In view of the high interest rates to contain the inflation, investors are starting to turn their eyes to fixed income investments, especially government bonds such as Direct Treasure.
According to the latest Focus Bulletin, released on Monday, Brazil should end the year with an IPCA, an index that measures inflation, of 7.27% and a Selic of 7.5%.
For the month of September, the Santander recommends the IPCA+ Treasury, without payment of semiannual interest, due to greater fiscal efficiency, maturing in 2026.
“With prospects of new interest rate hikes and mixed economic indicators, we recommend a positioning that protects investors from the bias of higher inflation,” he points out.
In the broker’s view, this security has the most positive asymmetry between risk and return, given the fiscal uncertainties.
Also according to Santander, the month should be marked by diplomatic dissonances between the three Powers, as well as the advance of the PEC dos Precatórios and the Income Tax Reform, will continue to share the focus of investors with other economic indicators, such as the Brazil’s GDP for the second quarter.
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