$BLK, ABD hisselerindeki uzun s\u00fcredir s\u00fcrd\u00fcrd\u00fc\u011f\u00fc y\u00fcksek a\u011f\u0131rl\u0131\u011f\u0131 n\u00f6tre indirirken k\u0131sa vadeli ABD Hazine tahvillerini art\u0131rd\u0131 ve uzun vadeli tahvilleri n\u00f6tr seviyede tuttu. \u015eirket, bu hamleyi dalgal\u0131 makro ve piyasa ortam\u0131nda k\u0131sa vadeli bir risk y\u00f6netimi ad\u0131m\u0131 olarak tan\u0131mlad\u0131.<\/p>\n
D\u00fcnyan\u0131n en b\u00fcy\u00fck varl\u0131k y\u00f6neticisi, yapay zek\u00e2 d\u00f6n\u00fc\u015f\u00fcm\u00fcne ili\u015fkin ana inanc\u0131n\u0131n de\u011fi\u015fmedi\u011fini, AI odakl\u0131 hisseleri, borsada i\u015flem g\u00f6ren altyap\u0131 \u015firketlerini ve geli\u015fmekte olan \u00fclke hisse senetlerini h\u00e2l\u00e2 tercih etti\u011fini s\u00f6yledi. Buna kar\u015f\u0131n y\u00fckselen faizlerin, g\u00fc\u00e7l\u00fc kazan\u00e7lara ra\u011fmen hisse de\u011ferlemelerinde bask\u0131 olu\u015fturabilece\u011fine dikkat \u00e7ekildi.<\/p>\n
BlackRock, 10 y\u0131ll\u0131k ABD tahvil faizinin bu y\u0131l yakla\u015f\u0131k 110 baz puan artarak y\u00fczde 5,25 civar\u0131na geldi\u011fini ve y\u00fckseli\u015fin ana nedeninin enflasyon beklentilerinden \u00e7ok reel faizlerdeki art\u0131\u015f oldu\u011funu belirtti. \u015eirket, ocaktan bu yana piyasalara 160 baz puan ek Fed s\u0131k\u0131la\u015fmas\u0131 fiyatland\u0131\u011f\u0131n\u0131, bunun da fazla oldu\u011funu savundu.<\/p>\n
Y\u00fckseli\u015fin arkas\u0131nda k\u00fcresel sermaye rekabeti ve Orta Do\u011fu gerilimleriyle sertle\u015fen Fed beklentileri bulunurken, BlackRock mevcut seviyelerde tahvillerin \u00f6n\u00fcm\u00fczdeki 12 ay i\u00e7inde yakla\u015f\u0131k 75 baz puanl\u0131k ek faiz art\u0131\u015f\u0131n\u0131 kar\u015f\u0131layabilecek bir getiri tamponuna sahip oldu\u011funu hesapl\u0131yor. \u015eirket ayr\u0131ca k\u0131sa vadeli tahvillerde en fazla gev\u015feme potansiyeli g\u00f6rd\u00fc\u011f\u00fcn\u00fc, uzun vadeli tahvillerde ise faiz riskine kar\u015f\u0131 daha temkinli kald\u0131\u011f\u0131n\u0131 ifade etti.<\/p>\n
Yeni a\u00e7\u0131klamada, bu hafta gelecek ABD T\u00dcFE ve \u00dcFE verilerinin faiz beklentileri ile tahvil getirilerinin y\u00f6n\u00fc a\u00e7\u0131s\u0131ndan belirleyici olaca\u011f\u0131 vurguland\u0131. Orta Do\u011fu\u2019daki sava\u015f\u0131n ve petrol fiyatlar\u0131ndaki y\u00fckseli\u015fin Fed beklentilerini sert bi\u00e7imde yeniden fiyatlad\u0131\u011f\u0131, \u0130ran sava\u015f\u0131nda olas\u0131 bir yat\u0131\u015fman\u0131n BlackRock\u2019\u0131n k\u0131sa vadeli tahvil g\u00f6r\u00fc\u015f\u00fcn\u00fc destekleyebilece\u011fi; buna kar\u015f\u0131l\u0131k petrol\u00fcn daha da y\u00fckselip enflasyonu art\u0131rmas\u0131n\u0131n tahvil getirilerini yukar\u0131 itebilece\u011fi belirtildi.<\/p>\n
