{"id":314789,"date":"2021-08-03T20:18:00","date_gmt":"2021-08-03T17:18:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/market-extra-how-investors-are-using-alternative-data-to-track-the-inflation-debate\/"},"modified":"2021-08-03T20:18:00","modified_gmt":"2021-08-03T17:18:00","slug":"market-extra-how-investors-are-using-alternative-data-to-track-the-inflation-debate","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/market-extra-how-investors-are-using-alternative-data-to-track-the-inflation-debate\/","title":{"rendered":"#Market Extra: How investors are using alternative data to track the inflation debate"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ac4542101d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ac4542101d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/market-extra-how-investors-are-using-alternative-data-to-track-the-inflation-debate\/#William_Watts\" >William Watts<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Market Extra: How investors are using alternative data to track the inflation debate<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000357740\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000357740\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>With the debate over inflation dominating financial markets as the global economy reopens from the COVID-19 pandemic, investors are turning to a number of so-called alternative-data sources in an effort to get a more timely read on what\u2019s h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ening to prices around the world.<\/p>\n<p>While readings on the U.S. consumer-price index, producer-price index, and the Federal Reserve\u2019s favorite measure \u2014 the personal consumption expenditure deflator \u2014 all come around once a month, they\u2019re offering up a backward-looking picture of where prices stood around three to four weeks earlier.<\/p>\n<div class=\"paywall\">\n<p>\u201cThis is where real-time alternative data comes in,\u201d said Yin Luo, senior analyst at Wolfe Research,  in a phone interview, offering \u201ca more timely measure of the price movements than the official data, which tends to be delayed.\u201d<\/p>\n<p><strong>Sign up:<\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bigmarker.com\/barrons-events\/Aug-4-MarketWatch-Alternative-Data-What-Investors-Need-to-Know\" class=\"icon none\">Barron\u2019s Live at noon ET on Aug. 4: Alternative data \u2014 What investors need to know<\/a><\/p>\n<p>The ability to get a more timely read on market-sensitive data trends has been driving the widespread adoption of alternative data for years, but the COVID-19 pandemic may have supercharged interest as investors and economists scrambled to make sense of a largely unprecedented  near-shutdown of economies and a subsequent, vaccine-enabled reopening that\u2019s been plagued by supply-chain kinks and complicated by the spread of coronavirus variants.<\/p>\n<p>Interest in macro-focused alternative data has likely quadrupled since the pandemic, said Luo.<\/p>\n<p>Meanwhile, the so-called reflation trade \u2014 a bet that assets more sensitive to the economic cycle or otherwise poised to benefit from a surge in inflation would outperform their peers \u2014 has waxed and waned in 2021. Its path has depended on whether investors see inflation as in danger of soaring and possibly turning into a spiral or more likely to prove, in the Fed\u2019s preferred term, transitory.<\/p>\n<p>One of the more well-known resources comes from PriceStats, a business that grew out of a Massachusetts Institute of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> initiative known as the Billion Prices Project in 2008. The project grew out of research conducted by economists Alberto Cavallo, now at Harvard, and Roberto Rigobon. <\/p>\n<p>PriceStats, which joined with State Street in 2011 to bring its data to the financial services sector, scrapes the web, tracking daily changes in prices across a huge basket of goods in 23 economies. PriceStats focuses solely on \u201cmultichannel\u201d retailers who offer products both online and offline, which cuts out big online-only retailers, including e-commerce juggernaut Amazon.com Inc.<br \/>\n        AMZN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210331248\/composite\" class=\"positive\">+1.77%<\/bg-quote><span>.<\/span>\n      <\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>PriceStats scrapes product descriptions and prices, sorting them into classifications. It computes price changes each day and uses official weightings used in a particular country\u2019s inflation gauge to create an index.<\/p>\n<p>The result is a real-time look at a broad basket of goods for each country. Of course, not everything is online. And PriceStats, for example, doesn\u2019t track used-car prices, which have skewed U.S. inflation data in recent months. It also doesn\u2019t track house prices, for example, but offers proxies, such as building supplies, which have historically tracked those prices closely.