"Good" and "bad" aren't nuanced enough terms for the discussion. What has happened is a classical indicator of a recession has emerged, because investors are demonstrating pessimism about long term bond yields compared to near term bond yields. This does not mean we are presently in a recession, nor does it mean we are necessarily entering one soon. But the indicator has historically correlated with recessions (consistently since 1970 if I recall correctly).

A better question for you to ask is this: what does my investment portfolio look like and when do I expect to withdraw from it? It's healthy for economies to go through credit/debt prosperity cycles, but this will be concerning for you if you (among other things) plan to withdraw a nontrivial amount of your investment fund(s) in the near future. If your employment situation is stable and you're not planning any large withdrawals, this is probably not something to immediately worry about. If you work in an industry which benefits from greater volatility, this might actually be beneficial for you.

It's very bad, in the short term. It means that investors expect an economic recession soon. We're about due for one. It's going to be especially fun this time, since a lot of people have investments running on autopilot.

In the long term, regular recessions are healthy, since they clear out accumulated fraud and deadweight, forcing people to make necessary but unpleasant hard decisions.