Vietnam's bonds on the rise, driving yields to 10-month low

Vietnam’s five-year government bonds rose, driving yields to a 10-month low on speculation slowing inflation will to cut borrowing costs.

“Monetary policy should ease soon, while the positive downward trend in inflation is making bond yields go lower,” said Francois Chavasseau, head of fixed-income research at Sacombank Securities Joint-Stock Co. in Ho Chi Minh City.

The dong was little changed.

The State Bank of Vietnam instructed lenders to “reduce interest rates to levels that are suitable to the macroeconomic situation,” according to a statement posted yesterday on its website.

Gains in consumer prices cooled for a fifth month in January, climbing 17.27 percent from a year earlier.

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