**VIETNAM G-BOND AUCTION: TREASURY RAISES VND 8.44 TRILLION** **Jan 28, 2026** — The State Treasury of Vietnam successfully raised **VND 8.44 trillion** ($323.8 million) in its latest government bond auction, facing a cooling market compared to the previous week's robust VND 12 trillion uptake. **Market Performance & Yields** The auction highlighted a clear preference for medium-term maturities, while demand for shorter and longer tenors evaporated. * **10-Year Bonds:** Dominated the session, accounting for the bulk of capital raised with a winning coupon of **4.04%**. * **15-Year Bonds:** Saw limited interest, with only 20% of the offering absorbed at a **4.12%** yield. * **5-Year & 30-Year:** Failed to attract buyers, recording zero sales volume. **Liquidity & Trends** Overall absorption dropped to **58%**, down from over 60% in the preceding auction. This pullback reflects a cautious sentiment in the fixed-income market as investors consolidate positions ahead of the Lunar New Year holiday season. **YTD Progress & Fiscal Context** This session brings total government bond sales for 2026 to **VND 24.4 trillion**. The State Treasury continues to lean on these issuances as the primary vehicle for funding Vietnam's critical public investment projects and sustaining economic growth targets for the year.