The low CPI growth in July marked two year of stable YoY inflation below 7.5% and Moody’s credit rating agency upgraded Vietnam bonds one notch from B2 to B1 giving investors reason to accumulate more bonds, helping the government to successfully issue VND24tn on the primary market, up 14% m-o-m. On the secondary market trading turnover jumped 80% as the yield curve shifted downwards by 15-55bps.