BlackRock ayr\u0131ca Japon devlet tahvillerindeki d\u00fc\u015f\u00fck a\u011f\u0131rl\u0131\u011f\u0131n\u0131 azaltt\u0131 ve ABD ajans ipote\u011fe dayal\u0131 menkul k\u0131ymetlerini n\u00f6tre \u00e7ekti. \u015eirket, g\u00f6r\u00fcn\u00fcrl\u00fck artt\u0131\u011f\u0131nda yeniden risk eklemeye haz\u0131r oldu\u011funu da s\u00f6yledi.<\/p>\n","protected":false},"excerpt":{"rendered":"
$BLK, ABD hisselerindeki uzun s\u00fcredir s\u00fcrd\u00fcrd\u00fc\u011f\u00fc y\u00fcksek a\u011f\u0131rl\u0131\u011f\u0131 n\u00f6tre indirirken k\u0131sa vadeli ABD Hazine tahvillerini art\u0131rd\u0131 ve uzun vadeli tahvilleri<\/p>\n","protected":false},"author":1,"featured_media":30217,"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":"[{\"ts\":\"2026-10-13 01:31:22\",\"content\":\"\\nD\\u00fcnyan\\u0131n en b\\u00fcy\\u00fck varl\\u0131k y\\u00f6netim \\u015firketlerinden $BLK\\u2019\\u0131n yat\\u0131r\\u0131m stratejisinde dikkat \\u00e7ekici bir de\\u011fi\\u015fiklik ya\\u015fand\\u0131. ABD tahvil getirilerinin son y\\u0131llar\\u0131n en y\\u00fcksek seviyelerine y\\u00fckselmesiyle \\u015firketin yat\\u0131r\\u0131m ara\\u015ft\\u0131rma birimi, ABD hisse senetlerindeki a\\u011f\\u0131rl\\u0131\\u011f\\u0131n\\u0131 n\\u00f6tr seviyeye indirirken k\\u0131sa vadeli ABD Hazine tahvillerine y\\u00f6nelik pozisyonunu art\\u0131rd\\u0131.\\n\\n\\n\\nABD\\u2019nin 10 y\\u0131ll\\u0131k Hazine tahvili faizi y\\u00fczde 5,25 seviyesine yakla\\u015f\\u0131rken, tahvil piyasas\\u0131ndaki y\\u00fcksek getiriler yat\\u0131r\\u0131mc\\u0131lar a\\u00e7\\u0131s\\u0131ndan yeniden cazip f\\u0131rsatlar olu\\u015fturmaya ba\\u015flad\\u0131. BlackRock\\u2019\\u0131n strateji de\\u011fi\\u015fikli\\u011fi, uzun s\\u00fcredir hisse senetlerini tahvillere tercih eden yat\\u0131r\\u0131m yakla\\u015f\\u0131m\\u0131n\\u0131n daha temkinli bir pozisyona ge\\u00e7ti\\u011fine i\\u015faret ediyor.\\n\\n\\n\\n\\n\\n\\u0130\\u00e7indekiler\\n\\nABD Tahvillerinde Yeni D\\u00f6nemHisse Senetlerinde A\\u011f\\u0131rl\\u0131k N\\u00f6tr Seviyeye \\u0130ndirildiFaizlerdeki Y\\u00fckseli\\u015fin Arkas\\u0131nda Ne Var?Uzun Vadeli Tahvillerde Temkinli Yakla\\u015f\\u0131mG\\u00f6zler ABD Enflasyon Verilerinde\\nABD Tahvillerinde Yeni D\\u00f6nem\\n\\n\\n\\nBlackRock Yat\\u0131r\\u0131m Enstit\\u00fcs\\u00fc, yakla\\u015f\\u0131k alt\\u0131 y\\u0131ld\\u0131r b\\u00fcy\\u00fck \\u00f6l\\u00e7\\u00fcde d\\u00fc\\u015f\\u00fck a\\u011f\\u0131rl\\u0131k verdi\\u011fi ABD Hazine tahvillerine y\\u00f6nelik de\\u011ferlendirmesini de\\u011fi\\u015ftirdi. Ekim 2020\\u2019de y\\u00fczde 0,9\\u2019un alt\\u0131nda bulunan 10 y\\u0131ll\\u0131k tahvil getirisi, 2026 y\\u0131l\\u0131nda yakla\\u015f\\u0131k 110 baz puan y\\u00fckselerek y\\u00fczde 5,25 civar\\u0131na ula\\u015ft\\u0131.