If interest rates go up, all the people currently piling into treasuries and bonds will get hammered. Bonds will lose value as interest rates rise, because the existing bonds will return less than newer bonds.
Stocks keep up with inflation, so funds will start to increase their allocation of equities.
I think it might be a good idea to start looking for bargains among the companies whose products do well in the early stages of inflationary periods - though I think we have time - at least a year or two. These include agriculture, copper, oil, and uranium.
Some possible examples include Archer Daniels Midland (agriculture), Southern Copper (copper), Cameco (uranium), Titanium Metals (titanium), and Viterra (agriculture). Southern Copper is based in Peru, but the other companies are headquartered in the U.S. and Canada. They are easily available from any broker.
These companies all have the added benefit that, besides protecting you against inflation, they provide excellent hedges against a weaker dollar. This is because they all have substantial foreign product sales and own undeveloped land outside of the United States.