{"status":true,"post":{"id":14735,"user_id":11,"status":1,"type":1,"orde":null,"notification_type":3,"static_post":0,"published_at":"2022-10-21 09:50:30","created_at":"2016-10-02T21:00:00.000000Z","updated_at":"2022-10-21T06:50:30.000000Z","edited_at":"2024-12-17 22:35:21","source_id":null,"post_id":14735,"is_featured":0,"title":"Not indirimine ra\u011fmen Hazine ihaleleri ba\u015far\u0131l\u0131","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<p><span class=\"large\">Hazine M\u00fcste\u015farl\u0131\u011f\u0131, Moody\u2019s derecelendirme not indirim karar\u0131n\u0131n hemen ard\u0131ndan ger\u00e7ekle\u015ftirdi\u011fi 5 ihale ile piyasadan 10.4 milyar lira bor\u00e7lan\u0131rken, ihalelere gelen yo\u011fun talep ve beklentilerin alt\u0131nda olu\u015fan maliyet oran\u0131 dikkati \u00e7ekti; yerli ve yabanc\u0131 yat\u0131r\u0131mc\u0131lar\u0131n Moody\u2019s\u2019in not indirimini dikkate almad\u0131klar\u0131n\u0131 g\u00f6sterdi. \u0130haleler esnas\u0131nda, rekabet\u00e7i olmayan teklifler dahil 19 milyar 554 milyon liral\u0131k talep geldi. Talepler ihale miktar\u0131n\u0131n 4 kat\u0131na kadar \u00e7\u0131kt\u0131. Haftan\u0131n ilk i\u015flem g\u00fcn\u00fcnde 10 y\u0131ll\u0131k g\u00f6sterge tahvilin bile\u015fik faizi y\u00fczde 10.01\u2019e kadar ula\u015f\u0131rken, yap\u0131lan 3 ihalede faiz oranlar\u0131 tek hanede kald\u0131. 10 y\u0131ll\u0131k g\u00f6sterge tahvilin bile\u015fik faizi de \u00e7ift hanenin alt\u0131na gerileyerek 9.80\u2019e kadar indi. Sal\u0131 g\u00fcnk\u00fc ihaleler \u00f6ncesinde ise y\u00fczde 9.84 seviyesinde olan uzun vadeli tahvilin bile\u015fik faizi ihaleler sonras\u0131 y\u00fczde 9.60\u2019a, 2 y\u0131ll\u0131k g\u00f6sterge tahvilin bile\u015fik faizi de y\u00fczde 8.99\u2019dan y\u00fczde 8.77\u2019ye geriledi. Yani, piyasalar Moody\u2019s\u2019in not indirimini de\u011fil, T\u00fcrk Ekonomi Y\u00f6netimi\u2019nin performans\u0131n\u0131 dikkate ald\u0131klar\u0131n\u0131 g\u00f6sterdiler.<\/span><\/p>  <p><span class=\"large\"><strong>MAKROEKONOM\u0130K G\u00d6STERGELER\u0130 SA\u011eLAM<\/strong><\/span><\/p>  <p><span class=\"large\">Pek \u00e7ok kesimden, hatta yabanc\u0131 finans profesyonellerinden dahi karar\u0131n spek\u00fclasyona a\u00e7\u0131k veya siyasi olabilece\u011fi y\u00f6n\u00fcnde itiraz ve ele\u015ftirilerin y\u00fckseldi\u011fi Moody\u2019s\u2019in karar\u0131na en \u00e7arp\u0131c\u0131 tespitlerden birini de Denizbank Genel M\u00fcd\u00fcr\u00fc Hakan Ate\u015f yapt\u0131. T\u00fcrkiye\u2019nin makro ekonomik dinamiklerinin sa\u011flam oldu\u011funu belirten Ate\u015f, \u201cAma b\u00fct\u00fcn bunlara ra\u011fmen kredi derecelendirme kurulu\u015flar\u0131na kendimizi bir t\u00fcrl\u00fc be\u011fendiremiyoruz. A\u011fz\u0131m\u0131zla ku\u015f tutmam\u0131z laz\u0131m herhalde\u201d dedi. Ba\u015fta ABD ve Avrupa olmak \u00fczere t\u00fcm d\u00fcnyada bir b\u00fcy\u00fcme sorunu oldu\u011funun