Business In Davao

The Philippines may sell as much as $1.5 billion of overseas bonds in the remainder of the year to fund its budget deficit, following issuance of $2.67 billion in the first quarter, TreasurerRoberto Tan said today.

The issuance would comprise the first global sale of peso- denominated bonds and dollar notes that are to be offered as . . . → Read More: Oversea Bonds

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 . . . → Read More: four-year bonds fell

Philippine bonds climbed on optimism the central bank will keep interest rates at a record low for an extended period as inflation remains within target.

Four-year securities rallied for a sixth day, pushing yields to the lowest level since the notes were first sold in January 2009, after Governor Amando Tetangco said the central bank has “policy . . . → Read More: Philippine bonds climbed

Philippine bonds fell on speculation the central bank will raise interest rates to contain inflation as economic growth gathers pace.

“The expectation of higher interest rates has been pushed forward,” said Jonathan Ravelas, a market strategist at Banco de Oro Unibank Inc. in Manila. “Faster-than-expected growth must be cooled to be sustainable. The central bank may probably . . . → Read More: Philippine bonds