Axios da ki habere g\u00f6re; ABD ve Japon h\u00fck\u00fcmetleri, k\u00fcresel d\u00f6viz piyasalar\u0131nda yenin de\u011ferini desteklemek i\u00e7in birlikte hareket ettiler. Bunu yapma bi\u00e7imleri, ABD’nin hedefleri hakk\u0131nda bir ipucu i\u00e7eriyor ve k\u00fcresel piyasalar i\u00e7in baz\u0131 endi\u015fe verici sonu\u00e7lar do\u011furuyor.<\/p>\n\n\n\n
Genel tablo: K\u00fcresel finans piyasalar\u0131nda bu yaz boyunca man\u015fet g\u00f6stergeler istikrarl\u0131 seyretti. Ancak, \u00f6zellikle d\u00fcnya genelinde y\u00fcksek bor\u00e7lanma oranlar\u0131n\u0131n oldu\u011fu bir d\u00f6nemde uzun vadeli bor\u00e7lanma maliyetlerinin y\u00fckselmesi \u015feklinde, y\u00fczeyin alt\u0131nda baz\u0131 gerilim i\u015faretleri g\u00f6r\u00fcl\u00fcyor.<\/p>\n\n\n\n
ABD’nin yen m\u00fcdahalesine kat\u0131l\u0131m\u0131, Japonya’n\u0131n Hazine tahvilleri \u00fczerinde daha fazla piyasa bask\u0131s\u0131 yaratmadan para birimindeki dalgalanmalar\u0131 yumu\u015fatmas\u0131n\u0131 sa\u011flamaya y\u00f6nelik bir \u00e7aba olabilir.
Japonya, on y\u0131llard\u0131r zaman zaman yen piyasas\u0131na m\u00fcdahale ediyor. Ola\u011fan\u00fcst\u00fc olan ise, ABD Hazine Bakanl\u0131\u011f\u0131’n\u0131n bu \u00e7abaya kat\u0131lmas\u0131 ve bunu Japon h\u00fck\u00fcmetinin ABD Hazine tahvillerini satmas\u0131n\u0131 engellemek amac\u0131yla yap\u0131lm\u0131\u015f gibi g\u00f6r\u00fcnen bir \u015fekilde yapmas\u0131d\u0131r.
\u00d6zetle: Japon h\u00fck\u00fcmeti, petrol, g\u0131da ve di\u011fer ithalat \u00fcr\u00fcnlerini daha pahal\u0131 hale getiren ve finansal istikrar riskleri yaratan yenin de\u011fer kayb\u0131ndan endi\u015fe duyuyor.<\/p>\n\n\n\n
Ge\u00e7ti\u011fimiz haftan\u0131n sonlar\u0131nda, Hazine Bakanl\u0131\u011f\u0131, Bakan Scott Bessent’in sosyal medya payla\u015f\u0131m\u0131nda “g\u00fc\u00e7l\u00fc bir ili\u015fki ve yak\u0131n koordinasyon”dan bahsetmesiyle, d\u00f6viz piyasas\u0131na m\u00fcdahale konusundaki rol\u00fcne ima yoluyla de\u011findi.
Camp David’de foto\u011fraf\u00e7\u0131lar\u0131n da bulundu\u011fu bir bas\u0131n toplant\u0131s\u0131nda Bessent’in \u00f6n\u00fcnde, “5-10 milyar dolar de\u011ferinde Japon Yeni (JPY) sat\u0131n al” yazan bir “yap\u0131lacaklar” listesi bulunan bir not defteri vard\u0131.
Pazartesi sabah\u0131 her iki h\u00fck\u00fcmet de bu giri\u015fimi do\u011frulad\u0131. Bessent , X’te yapt\u0131\u011f\u0131 a\u00e7\u0131klamada , “Cuma g\u00fcnk\u00fc koordineli d\u00f6viz i\u015flemleri, d\u00fczensiz yen hareketlerine kar\u015f\u0131 koydu. Daha fazla ortak m\u00fcdahaleye kat\u0131lmaktan \u00e7ekinmeyece\u011fiz” dedi.
Yak\u0131ndan bak\u0131ld\u0131\u011f\u0131nda: \u0130ki h\u00fck\u00fcmet birbirini tamamlay\u0131c\u0131 ara\u00e7lar kullanm\u0131\u015f gibi g\u00f6r\u00fcn\u00fcyor. Hazine ad\u0131na hareket eden New York Fed’in, euro satarak yen sat\u0131n ald\u0131\u011f\u0131 bildiriliyor.<\/p>\n\n\n\n
Bu arada, Fed’in Yabanc\u0131 ve Uluslararas\u0131 Para Otoriteleri (FIMA) Repo Tesisi, Japon yetkililere Hazine tahvillerini do\u011frudan satmak yerine, bu tahviller kar\u015f\u0131l\u0131\u011f\u0131nda dolar \u00f6d\u00fcn\u00e7 alma imkan\u0131 sa\u011flad\u0131.
Esasen, ABD Hazine Bakanl\u0131\u011f\u0131 yen-euro d\u00f6viz kurunu g\u00fc\u00e7lendirmek i\u00e7in hareket ediyordu. G\u00f6r\u00fcn\u00fc\u015fe g\u00f6re , Japon h\u00fck\u00fcmetinin b\u00fcy\u00fck \u00f6l\u00e7ekte ABD devlet tahvili satmas\u0131na gerek kalmadan , k\u00fcresel d\u00f6viz piyasalar\u0131nda yenin g\u00fc\u00e7lenmesi hedefine ula\u015fm\u0131\u015ft\u0131 .
