Saving bonds net €71.5M daily in Q4

 In Bonds and Gilts, News, Savings bonds

The Portuguese are increasingly ploughing their savings into Portuguese Republic bond certificates which netted €71.5 million a day in the last quarter of 2022, more than doubling the average daily save invested for the year as a whole: €32.7million.

The data is in the CCT 2022 Integrated Report showed that the annual average of €32.7 million per day in subscriptions compared to a daily average of €17.6 million in 2021.
Throughout last year, the amount of new subscriptions in certificates rose to €8.138Bn, bringing the balance of Savings Certificates by the end of the year to €19.6Bn, a new record since 1998.
The increase in Euribor rates — index-linked to Savings Certificates – and consequent increase in the yields on the bonds was the factor behind the increased demand for the savings bonds by the Portuguese public, with the data showing that this appetite for national savings bonds increased in the second half of the year.
“Subscriptions to the sum of €8.138.0Bn were made in 2022, with a daily average of €32.7 million per day (€17.6 million/day in 2021)” states the CTT report, indicating that the second half of the year “benefitted from an increase in subscriptions in public debt bonds, 186.8% above” the like-for-like results for 2021.
“This growth was supported by savings certificates whose attractiveness had increased since the beginning of 2022, thanks to the new situation in interest rates that better positioned public debt as an investment alternative”, states the document.