91.   The loss was mainly due to a rise in the value of its bond portfolio.

92.   The loss was due to restructuring costs and losses on its bond portfolio.

93.   The other is David E. Wyman, chairman of Kirkland-based Prime Advisors, which manages bond portfolios for insurance companies.

94.   The shorter the duration of a bond portfolio, the less an investor gains in a rally.

95.   This shortens the average maturity of bond portfolios, changing their risk, because the mortgages and bonds paid off have longer maturities.

96.   Thus, by selling futures, the bank sacrifices potential gains in its bond portfolio for protection against losses.

97.   Trouble is, the duration of mortgage bond portfolios shortens as rates fall and refinancings, and prepayments, become more likely.

98.   With rates moving down, investors are understandably confounded by losses in their bond portfolios.

99.   You need a bond portfolio at least that large to justify buying bonds on your own.

100.   You can certainly forget about a bond portfolio for quite a few years.