In June 2024, 2 bond issuers in the Power and Residential Real Estate sectors first-time failed to service their debt duties with a total outstanding value of VND 2.16 trillion bonds. The cumulative default rate slightly decreased from 15.9% in the previous month to 15.6%, with most of these bonds having missed prior coupon payments. New issuance continues to see positive momentum, with issuance in June 2024 reaching VND 69 trillion, higher than the value of VND 29 trillion in May 2024. Over the first half of 2024, new issuances amounted to VND 150 trillion, double compared to the first half of last year. Market turnover was stable, with trading value in June 2024 amounting to 7% of outstanding bonds, driven primarily by bank and real estate bonds trading.
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