Hanoi (VNA) – The State Treasury raised 33.63 trillion VND (1.27 billion USD) in Government bonds across 17 auctions conducted by the Hanoi Stock Exchange (HNX) in May.​

In the first five months of 2026, total capital mobilised via Government bonds reached 159.2 trillion VND, equivalent to 72% of the State Treasury’s second-quarter issuance target and 32% of its annual plan.

Demand remained concentrated in medium- and long-term instruments, with 10-year and five-year bonds accounting for the bulk of issuance. The two tenors represented 54% and 45% of the total issuance value, respectively amounting to 18.25 trillion VND and 15 trillion VND.

The State Treasury offered bonds with maturities ranging from 3 to 30 years during the month. Successful bids were secured for 3, 5, 10, 15, and 30-year bonds, while winning yields edged up by between 2 and 14 basis points from the final auction in April.

At the last auction in May, winning yields were recorded at 3.49% for three-year bonds, 4% for five-year bonds, 4.25% for 10-year bonds, 4.27% for 15-year bonds and 4.5% for 30-year bonds.​

On the secondary market, the total listed value of Government bonds stood at nearly 2.7 quadrillion VND at the end of May, up 2% month-on-month. Average trading value, however, slipped 6.59% to 14.96 trillion VND per session.

Outright transactions accounted for 74.4% of total trading value, while repos made up 25.63%. Foreign investors contributed 4.3% of overall market turnover, up 0.8 percentage points from the previous month, but remained net sellers with net outflows of 137 billion VND.

​HNX data showed that yields on bonds with maturities of 10–15 years posted the strongest increase during the month, reaching 3.97%. In contrast, the sharpest declines were seen in the three- to five-year and seven-year segments, where yields fell to 2.65% and 3.63%, respectively.​

Bonds with maturities of seven to 10 years were the most actively traded, accounting for 20.6% of total market value. They were followed by 20-year bonds with a 15.5% share and five-year bonds with 7.3%./.