Uzun vadeli Japonya devlet tahvili (JGB: Japon h\u00fck\u00fcmeti taraf\u0131ndan \u00e7\u0131kar\u0131lan devlet tahvili) getirileri y\u00fckseldi. 30 y\u0131ll\u0131k JGB getirisi 20 Ocak\u2019taki zirvesinin \u00fczerine \u00e7\u0131karak %3,93\u2019e ula\u015ft\u0131. Bu hareket piyasada yak\u0131ndan izlendi ve Japonya Merkez Bankas\u0131\u2019n\u0131n (BoJ) k\u0131sa vadede politika faizini art\u0131rabilece\u011fi beklentilerini g\u00fc\u00e7lendirdi.<\/p>\n
Getirilerdeki y\u00fckseli\u015f, Orta Do\u011fu\u2019daki \u00e7at\u0131\u015fman\u0131n enflasyon (fiyat art\u0131\u015f\u0131) risklerini art\u0131rmas\u0131yla ba\u011flant\u0131l\u0131 tahvil sat\u0131\u015flar\u0131n\u0131n ard\u0131ndan geldi. Sat\u0131\u015flara ayr\u0131ca BoJ Y\u00f6netim Kurulu \u00fcyesi Kazuyuki Masu\u2019nun \u201c\u015fahin\u201d (faiz art\u0131\u015f\u0131 yanl\u0131s\u0131) a\u00e7\u0131klamalar\u0131 destek verdi.<\/p>\n
Masu, \u201ce\u011fer istatistiksel veriler ekonomide belirgin bir yava\u015flamaya i\u015faret etmiyorsa, politika faizinin m\u00fcmk\u00fcn olan en erken a\u015famada art\u0131r\u0131lmas\u0131n\u0131n arzu edilir oldu\u011funu d\u00fc\u015f\u00fcn\u00fcyorum\u201d dedi. Bu s\u00f6zler, bir sonraki BoJ faiz art\u0131\u015f\u0131n\u0131n Haziran\u2019daki politika toplant\u0131s\u0131nda gelebilece\u011fi beklentisini art\u0131rd\u0131.<\/p>\n
Haziran\u2019da olas\u0131 bir faiz art\u0131\u015f\u0131, daha g\u00fc\u00e7l\u00fc bir Japon yeni ve d\u00f6viz piyasas\u0131na m\u00fcdahale (kur hareketini s\u0131n\u0131rlamak i\u00e7in resmi al\u0131m-sat\u0131m) ihtiyac\u0131 \u00fczerinde daha az bask\u0131 ile ili\u015fkilendirildi. Haberde, metnin bir yapay zek\u00e2 arac\u0131yla haz\u0131rland\u0131\u011f\u0131 ve bir edit\u00f6r taraf\u0131ndan incelendi\u011fi belirtildi.<\/p>\n
\u00d6n\u00fcm\u00fczdeki haftalarda t\u00fcrev \u00fcr\u00fcn (dayanak varl\u0131\u011fa ba\u011fl\u0131 s\u00f6zle\u015fmeler, \u00f6rn. opsiyon\/forward) i\u015flemi yapan yat\u0131r\u0131mc\u0131lar, yenin g\u00fc\u00e7lenmesinden fayda sa\u011flayan stratejileri de\u011ferlendirebilir. JPY al\u0131m opsiyonu (call: belirli bir fiyattan alma hakk\u0131) almak veya USD\/JPY\u2019de ay\u0131 put spread\u2019i (bear put spread: d\u00fc\u015f\u00fc\u015f beklentisiyle iki farkl\u0131 kullan\u0131m fiyatl\u0131 sat\u0131m opsiyonu kombinasyonu) kurmak, s\u0131n\u0131rl\u0131 riskle (zarar\u0131n prim\/\u00f6denen bedelle s\u0131n\u0131rlanmas\u0131) paritede a\u015fa\u011f\u0131 y\u00f6nl\u00fc harekete pozisyon almay\u0131 sa\u011flar. USD\/JPY\u2019de ima edilen oynakl\u0131k (implied volatility: opsiyon fiyatlar\u0131na yans\u0131yan beklenen dalgalanma) yakla\u015f\u0131k %9,8 seviyesinde; bu da opsiyonlar\u0131 olas\u0131 politika s\u00fcrprizlerine kar\u015f\u0131 kullan\u0131\u015fl\u0131 k\u0131l\u0131yor.<\/p>\n
ABD ile Japonya aras\u0131ndaki faiz fark\u0131n\u0131n daralmas\u0131 da bu g\u00f6r\u00fc\u015f\u00fc destekliyor. ABD Merkez Bankas\u0131 (Fed) politika faizini %4,5\u2019te sabit tutarken, BoJ\u2019nin kademeli s\u0131k\u0131la\u015fmas\u0131 (faiz art\u0131r\u0131m\u0131 ve\/veya likiditeyi azaltma) daha \u00f6nce dolar\u0131 destekleyen fark\u0131 azalt\u0131yor. Bu temel de\u011fi\u015fim, yen uzun pozisyonunu (yenin de\u011fer kazanaca\u011f\u0131 beklentisiyle pozisyon) daha mant\u0131kl\u0131 hale getiriyor.<\/p>\n","protected":false},"excerpt":{"rendered":"
Japon 30 y\u0131ll\u0131k JGB getirisi %3,93\u2019e \u00e7\u0131karak alarm verdi: Orta Do\u011fu kaynakl\u0131 enflasyon kayg\u0131s\u0131 ve BoJ \u00fcyesi Masu\u2019nun \u015fahin mesaj\u0131, Haziran\u2019da faiz art\u0131\u015f\u0131 ve daha g\u00fc\u00e7l\u00fc yen senaryosunu fiyatlat\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-46668","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\/46668","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=46668"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46668\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}