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Fixed income June 2012 - G-bond demand slows down, yields flatten

Fixed Income
18/06/2012
Macro Brief Central bank slashes deposit rate cap by 2% and policy rates by 1% on a better inflation outlook, signalling further policy easing. However, the economic outlook remains gloomy after the government estimated only 4.5% GDP growth in the second quarter, affirming fears that local businesses may be in trouble. From the National Assembly, the government said that it would take strong actions to get things back on track, vowing to pump VND21 trillion (USD1 billion) per month into the econ