TOKYO Dec 28 (Reuters) - U.S. Treasuries were close to their late U.S. levels in Asia on Friday, with investors hesitant to chase yields higher as the clock ticked towards the final hours of the U.S. "fiscal cliff" budget impasse.
* U.S. President Barack Obama and lawmakers plan another round of talks before a New Year's deadline to prevent the economy from facing a "fiscal cliff" of tax hikes and spending cuts that economists fear could tip the U.S. economy back into recession.
Harry Reid, the Democrat leader of the Senate, fanned fears on Thursday about the likelihood of the U.S. economy going over the cliff.
* "There is little action ahead of Japan's long holiday, with the 'fiscal cliff' issue still undecided," said a fixed-income fund manager at a European asset management firm in Tokyo.
Japanese markets will be closed for the long New Year's holiday until Jan. 4.
* On Dec. 31, the U.S. government is also set to reach its $16.4 trillion debt limit. The Treasury will have to take measures to push back the day when the government will exceed its legal borrowing authority in order to buy time for the government to approve a rise in the debt ceiling.
* Yields on 10-year Treasuries were at 1.73 percent in Asian trade on Friday, up slightly from 1.72 percent in late U.S. trade on Thursday, when they touched a nearly two-week low of 1.70 percent.
* Yields on 30-year Treasuries stood at 2.90 percent, compared with 2.89 percent on Thursday.