\\n\\n\\n\\nBu g\\u00fc\\u00e7l\\u00fc y\\u00fckseli\\u015f, tahvillerin sundu\\u011fu getiriyi \\u00f6nemli \\u00f6l\\u00e7\\u00fcde art\\u0131r\\u0131rken yat\\u0131r\\u0131mc\\u0131lar\\u0131n sabit getirili varl\\u0131klara yeniden y\\u00f6nelmesini destekliyor.\\n\\n\\n\\nBlackRock\\u2019\\u0131n yeni yakla\\u015f\\u0131m\\u0131nda k\\u0131sa vadeli ABD Hazine tahvilleri daha y\\u00fcksek a\\u011f\\u0131rl\\u0131kla tercih edilirken, uzun vadeli tahviller i\\u00e7in n\\u00f6tr pozisyon benimseniyor. Bu ayr\\u0131m, \\u015firketin y\\u00fcksek getirilerden yararlanmak istedi\\u011fini ancak uzun vadeli tahvillerde faiz oynakl\\u0131\\u011f\\u0131na kar\\u015f\\u0131 temkinli kald\\u0131\\u011f\\u0131n\\u0131 g\\u00f6steriyor.\\n\\n\\n\\nHisse Senetlerinde A\\u011f\\u0131rl\\u0131k N\\u00f6tr Seviyeye \\u0130ndirildi\\n\\n\\n\\nTahvillere y\\u00f6nelik pozisyon de\\u011fi\\u015fikli\\u011fi, ABD hisse senetlerindeki a\\u011f\\u0131rl\\u0131\\u011f\\u0131n azalt\\u0131lmas\\u0131yla destekleniyor. BlackRock, daha \\u00f6nce y\\u00fcksek a\\u011f\\u0131rl\\u0131k verdi\\u011fi ABD hisse senetleri i\\u00e7in art\\u0131k n\\u00f6tr bir yakla\\u015f\\u0131m benimsiyor.\\n\\n\\n\\nBu karar, ABD borsalar\\u0131na y\\u00f6nelik uzun vadeli iyimserli\\u011fin tamamen sona erdi\\u011fi anlam\\u0131na gelmiyor. Daha ziyade, y\\u00fckselen faizler ve de\\u011fi\\u015fen makroekonomik ko\\u015fullar kar\\u015f\\u0131s\\u0131nda portf\\u00f6y riskinin yeniden dengelenmesini ama\\u00e7layan taktiksel bir d\\u00fczenleme olarak \\u00f6ne \\u00e7\\u0131k\\u0131yor.\\n\\n\\n\\nY\\u00fcksek faizler, \\u015firketlerin finansman maliyetlerini art\\u0131r\\u0131rken gelecekte elde edilmesi beklenen kazan\\u00e7lar\\u0131n bug\\u00fcnk\\u00fc de\\u011ferini de a\\u015fa\\u011f\\u0131 \\u00e7ekebiliyor. \\u00d6zellikle de\\u011ferlemeleri y\\u00fcksek olan \\u015firketler, tahvil getirilerindeki y\\u00fckseli\\u015fe kar\\u015f\\u0131 daha hassas hale gelebiliyor.\\n\\n\\n\\nBlackRock buna ra\\u011fmen yapay zek\\u00e2 odakl\\u0131 hisselere, borsada i\\u015flem g\\u00f6ren altyap\\u0131 \\u015firketlerine ve geli\\u015fmekte olan \\u00fclke hisse senetlerine y\\u00f6nelik olumlu yakla\\u015f\\u0131m\\u0131n\\u0131 koruyor.\\n\\n\\n\\nFaizlerdeki Y\\u00fckseli\\u015fin Arkas\\u0131nda Ne Var?\\n\\n\\n\\nABD\\u2019nin 10 y\\u0131ll\\u0131k tahvil faizinde y\\u0131l boyunca ya\\u015fanan y\\u00fckseli\\u015fin arkas\\u0131nda yaln\\u0131zca enflasyon beklentileri bulunmuyor. BlackRock\\u2019\\u0131n de\\u011ferlendirmesine g\\u00f6re reel faizlerdeki art\\u0131\\u015f, tahvil getirilerindeki hareketin \\u00f6nemli b\\u00f6l\\u00fcm\\u00fcn\\u00fc a\\u00e7\\u0131kl\\u0131yor.