News Summary

On October 18, 2024, a silent movement marked the Brazilian financial market. Twenty-seven credit rights investment funds — with names reminiscent of mythology, constellations, and literary figures — that had been inactive for months and even years, were "awakened" on the same day. Subsequently, in less than ten days, they began to operate as if programmed by a single central command: all bought the same asset, at the same speed, in the same proportion.

At the end of this movement, R$ 7.7 billion was concentrated in a financial product that the majority of shareholders have never seen, do not understand, and for which there is practically no public information: the BB Credit Notes, documents issued by Banco do Brasil supposedly backed by precatory orders and judicial debts of public entities.