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Macro · National Treasury of Brazil

Tesouro Direto: rates and yield curve

On the base date 2026-10-30, the buy-side rates were: Tesouro Selic 0.02% to 0.10% a year over the Selic; Tesouro Prefixado 13.48% to 15.38% a year; Tesouro IPCA+ 7.27% to 7.89% a year above inflation.

Tesouro Direto is the program through which Brazil's National Treasury sells government bonds to individuals. Each bond has a maturity and a rate the market quotes for it every day. This page shows the rate and price of each bond on the latest base date of the Treasury's public file, and the yield curve those rates draw by maturity: it is the public reading of what the market charges per term, while B3 does not release the interest rate futures.

+0.02% – +0.10%Tesouro Selic: taxa sobre a Selic, % a.a.
4 maturities, 2027-03-01 to 2031-03-01
13.48% – 15.38%Tesouro Prefixado: taxa nominal, % a.a.
5 maturities, 2027-01-01 to 2032-01-01
7.27% – 7.89%Tesouro IPCA+: taxa real acima do IPCA, % a.a.
6 maturities, 2029-05-15 to 2050-08-15
13.75%Selic target (Copom), % a year
from our Macro section

Yield curve by maturity

Buy-side rate of each maturity on the base date. The horizontal axis is the term in years from the base date to maturity (our calculation, days / 365.25).

Fixed-rate bonds: nominal rate by maturity, % a year
12.5%13.0%13.5%14.0%14.5%15.0%15.5%16.0%0246810years to maturityTesouro Prefixado (fixed rate): 0.17 years, 13.48% a yearTesouro Prefixado (fixed rate): 1.17 years, 14.32% a yearTesouro Prefixado (fixed rate): 2.17 years, 14.89% a yearTesouro Prefixado (fixed rate): 4.17 years, 15.30% a yearTesouro Prefixado (fixed rate): 5.17 years, 15.38% a yearTesouro Prefixado with semiannual coupons: 0.17 years, 13.53% a yearTesouro Prefixado with semiannual coupons: 2.17 years, 14.77% a yearTesouro Prefixado with semiannual coupons: 4.17 years, 15.29% a yearTesouro Prefixado with semiannual coupons: 6.17 years, 15.42% a yearTesouro Prefixado with semiannual coupons: 8.17 years, 15.39% a yearTesouro Prefixado with semiannual coupons: 10.17 years, 15.23% a year
Tesouro Prefixado (fixed rate)Tesouro Prefixado with semiannual coupons
IPCA+ bonds: real rate (above inflation) by maturity, % a year
6.5%7.0%7.5%8.0%8.5%051015202530years to maturityTesouro IPCA+ (inflation-linked): 2.54 years, 7.80% a yearTesouro IPCA+ (inflation-linked): 5.79 years, 7.89% a yearTesouro IPCA+ (inflation-linked): 8.54 years, 7.88% a yearTesouro IPCA+ (inflation-linked): 13.79 years, 7.56% a yearTesouro IPCA+ (inflation-linked): 18.54 years, 7.32% a yearTesouro IPCA+ (inflation-linked): 23.79 years, 7.27% a yearTesouro IPCA+ with semiannual coupons: 3.79 years, 7.84% a yearTesouro IPCA+ with semiannual coupons: 5.79 years, 7.86% a yearTesouro IPCA+ with semiannual coupons: 8.54 years, 7.86% a yearTesouro IPCA+ with semiannual coupons: 10.54 years, 7.76% a yearTesouro IPCA+ with semiannual coupons: 13.79 years, 7.63% a yearTesouro IPCA+ with semiannual coupons: 18.54 years, 7.47% a yearTesouro IPCA+ with semiannual coupons: 23.79 years, 7.43% a yearTesouro IPCA+ with semiannual coupons: 28.54 years, 7.42% a yearTesouro IPCA+ with semiannual coupons: 33.79 years, 7.42% a year
Tesouro IPCA+ (inflation-linked)Tesouro IPCA+ with semiannual coupons

Each bond, by maturity

Base date: 2026-10-30. Rates in % a year; prices (PU) in R$. Buy and sell are the source labels.

Tesouro Selic

rate over the Selic, % a year (near zero: the bond earns the Selic plus or minus this premium or discount)

maturitybuy ratesell ratebuy pricesell pricehistory
2027-03-010.020.0320,210.0420,199.05JSON
2028-03-010.020.0320,204.8720,191.85JSON
2029-03-010.060.0720,185.6720,170.66JSON
2031-03-010.100.1120,120.7520,101.76JSON

Tesouro Prefixado (fixed rate)

nominal fixed rate, % a year

maturitybuy ratesell ratebuy pricesell pricehistory
2027-01-0113.4813.60979.63978.97JSON
2028-01-0114.3214.44856.35854.85JSON
2029-01-0114.8915.01742.71740.64JSON
2031-01-0115.3015.42555.37552.67JSON
2032-01-0115.3815.50479.96477.14JSON

