{"status":true,"post":{"id":12651,"user_id":23,"status":1,"type":1,"orde":null,"notification_type":3,"static_post":0,"published_at":"2022-10-21 09:18:28","created_at":"2015-09-20T21:00:00.000000Z","updated_at":"2022-10-21T06:18:28.000000Z","edited_at":"2024-12-17 22:35:21","source_id":null,"post_id":12651,"is_featured":0,"title":"Fed faiz art\u0131r\u0131rsa neler olabilir?","slider_title":null,"slider_title_2":null,"slider_spot_title":null,"slider_spot_title_2":null,"home_title":null,"sub_title":null,"category_id":73,"description":null,"content":" \t\t\t\t\t \t\t\t\t\t

Moody\u2019s, Fed\u2019in faiz art\u0131r\u0131m\u0131 y\u00f6n\u00fcnde bir karar \u00e7\u0131kmas\u0131 halinde bug\u00fcn ABD ekonomisinde toparlanman\u0131n g\u00fcc\u00fcn\u00fc g\u00f6sterece\u011fini, kan\u0131tlayaca\u011f\u0131n\u0131 ancak Fed\u2019in ataca\u011f\u0131 ad\u0131m\u0131n geli\u015fmekte olan piyasalara sermaye ak\u0131\u015f\u0131nda oynakl\u0131k yarataca\u011f\u0131n\u0131 vurgulad\u0131. <\/span><\/p>

Moody\u2019s yapt\u0131\u011f\u0131 de\u011ferlendirmede, Fed\u2019in ataca\u011f\u0131 ad\u0131m\u0131n di\u011fer geli\u015fmi\u015f ekonomilerde faizler veya para birimleri \u00fczerinde ciddi bir etki yaratmas\u0131n\u0131 beklemedi\u011fini, ABD\u2019de devlet bor\u00e7lanma maliyetlerinin kademeli \u015fekilde artaca\u011f\u0131n\u0131 ancak faizlerin tarihi ortalamalar\u0131n alt\u0131nda kalmas\u0131n\u0131 bekledi\u011fini ifade etti.<\/span><\/p>

Moody\u2019s Fed\u2019in ataca\u011f\u0131 ad\u0131m\u0131n baz\u0131 geli\u015fmekte olan piyasalarda, \u00f6zellikle de yabanc\u0131 yat\u0131r\u0131mc\u0131ya a\u015f\u0131r\u0131 ba\u011f\u0131ml\u0131 ekonomilerde, a\u015fa\u011f\u0131 y\u00f6nl\u00fc risklere katk\u0131 yapaca\u011f\u0131n\u0131, Fed\u2019in faiz art\u0131rmas\u0131 halinde en fazla risk alt\u0131ndaki \u00fclkeler olarak Brezilya, Rusya, G\u00fcney Afrika ve T\u00fcrkiye\u2019nin bulundu\u011funu, bu \u00fclkelerdeki yurti\u00e7i zorluklar\u0131n kura ve finansal piyasa istikrars\u0131zl\u0131\u011f\u0131na katk\u0131 yapt\u0131\u011f\u0131n\u0131 ve bu \u00fclkelerin d\u0131\u015f \u015foklara kar\u015f\u0131 tamponlar\u0131, b\u00fcy\u00fcmeyi korumaya y\u00f6nelik politika alanlar\u0131n\u0131n daha az g\u00fc\u00e7l\u00fc oldu\u011funu ifade etti. <\/span><\/p>

G\u00f6r\u00fcld\u00fc\u011f\u00fc gibi ABD faiz art\u0131r\u0131m\u0131nda T\u00fcrkiye en fazla riskli \u00fclkeler aras\u0131nda g\u00f6steriliyor. Yurt i\u00e7i zorluklar\u0131n d\u0131\u015f \u015foklara kar\u015f\u0131 tamponlar\u0131n\u0131n daha d\u00fc\u015f\u00fck olmas\u0131na yol a\u00e7t\u0131\u011f\u0131na dikkat \u00e7ekmi\u015f.<\/span><\/p>

A\u00e7\u0131klamada ilgimizi \u00e7eken as\u0131l konu geli\u015fmi\u015f \u00fclke paralar\u0131n\u0131n bundan fazla etkilenmeyece\u011fi d\u00fc\u015f\u00fcncesidir. Geli\u015fmi\u015f \u00fclke kur ve faizleri \u00fczerinde ciddi bir etki beklenmiyormu\u015f.<\/span><\/p>

