By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices declined on Wednesday, pushing long-term yields up, before the government's auction of 10-year notes. Yields on benchmark 10-year debt (UST10Y 2.46, +0.03, +1.03%) , which move inversely to prices, rose 2 basis points to 2.45%. Bonds turned up Tuesday afternoon following a weakly-subscribed 3-year (UST3YR 0.58, +0.02, +3.76%) auction and minutes from the Federal Reserve's meeting confirmed officials' inclination to ease more by buying bonds. Yields have fallen for four weeks in anticipation of the new program. "Long-term bull trends remain intact but short-term conditions are predictably overbought," said Bill O'Donnell at RBS Securities.
