Fixed income
30
June
USDVND cools as SBV reissues bills
The USDVND eased after five consecutive weeks of gains, following the SBV’s reissuance of central bank bills for the first time in over three months to address interest rate differentials....
23
June
Exchange rate under pressure as interest rate gap widens
The USDVND exchange rate continued its upward trend for the fifth consecutive week, a clear response to evolving domestic and international economic landscapes. On the global front, the Federal Reserve’s...
16
June
USDVND pressure persists
USDVND continued its fourth consecutive weekly increase, although the pace of increase has gradually slowed. The rise reflects market caution ahead of the outcome of trade negotiations between Vietnam and...
12
June
May 2025: Record issuance, Rising maturity pressure
In May2025, the total bond issuance increased to VND66,112bn (+117% yoy, +38% mom). The Banking issued VND48,757bn (+123% yoy) and made up 74% of the total May issuance. Corporate bond...
09
June
SBV back to liquidity withdrawal as interbank demand cools
This week, the SBV resumed liquidity withdrawal at a significant level, as demand in the interbank market dropped sharply amid easing liquidity conditions, while USDVND continued its upward trend. The...
02
June
Exchange rate pressure returns
This week, the SBV resumed liquidity injection, albeit at a moderate level, by offsetting matured repo contracts, while USDVND surged. The interbank curve steepened again, with notable declines in actively...
26
May
SBV modestly withdraws liquidity
This week, the SBV continued to withdraw liquidity, albeit at a moderate level, by offsetting matured repo contracts to maintain favorable interbank conditions. The interbank curve flattened, with a slight...
19
May
SBV withdraws significantly
This week, the SBV resumed to withdraw liquidity at a significant level as interbank rates eased, further reducing outstanding repo contracts this week. The interbank curve steepened as short-term rates...
12
May
SBV resumes liquidity injection
This week, the SBV returned to liquidity injection, albeit at a moderate level, into the banking system after three consecutive weeks of net liquidity withdrawal. The interbank curve flattened as...
Featured Analysis
Derivatives: Uptrend maintained
Market commentary: Extending the uptrend
USDVND cools as SBV reissues bills
Covered warrant: Positive momentum in the CW market
Derivatives: Awaiting a breakout signal
Market commentary: Positive sentiment returns
Chart of the day: Signs of accumulation
