ABD\u2019nin \u015eubat ay\u0131ndaki net uzun vadeli TIC (Hazine\u2019nin izledi\u011fi uluslararas\u0131 sermaye hareketleri) giri\u015fleri toplam 58,6 milyar dolar oldu. Bu rakam, 36,6 milyar dolarl\u0131k beklentinin \u00fczerinde ger\u00e7ekle\u015fti.<\/p>\n
Veriler, ABD\u2019nin takip etti\u011fi uzun vadeli s\u0131n\u0131r \u00f6tesi sermaye ak\u0131mlar\u0131n\u0131 g\u00f6steriyor. A\u00e7\u0131klanan rakam, beklentiye g\u00f6re 22,0 milyar dolar daha y\u00fcksek.<\/p>\n
\u015eubat verileri, yabanc\u0131 yat\u0131r\u0131mc\u0131lar\u0131n ABD varl\u0131klar\u0131na g\u00fcveninin g\u00fc\u00e7l\u00fc oldu\u011funa i\u015faret ediyor. Bu g\u00fc\u00e7l\u00fc giri\u015f, ABD Dolar Endeksi\u2019nin (DXY: dolar\u0131n ba\u015fl\u0131ca para birimleri kar\u015f\u0131s\u0131ndaki performans\u0131n\u0131 g\u00f6steren endeks) neden diren\u00e7li kald\u0131\u011f\u0131n\u0131 a\u00e7\u0131kl\u0131yor; endeks son d\u00f6nemde 105 seviyesinin \u00fczerine \u00e7\u0131kt\u0131. Bu nedenle, \u00f6n\u00fcm\u00fczdeki haftalarda euro ve yen gibi para birimlerine kar\u015f\u0131 dolar\u0131n g\u00fc\u00e7l\u00fc kalmas\u0131na y\u00f6nelik pozisyonlar de\u011ferlendirilebilir.<\/p>\n
Uzun vadeli bor\u00e7lanma ara\u00e7lar\u0131na (uzun vadeli tahvil gibi) bu talebin, \u015fimdilik ABD Hazine tahvili faizlerinde (tahvil getirisi: tahvilin faiz oran\u0131 gibi d\u00fc\u015f\u00fcn\u00fclen piyasa getirisi) yukar\u0131 y\u00f6n\u00fc s\u0131n\u0131rlamas\u0131 beklenir. Mart T\u00dcFE (CPI: t\u00fcketici fiyat endeksi\/enflasyon g\u00f6stergesi) verisinin enflasyonun %2,8\u2019e geriledi\u011fini g\u00f6stermesiyle, faizlerin d\u00fc\u015fece\u011fi y\u00f6n\u00fcndeki beklentiler g\u00fc\u00e7lendi. Tahvil fiyatlar\u0131n\u0131n yatay veya y\u00fckseldi\u011fi senaryoda kazand\u0131ran t\u00fcrev i\u015flemler (t\u00fcrev: de\u011feri ba\u015fka bir varl\u0131\u011fa ba\u011fl\u0131 s\u00f6zle\u015fmeler) dikkat \u00e7ekiyor; \u00f6rne\u011fin uzun vadeli tahvil ETF\u2019leri (borsada i\u015flem g\u00f6ren fon) \u00fczerindeki al\u0131m opsiyonlar\u0131 (call option: belirli fiyattan alma hakk\u0131) \u00f6ne \u00e7\u0131kabilir.<\/p>\n
Hisse senetleri taraf\u0131nda bu sermaye giri\u015fleri, piyasada g\u00fc\u00e7l\u00fc bir destek g\u00f6revi g\u00f6rerek sert d\u00fc\u015f\u00fc\u015fleri yumu\u015fatabilir. S&P 500 \u00fczerinde \u201cout-of-the-money\u201d sat\u0131m opsiyonu sat\u0131\u015f\u0131 (OTM put: mevcut fiyattan daha a\u015fa\u011f\u0131 bir seviyeden satma hakk\u0131 veren opsiyon; satmak prim geliri toplamak demektir) prim (opsiyon primi: opsiyon s\u00f6zle\u015fmesi i\u00e7in al\u0131nan \u00fccret) elde etmek a\u00e7\u0131s\u0131ndan uygulanabilir bir strateji olarak g\u00f6r\u00fcl\u00fcyor. Bu durum, 2025\u2019in d\u00f6rd\u00fcnc\u00fc \u00e7eyre\u011findeki fiyat hareketlerini hat\u0131rlat\u0131yor; benzer giri\u015fler sat\u0131\u015f bask\u0131s\u0131n\u0131 kar\u015f\u0131lam\u0131\u015f ve endeksin dengelenmesine yard\u0131mc\u0131 olmu\u015ftu.<\/p>\n
Yurt d\u0131\u015f\u0131ndan gelen bu d\u00fczenli al\u0131m talebinin, k\u0131sa vadede piyasa oynakl\u0131\u011f\u0131n\u0131 (volatilite: fiyatlar\u0131n dalgalanma d\u00fczeyi) da a\u015fa\u011f\u0131 \u00e7ekmesi muhtemel. VIX (S&P 500 i\u00e7in \u201ckorku endeksi\u201d, beklenen oynakl\u0131\u011f\u0131 g\u00f6sterir) 14 civar\u0131na gerilerken, d\u00fc\u015f\u00fck volatiliteye oynayan i\u015flemlerde (short-vol: oynakl\u0131\u011f\u0131n d\u00fc\u015fmesine\/y\u00fcksek kalmamas\u0131na pozisyon alma) f\u0131rsatlar g\u00f6r\u00fclebilir. B\u00f6yle bir ortam, piyasan\u0131n yatay veya kademeli y\u00fckseldi\u011fi senaryolardan faydalanan stratejileri destekler.<\/p>\n
S\u00fcrpriz sermaye giri\u015fi: ABD\u2019nin \u015eubat net uzun vadeli TIC giri\u015fleri 58,6 milyar dolarla beklentiyi a\u015ft\u0131. Yabanc\u0131 talebi DXY\u2019yi g\u00fc\u00e7l\u00fc tutup tahvil faizlerini s\u0131n\u0131rlayabilir; hisse, VIX\u2019te d\u00fc\u015f\u00fc\u015fe destek.<\/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-44725","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\/44725","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=44725"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/44725\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=44725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=44725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=44725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}