Obbligazioni valute high yield Vietnam

[Gaudente]

inflazione in salita

Inflation still a thorn in the side of banks | Vietnam Business News
+1,5% nel mese di ottobre , variazione annua sale dal 8,9% di settembre al 9,8%

 

[Gaudente]

lo scorso settembre mi trovavo in Vietnam appunto per investire in bond corporate, forse dovrei ringraziare il funzionario della Sacombank per non avermi permesso di aprire il conto

 

[samantaao]

ciao Gau, era un po' che non ti leggevo, bentornato

altro che catene, ora gli schiavi si fanno con la moneta... immoralità nascosta ed efficacia assoluta...

 

[qquebec]

ciao Gau, era un po' che non ti leggevo, bentornato

altro che catene, ora gli schiavi si fanno con la moneta... immoralità nascosta ed efficacia assoluta...

Verissimo

 

[Gaudente]

downgrade Moody's

La Vinashin - societa' edile a controllo statale - annuncia di non essere in grado di pagare una scadenza e Moody's ha abbassato il rating sia del Vietnam che delle sue banche. La borsa di Saigon ri-rotola a 480.

Vietnam Stock Index Slumps Most Since August After Moody's Lowers Rating - Bloomberg

Vietnam stocks slumped, dragging down the benchmark index by the most since August, after Moody’s Investors Service lowered the country’s credit rating.
Vincom Joint-Stock Co., Vietnam’s biggest publicly traded property developer, and Bao Viet Holdings, the nation’s largest insurer, both slumped more than 4 percent, pacing stock declines. Equities fell after Moody’s yesterday cut the country’s long-term foreign-currency rating to B1 from Ba3, citing the risk of a balance of payments crisis and a drop in foreign reserves as inflation accelerates and the nation’s currency weakens.
The VN Index slid 2.7 percent to 480.21, the biggest decline since Aug. 24, at the 11 a.m. close on the Ho Chi Minh City Stock Exchange. The measure was the worst performer in Asia today. It rallied 16 percent from a three-month low on Nov. 17 through yesterday, when the gauge closed at its highest level since July 30. Stocks have climbed as the government took steps to combat inflation including tightening bank lending.
“The timing of the Moody’s downgrade was just after a three-week rise so market players may have used that as an excuse to take profits and stay on the sidelines for now,” said Mark Canizares, head of equities at Manulife Asset Management (Vietnam), which has about $280 million of assets.
Vincom retreated 4.7 percent, the most since May 19, to 102,000 dong. Bao Viet lost 4.8 percent, the biggest decline since Sept. 10, to 69,500 dong.
‘Debt Distress’
The Moody’s rating, four steps below investment grade, leaves Vietnam on par with Sri Lanka and Mongolia, according to data compiled by Bloomberg. The ratings company also highlighted “debt distress” at state-owned Vietnam Shipbuilding Industry Group, known as Vinashin.
The company had debt of about 86 trillion dong ($4.4 billion) as of June, the government said in August. Vinashin’s potential failure to make debt payments is likely to undermine the credit quality and profitability of Vietnam’s banks, Standard & Poor’s said on Dec. 13.
FPT Corp., Vietnam’s biggest listed telecommunications and software company, sank 3 percent to 65,500 dong, the lowest level since June 8. Vietnam Export-Import Commercial Joint-Stock Bank lost 4.7 percent, the most since Nov. 26, to 16,400 dong.

 

[Gaudente]

Nel frattempo continua il caos sui mercati valutario e monetario: il tasso sui depositi ha toccato un picco del 18% prima di essere calmierato per legge al 14% , e mentre continua la farsa del cambio ufficiale inchiodato a 19.500 dong per $ , il cambio nero sta sopra 21.000 .
Ora ditemi voi come ci si puo' aspettare un ritorno dei capitali esteri se questi arrivando via swift internazionale devono immediatamente beccarsi una perdita sul cambio di quasi l'8%. Ma si sa i compagni del PC vietnamita sono dei geni ...

Vietnam Bonds, Dong Hold Steady After Central Bank?s Rate Cap - Bloomberg

Vietnam’s government bonds and currency held steady after the central bank set a limit for dong deposit interest rates at lenders.
The State Bank of Vietnam today instructed commercial banks to keep dong deposit rates at a maximum of 14 percent, “including all forms of promotion,” the bank said in a statement on its website. The move is aimed at stabilizing the money market, it said.
Deposit rates at some banks surged to as high as 18 percent last week, triggered by Vietnam Technological & Commercial Joint-Stock Bank when the lender, known as Techcombank, offered rates as high as 17 percent through a program called “Three Golden Days,” the central bank said in a separate statement today. The State Bank has ordered Techcombank to stop the program and lower its deposit rates.
The yield on the benchmark five-year notes was unchanged for a second day at 11.50 percent today, according to a daily fixing price from banks compiled by Bloomberg.
The dong traded at 19,498 per dollar as of 4 p.m. local time, compared with 19,495 yesterday, according to prices from banks, compiled by Bloomberg. The central bank set today’s reference rate at 18,932, unchanged since Aug. 18, according to its website. It is allowed to trade as much as 3 percent on either side of that rate.
The currency changed hands between 21,030 and 21,100 this afternoon at gold shops in Ho Chi Minh City, compared with between 21,120 and 21,200 yesterday, according to a telephone information service run by the state-owned Vietnam Posts & Telecommunications.
After markets closed in Vietnam, Moody’s Investors Service lowered the country’s sovereign credit rating, citing accelerating inflation and policy faults that are resulting in “macroeconomic instability.”
Vietnam’s long-term foreign-currency rating was cut to B1 from Ba3, with a negative outlook, the company said in a statement today. The new rating, four steps below investment grade, leaves Vietnam on par with Sri Lanka and Mongolia, according to data compiled by Bloomberg

 

[Gaudente]

Inflazione al galoppo

variazione annua all'11,75% (era l'11,09% in novembre), variazione mensile 1,98% , inflazione alimentare annua 16,18%.
Il cambio per il momento tiene con l'ufficiale inchiodato ai soliti 19498 dong per $ e quello reale a 21110.
Vietnam's Inflation Jumps to 22-Month High on Weak Currency, Loan Growth - Bloomberg

 

[qquebec]

variazione annua all'11,75% (era l'11,09% in novembre), variazione mensile 1,98% , inflazione alimentare annua 16,18%.
Il cambio per il momento tiene con l'ufficiale inchiodato ai soliti 19498 dong per $ e quello reale a 21110.
Vietnam's Inflation Jumps to 22-Month High on Weak Currency, Loan Growth - Bloomberg

A questo punto mi domando cosa resta di buono in Vietnam

 

[Gaudente]

direi proprio nulla: tralasciando il loro bizzarro requisito del certificato penale (che francamente non saprei neanche come procurarmi) per aprire un conto con un broker , resta il problema del cambio ufficiale farlocco in banca: chi e' il fesso che fa uno swift di un importo consistente in USD per farseli convertire in dong al tasso di 19500 mentre in strada per un verdone di dong te ne danno 21000 ?
E' chiaro che chiunque volesse fare un investimento sta alla finestra in attesa che il cambio ufficiale si allinei , il che aggrava la scarsita' di valuta estera disponibile nel paese.

 

[Gaudente]

quello del certificato penale poi non e' l'unica bizzarria che ho trovato: ad esempio se avessi voluto investire in un deposito bancario vincolato a lunga scadenza, avrei dovuto essere residente nel paese e restarvi per tutta la durata del deposito , non sto scherzando, oltre ai miei soldi avrei dovuto "depositare" la mia persona