PH borrowings fell 72% YoY in Aug (₱141.27B vs ₱508.53B) due to base effects from 2025’s RTB. 8M total is down just 0.5% with 82.6% of the target secured. As EMs adopt barbell strategies, BTr opens its next domestic RTB (Sep 29-Oct 7). Not austerity! #Macroeconomics #FixedIncome #2k115
