{"id":243539,"date":"2022-08-19T13:24:35","date_gmt":"2022-08-19T12:24:35","guid":{"rendered":"https:\/\/elementum.pt\/?p=243539"},"modified":"2022-10-10T16:01:35","modified_gmt":"2022-10-10T15:01:35","slug":"emissoes-de-titulos-em-portugal-maio-de-2022","status":"publish","type":"post","link":"https:\/\/elementum.pt\/pt-pt\/emissoes-de-titulos-em-portugal-maio-de-2022\/","title":{"rendered":"Emiss\u00f5es de T\u00edtulos em Portugal | Maio de 2022"},"content":{"rendered":"<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">O Banco de Portugal <a href=\"https:\/\/bpstat.bportugal.pt\/conteudos\/noticias\/1702\" target=\"_blank\" rel=\"noopener\">publicou<\/a> os dados de maio de 2022 sobre as emiss\u00f5es e amortiza\u00e7\u00f5es de t\u00edtulos em Portugal. Quando as emiss\u00f5es de t\u00edtulos s\u00e3o maiores do que as amortiza\u00e7\u00f5es, significa que o endividamento presente no pa\u00eds (no setor p\u00fablico e no privado) aumenta.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Em maio, as amortiza\u00e7\u00f5es de t\u00edtulos foram superiores \u00e0s emiss\u00f5es em \u20ac 300 milh\u00f5es: as amortiza\u00e7\u00f5es de t\u00edtulos de d\u00edvida superaram as emiss\u00f5es em \u20ac 700 milh\u00f5es, enquanto a emiss\u00e3o de novas a\u00e7\u00f5es superou as amortiza\u00e7\u00f5es em \u20ac 400 milh\u00f5es.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><strong><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Figura 1 \u2013 T\u00edtulos Emitidos, por Instrumento | Emiss\u00f5es Deduzidas de Amortiza\u00e7\u00f5es, em Milh\u00f5es de Euros<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgZfDJLTlYKXeEE-dDlacbzpeQaVq4wnMP_LDJbmk-kuVophXZmKwN5gv-qdUm0EuXL9NmTEzKCMJtPnhCFCs7UynZnalSA2m_9y2IjZ81TWN59B1Gk2OfVFaSiAPdkVskXCpQ3ilpDdcHCcVO-k6wOXtjXSAoAJy8wqP-xtdokR1WX7XzdjcL26Kn6-w\/s1400\/1.png\" target=\"_blank\" rel=\"noopener\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgZfDJLTlYKXeEE-dDlacbzpeQaVq4wnMP_LDJbmk-kuVophXZmKwN5gv-qdUm0EuXL9NmTEzKCMJtPnhCFCs7UynZnalSA2m_9y2IjZ81TWN59B1Gk2OfVFaSiAPdkVskXCpQ3ilpDdcHCcVO-k6wOXtjXSAoAJy8wqP-xtdokR1WX7XzdjcL26Kn6-w\/s1400\/1.png\" width=\"1400\" height=\"650\" \/><\/a><\/p>\n<p style=\"text-align: center\"><span style=\"font-size: 10pt\"><strong><span style=\"font-family: verdana, geneva, sans-serif\">Fonte: Banco de Portugal.<\/span><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">O setor financeiro foi o que mais contribuiu para este resultado, com as amortiza\u00e7\u00f5es a excederem as emiss\u00f5es em \u20ac 1.1 mil milh\u00f5es. J\u00e1 as administra\u00e7\u00f5es p\u00fablicas e as empresas n\u00e3o financeiras emitiram t\u00edtulos num montante superior ao amortizado em \u20ac 700 e \u20ac 100 milh\u00f5es, respetivamente.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><strong><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Figura 2 \u2013 T\u00edtulos Emitidos, por Setor Institucional | Emiss\u00f5es Deduzidas de Amortiza\u00e7\u00f5es, em Milh\u00f5es de Euros<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgvi8gRdYwwougHX-pP6biCeg6y-EkwXmRn9MvPInKOIpbcsjbC33Uz94BT1gCIfoaoRG2SLQWZQ30OaUbvyGEkqieEeMh6O5fMPTNkAIFSGYY7EB5l0x4PXoIQyiYVcCDlcTeAf2bbtX-O74mbUq-YsC-S8e5nL_ddmdvlbdM3mcghBLk9bJBn42NJQg\/s1400\/2.