Foreign investor demand for the US Treasury's 7 year Note Auction (the 1st auction of 7 year notes since 1993) was solid but the yield/rate required by these investors was 2.748%, which was higher than what analysts had been expecting.  The yield/rate on the 10 yr Treasury has now risen to 2.98% (up almost 1% from its low of 2.038% in Dec 08).