{"id":58452,"date":"2019-07-14T14:08:14","date_gmt":"2019-07-14T11:08:14","guid":{"rendered":"https:\/\/www.bilgeyatirimci.com\/?p=58452"},"modified":"2019-07-14T13:43:48","modified_gmt":"2019-07-14T10:43:48","slug":"gozler-merkezde-3","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/gozler-merkezde-3\/","title":{"rendered":"G\u00f6zler Merkez&#8217;de"},"content":{"rendered":"<p>&#8211; wp:heading {&#8220;level&#8221;:4} &#8211;><\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-203495395\"><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<h4>Faiz indirim beklentileri g\u00fc\u00e7 kazand\u0131k\u00e7a d\u0131\u015f piyasalardaki iyimserlik de artt\u0131.<\/h4>\n<p>&#8211; \/wp:heading &#8211;><\/p>\n<p>&#8211; wp:paragraph &#8211;><\/p>\n<p>\u00d6yle ki ABD borsalar\u0131 (Dow Jones ve S&amp;P 500 Endeksleri) tarihi zirvelerini ge\u00e7ti. ABD Merkez Bankas\u0131 (Fed) Ba\u015fkan\u0131 Powell\u2019den gelen faiz indirimine vurgu yapan \u201cg\u00fcvercin\u201d tonda a\u00e7\u0131klamalar beklentileri kuvvetlendirdi. Fed tutanaklar\u0131nda da baz\u0131 \u00fcyeler ba\u015fkan\u0131 destekler g\u00f6r\u00fc\u015f verdiler. ABD Ba\u015fkan\u0131 Trump\u2019\u0131n \u201cekonomide rakamlar \u00e7ok iyi\u201d a\u00e7\u0131klamas\u0131n\u0131 da not etmek laz\u0131m. Enflasyon y\u00fckseli\u015fte, istihdam art\u0131\u015f\u0131 ve i\u015fsizlik oranlar\u0131 \u00e7ok iyi, ekonomik b\u00fcy\u00fcme g\u00fc\u00e7l\u00fc o zaman faiz indirimine ne gerek var, diye \u00e7ok hakl\u0131 bir soru akla geliyor. Bu noktada beklentiler devreye giriyor. Fed Ba\u015fkan\u0131 Powell, \u201cABD b\u00fcy\u00fcmesi 2. \u00e7eyrekte \u0131l\u0131ml\u0131 g\u00f6r\u00fcn\u00fcyor, son aylarda \u00f6nde gelen baz\u0131 yabanc\u0131 ekonomilerde ivme yava\u015flad\u0131. Zay\u0131f enflasyon riski Fed\u2019in mevcut beklentilerinden daha kal\u0131c\u0131 olabilir\u201d a\u00e7\u0131klamas\u0131n\u0131 dikkate almak gerekir.<\/p>\n<p>&#8211; \/wp:paragraph &#8211;><\/p>\n<p>&#8211; wp:heading {&#8220;level&#8221;:4} &#8211;><\/p>\n<h4>\u0130ND\u0130R\u0130M S\u0130NYAL\u0130<\/h4>\n<p>&#8211; \/wp:heading &#8211;><\/p>\n<p>&#8211; wp:paragraph &#8211;><\/p><div class=\"bilge-content-1\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1605567880\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"3167340272\"\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>Kayg\u0131n\u0131n mevcut g\u00f6r\u00fcn\u00fcm ile de\u011fil gelecekle ilgili oldu\u011fu anla\u015f\u0131l\u0131yor. Ayr\u0131ca parasal geni\u015fleme program\u0131 uygulayan Avrupa Merkez Bankas\u0131\u2019ndan yeni faiz indirimine ili\u015fkin s\u00f6ylemler geliyor. Bu i\u015f kur sava\u015flar\u0131na gider mi sorular\u0131 gelmeye ba\u015flad\u0131. 