Treasury Direct: sale of government bonds totals BRL 4.36 billion in January, the highest in more than three years

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Movement accompanies high interest rates, which improves the profitability of bonds. The total balance (stock) of securities on the market in the hands of individuals totaled R$105.6 billion in January of this year. Sales of public securities through the Direct Treasury system totaled US$ 4.36 billion in January this year, informed the Ministry of Economy this Tuesday (28). This is the highest value since May 2019, when it totaled R$ 5.9 billion, that is, in more than three years. Treasury Direct is a program created in January 2002 and allows individuals to buy public securities over the internet. The strong demand for public bonds took place in a month of high maturities of public bonds and, also, of an increase in the economy’s basic interest rate, currently the highest in more than six years, which increases the remuneration of the securities offered by the federal government and, consequently, the attractiveness for investors. In addition to the increase in interest rates to contain inflation, government bonds have also yielded more in recent months, due to tensions involving the Central Bank, with attacks by President Luiz Inácio Lula da Silva, and investor doubts about the public accounts. These factors further raised the futures market yield curve — which serves as the basis for the Direct Treasury rates. According to the National Treasury, public bond redemptions totaled R$ 4.81 billion last month. As a result, there was a net redemption, that is, the difference between the amount withdrawn from the market and issues, of R$447 million. Total balance and number of investors According to the National Treasury, the total balance (stock) of securities on the market in the hands of individuals totaled BRL 105.6 billion in January of this year, against BRL 105.1 billion at the end of 2022. In October last year, the balance surpassed the R$ 100 billion mark for the first time. The total number of active investors in the Direct Treasury, that is, those who currently have a balance in applications, reached the mark of 2.09 million people in December 2022, against 2.12 million at the end of the previous year. The number of investors registered in the program reached 23.02 million people, compared to 22.48 million people at the end of 2022.

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