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Yields on U.S. government debt turned mixed after data showed that job openings rose to 7.4 million in April even after President Donald Trump jacked up tariffs on the rest of the world.
"We're waffling back and forth and don't have too much market direction. We're not really going anywhere," said Gregory Faranello, head of U.S. rates trading and
strategy at AmeriVet Securities in New York. "The market is looking for a new catalyst here and I don't think we have it yet. ... I'm not seeing too much conviction in either
direction." Referring to Ukraine's drone strikes on Russian air bases, the strategist said that "we know there's geopolitical tension." In addition, he said,
"we are waiting for more information, partly on tariffs and partly on the tax bill," the latter of which is headed for a showdown between Democrats and Republicans in the Senate.