Fixed income

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)

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)

31

March

USDVND cautious ahead of U.S. “Liberation Day”

This week, the SBV injected liquidity into the banking system, albeit at a modest level, while USDVND nearly unchanged. Interbank rates steepened as short-term rates, particularly the overnight rate—declined sharply,...
Report (0)

24

March

Exchange rate pressure reignites ahead of reciprocal tariffs plan

This week, the SBV shifted to liquidity withdrawal, albeit at a modest level, while USDVND pressure returned. Interbank rates steepened, with short-term rates ticking up while longer-term rates declined. On...
Report (0)
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