Treasurys rise on worries over Greek rescue plan

NEW YORK -Troubles in Europe and a weak retail sales report pushed Treasury prices higher Tuesday.

European finance ministers postponed a meeting at the last minute to discuss a rescue plan for Greece, saying Athens had failed to meet lenders' demands. Traders responded by shifting money into the relative safety of U.S. government bonds.

The 10-year Treasury note's price rose 34.3 cents for every $100 invested. Its yield, a widely used benchmark for mortgages and other loans, dropped to 1.94 percent. The yield was 1.98 percent late Monday.

A disappointing report on U.S. retail sales in January also encouraged investors to buy Treasurys. The Commerce Department said sales edged up 0.4 percent last month, less than economists had predicted.

In other trading, the 30-year Treasury bond rose 68.7 cents per $100. The long bond's yield slipped to 3.09 from 3.13 percent Monday. The yield on the two-year note was unchanged at 0.28 percent.

In the market for short-term bills, the three-month T-bill paid a yield of 0.11 percent.