Are US Treasuries headed higher?

Some traders think that US Treasuries are likely to rise, pushing yields down.

Chad Morganlander, portfolio manager at Washington Crossing Advisors, told CNBC that the 10-year yield could fall below 2 percent over the next four to six months.

He said that economic growth in the US and globally will begin to “modestly decelerate”, which would lead to a depression in yields.

Meanwhile, Todd Gordon, founder of TradingAnalysis.com, told CNBC that there is potential to gain from more upside in a Treasury bond-tracking exchange-traded fund.

He said that while bonds and stocks usually move inversely, the iShares 20+ Year Treasury Bond TLT ETF has been rallying in tandem with the S&P 500-tracking SPY ETF.

“That's telling me that bonds are either moving higher because of coming risk aversion or the Fed is really just behind this market and not going to take their foot off the gas pedal,” he said.