40W26: SBV resumes net absorption while USDVND holds firm

During 40W26, the SBV returned to net liquidity drainage via repos as heavy maturities came due, prompting the ultra-short overnight rate to rebound while term rates cooled broadly across the curve amid subdued money market turnover. In the government bond market, secondary yields held largely steady as trading activity moderated, while primary auction issuance slowed considerably, though cumulative progress remained well ahead of last year’s pace. On the FX front, the domestic USDVND exchange rate edged up marginally but remained well-anchored below the key 26,000 threshold, weathering headwinds from broader greenback strength and persistent foreign equity net selling as the U.S. dollar trimmed its gains late in the week.