May 2025: Mobilize 18,049 billion VND in government bonds

(Chinhphu.vn) - In May 2025, HNX organized 17 auctions of government bonds (G-bonds) issued by the State Treasury (KBNN), raising VND 18,049.5 billion. In the first 5 months of 2025, the KBNN has raised VND 170,917 billion through G-bond auctions, reaching 34.2% of the 2025 plan.

HNX organizes 17 auctions of Government bonds (TPCP) issued by the State Treasury (KBNN)

Bonds issued in May had maturities of 5, 10, 15 and 30 years, of which the majority was the 10-year term, with an issuance ratio of 83.8%, equivalent to VND15,131 billion. At the last auction of the month, the winning interest rates for the 5, 10, 15 and 30-year terms were 2.41%, 3.08%, 3.20% and 3.30%, respectively, up 10, 3, 10 and 2 basis points compared to the winning auction at the end of April.

In the secondary market, the listed value of Government bonds as of May 30, 2025 reached VND 2,367,448 billion. The average trading value in May reached VND 13,917 billion/session, up 11.22% compared to the previous month. Of which, the Outright trading value accounted for 69.63%, the Repos trading value accounted for 30.37% of the total trading value of the whole market. Foreign investors' transactions accounted for 3.26% of the total trading value of the whole market, of which foreign investors net bought VND 284 billion.

The trading yield of Government bonds increased the most in the 25-30 year and 3 year terms, currently reaching an average yield of about 3.547% and 2.274% respectively, and decreased the most in the 3-5 year and 5-7 year terms, currently reaching an average yield of about 2.4829% and 2.6155% respectively.

Medium and long-term terms were traded the most in the whole market in May, of which 10-year, 5-year and 10-15-year terms were traded the most with the proportions compared to the total transaction value of the whole market being 30.90%; 14.36% and 14.02% respectively. The commercial banking sector continued to dominate the market share of transactions in the Government bond market, with the proportions of Outright and Repos transaction value compared to the whole market being 49.81% and 84.52% respectively.

Mr. Minh

Source: https://baochinhphu.vn/thang-5-2025-huy-dong-18049-ty-dong-trai-phieu-chinh-phu-102250605195750553.htm