binding.atom renders non-ASCII UTF-8 characters incorrectly

When using binding.atom for a feed reference, non-ASCII UTF-8 characters in the feed are rendered incorrectly.

For example, when running the feed-aggegrator and feed-aggregator-webapp samples, the first blog entry is displayed as:

Jason Grigsby’s DOs and DON’Ts of Mobile Strategy
15 October 2010 20:47

It should be:

Jason Grigsby's DOs and DON'Ts of Mobile Strategy
15 October 2010 20:47