July 17, 2013 / 9:58 AM / 4 years ago

Vietnam bond yields hit 10-week high

HANOI, July 17 (Reuters) - Vietnam two-year and three-year bonds fell on Wednesday, with yields scaling highs of around 10 weeks and stretching a losing streak started by uncertainty over a weakening dong currency.

Yields on two-year government bonds increased 0.176 point to 7.28 percent and on three-year terms rose 0.068 point to 7.53 percent on Wednesday, according to Reuters fixing data.

They were the highest since May 10 and 13 respectively and were expected to climb further as more attractive investment options become available, traders said.

Vietnam had the fastest-growing government bond market in emerging East Asia in the first quarter, the Asian Development Bank said in June.

However, demand has slumped over the past two months. Foreign investors sold heavily during June and the State Treasury and banks have struggled to sell bonds at recent auctions. ($1=21,230 dong) ($1 = 21222.5000 Vietnam dong) (Compiled by Hanoi Newsroom; Editing by Martin Petty)

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