A growing number of investors want to cash out of bonds they bought with financing from the Federal Reserve's Term Asset-Backed Securities Loan Facility. The reason: The bondholders feel the securities have reached their maximum values, meaning now is the time to sell and repay their TALF debt. Anything left over would be theirs to keep. Indeed, several bid lists of $150 million to $300 million that circulated over the past two weeks were heavy with TALF-eligible paper - with those issues commanding prices as high as 6 cents over par. And industry participants expect the pattern to continue in the coming weeks. The Fed offered its first round of TALF financing in March 2009 in an attempt to stir up demand for asset-backed bonds, and thus increase production of those deals' underlying credits. The values of qualifying securities have increased substantially since then.