{"id":27877,"date":"2013-09-19T08:49:52","date_gmt":"2013-09-19T06:49:52","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=27877"},"modified":"2013-09-19T08:50:08","modified_gmt":"2013-09-19T06:50:08","slug":"fed-in-surpriz-karari-sonrasi-turkiye-sureci-nasil-degerlendirmeli","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/fed-in-surpriz-karari-sonrasi-turkiye-sureci-nasil-degerlendirmeli\/","title":{"rendered":"FED&#8217; in S\u00fcrpriz Karar\u0131 Sonras\u0131 T\u00fcrkiye S\u00fcreci Nas\u0131l De\u011ferlendirmeli?"},"content":{"rendered":"<p>A\u00e7\u0131k\u00e7as\u0131, 22 May\u0131s tarihinde Ben Bernanke\u2019 nin tahvil al\u0131mlar\u0131n\u0131 gelecekte\u00a0 azaltabiliriz mesaj\u0131n\u0131 ne ama\u00e7la verdi\u011fi uzun s\u00fcre tart\u0131\u015f\u0131lacak gibi geliyor. D\u00fcn ak\u015fam T\u00fcrkiye saati ile saat 21,30\u2019da FED, ger\u00e7ekten piyasalar\u0131 sevindiren likiditeye devam mesaj\u0131 ile makro g\u00f6r\u00fcn\u00fcm\u00fc izlemeye devam edece\u011fiz mesaj\u0131n\u0131 verdi. Bu s\u00fcre\u00e7 de Federal A\u00e7\u0131k Piyasa \u0130\u015flemleri Komitesinin Aral\u0131k&#8217; ta yapaca\u011f\u0131 toplant\u0131ya kadar Borsalarda y\u00fckseli\u015f, tahvil-bono piyasas\u0131nda ve Dolarda ise gerilemeye g\u00f6r\u00fclmesi muhtemel g\u00f6z\u00fck\u00fcyor. \u015e\u00fcphesiz en karl\u0131 \u00e7\u0131kan Geli\u015fen Ekonomiler oldu. \u015eu anki s\u00fcre\u00e7te Dolar\u0131n 1,95\u2019in de alt\u0131n\u0131 g\u00f6rmesi olumlu bir geli\u015fme olmas\u0131na ra\u011fmen FED\u2019 in tahvil azaltma karar\u0131n\u0131 g\u00f6zden ge\u00e7irece\u011fi s\u00fcreye kadar T\u00fcrkiye ne yapmal\u0131 art\u0131k onu konu\u015fmal\u0131y\u0131z.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1767931829\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>\u00d6ncelikle T\u00fcrkiyenin b\u00fcy\u00fcme modeli a\u011f\u0131rl\u0131kl\u0131 olarak\u00a0 i\u00e7 talebe dayal\u0131 devam etti\u011fi i\u00e7in, d\u00f6vizdeki gerilemenin ithalat\u0131 y\u00fckseltebilece\u011fi unutulmamal\u0131d\u0131r. TCMB taraf\u0131ndan d\u00fcn a\u00e7\u0131klanan k\u0131sa vadeli D\u0131\u015f Bor\u00e7 Verilerine g\u00f6re, Temmuz ay\u0131 sonu itibariyle, k\u0131sa vadeli d\u0131\u015f bor\u00e7 stoku, 2012 y\u0131l\u0131 sonuna g\u00f6re y\u00fczde 24,5 oran\u0131nda art\u0131\u015fla 125,7 milyar dolar oldu. Bu art\u0131\u015fda \u00f6zellikle \u00f6zel sekt\u00f6r\u00fcn ve bankalar\u0131n yurt d\u0131\u015f\u0131ndan kulland\u0131\u011f\u0131 kredilerdeki art\u0131\u015f, 2013 senesi ilk 7 ay\u0131nda k\u0131sa vadeli d\u0131\u015f bor\u00e7 stok&#8217;unu %24,5 oran\u0131nda artt\u0131rd\u0131. \u00d6zellikle ge\u00e7en hafta a\u00e7\u0131klanan Ocak-Temmuz d\u00f6nemi \u00f6demeler bilan\u00e7osundaki finans hesab\u0131nda, Banka Kredileri 22,417 milyar $&#8217;a ula\u015fm\u0131\u015f durumda. \u00d6nceki senenin Temmuz ay\u0131 ile k\u0131yaslama yapacak olursak, Banka Kredileri 11,870 milyar $ civar\u0131ndayd\u0131. Burada en \u00f6nemli risk, \u015fuan\u00a0 k\u0131sa vadeli d\u0131\u015f bor\u00e7 art\u0131\u015f\u0131, D\u00f6vizdeki gerileme her ne kadar \u00f6zel sekt\u00f6r\u00fcn\u00a0 d\u00f6viz a\u00e7\u0131k pozisyon riskini bir nebze de olsa geriletse bile cari a\u00e7\u0131k sorunu hala devam etmekte ve Do\u011frudan Yat\u0131r\u0131m giri\u015flerinin ilk 7 ayda 5,1 milyar $ oldu\u011funu, Portf\u00f6y yat\u0131r\u0131mlar\u0131 ve Banka Kredileri ile \u00f6demeler dengesi finansman\u0131n\u0131n devam ett\u011fini, risklerin ise ertelenmeye devam etti\u011fini unutmamak gerekiyor.<\/p>\n<p><b>Dr. \u0130smet DEM\u0130RKOL<\/b><\/p>\n<p><b>Bah\u00e7e\u015fehir \u00dcniversitesi \u00d6\u011fretim \u00dcyesi <\/b><\/p>\n<p><b><a href=\"https:\/\/twitter.com\/drismetdemirkol\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener\">https:\/\/twitter.com\/drismetdemirkol<\/a><\/b><\/p>\n<p><b><a href=\"http:\/\/bigyatirim.blogspot.com\/\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener\">http:\/\/bigyatirim.blogspot.com\/<\/a><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A\u00e7\u0131k\u00e7as\u0131, 22 May\u0131s tarihinde Ben Bernanke\u2019 nin tahvil al\u0131mlar\u0131n\u0131 gelecekte\u00a0 azaltabiliriz mesaj\u0131n\u0131 ne ama\u00e7la verdi\u011fi uzun s\u00fcre tart\u0131\u015f\u0131lacak gibi geliyor. D\u00fcn ak\u015fam T\u00fcrkiye saati ile&hellip;<\/p>\n","protected":false},"author":7,"featured_media":24594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tumyazilar"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/27877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=27877"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/27877\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/24594"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=27877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=27877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=27877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}