11.   Bank shares, which tend to rise and fall with bond yields because of their sizable bond holdings, are likely to decline.

12.   Banks flourish in an environment of low inflation and interest rates, as the fixed payments earned on their bond holdings maintain value over time.

13.   Banks such as J.P. Morgan, which have big bond holdings as well as large international businesses, led the advance.

14.   Banks tracked bonds lower, reflecting the shrinking value of their large bond holdings.

15.   Banks, securities firms and insurance companies particularly benefit because the value of their massive bond holdings rises.

16.   Banks, which typically have large bond holdings, were lifted by the rally in bonds.

17.   Banks, whose massive bond holdings lose value when yields rise, were particularly hard hit.

18.   Bonds also got support as traders began to buy futures contracts to offset earlier contracts they had entered as a hedge against price declines on their cash bond holdings.

19.   Bonds also got support as traders continued to buy futures contracts to offset earlier contracts they had entered as a hedge against price declines on their cash bond holdings.

20.   Bond investors, however, were disappointed, selling off some of their bond holdings and pushing interest rates higher.