ABD hisseleri sal\u0131 g\u00fcn\u00fc geriledi. Dow endeksi, g\u00fcnler \u00f6nce k\u0131sa s\u00fcreli\u011fine 50.000 seviyesine dokunduktan sonra a\u015fa\u011f\u0131 y\u00f6neldi. Hareketi tahvil sat\u0131\u015flar\u0131 tetikledi: 30 y\u0131ll\u0131k ABD Hazine tahvili faizi (getiri), petrol fiyatlar\u0131 d\u00fc\u015ferken bile %5,18\u2019in \u00fczerine \u00e7\u0131karak yakla\u015f\u0131k 19 y\u0131l\u0131n en y\u00fcksek d\u00fczeyini g\u00f6rd\u00fc.<\/p>\n
Donald Trump, \u0130ran konusunda gece saatlerinde geri ad\u0131m att\u0131. Bu geli\u015fme vadeli i\u015flemlere (futures: borsan\u0131n a\u00e7\u0131l\u0131\u015f\u0131ndan \u00f6nce al\u0131n\u0131p sat\u0131lan kontratlar) k\u0131sa s\u00fcreli destek verdi; ancak normal seansta (cash trading: spot piyasa) hava bozuldu. Petrol d\u00fc\u015ferken tahvil faizlerinin y\u00fckselmesi, piyasan\u0131n enflasyon bask\u0131s\u0131n\u0131 sadece ham petrole ba\u011fl\u0131 g\u00f6rmedi\u011fine i\u015faret etti.<\/p>\n
Kevin Warsh\u2019\u0131n cuma g\u00fcn\u00fc ABD Merkez Bankas\u0131 (Fed) Ba\u015fkan\u0131 olarak yemin etmesi bekleniyor. Uzun vadeli faizlerin y\u00fckselmesi; mortgage (konut kredisi) ve kredi kart\u0131 gibi bor\u00e7lanma maliyetlerini art\u0131rarak, ayr\u0131ca \u015firket de\u011ferlemesinde kullan\u0131lan iskonto oran\u0131n\u0131 (gelecekteki kazan\u00e7lar\u0131n bug\u00fcnk\u00fc de\u011fere indirgenmesi) y\u00fckselterek hisseler \u00fczerinde bask\u0131 kuruyor.<\/p>\n
Yar\u0131 iletken hisseleri de geri \u00e7ekildi. Philadelphia Semiconductor Index (SOX: yar\u0131 iletken \u015firketlerini izleyen endeks) %1,4 d\u00fc\u015ft\u00fc ve \u00fc\u00e7 seansta toplamda %7\u2019nin \u00fczerinde de\u011fer kaybetti. Nvidia, \u00e7ar\u015famba g\u00fcn\u00fc kapan\u0131\u015f sonras\u0131 a\u00e7\u0131klanacak mali y\u0131l 1. \u00e7eyrek sonu\u00e7lar\u0131 \u00f6ncesinde \u00fc\u00e7\u00fcnc\u00fc g\u00fcnde de gerilerken; Qualcomm %3\u2019ten fazla, Broadcom ise yakla\u015f\u0131k %2 d\u00fc\u015ft\u00fc.<\/p>\n
Bat\u0131 Teksas t\u00fcr\u00fc ham petrol (WTI) 104 dolara do\u011fru sarkarken, Brent 111 dolar\u0131n alt\u0131na indi. Piyasalar \u015fimdi S&P Global\u2019in may\u0131s \u00f6nc\u00fc PMI verilerini (PMI: sat\u0131n alma y\u00f6neticileri endeksi; 50\u2019nin \u00fczeri b\u00fcy\u00fcmeye i\u015faret eder) bekliyor: imalat 54, hizmetler 51. Ayr\u0131ca Michigan \u00dcniversitesi\u2019nin enflasyon beklentileri izlenecek: 1 y\u0131l i\u00e7in %4,5 ve 5 y\u0131l i\u00e7in %3,4.<\/p>\n
Kal\u0131c\u0131 enflasyon Fed\u2019i ad\u0131m atmaya zorlayarak belirsizli\u011fi art\u0131r\u0131yor; bu da piyasa dalgalanmas\u0131n\u0131 (volatilite: fiyatlar\u0131n h\u0131zl\u0131 ve geni\u015f aral\u0131kta hareket etmesi) besliyor. \u015eu anda VIX (S&P 500 i\u00e7in \u201ckorku endeksi\u201d olarak bilinen oynakl\u0131k g\u00f6stergesi) 22 civar\u0131nda; bu seviye y\u00fcksek olsa da panik d\u00fczeyi de\u011fil. Bu da olas\u0131 bir d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 koruma ama\u00e7l\u0131 opsiyonlar\u0131n (options: