Even the German bond yield is spiking, which means that the euro yield will also rise. People are factoring in increasing risk:
The USA is relying more and more on short term bills:
https://www.marketwatch.com/picks/a-record-100-billion-in-4-week-t-bills-are-up-for-auction-we-asked-money-pros-should-you-buy-6bf50858
EDIT - German GDP contraction
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