<\/p>\n<p>The data offers a look at inflationary pressures with a roughly two-day lag, as opposed to the lag of several weeks offered by official data, said Marvin Loh, senior global market strategist at State Street, in an interview. Equally important is having a price <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> for 21 different countries, he said, because inflation is a global topic, making it useful to see how global price pressures are manifesting themselves in individual countries and regions.<\/p>\n<p>Loh said he\u2019s found that online prices adjust more quickly than prices on the shelves. In 2020, when the pandemic hit, prices tracked by PriceStats fell much more quickly than was reflected by the official data. On the rebound, the basket was showing stabilization making its way into prices, while official data has reflected items not in the basket such as used cars and airline tickets.<\/p>\n<p>The takeaway is that the data showed upward pressure relative to what a normal June or July would look like, \u201cbut not accelerating the way it did in early spring into summer.\u201d<\/p>\n<p>Investors can also attempt to discern expectations around inflation by tracking <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> stories. Ravenpack, an alternative-data provider that specializes in using natural language processing (NLP) to analyze news, said the approach yielded insights into a shift in investor expectations about inflation in May.<\/p>\n<p>Ravenpack sets up systems for clients that track particular topics, with each news story being assigned a sentiment score, explained Inna Grinis, head of macro strategy at the company. <\/p>\n<p>An article about rising inflation would receive a negative sentiment score, for example. The score also takes into account any magnitudes mentioned in the story, she explained. For example, if an article reported that inflation climbed 4%, the score would be larger than if prices were up by 1%.<\/p>\n<p>The data provided insights to clients perplexed by a pullback in U.S. Treasury yields after a spike earlier this year that had been attributed in part to expectations for a lasting resurgence in inflation. The chart below tracks the weekly counts of news articles containing the words \u201creflation\u201d versus \u201ctransitory\u201d and \u201cinflation\u201d in headlines.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:43.57142857142857%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-379597?width=540&amp;size=2.2980251346499103 540w, https:\/\/images.mktw.net\/im-379597?width=620&amp;size=2.2980251346499103 620w, https:\/\/images.mktw.net\/im-379597?width=639&amp;size=2.2980251346499103 639w, https:\/\/images.mktw.net\/im-379597?width=700&amp;size=2.2980251346499103 700w, https:\/\/images.mktw.net\/im-379597?width=700&amp;size=2.2980251346499103&amp;pixel_ratio=1.5 1050w, https:\/\/images.mktw.net\/im-379597?width=700&amp;size=2.2980251346499103&amp;pixel_ratio=2 1400w, https:\/\/images.mktw.net\/im-379597?width=700&amp;size=2.2980251346499103&amp;pixel_ratio=3 2100w\" sizes=\"(max-width: 639px) 100vw, (max-width: 979px) 620px, (max-width: 1299px) 540px, 700px\" src=\"https:\/\/images.mktw.net\/im-379597?width=700&amp;height=305\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><span class=\"wsj-article-credit article__inset__image__caption__credit\" itemprop=\"creator\"><br \/>\n            Ravenpack<br \/>\n          <\/span><br \/>\n  <\/figcaption><\/figure>\n<\/div>\n<p>Grinis said the approach allows users to track the importance of the \u201creflation\u201d and \u201ctransitory inflation\u201d narratives in market commentary in real time.<\/p>\n<p>The chart shows the reflation narrative began gaining momentum in the summer of 2020, peaking in late February and early March, before the 10-year Treasury note yield<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">1.175%<\/bg-quote><br \/>\n       peaked out in late March just shy of 1.80%. On June 10, when the core consumer-price index came in at a stronger-than-expected 0.7% monthly rise, bond yields continued to decline, in line with the transitory inflation narrative, Grinis noted.<\/p>\n<p>Since mid-June the reflation and transitory inflation narratives seem to be oscillating in importance, Grinis said. The reflation narrative rose around the release of June CPI data on July 13, which again came in much hotter than expected. The 10-year yield initially moved higher, but then fell back, in line with a fall in reflation concerns, she said.<\/p>\n<p>The 10-year yield on Monday dipped below 1.15% to its lowest level in nearly six months. The U.S. stock market, meanwhile, has continued to climb over the course of 2021, but with different sectors and styles moving in and out of favor as expectations around inflation have shifted.<\/p>\n<p>The Dow Jones Industrial Average<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"positive\">+0.56%<\/bg-quote><br \/>\n       is up more than 14% year to date, while the S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+0.60%<\/bg-quote><br \/>\n       has advanced more than 17% and the tech-heavy Nasdaq Composite<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"positive\">+0.35%<\/bg-quote><br \/>\n       is up more than 14%.