{"id":15377,"date":"2026-09-06T14:15:00","date_gmt":"2026-09-06T11:15:00","guid":{"rendered":"https:\/\/fxknews.com\/?p=15377"},"modified":"2026-09-06T14:15:11","modified_gmt":"2026-09-06T11:15:11","slug":"tahvil-getirileri-on-yillarin-zirvesinde-piyasalarin-zemini-degisiyor","status":"publish","type":"post","link":"https:\/\/fxknews.com\/?p=15377","title":{"rendered":"Tahvil Getirileri On Y\u0131llar\u0131n Zirvesinde: Piyasalar\u0131n Zemini De\u011fi\u015fiyor"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>ABD&#8217;den Japonya&#8217;ya, \u0130ngiltere&#8217;den Fransa&#8217;ya kadar devlet tahvili getirileri on y\u0131llar\u0131n en y\u00fcksek seviyelerinde. Bu art\u0131k tek ba\u015f\u0131na bir faiz haberi de\u011fil; hisse senedinin, alt\u0131n\u0131n ve kripto varl\u0131klar\u0131n fiyatland\u0131\u011f\u0131 zeminin yer de\u011fi\u015ftirmesi anlam\u0131na geliyor.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87_1 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">\u0130\u00e7indekiler<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/fxknews.com\/?p=15377\/#Nerede_Duruyoruz_%E2%80%94_4_Eylul_Kapanisi\" >Nerede Duruyoruz \u2014 4 Eyl\u00fcl Kapan\u0131\u015f\u0131<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/fxknews.com\/?p=15377\/#Neden_Yukseliyor\" >Neden Y\u00fckseliyor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/fxknews.com\/?p=15377\/#Varlik_Siniflarina_Etkisi\" >Varl\u0131k S\u0131n\u0131flar\u0131na Etkisi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/fxknews.com\/?p=15377\/#Asil_Risk_Ne\" >As\u0131l Risk Ne?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/fxknews.com\/?p=15377\/#Bu_Hafta_Izlenecekler\" >Bu Hafta \u0130zlenecekler<\/a><\/li><\/ul><\/nav><\/div>\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nerede_Duruyoruz_%E2%80%94_4_Eylul_Kapanisi\"><\/span>Nerede Duruyoruz \u2014 4 Eyl\u00fcl Kapan\u0131\u015f\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>ABD:<\/strong> 10 y\u0131ll\u0131k Hazine getirisi haftay\u0131 %4,78&#8217;den kapatt\u0131. Hafta i\u00e7inde 4,812&#8217;yi g\u00f6rerek Kas\u0131m 2023&#8217;ten bu yana en y\u00fcksek seviyeye \u00e7\u0131kt\u0131; 52 haftal\u0131k zirve 4,818. K\u0131sa vadede 2 y\u0131ll\u0131k %4,37, uzun vadede 20 y\u0131ll\u0131k %5,25 seviyesinde. 30 y\u0131ll\u0131k getiri ise %5 psikolojik e\u015fi\u011fine dayand\u0131. 10 y\u0131ll\u0131k getiri son bir ayda 17, son bir y\u0131lda 71 baz puan y\u00fckseldi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u0130ngiltere:<\/strong> 10 y\u0131ll\u0131k gilt %5,13&#8217;ten kapand\u0131; hafta i\u00e7i zirve %5,29 ile A\u011fustos 2007&#8217;den bu yana en y\u00fcksek seviyeydi. 