A very strong 7-year note auction looks to be pushing down Treasury yields even further. The bid-to- cover ratio was the highest in the history of the issue (3.24), at least since it was reintroduced in 2009. This is usually the hardest of the Treasury maturities to offload.
USD/JPY trades at 81.37. Lower yields tend to weigh on USD/JPY. Demand for Treasuries is also a sign of risk aversion, a JPY plus.
