Shorting Treasuries

Investors have been expecting interest rates to rise. While this has yet to take place, more traders are taking positions consistent with this view. Potential budget deficits and borrowing costs are also adding to the situation. In response, many investors have reduced their exposure to long-dated Treasuries, as their higher duration would cause a more negative reaction to any increase in rates. Beyond that, other traders have taken increased short positions to benefit from this potential move. See article here, Reuters.