31.   Another problem was the lack of a secondary market for reselling cars turned back in by fleet operators.

32.   As as result, traders said, some investors have been moved from new issue sales to the secondary market.

33.   As investors sold bonds in the secondary market to take advantage of the lack of new issues, some of the buyers were the issuers themselves.

34.   As investors focused on the new sales, prices in the secondary market languished.

35.   As the market for cat bonds matures, secondary markets may develop, particularly if the bonds become standardized and bundled into portfolios.

36.   Avoiding the most intense battlegrounds with the major carriers, ValuJet is targeting secondary markets.

37.   Before approving a mortgage, lenders require appraisals to protect their investment and to make the loan eligible for sale to institutions in the secondary market.

38.   Bonds of Philip Morris and RJR Nabisco gained in secondary market trading, as investors view the debt as a better risk now that litigation risk could be diminished.

39.   Bonds of Philip Morris and RJR gained in secondary market trading, as investors view the debt as a better risk now that litigation problems could be diminished.

40.   Both versions also include savings from student loan program changes affecting lenders, loan guarantee agencies and secondary market loan buyers.