Our benchmark FNMA 4.5% bond fell 9bp to close at $101.72 after trading in a 57bp intra-day range and reaching a daily low of $101.34. Once again, bonds were weaker early in the session when stocks were stronger. Bonds then recovered most of their losses after 'quadruple witching' hit stocks with some extra volatility heading into the market close. 'Quadruple witching' takes place each quarter when contracts for stock index futures, stock index options, stock options and single stock futures all expire at the end of the session. Despite its 'spooky' title, quadruple witching has historically provided an upward bias for the stock market for the few days that follow from the unwinding of bearish positions in the futures and options markets. News of government assistance for the troubled Big 3 automakers also impacted the financial markets today. The Bush Administration announced the government will provide loans of $9.4 billion for General Motors and $4 billion for Chrysler with another $4 billion available in February if needed. Ford is looking for access to a $9 billion line of credit for financing a restructuring plan but said they hope it won't be needed. The major stock market indices ended 'mixed.' The Dow closed 25 points lower at 8,579 after trading in a 237 point range. The broader S&P 500 Index gained 2 points to end at 887 while the NASDAQ Composite Index recovered 11 points to close at 1,564.