Bel\u00e7ika\u2019n\u0131n gayri safi yurt i\u00e7i has\u0131las\u0131 (GSYH), ikinci \u00e7eyrekte \u00e7eyreklik bazda de\u011fi\u015fim g\u00f6stermeyerek beklentilere paralel \u015fekilde %0\u2019da kald\u0131. Sonu\u00e7, \u00f6nceki d\u00f6nemdeki faaliyetin ard\u0131ndan ivmenin durdu\u011funa i\u015faret ederken, \u00fcretim \u00fc\u00e7 ayl\u0131k d\u00f6nemde geni\u015fleyemedi.<\/p>\n
2\u00c7\u2019de GSYH\u2019nin QoQ bazda de\u011fi\u015fmemesi, ekonominin \u00e7eyrek boyunca ne b\u00fcy\u00fcd\u00fc\u011f\u00fcn\u00fc ne de darald\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Veri, y\u0131l ortas\u0131ndaki ko\u015fullar\u0131n net bir foto\u011fraf\u0131n\u0131 sunarak piyasa uzla\u015f\u0131s\u0131yla uyumlu \u015fekilde s\u0131f\u0131r b\u00fcy\u00fcmeye i\u015faret ediyor.<\/p>\n
Bel\u00e7ika’n\u0131n ikinci \u00e7eyrekte %0 olan yatay GSYH b\u00fcy\u00fcmesi, Euro B\u00f6lgesi\u2019nde ekonomik momentumun zay\u0131flad\u0131\u011f\u0131n\u0131 teyit ediyor. Bu durgunlu\u011fun, Avrupa Merkez Bankas\u0131\u2019n\u0131 (ECB) yakla\u015fan Eyl\u00fcl toplant\u0131s\u0131nda faiz indirimlerine daha agresif gitmeye zorlayaca\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyoruz. Tarihsel olarak, Avrupa\u2019n\u0131n kilit ekonomilerinde b\u00fcy\u00fcmenin s\u0131f\u0131ra yak\u0131n seyretti\u011fi d\u00f6nemlerde Euribor vadeli i\u015flemleri gibi k\u0131sa vadeli faiz t\u00fcrevlerinde, daha d\u00fc\u015f\u00fck bor\u00e7lanma maliyetlerinin fiyatlanmas\u0131yla y\u00fckseli\u015fler g\u00f6r\u00fcl\u00fcr.<\/p>\n
Bu e\u011filimden faydalanmak i\u00e7in \u00f6n\u00fcm\u00fczdeki haftalarda Euro B\u00f6lgesi bor\u00e7lanma ara\u00e7lar\u0131 ve faiz t\u00fcrevlerine odaklan\u0131lmas\u0131n\u0131 \u00f6neriyoruz. Bel\u00e7ika 10 y\u0131ll\u0131k devlet tahvili getirisi hali haz\u0131rda %2,9 civar\u0131nda seyrederken Almanya Bund\u2019lar\u0131 %2,2 d\u00fczeyinde; mali bask\u0131lar\u0131n artmas\u0131yla aradaki getiri fark\u0131n\u0131n (spread) geni\u015flemesini bekliyoruz. Piyasan\u0131n zay\u0131flayan b\u00fcy\u00fcme ger\u00e7eklerine uyum sa\u011flamas\u0131yla Aral\u0131k 2026 Euribor vadeli kontratlar\u0131nda uzun pozisyonlar, cazip bir risk-getiri profili sunuyor.<\/p>\n
Ayr\u0131ca, bu i\u00e7 kaynakl\u0131 zay\u0131fl\u0131k, ABD\u2019de GSYH b\u00fcy\u00fcmesinin h\u00e2len daha sa\u011fl\u0131kl\u0131 %2,1 seviyesinde seyretmesiyle birlikte Euro \u00fczerinde a\u015fa\u011f\u0131 y\u00f6nl\u00fc bask\u0131 yarat\u0131yor. T\u00fcrev yat\u0131r\u0131mc\u0131lar\u0131na, Ekim 2026 vadeli EUR\/USD sat\u0131m (put) opsiyonlar\u0131 alarak daha zay\u0131f bir para birimine pozisyonlanmalar\u0131n\u0131 \u00f6neriyoruz. Bu yakla\u015f\u0131m, paritenin \u00f6n\u00fcm\u00fczdeki haftalarda 1,07 seviyesine do\u011fru geri \u00e7ekilmesi halinde kazan\u00e7 imk\u00e2n\u0131 sa\u011flar.<\/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":" Bel\u00e7ika GSYH\u2019si 2\u00c7\u2019de %0\u2019da tak\u0131l\u0131 kald\u0131: Euro B\u00f6lgesi\u2019nde momentum zay\u0131fl\u0131yor. Piyasalar ECB\u2019den Eyl\u00fcl\u2019de daha agresif faiz indirimi fiyatlayabilir; Euribor long, tahvil spread geni\u015flemesi, EUR\/USD put g\u00fcndemde.<\/p>\n","protected":false},"author":87,"featured_media":50107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-53449","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