Vietnam Bonds Rise on Bank-Demand Speculation; Dong Advances
Vietnam Bonds Rise on Bank-Demand Speculation; Dong Advances
by lexie Thu Feb 16, 2012 11:56 am
February 16, 2012
Vietnam Bonds Rise on Bank-Demand Speculation; Dong Advances
Vietnam’s five-year bonds gained for a fourth day on speculation banks have more cash to invest in the debt. The dong strengthened.
“Liquidity at some big commercial banks has improved as they have been selling dollars to the central bank to get dong, leaving them with more cash to buy bonds,” said Cao Tan Phat, a Ho Chi Minh City-based analyst at ACB Securities Inc.
The yields on five-year notes fell five basis points, or 0.05 percentage point, to 12.24 percent as of 5:27 p.m. in Hanoi, according to a daily fixing from banks compiled by Bloomberg.
The dong gained 0.4 percent to 20,830 per dollar, according to data compiled by Bloomberg. The central bank set the reference rate at 20,828, unchanged since Dec. 26, its website showed. The currency is allowed to trade as much as 1 percent on either side of the official rate.
http://www.vietfinancenews.com/2012/02/vietnam-bonds-rise-on-bank-demand.html#more
Vietnam Bonds Rise on Bank-Demand Speculation; Dong Advances
Vietnam’s five-year bonds gained for a fourth day on speculation banks have more cash to invest in the debt. The dong strengthened.
“Liquidity at some big commercial banks has improved as they have been selling dollars to the central bank to get dong, leaving them with more cash to buy bonds,” said Cao Tan Phat, a Ho Chi Minh City-based analyst at ACB Securities Inc.
The yields on five-year notes fell five basis points, or 0.05 percentage point, to 12.24 percent as of 5:27 p.m. in Hanoi, according to a daily fixing from banks compiled by Bloomberg.
The dong gained 0.4 percent to 20,830 per dollar, according to data compiled by Bloomberg. The central bank set the reference rate at 20,828, unchanged since Dec. 26, its website showed. The currency is allowed to trade as much as 1 percent on either side of the official rate.
http://www.vietfinancenews.com/2012/02/vietnam-bonds-rise-on-bank-demand.html#more
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