ABD Hazine tahvili getirileri, enflasyon g\u00f6stergeleri g\u00fc\u00e7lenmesine ra\u011fmen geriledi; bu da kamunun fonlama maliyetleri ile \u00f6zel sekt\u00f6r bor\u00e7lanmas\u0131 aras\u0131nda bir ayr\u0131\u015fma yaratt\u0131. Eyl\u00fcl verileri, \u00dcretici Fiyat Endeksi\u2019nin (\u00dcFE) ayl\u0131k %1,3 ve y\u0131ll\u0131k %6,3 artt\u0131\u011f\u0131n\u0131, \u00e7ekirdek \u00fcretici fiyatlar\u0131n\u0131n ise %0,7 y\u00fckseldi\u011fini g\u00f6sterdi. \u0130thalat fiyatlar\u0131 y\u0131ll\u0131k bazda %8,1 artarken, %5,3\u2019\u00fcn \u00fczerine \u00e7\u0131kt\u0131ktan sonra 10 y\u0131ll\u0131k Hazine tahvili faizi yeniden %5,1\u2019e do\u011fru geri \u00e7ekildi. Bu hareket, devlet tahvillerine talebin daha iyi enflasyon beklentilerinden ziyade riskten ka\u00e7\u0131nma ya da uzun vadeli faizlerin zirveye yak\u0131n oldu\u011fu g\u00f6r\u00fc\u015f\u00fcyle y\u00f6nlendi\u011fine i\u015faret ediyor. Bu de\u011fi\u015fim, tahvil piyasas\u0131n\u0131n makro sinyalini parasal gev\u015femeden \u00e7ok b\u00fcy\u00fcme endi\u015felerine do\u011fru yeniden \u00e7er\u00e7eveliyor.<\/p>\n\n
Kredi piyasalar\u0131, yapay zek\u00e2 altyap\u0131s\u0131 yat\u0131r\u0131mlar\u0131n\u0131n baz\u0131 b\u00f6l\u00fcmleri i\u00e7in daha sert bir mesaj veriyor. 15 Ekim\u2019de CoreWeave borcuna y\u00f6nelik be\u015f y\u0131ll\u0131k temerr\u00fct sigortas\u0131 (CDS) g\u00fcn i\u00e7inde yakla\u015f\u0131k 1.194,5 baz puana \u00e7\u0131kt\u0131; baz\u0131 tahvilleri ise yakla\u015f\u0131k %15\u201316 d\u00fczeyinde ima edilen getirilerle, risksiz faiz gerilerken bile daha geni\u015f kredi spread\u2019lerine i\u015faret etti. Ayn\u0131 zamanda 16 Ekim\u2019de Brent petrol varil ba\u015f\u0131na 110 dolara yakla\u015farak, enflasyon kontrol\u00fc ile s\u0131k\u0131la\u015fan kredi ko\u015fullar\u0131 aras\u0131ndaki dengeyi Fed a\u00e7\u0131s\u0131ndan daha da zorla\u015ft\u0131rd\u0131. Yurtd\u0131\u015f\u0131nda \u00c7in, Eyl\u00fcl\u2019de ihracat\u0131n y\u0131ll\u0131k %36,3 ve ithalat\u0131n %31 artt\u0131\u011f\u0131n\u0131 bildirirken, \u00fcretici fiyatlar\u0131 %5,0 y\u00fckseldi; t\u00fcketici enflasyonu ise %0,9\u2019da kald\u0131. Bu tablo, ABD\u2019de sermaye harcamalar\u0131 yava\u015flarsa k\u00fcresel tedarik zincirlerinin bask\u0131 alt\u0131nda kalabilece\u011fini g\u00f6steriyor.<\/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":" Enflasyon verileri g\u00fc\u00e7lenirken ABD 10 y\u0131ll\u0131k getiriler %5,1\u2019e geriledi; kamu fonlamas\u0131 ucuzlarken \u00f6zel sekt\u00f6r spread\u2019leri a\u00e7\u0131ld\u0131. CoreWeave CDS 1.195 bp, Brent 110 dolar; b\u00fcy\u00fcme kayg\u0131s\u0131 \u00f6ne \u00e7\u0131kt\u0131.<\/p>\n","protected":false},"author":87,"featured_media":69888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-69889","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