{"id":43793,"date":"2026-04-02T03:55:53","date_gmt":"2026-04-02T03:55:53","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/bnyden-geoff-yu-latin-amerika-en-direncli-bolge-gibi-gorunuyor-para-birimleri-asiri-uzun-pozisyonlu-riskten-kacis-ortaminda-hisse-senetlerine-giris-var\/"},"modified":"2026-04-02T03:55:53","modified_gmt":"2026-04-02T03:55:53","slug":"bnyden-geoff-yu-latin-amerika-en-direncli-bolge-gibi-gorunuyor-para-birimleri-asiri-uzun-pozisyonlu-riskten-kacis-ortaminda-hisse-senetlerine-giris-var","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/bnyden-geoff-yu-latin-amerika-en-direncli-bolge-gibi-gorunuyor-para-birimleri-asiri-uzun-pozisyonlu-riskten-kacis-ortaminda-hisse-senetlerine-giris-var\/","title":{"rendered":"BNY\u2019den Geoff Yu: Latin Amerika en diren\u00e7li b\u00f6lge gibi g\u00f6r\u00fcn\u00fcyor; para birimleri a\u015f\u0131r\u0131 uzun pozisyonlu, riskten ka\u00e7\u0131\u015f ortam\u0131nda hisse senetlerine giri\u015f var"},"content":{"rendered":"BNY verilerine g\u00f6re Latin Amerika, farkl\u0131 varl\u0131k t\u00fcrlerinde (d\u00f6viz, hisse gibi yat\u0131r\u0131m ara\u00e7lar\u0131) dayan\u0131kl\u0131 g\u00f6r\u00fcn\u00fcyor. B\u00f6lge para birimleri \u201ca\u015f\u0131r\u0131 ta\u015f\u0131nm\u0131\u015f\u201d (yat\u0131r\u0131mc\u0131lar\u0131n elinde gere\u011finden fazla birikmi\u015f) olarak tan\u0131mlan\u0131yor. B\u00f6lge hisselerinin ise genel riskten ka\u00e7\u0131\u015f (yat\u0131r\u0131mc\u0131lar\u0131n riskli varl\u0131klardan \u00e7\u0131k\u0131p daha g\u00fcvenli ara\u00e7lara y\u00f6nelmesi) ortam\u0131na ra\u011fmen net giri\u015f (piyasaya giren para \u00e7\u0131kan paradan fazla) \u00e7ekti\u011fi bildiriliyor.\n\nVeriler ayr\u0131ca Latin Amerika\u2019n\u0131n hisse taraf\u0131nda en iyi performans g\u00f6steren b\u00f6lge oldu\u011funu s\u00f6yl\u00fcyor. \u201cA\u015f\u0131r\u0131 ta\u015f\u0131nm\u0131\u015f\u201d bir ba\u015flang\u0131\u00e7 noktas\u0131na ra\u011fmen net giri\u015f kaydeden tek b\u00f6lge toplam\u0131 oldu\u011fu belirtiliyor.\n\n<h3>Brezilya ve Peru Ayr\u0131\u015f\u0131yor<\/h3>\nB\u00f6lge i\u00e7inde Brezilya ve Peru\u2019nun farkl\u0131 bir seyir izledi\u011fi aktar\u0131l\u0131yor. Brezilya daha \u00e7e\u015fitlendirilmi\u015f (gelir kayna\u011f\u0131 ve sekt\u00f6r da\u011f\u0131l\u0131m\u0131 daha geni\u015f) g\u00f6r\u00fcl\u00fcyor; g\u0131da ve enerji ihracat\u0131yla destekleniyor. Ayr\u0131ca geli\u015fen piyasalarda en y\u00fcksek nominal faiz (enflasyondan ar\u0131nd\u0131r\u0131lmam\u0131\u015f, a\u00e7\u0131klanan faiz oran\u0131) seviyelerinden birine sahip oldu\u011fu belirtiliyor.\n\nPeru ise daha yo\u011funla\u015fm\u0131\u015f (az say\u0131da \u00fcr\u00fcne\/sekt\u00f6re ba\u011fl\u0131) olarak tan\u0131mlan\u0131yor; para birimi ve hisse piyasas\u0131n\u0131n g\u00fcm\u00fc\u015f fiyatlar\u0131na yak\u0131ndan ba\u011fl\u0131 oldu\u011fu ifade ediliyor. Her iki piyasada da y\u0131l boyunca al\u0131m oldu\u011fu s\u00f6yleniyor; ancak y\u0131lba\u015f\u0131ndan bug\u00fcne para ak\u0131\u015f\u0131 (fonlar\u0131n giri\u015f-\u00e7\u0131k\u0131\u015f y\u00f6n\u00fc) e\u011filimlerinin neredeyse tamamen z\u0131t oldu\u011fu belirtiliyor.\n\nRaporda Peru, \u201crisk alma\u201d (risk-on) temas\u0131 ve oynak reel varl\u0131klarla (emtia gibi fiziksel varl\u0131klara ba\u011fl\u0131 yat\u0131r\u0131m ara\u00e7lar\u0131) daha fazla ili\u015fkilendiriliyor. Ayr\u0131ca daha g\u00fc\u00e7l\u00fc risk i\u015ftah\u0131yla birlikte, \u00e7at\u0131\u015fma ba\u015flad\u0131\u011f\u0131ndan beri ilk kez Peru hisselerinin Brezilya\u2019y\u0131 geride b\u0131rakt\u0131\u011f\u0131 not ediliyor.