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'Twas the night before rate decisions and all through the house, not a bond trader was stirring, not even their mouse.
In other words, the pre-decision calm on Tuesday was so absolute you could hear a bond coupon drop.
Leading up to today’s meetings, the real suspense hasn’t been about the cuts—25 beepers are already priced in. The question is what each central bank will say in its statements. Few are willing to bet big before these policy poets publish their verses, as just one unexpected adjective can erase weeks of expectations.
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