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Nomura N.America Head of rate research...>

US TSYS/7Y
US TSYS/7Y: Nomura N.America Head of rate research George Goncalves and analyst
Penglu Zhao said they remain "cautious on demand" at today's 1pm ET US$28B
7-year note auction. 
- "The relative valuation of 7yr on the curve has been trading slightly in the
cheap range after the recent selloff," they said. "An increase in risk-off
sentiment might help the takedown." 
- But they also added "recent selling pressure has often occurred during the US
overnight, suggesting further lack of foreign sponsorship."

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