In April 2022, the State Treasury of Vietnam called for 16 auctions of government bonds with the total offering value of VND 21,00 billion, the winning rate was 22%.

The State Treasury of Vietnam called for 16 auctions of government bonds with the offering of VND 21,00 billion, the bidding value was VND 35,144 billion. In which, the winning value was VND 4,620 billion, the winning rate was 22%. 10-year and 15-year bonds had the highest offering value (both were VND 8,500 billion), the winning rate was 23.5% for each tenor. 5-year, 7-year bonds were not successfully issued. Compared to last winning yields, the average winning yields of 10-year tenor increased by 9 points, 15-year tenor up 19 points and 30-year tenor increased by 1 point.

Since the beginning of the year, STV has issued VND 45,902 billion of government bonds, equivalent to 11% of 2022 plan (VND 400,000 billion). Specifically, the total issuing value of 10-year tenor was VND 20,642 billion (reached 15% of 2022 plan), 15-year tenor was VND 14,950 billion (reached 10% of 2022 plan), 20-year tenor was VND 2,185 billion (reached 7% of 2022 plan) and 30-year tenor was VND 8,125 billion (reached 23% of 2022 plan). 5-year and 7-year bond were not successfully issued. Compared to the same period last year, the issuing value of 10-year tenor decreased by VND 8,408 billion (-28.94%, 15-year tenor decreased by VND 5,454 billion (-26.73%), 20-year decreased by VND 305 billion (-12.25%) and 30-year tenor increased by VND 3,862 billion (+90.59%).

In May 2022, there will be about VND 1,450 billion of government bonds reaching maturity, accounting for about 2.85% of bonds matured in the year.

The Vietnam Bank for Social Policy called for 4 auctions with total value of VND 3,500 billion at tenor of 3, 5, 10 and 15 years, the bid/offer ratio reached 114.3%. In which, 5-year bond was the only tenor to be issued with VND 100 billion (equivalent to the winning rate of 2.9%), winning yield was 2.39%. Since the beginning of the year, this was the first issuance of government-guaranteed bonds from Vietnam Bank for Social Policy.

The value of Outright transactions was VND 109,886 billion (decreased by 39% compared to last month) and Repo transactions reached VND 91,875 billion (decreased by 3.7% compared to last month).

On the secondary market, the value of Outright transactions was VND 109,886 billion (decreased by 39% compared to last month) and Repo transactions reached VND 91,875 billion (decreased by 3.7% compared to last month). The average daily Outright transaction value decreased by 33.1% to VND 5,233 billion per day, and the average daily Repo transaction value increased to VND 4,375 billion per day, 5.4% higher than the last month. Compared to the same period in 2021, April 2022 outright volume decreased by 5.8% and repo volume increased by 16%. 10-year and 15-year tenors were traded the most.

Foreign investors net sold a total of VND 1,195 billion in April 2022, therefore, they have net sold VND 1,681 billion since the begining of the year.

Compared to March 2022, Government bond yields (according to VBMA outright trading room) increased at all tenors.

Government bond yields increased by 16.7 to 58.8 points at all tenors compared to the previous month's average. Compared to last year, governent bond yields also spike significantly, esspecially at short tenors like 1 year (increased by 157 points) and 2 years (increased by 147 points). In April, the yield curve tended to flatten as bond yields from 1 to 15 years moved relatively higher while remained stable at longer tenors. 10-year and 7-year government bonds were traded the most last month with trading volume of VND 1,300 billion (accounting for 27.08%) and VND 1,250 billion (accounting for 26.04%), respectively.

As of April 30, 2022, Vietnam 10-year government bond yield was 2.987%, 0.14% higher than Thailand's while 4.01% lower than Indonesia's yield, 1.43% lower than Malaysia's. The yield spread between Vietnam and the US since the beginning of April until now has tended to extend at short tenors while narrow at long tenors as the US yields were increasing faster than VN yields.

In April 2022, there was no issuance under public offering and there were 23 corporate bond issuances under private placement with a total value of VND 16,472 billion.

According to data consolidated by VBMA, as of April 29, 2022, there were 23 issuances under private placement with a total value of VND 16,472 billion in April.

Most of issuers were Commercial banks with total issuing value of VND 14,940 billion, accounting for 90.7%. In this group, Military Joint Stock Commercial Bank issued the most with VND 4,600 billion of 3-year bonds. Sai Gon Joint Stock Commercial Bank ranked second, issued VND 2,500 billion of 3-year bonds.

In addtion, energy, transporation, production and finance companies also issued bonds under private placement in the month but issuing value accounted for less than 10% of total issuing value.

There were 97 issuances under private placements with a total value of VND 68,566 trillion (accounting for 88.74% of total issuing value) and 9 issuances under public offering with a total value of VND 8,696 trillion (accounting for 11.26% of total issuing value). Since the begining of the year, the total issuing value under public offering increased by VND 15% compared to last year and the total issuing value under private placement decreased by 22%.

The Real Estate sector ranked first in term of issuing value in 2022 with VND 28,856 billion, accounting for 37.35% of total issuing value. Most of the issuances' tenors of this group were from 1 to 3 years with the value of VND 21,559 billion (accounting for 74.71%). 

Commerical banks sector ranked second with VND 24,393 billion, accounting for 31.57% of total issuing value. The average issuing tenor of this group was 4.03 years, coupon rate was often referenced to deposit rate of state-owned banks.