Sales of public securities to individuals via the internet broke a record for the months of October, the National Treasury announced this Wednesday (26). Last month, Tesouro Direto sold R$7.17 billion in securities.
The value is 4.59% higher than in September, when Tesouro Direto sales totaled R$6.86 billion. Compared to October last year, it is 27.03% higher.
The sales record for all months was recorded in March this year, when R$11.69 billion were sold.
The securities most sought after by investors in October were those linked to basic interest rates, whose share of sales totaled 48.1%. Inflation-adjusted securities (Extended National Consumer Price Index – IPCA) corresponded to 32.2% of the total, while pre-fixed securities, with interest rates defined at the time of issuance, totaled 10.6%.
Intended for financing retirements, Tesouro Renda+, launched in early 2023, accounted for 7.2% of sales. Created in August 2023, the new Treasury Educa+ title, which aims to finance savings for higher education, attracted just 1.9% of sales.
Interest
The interest in securities linked to basic interest rates is justified by the high level of the Selic Rate. The rate, which was 10.5% per year until September last year, was raised to 15% per year. With high interest rates, securities remain attractive. Inflation-linked bonds have also attracted investors due to the expectation of a rise in official inflation in the coming months.
The total Treasury Direct stock surpassed the R$200 billion mark for the first time, reaching R$200.97 billion at the end of October, an increase of 2.89% compared to the previous month (R$180.35 billion) and an increase of 36.68% compared to October last year (R$145.39 billion). This increase occurred because of the interest rate correction and because sales exceeded redemptions by R$3.71 billion in the last month.
Investors
Regarding the number of investors, 238,716 participants became part of the program last month. The total number of investors reached 33,766,759. In the last 12 months, the number of investors has increased by 11.7%. The total number of active investors (with open operations) reached 3,257,794, an increase of 20.7% in 12 months.
The use of Tesouro Direto by small investors can be seen in the considerable number of sales of up to R$5,000, which corresponded to 80.2% of the total 969,001 sales transactions that took place in October. Investments of up to R$1,000 alone represented 56.2%. The average value per operation reached R$7,631.62.
Investors are preferring short-term roles. Sales of bonds of up to five years represent 54.9% of the total. Operations with terms between five and ten years correspond to 27.3% of the total. Papers with a maturity of more than ten years represented 17.7% of sales.
The complete balance sheet of Tesouro Direto is available at Transparent Treasury page.
Fundraising
Tesouro Direto was created in January 2002 to popularize this type of application and allow individuals to purchase public securities directly from the National Treasury, via the internet, without the intermediation of financial agents. The investor only needs to pay a fee to B3, the Brazilian stock exchange, discounted on securities movements. More information can be obtained at Treasury Direct website.
The sale of bonds is one of the ways that the government has to raise resources 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 rate or a rate defined in advance in the case of pre-fixed securities.
