ABD\u2019nin toplam net Hazine Uluslararas\u0131 Sermaye (TIC \u2014 ABD\u2019ye giren ve ABD\u2019den \u00e7\u0131kan sermaye hareketlerini izleyen resmi veri) ak\u0131mlar\u0131 \u015fubatta 184,5 milyar dolara \u00e7\u0131kt\u0131. \u00d6nceki veri -25 milyar dolard\u0131.<\/p>\n
Bu veriler, iki d\u00f6nem aras\u0131nda net sermaye \u00e7\u0131k\u0131\u015f\u0131ndan net sermaye giri\u015fine ge\u00e7i\u015fe i\u015faret ediyor. De\u011fi\u015fim, 209,5 milyar dolarl\u0131k art\u0131\u015fa denk geliyor.<\/p>\n
\u015eubat verisi, yabanc\u0131lar\u0131n ABD\u2019ye yapt\u0131\u011f\u0131 yat\u0131r\u0131mlarda 184,5 milyar dolarl\u0131k \u00e7ok g\u00fc\u00e7l\u00fc bir art\u0131\u015f oldu\u011funu ve bir \u00f6nceki aydaki 25 milyar dolarl\u0131k \u00e7\u0131k\u0131\u015f\u0131n tersine d\u00f6nd\u00fc\u011f\u00fcn\u00fc g\u00f6steriyor. Bu, ABD varl\u0131klar\u0131na (hisse, tahvil ve benzeri) talebin g\u00fc\u00e7lendi\u011fine i\u015faret eder; bu t\u00fcr talep genelde dolar\u0131 destekler. Ancak \u201ckesin dolar y\u00fckselir\u201d demek yerine, bunun dolar i\u00e7in olumlu bir sinyal oldu\u011fu s\u00f6ylenebilir. \u201cCall opsiyonu\u201d (fiyat y\u00fckselirse kazand\u0131ran al\u0131m hakk\u0131 s\u00f6zle\u015fmesi) gibi \u00fcr\u00fcnler y\u00fcksek risk i\u00e7erdi\u011finden, yaln\u0131zca risk y\u00f6netimiyle de\u011ferlendirilmelidir.<\/p>\n
Bu sermaye giri\u015finin d\u00f6viz piyasas\u0131na yans\u0131d\u0131\u011f\u0131 g\u00f6r\u00fcl\u00fcyor: ABD Dolar Endeksi (DXY \u2014 dolar\u0131n ba\u015fl\u0131ca para birimlerine kar\u015f\u0131 de\u011ferini \u00f6l\u00e7en endeks) son ay yakla\u015f\u0131k 104\u2019ten 106,5\u2019e y\u00fckseldi. Avrupa\u2019da ekonomik belirsizlik artarken, PMI verileri (Sat\u0131nalma Y\u00f6neticileri Endeksi \u2014 \u015firketlerin \u00fcretim ve sipari\u015f e\u011filimini g\u00f6steren \u00f6nc\u00fc g\u00f6sterge) imalatta yava\u015flamaya i\u015faret ediyor. Bu da euroya kar\u015f\u0131 dolar\u0131n g\u00fc\u00e7l\u00fc kalabilece\u011fi beklentisini destekleyebilir. Vadeli i\u015flem (futures \u2014 gelecekte belirli fiyattan al\u0131m-sat\u0131m anla\u015fmas\u0131) ve opsiyon s\u00f6zle\u015fmeleri kald\u0131ra\u00e7 i\u00e7erdi\u011fi i\u00e7in risk seviyesi y\u00fcksektir.<\/p>\n
Yabanc\u0131lar\u0131n ABD devlet tahvillerine g\u00fc\u00e7l\u00fc al\u0131m\u0131, genelde tahvil fiyatlar\u0131n\u0131 yukar\u0131 iter ve getirileri (yield \u2014 tahvilin faiz\/geri d\u00f6n\u00fc\u015f oran\u0131) a\u015fa\u011f\u0131 \u00e7eker. 10 y\u0131ll\u0131k ABD tahvil faizi nisan ba\u015f\u0131nda %4,1\u2019e gerilemi\u015fti; talebin s\u00fcrmesi halinde %4,0\u2019\u0131n alt\u0131 da g\u00fcndeme gelebilir. TLT gibi tahvil ETF\u2019leri (borsada i\u015flem g\u00f6ren fon) \u00fczerinden pozisyon almak isteyenler, opsiyon gibi ara\u00e7lar\u0131n riskini dikkate almal\u0131d\u0131r.<\/p>\n
Bu tablo, piyasadaki dalgalanman\u0131n da azalmas\u0131na katk\u0131 verebilir; \u00e7\u00fcnk\u00fc d\u00fczenli yabanc\u0131 para giri\u015fi ABD varl\u0131klar\u0131na destek olu\u015fturur. VIX (beklenen piyasa oynakl\u0131\u011f\u0131n\u0131 \u00f6l\u00e7en endeks) bu y\u0131l ilk kez 14\u2019\u00fcn alt\u0131na indi. VIX \u00fczerinde opsiyon sat\u0131\u015f\u0131 veya \u201ckredi spread\u201d (opsiyonlarda prim toplayan, risk-\u00f6d\u00fcl\u00fc s\u0131n\u0131rl\u0131 strateji) gibi y\u00f6ntemler karma\u015f\u0131k ve riskli oldu\u011fundan, tecr\u00fcbeli yat\u0131r\u0131mc\u0131lar i\u00e7in uygundur.<\/p>\n
Bu g\u00f6r\u00fcn\u00fcm, 2025\u2019in \u00fc\u00e7\u00fcnc\u00fc \u00e7eyre\u011finde g\u00f6r\u00fclen dinami\u011fi and\u0131r\u0131yor: K\u00fcresel tedirginlik d\u00f6neminde ABD varl\u0131klar\u0131na y\u00f6neli\u015f, daha sonra hisselerde g\u00fc\u00e7l\u00fc bir y\u00fckseli\u015fin \u00f6n\u00fcn\u00fc a\u00e7m\u0131\u015ft\u0131. Mart T\u00dcFE (CPI \u2014 t\u00fcketici fiyat endeksi, enflasyonun ana g\u00f6stergesi) raporunda enflasyonun yava\u015flamay\u0131 s\u00fcrd\u00fcrmesi de, ABD hisse endekslerinde yukar\u0131 y\u00f6nl\u00fc beklentiyi destekleyen bir unsur olarak \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"excerpt":{"rendered":"
S\u00fcrpriz d\u00f6n\u00fc\u015f: ABD\u2019nin TIC net sermaye ak\u0131m\u0131 \u015fubatta 184,5 milyar dolara s\u0131\u00e7rayarak -25 milyardan toparland\u0131. Bu, dolar ve ABD varl\u0131klar\u0131na talebi desteklerken 10 y\u0131ll\u0131k faiz, VIX ve risk i\u015ftah\u0131n\u0131 etkileyebilir.<\/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-44724","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\/44724","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=44724"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/44724\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=44724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=44724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=44724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}