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External broker reports(aggregated public sources)

Macroeconomics

<ul><li>In December, G-bond issuance continued to drop 64.5% MoM to only VND7.4tn (USD289.9mn), marking the fourth consecutive month of declining and was the lowest figure since April 2022. </li><li>The VST failed to achieve its Q4 and full-year issuance plans as it completed only 45.9% of the Q4 issuance plan and 82.6% of its annual plan.</li><li>In 2024, the VST issued VND330.4tn (USD13.0bn) of G-bonds while we estimate VND71.2tn (USD2.8bn) of Gbonds expired, leading to a net issuance of VND259.2tn (USD10.2bn; +8.4% YoY). </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

In December, G-bond issuance continued to drop 64.5% MoM to only VND7.4tn (USD289.9mn), marking the fourth consecutive month of declining and was the lowest figure since April 2022. The VST failed to achieve its Q4 and full-year issuance plans as it completed only 45.9% of the Q4 issuance plan and 82.6% of its annual plan.In 2024, the VST issued VND330.4tn (USD13.0bn) of G-bonds while we estimate VND71.2tn (USD2.8bn) of Gbonds expired, leading to a net issuance of VND259.2tn (USD10.2bn; +8.4% YoY). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Vietnam Government International Bond (VIETNM GOVT)

Fixed Income December 2024 - SBV Uses Reserves to Ease Pressure on FX Market