Secondary market attracts fixed income investors
Many Brazilian investors are already familiar with the primary public bond market, accessed mainly through Tesouro Direto. In this model, the investor buys public bonds directly from the federal government through the official platform.
However, there is also the secondary market for public securities, an environment in which investors trade among themselves the same securities issued by the National Treasury.
The bonds continue to offer the same profitability originally predicted, but trading takes place directly between investors, normally through brokers.
One of the main differences in the secondary market is the operating costs. While Treasury Direct charges the B3 fee of 0.2% per year for most securities - with the exception of the Treasury Selic for investments of up to R$10,000 -, some brokers offer access to the secondary market without this charge.
According to Marilia Fontes, presenter of Resenha do Dinheiro, investors see the secondary market as a more advantageous alternative due to the possibility of reducing costs.
Despite this, Marilia considers that investors need to pay attention to the rates offered in negotiations.
"Sometimes, securities on the secondary market appear with rates that are very different from those practiced on Tesouro Direto. Therefore, before investing, it is worth checking with Tesouro Direto or on the Anbima website (Brazilian Association of Financial and Capital Market Entities) to compare the conditions and avoid paying more on this rate differential", he explains.
Therefore, comparing the rates charged before investing is essential, as small differences can significantly impact long-term profitability.
The secondary market for public securities was the subject of the panel "Investor Chat", presented by Marilia Fontes in this week's Dinheiro Review.
Dinheiro Review
Carried out with the support of B3 and the investment manager BlackRock, the program is presented by Thiago Godoy, the "Financial Daddy", Marilia Fontes, founding partner of Nord Investimentos; Bernardo Pascowitch, founder and CEO of Yubb, proposes a light, direct and uncomplicated approach to topics related to financial education and investments. The attraction addresses the main themes of the economy weekly with the informality of a conversation between friends - without compromising on analysis.
The Money Review airs every Friday, at 7pm, on the CNN Money YouTube channel and on Sundays, at 3pm, on CNN Brasil.
Source: CNN