It is due to profit taking, and spreaders opening/closing positions. Since the front end yield is going down the 30 year follows slightly (this will end as soon as the buyers of the 30 year become sellers).
Agree, that's part of it, but on top of that today's inflationary indicators are all down, particulary the unemployment numbers and wage data. Both could be considered deflationary at this point. However, the stock market looks stoked and commodities are up...which obviously is inflationary. Put it all in a bowl and stir it up and you got what you got. No clear trend...YET.
This will all change eventually, but we may sit in a range for a little while.