Government bond market in May 2025: Mobilized 18,049 billion VND through bidding, secondary transaction value increased by 11.22%

In May 2025, the Hanoi Stock Exchange (HNX) organized 17 auctions of government bonds issued by the State Treasury, raising VND 18,049.5 billion.

In the first 5 months of 2025, the State Treasury mobilized 170,917 billion VND through government bond bidding, reaching 34.2% of the 2025 plan.

Bonds issued in May had terms of 5, 10, 15 and 30 years, of which the majority were 10-year terms, 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, respectively, 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 VND13,917 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 market transaction value, of which foreign investors net bought VND284 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 proportions to the total transaction value of the whole market being 30.90%; 14.36% and 14.02%, respectively.

The commercial banking sector continues to dominate the market share of government bond transactions, with the proportion of Outright and Repos transaction value compared to the entire market being 49.81% and 84.52%, respectively.

Source: https://baotuyenquang.com.vn/thi-truong-trai-phieu-chinh-phu-thang-5-2025-huy-dong-18049-ty-dong-qua-dau-thau-gia-tri-giao-dich-thu-cap-tang-1122!-213333.html