30 y\u0131ll\u0131k gilt %5,78&#8217;de, hafta i\u00e7inde g\u00f6rd\u00fc\u011f\u00fc %5,89 May\u0131s 1998&#8217;den bu yana en y\u00fcksek d\u00fczey. Piyasa, Merkez Bankas\u0131&#8217;ndan y\u0131l sonuna kadar neredeyse iki faiz art\u0131r\u0131m\u0131 fiyatl\u0131yor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Avro B\u00f6lgesi:<\/strong> Alman 10 y\u0131ll\u0131\u011f\u0131 %3,34; hafta i\u00e7inde g\u00f6rd\u00fc\u011f\u00fc %3,39 ile 2011&#8217;den bu yana en y\u00fcksek seviyeye \u00e7\u0131kt\u0131, 30 y\u0131ll\u0131k Bund %3,84&#8217;\u00fcn \u00fczerine t\u0131rmand\u0131. Frans\u0131z 10 y\u0131ll\u0131k OAT %4,19 \u2014 hafta i\u00e7i %4,21&#8217;i a\u015farak Kas\u0131m 2008&#8217;den beri en y\u00fckse\u011fini test etti, 30 y\u0131ll\u0131k ilk kez 2009&#8217;dan bu yana %4,5&#8217;e \u00e7\u0131kt\u0131. OAT\u2013Bund makas\u0131 84,7 baz puan. \u0130talya %4,15, Yunanistan %4,00, \u0130spanya %3,77.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Japonya:<\/strong> 10 y\u0131ll\u0131k JGB %2,91&#8217;den kapand\u0131, ancak 2 Eyl\u00fcl&#8217;de %3,027 ile 1996&#8217;dan bu yana ilk kez %3 s\u0131n\u0131r\u0131n\u0131 a\u015ft\u0131. 30 y\u0131ll\u0131k %3,97; 3 Eyl\u00fcl&#8217;de g\u00f6r\u00fclen %4,155, bu vadenin 1999&#8217;da ihdas edilmesinden bu yana en y\u00fcksek seviye. 40 y\u0131ll\u0131k %4,04, 2 y\u0131ll\u0131k %1,83.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Toplu g\u00f6r\u00fcnt\u00fc:<\/strong> Bloomberg&#8217;in k\u00fcresel devlet tahvili getiri endeksi %3,72 ile 2008 ortas\u0131ndan bu yana en y\u00fcksek d\u00fczeyde. OECD verisine g\u00f6re yakla\u015f\u0131k 109 trilyon dolarl\u0131k k\u00fcresel tahvil piyasas\u0131nda h\u00fck\u00fcmetler ve \u015firketler 2026&#8217;da rekor 29 trilyon dolar bor\u00e7lanacak.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Neden_Yukseliyor\"><\/span>Neden Y\u00fckseliyor<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Enerji kaynakl\u0131 enflasyon geri d\u00f6nd\u00fc.<\/strong> ABD\u2013\u0130ran \u00e7at\u0131\u015fmas\u0131 ve H\u00fcrm\u00fcz Bo\u011faz\u0131&#8217;ndaki kilitlenme petrol\u00fc yukar\u0131 ta\u015f\u0131d\u0131; Brent haftay\u0131 96,28 dolardan, WTI 91,48 dolardan kapatt\u0131. Petroldeki y\u00fckseli\u015f ve akaryak\u0131t fiyatlar\u0131ndaki daha sert art\u0131\u015f, d\u00fcnya genelinde hem enflasyonu hem devlet bor\u00e7lanma maliyetlerini yukar\u0131 itiyor. ABD&#8217;de ortalama motorin fiyat\u0131 rekor seviyeye \u00e7\u0131kt\u0131.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mali g\u00f6r\u00fcn\u00fcm bozuluyor.<\/strong> ABD&#8217;nin bor\u00e7 y\u00fck\u00fc 40 trilyon dolar\u0131 a\u015ft\u0131; G7 \u00fclkelerinin bor\u00e7\/GSYH oran\u0131 Almanya hari\u00e7 %100&#8217;\u00fcn \u00fczerinde. 2026 mali y\u0131l\u0131 federal a\u00e7\u0131\u011f\u0131 yakla\u015f\u0131k 1,9 trilyon dolar \u00f6ng\u00f6r\u00fcl\u00fcyor. Japonya&#8217;da Ba\u015fbakan Sanae Takaichi&#8217;nin geni\u015flemeci mali g\u00fcndemi ve bakanl\u0131klar\u0131n rekor b\u00fct\u00e7e talepleri getirileri yukar\u0131 itiyor; \u0130ngiltere&#8217;de y\u00fckselen bor\u00e7lanma maliyeti, Maliye Bakan\u0131 Rachel Reeves \u00fczerinde kas\u0131m b\u00fct\u00e7esinde harcama kesintisi ya da vergi art\u0131\u015f\u0131 bask\u0131s\u0131n\u0131 art\u0131r\u0131yor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Merkez bankas\u0131 fiyatlamas\u0131 y\u00f6n de\u011fi\u015ftirdi.