In January 2022, the State Treasury of Vietnam called for 14 auctions of government bonds with the total offering value of VND 29,500 billion, the winning rate was 78.2%.

In January, the State Treasury of Vietnam called for 14 auctions of government bonds with a total value of VND 29,500 billion, the total winning value was VND 23,082 billion, the winning rate was 78.2%. The two tenors with the highest offering value were 10-year tenor and 15-year tenor (VND 12,500 billion and VND 9,500 billion respectively), and the winning rate was 85% (10-year tenor) and 73.2% (15-year tenor). 5-year and 7-year bonds were not successfully issued. Average winning interest rates of almost all tenors increased compared to December 2021, except for 30-year tenor.

STV announced the plan to issued VND 400,000 billion of Government bond in 2022, in which there is VND 105,000 billion in Q1/2022. Until 28/1/2022, STV has issued VND 23,082 billion of government bonds, equivalent to 6% of 2022 plan and 22% of Q1/2022 plan. Specifically, since the beginning of the year, the issuing values of 10, 15, 20 and 30-year tenors are VND 10,627 billion (reaching 7.6% of the 2022 plan), VND 6,950 billion (reaching 4.6% of the 2022 plan), VND 1,085 billion (reaching 3.6% of the 2022 plan), VND 4,420 billion (reaching 12.6% of the 2022 plan), respectively. 5-year and 7-year bonds has not been issued.

The value of Outright and Repo transactions reached VND 153,579 billion and VND 100,964 billion, decreased by 6.8% and 17.9% compared to December 2021, respectively.

On the secondary market, the average daily Outright transaction value increased to VND 7,679 billion per day (+7.22% MoM), and the average daily Repo transaction value also declined to VND 5,048 billion per day (-5.61% MoM). Compared to the same period in 2021, January outright and repo volume decreased by 24.02% and 0.38%, respectively. 10-year and 15-year tenors were traded the most. 

Foreign investors net sold a total of VND 1,245 billion in January 2022.

Compared to December 2021, Government bond yields (according to VBMA outright trading room) increased slightly at almost all tenors.

Government bond yields were up about 0.93-8.99 points in almost all tenors compared to the previous month's average, except 10-year and 30-year tenors decreased by 0.63 and 0.15 points, respectively. Compared to last year's interest rate level, the yield for tenors from 5 years to 30 years was currently 4.7-19.5 points lower, while the yields for tenors from 1 to 3 years was 10-28 points higher. In recent months, the yield curve tended to move higher in tenors from 1 to 7 years and remained stable at other tenors. 7-year and 10-year government bonds were traded the most with trading volume of VND 3,800 billion (each accounting for 28%).

In January 2022, there were 7 domestic corporate bond issuances to the public and 16 issuances under private placement with a total value of VND 24,509 billion.

According to data consolidated by VBMA, as of January 28, 2022, there were 7 issuances through public offerings of Thanh Thanh Cong Tourist JSC (VND 500 billion), Nova Land Corporation (VND 1,300 billion), Coteccons Construction JSC (VND 500 billion), Bamboo Capital JSC (VND 500 billion), Joint Stock Commercial Bank For Investment and Development of Vietnam (VND 2,209 billion) and 16 issuances under private placement with a total issuance value of VND 19,500 billion in January 2022.

Real Estate and Construction were the 2 leading sectors in terms of total issuing value with VND 14,470 billion and VND 7,130 billion, respectively, accounting for 55.8% and 27.5% of the total issuing value. 

In the Real Estate sector, Eagle Side Development and Investment Corporation JSC was the biggest issuer in January (VND 3,930 billion) with tenor of 1 year, Vietnam Land Development Corporation ranked second with VND 1,600 billion of 3-year bonds. In the Construction sector, Minh Truong Phu Construction JSC and Tuong Khai Construction Investment Corporation issued VND 2,950 billion and VND 2,990 billion, respectively, the 2 bond codes both have tenor of 1 year. 

The Banking sector also had some notable issuances: 3 issuances of Joint Stock Commercial Bank for Investment and Development of Vietnam (VND 2,209 billion) with floating coupon rate (reference rate is the average VND 12 month deposit rate of 4 banks (Agribank, Vietinbank, Vietcombank, BIDV) plus 0.5-1%), tenors from 7 to 10 years to increase tier 2 capital.