SINGAPORE, Feb 3 (Reuters) - Treasury futures slipped

and traders lowered expectations for U.S. interest rate cuts on

Monday, figuring tariffs on the country's top trading partners

risked stoking inflation.

Ten-year U.S. Treasury futures were down about 3

ticks in early trade, giving an implied yield of 4.57% - not far

from where the cash market closed in New York on Friday.

Analysts said the lack of a bounce, despite selling in

equities and other risk-sensitive assets, showed investors were

focused initially on how higher prices may stall rate cuts.

Fed funds futures trimmed about 6 basis points from

rate cut expectations this year.

"Maybe markets are treating this more initially as more of

an inflation impact than a growth impact," said ANZ rates

strategist Jack Chambers, with traders perhaps counting on

tariffs being short-lived.