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Bond traders seek shelter ahead of FOMC meeting

They're piling into safest, most liquid securities available or buying Treasuries

New York

THE greatest monetary-easing cycle in the history of the US has left a mind-boggling amount of cash floating around in the economy. Banks hold US$2.5 trillion in excess reserves - money they essentially don't know what to do with - at the Federal Reserve.

So as the Fed...

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