US sells 7-year notes at 3.626% vs 3.615% WI

• Prior was 4.062%

It’s been a mixed bag on this week’s auction schedule. Monday’s 2-year sale was terrible but yesterday’s 5-year sale was strong and that weighed on USD/JPY. However it’s another tail today and that may put a bottom in yields for the day. USD/JPY is near the highs of the day, up a whopping 180 pips but the reaction to this report is minimal.