Investors once again are snapping up high-dividend-paying U.S. stocks as Treasury yields fall, which should keep utilities and telecom stocks near the top of the buying list for the near future. The S&P 500 utility sector (.SPLRCU), whose dividend yield at 3.9 percent is more than 100 basis points above the 10-year Treasury yield , led the S&P 500’s advance on Friday after concern about the launch of U.S. air strikes on Iraq drove the benchmark bond yield to 14-month lows. Any global worries that keep a bid in government debt, meanwhile, will motivate investors to go after stocks with fat dividend yields.

Philippines may offer about $750 million in global bonds in 2015, half the overseas debt it sold this year as the nation continues to favor domestic borrowing, Treasurer Rosalia de Leon said. Of the 700.8 billion pesos ($16 billion) borrowing planned for next year, 86 percent, or 605.1 billion pesos, will probably be raised from the local market and the remaining 95.7 billion pesos from overseas debt, de Leon said in a mobile-phone message reply to questions today. The overseas debt will include official development loans