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Vietnam- Five-Year Bonds Climb After Rates Drop at Debt Auction
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Vietnam- Five-Year Bonds Climb After Rates Drop at Debt Auction
by lexie Fri Sep 23, 2011 1:44 pm
September 23, 2011
Five-Year Bonds Climb After Rates Drop at Debt Auction
Vietnam’s five-year bonds gained after the government’s borrowing costs declined at a debt auction. The dong weakened.
The State Treasury sold 350 billion dong ($16.8 million) of securities due 2016 at 12.1 percent yesterday, according to the Hanoi Stock Exchange. It sold similar-maturity notes at 12.14 percent last week. Rates on three-year bonds also slipped to 12.05 percent yesterday from 12.14 percent at the previous sale.
“Bond yields in the secondary market will drop with the decline of coupon rates at auctions,” said Nguyen Hong Quang, a Hanoi-based fixed-income dealer at Bank for Agriculture & Rural Development, the country’s biggest lender.
The yield on five-year government bonds fell one basis point, or 0.01 percentage point, to 12.46 percent, according to a daily fixing from banks compiled by Bloomberg.
The dong weakened 0.1 percent to 20,834 per dollar as of 2:45 p.m. in Hanoi, according to data compiled by Bloomberg.
The central bank fixed the reference rate at 20,628, unchanged since Aug. 24, according to its website. The currency is allowed to trade up to 1 percent on either side of the rate. (Bloomberg)
http://www.vietfinancenews.com/2011/09/five-year-bonds-climb-after-rates-drop.html
Five-Year Bonds Climb After Rates Drop at Debt Auction
Vietnam’s five-year bonds gained after the government’s borrowing costs declined at a debt auction. The dong weakened.
The State Treasury sold 350 billion dong ($16.8 million) of securities due 2016 at 12.1 percent yesterday, according to the Hanoi Stock Exchange. It sold similar-maturity notes at 12.14 percent last week. Rates on three-year bonds also slipped to 12.05 percent yesterday from 12.14 percent at the previous sale.
“Bond yields in the secondary market will drop with the decline of coupon rates at auctions,” said Nguyen Hong Quang, a Hanoi-based fixed-income dealer at Bank for Agriculture & Rural Development, the country’s biggest lender.
The yield on five-year government bonds fell one basis point, or 0.01 percentage point, to 12.46 percent, according to a daily fixing from banks compiled by Bloomberg.
The dong weakened 0.1 percent to 20,834 per dollar as of 2:45 p.m. in Hanoi, according to data compiled by Bloomberg.
The central bank fixed the reference rate at 20,628, unchanged since Aug. 24, according to its website. The currency is allowed to trade up to 1 percent on either side of the rate. (Bloomberg)
http://www.vietfinancenews.com/2011/09/five-year-bonds-climb-after-rates-drop.html
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