According to the Philippine Star on August 3, due to the U.S. Congress's decision to raise the debt ceiling and avoid a debt default, investor confidence has been restored. Yesterday, the Philippine government successfully conducted a bond auction, with total bids reaching 41.633 billion pesos, more than four times the planned issuance amount. Robert Chen, the Director of the Bureau of the Treasury, stated that the U.S. resolution has made the global outlook more stable, instilling confidence in investors.
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