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Date: Friday 14 Mar 2008

LONDON (ShareCast) - Bonds surged ahead after JPMorgan Chase & Co. and the Federal Reserve agreed to provide funding for Bear Stearns, raising concerns about the credit market.

The news has hit the equity markets and prompted investors to switch to safer alternatives, such as government bonds.

Meanwhile, the US Labor Department said consumer prices were unchanged in January against expectations of a 0.3% gain. Core inflation, stripping out energy and food, was also unchanged against a 0.3% rise last month.

US treasuries surged ahead with the ten-year yield down over 10 basis points to 3.42%.

UK two year gilt yield fell 6 basis points to 3.82% with the ten-year gilt down 3 basis points to 4.33%.