Sales of public securities to individuals via the internet totaled R$5.65 billion in October, the National Treasury announced this Friday (29). Compared to September, sales fell 16.6%, but rose 69.8% compared to October last year, reaching the best level for the month since the program was created in 2002.
The main factor that contributed to the sales volume was the interest on securities adjusted by the Selic Rate (basic interest rates in the economy). In addition to the increase in demand for these securities, there was an expiration of securities that were exchanged for new securities. In October, sales of securities linked to Selic totaled R$2.52 billion. Redemptions, including maturities and repurchases, totaled R$1.99 billion.
The securities most sought after by investors in October were those linked to basic interest rates, whose share of sales totaled 44.6%. Inflation-adjusted securities (Extended National Consumer Price Index – IPCA) corresponded to 38.1% of the total, while pre-fixed securities, with interest rates defined at the time of issuance, totaled 12.4%.
Intended for financing retirements, Tesouro Renda+, launched at the beginning of 2023, accounted for 3.7% of sales. Created in September last year, the new Treasury Educa+ title, which aims to finance savings for higher education, attracted just 1.2% of sales.
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 October, was raised to 11.25% per year. With the expectation of new highs, shares remain attractive. Inflation-linked bonds have also attracted investors because of the expectation of a rise in official inflation in the coming months.
The total Treasury Direct stock reached R$147.04 billion at the end of October, an increase of 2.73% in relation to the previous month (R$143.12 billion), but an increase of 17.66% in relation to October last year (R$ 123.36 billion). This increase occurred because sales exceeded redemptions by R$2.53 billion last month.
Investors
Regarding the number of investors, 320,183 participants registered in the program last month. The total number of investors reached 30,235,353, surpassing the 30 million mark for the first time in history. In the last 12 months, the number of investors has increased by 15.4%. The total number of active investors (with open operations) reached 2,698,426, an increase of 11.2% in 12 months.
The use of Tesouro Direto by small investors can be observed by the considerable number of sales of up to R$5,000, which corresponded to 80.7% of the total 782,713 sales transactions that took place in October. Investments of up to R$1,000 alone represented 56.3%. The average value per operation reached R$7,215.21.
Investors are preferring short-term roles. Sales of bonds of up to five years represent 68.2% of the total. Operations with terms between five and ten years correspond to 9.4% of the total. Papers with a maturity of more than ten years represented 22.4% of sales.
The complete balance sheet of Tesouro Direto is available on the 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 semi-annual fee to B3, the Brazilian stock exchange, which has custody of the securities. More information can be obtained at website Treasury Direct.
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.
