After moving into weaker territory after this morning's economic data, bonds traded sideways in a narrow range. After European trading ended for the day, the less liquid afternoon trading environment left an imbalance of buyers at trade desks. Corporate bond 'pricings' (when previously announced/launched corporate deals finally hit the market) have also brought in some hedge buybacks (esoteric terms, to be sure, but there's an article for that).
The net effect is a move back into positive territory this afternoon, albeit just a small one. At the risk of raining on the positive parade, today's movement is relatively inconsequential in the bigger picture, except inasmuch as it helps confirm a supportive presence just overhead at 2.75%. It continues to be the case that traders will have no issues taking 10yr yields quickly up and over 2.75% if strong enough econ data comes out.
The following chart shows how stacks up in the recent context.