{"id":45939,"date":"2026-05-01T10:59:33","date_gmt":"2026-05-01T10:59:33","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/verilere-gore-isvicrede-reel-perakende-satislar-mart-ayinda-yillik-bazda-05-artti-1lik-beklentilerin-altinda-kaldi\/"},"modified":"2026-05-01T10:59:33","modified_gmt":"2026-05-01T10:59:33","slug":"verilere-gore-isvicrede-reel-perakende-satislar-mart-ayinda-yillik-bazda-05-artti-1lik-beklentilerin-altinda-kaldi","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/verilere-gore-isvicrede-reel-perakende-satislar-mart-ayinda-yillik-bazda-05-artti-1lik-beklentilerin-altinda-kaldi\/","title":{"rendered":"Verilere g\u00f6re \u0130svi\u00e7re\u2019de reel perakende sat\u0131\u015flar mart ay\u0131nda y\u0131ll\u0131k bazda %0,5 artt\u0131; %1\u2019lik beklentilerin alt\u0131nda kald\u0131."},"content":{"rendered":"<p>\u0130svi\u00e7re\u2019de reel perakende sat\u0131\u015flar Mart ay\u0131nda y\u0131ll\u0131k bazda %0,5 artt\u0131.<\/p>\n<p>Bu oran, ay i\u00e7in %1\u2019lik beklentinin alt\u0131nda kald\u0131.<\/p>\n<h3>\u0130svi\u00e7re\u2019de T\u00fcketici Talebi Zay\u0131fl\u0131yor<\/h3>\n<p>Mart ay\u0131ndaki beklentinin alt\u0131ndaki perakende sat\u0131\u015f verisi, \u0130svi\u00e7re\u2019de t\u00fcketicinin harcama i\u015ftah\u0131n\u0131n azald\u0131\u011f\u0131na i\u015faret ediyor. Bu durum, i\u00e7 talepte (\u00fclke i\u00e7indeki t\u00fcketim ve yat\u0131r\u0131m harcamalar\u0131) yava\u015flama e\u011filimini do\u011fruluyor. Nisan enflasyonunun da %1,3 ile zay\u0131f gelmesi ve \u0130svi\u00e7re Merkez Bankas\u0131\u2019n\u0131n (SNB) hedef aral\u0131\u011f\u0131nda kalmas\u0131, ikinci \u00e7eyre\u011fe girerken ekonomide ivme kayb\u0131na dair sinyal veriyor.<\/p>\n<p>Bu tablo, SNB\u2019nin g\u00fcvercin (faiz art\u0131rma yerine faizleri d\u00fc\u015f\u00fck tutmaya veya indirmeye daha yak\u0131n) kalmas\u0131 y\u00f6n\u00fcnde bask\u0131 yaratabilir; 2026\u2019da ek faiz art\u0131\u015f\u0131 olas\u0131l\u0131\u011f\u0131 d\u00fc\u015f\u00fck g\u00f6r\u00fcn\u00fcyor. Bu nedenle \u0130svi\u00e7re Frang\u0131\u2019nda (CHF) zay\u0131flama senaryosu, \u00f6zellikle Euro (EUR) kar\u015f\u0131s\u0131nda \u00f6ne \u00e7\u0131k\u0131yor. \u00c7\u00fcnk\u00fc Avrupa Merkez Bankas\u0131 (ECB) faiz indirimi konusunda daha temkinli g\u00f6r\u00fcn\u00fcyor. EUR\/CHF paritesinde al\u0131m opsiyonu (call option: belirli bir tarihe kadar belirli bir fiyattan alma hakk\u0131) almak, \u00f6n\u00fcm\u00fczdeki haftalarda bu olas\u0131 politika ayr\u0131\u015fmas\u0131n\u0131 de\u011ferlendirmek i\u00e7in daha temkinli bir yakla\u015f\u0131m olabilir.<\/p>\n<p>Hisse taraf\u0131nda ise t\u00fcketicideki zay\u0131fl\u0131k, Swiss Market Index (SMI: \u0130svi\u00e7re\u2019nin \u00f6nde gelen \u015firketlerini i\u00e7eren borsa endeksi) i\u00e7inde i\u00e7 pazara daha ba\u011f\u0131ml\u0131 hisseler i\u00e7in olumsuz bir etken. Benzer bir g\u00f6r\u00fcn\u00fcm 2025\u2019te de g\u00f6r\u00fclm\u00fc\u015f, zay\u0131f i\u00e7 veriler perakende ve l\u00fcks t\u00fcketim sekt\u00f6rlerinde g\u00f6reli zay\u0131f performansa yol a\u00e7m\u0131\u015ft\u0131.<\/p>\n<h3>Hisse Senedi Korunma (Hedge) Se\u00e7enekleri<\/h3>\n<p>Bu nedenle SMI sat\u0131m opsiyonu (put option: belirli bir tarihe kadar belirli bir fiyattan satma hakk\u0131) almak veya put spread (iki farkl\u0131 kullan\u0131m fiyatl\u0131 sat\u0131m opsiyonu ile maliyeti azaltarak a\u015fa\u011f\u0131 y\u00f6nl\u00fc riske kar\u015f\u0131 korunma stratejisi) kurmak, endekste olas\u0131 geri \u00e7ekilmeye kar\u015f\u0131 etkili bir korunma olabilir.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u0130svi\u00e7re\u2019de reel perakende sat\u0131\u015flar martta %0,5 artt\u0131; %1 beklentinin alt\u0131nda. Zay\u0131f talep ve d\u00fc\u015f\u00fck enflasyon SNB\u2019yi g\u00fcvercin tutabilir; CHF zay\u0131flayabilir. EUR\/CHF call ve SMI put\/put spread g\u00fcndemde.<\/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-45939","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\/45939","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=45939"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/45939\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=45939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=45939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=45939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}