toggle icon
logo text
logo symbol
toggle icon
Back

Fixed Income August 2024 - G-bond issuance reaches highest level in four years

Fixed Income

13 Sep 2024

G-bond issuance hit highest level since September 2020

- The VST announced a G-bond issuance plan of VND150tn (USD6bn) for Q3 2024, which is 25% higher than the Q2 issuance target of VND120tn (USD4.8bn) and nearly double of Q2 2024’s issuance.

- The VST issued VND45.3tn (USD1.8bn; +24.0% MoM) in August. In 8M 2024, the total G-bond issuance was VND238.3tn (USD9.5bn), fulfilling 59.6% of the full-year target. Additionally, VND55.8tn (USD2.2bn) of G-bonds expired in 8M 2024, leading to a net issuance of VND182.5tn (USD7.3bn; +2.3% YoY) vs a net issuance of VND178.3tn (USD7.1bn) in 8M 2023.

- In the secondary market, the average daily trading value (ADTV) declined for the second consecutive month to VND11.0tn (USD441.7mn; -3.3% MoM) in August.

- In the primary market, yields of 10Y and 15Y bonds fell 5 bps MoM and 6 bps MoM to 2.71% and 2.9%, respectively. Also, yields in the secondary market declined with 10Y and 15Y yields quoted at 2.72% (-8 bps MoM) and 2.90% (-5 bps MoM), respectively.


Powered by Froala Editor

Contact us for a research access: (+84) 2 8888 2 6868

/trung-tam-phan-tich/bao-cao-trai-phieu-tien-te-luong-phat-hanh-trai-phieu-chinh-phu-dat-muc-cao-nhat-trong-4-nam