Gedik Yat\u0131r\u0131m'\u0131n raporunda “K\u00fcresel piyasalarda risk i\u015ftah\u0131 belirgin \u015fekilde zay\u0131flarken, sat\u0131\u015flar\u0131n merkezinde Donald Trump y\u00f6netiminin Federal Reserve ba\u015fkanl\u0131\u011f\u0131 i\u00e7in Kevin Warsh\u2019\u0131 \u00f6ne \u00e7\u0131karaca\u011f\u0131na dair beklentiler yer ald\u0131.” ifadelerine yer verildi. Raporun devam\u0131nda ise \u015funlar kaydedildi:<\/p>\n
“Piyasalar taraf\u0131ndan di\u011fer adaylara k\u0131yasla daha \u015fahin alg\u0131lanan Warsh ihtimali, faiz indirimlerinin h\u0131z\u0131na ve kapsam\u0131na y\u00f6nelik beklentilerin geri \u00e7ekilmesine neden oldu. Bu fiyatlama de\u011fi\u015fimiyle birlikte ABD 10 y\u0131ll\u0131k tahvil getirileri y\u00fckselirken dolar g\u00fc\u00e7 kazand\u0131; g\u00fcvenli liman talebindeki \u00e7\u00f6z\u00fclme alt\u0131n fiyatlar\u0131nda sert d\u00fc\u015f\u00fc\u015fe yol a\u00e7t\u0131. Asya piyasalar\u0131nda MSCI Asya endeksi gerilerken, ABD vadeli endekslerinde de kay\u0131plar izlendi. Kripto varl\u0131klar cephesinde ise \u00f6zellikle Bitcoin \u00f6nc\u00fcl\u00fc\u011f\u00fcnde sat\u0131\u015flar h\u0131zland\u0131 ve ETF\u2019lerden \u00e7\u0131kan fonlar riskten ka\u00e7\u0131\u015f e\u011filimini peki\u015ftirdi.<\/p>\n
Piyasa kat\u0131l\u0131mc\u0131lar\u0131, Trump\u2019\u0131n uzun s\u00fcredir Jerome Powell\u2019a y\u00f6nelik ele\u015ftirileri sonras\u0131 ataca\u011f\u0131 bu ad\u0131m\u0131n para politikas\u0131nda yeni bir denge aray\u0131\u015f\u0131na i\u015faret edip etmeyece\u011fini tart\u0131\u015f\u0131yor. Warsh ge\u00e7mi\u015fte enflasyonla m\u00fccadelede sert duru\u015fuyla bilinse de, son aylarda Trump\u2019\u0131n daha h\u0131zl\u0131 ve g\u00fc\u00e7l\u00fc faiz indirimleri y\u00f6n\u00fcndeki s\u00f6ylemleriyle uyumlu mesajlar vermesi politika \u00e7izgisinin netli\u011fini azalt\u0131yor. Bu belirsizlik, k\u0131sa vadede dolar ve
\ntahvil faizlerini yukar\u0131 iterken, riskli varl\u0131klarda temkinli duru\u015fu g\u00fc\u00e7lendiriyor. \u00d6te yandan Trump\u2019\u0131n adayl\u0131\u011f\u0131n\u0131 resmen a\u00e7\u0131klamas\u0131yla birlikte aylard\u0131r s\u00fcren belirsizli\u011fin sona ermesi beklenirken, Washington\u2019da h\u00fck\u00fcmet kapanmas\u0131n\u0131 \u00f6nlemeye y\u00f6nelik Demokratlarla var\u0131lan ge\u00e7ici uzla\u015f\u0131 haberleri siyasi riskleri s\u0131n\u0131rl\u0131 da olsa dengeleyen bir unsur olarak \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n
Euro b\u00f6lgesi<\/p>\n
Avrupa piyasalar\u0131nda haftan\u0131n genelinde temkinli bir hava h\u00e2kim olurken, euro\/dolar paritesi 1,19 seviyesine gerileyerek haftan\u0131n ba\u015f\u0131nda g\u00f6r\u00fclen Haziran 2021 zirvelerinden geri \u00e7ekildi. Bu zay\u0131flamada, Scott Bessent\u2019in ABD\u2019nin d\u00f6viz piyasalar\u0131na do\u011frudan m\u00fcdahale ihtimalini d\u00fc\u015f\u00fcren a\u00e7\u0131klamalar\u0131 sonras\u0131 g\u00fc\u00e7lenen dolar ve Fed\u2019in beklendi\u011fi gibi faizleri sabit tutarak Jerome Powell arac\u0131l\u0131\u011f\u0131yla \u201cuzun s\u00fcre de\u011fi\u015fiklik yok\u201d mesaj\u0131 vermesi etkili oldu. ABD taraf\u0131nda para politikas\u0131n\u0131n s\u0131k\u0131 kalaca\u011f\u0131 alg\u0131s\u0131, euro \u00fczerinde bask\u0131 yarat\u0131rken, Avrupa varl\u0131klar\u0131nda da ihtiyatl\u0131 fiyatlamay\u0131 beraberinde getirdi.<\/p>\n
