VST issued VND9.9tn (USD428.6mn) of G-bonds in December (-28.2% MoM). In FY 2019, total G-bond issuance reached VND197.8tn (USD8.6bn), up 19.3%. G-bond yields continued their declining trend with 5Y yields falling 37 bps to 2.0%, while 10Y and 30Y slid three bps and 10 bps to 3.48% and 4.55%, respectively, in primary market.