belirli fiyattan alma\/satma hakk\u0131 veren s\u00f6zle\u015fme) g\u00f6rece daha uygun fiyatl\u0131 olabilece\u011fini g\u00f6steriyor. VIX call almak (call: y\u00fckseli\u015fe oynayan opsiyon) ya da endeks put opsiyonu (put: d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 koruma sa\u011flayan opsiyon) kullanmak, Fed\u2019in yeni ba\u015fkan\u0131n\u0131n kararl\u0131l\u0131\u011f\u0131n\u0131n test edilmesine kar\u015f\u0131 haz\u0131rl\u0131k i\u00e7in daha temkinli bir yakla\u015f\u0131m olabilir.<\/p>\n
Piyasay\u0131 yukar\u0131 ta\u015f\u0131yan teknoloji ve yar\u0131 iletken hisseleri, faiz art\u0131\u015flar\u0131na en duyarl\u0131 gruplar aras\u0131nda. Bunlar \u201cuzun vadeli\u201d varl\u0131klar (long-duration: de\u011feri gelecekteki kazan\u00e7lara daha \u00e7ok ba\u011fl\u0131 oldu\u011fu i\u00e7in faiz art\u0131\u015f\u0131ndan daha fazla etkilenen) oldu\u011fundan, faizler y\u00fckseldi\u011finde daha sert bask\u0131 g\u00f6rebiliyor. SOX endeksinin son zirvelerden geri \u00e7ekilmesiyle zay\u0131flama yeniden belirginle\u015fiyor. T\u00fcrev i\u015flem yapan yat\u0131r\u0131mc\u0131lar (derivative: de\u011feri ba\u015fka bir varl\u0131\u011fa ba\u011fl\u0131 finansal \u00fcr\u00fcn), Nvidia gibi hisselerin a\u011f\u0131rl\u0131kta oldu\u011fu portf\u00f6ylerde veya daha geni\u015f Nasdaq 100 endeksinde a\u015fa\u011f\u0131 y\u00f6nl\u00fc riske kar\u015f\u0131 opsiyonlarla korunmay\u0131 d\u00fc\u015f\u00fcnebilir.<\/p>\n
Tahvil piyasas\u0131n\u0131n verdi\u011fi sinyal bug\u00fcn de \u00f6nemli. 10 y\u0131ll\u0131k ABD tahvil faizi %4,8\u2019e yeniden yakla\u015f\u0131rken, tahvil faizlerinin petrol fiyatlar\u0131ndan ayr\u0131\u015fmas\u0131 (decoupling: birlikte hareketin zay\u0131flamas\u0131) enflasyon hik\u00e2yesinin sadece jeopolitik geli\u015fmelerle s\u0131n\u0131rl\u0131 olmad\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Y\u00fckselen faizlerden faydalanan pozisyonlar; \u00f6rne\u011fin Hazine tahvili vadeli i\u015flemlerinde k\u0131sa pozisyon (short: fiyat d\u00fc\u015f\u00fc\u015f\u00fcnden kazan\u00e7 hedeflemek) almak veya faize duyarl\u0131 ETF\u2019lerde (ETF: borsa yat\u0131r\u0131m fonu) opsiyon kullanmak, bu temay\u0131 do\u011frudan de\u011ferlendirme yollar\u0131 aras\u0131nda.<\/p>\n","protected":false},"excerpt":{"rendered":"
Wall Street\u2019te sat\u0131\u015f dalgas\u0131: Tahvil faizleri 19 y\u0131l\u0131n zirvesinde, Dow geri \u00e7ekildi. Petrol d\u00fc\u015fse de enflasyon endi\u015fesi s\u00fcr\u00fcyor. Fed\u2019de Warsh d\u00f6nemi, teknoloji\/\u00e7ip hisselerini ve volatiliteyi bask\u0131l\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-47025","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\/47025","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=47025"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/47025\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=47025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=47025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=47025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}