TREASURIES-Edge up in Asia as regional shares fall

TOKYO, Jan 22 (Reuters) - U.S. Treasuries edged up in Asia on Friday, adding to the previous day's gains with regional shares falling after the Obama administration proposed limiting risk-taking at banks.



* Tokyo's Nikkei share average fell 3 percent as the yen surged with investors reducing yen-funded risky positions after U.S. President Barack Obama threatened to fight Wall Street banks with a new proposal to curb excessive risk taking.



* Falls in Asian shares and commodity prices gave mild support to safety buying of U.S. government debt.



* T-note futures rose 5/32 to 117-31/32. Benchmark 10-year notes edged up 1/32 in price to yield 3.588, a one-month low and down about a basis point from late New York trade.



* Two-year notes were little changed in price to yield 0.833 percent, while 30-year bonds rose 4/32 in price to yield 4.488 percent, down about a basis point.



* Given the absence of key data on Friday, Treasury prices will take their cues from U.S. stocks and political as well as regulatory developments, investors said.



* U.S. Treasury Secretary Timothy Geithner expressed some scepticism behind closed doors about the broad bank limits proposed by Obama, financial industry sources said.



(Editing by Joseph Radford)

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