TREASURIES-Dip in Asia before weekly jobs data, Bernanke

* Ten-year yield faces resistance at 3.8 pct

* Weekly jobs data awaited for clues about Fed rate outlook

By Rika Otsuka

TOKYO, July 10 (Reuters) - U.S. Treasuries slipped in Asia on Thursday as investors booked profits a day after government debt rallied on renewed concerns about the financial sector.

Yields on benchmark 10-year Treasury notes fell below 3.81 percent the previous day, hitting their lowest levels since late May as worries about more credit losses sparked an equity sell-off. [.N]

"Some investors took profits as the benchmark yield came close to 3.8 percent, seen as a resistance in the near term," said a senior bond trader at a European brokerage.

"Market participants believe fresh factors are needed to push the yield below that level," he said.

Losses in Treasuries were limited in Asian trade, however, as investors awaited weekly jobless claims data at 1230 GMT that could give another sign that the world's biggest economy is flagging and support expectations that the Federal Reserve may not raise interest rates from the current 2.00 percent anytime soon.

Fed Chairman Ben Bernanke said on Tuesday that the U.S. central bank's borrowing lines for primary dealers might stay in place into 2009, a signal the Fed is fearful of shutting down a vital backstop.

Bernanke's comments stoked concerns that the financial sector woes are far from being over and prompted investors to believe the Fed cannot lift rates before the year-end to fight inflation.

Credit jitters were fuelled on Thursday as there were rumours of problems at U.S. investment banks.

The 10-year Treasury note fell 3/32 in price to yield 3.821 percent US10YT=RR, up 1 basis point from late U.S. trade on Wednesday.

The two-year note, the sector most sensitive to shifts in expectations on monetary policy, dipped 1/32 in price to yield 2.402 percent US2YT=RR, rising 0.5 basis point from late New York.

The Treasury Deparment will sell $8 billion in 10-year Treasury Inflation-Protected Securities later in the day. Analysts said the auction should go smoothly as inflation pressures remain high on record oil and food prices.

Bernanke is due to speak at 1400 GMT, testifying on regulatory restructuring before the House Financial Services Committee.

Analysts do not expect Bernanke to say anything new or surprising. Still, the market will pay attention to his comments as they could move the stock market, which has been roiled this week by fears of more write-downs at banks and inadequate capital at mortgage finance government-sponsored firms -- Fannie Mae (FNM.N) and Freddie Mac (FRE.N).

Economists in a Reuters survey forecast a total of 395,000 new filings of first-time claims for jobless benefits for the week ended July 5, compared with 404,000 in the previous week. [ECI/US] (Editing by Michael Watson)