Japonya\u2019n\u0131n \u00dcretici Fiyat Endeksi (\u00dcFE, \u00fcreticilerin sat\u0131\u015f fiyatlar\u0131n\u0131 \u00f6l\u00e7en g\u00f6sterge) nisan ay\u0131nda ayl\u0131k bazda %2,3 artt\u0131. Bu art\u0131\u015f, beklenen %0,7\u2019nin \u00fczerinde ger\u00e7ekle\u015fti.<\/p>\n
Bu sonu\u00e7, \u00fcretici fiyatlar\u0131n\u0131n ay i\u00e7inde tahmin edilenden daha h\u0131zl\u0131 y\u00fckseldi\u011fini g\u00f6steriyor. Veri, nisan ay\u0131ndaki fiyat seviyelerini mart ay\u0131 ile kar\u015f\u0131la\u015ft\u0131r\u0131yor.<\/p>\n
\u00dcretici fiyatlar\u0131ndaki s\u00fcrpriz %2,3\u2019l\u00fck s\u0131\u00e7rama, g\u00fc\u00e7l\u00fc bir enflasyon (genel fiyat art\u0131\u015f\u0131) sinyali. Bu durum, Japonya Merkez Bankas\u0131 (BoJ) \u00fczerinde para politikas\u0131n\u0131 (faiz ve likidite kararlar\u0131) beklenenden daha erken g\u00f6zden ge\u00e7irmesi i\u00e7in bask\u0131 yarat\u0131yor. \u00d6n\u00fcm\u00fczdeki haftalarda daha \u201c\u015fahin\u201d (enflasyonla m\u00fccadele i\u00e7in faiz art\u0131rmaya daha yatk\u0131n) bir merkez bankas\u0131 ihtimaline haz\u0131rl\u0131kl\u0131 olmak gerekir.<\/p>\n
Veri, uzun s\u00fcredir zay\u0131f olan Japon Yeni (JPY) i\u00e7in g\u00fc\u00e7lenme olas\u0131l\u0131\u011f\u0131n\u0131 art\u0131r\u0131yor. \u0130thalat maliyetleri (yurt d\u0131\u015f\u0131ndan al\u0131nan \u00fcr\u00fcnlerin yen cinsinden maliyeti) y\u00fckselirken, enflasyonla m\u00fccadele i\u00e7in daha g\u00fc\u00e7l\u00fc bir kur (daha de\u011ferli yen) merkez bankas\u0131 a\u00e7\u0131s\u0131ndan daha cazip hale gelebilir. USD\/JPY kurunun (dolar\/yen) d\u00fc\u015fmesinden fayda sa\u011flayan t\u00fcrev (dayanak varl\u0131\u011fa ba\u011fl\u0131 i\u015flem g\u00f6ren finansal ara\u00e7lar; \u00f6rn. opsiyon, vadeli i\u015flem) stratejileri g\u00fcndemde tutulabilir.<\/p>\n
Bu \u00dcFE \u015foku, mart ay\u0131 \u00e7ekirdek T\u00dcFE\u2019nin (enerji ve g\u0131da gibi oynak kalemler hari\u00e7 t\u00fcketici enflasyonu) zaten %2,8 oldu\u011fu bir d\u00f6neme denk geliyor; bu seviye Banka\u2019n\u0131n %2 hedefinin \u00fczerinde. USD\/JPY 165\u2019in \u00fczerinde i\u015flem g\u00f6r\u00fcrken, bu toptan fiyat art\u0131\u015flar\u0131n\u0131n (\u00fcretici\/halka sat\u0131\u015f fiyatlar\u0131) k\u0131sa s\u00fcrede t\u00fcketici fiyatlar\u0131na yans\u0131mas\u0131 olas\u0131. Piyasa, \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrek kadar erken bir d\u00f6nemde faiz art\u0131\u015f\u0131 (politika faizi y\u00fckseli\u015fi) ihtimalini fiyatlamaya ba\u015flayabilir.<\/p>\n
Buna ba\u011fl\u0131 olarak, Japon devlet tahvili (JGB, Japon Hazine tahvilleri) getirilerinde (tahvil faizi) yukar\u0131 y\u00f6nl\u00fc bask\u0131 beklenebilir. 10 y\u0131ll\u0131k JGB getirisi h\u00e2len %1,1 civar\u0131nda seyrederken, yat\u0131r\u0131mc\u0131lar\u0131n daha y\u00fcksek politika faizi beklentisiyle tahvil satmas\u0131 (tahvil fiyat\u0131 d\u00fc\u015ferken getiri y\u00fckselir) h\u00e2linde son d\u00f6nemdeki zirveler test edilebilir. Bu g\u00f6r\u00fc\u015fe kar\u015f\u0131 riskten korunmak veya bu beklentiden kazan\u00e7 hedeflemek i\u00e7in JGB vadeli i\u015flemlerinde (futures, ileri tarihte al\u0131m-sat\u0131m s\u00f6zle\u015fmesi) k\u0131sa pozisyon (fiyat d\u00fc\u015f\u00fc\u015f\u00fcnden kazan\u00e7 hedefleyen i\u015flem) se\u00e7ene\u011fi de\u011ferlendirilebilir.<\/p>\n","protected":false},"excerpt":{"rendered":"
Japonya\u2019da \u00dcFE nisanda ayl\u0131k %2,3 artarak beklentiyi a\u015ft\u0131: Enflasyon alarm\u0131 \u00e7al\u0131yor. BoJ erken \u015fahinle\u015febilir; yen g\u00fc\u00e7lenebilir. USD\/JPY d\u00fc\u015f\u00fc\u015f\u00fc, faiz art\u0131\u015f\u0131 ve JGB getirilerinde y\u00fckseli\u015f fiyatlanabilir.<\/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-46731","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\/46731","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=46731"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46731\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}