Philippine ffor a third day after the government boosted its forecast for this year’s budget deficit and said it may step up debt sales.
The securities had their longest four-year bonds fell losing streak in two months after the government on July 9 widened the deficit estimate to 325 billion pesos ($7 billion), from 297.2 billion pesos, and Treasurer Roberto Tan said more debt sales may be needed. Internal Revenue Commissioner Kim Henares a day earlier said June collections were “not looking good.”
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