Sat\u0131r aralar\u0131nda: Uzun vadeli ABD bor\u00e7lanma faiz oranlar\u0131 son birka\u00e7 ayd\u0131r y\u00fckseli\u015fte ve 30 y\u0131ll\u0131k Hazine tahvil getirisi son g\u00fcnlerde 2007’den bu yana en y\u00fcksek seviyelerine ula\u015ft\u0131. (Pazartesi g\u00fcn\u00fc saat 11:45’te yakla\u015f\u0131k %5,23 civar\u0131ndayd\u0131.)<\/p>\n\n\n\n
Di\u011fer b\u00fcy\u00fck \u00fclkelerin faiz oranlar\u0131 da y\u00fckseldi; bu durum, b\u00fcy\u00fck mali a\u00e7\u0131klar\u0131 ve yapay zeka yat\u0131r\u0131mlar\u0131n\u0131 finanse etmek i\u00e7in k\u00fcresel sermaye talebini yans\u0131t\u0131yor. K\u00fcresel yat\u0131r\u0131mc\u0131lar, ABD’nin devasa b\u00fct\u00e7e a\u00e7\u0131klar\u0131n\u0131 finanse etmek i\u00e7in daha y\u00fcksek faiz oranlar\u0131 talep ettik\u00e7e, ABD vergi m\u00fckellefleri \u00fczerindeki faiz maliyetlerinin y\u00fck\u00fc de artacak.
Japonya’da y\u00fckselen faiz oranlar\u0131n\u0131n, hedge fonlar\u0131n\u0131n d\u00fc\u015f\u00fck faiz oranlar\u0131yla yen cinsinden bor\u00e7 al\u0131p ba\u015fka yerlerde daha y\u00fcksek getiri sa\u011flayan varl\u0131klar sat\u0131n ald\u0131\u011f\u0131 k\u00fcresel carry trade’in sonunu getirece\u011fi y\u00f6n\u00fcnde s\u00fcrekli endi\u015feler vard\u0131. Japonya Merkez Bankas\u0131, para birimi zay\u0131fl\u0131\u011f\u0131 ve enflasyon sorununu yaln\u0131zca faiz art\u0131r\u0131mlar\u0131yla \u00e7\u00f6zmeye \u00e7al\u0131\u015f\u0131rsa, bu s\u00fcreci h\u0131zland\u0131rabilir.
ABD’nin para birimine m\u00fcdahalesine ili\u015fkin akla yatk\u0131n bir a\u00e7\u0131klama, Bessent’in Hazine tahvillerinde yeni bir bask\u0131 yaratmadan Japonlar\u0131n yenin zay\u0131fl\u0131\u011f\u0131na kar\u015f\u0131 harekete ge\u00e7melerine yard\u0131mc\u0131 olmay\u0131 ama\u00e7lad\u0131\u011f\u0131 y\u00f6n\u00fcndedir; ancak kendisi ve Hazine Bakanl\u0131\u011f\u0131 gerek\u00e7e olarak ABD-Japonya dostlu\u011funu vurgulam\u0131\u015ft\u0131r.
\u015eunu da belirtelim: Hazine Bakanl\u0131\u011f\u0131’ndan bir yetkili Axios’a yapt\u0131\u011f\u0131 a\u00e7\u0131klamada, bu eylemin yenin sat\u0131\u015f dalgas\u0131n\u0131n h\u0131z\u0131 ve d\u00fczensizli\u011fine bir yan\u0131t oldu\u011funu ve bu istikrars\u0131zl\u0131\u011f\u0131n yay\u0131lmas\u0131n\u0131 \u00f6nlemeyi ama\u00e7lad\u0131\u011f\u0131n\u0131 s\u00f6yledi.<\/p>\n\n\n\n
Finansal dan\u0131\u015fmanl\u0131k firmas\u0131 deVere Group’un CEO’su Nigel Green, bir notunda , “Piyasalar bunu bir d\u00f6viz kuru sorunu olarak ele al\u0131yor, ancak bu \u00e7ok daha b\u00fcy\u00fck bir mesele” diye yazd\u0131.<\/p>\n\n\n\n
“D\u00fcnyan\u0131n en b\u00fcy\u00fck iki ekonomisinin on y\u0131ldan uzun bir s\u00fcre sonra ilk kez birlikte piyasaya girmesi, yat\u0131r\u0131mc\u0131lara sadece d\u00f6viz kuruyla ilgili de\u011fil, k\u00fcresel finans sisteminin y\u00fczeyinin alt\u0131nda biriken stresle ilgili de bir \u015feyler anlat\u0131yor.”<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Axios da ki habere g\u00f6re; ABD ve Japon h\u00fck\u00fcmetleri, k\u00fcresel d\u00f6viz piyasalar\u0131nda yenin de\u011ferini desteklemek i\u00e7in birlikte hareket ettiler. Bunu<\/p>\n","protected":false},"author":1,"featured_media":7372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[1],"tags":[53,157],"class_list":["post-7365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finansal-piyasalar","tag-japonya","tag-yen"],"_links":{"self":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/7365","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=7365"}],"version-history":[{"count":1,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/7365\/revisions"}],"predecessor-version":[{"id":7367,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/7365\/revisions\/7367"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/media\/7372"}],"wp:attachment":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}