US TSYS/SUPPLY: Preview 5Y Auction - Highest Yield Since July 2006
Tsy futures are near mid-morning lows (FVZ6 -16.25 at 103-23.5; TYZ6 currently -24 at 105-08) ahead of the $70B 5Y note auction (91282CRN3) at 1300ET, WI is currently running at 4.967% - highest since July 1, 2006 - and 57.4bp cheap to last month's tail. * August auction recap: Tsy futures held near lows after a small