(Bloomberg) -- Philippine three-year local- currency bonds fell for a fourth week on concern the government will miss its budget deficit target and resort to more borrowing. The peso declined.
Three-year bonds had the biggest weekly decline in at least six weeks after the government reported its widest monthly deficit in March in more than a decade, bringing the first- quarter shortfall to 52 billion pesos ($1.1 billion) or four- fifths of the full-year goal. Bonds also dropped this week on the resignation of National Treasurer Omar Cruz.
Read more at Bloomberg Bonds News
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