Yamaha 9.9 4 stroke squeal

Good evening.

I have detected a squeal emitting from my OB when I am in low RPM while leaving the dock and moving across the harbor. My OB in on a sailboat so I do not normally run it wide open. I thought at first it was belt squeal and I got some spray for that. But giving it a really good listen, it sounds like it is coming from the lower unit.

I am sure it is not the water pump. It is probably the shaft, but what could it be rubbing against to generate the squeal.

Thanks for any thoughts or comments. I have searched the archive and could not find anything. Thanks again.

[boats.net]

It shouldn't be rubbing against anything, may have to drop lower unit to see what is rubbing.