alt\u0131n\u0131 \u00e7izen Ate\u015f, \u201cB\u00f6yle bir k\u00fcresel ortamda T\u00fcrkiye ekonomisi makroekonomik g\u00f6stergelerini sa\u011flam tutarak g\u00fcc\u00fcn\u00fc g\u00f6stermi\u015ftir\u201d diye konu\u015ftu. Moody\u2019s\u2019in not indirim karar\u0131n\u0131n ard\u0131ndan T\u00fcrkiye\u2019nin ileriye bakmas\u0131 gerekti\u011fini kaydeden Ate\u015f, yap\u0131sal reformlar\u0131n h\u0131zl\u0131 bir \u015fekilde devam etmesi gerekti\u011fini vurgulam\u0131\u015f.<\/span><\/p>  <p><span class=\"large\"><strong>SADECE KRED\u0130 NOTU BAZ ALINMAZ<\/strong><\/span><\/p>  <p><span class=\"large\">Moody\u2019s\u2019in s\u00fcrpriz not indirim karar\u0131n\u0131 erken buldu\u011funu s\u00f6yleyen TEB Genel M\u00fcd\u00fcr\u00fc \u00dcmit Leblebici ise olas\u0131 bir not indiriminin bir k\u0131sm\u0131n\u0131n daha \u00f6nceden fiyatlara yans\u0131t\u0131ld\u0131\u011f\u0131n\u0131 belirterek, birka\u00e7 g\u00fcnl\u00fck bir dalgalanma ya\u015fanabilece\u011fini; d\u0131\u015f yat\u0131r\u0131mc\u0131lar\u0131n sadece kredi notunu baz almad\u0131\u011f\u0131n\u0131n alt\u0131n\u0131 \u00e7izerek, \u201cYat\u0131r\u0131mc\u0131lar karar s\u00fcrecinde, \u00fclkenin stratejisine, yap\u0131lan reformlara ve i\u015flerin kalitesine bak\u0131yor. Biz kendimize d\u00fc\u015fenleri lay\u0131k\u0131yla yapt\u0131\u011f\u0131m\u0131z s\u00fcrece karardan \u00e7ok olumsuz etkilenece\u011fimizi d\u00fc\u015f\u00fcnm\u00fcyorum\u201d yorumunu payla\u015fm\u0131\u015f. \u201cKarar banka maliyetlerini etkilemez demek yanl\u0131\u015f olur\u201d diyen Leblebici, \u201cMaliyetler az da olsa etkilenecek. Bankalar\u0131n yurt d\u0131\u015f\u0131 bor\u00e7lanma maliyetleri 0.25-0.50 puan aral\u0131\u011f\u0131nda artacak\u201d diye de\u011ferlendirmesini payla\u015fm\u0131\u015f.<\/span><\/p>  <p><span class=\"large\"><strong>YABANCILAR DA MOODY\u2019S\u2019E TEPK\u0130L\u0130<\/strong><\/span><\/p>  <p><span class=\"large\">Nomura Stratejisti Timothy Ash, sosyal medya hesab\u0131ndan yapt\u0131\u011f\u0131 de\u011ferlendirmede, \u201cMoody\u2019s\u2019in karar\u0131 bana g\u00f6re hi\u00e7 de adil de\u011fil\u201d yorumunda bulundu. T\u00fcrkiye\u2019nin makro verilerde ya da \u00f6demelerde bozulma i\u00e7ermeyen son derece uzun bir sicili oldu\u011funun alt\u0131n\u0131 \u00e7izen Ash, \u201cMoody\u2019s\u2019in karar\u0131 s\u00fcbjektif\u201d dedi. Ash, \u201cT\u00fcrkiye\u2019nin uzun bir bor\u00e7lar\u0131n\u0131 \u00f6deme ge\u00e7mi\u015fi var ve kredi notu yat\u0131r\u0131m yap\u0131labilir seviyeye y\u00fckseltildi\u011finden beri ana makro oranlar\u0131nda \u00f6nemli bir k\u00f6t\u00fcle\u015fme yok. Moody\u2019s\u2019in karar\u0131 olduk\u00e7a s\u00fcbjektif\u201d ifadelerini kulland\u0131. Moody\u2019s\u2019in karar\u0131n\u0131n ard\u0131ndan h\u00fck\u00fcmetin verece\u011fi tepkinin \u00f6nemli oldu\u011funu belirten Ash, \u201cH\u00fck\u00fcmet yetkilileri