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Vietnam- Bonds Advance on Speculation Bank Demand Increasing DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Vietnam- Bonds Advance on Speculation Bank Demand Increasing

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Vietnam- Bonds Advance on Speculation Bank Demand Increasing Empty Vietnam- Bonds Advance on Speculation Bank Demand Increasing

Post by lexie Wed Sep 14, 2011 1:37 pm

September 14, 2011



VND -Bonds Advance on Speculation Bank Demand Increasing




Vietnam’s five-year bonds gained for a second day on speculation demand from lenders increased after the central bank pumped funds into the financial system.


The State Bank of Vietnam injected a net 21 trillion dong ($1 billion) into the banking system last week through open- market operations, said Luu Hai Yen, a Hanoi-based analyst at Thang Long Securities Joint-Stock Co.


“Demand for bonds from commercial lenders has been on the rise as their liquidity improved,” Yen said.


The yield on the benchmark five-year notes fell one basis point, or 0.01 percentage point, to 12.48 percent, according to a daily fixing from banks compiled by Bloomberg.


Bond yields will likely not increase over the next month as banks are cutting lending rates following a request from the central bank, Yen said.


The dong was little changed at 20,832 per dollar as of 3:01 p.m. in Hanoi, according to data compiled by Bloomberg. The central bank fixed the reference rate at 20,628 today, 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/bonds-advance-on-speculation-bank.html#more



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