The last few times treasuries were in this area I shorted TBT as a way to gain long treasury exposure. The reason I did so was because negative sentiment on treasuries was extreme. Everyone and their mother was recommending a short treasury trade so I went long.
We are currently sitting less than a percent away from a new six month low and sentiment is not extreme this time around. I haven't heard a call to short treasuries in a long time. This time around could be the real thing. Higher rates would not be good for the economy or stock market.