The yields on Treasury bills hit a 16 year high, and they aren’t done. Inflation in the US is killing confidence in the dollar. China has been engaged in moving away from holding US treasuries. They have sold off many debt holdings, going from holding $1.3 trillion in US debt to just over $800 billion- a downsizing of about 40%.
All of this is making it more and more expensive for the US to pay the interest on the $33 trillion that it already owes, and will soon begin affecting the strength of the dollar. The US will have to create money out of thin air in order to cover this as well as still keep sending money overseas. Expect more inflation to come as a result.