Yields jumped across all tenors due to tightening liquidity. Yields of shorter terms saw sharper increases with 1Y, 2Y, 3Y bond yields approaching levels seen early this year of 3.5% (+116 bps MoM), 3.61% (+93 bps MoM) and 4.06% (+41 bps MoM), respectively. Total trading turnover in the secondary market dropped 11.2% MoM to VND155tn (USD7.8bn) as bond prices continued to fall steeply. Net foreign outflows of VND2.64tn (USD115mn) in July were the sharpest in more than one and a half years.