{"id":46230,"date":"2026-10-01T01:29:18","date_gmt":"2026-09-30T22:29:18","guid":{"rendered":"https:\/\/valorizei.com\/?p=46230"},"modified":"2026-10-01T01:29:19","modified_gmt":"2026-09-30T22:29:19","slug":"prefixados-curtos-por-que-eles-voltaram-as-carteiras-em-setembro","status":"publish","type":"post","link":"https:\/\/valorizei.com\/en\/prefixados-curtos-por-que-eles-voltaram-as-carteiras-em-setembro\/","title":{"rendered":"Short-term fixed-income securities: why they returned to portfolios in September"},"content":{"rendered":"<p class=\"wp-block-paragraph\">Investing in <strong>short prefixes<\/strong> It has become the preferred strategy for those closely following the dance of interest rates. The recent recalibration of the Selic rate by the Central Bank has forced managers and investors to quickly recalculate their figures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The priority became capturing high rates while they exist, without being tied to long-term commitments in an unpredictable country.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The financial market thrives on moments of asymmetry. September opened a window of opportunity that doesn&#039;t usually stay open for very long.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With the Treasury Direct yield curve repaying generous premiums on maturities of up to two years, the question has changed. The doubt is no longer the same. <em>if<\/em> It is worthwhile to have a fixed income, and it has become... <em>as<\/em> To lock in those gains before the opportunity evaporates.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Below, we&#039;ve compiled the key points of this dynamic to help you understand where to step before making any changes to your brokerage&#039;s custody account this semester.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Summary<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Why did short-term fixed-rate bonds return to the spotlight of the financial market in September?<\/li>\n\n\n\n<li>What are the main benefits and risks of investing in short-term fixed-income securities right now?<\/li>\n\n\n\n<li>How can we compare the returns of fixed-income securities in the current scenario?<\/li>\n\n\n\n<li>What is the best strategy for allocating fixed-income securities in your investment portfolio?<\/li>\n\n\n\n<li>The destination of fixed capital<\/li>\n\n\n\n<li>Frequently Asked Questions (FAQ)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Why did short-term fixed-rate bonds return to the spotlight of the financial market in September?<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-1.png\" alt=\"Prefixados curtos\" class=\"wp-image-46233\" srcset=\"https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-1.png 1920w, https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-1-18x10.png 18w, https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-1-1536x864.png 1536w, https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-1-711x400.png 711w, https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-1-100x56.png 100w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">There&#039;s a curious dynamic in the Brazilian market every time the third quarter comes to a close.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Historically, September carries the weight of government fiscal revisions and the rebalancing of large institutional portfolios.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When the Copom (Monetary Policy Committee) maintains the Selic (benchmark interest rate) at high levels, the investor realizes that the premium offered by <strong>short prefixes<\/strong> It reaches a tempting turning point.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There&#039;s something almost ironic about the market&#039;s eagerness for longer-term bonds during these uncertain times.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While many are taking risks with long-term IPCA+ Treasury bonds and suffering negative variations due to market valuation, those who rushed to 12- to 24-month maturities locked in double-digit returns at the top of the curve without major setbacks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This recent movement reflects the flattening of the yield curve.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In simple terms, the market has stopped paying a significant interest rate differential to those who agree to lock up their money for five or ten years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Given the ever-present lurking internal fiscal risk, taking on long-term maturities without the appropriate premium has become a bad bet.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>short prefixes<\/strong> They&#039;ve become the rational refuge. It&#039;s not about guessing where interest rates will bottom out, but about elementary mathematics.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A high nominal rate is guaranteed now, and in twelve or eighteen months, with the money back in the account, the next step can be decided according to the prevailing economic climate.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This tactical flexibility has transformed these securities into the most sought-after asset on fixed-income trading desks recently. They ended up draining resources even from more traditional multi-market funds that were slow to readjust their positions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">++ <a href=\"https:\/\/valorizei.com\/en\/fluxo-estrangeiro-na-bolsa-o-que-muda-para-o-investidor-brasileiro\/\">Foreign investment in the stock market: what changes for the Brazilian investor?<\/a><br><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What are the main benefits and risks of investing in short-term fixed-income securities right now?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Locking in the profitability of an investment provides undeniable psychological comfort.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When buying <strong>short prefixes<\/strong>, The contract is signed: you know exactly what you will receive on the due date.