Bond investors interested in securities with top ratings have few choices other than Treasurys, which helps the government sell massive amounts of debt to refinance the deficit. The supply of mortgage-backed securities, corporate bonds and debt linked to consumer loans might decline by $1.3 trillion in 2010, while net issuance of Treasurys is expected to increase by $1.2 trillion, said Jeffrey Rosenberg, a fixed-income strategist at Bank of America Merrill Lynch.

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