kredi derecelendirme kurulu\u015flar\u0131n\u0131 yerden yere vurmaktansa olgun davranarak reformlara odaklanmal\u0131\u201d yorumunda bulundu. Ash, Moody\u2019s\u2019in karar almak i\u00e7in Ekim\u2019e kadar beklememesine \u015fa\u015f\u0131rd\u0131\u011f\u0131n\u0131 belirtirken, \u201cAma san\u0131r\u0131m, ba\u015far\u0131s\u0131z darbe giri\u015fimi ve kamudaki temizli\u011fin kurumsal sa\u011flaml\u0131\u011f\u0131 zay\u0131flatt\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnd\u00fcler\u201d dedi.<\/span><\/p>  <p><span class=\"large\">Ash, T\u00fcrkiye\u2019nin baz\u0131 y\u00f6nleriyle not indirimini bertaraf etmek i\u00e7in yeterli oldu\u011funu, karar\u0131n piyasalar a\u00e7\u0131s\u0131ndan belirsizli\u011fi ortadan kald\u0131rd\u0131\u011f\u0131n\u0131 kaydederken, Rusya, H\u0131rvatistan ve Brezilya\u2019n\u0131n T\u00fcrkiye\u2019yle benzer kredi notu seviyesinde oldu\u011funu da hat\u0131rlatm\u0131\u015f.<\/span><\/p>  \t\t\t\t","slug":"not-indirimine-ragmen-hazine-ihaleleri-basarili","tags":"K\u00f6\u015fe Yaz\u0131s\u0131","meta_title":"Not indirimine ra\u011fmen Hazine ihaleleri ba\u015far\u0131l\u0131","meta_description":"Prof. Dr. Kerem Alkin","meta_keywords":"K\u00f6\u015fe Yaz\u0131s\u0131","news_cover_min":null,"news_cover":null,"news_video_min":null,"news_video":null,"view_count":104,"cropped_1200x675":null,"user":{"id":11,"name":"KEREM","surname":"ALK\u0130N","email":"irem05@daglaroglu.com","slug":"prof-dr-kerem-alkin","avatar":"\/front\/uploads\/avatar\/17336916000GNrERW0ucj2Ja7.webp","status":1,"role":1,"email_verified_at":null,"orde":null,"created_at":"2022-09-15T09:39:41.000000Z","updated_at":"2024-12-18T09:50:43.000000Z","seo_title":null,"seo_description":null},"translations":[{"id":14834,"is_featured":0,"is_amp":0,"is_ads":0,"ads_link":null,"post_id":14735,"locale":"tr","category_id":73,"title":"Not indirimine ra\u011fmen Hazine ihaleleri ba\u015far\u0131l\u0131","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<p><span class=\"large\">Hazine M\u00fcste\u015farl\u0131\u011f\u0131, Moody\u2019s derecelendirme not indirim karar\u0131n\u0131n hemen ard\u0131ndan ger\u00e7ekle\u015ftirdi\u011fi 5 ihale ile piyasadan 10.4 milyar lira bor\u00e7lan\u0131rken, ihalelere gelen yo\u011fun talep ve beklentilerin alt\u0131nda olu\u015fan maliyet oran\u0131 dikkati \u00e7ekti; yerli ve yabanc\u0131 yat\u0131r\u0131mc\u0131lar\u0131n Moody\u2019s\u2019in not indirimini dikkate almad\u0131klar\u0131n\u0131 g\u00f6sterdi. \u0130haleler esnas\u0131nda, rekabet\u00e7i olmayan teklifler dahil 19 milyar 554 milyon liral\u0131k talep geldi. Talepler ihale miktar\u0131n\u0131n 4 kat\u0131na kadar \u00e7\u0131kt\u0131. Haftan\u0131n ilk i\u015flem g\u00fcn\u00fcnde 10 y\u0131ll\u0131k g\u00f6sterge tahvilin bile\u015fik faizi y\u00fczde 10.01\u2019e kadar ula\u015f\u0131rken, yap\u0131lan 3 ihalede faiz oranlar\u0131 tek hanede kald\u0131. 