Vietnam bonds fall for second day before auction; dong gains

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Vietnam's government bonds fell for a second day on Wednesday ahead of a state-owned lender's debt auction. The dong gained.

Vietnam Development Bank, which raises funds for government projects, will offer VND4 trillion (US$192 million) of three- and five-year notes on Wednesday, according to a statement on the website of the Hanoi Stock Exchange, where the auction will take place. The outcome of the sale will be known later Wednesday.

The yield on benchmark five-year bonds rose two basis points, or 0.02 percentage point, to 12.15 percent, according to a daily fixing from banks compiled by Bloomberg.

The State Treasury will offer VND6 trillion of two-, three- and five-year notes tomorrow and state-owned Vietnam Expressway Corp. will auction VND800 billion of three-, five- and 10-year notes on Feb. 24, according to the exchange.

The dong strengthened 0.2 percent to 20,835 per dollar as of 4 p.m. in Hanoi, according to prices from banks compiled by Bloomberg.

The State Bank of Vietnam fixed its daily reference rate at 20,828, unchanged since Dec. 26, according to its website. The currency is allowed to trade up to 1 percent on either side of the rate.

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