I understand that when investors’ confidence level is low, the demand for Treasuries will increase, hiking up Treasuries’ prices and lowering their yields. As a result, declining Treasury yields are typically viewed as indicating a potential economic slowdown. Right now, as of Aug 2022, GDP figures are indicating that the US may already be in a recession (according to some definitions).
So why aren’t US Treasury yields going down, since, in principle, investors should be buying more US Treasuries, not less.
For reference, see the chart: cnbc.com/quotes/US10Y