TOKYO Jan 30 (Reuters) - U.S. Treasuries slipped in Asia on Wednesday, sending the yield on 10-year notes to a nine-month high above 2 percent, though how much it will rise above that big level could hinge on the U.S. Federal Reserve's view on the economy.
* The yield on 10-year notes rose to as high as 2.021 percent, its highest since April last year, as the market extended its losing streak to the fifth day. It last stood at 2.012 percent, up from around 2.00 percent in late U.S. trade.
* Treasuries have been sold as investors unwound safe-haven buying in Treasuries as European financial markets are returning to normal and also as market players sought price concession for this week's auctions.
* The Treasury will sell $29 billion of seven-year notes on Wednesday, following sales of $35 billion five-year notes on Tuesday and $35 billion two-year notes on Monday.
* "People are trying to re-evaluate what the new potential ranges are... We broke through the 2 percent, so the technicals aren't great," said a trader at a European brokerage, adding that there may be buying interest from investors at 2.08-2.10 percent.
* Selling could accelerate further if the Fed policy statement due at 1915 GMT on Wednesday contains an upgrade on its economic assessment and any hints of uneasiness within the central bank around its asset-buying program.
* "A big question is whether the Fed is still cautious on the economy following recent improvements in Europe and U.S. fiscal cliff talks. If the Fed becomes more optimistic in its economic assessment, which I think is a bit more likely than not, then the Treasuries could come under pressure," said Hiroki Shimazu, fixed income analyst at SMBC Nikko Securities.
* Aside from the Fed, investors are looking out for the first estimate of U.S. fourth-quarter GDP due at 1330 GMT.