\\n\\n\\n\\nK\\u00fcresel sermaye i\\u00e7in rekabetin yo\\u011funla\\u015fmas\\u0131 ve Orta Do\\u011fu\\u2019daki jeopolitik gerilimler de finansal ko\\u015fullar\\u0131n \\u015fekillenmesinde etkili oluyor. Piyasalar, ocak ay\\u0131ndan bu yana Fed\\u2019in daha s\\u0131k\\u0131 para politikas\\u0131na ge\\u00e7mesine ili\\u015fkin beklentilerini toplam 160 baz puan art\\u0131rm\\u0131\\u015f durumda.\\n\\n\\n\\nB\\u00f6yle bir ortamda tahvil yat\\u0131r\\u0131mc\\u0131lar\\u0131, faizlerin daha uzun s\\u00fcre y\\u00fcksek kalmas\\u0131 veya yeni art\\u0131\\u015flar\\u0131n g\\u00fcndeme gelmesi ihtimalini dikkate almak zorunda kal\\u0131yor.\\n\\n\\n\\nBlackRock ise mevcut getiri seviyelerinde tahvil yat\\u0131r\\u0131mc\\u0131lar\\u0131n\\u0131n \\u00f6n\\u00fcm\\u00fczdeki 12 ay boyunca faizlerde yakla\\u015f\\u0131k 75 baz puanl\\u0131k ek y\\u00fckseli\\u015fi kar\\u015f\\u0131layabilecek bir getiri tamponuna sahip oldu\\u011funu hesapl\\u0131yor. Bu de\\u011ferlendirmede \\u00f6zellikle k\\u0131sa vadeli tahviller, daha y\\u00fcksek ba\\u015flang\\u0131\\u00e7 getirileri sayesinde \\u00f6ne \\u00e7\\u0131k\\u0131yor.\\n\\n\\n\\nUzun Vadeli Tahvillerde Temkinli Yakla\\u015f\\u0131m\\n\\n\\n\\nBlackRock\\u2019\\u0131n k\\u0131sa vadeli tahvilleri tercih etmesi, faiz riskinin portf\\u00f6y y\\u00f6netiminde \\u00f6nemli bir fakt\\u00f6r olmaya devam etti\\u011fini g\\u00f6steriyor.\\n\\n\\n\\nK\\u0131sa vadeli tahviller genellikle uzun vadeli tahvillere k\\u0131yasla faiz de\\u011fi\\u015fimlerine daha s\\u0131n\\u0131rl\\u0131 fiyat tepkisi verir. Bu nedenle faizlerin daha da y\\u00fckselebilece\\u011fi bir ortamda k\\u0131sa vadeli ara\\u00e7lar, hem getiri elde etmek hem de fiyat oynakl\\u0131\\u011f\\u0131n\\u0131 s\\u0131n\\u0131rlamak isteyen yat\\u0131r\\u0131mc\\u0131lar a\\u00e7\\u0131s\\u0131ndan avantaj sa\\u011flayabiliyor.\\n\\n\\n\\nUzun vadeli tahvillerde ise faizlerin y\\u00fckselmeye devam etmesi halinde daha belirgin de\\u011fer kay\\u0131plar\\u0131 ya\\u015fanabiliyor. BlackRock\\u2019\\u0131n uzun vadeli tahvillerde n\\u00f6tr pozisyonu korumas\\u0131, \\u015firketin mevcut getirileri cazip bulmas\\u0131na ra\\u011fmen faizlerin gelecekteki y\\u00f6n\\u00fc konusunda kesin bir iyimserlik ta\\u015f\\u0131mad\\u0131\\u011f\\u0131n\\u0131 ortaya koyuyor.\\n\\n\\n\\nG\\u00f6zler ABD Enflasyon Verilerinde\\n\\n\\n\\nPiyasalar\\u0131n bundan sonraki y\\u00f6n\\u00fc a\\u00e7\\u0131s\\u0131ndan ABD\\u2019de a\\u00e7\\u0131klanacak enflasyon verileri kritik \\u00f6nem ta\\u015f\\u0131yor. T\\u00fcketici fiyatlar\\u0131 ve \\u00fcretici fiyatlar\\u0131na ili\\u015fkin veriler, fiyat bask\\u0131lar\\u0131n\\u0131n ne \\u00f6l\\u00e7\\u00fcde devam etti\\u011fini ve Fed\\u2019in faiz politikas\\u0131nda nas\\u0131l bir yol izleyebilece\\u011fini de\\u011ferlendirmek i\\u00e7in yak\\u0131ndan takip edilecek.