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Vietnam Five-Year Bond Yields Lowest Since 2009; Dong Unchanged Empty Vietnam Five-Year Bond Yields Lowest Since 2009; Dong Unchanged

Post by 1alaskan Wed May 09, 2012 8:37 pm

Vietnam Five-Year Bond Yields Lowest Since 2009; Dong Unchanged

VietFinanceNews.com - Vietnam’s bonds rose, driving five- year yields to the lowest level since September 2009, on speculation a decline in interbank rates boosted demand for government securities. The dong was little changed.

The overnight interbank deposit rate dropped 26 basis points, or 0.26 percentage point, to 3.82 percent today, the least since Bloomberg started tracking the data in June 2009.

“As interbank rates have fallen to very low levels, bond yields have to drop as well,” said Do Hoang Quynh Trang, a fixed-income trader at Hanoi-based Ocean Commercial Joint-Stock Bank. “Government bonds are still a very effective and safe investment channel.”

The yield on the five-year notes fell nine basis points to 9.94 percent, according to daily fixing prices from banks compiled by Bloomberg.

The dong held at 20,860 per dollar as of 3:15 p.m. in Hanoi, according to data from banks compiled by Bloomberg. The central bank set the reference rate at 20,828, unchanged since Dec. 26, according to its website. The currency is allowed to fluctuate by as much as 1 percent on either side of the rate. (Bloomberg)

http://www.vietfinancenews.com/2012/05/vietnam-five-year-bond-yields-lowest.html

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