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Investors seem to be in want of new drivers, leaving the capital markets with little fresh direction. While Japanese and China equities were little changed, several markets in the region, including Australia, Hong Kong, Taiwan, and India, were off more than 1%. European bourses are mostly higher after the Dow Jones Stoxx 600 slipped 0.4% yesterday. US shares are trading with a softer bias. Bond markets are subdued. The US 10-year yield is hovering around 70 bp ahead of the second leg of the record refunding. Core European bond yields are firm, while peripheral