Rates rise with expectations of high inflation in the Focus Bulletin this Monday

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Treasury Direct bond rates operate this Monday (16), after the publication of the Focus Bulletin.

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In the first update of the day, at 9:43 am, the rates for IPCA+ Treasury bonds maturing in 2029 , 2035 and 2045 yielded 6.38%, 6.25% and 6.29%, respectively. Compared to the last closing price, the bonds were trading higher, as they closed at 6.33%, 6.21% and 6.25%.

The yields on the fixed-rate bonds 2027 , 2031 and the semi-annual interest bond 2035 were at 11.82%, 12.06% and 11.97%, against the previous 11.80%, 12.00% and 11.92%, respectively.

This morning, the new projections from the Focus Bulletin were released. The economists consulted by the Central Bank raised their forecast for this year’s inflation for the ninth time, from 4.30% to 4.35%.

For 2025 and 2026, expectations for the Broad Consumer Price Index ( IPCA ) rose to 3.95% and 3.61%, respectively, and for 2027, they remain at 3.50%.

The projection for Selic at the end of 2025 was raised again, to 10.50%. The estimates for 2024, 2026 and 2027 remained stable and interest rates are expected at levels of 11.25%, 9.50% and 9%.

Meanwhile, U.S. Treasuries were falling, with the 5, 10 and 30 note notes rising 3.41%, 3.64% and 3.96%, respectively.