7in FTSE 250 endeksi \u00fczerinde al\u0131m opsiyonlar\u0131n\u0131 (call option) izliyoruz.\n\n<h3>Faiz Piyasas\u0131nda Yeniden Fiyatlama<\/h3>\nFaiz piyasalar\u0131n\u0131n (faiz beklentilerinin fiyatland\u0131\u011f\u0131 piyasa) yeniden ayarlama yapmas\u0131 gerekebilir; \u00e7\u00fcnk\u00fc faiz indirim patikas\u0131 art\u0131k daha s\u0131n\u0131rl\u0131 g\u00f6r\u00fcn\u00fcyor. 2025\u2019te g\u00f6rd\u00fc\u011f\u00fcm\u00fcz agresif faiz art\u0131r\u0131m\u0131 d\u00f6ng\u00fcs\u00fcn\u00fcn ard\u0131ndan bir\u00e7ok yat\u0131r\u0131mc\u0131 bu y\u0131l h\u0131zl\u0131 bir dizi indirim bekleyecek \u015fekilde pozisyon alm\u0131\u015ft\u0131. SONIA vadeli i\u015flemlerindeki (SONIA futures: \u0130ngiltere gecelik faizine dayal\u0131 vadeli s\u00f6zle\u015fmeler; BoE politikas\u0131 beklentisini fiyatlar) pozisyonlar\u0131, \u201cdaha uzun s\u00fcre y\u00fcksek faiz\u201d ortam\u0131n\u0131 yans\u0131tacak bi\u00e7imde g\u00fcncellemeyi de\u011ferlendirmeliyiz.\n\nBu s\u00fcrpriz, Birle\u015fik Krall\u0131k varl\u0131klar\u0131nda k\u0131sa vadeli oynakl\u0131\u011f\u0131 (volatilite: fiyatlar\u0131n dalgalanma d\u00fczeyi) da azaltabilir; bu da opsiyon al\u0131m\u0131n\u0131 daha ucuz hale getirebilir. Riskten korunma stratejilerimizi (hedging: olumsuz fiyat hareketlerine kar\u015f\u0131 koruma ama\u00e7l\u0131 i\u015flemler) g\u00f6zden ge\u00e7irmek i\u00e7in uygun bir d\u00f6nem; t\u00fcketici ekonomisine y\u00f6nelik yak\u0131n vadeli a\u015fa\u011f\u0131 y\u00f6nl\u00fc risk bir miktar hafiflemi\u015f g\u00f6r\u00fcn\u00fcyor. G\u00f6rece sakin bu aral\u0131k, bir sonraki enflasyon verileri \u00f6ncesinde pozisyon almak i\u00e7in kullan\u0131labilir.\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 veri: \u0130ngiltere\u2019de yak\u0131t hari\u00e7 perakende sat\u0131\u015flar \u015fubatta %0,4 d\u00fc\u015ft\u00fc; beklentiden iyi. T\u00fcketici diren\u00e7li, BoE\u2019nin may\u0131sta h\u0131zl\u0131 faiz indirimi zorla\u015f\u0131yor. Sterlin, FTSE 250 ve opsiyonlar \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-43483","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\/43483","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=43483"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/43483\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=43483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=43483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=43483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}