Second biggest record in the history of Tesouro Direto arrives driven by Selic and IPCA

Tesouro Direto, a platform for selling government bonds to individuals online, recorded a robust July, with sales totaling R$6.4 billion. This figure represents the second-highest monthly volume in the history of the program, which was created in 2002. The previous record was set in March 2023, when sales reached R$6.84 billion.

_{Money on the table (Photo: Reproduction/IstockPhoto/kikinunchi)}

The significant increase in sales in July can be attributed to two main factors. First, there was a substantial repurchase of Selic-linked bonds by the Treasury, which were replaced by new securities. Second, issuances of inflation-adjusted bonds reached a monthly peak, with R$2.32 billion in sales.

The securities most in demand by investors were those adjusted for inflation (IPCA), which accounted for 42.5% of sales. Securities linked to the Selic rate accounted for 38.9% of the total, while fixed-rate securities, with interest rates set at the time of issuance, accounted for 14.1% of sales.

Attractive rates explain high demand

Investors' interest in Selic-linked bonds may be justified by the high level of the basic interest rate. Since July 2021, the Central Bank has begun a cycle of raising the Selic, which went from a level of 2% per year to 13.75% per year between January 2022 and August 2023. Despite the recent drops, which took the rate to 10.5% per year, the rates are still considered attractive and there are expectations of further increases at the next meeting of the Monetary Policy Committee.

The total Treasury Direct stock reached R$145.39 billion at the end of July, representing an increase of 1.53% compared to the previous month and 21.17% compared to July last year. This growth is a reflection of sales that exceeded redemptions by R$1 billion in the period analyzed.

_{Focus on financial analysis (Photo: Reproduction/Freepik)}

Program accessibility and popularity

As for the investor profile, the platform continues to attract a growing number of participants. In July, 335.6 thousand new investors registered in the program, bringing the total number of investors to 29.3 million. The number of active investors, those with open trades, reached 2.6 million, an increase of 16.02% in 12 months.

The use of Tesouro Direto by small investors is evident in the considerable volume of sales of up to R$5,000, which represented 80.1% of total sales transactions in the month. This demonstrates the accessibility and popularity of the program among investors of different profiles and financial capabilities.

Featured Photo: Financial Chart (Photo: Reproduction/WallpaperCave/Vasanth07192001)