<\/strong> Piyasa art\u0131k indirim de\u011fil, ek s\u0131k\u0131la\u015fma ihtimalini fiyatl\u0131yor. A\u011fustos tar\u0131m d\u0131\u015f\u0131 istihdam\u0131n 55 bin beklentiye kar\u015f\u0131l\u0131k 162 bin gelmesi ve \u00f6nceki iki ay\u0131n yukar\u0131 revize edilmesi, eyl\u00fclde faiz art\u0131r\u0131m\u0131 ihtimalini g\u00fc\u00e7lendirdi; vadeli piyasada bu ihtimal hafta boyunca %57&#8217;den %58&#8217;e \u00e7\u0131kt\u0131. Fed Ba\u015fkan\u0131 Kevin Warsh&#8217;\u0131n enflasyonu kontrol alt\u0131na alma taahh\u00fcd\u00fcn\u00fc yinelemesi sat\u0131\u015f\u0131 h\u0131zland\u0131r\u0131rken, Guvern\u00f6r Christopher Waller a\u011fustos verisi ilerlemeyi teyit ederse faizin sabit tutulmas\u0131n\u0131 destekleyece\u011fini s\u00f6yledi. Japonya&#8217;da politika faizi %1 seviyesinde ve piyasa terminal faizi %1,5&#8217;ten %1,75 veya \u00fczerine revize ediyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Sermaye i\u00e7in rekabet sertle\u015fti.<\/strong> Yapay zek\u00e2 altyap\u0131s\u0131 i\u00e7in yap\u0131lan bor\u00e7lanma, k\u00fcresel \u015firket tahvili ihrac\u0131n\u0131 2026&#8217;da rekor 4,9 trilyon dolara ta\u015f\u0131d\u0131 \u2014 ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %14 art\u0131\u015f. Veri merkezi, \u00e7ip ve enerji finansman\u0131, devlet ihra\u00e7lar\u0131yla ayn\u0131 yat\u0131r\u0131mc\u0131 havuzundan pay istiyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Yap\u0131sal enflasyon tezi g\u00fc\u00e7leniyor.<\/strong> Yat\u0131r\u0131mc\u0131lar k\u00fcreselle\u015fmeden korumac\u0131l\u0131\u011fa ge\u00e7i\u015fi, g\u00fcmr\u00fck tarifelerini, \u00fcretimin \u00fclkeye geri ta\u015f\u0131nmas\u0131n\u0131 ve artan savunma harcamalar\u0131n\u0131, enflasyonun 2010&#8217;lu y\u0131llara k\u0131yasla kal\u0131c\u0131 bi\u00e7imde y\u00fcksek kalaca\u011f\u0131n\u0131n i\u015fareti say\u0131yor. Bu, vade primi talebini yap\u0131sal olarak yukar\u0131 ta\u015f\u0131yan bir de\u011fi\u015fim.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Varlik_Siniflarina_Etkisi\"><\/span>Varl\u0131k S\u0131n\u0131flar\u0131na Etkisi<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Hisse senetleri.<\/strong> Y\u00fcksek getiri, gelecekteki k\u00e2rlar\u0131n bug\u00fcnk\u00fc de\u011ferini d\u00fc\u015f\u00fcr\u00fcr ve en \u00e7ok nakit ak\u0131\u015f\u0131 uzak gelece\u011fe yay\u0131lan b\u00fcy\u00fcme hisselerini vurur. Cuma g\u00fcn\u00fc S&amp;P 500 %0,38 kay\u0131pla 7.718,60, Dow %0,51 d\u00fc\u015f\u00fc\u015fle 53.414,25, Nasdaq %0,29 gerileyerek 26.506,99 seviyesinden kapand\u0131. Buna kar\u015f\u0131n haftal\u0131k bazda S&amp;P 500 %0,1, Nasdaq %0,4 primli kapatt\u0131; Dow %0,3 geriledi. Y\u0131lba\u015f\u0131ndan bu yana Nasdaq yakla\u015f\u0131k %14, S&amp;P 500 %13, Dow %11 y\u00fckselmi\u015f durumda. Ay\u0131n ilk g\u00fcn\u00fcnde ya\u015fanan sert sat\u0131\u015f \u2014 Dow&#8217;da 419 puan, Nasdaq&#8217;ta %1,03 \u2014 hisse taraf\u0131n\u0131n tahvil hareketine ne kadar duyarl\u0131 oldu\u011funu g\u00f6stermi\u015fti.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Alt\u0131n.