After struggling to find their footing in the last month, Treasury bond exchange traded funds (ETFs) are once again seeing their prices increase today. But does this mean that they’ve turned over a new leaf?

The recent rise in yields has surprised many investors in bond ETFs. John Spence for MarketWatch reports that 10-year note yields have jumped above 3.5% after bottoming around 2.4% in October, while the rate on a 30 year fixed mortgage is about 5%.

Speculation on whether an improving economy, awakening bond followers, or  investors rotating out of bonds, or something else, has been driving yields higher of late. [What to Do About a Treasury ETF Bubble.]

Today, concerns about the European Union’s two-day meeting is pushing up funds like Vanguard Extended Duration (NYSEArca: EDV) and PIMCO 25+ Year Zero Coupon U.S. Treasury (NYSEArca: ZROZ), both of which are more than 2% higher.

But now what?

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