\u0130talya\u2019n\u0131n AB uyumla\u015ft\u0131r\u0131lm\u0131\u015f t\u00fcketici fiyat endeksi Temmuz\u2019da y\u0131ll\u0131k bazda %2,9 artt\u0131 ve %2,8\u2019lik beklentinin \u00fczerinde ger\u00e7ekle\u015fti. Veri, d\u00f6nem boyunca enflasyon ko\u015fullar\u0131n\u0131n \u00f6ng\u00f6r\u00fclenden bir miktar daha g\u00fc\u00e7l\u00fc seyretti\u011fine i\u015faret ediyor.<\/p>\n\n
\u0130talya’da enflasyonun Temmuz\u2019da %2,9\u2019a y\u00fckselerek %2,8\u2019lik tahmini a\u015fmas\u0131, Euro B\u00f6lgesi\u2019nin \u00fc\u00e7\u00fcnc\u00fc b\u00fcy\u00fck ekonomisinde fiyat bask\u0131lar\u0131n\u0131n inat\u00e7\u0131 kald\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Bu s\u00fcrpriz verinin, k\u0131sa vadede \u0130talyan devlet tahvili getirileri \u00fczerinde yukar\u0131 y\u00f6nl\u00fc bask\u0131 yaratmas\u0131n\u0131 ve yak\u0131ndan izlenen \u0130talya-Almanya tahvil spread\u2019inin a\u00e7\u0131lmas\u0131n\u0131 bekliyoruz. T\u00fcrev yat\u0131r\u0131mc\u0131lar\u0131, \u00f6n\u00fcm\u00fczdeki haftalarda tahvil fiyatlar\u0131ndaki d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 hedge amac\u0131yla \u0130talyan BTP vadeli i\u015flemlerinde put opsiyon al\u0131m\u0131n\u0131 de\u011ferlendirebilir.<\/p>\n
Bu veri, Avrupa Merkez Bankas\u0131\u2019n\u0131n (ECB) \u00f6n\u00fcm\u00fczdeki aylarda faiz indirimlerine devam etme planlar\u0131n\u0131 zorla\u015ft\u0131r\u0131yor. Tarihsel olarak, G\u00fcney Avrupa\u2019da beklenmedik enflasyon s\u0131\u00e7ramalar\u0131, Euro k\u0131sa vadeli faiz vadeli i\u015flemlerinde yakla\u015fan faiz indirimlerinin h\u0131zla fiyatlamadan \u00e7\u0131kar\u0131lmas\u0131na neden olur. Biz, bu \u015fahin fiyatlama de\u011fi\u015fiminden faydalanmak i\u00e7in \u00fc\u00e7 ayl\u0131k Euribor gibi k\u0131sa vadeli faiz vadeli i\u015flemlerinde k\u0131sa (short) pozisyon al\u0131nmas\u0131n\u0131 \u00f6neriyoruz.<\/p>\n\n
Euro\u2019nun, getiri farklar\u0131n\u0131n ABD Dolar\u0131\u2019na kar\u015f\u0131 lehine d\u00f6nmesiyle k\u0131sa vadede destek bulmas\u0131 da olas\u0131. Son bir y\u0131lda Avrupa\u2019da beklenti \u00fczeri enflasyon verileri, EUR\/USD kurunda s\u0131k\u00e7a sert ve k\u0131sa vadeli y\u00fckseli\u015fleri tetikledi. Bu potansiyel yukar\u0131 hareketi yakalamak i\u00e7in k\u0131sa vadeli EUR\/USD call opsiyonlar\u0131n\u0131n al\u0131nmas\u0131n\u0131 \u00f6neriyoruz.<\/p>\n
Buna ek olarak, \u201cdaha uzun s\u00fcre y\u00fcksek\u201d faiz\/getiri ortam\u0131 Avrupa b\u00fcy\u00fcme hisseleri \u00fczerinde bask\u0131 yarat\u0131rken bankac\u0131l\u0131k sekt\u00f6r\u00fcn\u00fc destekleyebilir. Uzun s\u00fcre y\u00fcksek faizlerden fayda g\u00f6rmesi beklenen Euro B\u00f6lgesi finans ETF\u2019lerinde call opsiyon al\u0131m\u0131n\u0131 \u00f6neriyoruz. Ayn\u0131 zamanda, daha geni\u015f piyasa geri \u00e7ekilmelerine kar\u015f\u0131 korunmak i\u00e7in Euro Stoxx 50 endeksi \u00fczerinde koruyucu put opsiyonlar\u0131 sat\u0131n al\u0131nabilir.<\/p>\n\n\n\n
Hemen i\u015flem yapmaya ba\u015flay\u0131n \u2014 ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":" S\u00fcrpriz veri: \u0130talya HICP Temmuz\u2019da %2,9\u2019a \u00e7\u0131karak beklentiyi a\u015ft\u0131. BTP getirileri ve \u0130talya-Almanya spread\u2019i y\u00fckselebilir; ECB indirim fiyatlamas\u0131 zay\u0131flar. Euribor short, EUR\/USD call; bankalara call, Euro Stoxx\u2019a put.<\/p>\n","protected":false},"author":87,"featured_media":50069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-52132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t