O ERRO que MUITOS COMETEM ao INVESTIR no TESOURO IPCA+! TESOURO IPCA+ 2029, 2040 OU 2050?

Summary

This video provides an in-depth explanation of how to choose the right Treasury Direct securities (Tesouro IPCA+) based on investment goals. It discusses the difference between the long-term and medium-term options, the impact of market fluctuations on returns, and the concept of marking securities to market. The video highlights how investors can make the most out of their investments, whether through holding until maturity or leveraging market fluctuations, while advising caution for beginners. The focus is on achieving the best possible returns while understanding the risks and tax implications associated with these fixed-income investments.

Takeaways

• 😀 Understand the importance of aligning the maturity of Tesouro IPCA+ bonds with your financial goals (medium or long term).
• 😀 Short-term investors should avoid choosing longer maturities (e.g., 2040 or 2050) due to potential mark-to-market fluctuations.
• 😀 If you intend to hold until maturity, you are guaranteed the initial rate of return, even if the bond's market value fluctuates.
• 😀 Early redemption of bonds exposes investors to the risk of mark-to-market, potentially leading to losses if the bond price falls.
• 😀 When choosing between different maturities, consider your investment horizon: 2029 for medium-term and 2040 or 2050 for long-term goals.
• 😀 Bonds with longer maturities (e.g., 2040 or 2050) experience greater price volatility due to interest rate changes.
• 😀 To make money from mark-to-market fluctuations, investors need to have market knowledge and should only invest money they don’t need immediately.
• 😀 The price of bonds is inversely related to interest rates: when rates rise, bond prices fall, and vice versa.
• 😀 For investors who are risk-averse or new to investing, it’s recommended to focus on holding bonds until maturity rather than trying to profit from market fluctuations.
• 😀 Historical data shows that in the past 15 years, only 0.4% of the time did the Tesouro IPCA+ bond rates exceed 7.5%, making current rates a good opportunity for long-term investors.
• 😀 Diversification is key to investing in Tesouro IPCA+ bonds. A mix of different maturities in your portfolio helps manage risks and improve returns.

Q & A

What is the primary advantage of investing in Tesouro IPCA+ without a coupon?

The primary advantage of investing in Tesouro IPCA+ without a coupon is that it avoids the issue of receiving periodic interest payments, which would be subject to taxation and require reinvestment. This is particularly beneficial for investors in the accumulation phase of their investment strategy.

What are the two types of investors when considering NTNBs?

The two types of investors when considering NTNBs are those who plan to hold the investment until maturity and those who might redeem the investment early. The latter group needs to be cautious of market fluctuations when they choose to sell their bonds before maturity.

What is 'mark-to-market' in the context of Tesouro IPCA+?

Mark-to-market refers to the pricing of a bond based on current market conditions. When you redeem a Tesouro IPCA+ bond early, its value may differ from the price you initially paid due to fluctuations in interest rates, potentially resulting in a loss.

Why is holding a Tesouro IPCA+ bond until maturity recommended?

Holding a Tesouro IPCA+ bond until maturity is recommended because, at maturity, the investor will receive the exact agreed-upon return, which is unaffected by short-term market fluctuations. Early redemption can expose the investor to market risks and uncertainties.

What happens if the investor redeems a Tesouro IPCA+ bond before maturity?

If an investor redeems a Tesouro IPCA+ bond early, they are exposed to 'mark-to-market' risks. This means that the bond’s value at the time of redemption may be different from its original value, and they may incur a loss depending on market conditions.

How do interest rate changes affect the price of a Tesouro IPCA+ bond?

Interest rate changes have an inverse relationship with the price of a Tesouro IPCA+ bond. When interest rates rise, the bond’s price falls, and when interest rates decrease, the bond’s price increases. This is due to the bond’s fixed return being less attractive when interest rates rise.

Why do longer-term bonds experience more volatility with mark-to-market pricing?

Longer-term bonds experience more volatility with mark-to-market pricing because they are more sensitive to changes in interest rates. The longer the duration until maturity, the greater the potential for price fluctuations, which can result in higher risk if redeemed early.

How does the 'nominal value adjusted' (VNA) concept relate to Tesouro IPCA+ bonds?

The 'nominal value adjusted' (VNA) refers to the bond’s value, which is updated based on inflation. For example, the initial nominal value of R$1,000 has been adjusted to R$4,463.36 over time. This adjusted value reflects the bond’s true value in relation to inflation.

What impact does inflation have on the nominal value of a Tesouro IPCA+ bond?

Inflation causes the nominal value of a Tesouro IPCA+ bond to increase over time, as the bond is indexed to inflation. This means that the bond’s value grows in line with inflation, ensuring that the purchasing power of the bond’s payout remains stable.

What is the recommended strategy for an investor looking to secure long-term growth with Tesouro IPCA+ bonds?

For long-term growth, the recommended strategy is to invest in Tesouro IPCA+ bonds with longer maturities, such as those maturing in 2040 or 2050. This approach allows the investor to benefit from compound interest over time while minimizing the impact of short-term market fluctuations.