<\/strong> Y\u00fcksek reel faiz, faiz getirmeyen varl\u0131\u011f\u0131 tutman\u0131n maliyetini art\u0131r\u0131r. Nitekim ons alt\u0131n 4 Eyl\u00fcl&#8217;de 4.432 dolara geriledi ve 28 Ocak&#8217;ta g\u00f6r\u00fclen 5.589 dolarl\u0131k rekorun yakla\u015f\u0131k %21 alt\u0131nda bulunuyor. Ancak resim tek y\u00f6nl\u00fc de\u011fil: metal bir y\u0131l \u00f6ncesine g\u00f6re h\u00e2l\u00e2 %23 daha pahal\u0131 ve son bir ayda %4,4 de\u011fer kazand\u0131. Jeopolitik risk ile mali g\u00fcvensizlik alt\u0131n\u0131 al\u0131rken, getiri rekabeti sat\u0131yor \u2014 fiyat bu iki g\u00fcc\u00fcn aras\u0131nda s\u0131k\u0131\u015fm\u0131\u015f durumda.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Dolar ve yen.<\/strong> Dolar\/yen 156,26&#8217;dan kapand\u0131. Kur, 1 Eyl\u00fcl&#8217;deki 160 seviyesinden 3 Eyl\u00fcl&#8217;de 155,80&#8217;e kadar sert bi\u00e7imde geriledi; yen hafta genelinde yakla\u015f\u0131k %2,4 de\u011fer kazand\u0131. Bu hareketin arkas\u0131nda JGB getirilerindeki y\u00fckseli\u015f ve BOJ&#8217;dan eyl\u00fclde faiz art\u0131r\u0131m\u0131 beklentisi kadar, ABD Hazine Bakan\u0131 Scott Bessent&#8217;\u0131n a\u00e7\u0131k bask\u0131s\u0131 da var: Bessent, Japon h\u00fck\u00fcmeti ile BOJ&#8217;un yeni g\u00fc\u00e7lendirecek ad\u0131mlar ataca\u011f\u0131 beklentisini dile getirdi ve Tokyo&#8217;ya mali s\u00fcrd\u00fcr\u00fclebilirlik ile faiz art\u0131r\u0131m\u0131 konusunda net bir yol haritas\u0131 \u00e7izmesi gerekti\u011fini iletti. EUR\/USD ise 1,1614 seviyesinde.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Kripto varl\u0131klar.<\/strong> Kripto bu d\u00f6ng\u00fcde makro bir varl\u0131k gibi davran\u0131yor. Bitcoin 6 Eyl\u00fcl itibar\u0131yla 79.900 dolar civar\u0131nda, piyasa de\u011feri 1,60 trilyon dolar; son 24 saatteki i\u015flem aral\u0131\u011f\u0131 79.459\u201380.147 dolar. Haftal\u0131k bazda yakla\u015f\u0131k %2,2 primli, ayl\u0131k bazda ise %24 y\u00fckseli\u015fte \u2014 a\u011fustostaki %25&#8217;lik kazan\u00e7 2017&#8217;den bu yana en iyi ayl\u0131k performanst\u0131. Ekim 2025&#8217;te g\u00f6r\u00fclen 126.080 dolarl\u0131k zirvenin ise h\u00e2l\u00e2 %37 alt\u0131nda. Korelasyon \u00e7ok net: getiriler gerileyip Fed endi\u015fesi hafifledi\u011finde 3 Eyl\u00fcl&#8217;de %5&#8217;ten fazla y\u00fckselerek 81.000 dolar\u0131 a\u015ft\u0131, a\u011fustos istihdam\u0131 beklentiyi a\u015f\u0131nca 80.000&#8217;in alt\u0131na sarkt\u0131. Teknik tarafta 75.000\u201376.500 b\u00f6lgesi \u00f6nemli destek, 81.000\u201386.000 aral\u0131\u011f\u0131 geni\u015f bir diren\u00e7 band\u0131. Glassnode analisti Frederik Theissen piyasay\u0131 yatay tan\u0131ml\u0131yor ve ilerisi i\u00e7in ana risk unsuru olarak y\u00fckselen tahvil getirilerini i\u015faret ediyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Asil_Risk_Ne\"><\/span>As\u0131l Risk Ne?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Tehlike getirilerin <strong>seviyesi<\/strong> de\u011fil, y\u00fckseli\u015fin <strong>nedeni<\/strong>. G\u00fc\u00e7l\u00fc b\u00fcy\u00fcme kaynakl\u0131 bir %4,80, hisse senedi taraf\u0131ndan sindirilebilir; mali g\u00fcvensizlik ve enflasyon primi kaynakl\u0131 bir %4,80 sindirilemez. Bug\u00fcnk\u00fc hareket ikinci kategoriye daha yak\u0131n.