The general coordinator of National Treasury Public Debt Operations, Luis Felipe Vital, said this Tuesday (28) that the net redemption of government bonds in January, which totaled R$ 230.74 billion, was the highest in the historical series . According to him, the highest so far was recorded in March 2021, when it totaled BRL 204.6 billion.
The gross redemption was the second largest, behind only April 2021. Vital also stated that January recorded the highest tower of expected maturities for 2023. He also pointed out that the public debt share of fixed-rate securities, currently at 23.47% , is the lowest since November 2005.
“We will only have relevant fixed-rate maturities now in July 2023. The share of Selic papers in the federal public debt is the highest since April 2006. The increase in non-residents in January is explained by a benign scenario”, he said.
The liquidity reserve, which is at BRL 953.39 billion, is the lowest since February 2021. According to Vital, the mattress may undergo major changes due to maturity towers.
“The liquidity reserve is 7.62 months of public debt maturities and the prudential minimum is three months. The Treasury is comfortable calibrating monthly issues with market conditions,” he declared.
External market
Vital said that January was a positive month for the foreign market, with risk appetite. “Investors began to reassess their expectations about US monetary policy, with a more benign scenario. On the other hand, the risk perception of emerging countries has been falling, including Brazil”, he said.
Vital declared that there was a lot of noise in the country, with intense domestic news on monetary policy and inflation. President Luiz Inácio Lula da Silva harshly criticized the Central Bank, the interest rate level and the inflation targeting system. As a result, average rates rose more over longer terms.
In view of the volatility in January, issues of National Treasury bonds were 30% lower than in January 2022, but in the average of last year.
Fed
The General Coordinator of Public Debt Operations of the National Treasury said that in February stronger data were recorded for inflation, employment and activity in the United States.
“Federal Reserve officials made tougher speeches on monetary tightening. The domestic news continued to be intense in February, with an increase in the slope of the curve”, he declared.
Source: CNN Brasil
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