21.   Mortgage securities gained less than U.S. Treasuries amid concern that more consumers will refinance the underlying loans, redeeming the bonds early.

22.   Mortgage securities lost as much as Treasuries amid concern the bonds will be redeemed early by a wave of refinancings.

23.   Mortgage securities lost as much as Treasuries as a one-month increase in rates calmed concern the bonds will be redeemed early.

24.   Now countries are redeeming Brady bonds and borrowing directly.

25.   Now many countries are redeeming Brady bonds and borrowing directly.

26.   One series of the bond offering underwritten by First Boston allowed bondholders to redeem bonds for cash.

27.   Rising defaults could force card companies to redeem their bonds early, leaving bondholders with the prospect of investing in new securities with lower returns.

28.   Shortly after the turn of the century, however, Social Security payroll taxes will bring in less than needed, forcing the government to redeem the bonds.

29.   That helps investors avoid losing as much as five months worth of interest if they redeem the bonds at the wrong time.

30.   That means that when the bonds are redeemed, the money will come from the federal government.