TREASURIES-Prices gain on worries over Spain, global growth

* 30-year Treasury bonds gain over a point in price

* Moody's downgrades Spanish regions including Catalonia

* U.S. stocks fall by over 1 percent

NEW YORK, Oct 23 (Reuters) - U.S. Treasuries rose on Tuesday, with 30-year bond prices trading over a point higher as Wall Street stocks fell on worries over the slow pace of global growth and its impact on corporate revenues. The safe-haven appeal of U.S. government debt was also supported by a cut in credit ratings for five of Spain's indebted regions, which added to worries over the euro zone member's finances and concerns over global economic growth. ``Risk is sharply lower this morning,'' said Richard Gilhooly, interest rate strategist at TD Securities in New York. Benchmark 10-year Treasury notes were trading 18/32 higher in price to yield 1.75 percent, down from 1.82 percent late Monday and about five basis points below the 200-day moving average. Treasury prices rebounded, along with German Bunds, after Moody's downgraded five Spanish regions including economically important Catalonia. European stocks fell, weighed down by a batch of bearish corporate outlooks, while U.S. stocks were down ``The Treasury market opens today's session firmer across the curve with risk-averse buying. There is no one specific reason but concerns around Spain and differences between Germany and France are both playing roles,'' said Justin Lederer, interest rate strategist at Cantor Fitzgerald in New York. The Treasury Department will sell two-year notes later in the session, kicking off $99 billion worth of supply this week which also includes five-year notes on Wednesday and seven-year paper on Thursday. Investors also were looking ahead to the Federal Reserve's policy meeting on Tuesday and Wednesday, but many expect the central bank to hold off on fresh steps for now. Thirty-year Treasury bonds were trading 1-14/32 higher in price to yield 2.90 percent, down from 2.97 percent late Monday. The risk-off tone of the market was supported by the Federal Reserve Bank of Richmond's manufacturing index for October, which fell to minus seven from plus four in September.

``Today's Richmond report aggravates the negative impression the market is getting from corporate earnings reports as managements suggest tougher times are ahead,'' said Lindsey Piegza, economist at FTN Financial in New York.