The rates of Treasury Direct bonds are operating on the rise this Tuesday (12), after the release of the minutes of the Monetary Policy Committee (Copom).
In the first update of the day, at 9:30 am, the yields of the fixed-rate bonds 2027, 2031 and the one with semiannual interest 2035 were up at 13.21%, 12.95% and 12.65%, against the previous 13.18%, 12.90% and 12.60%, respectively.
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While the rates of the IPCA+ Treasury bonds maturing in 2029, 2035 and 2045 yielded 6.81%, 6.60% and 6.58%, respectively. Bonds were trading higher, having closed the last session at 6.79%, 6.57% and 6.63%.
On Tuesday, the market received the minutes of the Copom meeting, which emphasized that the largest increase in the Selic rate was due to current economic conditions and prospective uncertainties. The monetary authority chose to raise the rate by 0.50 percentage points (p.p.) at last week’s meeting, to 11.25% per year.
According to members of the Central Bank, the decision reflects the commitment to converge inflation to the target, “essential for the continuous construction of credibility”.
In addition, the market is waiting to see how large the spending cuts that the government and the economic team are about to announce will be, with projections ranging from R$30 billion to R$60 billion. However, spending containment measures should be announced after the G20, which will take place next week.