You are misunderstanding some basic things about bonds. Bonds are weird. Higher yield means the bond gives out more coupons (yield, money, etc). But the bond itself costs exactly the same no matter the yield when first bought.

The actual thing being bid on in the bond market is the yield itself. Higher yield is sort of like a higher price in that it means you have to offer more to the lenders. However, what they are actually betting on isn't the ability of the US government to repay. What they are actually betting on is the future inflation rate. So a higher yield doesn't mean what it means for corp debt (ie we don't think you will be able to pay this back). A higher yield for t-bills actually means lenders think inflation will increase in the future. Hence the FED raising rates to fight inflation.

PS But seriously, the bond market is very weird and most people mess up what changes in yield mean for different kinds of bonds because they don't mean the same things (unlike securities ie stocks).

PPS This is all because of the reduction in the amount of oil available worldwide, which triggers increases in global rates, which triggers increases in US rates.