\\n\\n\\n\\nEnerji maliyetlerindeki y\\u00fckseli\\u015fin enflasyonu yeniden h\\u0131zland\\u0131rmas\\u0131 halinde tahvil getirileri \\u00fczerindeki yukar\\u0131 y\\u00f6nl\\u00fc bask\\u0131 devam edebilir. Buna kar\\u015f\\u0131l\\u0131k enflasyonun zay\\u0131flamas\\u0131 ve faiz art\\u0131\\u015f\\u0131 beklentilerinin gerilemesi, hem tahvilleri hem de hisse senetlerini destekleyebilir.\\n\\n\\n\\nBlackRock\\u2019\\u0131n portf\\u00f6y de\\u011fi\\u015fikli\\u011fi, yat\\u0131r\\u0131mc\\u0131lar\\u0131n y\\u00fcksek tahvil getirileri kar\\u015f\\u0131s\\u0131nda varl\\u0131k da\\u011f\\u0131l\\u0131mlar\\u0131n\\u0131 yeniden de\\u011ferlendirdi\\u011fini g\\u00f6steriyor. ABD hisse senetlerindeki a\\u011f\\u0131rl\\u0131\\u011f\\u0131n azalt\\u0131lmas\\u0131 ve k\\u0131sa vadeli tahvillerin \\u00f6ne \\u00e7\\u0131kar\\u0131lmas\\u0131, finansal piyasalarda makroekonomik ko\\u015fullar\\u0131n ve faiz beklentilerinin yeniden belirleyici hale geldi\\u011fine i\\u015faret ediyor.\\n\\ud83d\\udca1 Bilgi Notu: \\u201cBaz puan\\u201d, y\\u00fczde oranlar\\u0131ndaki \\u00e7ok k\\u00fc\\u00e7\\u00fck de\\u011fi\\u015fimleri anlatmak i\\u00e7in kullan\\u0131l\\u0131r; 100 baz puan 1 puanl\\u0131k de\\u011fi\\u015fime denk gelir. \\u201cN\\u00f6tr a\\u011f\\u0131rl\\u0131k\\u201d ise bir varl\\u0131\\u011f\\u0131 portf\\u00f6yde ne art\\u0131r\\u0131lm\\u0131\\u015f ne de azalt\\u0131lm\\u0131\\u015f, yani normal seviyede tutmak demektir.\\ud83d\\udcca Piyasa Etkisi: ABD tahvil faizlerindeki y\\u00fckseli\\u015f s\\u00fcrerse dolar\\u0131n destek bulmas\\u0131 ve teknoloji a\\u011f\\u0131rl\\u0131kl\\u0131 hisse senetleri \\u00fczerinde bask\\u0131 artmas\\u0131 beklenebilir. Yakla\\u015fan enflasyon verileri, Fed\\u2019in faizleri daha uzun s\\u00fcre y\\u00fcksek tutup tutmayaca\\u011f\\u0131na dair beklentileri de\\u011fi\\u015ftirerek tahvil, hisse ve alt\\u0131n fiyatlar\\u0131nda oynakl\\u0131\\u011f\\u0131 art\\u0131rabilir.\"}]","footnotes":""},"categories":[1],"tags":[20,237,29,6450],"class_list":["post-30216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finansal-piyasalar","tag-abd","tag-blackrock","tag-hisse","tag-onemli"],"_links":{"self":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/30216","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=30216"}],"version-history":[{"count":3,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/30216\/revisions"}],"predecessor-version":[{"id":30227,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/30216\/revisions\/30227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/media\/30217"}],"wp:attachment":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}