Government bond market in June 2025: mobilizing 30,473 billion VND through bidding, secondary transaction value increased by 20.28%

In June 2025, HNX organized 16 auctions of government bonds issued by the State Treasury, mobilizing VND 30,473 billion, an increase of 68.8% compared to May.

In the first 6 months of 2025, the State Treasury mobilized VND 201,390 billion through government bond bidding, reaching 40% of the 2025 plan.

Bonds issued in June included terms of 5, 10, 15 and 30 years, mainly 10-year and 5-year terms, with issuance proportions of 68% and 27%, respectively, equivalent to VND 20,640 billion and VND 8,300 billion.

At the last auction of the month, the winning interest rates for the 5, 10, 15 and 30-year terms were 2.59%, 3.18%, 3.27% and 3.40%, respectively, up 18, 10, 7 and 10 basis points compared to the winning auction at the end of May.

In the secondary market, the listed value of government bonds as of June 30, 2025 reached VND 2,395,821 billion. The average trading value in June reached VND 16,739 billion/session, up 20.28% over the previous month. Of which, the Outright trading value accounted for 73.98%, the Repos trading value accounted for 26.02% of the total trading value of the whole market.

Foreign investors' transactions accounted for 3.68% of the total market trading value, of which foreign investors net sold VND 13.4 billion. In the first 6 months of the year, the average trading value of government bonds per session reached VND 14,044 billion, up 19.22% compared to the whole year of 2024.

In June, the trading yields of government bonds increased the most in the 7-year, 15-year and 5-year terms, currently reaching an average yield of about 2.8176%; 3.1584% and 2.5167%, respectively; and decreased the most in the 3-year, 25-year and 25-30-year terms, currently reaching an average yield of about 2.0168%; 3.3952% and 3.4182%, respectively.

Medium and long-term maturities were traded a lot in June, of which 10-year, 10-15-year and 5-year maturities were traded the most with the proportions compared to the total transaction value of the whole market being 28.15%; 14.17% and 12.55% 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 55.08% and 93.24% respectively.

BAO MINH

Source: https://nhandan.vn/thi-truong-trai-phieu-chinh-phu-thang-62025-huy-dong-30473-ty-dong-qua-dau-thau-gia-tri-giao-dich-thu-cap-tang-2028-post892892.html