It didn't occur to me that you were trying to keep part of the formatting. Bold and italic are part of the font; most of the typefaces I work with come in many different weights. I don't commonly use any that have (for example) both italic and oblique forms, but there's nothing stopping a typeface from having multiple "slanted" forms.
Anyway, still not something I'd use as I haven't been trying to bring in text with formatting I care about, but I understand a bit better now. :)
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