Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Vietnam’s Bonds Slide Most in Five Days; Dong Little Changed

Dec. 1 (Bloomberg) -- Vietnam’s five-year bonds fell the most in five days on concern a pickup in the inflation rate deterred investors from fixed-income assets. The dong was little changed near a record low.

“Increases in the inflation rate have probably scared foreign investors away,” said Nguyen Thanh Danh, a Ho Chi Minh City-based money market dealer at Saigon Thuong Tin Commercial Joint-Stock Bank. “There is some demand from local investors for bonds, but with a higher expectation for yields,” he said by phone today.

Vietnam is unlikely to meet its target of keeping inflation below 10 percent this year, the Thanh Nien newspaper reported today, citing Ho Thi Kim Thoa, deputy minister of trade and industry. The consumer price index may rise 1.3 percent to 1.5 percent in December from November, the newspaper cited Thoa as saying.

The Yield on the benchmark five-year notes climbed eight basis points, the most since Nov. 24, to 11.38 percent today, according to a daily fixing price from banks compiled by Bloomberg. A basis point is 0.01 percentage point.

Inflation quickened for a third month in November to the fastest pace in 20 months, with consumer prices rising 11.09 percent from a year earlier, according to figures released by the General Statistics Office in Hanoi this week.

The dong was little changed at 19,495 per dollar as of 3 p.m. local time, compared with 19,498 yesterday, according to data compiled by Bloomberg. The central bank set the day’s reference rate at 18,932, a level unchanged since Aug. 18, according to its website. The currency is allowed to trade as much as 3 percent on either side of that rate.

In the so-called black market, the dong traded between 21,510 and 21,570 at gold shops as of 3 p.m. in Ho Chi Minh City, compared with between 21,470 and 21,530 at the same time yesterday, according to a telephone information service run by the state-owned Vietnam Posts & Telecommunications.

To contact the reporter on this story: Nguyen Dieu Tu Uyen in Hanoi at uyen1@bloomberg.net.

To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.