Long rates are likely to rise. This is by the nature of the beast. The FED balance sheet looks ugly and it will appear uglier and uglier as time goes on. If FED indicates QE will be phased out, the supply will make the rates to rise.
If the FED continues its QE, we become Zimbabwe with inflation happening sooner than latter.
Of course, people may say that Japan has QE, their rates are low for extended period of time. The fact is Japan is an exporting nation and they can afford QE. US is a nation running on Empty. Of course if USA goes and plunder's the earth for oil and gold, yes, the rates may stabilize somewhat to pay for the interest China will be looking for for their continued supply of cheap goods. Well, the long rates have risen slowly over the last few months. We may see $100 on TLT in 2013 or 2014. Yes, Jim Rogers is right, 30 year rates could spike just like that.