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the Central Bank decides to cut the Selic rate at the next meeting, your return remains intact and untouchable, immune to monetary policy fluctuations. Contained volatility is another valuable advantage of this type of allocation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Long-term bonds rock like boats in a storm in the secondary market with every disastrous political statement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, securities with shorter maturities suffer a residual impact from mark-to-market adjustments, allowing investors to sleep soundly even during stressful times in the stock market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the other hand, the danger of this type of asset is silent and has a name: pent-up inflation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the official price index skyrockets during the period your capital is locked in at a fixed rate, your real gain \u2014 what remains above inflation \u2014 risks being eroded without you being able to do anything about it until maturity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Opportunity cost is also often misinterpreted by novice investors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If interest rates rise even further after your purchase, that return that seemed excellent yesterday may seem modest tomorrow, and your money will be stuck with the old contract.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Therefore, experienced analysts recommend diversifying issuances between government bonds and private bank securities protected by the Credit Guarantee Fund (FGC).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Choosing good CDBs and LCIs from medium-sized banks with a good credit rating is the shortest path to boosting returns without jumping in without a parachute.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">++ <a href=\"https:\/\/valorizei.com\/en\/quais-investimentos-costumam-se-beneficiar-da-queda-dos-juros\/\">Which investments typically benefit from falling interest rates?<\/a><br><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How can we compare the returns of fixed-income securities in the current scenario?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Putting assets side-by-side is the only remedy against the siren song of the financial market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When it comes time to choose <strong>short prefixes<\/strong>, Don&#039;t just look at the number displayed on the brokerage screen; understand how that value performs against inflation and against government bonds with daily liquidity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The table below outlines the projected average income outlook for the next 24 months, considering the current level of interest rates:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Title Type<\/strong><\/td><td><strong>Average Salary<\/strong><\/td><td><strong>Indexer \/ Structure<\/strong><\/td><td><strong>Average Annual Gross Profitability<\/strong><\/td><td><strong>FGC Coverage \/ Guarantee<\/strong><\/td><td><strong>Recommended Investor Profile<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>Prefixed Treasury<\/strong><\/td><td>12 to 24 months<\/td><td>Fixed Rate Contracted<\/td><td>11,80% to 12,50%<\/td><td>Sovereign Guarantee of the National Treasury<\/td><td>Conservative to Moderate<\/td><\/tr><tr><td><strong>Fixed-Rate CDB<\/strong><\/td><td>12 to 24 months<\/td><td>Fixed Rate Contracted<\/td><td>12,20% to 13,10%<\/td><td>Covered by the FGC (up to R$ 250 thousand)<\/td><td>Conservative to Moderate<\/td><\/tr><tr><td><strong>Selic Treasury<\/strong><\/td><td>Post-fixed (Daily)<\/td><td>100% of the Selic Rate + Premium<\/td><td>Selic rate variation (~10.50% to 11.75%)<\/td><td>Sovereign Guarantee of the National Treasury<\/td><td>Conservative (Emergency Reserve)<\/td><\/tr><tr><td><strong>Fixed-rate LCI\/LCA<\/strong><\/td><td>12 to 24 months<\/td><td>Fixed Rate Exempt from Income Tax<\/td><td>10,10% to 10,80% (Exempt)<\/td><td>Covered by the FGC (up to R$ 250 thousand)<\/td><td>Conservative to Moderate<\/td><\/tr><tr><td><strong>IPCA+ Treasury<\/strong><\/td><td>24 to 36 months<\/td><td>IPCA + Fixed Real Rate<\/td><td>IPCA + 6.20% to 6.60%<\/td><td>Sovereign Guarantee of the National Treasury<\/td><td>Moderate to Experienced<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Note the detail regarding the Income Tax rates. The regressive table penalizes quick redemptions with a tax of 22.5%, but decreases to 17.5% from the 361st day of custody.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For this reason, securities with a maturity slightly longer than one year usually deliver a net return substantially higher than that of a conventional emergency fund.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Keep track of the rates offered daily on the website. <a href=\"https:\/\/www.tesourodireto.com.br\/\">Treasury Direct<\/a> to identify the moments when the yield curve widens and offers rates above the historical average.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is the best strategy for allocating fixed-income securities in your investment portfolio?<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-2.png\" alt=\"Prefixados curtos\" class=\"wp-image-46234\" srcset=\"https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-2.png 1920w, https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-2-18x10.png 18w, https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-2-100x56.png 100w, https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-2-711x400.png 711w, https:\/\/valorizei.com\/wp-content\/uploads\/2026\/10\/Prefixados-curtos-2-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The golden rule of smart allocation is never to buy everything at once.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When the subject is investing in <strong>short prefixes<\/strong>, Spreading entries across different weeks allows you to capture distinct moments of market stress, resulting in a much more defensive average cost per trade.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Building a pay ladder \u2014 a technique known in the market as <em>laddering<\/em> \u2014 It usually works well.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By dividing the investment into staggered periods of 6, 12, 18, and 24 months, you ensure that there will always be an amount due and deposited into your account.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This scheduled liquidity allows you to reinvest your money in the best opportunities available at any given time.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Never make the classic mistake of using your emergency fund to buy fixed-rate bonds, no matter how tempting the rate or how short the term may seem.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Unexpected events don&#039;t ask permission to happen, and having to sell a fixed-rate security early on a stressful market day can mean incurring unnecessary losses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In terms of portfolio percentage, managers typically allocate between 151% and 301% of fixed income to short-term, pre-fixed securities during high interest rate cycles.