Tesouro Prefixado with semiannual coupons

nominal fixed rate, % a year

maturitybuy ratesell ratebuy pricesell pricehistory
2027-01-0113.5313.651,027.371,026.67JSON
2029-01-0114.7714.89953.55951.12JSON
2031-01-0115.2915.41884.81881.27JSON
2033-01-0115.4215.54834.25829.99JSON
2035-01-0115.3915.51800.78796.02JSON
2037-01-0115.2315.35780.70775.57JSON

Tesouro IPCA+ (inflation-linked)

real rate, % a year, above inflation (IPCA)

maturitybuy ratesell ratebuy pricesell pricehistory
2029-05-157.807.923,954.273,941.01JSON
2032-08-157.898.013,083.903,062.48JSON
2035-05-157.888.002,509.912,484.95JSON
2040-08-157.567.681,757.621,729.99JSON
2045-05-157.327.441,299.281,272.11JSON
2050-08-157.277.39908.63884.45JSON

Tesouro IPCA+ with semiannual coupons

real rate, % a year, above inflation (IPCA)

maturitybuy ratesell ratebuy pricesell pricehistory
2030-08-157.847.964,568.844,549.19JSON
2032-08-157.867.984,448.284,421.84JSON
2035-05-157.867.984,389.834,355.94JSON
2037-05-157.767.884,339.544,301.02JSON
2040-08-157.637.754,209.204,164.50JSON
2045-05-157.477.594,242.424,190.71JSON
2050-08-157.437.554,113.864,057.48JSON
2055-05-157.427.544,144.004,084.97JSON
2060-08-157.427.544,036.033,975.28JSON

Tesouro Renda+ Aposentadoria Extra

real rate, % a year, above inflation (IPCA)

maturitybuy ratesell ratebuy pricesell pricehistory
2049-12-157.577.692,003.421,978.47JSON
2054-12-157.447.561,420.831,395.29JSON
2059-12-157.337.451,015.91992.08JSON
2064-12-157.287.40723.52702.62JSON
2069-12-157.277.39511.71494.17JSON
2074-12-157.277.39361.03346.73JSON
2079-12-157.287.40253.74242.33JSON
2084-12-157.287.40178.94169.96JSON

Tesouro Educa+

real rate, % a year, above inflation (IPCA)

maturitybuy ratesell ratebuy pricesell pricehistory
2030-12-157.627.743,432.493,423.09JSON
2031-12-157.697.813,947.843,934.70JSON
2032-12-157.827.943,652.143,635.96JSON
2033-12-157.867.983,383.193,364.49JSON
2034-12-157.877.993,135.893,115.11JSON
2035-12-157.877.992,908.022,885.54JSON
2036-12-157.857.972,700.642,676.80JSON
2037-12-157.827.942,511.132,486.22JSON
2038-12-157.797.912,336.652,310.90JSON
2039-12-157.737.852,181.782,155.35JSON
2040-12-157.687.802,036.782,009.88JSON
2041-12-157.627.741,905.321,878.05JSON
2042-12-157.567.681,784.341,756.84JSON
2043-12-157.517.631,670.521,642.94JSON
2044-12-157.457.571,567.781,540.17JSON
2045-12-157.417.531,468.621,441.15JSON
2046-12-157.377.491,376.851,349.59JSON
2047-12-157.347.461,289.671,262.72JSON
2048-12-157.317.431,208.681,182.12JSON

Tesouro IGPM+ with semiannual coupons (discontinued)

real rate, % a year, above the IGP-M

maturitybuy ratesell ratebuy pricesell pricehistory
2031-01-017.807.928,006.657,962.29JSON

How to read each rate

The data in JSON and CSV

Source and licence

National Treasury of Brazil — Tesouro Transparente — Taxas dos Títulos Ofertados pelo Tesouro Direto (PrecoTaxaTesouroDireto.csv).

Dataset: https://www.tesourotransparente.gov.br/ckan/dataset/df56aa42-484a-4a59-8184-7676580c81e3

Licence: ODbL 1.0 (Open Data Commons Open Database License), as declared by Tesouro Transparente in the dataset metadata. Condition: free use, including commercial, citing the National Treasury as the source and sharing the derived database on the same terms.

The number is the one the source published, not recomputed; the only calculation on this page is the term in years to maturity, drawn on the chart axis, which is ours. It is an aggregate that nobody rebuilds from a public filing, so it lives in the Macro section.

How to cite

Source: https://dadosb3.com/tesouro?lang=en (Dados B3) — Tesouro Direto rates and prices, figures published by the National Treasury of Brazil (Tesouro Transparente; ODbL 1.0), not recomputed; data version 2026-11-03-delistadas-proventos-cvm; latest base date 2026-10-30. Open methodology at https://dadosb3.com/metodologia/tesouro_direto?lang=en.

Coverage: 2004-12-31 → 2026-10-30 · 178072 rows · 150 bonds · Not investment advice.

Back to Macro

Sources: CVM (open data, ODbL) and B3 (COTAHIST). Not affiliated with B3 or the CVM. Not investment advice.

Numbers on this page are live. Data version 2026-11-03-delistadas-proventos-cvm · page generated 2026-11-03 20:15 UTC. If this does not match /saude, you are reading a cached copy.