1.   Steady rates would diminish the risk that ever-more homeowners will refinance the mortgages underlying the bonds.

2.   Fortunately, the flow rate diminished daily.

3.   Higher rates diminish the value of securities with a fixed rate of return.

4.   Higher rates would diminish the value of fixed-rate munis, which are already considered expensive by many investors when compared with taxable securities.

5.   Lower rates diminish the appeal of debt and bank deposits in the Australian currency, known informally as the Aussie.

6.   Mortgage securities matched the losses of Treasury notes as steady-to-higher rates diminished the risk the bonds will be repaid earlier than expected.

7.   Rising rates diminish the value of assets with a fixed rate of return such as bonds.

8.   Lower rates would have diminished the attractiveness of mark-denominated investments, indirectly bolstering the dollar.