51.   In that sense, weak Tokyo stocks could hurt bonds by forcing investors to extract more profit from their bond portfolios.

52.   Insurance companies own loads of Treasury bonds, so a yield rise of that magnitude decreases the value of their bond portfolio.

53.   Insurance companies own loads of Treasury bonds, so any yield rise of that magnitude works to depress the value of their bond portfolio.

54.   Insurers are hurt by a decline in bonds, which devalues their large bond portfolios.

55.   Indiana and South Carolina both are asking voters to amend state constitutions so fund managers can add stocks to their bond portfolios.

56.   Insurance companies and banks benefit from low interest rates, which can boost the value of their large bond portfolios.

57.   Insurers, for example, would be hurt by another rate rise because it would devalue their large bond portfolios.

58.   Insurers, which hold bond portfolios, also gained.

59.   Instead, it likes relatively sleepy savings bank branches where loyal customers keep long-term deposits, and it uses that money to finance a sophisticated bond investment portfolio.

60.   Insurance firms are sensitive to movements in the bond market because they hold large bond portfolios.