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TREASURIES-Rise in Asia after falling on Wall St jump
* Treasuries recover a tad after falling on Wall St jump
* Doubts about abrupt stock rise support bids for bonds
* Fed officials forecast economic gloom
TOKYO, Nov 14 (Reuters) - U.S. Treasuries edged up in Asia on Friday in quiet trade, making up for some of the previous day's losses posted amid a late share rally on Wall Street.
Asian stock markets tracked the rise in U.S. stocks, with Tokyo's Nikkei share average rising 4 percent .N225.
But despite the stock rise and bond supply concerns, investors also bought safe-haven government debt on doubts about the sustainability of the latest jump in equities in view of deepening fears of a global recession.
"The market is watching whether concerns about a deeper economic slowdown will have a greater impact on Treasuries than worries about balloning bond supply to fund a government industry bailout," said a senior manager of securities investment group at a Japanese trust bank in Tokyo.
Minneapolis Fed President Gary Stern said on Thursday that the current U.S. downturn looked similar, but potentially worse, than one in the early 1990s, and growth could be held down by "financial headwinds" for one to three years.
The view that the economy is faltering and further rate cuts are likely from the U.S central bank was reinforced by data showing that the number of people staying on U.S. jobless roles jumped to a 25-year high this month. [ID:nN13349815]
Philadelphia Fed President Charles Plosser said that he anticipated a sharper decline in fourth-quarter gross domestic product than the 0.3 percent annualised fall logged in the third quarter, and that he expected the jobless rate to top 7 percent in 2009 versus the current 6.5 percent.[ID:nN13534650]
The benchmark 10-year note US10YT=RR rose 4/32 in price to yield 3.835 percent, down 2 basis points from late New York trade on Thursday.
The two-year note US2YT=RR was unchanged to yield 1.237 percent, staying above a five-year low of 1.145 percent hit the previous day.
Later in the day, bond investors will look to U.S. stocks, data on retail sales, and speeches from Fed officials including Chairman Ben Bernanke for market direction.
Bernanke will give a speech policy coordination among central banks at 1330 GMT, as the Group of 20 developed and emerging nations gather in Washington to discuss steps to address the financial crisis.
Thirty-year paper US30YT=RR rose 9/32 in price to yield 4.340 percent, down 2 basis points, after Thursday's weak auction of the maturity sent the yield as high as 4.366 percent. (Editing by Hugh Lawson)
