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Treasury and mortgage bond holdings.

That triggers a loan payoff and shortens the maturity of a mortgage bond.

It includes Treasury and mortgage bond buying, which now amounts to $120 billion a month.

As a result, the Fed is edging toward an announcement that it will soon begin paring the pace of its Treasury and mortgage bond buying, which now amounts to $120 billion a month.

Both Treasury and mortgage bond purchases contribute to overall financial accommodation, financial markets being supportive of economic recovery, and that’s why you can’t simply say, ‘Well, the housing market’s strong, let’s pull them away.’