I look at the ETFs on offer, like TLT, and it seems that their price is remarkably stable, despite massive changes in the interest rate. It does not seem to reflect the inverse relationship you'd expect from price being the inverse of yield. Perhaps this is because the ETF receives the dividends and this is reflected in the price - or something. In any case, how is it possible to trade directly on the bond yield? Can this be done thru futures?