10 y\u0131ll\u0131k g\u00f6sterge tahvilin bile\u015fik faizi de \u00e7ift hanenin alt\u0131na gerileyerek 9.80\u2019e kadar indi. Sal\u0131 g\u00fcnk\u00fc ihaleler \u00f6ncesinde ise y\u00fczde 9.84 seviyesinde olan uzun vadeli tahvilin bile\u015fik faizi ihaleler sonras\u0131 y\u00fczde 9.60\u2019a, 2 y\u0131ll\u0131k g\u00f6sterge tahvilin bile\u015fik faizi de y\u00fczde 8.99\u2019dan y\u00fczde 8.77\u2019ye geriledi. Yani, piyasalar Moody\u2019s\u2019in not indirimini de\u011fil, T\u00fcrk Ekonomi Y\u00f6netimi\u2019nin performans\u0131n\u0131 dikkate ald\u0131klar\u0131n\u0131 g\u00f6sterdiler.<\/span><\/p>  <p><span class=\"large\"><strong>MAKROEKONOM\u0130K G\u00d6STERGELER\u0130 SA\u011eLAM<\/strong><\/span><\/p>  <p><span class=\"large\">Pek \u00e7ok kesimden, hatta yabanc\u0131 finans profesyonellerinden dahi karar\u0131n spek\u00fclasyona a\u00e7\u0131k veya siyasi olabilece\u011fi y\u00f6n\u00fcnde itiraz ve ele\u015ftirilerin y\u00fckseldi\u011fi Moody\u2019s\u2019in karar\u0131na en \u00e7arp\u0131c\u0131 tespitlerden birini de Denizbank Genel M\u00fcd\u00fcr\u00fc Hakan Ate\u015f yapt\u0131. T\u00fcrkiye\u2019nin makro ekonomik dinamiklerinin sa\u011flam oldu\u011funu belirten Ate\u015f, \u201cAma b\u00fct\u00fcn bunlara ra\u011fmen kredi derecelendirme kurulu\u015flar\u0131na kendimizi bir t\u00fcrl\u00fc be\u011fendiremiyoruz. A\u011fz\u0131m\u0131zla ku\u015f tutmam\u0131z laz\u0131m herhalde\u201d dedi. Ba\u015fta ABD ve Avrupa olmak \u00fczere t\u00fcm d\u00fcnyada bir b\u00fcy\u00fcme sorunu oldu\u011funun alt\u0131n\u0131 \u00e7izen Ate\u015f, \u201cB\u00f6yle bir k\u00fcresel ortamda T\u00fcrkiye ekonomisi makroekonomik g\u00f6stergelerini sa\u011flam tutarak g\u00fcc\u00fcn\u00fc g\u00f6stermi\u015ftir\u201d diye konu\u015ftu. Moody\u2019s\u2019in not indirim karar\u0131n\u0131n ard\u0131ndan T\u00fcrkiye\u2019nin ileriye bakmas\u0131 gerekti\u011fini kaydeden Ate\u015f, yap\u0131sal reformlar\u0131n h\u0131zl\u0131 bir \u015fekilde devam etmesi gerekti\u011fini vurgulam\u0131\u015f.<\/span><\/p>  <p><span class=\"large\"><strong>SADECE KRED\u0130 NOTU BAZ ALINMAZ<\/strong><\/span><\/p>  <p><span class=\"large\">Moody\u2019s\u2019in s\u00fcrpriz not indirim karar\u0131n\u0131 erken buldu\u011funu s\u00f6yleyen TEB Genel M\u00fcd\u00fcr\u00fc \u00dcmit Leblebici ise olas\u0131 bir not indiriminin bir k\u0131sm\u0131n\u0131n daha \u00f6nceden fiyatlara yans\u0131t\u0131ld\u0131\u011f\u0131n\u0131 belirterek, birka\u00e7 g\u00fcnl\u00fck bir dalgalanma ya\u015fanabilece\u011fini; d\u0131\u015f yat\u0131r\u0131mc\u0131lar\u0131n sadece kredi notunu baz almad\u0131\u011f\u0131n\u0131n alt\u0131n\u0131 \u00e7izerek, \u201cYat\u0131r\u0131mc\u0131lar karar s\u00fcrecinde, \u00fclkenin stratejisine, yap\u0131lan reformlara ve i\u015flerin kalitesine bak\u0131yor. Biz kendimize d\u00fc\u015fenleri lay\u0131k\u0131yla yapt\u0131\u011f\u0131m\u0131z s\u00fcrece karardan \u00e7ok olumsuz etkilenece\u011fimizi d\u00fc\u015f\u00fcnm\u00fcyorum\u201d yorumunu payla\u015fm\u0131\u015f. \u201cKarar banka maliyetlerini etkilemez demek yanl\u0131\u015f olur\u201d diyen Leblebici, \u201cMaliyetler az da olsa etkilenecek. Bankalar\u0131n yurt d\u0131\u015f\u0131 bor\u00e7lanma maliyetleri 0.25-0.50 puan aral\u0131\u011f\u0131nda artacak\u201d diye de\u011ferlendirmesini payla\u015fm\u0131\u015f.