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mali bask\u0131nl\u0131k sarmal\u0131.<\/strong> Getiri y\u00fckseldik\u00e7e faiz gideri b\u00fcy\u00fcyor, gider b\u00fcy\u00fcd\u00fck\u00e7e a\u00e7\u0131k art\u0131yor, a\u00e7\u0131k artt\u0131k\u00e7a ihra\u00e7 art\u0131yor ve getiri yeniden y\u00fckseliyor. Bu d\u00f6ng\u00fc fiyatlanmaya ba\u015flad\u0131\u011f\u0131nda h\u00fck\u00fcmetin manevra alan\u0131 kalmaz. \u0130ngiltere ve Fransa bug\u00fcn bu testin tam ortas\u0131nda.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Japonya kanal\u0131.<\/strong> Yurt i\u00e7inde %3 alabilen bir Japon kurumsal yat\u0131r\u0131mc\u0131n\u0131n kur riski \u00fcstlenip ABD veya Avrupa tahvili ta\u015f\u0131mas\u0131 i\u00e7in sebebi azal\u0131r. Sermayenin eve d\u00f6n\u00fc\u015f\u00fc, d\u00fcnyan\u0131n en b\u00fcy\u00fck tahvil al\u0131c\u0131lar\u0131ndan birinin masadan \u00e7ekilmesi demektir. Bu y\u00fczden Japonya&#8217;n\u0131n uzun vadeli tahvil ihaleleri art\u0131k k\u00fcresel bir stres testi olarak izleniyor; zay\u0131f talep, Tokyo&#8217;dan Washington&#8217;a kadar bor\u00e7lanma maliyetlerini yukar\u0131 ta\u015f\u0131ma riski ta\u015f\u0131yor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Korelasyonun k\u0131r\u0131lmas\u0131.<\/strong> Klasik portf\u00f6yde tahvil, hisse d\u00fc\u015ft\u00fc\u011f\u00fcnde koruma sa\u011flar. Enflasyon \u015foku kaynakl\u0131 sat\u0131\u015flarda ikisi birlikte d\u00fc\u015fer; bu da risk paritesi ve dengeli fon stratejilerinde e\u015fzamanl\u0131 pozisyon azaltmay\u0131 tetikler. Kald\u0131ra\u00e7l\u0131 tarafta zorunlu sat\u0131\u015f ba\u015flad\u0131\u011f\u0131nda hareket kendini besler \u2014 2022&#8217;de \u0130ngiltere emeklilik fonlar\u0131nda ya\u015fanan k\u0131r\u0131lma bunun en yak\u0131n \u00f6rne\u011fiydi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Geli\u015fmekte olan piyasalar.<\/strong> \u0130kiz a\u00e7\u0131k veren \u00fclkeler \u00f6zellikle k\u0131r\u0131lgan. K\u00fcresel risksiz getiri y\u00fckseldi\u011finde bor\u00e7lanma maliyeti ile sermaye \u00e7\u0131k\u0131\u015f\u0131 riski ayn\u0131 anda art\u0131yor; bor\u00e7, a\u00e7\u0131k ve d\u0131\u015f finansman ihtiyac\u0131 \u00fcst \u00fcste bindi\u011finde piyasalar sert tepki veriyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Kripto \u00f6zelinde risk likidite kanal\u0131ndan geliyor. Son iki ay\u0131n fiyat davran\u0131\u015f\u0131, Bitcoin&#8217;in bir enflasyon koruna\u011f\u0131ndan \u00e7ok y\u00fcksek betal\u0131 bir likidite varl\u0131\u011f\u0131 olarak fiyatland\u0131\u011f\u0131n\u0131 do\u011fruluyor: getiriler geri \u00e7ekildi\u011finde h\u0131zla y\u00fckseliyor, y\u00fckseldi\u011finde ilk sat\u0131lanlar aras\u0131nda yer al\u0131yor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501\u2501<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Bu_Hafta_Izlenecekler\"><\/span>Bu Hafta \u0130zlenecekler<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">ABD piyasalar\u0131 Pazartesi \u0130\u015f\u00e7i Bayram\u0131 nedeniyle kapal\u0131. \u00c7ar\u015famba g\u00fcn\u00fc 10 y\u0131ll\u0131k tahvil ihalesi, Per\u015fembe \u00dcFE ve haftal\u0131k