Fixed income
10
November
SBV rollovers repos as demand persists
This week, the SBV maintained its net liquidity injection at a modest level, mainly to offset withdrawal pressure from maturing repo contracts and support system-wide liquidity. Interbank rates remained elevated,...
03
November
SBV maintains liquidity injection as demand persists
This week, the SBV maintained its net liquidity injection, albeit at a modest level, mainly to offset the withdrawal pressure from maturing repo contracts. Specifically, the interbank yield curve diverged,...
27
October
SBV injects significantly as liquidity pressures intensify
This week, the SBV executed its second-largest net injection of 2025, likely due to significantly intensified liquidity pressures ahead of the year-end credit push. This tightening was reflected in the...
20
October
SBV backs to injection as liquidity demand rises
This week, the SBV returned to net liquidity injection as liquidity demand in the banking system picked up, while USDVND remained broadly stable. The interbank curve flattened as short-term rates...
13
October
Sep 2025: Lower issuances, higher maturity pressure
In Sep 2025, the total value of bond issuance sharply decreased to VND49,569bn (Fig.1), - 15% yoy and -18% mom. The Banking issued VND33,880bn with -29% yoy and accounting for...
13
October
The greenback cooled amid reignited trade war risks
This week, both USDVND and the dollar index edged lower as President Trump threatened to impose 100% tariffs on Chinese goods, while Beijing maintained a firm stance. Recent trade talks...
08
October
SBV resumes net withdrawal as USDVND softens
This week, the SBV reverted to a mild net liquidity withdrawal after a strong injection in the previous week, as liquidity in the banking system cooled. Interbank rates declined sharply...
29
September
SBV resumes net injection while USDVND holds steady
This week, the SBV returned to net liquidity injection after four consecutive weeks of withdrawal, signaling renewed pressures in the banking system as short-term interbank rates jumped sharply and trading...
22
September
USDVND edges down after Fed cut
In 38W25, interbank liquidity remained comfortable as the SBV allowed a net withdrawal amid repo maturities, while short-term rates declined and trading volumes surged. These dynamics suggest easing funding pressures,...
Featured Analysis
Derivatives: Bullish Engulfing pattern
Market commentary: Market recovery
HAH – Brief – [NONRATED] – Strong 3Q25, growth to moderate in 4Q25F
Banking – Note – [NEUTRAL] – Right on track
Strategic Insight: Awaiting an upward trend
Market traders: Liquidity declined
Market commentary: Market declined
