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Soak the bread: Place torn bread in a small bowl, pour milk over. Let sit 5 minutes. Mush with a fork into a paste.
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Preheat oven to 375°F (190°C). Line a rimmed baking sheet with foil.
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Combine ground beef, soaked bread, egg, onion, garlic, ketchup, Worcestershire, brown sugar, salt, pepper, thyme, and onion powder. Mix with your hands until just combined.
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Shape into a free-form loaf on the baking sheet, roughly 9x5x3 inches.
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Whisk together glaze ingredients. Spoon two-thirds over the meatloaf.
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Bake 45 minutes. Add remaining glaze, bake 15-20 more minutes until internal temp reaches 160°F.
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Rest 10 minutes. Slice thick and serve with mashed potatoes.