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IOER cut a bit of surprise though not a.........>

FED
FED: IOER cut a bit of surprise though not a shock. Still 'patient' otherwise,
apparently, with muted / declining Inflation and marked-to-market growth.
Breakevens falling, led by 2-yr 1bps lower at 1.7347 since the announce.
- Chair Powell press conference at 1430ET/1930BST.

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