For the first time in 2016, securities offerings by Brazilian companies more than doubled in July over the same month last year, which may indicate an improvement in capital market operations. Funding totaled 7.6 bln reais in the month, versus 3.4 bln reais in July 2015. There were no equity or leasing debenture issues, but other fixed income and securitization instruments recorded positive results, with the sole exception of commercial papers, which fell by 54.5% year‐on‐year