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 Vietnam’s Bonds Have Best Week in Eight on Easing Inflation

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1alaskan
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PostSubject: Vietnam’s Bonds Have Best Week in Eight on Easing Inflation   Fri Apr 20, 2012 12:58 pm

Vietnam’s Bonds Have Best Week in Eight on Easing Inflation

VietFinanceNews.com - Vietnam’s government bonds had the biggest weekly advance since early March on speculation consumer-price gains will slow. The dong strengthened.

Yields reached the lowest level since 2010 today as online newswire VnExpress reported that month-on-month inflation is forecast to be below 0.1 percent in April, citing Bui Quang Vinh, minister of planning and investment. Consumer prices increased 0.2 percent in March from February, official data show.

“There is still good demand for bonds as inflation is easing,” said Pham Phuong Lan, the Hanoi-based head of fixed- income and currency trading at the Bank for Investment & Development of Vietnam. “Banks also have abundant liquidity.”




The yield on the benchmark five-year bonds slid 33 basis points this week to 10.89 percent, the lowest level since November 2010, according to a daily fixing from banks compiled by Bloomberg. It fell three basis points, or 0.03 percentage point, today.

The dong strengthened 0.4 percent to 20,838 per dollar this week, according to prices from banks compiled by Bloomberg. The currency was steady today. The State Bank of Vietnam fixed its daily reference rate at 20,828, unchanged from Dec. 26, according to its website. The dong is allowed to trade as much as 1 percent on either side of the rate. (Bloomberg)

http://www.vietfinancenews.com/2012/04/vietnams-bonds-have-best-week-in-eight.html

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