<\/span><\/p>  <p><span class=\"large\"><strong>YABANCILAR DA MOODY\u2019S\u2019E TEPK\u0130L\u0130<\/strong><\/span><\/p>  <p><span class=\"large\">Nomura Stratejisti Timothy Ash, sosyal medya hesab\u0131ndan yapt\u0131\u011f\u0131 de\u011ferlendirmede, \u201cMoody\u2019s\u2019in karar\u0131 bana g\u00f6re hi\u00e7 de adil de\u011fil\u201d yorumunda bulundu. T\u00fcrkiye\u2019nin makro verilerde ya da \u00f6demelerde bozulma i\u00e7ermeyen son derece uzun bir sicili oldu\u011funun alt\u0131n\u0131 \u00e7izen Ash, \u201cMoody\u2019s\u2019in karar\u0131 s\u00fcbjektif\u201d dedi. Ash, \u201cT\u00fcrkiye\u2019nin uzun bir bor\u00e7lar\u0131n\u0131 \u00f6deme ge\u00e7mi\u015fi var ve kredi notu yat\u0131r\u0131m yap\u0131labilir seviyeye y\u00fckseltildi\u011finden beri ana makro oranlar\u0131nda \u00f6nemli bir k\u00f6t\u00fcle\u015fme yok. Moody\u2019s\u2019in karar\u0131 olduk\u00e7a s\u00fcbjektif\u201d ifadelerini kulland\u0131. Moody\u2019s\u2019in karar\u0131n\u0131n ard\u0131ndan h\u00fck\u00fcmetin verece\u011fi tepkinin \u00f6nemli oldu\u011funu belirten Ash, \u201cH\u00fck\u00fcmet yetkilileri kredi derecelendirme kurulu\u015flar\u0131n\u0131 yerden yere vurmaktansa olgun davranarak reformlara odaklanmal\u0131\u201d yorumunda bulundu. Ash, Moody\u2019s\u2019in karar almak i\u00e7in Ekim\u2019e kadar beklememesine \u015fa\u015f\u0131rd\u0131\u011f\u0131n\u0131 belirtirken, \u201cAma san\u0131r\u0131m, ba\u015far\u0131s\u0131z darbe giri\u015fimi ve kamudaki temizli\u011fin kurumsal sa\u011flaml\u0131\u011f\u0131 zay\u0131flatt\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnd\u00fcler\u201d dedi.<\/span><\/p>  <p><span class=\"large\">Ash, T\u00fcrkiye\u2019nin baz\u0131 y\u00f6nleriyle not indirimini bertaraf etmek i\u00e7in yeterli oldu\u011funu, karar\u0131n piyasalar a\u00e7\u0131s\u0131ndan belirsizli\u011fi ortadan kald\u0131rd\u0131\u011f\u0131n\u0131 kaydederken, Rusya, H\u0131rvatistan ve Brezilya\u2019n\u0131n T\u00fcrkiye\u2019yle benzer kredi notu seviyesinde oldu\u011funu da hat\u0131rlatm\u0131\u015f.<\/span><\/p>  \t\t\t\t","slug":"not-indirimine-ragmen-hazine-ihaleleri-basarili","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":"Not indirimine ra\u011fmen Hazine ihaleleri ba\u015far\u0131l\u0131","meta_description":"Prof. Dr. Kerem Alkin","meta_keywords":"K\u00f6\u015fe Yaz\u0131s\u0131","view_count":104,"yt":0,"ytid":"","ytimage":null,"imgdate":"2000-01-01 00:00:00","cuff_cover":null,"cropped_358x214":null,"cropped_842x474":null}]}}