Macro

08

May

April 2025: The return of real estate issuance

In April 2025, the total bond issuance increased to VND31,917bn (+61% yoy, +86% mom). The Real estate issued VND10,000bn (+12% yoy) and made up 31% of the total April issuance,...
Report (11)

06

May

Tariff clouds loom over solid performance

Vietnam’s macroeconomic picture in April remains broadly positive, with industrial production and trade indicators continuing to perform well. However, this may represent only a calm before the storm, as early...
Report (1)

05

May

SBV continues to withdraw liquidity before the holiday

SBV extended its liquidity withdrawal for a third consecutive week, signaling a softer pressure in the banking system despite the upcoming long holiday. As a result, interbank rates shifted, with...
Report (1)

28

April

Exchange rate pressure prevails

This week, SBV returned to net liquidity withdrawal at a substantial level as a large volume of repo contracts matured. This move signaled that liquidity in the banking system had...
Report (0)

21

April

Exchange rate pressure returns as trade war escalates

This week, the SBV returned to net liquidity withdrawal at a moderate level by rolling over repo contracts to ease maturing obligations. As a result, interbank rates declined across tenors,...
Report (0)

16

April

March 2025: Muted sound of real estate issuance

-In March 2024, total corporate bond issuance rose to VND17,199bn (+832% mom, -16% yoy). The Banking and Securities sectors accounted for 68%/32% of the total bond issuance (-0.37%p/+0.89%p compared to...
Report (9)

14

April

SBV boosts liquidity injection while greenback weakens

This week, the SBV continued its liquidity injection for the third consecutive week, stepping up its support to the banking system. The interbank curve remained mostly unchanged, while USDVND eased....
Report (0)

09

April

Exchange rate pressure escalates as tariffs hit

This week, SBV continued to inject liquidity into the banking system with greater intensity, while pressure on USDVND escalated. Interbank rates increased at short-term tenors, especially the overnight rate, while...
Report (1)

08

April

Steady growth before global turbulence

GSO’s March statistics show that Vietnam’s economy continued to grow steadily ahead of Trump’s reciprocal tariffs. Domestic drivers such as retail sales and public investment accelerated further, serving as key...
Report (3)
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