Government bond yields in Vietnam continued to edge higher on May 20 as demand remained concentrated in shorter tenors, while appetite for longer-dated debt stayed weak, according to the latest auction data released by the Vietnam Bond Market Association.
Vietnam’s State Treasury called for bids on VND 16,500 billion (US$626 million) worth of government bonds across 5-year, 10-year, 15-year, and 20-year tenors.
The Treasury successfully raised VND 9,050 billion (US$343 million), with the 5-year tranche fully subscribed and the 10-year tranche seeing a 45 percent winning ratio. The 15-year bond recorded just a 5 percent winning ratio, while the 20-year offering failed to attract any bids.
Winning yields on the 5-year and 10-year bonds rose by 3 basis points and 2 basis points, respectively, from the previous auction session, reaching 3.95 percent and 4.21 percent. The 15-year bond cleared at 4.27 percent.
Year to date, Vietnam’s State Treasury has issued around VND 147,756 billion (US$5.61 billion) worth of government bonds, equivalent to 29.6 percent of its 2026 issuance target of VND 500,000 billion (US$18.98 billion).
Ten-year bonds continue to dominate issuance activity, accounting for roughly 91.7 percent of total issuance volume so far this year, with VND 133,271 billion (US$5.06 billion) sold.