European Bonds Advance on Mortgage Liability Concerns, as Stocks Decline

(Bloomberg) -- European government bonds climbed for
a second day on concern about the U.S. subprime mortgage market,
and as falling global equity markets attracted investors to the
safest assets.

The gains in debt pushed yields on 10-year bunds, Europe's
benchmark, down from the highest in almost five years. Investors
shifted money out of risky assets such as shares on speculation
institutional investors will have to write down the value of
securities with subprime mortgages as Bear Stearns Cos. fought to
stop the collapse of a hedge fund that lost 20 percent this year.


Read more at Bloomberg Bonds News