Bond markets are at their best levels of the day, though there's not really an interesting story as to how they got there.  Reason being: they haven't moved much at all today, with the exception of noticeable ebbs and flows just after 9am and then coming the other way heading into Noon.  Rather than create any new movement, these flows ended in a wash, suggesting possible corporate rate lock hedging (companies selling Treasuries in order to lock in their funding costs between the time their corporate debt offering is priced and when it is fully subscribed--at which point the Treasuries are bought back).

From the morning lows, Fannie 4.0s and 3.5s are up 4-5 ticks, which is technically enough for any lender pricing during those lows (or close to them) to consider a positive reprice.