Vietnam Bonds Decline on Inflation Concern; Dong Little Changed
Vietnam Bonds Decline on Inflation Concern; Dong Little Changed
by lexie Thu Mar 08, 2012 2:53 pm
March 8, 2012
Vietnam Bonds Decline on Inflation Concern; Dong Little Changed
Vietnam’s five-year government bonds fell for the first time in a week after the finance ministry raised the price of petroleum products, spurring concern inflation will accelerate.
The cost of products including gasoline and kerosene was increased by as much as 12 percent, the ministry said in an e- mailed statement yesterday. Consumer-price (VNCPIYOY) gains eased for a sixth month in February to 16.44 percent, still the highest among 17 Asian economies tracked by Bloomberg, official data show.
“Concern that inflation may accelerate is coming back,” said Cao Tan Phat, a Ho Chi Minh City-based analyst at ACB Securities Co. “The increase was quite high compared with market expectations.”
Yields (GGVN5YR) on the five-year bonds rose three basis points, or 0.03 percentage point, to 11.56 percent, according to a daily fixing from banks compiled by Bloomberg.
The dong was steady at 20,830 per dollar as of 2:33 p.m. in Hanoi, 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 up to 1 percent on either side of the official rate.
http://www.vietfinancenews.com/2012/03/vietnam-bonds-decline-on-inflation.html#more
Vietnam Bonds Decline on Inflation Concern; Dong Little Changed
Vietnam’s five-year government bonds fell for the first time in a week after the finance ministry raised the price of petroleum products, spurring concern inflation will accelerate.
The cost of products including gasoline and kerosene was increased by as much as 12 percent, the ministry said in an e- mailed statement yesterday. Consumer-price (VNCPIYOY) gains eased for a sixth month in February to 16.44 percent, still the highest among 17 Asian economies tracked by Bloomberg, official data show.
“Concern that inflation may accelerate is coming back,” said Cao Tan Phat, a Ho Chi Minh City-based analyst at ACB Securities Co. “The increase was quite high compared with market expectations.”
Yields (GGVN5YR) on the five-year bonds rose three basis points, or 0.03 percentage point, to 11.56 percent, according to a daily fixing from banks compiled by Bloomberg.
The dong was steady at 20,830 per dollar as of 2:33 p.m. in Hanoi, 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 up to 1 percent on either side of the official rate.
http://www.vietfinancenews.com/2012/03/vietnam-bonds-decline-on-inflation.html#more
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