31 Temmuz Fed toplant\u0131s\u0131nda \u00e7eyrek puan da olsa bir faiz indirimi bekleniyor. D\u0131\u015f d\u00fcnyadaki faiz konusundaki bu geli\u015fmeler T\u00fcrkiye gibi finansman ihtiyac\u0131ndaki \u00fclkeler i\u00e7in \u00f6nemli ve olumlu. \u0130\u00e7 g\u00fcndeme d\u00f6nersek Rusya\u2019dan teslimat\u0131 fiilen ba\u015flayan S-400 f\u00fcze sistemlerine odakl\u0131 T\u00fcrkiye-ABD ili\u015fkileri ilk s\u0131rada. Bir di\u011feri Merkez Bankas\u0131 Ba\u015fkan de\u011fi\u015fikli\u011fi sonras\u0131 25 Temmuz\u2019da ne kadar faiz indirimi olaca\u011f\u0131 konusu var. Faiz konusunda tart\u0131\u015fmalar indirim olup olmayaca\u011f\u0131ndan \u00e7ok, ne oranda olaca\u011f\u0131na kaym\u0131\u015f durumda. Enflasyon ve Merkez Bankas\u0131 faiz oran\u0131 aras\u0131ndaki makas\u0131n olduk\u00e7a a\u00e7\u0131lmas\u0131, Fed ve Avrupa merkez bankalar\u0131n\u0131n faiz indirim s\u00f6ylemleriyle birlikte piyasalar zaten \u00c7etinkaya y\u00f6netiminden faiz indirimi bekliyordu. Bir puanl\u0131k indirim beklentileri ba\u015fkan de\u011fi\u015fikli\u011fiyle 2 ile 4 puana kadar y\u00fckseldi. Bakal\u0131m 25 Temmuz\u2019da sonu\u00e7lar\u0131 g\u00f6rece\u011fiz. Sert faiz indirimi olursa tahvil ve bonoda k\u00e2r sat\u0131\u015f\u0131 olas\u0131l\u0131\u011f\u0131n\u0131 dikkate almak gerekir.<\/p>\n<p>&#8211; \/wp:paragraph &#8211;><\/p>\n<p>&#8211; wp:heading {&#8220;level&#8221;:4} &#8211;><\/p>\n<h4>YABANCI ALIMDA<\/h4>\n<p>&#8211; \/wp:heading &#8211;><\/p><div class=\"bilge-content-2\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-3801972019\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"1818807385\"\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>&#8211; wp:paragraph &#8211;><\/p>\n<p>S-400 f\u00fcze sistemlerinin cuma g\u00fcn\u00fc teslimat\u0131n\u0131n ba\u015flamas\u0131, i\u00e7 piyasalar\u0131n d\u0131\u015far\u0131dan olumsuz ayr\u0131\u015fmas\u0131n\u0131 da beraberinde getirdi. Faiz indirim beklentisi S-400 olay\u0131na ra\u011fmen i\u00e7 piyasalar\u0131 ta\u015f\u0131yamad\u0131. ABD\u2019den hen\u00fcz bir sinyal yok, bu a\u015famada piyasalar ihtiyatl\u0131 davranmak ad\u0131na gard\u0131n\u0131 al\u0131yor g\u00f6r\u00fcnt\u00fcs\u00fc hakim. Ancak Japonya\u2019da G-20 toplant\u0131s\u0131ndaki Trump\u2019\u0131n s\u00f6ylemlerinin aksine ABD\u2019den farkl\u0131 bir tav\u0131r g\u00f6r\u00fcl\u00fcrse piyasalara olumsuz yans\u0131malar\u0131 s\u00fcrebilir. Bu durumda Merkez Bankas\u0131 faiz karar\u0131nda zorlanabilir. Ekonomideki yava\u015flamaya ba\u011fl\u0131 olarak may\u0131sta cari a\u00e7\u0131k y\u0131ll\u0131k bazda 2.3 milyar dolara kadar gerildi. \u00d6n\u00fcm\u00fczdeki aylarda fazlaya ge\u00e7me olas\u0131l\u0131\u011f\u0131 \u00e7ok y\u00fcksek. D\u0131\u015f a\u00e7\u0131ktaki d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131l\u0131k i\u00e7 a\u00e7\u0131k yani b\u00fct\u00e7e a\u00e7\u0131\u011f\u0131 y\u00fcksek seyrini koruyor. Bu \u00e7er\u00e7evede kamu zamlar\u0131 d\u0131\u015f\u0131nda Merkez Bankas\u0131 yedek ak\u00e7e konusundaki d\u00fczenlemeler devreye girmi\u015f