Fixed income
30
March
Upward pressure on USDVND persists
In 13W26, the SBV conducted a modest net liquidity injection into the banking system by rolling over repo operations to offset a substantial value of maturing repos. This action aimed...
23
March
USDVND under pressure amid prolonged Middle East tensions
In 12W26, the SBV continued its net liquidity withdrawal for a second consecutive week at a strong pace as funding demand in the banking system normalized. On the interbank market,...
17
March
Feb 2026: High issuances on few issuers
In Feb, total value of bond issuance surged 73.5% yoy but down 57.0% mom to VND4,080bn (Fig. 1), of which BID was the sole issuer in banking industry with VND4,000bn...
16
March
SBV withdraws liquidity amid diverging interbank rates
In 11W26, the SBV shifted to a substantial net liquidity withdrawal to absorb excess funds as post holiday funding pressure fully subsided, while interbank rates showed a clear divergence as...
09
March
SBV returns to net liquidity injection amid cooling interbank rates
In 10W26, the SBV returned to a net liquidity injection by rolling over repo contracts to prevent system tightening, while interbank rates eased as funding demand stabilized. On the FX...
02
March
SBV withdraws liquidity amid diverging interbank rates
In 9W26, the SBV shifted to a substantial net liquidity withdrawal to absorb the excess funds returning to the banking system after the heavy net injections prior to the Lunar...
23
February
SBV continue to injects liquidity ahead of Tet holiday
This week, the SBV maintained net liquidity injections, albeit at a moderate level, as the Tet holiday approaches. On the interbank market, short term rates eased alongside lower trading volume,...
13
February
Jan 2026: The lowest issuances
- In Jan 2025, the total value of bond issuance dropped to VND3,711bn (Fig.1), -33% yoy and -96% mom. - The Banking issued VND2,221bn with -58% yoy and accounting for...
09
February
SBV conducts aggressive liquidity injections ahead of Lunar New Year
This week, the SBV maintained strong net liquidity injections as funding demand intensified ahead of the Lunar New Year holiday. On the interbank market, rates heated up amid surging demand,...
Featured Analysis
Market commentary: Sustained demand
Covered warrant: Risks remain present
Derivatives: Buy signal
Market commentary: Green returns
Derivatives: Selling Pressure Near the MA10
Market commentary: Selling pressure at the start of the week
Upward pressure on USDVND persists
