1.   Bonds backed by mortgages and state and local governments lagged gains in benchmark Treasuries.

2.   German short-dated notes also lagged the gains of U.S. notes, a sign the market sees less room for the Bundesbank to reduce German rates again.

3.   Its share-price rise on the sales report lagged gains in the overall market.

4.   Mortgage securities lagged the gains of U.S. Treasuries as the decline in interest rates increased concern that refinancings will pick up.

5.   Mortgage and municipal bonds lagged the gains in the Treasury market.

6.   Mortgage bonds lagged the gains in government securities amid concern that lower yields will afford homeowners an opportunity to prepay the underlying loans.

7.   Municipal bonds were little changed, lagging gains in benchmark U.S. Treasury bonds, amid lingering concern that a strengthening economy will spur higher interest rates.

8.   New York stocks lagged gains in the technology-rich Nasdaq Composite Index.

9.   Tax-exempt securities have lagged the gains in Treasuries since the end of April, when the possible consequences of tax reform were first highlighted.

10.   Tax-exempt securities have lagged the gains seen among government securities since the end of April, when the possible consequences of tax reform were first highlighted.