\n\n<h3>\u0130leriye D\u00f6n\u00fck \u0130\u015flem Etkileri<\/h3>\nBrezilya\u2019n\u0131n cazibesi, \u00e7e\u015fitlendirilmi\u015f yap\u0131s\u0131 ve y\u00fcksek faizinden geliyor; bu da b\u00f6lgede \u201cg\u00fcvenli liman\u201d hissi veriyor. Merkez bankas\u0131n\u0131n ge\u00e7en hafta Selic faizini %9,75\u2019te sabit tutmas\u0131, para birimi i\u00e7in g\u00fc\u00e7l\u00fc bir koruma (\u015foklara kar\u015f\u0131 tampon) sa\u011fl\u0131yor ve carry i\u015flemi yapan yat\u0131r\u0131mc\u0131lar\u0131 \u00e7ekiyor. Carry i\u015flemi, d\u00fc\u015f\u00fck faizli para biriminden bor\u00e7lan\u0131p y\u00fcksek faizli para biriminde getiri elde etmeyi hedefleyen stratejidir. Bu nedenle k\u00fcresel belirsizlikte daha istikrarl\u0131, faiz getirisine dayal\u0131 pozisyon arayanlar i\u00e7in Bovespa endeksi veya EWZ ETF \u00fczerindeki opsiyonlar (belirli bir tarihe kadar, belirli fiyattan al\u0131m\/sat\u0131m hakk\u0131 veren s\u00f6zle\u015fmeler) \u00f6ne \u00e7\u0131k\u0131yor.\n\nPeru ise b\u00fcy\u00fck \u00f6l\u00e7\u00fcde g\u00fcm\u00fc\u015fe ve risk almaya dayal\u0131 bir tercih olarak g\u00f6r\u00fcl\u00fcyor. G\u00fcm\u00fc\u015f fiyatlar\u0131n\u0131n son bir ayda %8\u2019den fazla y\u00fckselerek ons ba\u015f\u0131na 32 dolar\u0131n \u00fczerine \u00e7\u0131kt\u0131\u011f\u0131; bunun da EPU ETF\u2019yi mart ba\u015f\u0131ndan bu yana %12 y\u00fckseltti\u011fi belirtiliyor. Sanayi metalleri (\u00fcretimde yo\u011fun kullan\u0131lan metaller) ve k\u00fcresel b\u00fcy\u00fcme konusunda iyimser olan yat\u0131r\u0131mc\u0131lar\u0131n, bu ivmeden yararlanmak i\u00e7in Peru hisselerinde al\u0131m opsiyonlar\u0131n\u0131 (call, y\u00fckseli\u015ften kazan\u00e7 hedefleyen opsiyon) de\u011ferlendirebilece\u011fi ifade ediliyor.\n\n2025 boyunca piyasa toparlanmas\u0131na bak\u0131ld\u0131\u011f\u0131nda bu ayr\u0131\u015fman\u0131n olu\u015fmaya ba\u015flad\u0131\u011f\u0131 g\u00f6r\u00fcl\u00fcyor. Brezilya\u2019n\u0131n daha dengeli performans\u0131 bir zemin sa\u011flarken, yat\u0131r\u0131mc\u0131 g\u00fcveni artt\u0131k\u00e7a Peru varl\u0131klar\u0131 daha iyi performans g\u00f6stermeye ba\u015flad\u0131. Bu de\u011fi\u015fim, piyasalar\u0131n \u015fimdilik k\u00fcresel dalgalanmalardan g\u00f6rece uzak b\u00f6lgelerde yo\u011funla\u015fm\u0131\u015f ve y\u00fcksek beta (piyasa hareketlerine daha g\u00fc\u00e7l\u00fc tepki veren) varl\u0131klar\u0131 tercih etti\u011fine i\u015faret ediyor.\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>BNY\u2019ye g\u00f6re Latin Amerika riskten ka\u00e7\u0131\u015fa ra\u011fmen g\u00fc\u00e7l\u00fc: para birimleri a\u015f\u0131r\u0131 ta\u015f\u0131nm\u0131\u015f olsa da hisselere net giri\u015f var. Brezilya y\u00fcksek faizle g\u00fcvenli liman, Peru g\u00fcm\u00fc\u015f ve risk-on\u2019la \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-43793","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\/43793","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=43793"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/43793\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=43793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=43793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=43793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}