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Strong front end bid remains, while long....>

US TSYS
US TSYS: Strong front end bid remains, while long end scales back losses as Fed
chair gets underway. Fitch chief economist Brian Coulton observation: "Fed
statement reads more like a pause than end of the hiking cycle...The balance
sheet normalization statement strengthens their commitment to the current
interest rate setting framework - which implies that the balance sheet will
remain large (by historical standards) into the medium-term - but we don't see
the current pace of run-off being altered to reflect monetary policy
considerations."

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