i\u015fsizlik ba\u015fvurular\u0131, Cuma g\u00fcn\u00fc ise ay\u0131n en kritik verisi olan T\u00dcFE a\u00e7\u0131klanacak \u2014 man\u015fette ayl\u0131k %0,4, \u00e7ekirdekte %0,2 art\u0131\u015f bekleniyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bunlar\u0131n yan\u0131nda Japonya&#8217;n\u0131n uzun vadeli tahvil ihalelerindeki talep, H\u00fcrm\u00fcz Bo\u011faz\u0131 ve petrol fiyat\u0131, Fransa&#8217;n\u0131n b\u00fct\u00e7e s\u00fcreci ve \u0130ngiltere&#8217;nin kas\u0131m b\u00fct\u00e7esi \u00f6n\u00fcm\u00fczdeki haftalar\u0131n as\u0131l fiyat belirleyicileri olacak. K\u0131sacas\u0131 piyasan\u0131n y\u00f6n\u00fcn\u00fc art\u0131k bilan\u00e7o sezonu de\u011fil, tahvil masas\u0131 tayin ediyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Bu i\u00e7erik yat\u0131r\u0131m tavsiyesi de\u011fildir.<\/em><\/p>\n<p style=\"border-left:4px solid #3b82f6;padding:14px 16px;border-radius:6px;color:#cbd5e1;font-weight:normal;line-height:1.6\">\ud83d\udca1 <strong style=\"color:#93c5fd\">Bilgi Notu:<\/strong> Baz\u0131 tahvil piyasas\u0131 terimleri ilk bak\u0131\u015fta kar\u0131\u015f\u0131k g\u00f6r\u00fcnebilir: \u201cgetiri\u201d tahvilin faiz getirisi gibi d\u00fc\u015f\u00fcn\u00fclebilir; tahvil fiyat\u0131 d\u00fc\u015ft\u00fck\u00e7e getiri genelde y\u00fckselir. \u201cBaz puan\u201d ise y\u00fczde birin y\u00fczde biri kadar k\u00fc\u00e7\u00fck bir de\u011fi\u015fimi anlat\u0131r, yani 1 baz puan = 0,01 puan.<\/p><p style=\"border-left:4px solid #eab308;padding:14px 16px;border-radius:6px;color:#cbd5e1;font-weight:normal;line-height:1.6\">\ud83d\udcca <strong style=\"color:#fde047\">Piyasa Etkisi:<\/strong> Uzun vadeli tahvil getirilerindeki h\u0131zl\u0131 y\u00fckseli\u015f, hisse senetleri ve alt\u0131n \u00fczerinde bask\u0131 yaratabilir; \u00f6zellikle b\u00fcy\u00fcme hisseleri ve faiz getirmeyen varl\u0131klar daha hassas olabilir. Ayn\u0131 zamanda bor\u00e7lanma maliyetleri artt\u0131\u011f\u0131 i\u00e7in piyasalar, merkez bankalar\u0131n\u0131n faiz patikas\u0131n\u0131 daha s\u0131k\u0131 ve temkinli fiyatlayabilir.<\/p>","protected":false},"excerpt":{"rendered":"<p>ABD&#8217;den Japonya&#8217;ya, \u0130ngiltere&#8217;den Fransa&#8217;ya kadar devlet tahvili getirileri on y\u0131llar\u0131n en y\u00fcksek seviyelerinde. Bu art\u0131k tek ba\u015f\u0131na bir faiz haberi<\/p>\n","protected":false},"author":1,"featured_media":15378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","fxk_merge_backup":"","footnotes":""},"categories":[1],"tags":[299],"class_list":["post-15377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finansal-piyasalar","tag-tahvil"],"_links":{"self":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/15377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15377"}],"version-history":[{"count":2,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/15377\/revisions"}],"predecessor-version":[{"id":15398,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/15377\/revisions\/15398"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/media\/15378"}],"wp:attachment":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}