What you're seeing is that inflation is rising, ... It's still at a low level, but you know what the trend is. The question to ask is, How much is too much? At what point does the Fed say it's risen enough that we don't want it to go any higher? That's the difficult question to answer.
The secular trend of foreign private interest in U.S. securities is likely to continue as long as the U.S. economy remains strong.
Inflation gains remain modest but they are gains. This suggests that interest rates will continue to rise as the Fed raises rates at the short end and bond traders discount trend growth and higher inflation at the long end.