bated breath

PNB,
Not about your sentiments, it's about your English: the word is "BATED." See the Macquarie Dictionary for:
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bate: // (say bayt)
verb (t) (bated, bating)
1. to moderate or restrain (the breath): to wait with bated breath.
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'Bait' is about fishing, whether it's for the gilled species that swim in water, or fishing for hot stock tips...