(Bloomberg) -- Philippine bonds fell after National Treasurer Omar Cruz resigned, raising concern that the government may change plans to narrow its budget deficit. The peso recovered from earlier losses.
Ten-year bonds fell the most in more than a month after Cruz, 52, resigned effective June 1, citing family reasons that he didn't disclose. There were ``no policy differences'' with other government officials, the treasurer said late yesterday, damping speculation he's leaving because of a disagreement.
Read more at Bloomberg Bonds News
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