34
bonds, focusing on the issuance of long-term
Government bonds to meet the demand for
government bonds for insurance companies,
the social insurance fund and investment
funds.
- Performing the issue of additional bonds,
exchangeable bond to form the standard bond
codes, contributing to the sustainability of the
government bond portfolio.
References:
1. The Government (2017), Decision No. 1191/QD-TTg of August 14,
2017 approving the Bond Market Development Roadmap for the
2017-2020 period, vision to 2030
2. The Government (2017), Scheme on development of the bond market
for the 2017-2020 period, vision to 2020;
3. The National Financial Supervisory Commission, Report on
“Vietnam’s Financial Market Overview in 2017”;
4. Thematic Report on “Results of Capital Market Development in
2017 - Orientations and Solutions for Development in 2018” at the
Financial Sector Review Conference in 2017;
5. The Ministry of Finance, Bond market data from Department of
Finance - Banking.
of debt instruments.
Secondly, on product development:
- Diversifying term issue of government
bonds, issuing Government bonds regularly at
standard terms to form a benchmark interest
rate curve in the bond market as a reference for
the money market and financial system.
- Researching on the pilot issuance of floating-
rate government bonds when the market needs
to increase the ability to raise capital for the
budget.
Thirdly,
on market management:
- Organizing regular consultations with the
State bank of Vietnam and market participants
to manage the government bond market in terms
of volume, maturity, and interest rates suitably;
Announce issuance plans and detailed schedules
for market participants to participate actively
in the government bond market. Strengthen
policy dialogue with market participants to
catch up with difficulties and problems and take
measures to handle them.
- Diversifying the term issue of Government
GOVERNMENT BOND MARKET IN THE SECONDDARY MARKET
Number
Remaining term Transaction volume
Transaction value
Yield zone
1
1 month
16.340.000
1.791.795.240.000
4,9025 – YTM* – 4,9025
2
2 months
9.900.000
1.045.877.800.000
1,9032 – YTM – 3,9979
3
6 months
7.200.000
778.517.400.000
4,3273 – YTM – 4,3273
4
9 months
34.900.000
3.648.424.000.000
3,4004 –YTM – 4,9567
5
12 months
683.927.694
73.176.682.841.845
3,0997 – YTM – 6,3391
6
2 years
1.459.274.878
154.450.538.839.294
3,3401 – YTM – 6,5252
7
3 years
1.477.444.258
162.057.177.666.504
3,5198 – YTM – 6,6693
8
3 - 5 years
1.871.376.050
202.157.038.308.500
3,7 – YTM –7,1285
9
5 years
929.822.500
96.598.506.035.000
4,2001 – YTM –6,138
10
5 - 7 years
303.010.921
33.735.866.062.137
4,3 – YTM – 8,4999
11
7 years
636.320.610
68.930.424.799.250
4,38 – YTM – 7,3077
12
7 - 10 years
147.462.152
15.761.447.610.762
4,9999 – YTM – 7,3256
13
10 years
538.865.962
47.807.607.243.845
5,05 – YTM – 6,8892
14
10 - 15 years
724.209.352
83.981.516.793.784
5,25 – YTM – 8,3095
15
15 years
556.180.000
59.593.277.360.000
5,5 – YTM – 9,5006
16
15 - 20 years
123.270.000
14.392.793.660.000
5,8165 – YTM – 7,8588
17
20 years
232.489.000
25.531.661.765.000
5,9 – YTM – 7,7524
18
25 - 30 years
205.052.200
24.392.215.532.400
6,27 – YTM – 8,0437
19
30 years
560.950.282
63.545.017.660.701
6,1 – YTM – 9,6231
Total
10.517.995.859
1.133.376.386.619.020
*YTM: Yield to maturity
Source: HNX
