Sales of Treasury Direct public securities to individuals over the internet totaled BRL 42.417 billion in 2022, while redemptions totaled BRL 25.989 billion. As a result, net issues amounted to R$16.428 billion last year. The data were released today (25), with the results for the last month of 2022, by the National Treasury.
In December of last year, sales exceeded redemptions by R$1.085 billion. In the month, securities sales reached R$3.463 billion, and redemptions reached R$2.377 billion, all related to securities repurchases. There were no redemptions by maturity, when the term of the bond expires and the government needs to repay the investor with interest.
The securities most sought after by investors in December were those corrected by the basic interest rate, the Selic, which corresponded to 61.5% of the total. Inflation-linked securities accounted for 27.4% of sales, and fixed-rate securities, with interest defined at the time of issuance, for 11.1%.
From March 2021 to August 2022, the Central Bank (BC) increased the Selic rate. The rate, which was at 2% per year, at the lowest level in history, jumped to 13.75% per year since then. High interest rates continue to attract interest in securities linked to basic interest rates.
The total stock of the Direct Treasury reached R$ 105.10 billion at the end of December, with an increase of 2.1% in relation to the previous month (R$ 102.98 billion) and of 32.7% in relation to December of the year last year (R$ 79.20 billion).
Investors
As for the number of investors, 434,314 new participants registered for the program last month. The number of investors reached 22,483,236, up 37.9% over the last 12 months. The total number of active investors (with outstanding operations) reached 2,129,196, an increase of 17.4% in 12 months. In December, there was an increase of 19,626 new active investors.
The demand for Treasury Direct by small investors can be observed by the considerable number of sales of up to R$ 5 thousand, which corresponded to 82.7% of the total of 582,388 sales operations that took place in December 2022. Only investments of up to R$ 1 thousand represented 58.7%. The average value per operation was R$ 5,946.68.
Investors are preferring short- and medium-term bonds. Sales of bonds with terms from 1 to 5 years represented 80.5% and those with terms from 5 to 10 years, 5.1% of the total. Papers with maturities of more than 10 years accounted for 14.4% of sales in December.
THE full balance sheet of the Direct Treasury It is available on the National Treasury website.
source of funds
The Direct Treasury was created in January 2002 to popularize the application and allow individuals to purchase public securities directly from the National Treasury, over the internet, without the intermediation of financial agents. The investor only needs to pay a fee to the broker responsible for the custody of the securities, which is B3, the Brazilian stock exchange.
More information can be obtained from the site do treasury direct.
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, the exchange rate or a rate defined in advance in the case of fixed-rate securities.
