\u0130sve\u00e7\u2019in imalat yeni sipari\u015fleri Temmuz\u2019da y\u0131ll\u0131k bazda %0,5 gerileyerek \u00f6nceki d\u00f6nemdeki %29,9\u2019luk art\u0131\u015f\u0131n tersine d\u00f6nd\u00fc. Bu de\u011fi\u015fim, \u00f6nceki sert y\u00fckseli\u015fin ard\u0131ndan yeniden daralma b\u00f6lgesine d\u00f6n\u00fc\u015fe i\u015faret ediyor.<\/p>\n\n
Daha zay\u0131f bir \u0130sve\u00e7 Kronu\u2019na (SEK) ve Nordik hisse senedi t\u00fcrevlerinde olas\u0131 oynakl\u0131\u011fa haz\u0131rl\u0131kl\u0131 olmam\u0131z gerekiyor. \u0130sve\u00e7\u2019in imalat yeni sipari\u015flerindeki dramatik d\u00fc\u015f\u00fc\u015f\u00fcn\u2014Temmuz\u2019da %29,9\u2019dan -%0,5\u2019e gerilemesi\u2014sanayi talebinde sert bir yava\u015flamaya i\u015faret etti\u011fi g\u00f6r\u00fcl\u00fcyor. Bu ani daralma, ihracat odakl\u0131 \u0130sve\u00e7 ekonomisinin ivme kaybetti\u011fini g\u00f6steriyor ve Riksbank\u2019\u0131 muhtemelen daha g\u00fcvercin bir duru\u015fa zorlayacakt\u0131r.<\/p>\n\n
Euro B\u00f6lgesi ile \u0130sve\u00e7 aras\u0131ndaki getiri fark\u0131n\u0131n daralmas\u0131 kronu zay\u0131flatma e\u011filiminde oldu\u011fundan, EUR\/SEK paritesini hedeflemeyi \u00f6neriyoruz. Tarihsel olarak \u0130sve\u00e7\u2019te imalat yeni sipari\u015fleri negatif b\u00f6lgeye indi\u011finde Riksbank, Avrupal\u0131 muadillerine k\u0131yasla faizleri daha h\u0131zl\u0131 indirme bask\u0131s\u0131yla kar\u015f\u0131 kar\u015f\u0131ya kal\u0131yor. Bu yukar\u0131 y\u00f6nl\u00fc hareketten faydalanmak i\u00e7in iki ila d\u00f6rt hafta vadeli EUR\/SEK al\u0131m (call) opsiyonlar\u0131 cazip bir risk-getiri profili sunuyor.<\/p>\n\n
Buna ek olarak, faiz t\u00fcrevlerinde \u00f6zellikle \u0130sve\u00e7 swap faizlerinde d\u00fc\u015f\u00fc\u015f senaryosuna pozisyon al\u0131nabilir. \u0130sve\u00e7\u2019in imalat sat\u0131n alma y\u00f6neticileri endeksi (PMI) de 50 puanl\u0131k b\u00fcy\u00fcme e\u015fi\u011finin \u00fczerinde kalmakta zorlan\u0131yor; son d\u00f6nemde yakla\u015f\u0131k 50,6 seviyesinde seyretti. Sanayi talebi daral\u0131rken, piyasalar\u0131n agresif faiz indirimlerini fiyatlamas\u0131yla k\u0131sa vadeli tahvil getirilerinin gerilemesi bekleniyor.<\/p>\n\n
Hisse senedi t\u00fcrevleri taraf\u0131nda OMXS30 (OMX Stockholm 30) Endeksi \u00fczerine koruyucu sat\u0131m (put) opsiyonlar\u0131 al\u0131m\u0131 de\u011ferlendirilebilir. Volvo ve Atlas Copco gibi b\u00fcy\u00fck sanayi \u015firketleri bu endekste a\u011f\u0131rl\u0131kl\u0131 yer tutuyor ve hem k\u00fcresel hem de yurt i\u00e7i imalat talebine y\u00fcksek duyarl\u0131l\u0131k ta\u015f\u0131yor. \u0130sve\u00e7\u2019in en b\u00fcy\u00fck ticaret orta\u011f\u0131 Almanya\u2019n\u0131n da 42,4 ile dura\u011fan\/gerileyen bir imalat PMI\u2019\u0131 ile m\u00fccadele etti\u011fi dikkate al\u0131nd\u0131\u011f\u0131nda, daha geni\u015f \u00e7apl\u0131 bir Avrupa sanayi zay\u0131fl\u0131\u011f\u0131 \u0130sve\u00e7 \u015firket k\u00e2rl\u0131l\u0131klar\u0131n\u0131 bask\u0131lamay\u0131 s\u00fcrd\u00fcrecektir.<\/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":" \u015eok veri: \u0130sve\u00e7 imalat yeni sipari\u015fleri Temmuz\u2019da %29,9 art\u0131\u015ftan %-0,5\u2019e d\u00f6nd\u00fc. SEK zay\u0131flayabilir; Riksbank g\u00fcvercinle\u015febilir. EUR\/SEK call, swap getirilerinde d\u00fc\u015f\u00fc\u015f, OMXS30 put \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":50014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-53851","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