(Bloomberg) -- U.S. Treasuries rose after Moody's
Investors Service cut the ratings on $5.2 billion of bonds
backed by subprime mortgages, spurring demand for the safest
assets.
Benchmark 10-year bonds gained for a third day, pushing
yields to the lowest in more than a month. German bunds also
advanced and Japanese government debt rallied the most in 10
months on speculation a deepening U.S. housing slump will slow
the world's biggest economy. Stocks fell in the U.S., Europe and
Asia, and the risk of owning European corporate bonds soared.
Read more at Bloomberg Bonds News
Investors Service cut the ratings on $5.2 billion of bonds
backed by subprime mortgages, spurring demand for the safest
assets.
Benchmark 10-year bonds gained for a third day, pushing
yields to the lowest in more than a month. German bunds also
advanced and Japanese government debt rallied the most in 10
months on speculation a deepening U.S. housing slump will slow
the world's biggest economy. Stocks fell in the U.S., Europe and
Asia, and the risk of owning European corporate bonds soared.
Read more at Bloomberg Bonds News
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