Biz bu d\u00fc\u015f\u00fcnceye kesinlikle kat\u0131lm\u0131yoruz. \u00c7\u00fcnk\u00fc ABD ile ayn\u0131 ratinge sahip ayn\u0131 fonlar\u0131n cirit att\u0131\u011f\u0131 piyasalarda, faizlerde de\u011fi\u015fiklik oldu\u011funda para ayn\u0131 risk grubunda d\u00fc\u015f\u00fck faizli ekonomiden y\u00fcksek faizli ekonomiye do\u011fru akmaya ba\u015flar yani Euro B\u00f6lgesi\u2019nden ABD ekonomisine faiz arbitraj\u0131 i\u00e7in para gider. Bu nas\u0131l g\u00f6r\u00fclemiyor akl\u0131m\u0131z alm\u0131\u015f de\u011fil. Di\u011fer risk grubundaki \u00fclkelerde ise zaten farkl\u0131 bir getiri ve risk s\u00f6z konusu oldu\u011fundan do\u011frudan etkilenme s\u00f6z konusu olamaz. Ancak as\u0131l konu piyasalar\u0131n derinli\u011fi ve kontrol mekanizmalar\u0131n\u0131n iyi i\u015fleyip i\u015flemeyece\u011fidir.<\/span><\/p>

Yurt d\u0131\u015f\u0131ndaki oynakl\u0131\u011f\u0131 bahane eden baz\u0131 spek\u00fclat\u00f6rler bunu f\u0131rsat bilip yurt d\u0131\u015f\u0131na g\u00f6re son derece d\u00fc\u015f\u00fck i\u015flem hacmine sahip d\u00f6viz\/TL piyasalar\u0131nda manip\u00fclasyona varacak hareketler yapabilirler. Bu hareketlerin do\u011frudan Fed kaynakl\u0131 olamayaca\u011f\u0131 ancak Fed\u2019in bahane edilece\u011fini \u015fimdiden s\u00f6yleyebiliriz. Fed faizleri art\u0131rd\u0131\u011f\u0131nda T\u00fcrkiye\u2019deki yabanc\u0131 sermaye ben gidiyorum demez. \u00c7\u00fcnk\u00fc getiri ve riski farkl\u0131d\u0131r. Ama kurumlar duyars\u0131z kal\u0131rsa forex piyasalar\u0131nda birilerinin can\u0131n\u0131 yakarak para kazanmay\u0131 deneyebilirler. Bunun sonucunda da reel sekt\u00f6r de bundan nasibini al\u0131r. Bu f\u0131rsat\u0131n uluslararas\u0131 spek\u00fclat\u00f6rlere ne kadar tan\u0131n\u0131p tan\u0131nmayaca\u011f\u0131n\u0131 hep birlikte g\u00f6zlemleyece\u011fiz.<\/span><\/p>

Unutmamam\u0131z gereken \u015fey d\u00f6viz al\u0131m\u0131 i\u00e7in TL gerekece\u011fi bunun arz\u0131n\u0131n kontrol\u00fcn\u00fcn de TCMB yetkisinde oldu\u011fudur.<\/span><\/p>

SON S\u00d6Z:<\/strong> Fed faiz art\u0131r\u0131m\u0131 spek\u00fclat\u00f6r\u00fcn istedi\u011fi hareketi yapmas\u0131na bahane yaratabilece\u011finden k\u0131sa vadede d\u00f6viz y\u00fck\u00fcml\u00fcl\u00fcklerimizi uzun vade y\u00fck\u00fcml\u00fcl\u00fck haline \u00e7evirerek bilan\u00e7olar\u0131m\u0131z\u0131 daha g\u00fcvenilir hale getirmeliyiz.<\/span><\/p> \t\t\t\t","slug":"fed-faiz-artirirsa-neler-olabilir","tags":"K\u00f6\u015fe Yaz\u0131s\u0131","meta_title":"Fed faiz art\u0131r\u0131rsa neler olabilir?","meta_description":"Hikmet Baydar","meta_keywords":"K\u00f6\u015fe Yaz\u0131s\u0131","news_cover_min":null,"news_cover":null,"news_video_min":null,"news_video":null,"view_count":1077,"cropped_1200x675":null,"user":{"id":23,"name":"H\u0130KMET","surname":"BAYDAR","email":"hikmet-baydar@gmail.com","slug":"hikmet-baydar","avatar":"\/front\/uploads\/avatar\/1733691600m8IdzrjJsMVvSMC.webp","status":1,"role":1,"email_verified_at":null,"orde":null,"created_at":"2022-10-19T14:42:06.000000Z","updated_at":"2024-12-18T09:49:02.000000Z","seo_title":null,"seo_description":null},"translations":[{"id":12750,"is_featured":0,"is_amp":0,"is_ads":0,"ads_link":null,"post_id":12651,"locale":"tr","category_id":73,"title":"Fed faiz art\u0131r\u0131rsa neler olabilir?","home_title":null,"sub_title":null,"slider_title":null,"slider_title_2":null,"slider_spot_title":null,"slider_spot_title_2":null,"subtitleuse":0,"description":null,"content":" \t\t\t\t\t \t\t\t\t\t

