It was the smallest auction in DV01 since December 18, 2025
After the stress on the interest curve on Wednesday, 13th, with “Flávio Day”, the This Thursday, the 14th, the Treasury opted for a restrained approach and offered very small lots of pre-fixed bonds. Interest rates fell this Thursday, but rose sharply the day before the senator and presidential candidate, Flávio Bolsonaro (PL-RJ) asked Daniel Vorcaro, owner of Banco Master, for money to pay expenses for the film about the story of the former president of the Republic, Jair Bolsonaro.
“It’s a minimal auction with the Treasury avoiding adding volatility to the markets, despite the improvement in the external market. Yesterday’s news had a big impact on the market and the electoral scenario became more uncertain. Rates are closing today after a significant rise yesterday. With this size of auction, the Treasury is helping to calm the market”, explains the chief macro and public debt strategist at Warren Investimentos, Luis Felipe Vital.
This Thursday, the Treasury offers 450 thousand National Treasury Bills (LTN) and 450 thousand National Treasury Notes – Series F (NTN-F).
Last week there were 8.5 million LTN, and 4.5 million NTN-F.
The risk for the market in DV01 was US$42,700, 92% lower than the previous auction, and the financial risk was 93% lower, according to Warren.
It was the smallest auction in DV01 since December 18, 2025.
