(Bloomberg) -- Philippine three-year bonds fell for a fourth week on concern the government will miss its budget deficit target and be forced to raise borrowing. The peso rose for a fourth week.
Bonds slumped 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 its full-year estimate. Bonds also fell this week following an announcement that National Treasurer Omar Cruz would resign.
Read more at Bloomberg Bonds News
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