Hong Phuc The State Treasury last week successfully issued VND5.9 trillion worth of government bonds, following the VND8-trillion bond issuance in the week before that. Bond yields for two- and three-year terms were 8.3% and 8.53% respectively. In February, the State Treasury mobilized some VND8.74 trillion from government bond sale, taking the total sum in the first two months to more than VND35.4 trillion, meeting 23.6% of the year’s target and exceeding the target of VND30 trillion for the first quarter. This year, the Ministry of Finance intends to raise VD150 trillion from government bond issuance to make up for the State budget deficit and spending on investment and development. This aim is higher than the VND120 trillion in 2012. Although bond yields have gone down and will likely decline further in the coming time, buying energy of credit institutions remain strong. Short-term bond yields have lost 10-20 basis points, while the yields for terms of over five years have surged 20 points. The demand of credit institutions is forecast to continue to stay high. Investors mainly buy short-term bonds as the volume of bonds falling due is stable. Over VND50 trillion worth of government bonds will fall due in…
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