Vanguard's Total Bond Market Fund bottomed recently to 25% below its 2020 peak level. It invests mostly in intermediate duration bonds (average about 5 years).
However, the total public debt to gdp ratio has steadied around 119%. It was 107% right before the pandemic. Perhaps the ratio will slowly trend down as gdp grows at a relatively higher rate than debt growth.
6-month UST: 5.48%
https://www.marketwatch.com/investing/bond/tmubmusd06m?countrycode=bx&mod=search_symbol
13-week UST: 5.26%
https://www.barchart.com/stocks/quotes/$IRX/overview