But Argentina's bonds, on which the government has defaulted, declined 66.9 percent in value.

Although bonds of many different qualities declined during the quarter, those with lower grades fell much further than their higher-quality brethren.

The 30-year bond declined 16/32, to 992/32 to yield 6.70 percent.

When corporate revenue falters, the bonds can decline in value.

The 30-year bond declined 16/32, to a price of 99 2/32 to yield 6.70 percent, up from 6.66 percent last week.

Protected by their dividend, however, the bonds have declined only 19 percent.

Other Latin American stocks markets fell, too, and emerging-market bonds declined.

When the bonds declined in value, Rail Joint repurchased them for less than their face amount.

In other words, when stocks and bonds decline, commodities tend to appreciate.

The 30-year bond declined 14/32 , to a price of 10115/32 .