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgvi8gRdYwwougHX-pP6biCeg6y-EkwXmRn9MvPInKOIpbcsjbC33Uz94BT1gCIfoaoRG2SLQWZQ30OaUbvyGEkqieEeMh6O5fMPTNkAIFSGYY7EB5l0x4PXoIQyiYVcCDlcTeAf2bbtX-O74mbUq-YsC-S8e5nL_ddmdvlbdM3mcghBLk9bJBn42NJQg\/s1400\/2.png\" width=\"1400\" height=\"650\" \/><\/a><\/p>\n<p style=\"text-align: center\"><span style=\"font-size: 10pt\"><strong><span style=\"font-family: verdana, geneva, sans-serif\">Fonte: Banco de Portugal.<\/span><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">No final de maio, o valor total de t\u00edtulos emitidos por entidades residentes foi de \u20ac 485.8 mil milh\u00f5es (figura 3). O valor das a\u00e7\u00f5es emitidas por empresas n\u00e3o financeiras e pelo setor financeiro aumentou \u20ac 2.2 mil milh\u00f5es (figura 4), enquanto o dos t\u00edtulos de d\u00edvida p\u00fablica diminuiu \u20ac 1.7 mil milh\u00f5es (figura 4).<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><strong><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Figura 3 \u2013 T\u00edtulos Emitidos, por Tipo de Instrumento | Valor em Fim de M\u00eas, em Milh\u00f5es de Euros<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEiy5ZUhFZNzIHPWhRPib0OYPJUBILybWIjXKau6kKMNPSofGer9YVuPI-uR1QAzhcnQ2xT-YBSF1kIWmwqwXNNUhdiN-989Qi12la1DL-ZdczubTTqdCsUTuznQVDFtOFoHVKyoguX23ZCgBdQXskC_-ZSR-WDhaQjaKUSdpLzx978cSWgG81DYRRJz2A\/s1400\/3.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEiy5ZUhFZNzIHPWhRPib0OYPJUBILybWIjXKau6kKMNPSofGer9YVuPI-uR1QAzhcnQ2xT-YBSF1kIWmwqwXNNUhdiN-989Qi12la1DL-ZdczubTTqdCsUTuznQVDFtOFoHVKyoguX23ZCgBdQXskC_-ZSR-WDhaQjaKUSdpLzx978cSWgG81DYRRJz2A\/s1400\/3.png\" width=\"1400\" height=\"650\" \/><\/a><\/p>\n<p style=\"text-align: center\"><span style=\"font-size: 10pt\"><strong><span style=\"font-family: verdana, geneva, sans-serif\">Fonte: Banco de Portugal.<\/span><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><strong><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Figura 4 \u2013 T\u00edtulos Emitidos, por Setor Institucional | Valor em Fim de M\u00eas, em Milh\u00f5es de Euros<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEhTDCntnAeEwcMj74b3-_0lobEkZ-dU-EDbCUB_eGZlfNA9TZzY6_h31ERvou0HQJqLRdVEnN67V7p4nBNdcRfoNIwfX53Hiv0eOUHYuek3QkaW3KU1nfepXQka71YrlSxnT8CB5pBg3ls2GsgQFyeKm6qMSQGxCswSXhZIW1fBOb3Y-wWRxivJtK90xQ\/s1400\/4.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEhTDCntnAeEwcMj74b3-_0lobEkZ-dU-EDbCUB_eGZlfNA9TZzY6_h31ERvou0HQJqLRdVEnN67V7p4nBNdcRfoNIwfX53Hiv0eOUHYuek3QkaW3KU1nfepXQka71YrlSxnT8CB5pBg3ls2GsgQFyeKm6qMSQGxCswSXhZIW1fBOb3Y-wWRxivJtK90xQ\/s1400\/4.png\" width=\"1400\" height=\"650\" \/><\/a><\/p>\n<p style=\"text-align: center\"><span style=\"font-size: 10pt\"><strong><span style=\"font-family: verdana, geneva, sans-serif\">Fonte: Banco de Portugal.<\/span><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">O Banco de Portugal tamb\u00e9m afirmou que, do total de \u20ac 299.2 mil milh\u00f5es em t\u00edtulos de d\u00edvida vivos no final de maio, estavam previstas, para os 12 meses seguintes, amortiza\u00e7\u00f5es de \u20ac 42.7 mil milh\u00f5es, correspondente a 14.3% do total.