How investors see long term rates, in 2 charts

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Yields at the long end of the Treasury curve are going higher, according to directional bets in exchange-traded funds.

John Kosar, chief market strategist, at Asbury Research put two charts together to make a statement about how investors currently view longer term interest rates.

One chart shows the price of TLT, iShares 20+ Year Treasury Bond ETF, which has been declining.

The other shows the net assets in ProShares Short 20+ Year Treasury ETF, TBF, an inverse fund. Kosar point out that assets in that ETF have expanded to their highest level since January, after months of sideways movement.

"It's a bearish bet on Treasury prices. That's an inverse fund. Money is going into it over the last few days, and it's a bet that long-dated Treasurys are going down. It's a short term indicator," Kosar said.