\u0130spanya\u2019n\u0131n perakende sat\u0131\u015f b\u00fcy\u00fcmesi nisan ay\u0131nda sert \u015fekilde yava\u015flad\u0131. Y\u0131ll\u0131k bazda ciro art\u0131\u015f\u0131 %0,8 oldu. Bu oran, bir \u00f6nceki ayki %4,1\u2019lik art\u0131\u015fa g\u00f6re belirgin bir d\u00fc\u015f\u00fc\u015fe i\u015faret ederek t\u00fcketiciye d\u00f6n\u00fck faaliyetlerde ivme kayb\u0131n\u0131 g\u00f6sterdi.<\/p>\n
Son veri, y\u0131l\u0131n ba\u015f\u0131ndaki daha g\u00fc\u00e7l\u00fc seyrin ard\u0131ndan belirgin bir yava\u015flamaya i\u015faret ediyor ve ikinci \u00e7eyrek ba\u015flarken perakendecilerin talepte daha zay\u0131f bir tempo g\u00f6rd\u00fc\u011f\u00fcn\u00fc d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor.<\/p>\n
\u0130spanya\u2019da perakende sat\u0131\u015f b\u00fcy\u00fcmesinin nisanda %4,1\u2019den %0,8\u2019e gerilemesi \u00f6nemli bir uyar\u0131 sinyali. Bu sert yava\u015flama, ekonominin ana motorlar\u0131ndan biri olan t\u00fcketici talebinin zay\u0131flad\u0131\u011f\u0131na i\u015faret ediyor. Bunu, y\u0131l\u0131n ikinci yar\u0131s\u0131nda olas\u0131 bir ekonomik yava\u015flaman\u0131n erken g\u00f6stergesi olarak de\u011ferlendiriyoruz.<\/p>\n
Bu veri tek ba\u015f\u0131na de\u011fil. \u0130spanya\u2019n\u0131n son HICP enflasyonu (AB uyumlu t\u00fcketici fiyat endeksi) %3,5 seviyesinde ve bu durum sat\u0131n alma g\u00fcc\u00fcn\u00fc a\u015f\u0131nd\u0131r\u0131yor. Buna ek olarak i\u015fsizlik oran\u0131 %12,1\u2019e y\u00fckseldi; bu da i\u015fg\u00fcc\u00fc piyasas\u0131n\u0131n (istihdam\u0131n genel durumu) ivme kaybetti\u011fini g\u00f6steriyor. Bu unsurlar birlikte, t\u00fcketici harcamalar\u0131 i\u00e7in zor bir zemin olu\u015fturuyor.<\/p>\n
Bu g\u00f6r\u00fcn\u00fcm \u0131\u015f\u0131\u011f\u0131nda, IBEX 35 endeksi \u00fczerinde sat\u0131m opsiyonu (put: belirli bir vadede belirli fiyattan satma hakk\u0131; d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 korunma sa\u011flar) alarak korunma ve olas\u0131 kazan\u00e7 hedefliyoruz. Endeks ge\u00e7en hafta %2 geri \u00e7ekildi; 50 g\u00fcnl\u00fck hareketli ortalaman\u0131n (son 50 g\u00fcn\u00fcn ortalama fiyat\u0131; teknik analizde trend g\u00f6stergesi) alt\u0131na sarkmas\u0131, ek sat\u0131\u015flar\u0131 tetikleyebilir. Put almak, \u0130spanya hisselerinde d\u00fc\u015f\u00fc\u015f senaryosuna s\u0131n\u0131rl\u0131 riskle (\u00f6denen primle s\u0131n\u0131rl\u0131) pozisyon almay\u0131 sa\u011flar.<\/p>\n
Ayr\u0131ca piyasa oynakl\u0131\u011f\u0131n\u0131n (fiyatlar\u0131n h\u0131zl\u0131 ve sert dalgalanmas\u0131) artmas\u0131n\u0131 bekliyoruz. Benzer yava\u015flamalarda, \u00f6rne\u011fin 2011\u2019deki egemen bor\u00e7 (devlet borcu) endi\u015feleri \u00f6ncesindeki d\u00f6nemde g\u00f6r\u00fclen \u00f6r\u00fcnt\u00fcler bunu destekliyor. Bu, opsiyon primlerinin (opsiyonun maliyeti) \u00f6n\u00fcm\u00fczdeki haftalarda y\u00fckselme olas\u0131l\u0131\u011f\u0131n\u0131 art\u0131r\u0131r. Bu nedenle, oynakl\u0131k daha da artmadan ay\u0131 put spread gibi (ayn\u0131 vadede bir put al\u0131p daha d\u00fc\u015f\u00fck kullan\u0131m fiyatl\u0131 bir put satma; maliyeti d\u00fc\u015f\u00fcren d\u00fc\u015f\u00fc\u015f stratejisi) d\u00fc\u015f\u00fc\u015f y\u00f6nl\u00fc stratejiler avantajl\u0131 olabilir.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u015eok veri: \u0130spanya\u2019da perakende cirosu nisanda %4,1\u2019den %0,8\u2019e \u00e7ak\u0131ld\u0131; talep ivmesi kayboluyor. Enflasyon %3,5, i\u015fsizlik %12,1; IBEX 35\u2019te put\/ay\u0131 spread ile korunma 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-47562","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\/47562","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=47562"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/47562\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=47562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=47562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=47562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}