S&P Global\u2019in may\u0131s ay\u0131 \u00f6nc\u00fc (flash) ABD Bile\u015fik PMI verisi 51,7 ile nisan ay\u0131ndaki 51,7 ile ayn\u0131 kald\u0131. \u0130malat \u00fcretimi 54,5\u2019ten 55,3\u2019e y\u00fckselerek 54 beklentisini a\u015ft\u0131. Hizmetler PMI ise 51,0\u2019dan 50,9\u2019a geriledi.<\/p>\n
S&P Global, may\u0131sta genel faaliyetin artt\u0131\u011f\u0131n\u0131 ancak y\u0131l\u0131n ba\u015f\u0131na g\u00f6re h\u0131z kesti\u011fini s\u00f6yledi. Kurum, hizmetlerdeki art\u0131\u015f\u0131n zay\u0131f kald\u0131\u011f\u0131n\u0131 ve 2023 sonundan bu yana en zay\u0131f \u00e7eyre\u011fe do\u011fru gitti\u011fini; nisandaki k\u00fc\u00e7\u00fck d\u00fc\u015f\u00fc\u015f\u00fcn ard\u0131ndan yeni i\u015flerin yaln\u0131zca s\u0131n\u0131rl\u0131 artt\u0131\u011f\u0131n\u0131 belirtti.<\/p>\n
\u0130malat \u00fcretimi, d\u00f6rt y\u0131l\u0131 biraz a\u015fk\u0131n s\u00fcrenin en h\u0131zl\u0131 art\u0131\u015f\u0131n\u0131 kaydetti. S&P Global, yeni mal sipari\u015flerindeki art\u0131\u015f\u0131n bir b\u00f6l\u00fcm\u00fcn\u00fc, m\u00fc\u015fterilerin olas\u0131 risklere kar\u015f\u0131 \u201c\u00f6nceden stok yapmas\u0131na\u201d (ihtiyaten stok art\u0131rma) ba\u011flad\u0131.<\/p>\n
Veri \u00f6ncesinde beklentiler; Hizmetler i\u00e7in 51, imalat \u00fcretimi i\u00e7in 54 ve bile\u015fik endeks i\u00e7in 51,7 d\u00fczeyindeydi. PMI\u2019lar (Sat\u0131n Alma Y\u00f6neticileri Endeksi: \u015firket y\u00f6neticileriyle yap\u0131lan anketlerden \u00fcretilen \u00f6nc\u00fc g\u00f6sterge) 50 ve \u00fczerindeyse b\u00fcy\u00fcmeye, 50\u2019nin alt\u0131ndaysa daralmaya i\u015faret eder.<\/p>\n
\u00d6nc\u00fc (flash) verilerin 13:45 GMT\u2019de a\u00e7\u0131klanmas\u0131, nihai verinin ise yakla\u015f\u0131k iki hafta sonra gelmesi planlanm\u0131\u015ft\u0131. ABD dolar\u0131 en \u00e7ok i\u015flem g\u00f6ren para birimidir; k\u00fcresel d\u00f6viz i\u015flemi hacminin (FX turnover: piyasadaki toplam al\u0131m-sat\u0131m hacmi) %88\u2019inden fazlas\u0131n\u0131 olu\u015fturur ve g\u00fcnl\u00fck yakla\u015f\u0131k 6,6 trilyon dolara (2022) kar\u015f\u0131l\u0131k gelir.<\/p>\n
2025\u2019te g\u00f6rd\u00fc\u011f\u00fcm\u00fcz g\u00fc\u00e7l\u00fc imalat \u00fcretimi sonras\u0131nda belirgin bi\u00e7imde so\u011fudu. Y\u00fcksek bor\u00e7lanma maliyetleri yat\u0131r\u0131mlar\u0131 s\u0131n\u0131rlad\u0131; son imalat PMI verileri 50,2 civar\u0131nda seyrederek yaln\u0131zca s\u0131n\u0131rl\u0131 bir b\u00fcy\u00fcmeye i\u015faret etti. Yat\u0131r\u0131mc\u0131lar, sanayi hisselerinde olas\u0131 ek d\u00fc\u015f\u00fc\u015flere kar\u015f\u0131 koruma sa\u011flayan opsiyon stratejilerini (opsiyon: belirli bir tarihe kadar belirli fiyattan alma\/satma hakk\u0131 veren t\u00fcrev \u00fcr\u00fcn) de\u011ferlendirmeli.<\/p>\n
Ge\u00e7en y\u0131l zaten zay\u0131fl\u0131k sinyali veren hizmetler taraf\u0131, yava\u015flama i\u015faretlerini s\u00fcrd\u00fcr\u00fcyor. Son ilk kez i\u015fsizlik maa\u015f\u0131 ba\u015fvurular\u0131 231 bine y\u00fckselerek aylard\u0131r g\u00f6r\u00fclmeyen seviyeye \u00e7\u0131kt\u0131; bu da 2025\u2019te s\u0131k\u0131 olan i\u015fg\u00fcc\u00fc piyasas\u0131n\u0131n gev\u015fedi\u011fini destekliyor. Bu veriler, Fed\u2019in daha \u201cg\u00fcvercin\u201d bir \u00e7izgiye (g\u00fcvercin: faiz art\u0131\u015f\u0131na daha az e\u011filimli, b\u00fcy\u00fcmeyi destekleyen politika yakla\u015f\u0131m\u0131) d\u00f6nme olas\u0131l\u0131\u011f\u0131n\u0131 art\u0131r\u0131yor; bu da faiz vadeli i\u015flemlerinde (interest rate futures: gelecekteki faiz seviyesine ba\u011fl\u0131 kontratlar) uzun pozisyonlar\u0131 daha cazip hale getirebilir.<\/p>\n
2025\u2019teki faiz art\u0131\u015flar\u0131 enflasyonu zirveden a\u015fa\u011f\u0131 \u00e7ekmede etkili olsa da son T\u00dcFE (CPI: t\u00fcketici fiyat endeksi) verisi %3,4 ile ilerlemenin durdu\u011funu g\u00f6steriyor. B\u00fcy\u00fcme yava\u015flarken enflasyonun %2 hedefinin \u00fczerinde kalmas\u0131 Fed\u2019i zor bir dengeye itiyor. Bu durum, VIX\u2019in (S&P 500 oynakl\u0131k endeksi: piyasadaki beklenen dalgalanmay\u0131 g\u00f6steren \u201ckorku endeksi\u201d) son haftalarda 15\u2019in \u00fczerine \u00e7\u0131kmas\u0131n\u0131 da a\u00e7\u0131kl\u0131yor.<\/p>\n","protected":false},"excerpt":{"rendered":"
ABD\u2019de PMI s\u00fcrprizi: Bile\u015fik 51,7\u2019de yatay, imalat \u00fcretimi 55,3\u2019e s\u0131\u00e7ray\u0131p beklentiyi a\u015ft\u0131; hizmetler 50,9\u2019a indi. Faaliyet art\u0131yor ama momentum zay\u0131f; Fed\u2019e g\u00fcvercin alan.<\/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-47202","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\/47202","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=47202"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/47202\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=47202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=47202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=47202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}