Moody\u2019s, Fed\u2019in faiz art\u0131r\u0131m\u0131 y\u00f6n\u00fcnde bir karar \u00e7\u0131kmas\u0131 halinde bug\u00fcn ABD ekonomisinde toparlanman\u0131n g\u00fcc\u00fcn\u00fc g\u00f6sterece\u011fini, kan\u0131tlayaca\u011f\u0131n\u0131 ancak Fed\u2019in ataca\u011f\u0131 ad\u0131m\u0131n geli\u015fmekte olan piyasalara sermaye ak\u0131\u015f\u0131nda oynakl\u0131k yarataca\u011f\u0131n\u0131 vurgulad\u0131. <\/span><\/p>

Moody\u2019s yapt\u0131\u011f\u0131 de\u011ferlendirmede, Fed\u2019in ataca\u011f\u0131 ad\u0131m\u0131n di\u011fer geli\u015fmi\u015f ekonomilerde faizler veya para birimleri \u00fczerinde ciddi bir etki yaratmas\u0131n\u0131 beklemedi\u011fini, ABD\u2019de devlet bor\u00e7lanma maliyetlerinin kademeli \u015fekilde artaca\u011f\u0131n\u0131 ancak faizlerin tarihi ortalamalar\u0131n alt\u0131nda kalmas\u0131n\u0131 bekledi\u011fini ifade etti.<\/span><\/p>

Moody\u2019s Fed\u2019in ataca\u011f\u0131 ad\u0131m\u0131n baz\u0131 geli\u015fmekte olan piyasalarda, \u00f6zellikle de yabanc\u0131 yat\u0131r\u0131mc\u0131ya a\u015f\u0131r\u0131 ba\u011f\u0131ml\u0131 ekonomilerde, a\u015fa\u011f\u0131 y\u00f6nl\u00fc risklere katk\u0131 yapaca\u011f\u0131n\u0131, Fed\u2019in faiz art\u0131rmas\u0131 halinde en fazla risk alt\u0131ndaki \u00fclkeler olarak Brezilya, Rusya, G\u00fcney Afrika ve T\u00fcrkiye\u2019nin bulundu\u011funu, bu \u00fclkelerdeki yurti\u00e7i zorluklar\u0131n kura ve finansal piyasa istikrars\u0131zl\u0131\u011f\u0131na katk\u0131 yapt\u0131\u011f\u0131n\u0131 ve bu \u00fclkelerin d\u0131\u015f \u015foklara kar\u015f\u0131 tamponlar\u0131, b\u00fcy\u00fcmeyi korumaya y\u00f6nelik politika alanlar\u0131n\u0131n daha az g\u00fc\u00e7l\u00fc oldu\u011funu ifade etti. <\/span><\/p>

G\u00f6r\u00fcld\u00fc\u011f\u00fc gibi ABD faiz art\u0131r\u0131m\u0131nda T\u00fcrkiye en fazla riskli \u00fclkeler aras\u0131nda g\u00f6steriliyor. Yurt i\u00e7i zorluklar\u0131n d\u0131\u015f \u015foklara kar\u015f\u0131 tamponlar\u0131n\u0131n daha d\u00fc\u015f\u00fck olmas\u0131na yol a\u00e7t\u0131\u011f\u0131na dikkat \u00e7ekmi\u015f.<\/span><\/p>

A\u00e7\u0131klamada ilgimizi \u00e7eken as\u0131l konu geli\u015fmi\u015f \u00fclke paralar\u0131n\u0131n bundan fazla etkilenmeyece\u011fi d\u00fc\u015f\u00fcncesidir. Geli\u015fmi\u015f \u00fclke kur ve faizleri \u00fczerinde ciddi bir etki beklenmiyormu\u015f.<\/span><\/p>

