Fixed Income

Tesouro Direto, CDBs, LCIs, LCAs, debentures, CDI, Selic, maturities, guarantees and mark-to-market explained with a focus on how they work and their risks.

11articles

Mão colocando moeda em pote de vidro em uma linha do tempo visual com cadeado, pilha de moedas com seta ascendente e bandeira quadriculada.

Fixed Income28/09/20265 min read

Daily liquidity, lock-up and maturity in a CDB: three different time concepts

Understand the difference between daily liquidity, the lock-up period and maturity in a Brazilian CDB and how each affects early redemption.

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Pilhas de moedas ao lado de dois cartões Tesouro IPCA+, um com juros semestrais e outro sem, com calculadora, caderno e ampulheta ao redor.

Fixed Income21/09/20267 min read

Tesouro IPCA+ with or without semiannual coupons: cash flow, tax and reinvestment

See how semiannual coupons change payment timing, income tax timing and the need to reinvest when the goal is long-term accumulation.

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Sala de reunião institucional com bandeira do Brasil ao fundo, dois conjuntos de documentos sobre a mesa, gráfico financeiro e relógio.

Fixed Income08/09/20267 min read

September Copom: what comes out on Sep. 16 and what the Sep. 22 minutes add

Understand the September meeting sequence and how the statement and minutes serve different roles in reading Copom's decision, risks, and strategy.

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Balança de madeira entre cartões de Tesouro Selic e CDB com liquidez diária, cercada por moedas, calculadora e cofrinho sobre uma mesa.

Fixed Income06/09/20268 min read

Tesouro Selic vs. daily-liquidity CDB: what to compare beyond the CDI percentage

Compare Tesouro Selic and daily-liquidity CDBs by net return, access to funds, credit risk, FGC coverage, fees, and taxes — not only by the CDI percentage.

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Balança de madeira com certificados de Tesouro Prefixado e Tesouro IPCA+, blocos de porcentagem e setas opostas entre alta de taxas e queda de moedas.

Fixed Income06/09/20267 min read

Mark-to-market in Tesouro Prefixado and IPCA+: why prices fall when yields rise

Learn why higher market yields push down the price of Brazilian Treasury fixed-rate and IPCA+ bonds, how early selling changes returns, and why maturity matters.

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Pessoa compara CDB, LCI e LCA em uma mesa com pilhas de moedas, calculadora, anotações e um escudo do FGC.

Fixed Income06/09/20267 min read

CDB vs LCI/LCA: how to compare net yield, maturity and FGC coverage

Learn how to adjust CDB returns for tax, compare maturity and liquidity, and understand FGC's aggregated limit before choosing among CDB, LCI and LCA.

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Cena dividida de mercado financeiro brasileiro: touro de bronze em repouso ao lado da bandeira do Brasil e flores amarelas à esquerda, e touro em pé diante de operadores, gráficos, livros e moedas à direita.

Fixed Income06/09/20264 min read

B3 on Brazil’s September 7 holiday: what stops and what resumes on September 8

B3 suspends trading on September 7, including private fixed income, while Tesouro Direto has no trading or investment confirmation. See what resumes on September 8.

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Celular com símbolo de aplicativo desativado ao lado de notebook com painel de investimentos, seta de transição, moedas e certificado financeiro.

Fixed Income03/09/20266 min read

Tesouro Direto app ended: how to access, invest and redeem bonds now

Since August 17, 2026, the official Tesouro Direto app has been discontinued. See how to use the Investor Portal or your financial institution’s channels to track your portfolio, i...

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Calendário de mesa com linha do tempo do IR regressivo, ampulheta, moedas e calculadora sobre uma mesa.

Fixed Income02/09/20265 min read

Brazil fixed-income tax: what changes on days 180, 181, 360, 361, 720 and 721

Understand Brazil’s 2026 regressive fixed-income tax schedule, the 180-, 360- and 720-day boundaries, and which dates to use when counting the holding period.

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Ampulheta, calendário de mesa em branco, maços de cédulas e pilhas de moedas com duas setas vermelhas para baixo indicando redução do rendimento.

Fixed Income02/09/20266 min read

Redeeming fixed income before 30 days: how IOF and income tax affect returns together

Learn how Brazil's regressive IOF reduces returns during the first 29 days, why income tax is calculated after IOF, and what remains in hypothetical examples.

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Balança de madeira com setas de queda e alta entre representações de Tesouro Prefixado e Tesouro IPCA+, diante de calendário do Copom de setembro e gráficos financeiros.

Fixed Income01/09/20267 min read

September Copom: how Selic can move Tesouro Prefixado and IPCA+ prices before maturity

Understand how changes in market yields after Copom can affect Tesouro Prefixado and IPCA+ prices before maturity, without forecasting the decision or recommending trades.

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