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FTN Financial's Jim Vogel said 7Y........>

US TSYS/7Y
US TSYS/7Y: FTN Financial's Jim Vogel said 7Y auction award "stopped thru 1bp at
1.941%, also below the 1.950-1.953% range in 45 mins prior to sale. Indirects
big at 68.8% with directs at whopping 16.6%. Dealers short at 14.6%, even lower
than 5-yr's 17.5% yesterday."
- He added that the "bid/cover of 2.46x" was "low but acceptable. Tender at high
of 84% matches the size of the stop given today's rally." 

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