In May 2022, the State Treasury of Vietnam called for 13 auctions of government bonds with the total offering value of VND 18,500 billion, the winning rate was 42.8%.

The State Treasury of Vietnam called for 13 auctions of government bonds with the offering value of VND 18,500 billion, the bidding value was VND 26,964 billion. In which, the winning value was VND 7,910 billion, the winning rate was 42.8%. 10-year and 15-year bonds had the highest offering value (both were VND 8,000 billion), the winning rate was 43.5% for 10-year tenor and 48.4% for 15-year tenor. 7-year bonds were not successfully issued. Compared to last winning yields, the average winning yields of 10-year tenor increased by 8 points, 15-year tenor increased by 6 points and remained unchanged at 20-year and 30-year tenors.

Since the beginning of the year, STV has issued VND 53,812 billion of government bonds, equivalent to 14% of 2022 plan (VND 400,000 billion). Specifically, the total issuing value of 10- year tenor was VND 24,412 billion (reached 17% of 2022 plan), 15-year tenor was VND 18,820 billion (reached 13% of 2022 plan), 20-year tenor was VND 2,225 billion (reached 7% of 2022 plan) and 30-year tenor was VND 8,625 billion (reached 25% of 2022 plan). 5-year and 7-year bonds were not successfully issued. Compared to the same period last year, the issuing value of 10-year tenor decreased by VND 30,344 billion (-55.69%), 15-year tenor decreased by VND 11,350 billion (-37.62%), 20-year tenor decreased by VND 845 billion (-27.52%) and 30-year tenor increased by VND 1,462 billion (+20.41%).

In June 2022, there will be about VND 8,950 billion of government bonds reaching maturity, accounting for about 17.6% of bonds matured in the year.

The Vietnam Bank For Social Policy called for auctions a total of VND 15,000 billion at tenors of 3, 5, 10 and 15 years, the bid/offer ratio was 75.4%. In which, 3-year bond was the only tenor to be issued with VND 2,600 billion (equivalent to the winning rate of 40%), winning yield was 2.3%. Since the beginning of the year, Vietnam Bank for Social Policy has issued VND 2,700 billion government guaranteed bonds at tenors of 3 years and 5 years.

The value of Outright transactions was VND 78,937 billion (decreased by 28.2% compared to last month) and Repo transactions reached VND 76,864 billion (decreased by 16.3% compared to last month).

On the secondary market, the average daily Outright transaction value decreased by 25% to VND 3,947 billion per day, and the average daily Repo transaction value increased to VND 3,843 billion per day, 12% lower than the last month. Compared to the same period in 2021, May 2022 outright volume decreased by 43% and repo volume increased by 5%. 10-year and 15-year tenors were traded the most.

Foreign investors net sold a total of VND 666 billion in May 2022, therefore, they have net sold VND 2,347 billion since the begining of the year.

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

Government bond yields increased by 8.5 to 35.4 points at all tenors compared to the previous month's average. Compared to last year, governent bond yields also spike significantly, especially at short tenors like 1 year (increased by 165 points) and 2 years (increased by 157 points). In May, the slope and shape of the yield curve remained unchanged compared to April, stayed relatively flat. 10-year government bonds were traded the last month with the trading volume of VND 1,400 billion (accounting for 62.2%), followed by 5- year and 7-year bonds, which both trading volume was 400 billion (each accounted for 15.4%).

As of May 31, 2022, Vietnam 10-year government bond yield was 3.125%, 0.17% higher than Thailand's while 3.92% lower than Indonesia's and 1.06% lower than Malaysia's. The yield spread between Vietnam and the US since the beginning of May until now narrowed at almost all, especially at tenors from 1 to 7 years.

In May 2022, there were 34 issuances under private placement and 1 issuance under public offering and with a total value of VND 24,105 billion.

According to data consolidated by VBMA, as of May 31, 2022, there were 34 issuances under private placement with a total value of VND 23,805 billion and 1 issuance of TNG Trading and Commercial JSC with a value of VND 300 billion in May.

Commercial banks was the leading sector in term of issuing value with VND 14,629 billion, accounting for 60.68% of the total issuing value. In this group, Orient Commercial Joint Stock Bank issued the most with VND 2,600 billion (accounting for 10.78% of total isusing value) after 2 issuances of 3-year bonds. Followed by Military Commercial Joint Stock Bank, issuing VND 2,500 billion (accounting for 10.37%) and Asia Commercial Joint Stock Bank with VND 2,000 billion (accounting for 8.29%). Real Estate sector was the second-most issuing sector with VND 6,879 billion of bonds, equivalent to 28.53% of total issuing value. In which, No Va Land Investment Group Corporation was the most notable with VND 5,774 billion of 10-year bond.

Since the begining of the year, there were 160 issuances under private placements with a total value of VND 104,828 trillion (accounting for 92.09% of total issuing value) and 17 issuances under public offering with a total value of VND 8,996 trillion (accounting for 7.91% of total issuing value). The total issuing value under public offering increased by 11% compared to last year and the total issuing value under private placement decreased by 23% compared to last year.

The Commercial banks sector ranked first in term of issuing value in 2022 with VND 42,382 billion, accounting for 37.4% of total issuing value. Most of the issuances' tenors of this group were from 1 to 3 years with the value of VND 31,049 billion (accounting for 73.26%).7-year tenor and above accounted for 23.44% with issuance value of VND 9,935 billion. Real Estate sector ranked second with VND 37,395 billion, accounting for 32.9% of total issuing value. In which, No Va Land Investment Group Corporation issued the most (VND 7,574 billion), followed by Eagle Side Development and Investment Corporation (VND 3,930 billion).