The Treasury yield curve is undergoing some appreciable steepening today. The 2year/10 year and the 2year/30 has widened by about 7 basis points.
There are several reasons for the price action. I have heard of some (small) asset allocation trades out of bonds and into equities.
There has been rate lock selling.
The street is long the paper which the Treasury regurgitated this week and is playing defense by banging the 10s and 30s. Next Thursday Treasury will announce 3s 10s and 30s for auction the following week. So I guess if you are long and wrong that is the simplest trade.