Bond yields dip to record lows but at a decelerating pace. March G-bond issuance increased 10.1% MoM to VND11tn (USD486mn), but the winning rate dropped to 66.2% from 84.9% in February. In Q1 2018, the VST issued VND40.4tn (USD1.78bn) of G-bonds, reaching 89.8% of the Q1 issuance plan and 20.2% the full-year target. Secondary market turnover surged 72% MoM, which helped the average daily trading value advance 17.2% MoM and 67% YoY to VND12.3tn (USD543mn).