In XAML, how do you bind a property element (not a property attribute)?

The typical way to do bindings in XAML is using property attributes, and this works just fine:

<Label Text="{Binding CategoryName}" />

One should also be able to bindings on property elements, but this doesn't work:

<Label>
    <Label.Text>
        <Binding Path="CategoryName" />
    </Label.Text>
</Label>

That approach fails with a TargetInvocationException upon creating the page.

Note that other Markup Extensions on a property element work fine, such as x:Static:

<Label>
    <Label.Text>
        <x:Static Member="local:GlobalResources.CategoryString" />
    </Label.Text>
</Label>

...and custom markup extensions:

<Label>
    <Label.Text>
        <local:LocalizedTextExtension Key="page_main_button_settings" />
    </Label.Text>
</Label>

Both of those work without problem. Can someone advise on how to make this work for Binding too, assuming it can be done?