g\u00f6r\u00fcl\u00fcyor. Ancak b\u00fct\u00e7e gelirlerinde en \u00f6nemli kalem vergi hatta KDV, \u00d6TV gibi dolayl\u0131 vergiler. Bu a\u00e7\u0131dan zay\u0131flayan ekonomik aktiviteye ivme kazand\u0131rmak i\u00e7in de faiz indirimi akla gelen ilk \u00f6nlemlerden biri olabilir. Alternatif piyasalar olmas\u0131 a\u00e7\u0131s\u0131ndan d\u00fc\u015f\u00fck faiz borsalar i\u00e7in olumlu bir referans. Yabanc\u0131 yat\u0131r\u0131mc\u0131lar Borsa \u0130stanbul\u2019da b\u00fcy\u00fck montanl\u0131 olmasa da son alt\u0131 haftad\u0131r al\u0131mdalar. Cuma ak\u015fam\u0131 Fitch\u2019ten gelen takvim d\u0131\u015f\u0131 ama s\u00fcrpriz olmayan not indiriminin piyasalar \u00fczerindeki etkisi s\u0131n\u0131rl\u0131 kalabilir. D\u0131\u015far\u0131ndan gelen iyimserlik dalgas\u0131na kar\u015f\u0131l\u0131k i\u00e7 g\u00fcndemin etkisiyle daha temkinli bir g\u00f6r\u00fcn\u00fcm \u00f6ne \u00e7\u0131kabilir.<\/p>\n<p>&#8211; \/wp:paragraph &#8211;><\/p>\n<p>&#8211; wp:paragraph &#8211;><\/p>\n<p><a href=\"http:\/\/bit.ly\/pb-borfin-temel-analiz-1\" rel=\"external nofollow noopener\" data-wpel-link=\"external\" target=\"_blank\"><span style=\"color: #3366ff;font-weight:bold;\">TEMEL ANAL\u0130Z \u0130LE NASIL H\u0130SSE SE\u00c7\u0130L\u0130R? UZMANINDAN HEMEN \u00d6\u011eRENMEYE BA\u015eLA!<\/span><\/a><\/p>\n<p>&#8211; \/wp:paragraph &#8211;><\/p>\n<p>&#8211; wp:heading {&#8220;level&#8221;:6} &#8211;><\/p>\n<h6>Yaz\u0131n\u0131n devam\u0131 i\u00e7in <a href=\"http:\/\/www.hurriyet.com.tr\/yazarlar\/zeynel-balci\/gozler-merkezde-41273222\" target=\"_blank\" rel=\"noreferrer noopener nofollow external\" aria-label=\"TIKLAYINIZ (yeni sekmede a\u00e7\u0131l\u0131r)\" data-wpel-link=\"external\">TIKLAYINIZ<\/a>.<\/h6>\n<p>&#8211; \/wp:heading &#8211;><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8211; wp:heading {&#8220;level&#8221;:4} &#8211;> Faiz indirim beklentileri g\u00fc\u00e7 kazand\u0131k\u00e7a d\u0131\u015f piyasalardaki iyimserlik de artt\u0131. &#8211; \/wp:heading &#8211;> &#8211; wp:paragraph &#8211;> \u00d6yle ki ABD borsalar\u0131 (Dow&hellip;<\/p>\n","protected":false},"author":3947,"featured_media":0,"comment_status":"open","ping_status":"closed","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":[808,801,2191],"class_list":["post-58452","post","type-post","status-publish","format-standard","hentry","category-tumyazilar","tag-ekonomi-makaleleri","tag-ekonomi-yazarlari-listesi","tag-zeynel-balci-yazilari"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/58452","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\/3947"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=58452"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/58452\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=58452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=58452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=58452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}