Investors are becoming increasingly concerned about a potential rise in interest rates, with the majority anticipating higher long-term rates, according to Bank of America Merrill Lynch’s latest fund manager survey.

A net 81% of investors surveyed in June for Bank of America Merrill Lynch said they expect higher long-term rates, up from 55% of investors surveyed in May who said the same. A net 41% said they expect higher short-term rates, up from 14% in May, according to the research published on Tuesday.