31.   At the specified maturity date, the broker sells the securities and distributes the take to investors.

32.   Banks and securities firms that provide swaps often buy or sell Treasury securities to hedge against shifts in interest rates.

33.   Banks would be permitted to underwrite and sell securities through affiliates, for example, while securities firms and insurers could buy or set up banking affiliates.

34.   Bankers Trust recommends Argentine Brady bonds, and suggests selling Ecuadorean securities.

35.   BankAmerica is strong in making corporate loans and selling debt securities, although it lacks a significant stock operation.

36.   Bond traders said the company sold Treasury securities because a municipal pension fund decided to withdraw its business from the Newport Beach, California-based money management firm.

37.   Bonds also suffered from concern that Japan may sell Treasury securities to raise cash to bolster ailing banks.

38.   Bond firms often sell borrowed securities short to hedge against a decline in prices of new bonds they hold in inventory.

39.   Bonds tend to rise and fall in tandem with the currency as investors purchase and sell securities denominated in it.

40.   Bonds also declined amid speculation that hedge funds were selling Treasury securities, traders said.