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And Nomura analysts add that "after......>

US TSYS/7Y
US TSYS/7Y: And Nomura analysts add that "after two consecutive mediocre auction
results, we expect an average takedown for the 7yr, if not weak sponsorship. The
7yr has been trading rich on the curve and outright, suggesting little value of
owning at the current level, especially given an almost 100% probability of a
December hike. The collateral funding cost is also cheapening after the recent
deluge of T-bill issuance, which may further dampen the interest in owning the
paper." 
- But they also said "on the positive side, corporate issuance into year-end is
cooling down, and volatilities across assets remain persistently low, supporting
carry trades and duration takedown."

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