\u00d6te yandan Avrupa \u00f6zelinde odak noktas\u0131 AMB\u2019n\u0131n gelecek hafta ger\u00e7ekle\u015ftirece\u011fi para politikas\u0131 toplant\u0131s\u0131na kaym\u0131\u015f durumda. ECB Y\u00f6netim Konseyi \u00fcyesi Martin Kocher, euronun daha da g\u00fc\u00e7lenmesinin finansal ko\u015fullar\u0131 s\u0131k\u0131la\u015ft\u0131rarak b\u00fcy\u00fcmeyi bask\u0131layabilece\u011fini ve bu durumda faiz indirimlerinin yeniden g\u00fcndeme gelebilece\u011fini vurgulad\u0131. Bu a\u00e7\u0131klamalar sonras\u0131 piyasalarda yaz aylar\u0131na y\u00f6nelik gev\u015feme beklentileri s\u0131n\u0131rl\u0131 da olsa g\u00fc\u00e7lendi ve temmuz ay\u0131 i\u00e7in faiz indirimi olas\u0131l\u0131\u011f\u0131 yakla\u015f\u0131k y\u00fczde 25 seviyesine y\u00fckseldi. Ancak mevcut g\u00f6r\u00fcn\u00fcmde ECB\u2019nin k\u0131sa vadede faizleri sabit tutarak, b\u00fcy\u00fcme\u2013enflasyon dengesini izlemeye devam etmesi ana senaryo olarak \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n
Makroekonomik veriler de bu temkinli duru\u015fu destekler nitelikte. Euro B\u00f6lgesi ekonomisi 2025\u2019in \u00fc\u00e7\u00fcnc\u00fc \u00e7eyre\u011finde y\u00fczde 0,3 ile \u0131l\u0131ml\u0131 bir b\u00fcy\u00fcme sergilerken, enflasyonun aral\u0131k ay\u0131nda y\u00fczde 1,9\u2019a gerilemesi fiyat bask\u0131lar\u0131n\u0131n kontrol alt\u0131na al\u0131nd\u0131\u011f\u0131na i\u015faret etti. Buna kar\u015f\u0131n b\u00fcy\u00fcmenin k\u0131r\u0131lgan seyri ve g\u00fc\u00e7l\u00fc euro ihtimali, ECB\u2019nin agresif bir s\u0131k\u0131la\u015fma yerine esnek ve veri odakl\u0131 bir politika izleyece\u011fi beklentisini g\u00fc\u00e7lendiriyor; bu da Avrupa piyasalar\u0131nda k\u0131sa vadede dalgal\u0131 ancak y\u00f6n aray\u0131\u015f\u0131n\u0131n s\u00fcrd\u00fc\u011f\u00fc bir g\u00f6r\u00fcn\u00fcm\u00fc beraberinde getiriyor.<\/p>\n
T\u00fcrkiye<\/p>\n
Yurt i\u00e7inde ekonomik g\u00fcven endeksi ocakta 99,50\u2019den 99,40\u2019a gerilerken, i\u015fsizlik oran\u0131 ise aral\u0131k ay\u0131nda y\u00fczde 8,5\u2019den y\u00fczde 7,70\u2019e d\u00fc\u015ft\u00fc. TCMB PPK Toplant\u0131 \u00d6zeti\u2019nde \u00f6nc\u00fc verilerin ocak ay\u0131nda ayl\u0131k T\u00dcFE\u2019nin g\u0131da \u00f6nc\u00fcl\u00fc\u011f\u00fcnde artt\u0131\u011f\u0131na, ana e\u011filimdeki art\u0131\u015f\u0131n ise s\u0131n\u0131rl\u0131 kald\u0131\u011f\u0131na i\u015faret etti\u011fi bildirildi. TCMB br\u00fct rezervleri ge\u00e7en hafta 205,2 milyar dolardan 215,6 milyar dolara y\u00fckselirken, net rezervler ise 91,0 milyar dolardan 97,4
\nmilyar dolara y\u00fckseldi. Swap hari\u00e7 net rezervler ise 78,8 milyar dolardan 85,5 milyar dolara \u00e7\u0131kt\u0131. ABD\u2019de i\u015fsizlik maa\u015f\u0131 ba\u015fvurular\u0131 ge\u00e7en hafta 209 bin ki\u015fi ile beklentilerin hafif \u00fczerinde art\u0131\u015f kaydederken, d\u0131\u015f ticaret dengesi kas\u0131mda 56,8 milyar dolar ile beklentilerin \u00fczerinde a\u00e7\u0131k verdi. Verilerin fiyatlamalara etkisi olmad\u0131. Dolar\/TL, bu sabah saat 08:00 itibariyle 43,48 civar\u0131nda seyrediyor.”<\/p>\n
<\/strong> \u0130stanbul, 30 Ocak (Hibya)- Gedik Yat\u0131r\u0131m, Asya piyasalar\u0131nda MSCI Asya endeksi gerilerken, ABD vadeli endekslerinde de kay\u0131plar izlendi\u011fini bildirdi. <\/p>\n","protected":false},"author":1,"featured_media":40242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow07ekDA:productID":"","footnotes":""},"categories":[12,1],"tags":[],"class_list":["post-40241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spor","category-ekonomi"],"_links":{"self":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/40241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/comments?post=40241"}],"version-history":[{"count":0,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/40241\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media\/40242"}],"wp:attachment":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media?parent=40241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/categories?post=40241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/tags?post=40241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nEKONOM\u0130 GAZETES\u0130 <\/p>\n","protected":false},"excerpt":{"rendered":"