Vietnam’s latest government bond auction attracted limited investor demand, with only 7.9 percent of the VND 17 trillion (US$645 million) on offer successfully sold as yields continued to edge higher, according to the latest release from the Vietnam Bond Market Association.
The State Treasury offered VND 17 trillion across five maturities on June 3, including three-year, five-year, 10-year, 15-year and 30-year bonds. However, investors purchased just VND 1.34 trillion (US$50.9 million), with no successful bids recorded for the 15-year or 30-year tenors.
The five-year bond accounted for the majority of sales, with investors purchasing VND 1 trillion from the VND 6 trillion offered. The winning yield rose five basis points from the previous auction to 4.05 percent.
Demand for shorter and longer maturities remained subdued. The Treasury sold only VND 40 billion of three-year bonds from VND 500 billion offered, while just VND 300 billion of the VND 9 trillion in 10-year bonds was allocated.
Yields increased across all successful tenors. The three-year bond cleared at 3.50 percent, up one basis point from the previous session, while the 10-year bond yield rose two basis points to 4.27 percent.
Year-to-date government bond issuance has reached VND 160.5 trillion (US$6.1 billion), equivalent to 32.1 percent of the Treasury’s VND 500 trillion (US$19.0 billion) issuance target for 2026.
The 10-year tenor remains the government’s primary funding instrument, accounting for VND 138.7 trillion (US$5.3 billion) of issuance so far this year. Five-year bonds have contributed VND 19.2 trillion (US$729 million), while 15-year bonds account for VND 2.35 trillion (US$89 million).
TABLE: Vietnam government bond auction June 3, 2026, VNDb
| Code | Term | Offered | Registered | Won | Yield % |
| TD2629001 | 3 | 500 | 540 | 40 | 3.5 |
| TD2631008 | 5 | 6000 | 6000 | 1000 | 4.05 |
| TD2636023 | 10 | 9000 | 6750 | 300 | 4.27 |
| TD2641037 | 15 | 1000 | 300 | 0 | – |
| TD2656067 | 30 | 500 | 0 | 0 | – |