2023-04-26 01:20:09
© Reuters.
Sales of public securities to individuals over the internet totaled R$ 6.842 billion in March, announced this Tuesday (24) the National Treasury. This is the highest monthly volume sold since the launch of the Treasury Direct Program in 2002.
The volume represents an increase of 65.6% compared to that recorded in the same month last year (R$ 4.132 billion). The previous monthly record had been recorded in May 2019, when sales had reached BRL 5.861 billion.
The securities most sought after by investors were those corrected by the Selic (basic interest rates for the economy), whose share in sales reached 63.1%. Inflation-linked securities (Extended National Consumer Price Index – IPCA) accounted for 20.7% of the total, while prefixed securities, with interest set at the time of issuance, accounted for 12.5%. Destined to finance retirements, the RendA+ Treasury, launched at the beginning of the year, accounted for 3.7% of sales.
Interest in securities linked to basic interest rates is justified by the high level of the Selic Rate. In March 2021, the Central Bank (BC) started raising the Selic rate. The rate, which was at 2% a year, at the lowest level in history, jumped to 13.75% a year and has been at that level since August 2022.
For the first time, the total Treasury Direct stock exceeded the R$ 110 billion mark. At the end of March, the volume of securities associated with the program totaled R$ 110.474 billion, an increase of 2.2% compared to the previous month (R$ 108.099 billion) and 27.84% compared to March last year (R$ $86.414 billion). This increase occurred because sales surpassed redemptions by R$ 1.061 billion last month.
Investors
Regarding the number of investors, 368.6 thousand new participants registered in the program last month. The total number of investors reached 23,724,147. In the last 12 months, the number of investors accumulates an increase of 32.6%. The total number of active investors (with open operations) reached 2,141,535, an increase of 12.67% in 12 months.
The use of the Direct Treasury by small investors can be observed by the considerable number of sales of up to R$ 5 thousand, which corresponded to 76.7% of the total of 489,507 sales operations that took place in March. Investments of up to R$ 1,000 alone accounted for 53.5%. The average value per operation was R$ 9,782.67.
Investors are preferring medium-term stocks. Sales of bonds with terms between 1 and 5 years represented 37.9% and those with terms between 5 and 10 years, just 45.4% of the total. Bonds with terms of more than ten years accounted for 16.7% of sales.
The complete balance sheet of the Direct Treasury is available on the
Fund-raising
The Direct Treasury was created in January 2002 to popularize this type of application and allow individuals to acquire public securities directly from the National Treasury, via the Internet, without the intermediation of financial agents.
The investor only needs to pay a semi-annual fee to the B3 (BVMF:), the Brazilian stock exchange, which has custody of the securities. More information can be obtained from the
The sale of securities is one of the ways the government has to raise funds to pay debts and honor commitments. In exchange, the National Treasury undertakes to return the amount with an additional fee that may vary according to the Selic rate, inflation rates, exchange rates or a rate defined in advance in the case of pre-fixed securities.
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