The 6-Month LTN (Letras do Tesouro Nacional) Auction represents a periodic sale of short-term, fixed-rate sovereign debt by the Brazilian National Treasury. These securities are zero-coupon bonds, meaning they are sold at a discount and redeemed at face value upon maturity. The auction results are a key indicator of investor sentiment regarding Brazil's short-term fiscal health and interest rate expectations. A higher-than-expected yield may suggest rising inflation concerns or increased sovereign risk.
The auction is conducted by the Brazilian National Treasury using a competitive bidding process. Primary dealers submit bids specifying the quantity and the price (discount rate) they are willing to accept.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Mar 20, 2025 | 14.54 | — | — |
| Mar 6, 2025 | 14.60 | — | — |
| Feb 20, 2025 | 14.45 | — | — |
| Feb 6, 2025 | 14.62 | — | — |
| Dec 12, 2024 | 12.74 | — | — |
| Nov 14, 2024 | 11.94 | — | — |
| Oct 31, 2024 | 11.75 | — | — |
| Oct 17, 2024 | 11.70 | — | — |
| Oct 3, 2024 | 11.48 | — | — |
| Sep 19, 2024 | 11.38 | — | — |
| Sep 5, 2024 | 11.24 | — | — |
| Aug 22, 2024 | 11.15 | — | — |
| Aug 8, 2024 | 10.97 | — | — |
| Jul 25, 2024 | 11.03 | — | — |
| Jul 11, 2024 | 10.68 | — | — |
| Jun 27, 2024 | 10.33 | — | — |
| Jun 13, 2024 | 10.31 | — | — |
| May 29, 2024 | 10.29 | — | — |
| May 16, 2024 | 10.22 | — | — |
