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TREASURIES-U.S. 10-year notes dip, take breather after rally
SINGAPORE Nov 9 (Reuters) - U.S. 10-year Treasuries edged lower on Friday, taking a breather from a rally triggered by worries about the looming fiscal cliff and renewed concerns about the euro zone's sovereign debt crisis.
* Ten-year Treasuries slipped about 2/32 in price to yield 1.627 percent, up 1 basis point from late U.S. trade on Thursday.
Still, even accounting for Friday's move, the 10-year yield is down about 9 basis points for the week.
* Treasuries have rallied the past few days as the market's focus turned to the fiscal cliff, looming tax increases and government spending cuts that would go into effect early next year, unless Congress acts to prevent them.
President Barack Obama's election victory on Tuesday has also supported bonds as it reinforced market expectations that monetary policy could stay loose for years amid moderate economic growth.
Uncertainty over when international lenders might decide to release the next tranche of aid for Greece has also helped stoke demand for safe haven Treasuries.
* "I think market players are starting to think that levels around 1.5 percent (for 10-year yields) might be possible," said Satoshi Okagawa, senior global markets analyst for Sumitomo Mitsui Banking Corporation in Singapore.
Such levels would seem pretty low, however, when taking into account the U.S. economy's potential growth rate, he added.
The 10-year yield dropped below 1.5 percent earlier this year, but only briefly. It poked below that threshold in early June and again in July and August, hitting a record low of near 1.38 percent in late July, when worries about the euro zone's debt crisis intensified.
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