US Treasury futures soar full point on Nikkei plunge

TOKYO Thu Oct 9, 2008 8:39pm EDT

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TOKYO Oct 10 (Reuters) - U.S. Treasury futures soared more than a full point in Asia trade on Friday as Japan's Nikkei stock average plunged 11 percent, with the panic gripping investors deepening on fears about the faltering global financial system.

December 10-year T-note futures TYv1 jumped as much as 1-10/32 to 114-26/32. But gains in the cash market were limited. The safe-haven two-year note US2YT=RR was up 2/32 to yield 1.489 percent, down 3 basis points from late U.S. trade.

The 10-year note US10YT=RR was up 21/32 to yield 3.703 percent, down 8 basis points. (Reporting by Eric Burroughs; Editing by Rodney Joyce)