G-bond issuance reached the highest level since February 2023

- In July, G-bond issuance surged 23.9% MoM to VND36.5tn (USD1.4bn) – the highest amount in 17 months due to rising demand and supply. In 7M 2024, the total G-bond issuance was VND193.0tn (USD7.6bn), fulfilling 48.3% of 2024’s target. Additionally, VND49.8tn (USD2.0bn) of G-bonds expired in 7M 2024, leading to a net issuance of VND143.2tn (USD5.6bn; -16.6% YoY) vs VND171.6tn (USD6.8bn) in 7M 2023.

- In the secondary market, after surging 44.4% MoM in June, average daily trading value (ADTV) dropped 20.2% MoM to VND11.4tn (USD449.8mn).

- In the primary market, yields of 10Y and 15Y bonds rose 2 bps MoM and 10 bps MoM to 2.76% and 2.96%, respectively. Meanwhile, yields in the secondary market were nearly unchanged with 10Y and 15Y yields quoted at 2.80% and 2.96%, respectively.

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