The curve has steepened rather dramatically following the Yellen speech. At 948Am I had clocked 5s 30s at 180.5 and as I compose this electronic missive it rests at 184.3. The 5s 10s spread has moved from 97.7 to 100 and 10s 30s has moved from 82.5 to 84.3.
The flow I have heard of is consistent with that. I have heard of fast money receivers in the belly and other fast money traders entering conditional bear steepeners in swaps. Some flattening trades have been unwound and real money has been an outright seller of the long end.