Fixed Income November 2014 - Budget Deficit and Maturing Bonds in 2015 raise concern of oversupply, yields rebound

• 18 Nov 2014
• Fixed Income

Government issuances were down 41% m-o-m as traders demanded higher yields. The NA passed a budget deficit of VND226tn for 2015 compared to VND224tr for 2014. However, there are VND127tr in bonds maturing in 2015 compared to VND72tr in 2014 which has rais