<\/p>\n<p>NLP analysis can also be used by firms to monitor conference calls and corporate 10-Q and 10-K filings, which can give an aggregate view on rising input prices, plans to pass along price increases and other inflation markers, said Wolfe Research\u2019s Luo.<\/p>\n<p>While not as timely as data on spending or prices, such readings can offer insights on labor costs and labor shortages, such as rising pay at most big banks for junior bankers, Luo said. It also pays to scan central bank policy announcements, speeches and other documents to pick out patterns.<\/p>\n<p>Of course, many alternative data sets are well out of the price range of individual investors. Moreover, no single data set should be viewed as a silver bullet that will give an investor the key to instant outperformance.<\/p>\n<p>Using alternative data in addition to traditional data provides a more diverse set of inputs. As Luo has previously described, it echoes the investment-industry adage that describes holding a diversified basket of assets as the only \u201cfree lunch\u201d in finance. The same principle applies to data.<\/p>\n<p>But investors don\u2019t necessarily have to break the bank to incorporate real-time data insights, said Nicholas Colas, co-founder of DataTrek Research.<\/p>\n<p>\u201cOur approach to data is to use freely available resources to evaluate market narratives,\u201d he said in a July 23 note. \u201cBecause of the economic dislocations over the last 18 months, headline numbers \u2014 and the stories they seem to tell \u2014 are often misleading or just wrong.\u201d<\/p>\n<p>How the U.S. consumer responds to inflation is a key question for investors in the second half of this year, Colas said. DataTrek\u2019s approach is to look at the volume of U.S.-based Google searches for terms like \u201ccheap\u201d and \u201cdiscount.\u201d<\/p>\n<p>\u201cAn uptick would signal rising concerns about inflation that could lead to declining consumer demand,\u201d he said. An updated chart (see below) showing search volumes since January 2019 shows that hasn\u2019t started to happen. With volumes for both terms stable, stagflation doesn\u2019t appear \u201ceven close to being an issue for the U.S. economy.\u201d<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:46.57142857142857%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-378196?width=540&amp;size=2.1440536013400333 540w, https:\/\/images.mktw.net\/im-378196?width=620&amp;size=2.1440536013400333 620w, https:\/\/images.mktw.net\/im-378196?width=639&amp;size=2.1440536013400333 639w, https:\/\/images.mktw.net\/im-378196?width=700&amp;size=2.1440536013400333 700w, https:\/\/images.mktw.net\/im-378196?width=700&amp;size=2.1440536013400333&amp;pixel_ratio=1.5 1050w, https:\/\/images.mktw.net\/im-378196?width=700&amp;size=2.1440536013400333&amp;pixel_ratio=2 1400w, https:\/\/images.mktw.net\/im-378196?width=700&amp;size=2.1440536013400333&amp;pixel_ratio=3 2100w\" sizes=\"(max-width: 639px) 100vw, (max-width: 979px) 620px, (max-width: 1299px) 540px, 700px\" src=\"https:\/\/images.mktw.net\/im-378196?width=700&amp;height=326\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><span class=\"wsj-article-credit article__inset__image__caption__credit\" itemprop=\"creator\"><br \/>\n            Google<br \/>\n          <\/span><br \/>\n  <\/figcaption><\/figure>\n<\/div>\n<p>The example, Colas said, shows that with \u201cthe wealth of no-cost information available now, it is possible to find the real story. You just have to know where to look.\u201d<\/p>\n<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"William Watts\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/author\/william-watts\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/wlwatts\",\"text\":\"@wlwatts\"},{\"type\":\"link\",\"icon\":\"facebook\",\"url\":\"https:\/\/facebook.com\/williamwattsmarkets\",\"text\":\"williamwattsmarkets\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:bwatts@marketwatch.com\",\"text\":\"bwatts@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"William_Watts\"><\/span>William Watts<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7575-6C1C91A6F08B%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Market Extra: How investors are using alternative data to track the inflation debate&#8221; With the debate over inflation dominating financial markets as the global economy reopens from the COVID-19 pandemic, investors are turning to a number of so-called alternative-data sources in an effort to get a more timely read on what\u2019s happening to prices around&#8230;<\/p>\n","protected":false},"author":1,"featured_media":314790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-314789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/314789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=314789"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/314789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/314790"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=314789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=314789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=314789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}