Subprime fears boost bonds

NEW YORK (CNNMoney.com) -- Bond prices ticked higher Monday as more woes in the subprime lending sector sent jitters through Wall Street.

The dollar fell against the euro and the yen.

The benchmark 10-year note rose 8/32, or about $2.50 for every $1,000 invested, to yield 4.56 percent, down from 4.59 percent late Friday.

The 30-year bond added 10/32, or $3.12 on a $1,000 bond, to yield 4.71 percent, down from 4.72 percent in the previous session. Bond prices and yields move in opposite directions.

The five-year note gained 7/32 to yield 2.18 percent, while the two-year edged higher 2/32 to yield 4.65 percent.

Subprime mortgage lender New Century Financial detailed more problems about its business in a filing Monday. (Full story)

Stock futures fell as investors worried about how wide the subprime mortgage industry's woes could spread and bonds rose in a flight to safety move. Subprime lenders make home loans to borrowers with weak credit.

In currency trading, the dollar fell against the yen and the euro. The dollar bought ¥117.53, down from ¥118.23 late Friday. The euro bought $1.3189, up from $1.3108 the previous session.

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