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The remainder of conservative assets should remain protected in post-fixed and inflation-indexed bonds. Reading the signals of the economy is an ongoing exercise.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Keeping track of inflation reports and Central Bank announcements is the safest way to know when to stop accumulating short-term investments and start migrating to longer time horizons.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To closely follow the official diagnosis of the Brazilian economy and the next steps in the fight against inflation, it is worthwhile to read the reports available on the portal of <a href=\"https:\/\/www.bcb.gov.br\/\">Central Bank of Brazil <\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">++<a href=\"https:\/\/valorizei.com\/en\/titulos-indexados-ao-ipca-quando-ainda-fazem-sentido-em-2026\/\"> IPCA-indexed bonds: when do they still make sense in 2026?<\/a><br><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The destination of fixed capital<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Renewed interest in <strong>short prefixes<\/strong> This signals a much more pragmatic stance on the part of the Brazilian investor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Instead of trying to predict the unpredictable course of the fiscal and political landscape in the coming years, the smart decision has been to lock in attractive returns in the present.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This allows you to keep liquidity under control and avoid exposing your assets to excessively long periods without proper compensation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ultimately, building a solid portfolio doesn&#039;t require predicting the future of the economy, but rather creating structures that function well under different scenarios.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Taking advantage of short-term investment opportunities while the yield curve offers generous premiums is one of those simple moves that distinguishes those who merely save money from those who truly build wealth consciously.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Frequently Asked Questions (FAQ)<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">What are considered short-term fixed-rate bonds in the financial market?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">These are fixed-income securities with a fixed interest rate, known from the time of investment, and a maturity period ranging from 6 to 24 months.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is the practical difference between a prefixed and a postfixed word?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A fixed-rate loan defines exactly how much your money will earn until the end of the contract at the time of purchase. A variable-rate loan, on the other hand, varies daily, following the Selic rate or the CDI rate.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Is it possible to lose money by selling a fixed-rate bond before maturity?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Yes. Before the maturity date, the bond&#039;s value fluctuates in the market according to expectations of future interest rates. In the short term, this fluctuation is much smaller, but it still exists.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is the income tax rate charged on these securities?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The fee follows a regressive fixed-income tax table: 22.5% for terms up to 180 days, 20% up to 360 days, and 17.5% for investments held between 361 and 720 days. Securities such as LCI and LCA are exempt.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">When is it worthwhile to switch from post-fixed to short-term pre-fixed income investments?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This move makes sense when interest rates are at high levels and the market signals that interest rates will stop rising or begin to fall in the following months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Does your portfolio already include short-term fixed-rate securities, or is the preference still for the immediate liquidity of floating-rate securities?<\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>Investir em prefixados curtos virou a cartada preferida de quem acompanha de perto a dan\u00e7a dos juros. A recente recalibragem da taxa Selic pelo Banco Central for\u00e7ou gestores e investidores a refazerem as contas r\u00e1pido. A prioridade virou capturar taxas altas enquanto elas existem, sem ficar preso a compromissos de longo prazo num pa\u00eds imprevis\u00edvel.&hellip; <a class=\"read-more\" href=\"https:\/\/valorizei.com\/en\/prefixados-curtos-por-que-eles-voltaram-as-carteiras-em-setembro\/\">Continue reading<\/a><\/p>","protected":false},"author":46,"featured_media":46233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"Prefixados curtos: por que eles voltaram \u00e0s carteiras em setembro","_seopress_titles_desc":"Investir em prefixados curtos virou a cartada preferida de quem acompanha de perto a dan\u00e7a dos juros. A recente recalibragem da taxa Selic pelo Banco Central for\u00e7ou gestores e investidores a refazerem as contas r\u00e1pido.","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-46230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investimentos"],"_links":{"self":[{"href":"https:\/\/valorizei.com\/en\/wp-json\/wp\/v2\/posts\/46230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/valorizei.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/valorizei.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/valorizei.com\/en\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/valorizei.com\/en\/wp-json\/wp\/v2\/comments?post=46230"}],"version-history":[{"count":3,"href":"https:\/\/valorizei.com\/en\/wp-json\/wp\/v2\/posts\/46230\/revisions"}],"predecessor-version":[{"id":46235,"href":"https:\/\/valorizei.com\/en\/wp-json\/wp\/v2\/posts\/46230\/revisions\/46235"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/valorizei.com\/en\/wp-json\/wp\/v2\/media\/46233"}],"wp:attachment":[{"href":"https:\/\/valorizei.com\/en\/wp-json\/wp\/v2\/media?parent=46230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/valorizei.com\/en\/wp-json\/wp\/v2\/categories?post=46230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/valorizei.com\/en\/wp-json\/wp\/v2\/tags?post=46230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}