By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices rose on Wednesday, pushing yields down and erasing some of the prior session's move, as markets lose hope that European Union officials meeting later will announce concrete agreements to boost growth, keep Greece in the euro zone or guarantee bank deposits. Late Tuesday, bonds pared losses after former Greek Prime Minister Lucas Papademos said preparations must be made for Greece to leave the euro. Yields on 10-year notes 10_YEAR -1.24% , which move inversely to prices, fell 3 basis points to 1.74%. "The quick sentiment turnaround was sparked by a combination of yesterday's Papademos comments, and today's pre-emptive disappointment on the EU summit," said Bill O'Donnell, head of Treasury strategy at RBS Securities. Coming up is data on new-home sales and the government's sale of 5-year notes 5_YEAR -1.18% .
