FED d\u00fcn gece itibar\u0131yla karar\u0131n\u0131 a\u00e7\u0131klad\u0131 ama bu yaz\u0131 daha \u00f6nceden haz\u0131rland\u0131. D\u00fcn ak\u015famki karar\u0131n\u00a0belli bir \u00f6nemi var. Ancak genel sonucu de\u011fi\u015ftirecek boyutta de\u011fil. FED’in d\u00fcnk\u00fc karar\u0131ndan sonra\u00a0piyasalar\u0131n verece\u011fi tepki, pozisyonlar\u0131na ince ayar \u00e7ekmek \u015feklinde olabilir.
\n\u00c7\u00fcnk\u00fc kal\u0131n ayar 22 May\u0131s’tan bu yana \u00e7ekildi zaten. 3 ay\u0131 a\u015fan bir zaman\u0131 kapsayan ve a\u011fustos ile\u00a0biten d\u00f6nemde k\u00fcresel piyasalarda FED’in ataca\u011f\u0131 ad\u0131m fiyatland\u0131. Hatta bu fiyatlama, s\u00fcrecin ilk\u00a0a\u015famas\u0131 i\u00e7in biraz fazlaya da ka\u00e7t\u0131. Bu nedenledir ki eyl\u00fcl ay\u0131ndan itibaren k\u00fcresel piyasalar yeniden\u00a0toparland\u0131. 3 ayl\u0131k d\u00f6nemde yapt\u0131klar\u0131 a\u015f\u0131r\u0131 fiyatlamay\u0131 bu kez d\u00fczeltme yoluna gidiyorlar. Yukar\u0131daki\u00a0grafikte de g\u00f6r\u00fcld\u00fc\u011f\u00fc gibi, geli\u015fmekte olan piyasalardan sermaye \u00e7\u0131k\u0131\u015f\u0131 yaz ortalar\u0131nda h\u0131zlan\u0131rken,\u00a0eyl\u00fclden itibaren bu tablo tersine d\u00f6nd\u00fc. Sermaye giri\u015fleri olduk\u00e7a da h\u0131zl\u0131 ve grafik keskin bir \u015fekilde\u00a0bu nedenle yukar\u0131ya d\u00f6nd\u00fc. \u0130\u015fte FED b\u00f6yle bir ortamda karar\u0131n\u0131 verdi.<\/p>