Japan Jibun Bank\u2019in imalat PMI verisi A\u011fustos ay\u0131nda 54,9 seviyesinde ger\u00e7ekle\u015ferek piyasan\u0131n 55,1\u2019lik beklentisinin alt\u0131nda kald\u0131. Veri, fabrika faaliyetlerinde geni\u015flemeye i\u015faret etmeyi s\u00fcrd\u00fcrse de, tahminlere k\u0131yasla ivmenin bir miktar zay\u0131flad\u0131\u011f\u0131na dikkat \u00e7ekti.<\/p>\n
PMI, Japan Jibun Bank anket \u00e7er\u00e7evesinde derleniyor ve imalat sekt\u00f6r\u00fcnde \u00fcretim, sipari\u015fler ve istihdam e\u011filimlerine ili\u015fkin erken sinyal vermesi a\u00e7\u0131s\u0131ndan yak\u0131ndan izleniyor. Endeks 54,9 ile b\u00fcy\u00fcme ile daralmay\u0131 ay\u0131ran 50 e\u015fi\u011finin \u00fczerinde kal\u0131rken, 55,1\u2019lik konsens\u00fcs tahminini yakalayamad\u0131.<\/p>\n
Jibun Bank Japonya \u0130malat PMI\u2019\u0131 A\u011fustos\u2019ta 54,9 ile 55,1\u2019lik piyasa beklentisini ka\u00e7\u0131rd\u0131. Bu seviye 50,0 e\u015fi\u011finin belirgin \u00fczerinde g\u00fc\u00e7l\u00fc bir geni\u015flemeye i\u015faret etse de, k\u00fc\u00e7\u00fck sapma Japonya\u2019da sanayi ivmesinin \u0131l\u0131ml\u0131la\u015ft\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor. Bu s\u0131n\u0131rl\u0131 hayal k\u0131r\u0131kl\u0131\u011f\u0131n\u0131n, \u00f6n\u00fcm\u00fczdeki haftalarda Japonya Merkez Bankas\u0131\u2019n\u0131n (BoJ) h\u0131zl\u0131 faiz art\u0131r\u0131mlar\u0131na y\u00f6nelik agresif fiyatlamay\u0131 ge\u00e7ici olarak so\u011futaca\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyoruz.<\/p>\n
D\u00f6viz t\u00fcrevleri i\u015flemcileri a\u00e7\u0131s\u0131ndan bu veri, Japon Yeni al\u0131m\u0131nda temkinli duru\u015fu destekliyor. USD\/JPY opsiyonlar\u0131nda ima edilen volatilite, piyasalar\u0131n merkez bankas\u0131n\u0131n bir sonraki ad\u0131m\u0131n\u0131 fiyatlamaya \u00e7al\u0131\u015fmas\u0131yla son d\u00f6nemde %11,5 civar\u0131na y\u00fckseldi. Politika yap\u0131c\u0131lar\u0131n para politikas\u0131n\u0131 s\u0131k\u0131la\u015ft\u0131rmak i\u00e7in daha az acil bask\u0131 hissetti\u011fi bir ortamda daha zay\u0131f bir para biriminden faydalanmak amac\u0131yla k\u0131sa vadeli Yen sat\u0131m (put) opsiyonlar\u0131n\u0131n kullan\u0131lmas\u0131n\u0131 \u00f6neriyoruz.<\/p>\n
Hisse senedi t\u00fcrevleri i\u015flemcileri, agresif s\u0131k\u0131la\u015fma olmadan istikrarl\u0131 b\u00fcy\u00fcmenin s\u00fcrd\u00fc\u011f\u00fc bu ortamdan Nikkei 225 \u00fczerinden faydalanmay\u0131 de\u011ferlendirmeli. Tarihsel olarak PMI geni\u015fleme b\u00f6lgesinde kal\u0131p y\u00fcksek beklentilerin alt\u0131nda geldi\u011finde, Yen\u2019deki zay\u0131fl\u0131\u011f\u0131n deste\u011fiyle ihracat a\u011f\u0131rl\u0131kl\u0131 Japon hisseleri destek bulma e\u011filiminde oluyor. \u00d6n\u00fcm\u00fczdeki iki hafta i\u00e7inde olas\u0131 bir \u201crahatlama rallisini\u201d yakalamak i\u00e7in Nikkei endeks vadeli i\u015flemleri \u00fczerinde ba\u015fa ba\u015fa yak\u0131n (near-the-money) al\u0131m (call) opsiyonlar\u0131n\u0131 tercih ediyoruz.<\/p>\n
Sabit getirili t\u00fcrevler taraf\u0131nda ise, veri sonras\u0131 Japonya 10 y\u0131ll\u0131k devlet tahvili getirileri %0,95 civar\u0131nda dengelendi. Yurti\u00e7indeki faiz art\u0131r\u0131m\u0131 d\u00f6ng\u00fcs\u00fcnde olas\u0131 bir duraksamaya kar\u015f\u0131 korunma amac\u0131yla JGB vadeli kontratlar\u0131nda uzun pozisyonlar\u0131n de\u011ferlendirilebilece\u011fini d\u00fc\u015f\u00fcn\u00fcyoruz. Bu \u201ctatl\u0131 nokta\u201d g\u00f6r\u00fcn\u00fcm\u00fc, getiriler \u00fczerinde k\u0131sa vadede yukar\u0131 y\u00f6nl\u00fc bask\u0131y\u0131 s\u0131n\u0131rlayarak k\u0131sa vadeli tahvil bazl\u0131 y\u00fckseli\u015f y\u00f6nl\u00fc t\u00fcrevleri daha cazip k\u0131l\u0131yor.<\/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":" PMI s\u00fcrprizi: Japon imalat\u0131 A\u011fustos\u2019ta 54,9\u2019a inerek 55,1 beklentisini ka\u00e7\u0131rd\u0131. Geni\u015fleme s\u00fcrse de ivme zay\u0131fl\u0131yor; BoJ \u015fahin fiyatlama so\u011fuyabilir, yen bask\u0131lanabilir. Nikkei ve JGB t\u00fcrevleri \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":50041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-53475","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