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]]> 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 part of a debt exchange, Tan said. The government aims to trim overseas sales to about $2.5 billion next year, he said.

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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 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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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 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 space to support non-inflationary growth.” The monetary authority is sticking to its average inflation forecast for this year and 2011 even as Manila’s wage-setting council approved an increase in minimum pay, Deputy Governor Diwa Guinigundo said.

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“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]]> 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 tweak its monetary policies earlier than expected. The earliest would probably be June 3.”

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