Biz bu d\u00fc\u015f\u00fcnceye kesinlikle kat\u0131lm\u0131yoruz. \u00c7\u00fcnk\u00fc ABD ile ayn\u0131 ratinge sahip ayn\u0131 fonlar\u0131n cirit att\u0131\u011f\u0131 piyasalarda, faizlerde de\u011fi\u015fiklik oldu\u011funda para ayn\u0131 risk grubunda d\u00fc\u015f\u00fck faizli ekonomiden y\u00fcksek faizli ekonomiye do\u011fru akmaya ba\u015flar yani Euro B\u00f6lgesi\u2019nden ABD ekonomisine faiz arbitraj\u0131 i\u00e7in para gider. Bu nas\u0131l g\u00f6r\u00fclemiyor akl\u0131m\u0131z alm\u0131\u015f de\u011fil. Di\u011fer risk grubundaki \u00fclkelerde ise zaten farkl\u0131 bir getiri ve risk s\u00f6z konusu oldu\u011fundan do\u011frudan etkilenme s\u00f6z konusu olamaz. Ancak as\u0131l konu piyasalar\u0131n derinli\u011fi ve kontrol mekanizmalar\u0131n\u0131n iyi i\u015fleyip i\u015flemeyece\u011fidir.<\/span><\/p>

Yurt d\u0131\u015f\u0131ndaki oynakl\u0131\u011f\u0131 bahane eden baz\u0131 spek\u00fclat\u00f6rler bunu f\u0131rsat bilip yurt d\u0131\u015f\u0131na g\u00f6re son derece d\u00fc\u015f\u00fck i\u015flem hacmine sahip d\u00f6viz\/TL piyasalar\u0131nda manip\u00fclasyona varacak hareketler yapabilirler. Bu hareketlerin do\u011frudan Fed kaynakl\u0131 olamayaca\u011f\u0131 ancak Fed\u2019in bahane edilece\u011fini \u015fimdiden s\u00f6yleyebiliriz. Fed faizleri art\u0131rd\u0131\u011f\u0131nda T\u00fcrkiye\u2019deki yabanc\u0131 sermaye ben gidiyorum demez. \u00c7\u00fcnk\u00fc getiri ve riski farkl\u0131d\u0131r. Ama kurumlar duyars\u0131z kal\u0131rsa forex piyasalar\u0131nda birilerinin can\u0131n\u0131 yakarak para kazanmay\u0131 deneyebilirler. Bunun sonucunda da reel sekt\u00f6r de bundan nasibini al\u0131r. Bu f\u0131rsat\u0131n uluslararas\u0131 spek\u00fclat\u00f6rlere ne kadar tan\u0131n\u0131p tan\u0131nmayaca\u011f\u0131n\u0131 hep birlikte g\u00f6zlemleyece\u011fiz.<\/span><\/p>

Unutmamam\u0131z gereken \u015fey d\u00f6viz al\u0131m\u0131 i\u00e7in TL gerekece\u011fi bunun arz\u0131n\u0131n kontrol\u00fcn\u00fcn de TCMB yetkisinde oldu\u011fudur.<\/span><\/p>

SON S\u00d6Z:<\/strong> Fed faiz art\u0131r\u0131m\u0131 spek\u00fclat\u00f6r\u00fcn istedi\u011fi hareketi yapmas\u0131na bahane yaratabilece\u011finden k\u0131sa vadede d\u00f6viz y\u00fck\u00fcml\u00fcl\u00fcklerimizi uzun vade y\u00fck\u00fcml\u00fcl\u00fck haline \u00e7evirerek bilan\u00e7olar\u0131m\u0131z\u0131 daha g\u00fcvenilir hale getirmeliyiz.<\/span><\/p> \t\t\t\t","slug":"fed-faiz-artirirsa-neler-olabilir","orjinalimage":null,"news_cover_min":null,"news_cover":null,"news_video_min":null,"news_video":null,"cropped_638x552":null,"cropped_310x208":null,"cropped_416x247":null,"cropped_197x247":null,"cropped_416x600":null,"cropped_1200x675":null,"tags":"K\u00f6\u015fe Yaz\u0131s\u0131","meta_title":"Fed faiz art\u0131r\u0131rsa neler olabilir?","meta_description":"Hikmet Baydar","meta_keywords":"K\u00f6\u015fe Yaz\u0131s\u0131","view_count":1077,"yt":0,"ytid":"","ytimage":null,"imgdate":"2000-01-01 00:00:00","cuff_cover":null,"cropped_358x214":null,"cropped_842x474":null}]}}