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Destacavam-se as administra\u00e7\u00f5es p\u00fablicas (com amortiza\u00e7\u00f5es de \u20ac 8.8 mil milh\u00f5es calendarizadas para outubro de 2022), as empresas n\u00e3o financeiras (com \u20ac 4.1 mil milh\u00f5es de amortiza\u00e7\u00f5es previstas para junho de 2022) e o setor financeiro (com amortiza\u00e7\u00f5es de \u20ac 3.5 mil milh\u00f5es em julho de 2022). As amortiza\u00e7\u00f5es previstas no caso das empresas n\u00e3o financeiras correspondem, sobretudo, a papel comercial (um instrumento de financiamento de curto prazo muito utilizado pelas empresas portuguesas e que \u00e9 habitualmente objeto de renova\u00e7\u00e3o, isto \u00e9, de amortiza\u00e7\u00e3o acompanhada de nova emiss\u00e3o, igualmente de curto prazo). \u00c9, por isso, previs\u00edvel que se registe sistematicamente um valor elevado de amortiza\u00e7\u00f5es calendarizadas para os 30 dias ap\u00f3s o fim do m\u00eas.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><strong><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Figura 5 \u2013 Amortiza\u00e7\u00f5es Calendarizadas de T\u00edtulos de D\u00edvida, Em Milh\u00f5es de Euros<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjxh8eJ06XvWh4AzLPwN8sgist9vNNRn2y_AGa8Ti-Vid1Jkxf_5HFd2M1ifiPoIWiDP0BeBEVkA63oCOPkLBpIKtT_4AjQbO7o5eyNFzYH5_UXZDornB0UNsOtmHVcnboGTIGAloqF9n0oarUNiZhVNtQMjcCplNnonGwDU2NRwC6Tji_vfuNHb-V3SA\/s971\/5.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjxh8eJ06XvWh4AzLPwN8sgist9vNNRn2y_AGa8Ti-Vid1Jkxf_5HFd2M1ifiPoIWiDP0BeBEVkA63oCOPkLBpIKtT_4AjQbO7o5eyNFzYH5_UXZDornB0UNsOtmHVcnboGTIGAloqF9n0oarUNiZhVNtQMjcCplNnonGwDU2NRwC6Tji_vfuNHb-V3SA\/s971\/5.png\" width=\"971\" height=\"448\" \/><\/a><\/p>\n<p style=\"text-align: center\"><strong><span style=\"font-family: verdana, geneva, sans-serif;font-size: 10pt\">Fonte: Banco de Portugal.<\/span><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Andr\u00e9 Marques<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>O Banco de Portugal publicou os dados de maio de 2022 sobre as emiss\u00f5es e amortiza\u00e7\u00f5es de t\u00edtulos em Portugal. Quando as emiss\u00f5es de t\u00edtulos s\u00e3o maiores do que as amortiza\u00e7\u00f5es, significa que o endividamento presente no pa\u00eds (no setor p\u00fablico e no privado) aumenta. &nbsp; Em maio, as amortiza\u00e7\u00f5es de t\u00edtulos foram superiores \u00e0s [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":240214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-243539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sem-categoria"],"_links":{"self":[{"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/posts\/243539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/comments?post=243539"}],"version-history":[{"count":0,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/posts\/243539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/media\/240214"}],"wp:attachment":[{"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/media?parent=243539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/categories?post=243539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/tags?post=243539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}