Fixed Income May 2022 - Interbank interest rates fall on ample liquidity

Bond yields continued to rise in May 

- In May, the Vietnam State Treasury (VST) issued VND7.9tn (USD344bn) of G-bonds (+71% MoM). In 5M 2022, total G-bond issuance was VND53.8tn (USD2.34bn), fulfilling 13.5% of the full-year plan. Meanwhile, VND24tn (USD1.04mn) of G-bonds expired in 5M 2022, leading to a net issuance of VND29.8tn (USD1.3bn) vs VND7.1tn (USD310mn) in 5M 2021. 

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