DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
N.A
1. NAME OF REPORTING PERSON
Bulldog Investors, Phillip Goldstein and Andrew Dakos
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
7. SOLE VOTING POWER
3,066,925
8. SHARED VOTING POWER
0
9. SOLE DISPOSITIVE POWER
3,066,925
10. SHARED DISPOSITIVE POWER
0
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
3,066,925
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES []
13. PERCENT OF CLASS REPRESENTED BY ROW 11
5.97
14. TYPE OF REPORTING PERSON
IA
Item 1. SECURITY AND ISSUER
This Schedule 13D relates to the shares of Common Stock of MFS Government
Markets Income Trust ("MGF"). The principal executive offices of MGF are
located at 500 Boylston Street, 15th Floor, Boston, MA 02116.
Item 2. IDENTITY AND BACKGROUND
This statement is filed on behalf of Bulldog Investors, Phillip Goldstein,
60 Heritage Drive, Pleasantville, NY 10570 a principal of Bulldog Investors
and Andrew Dakos, Park 80 West, Plaza Two, Saddle Brook, NJ 07663, also a
principal of Bulldog Investors. Mr.Goldstein and Mr. Dakos are self-employed
investment advisors. During the past 5 years none of the above has been
convicted in a criminal proceeding, nor been party to a civil proceeding of
a judicial or administrative body of competent jurisdiction as
a result of which they were or are subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation
with respect to such laws.
Each of the above are United States citizens.
ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATIONS
Shares of the issuer have been accumulated with funds from accounts managed
by the reporting persons.
ITEM 4. PURPOSE OF TRANSACTION
MGF's stock price is significantly less than its net asset value. The
reporting persons may take action in the future to increase the value of
their investment if MGF's stock continues to trade at a significant
discount to its net asset value.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
As per the N-CSR filed on 2/2/2007 there were 51,332,555 shares of MGF
outstanding
as of 11/30/06.
The percentage set forth in item 5 was derived using such number.
Phillip Goldstein, Andrew Dakos and accounts managed by the reporting
persons beneficially own an aggregate of 3,066,925 shares of MGF or
5.97% of the outstanding shares. Power to dispose and vote securities
lie solely with Phillip Goldstein and Andrew Dakos.
c) During the past 60 days the following shares of MGF were purchased
(there were no sales):
Date Shares Price
1/3/2007 800 6.51
1/10/2007 3,000 6.52
1/11/2007 1,300 6.52
1/24/2007 21,800 6.52
1/24/2007 10000 6.513
1/25/2007 6,700 6.52
1/25/2007 1,800 6.52
1/25/2007 1,300 6.52
1/25/2007 1,500 6.52
1/25/2007 8,700 6.52
1/25/2007 1200 6.52
1/26/2007 15,200 6.51
1/26/2007 5,000 6.51
1/26/2007 1,900 6.51
1/26/2007 4,600 6.51
1/26/2007 3,500 6.51
1/26/2007 19,800 6.51
1/29/2007 6,100 6.51
1/29/2007 1,900 6.51
1/29/2007 1,500 6.51
1/29/2007 1,700 6.51
1/29/2007 1,600 6.51
1/29/2007 7,000 6.51
1/30/2007 25,000 6.5069
1/30/2007 7,500 6.5069
1/30/2007 3,000 6.5069
1/30/2007 6,800 6.5069
1/30/2007 5,700 6.5069
1/30/2007 32,000 6.5069
1/31/2007 24,400 6.4938
1/31/2007 7,400 6.4938
1/31/2007 4,100 6.4938
1/31/2007 6,800 6.4938
1/31/2007 6,300 6.4938
1/31/2007 31,000 6.4938
2/2/2007 2,500 6.52
2/5/2007 4,500 6.52
2/5/2007 5,000 6.52
2/6/2007 4,700 6.52
2/6/2007 5,000 6.52
2/7/2007 4,100 6.52
2/7/2007 5,000 6.52
2/8/2007 6,200 6.52
2/8/2007 2,100 6.52
2/8/2007 1,900 6.52
2/8/2007 1,500 6.52
2/8/2007 7,500 6.52
2/9/2007 8,500 6.5
2/9/2007 3,500 6.5
2/9/2007 2,000 6.5
2/9/2007 11,000 6.5
2/12/2007 2,100 6.48
2/12/2007 2,000 6.48
2/12/2007 2,000 6.48
2/13/2007 700 6.49
2/14/2007 3,300 6.5
2/15/2007 4,800 6.5
2/15/2007 1,500 6.5
2/15/2007 2,000 6.5
2/15/2007 1,300 6.5
2/15/2007 6,100 6.5
2/16/2007 8,800 6.517
2/20/2007 12,700 6.5348
2/20/2007 3,900 6.5348
2/20/2007 5,000 6.5348
2/20/2007 5,000 6.5348
2/20/2007 3,700 6.5348
2/20/2007 3,400 6.5348
2/20/2007 15,800 6.5348
2/21/2007 10,000 6.5308
2/21/2007 1,500 6.5308
2/21/2007 3,100 6.5308
2/21/2007 2,900 6.5308
2/21/2007 2,500 6.5308
2/21/2007 12,300 6.5308
d) Beneficial Owners of the accounts managed by the reporting persons
are entitled to receive any dividends or sales proceeds.
e) NA
ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1. Joint Filing Agreement
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true,
complete and correct.
Dated: 2/23/07
By: /s/ Phillip Goldstein
Name: Phillip Goldstein
By: /s/ Andrew Dakos
Name:: Andrew Dakos
Exhibit 1. Joint Filing Agreement
In accordance with Rule 13d-1 (k) (1) under the Securities
Exchange Act of 1934, as amended, the persons named below
agree to the joint filing on behalf of each of them of the
Schedule 13D (and all further amendments filed by them)
with respect to the shares of MGF.
Dated: 2/23/07
By: /s/ Phillip Goldstein
Name: Phillip Goldstein
By: /s/ Andrew Dakos
Name: Andrew Dakos