There is volatility in the the debt market. Several weeks ago the yield curve was inverted. (short term interest rates higher than long term interest rates) That was the first time since 2006 that occurred. It is normal for longer term debt to be more risky than short term and thusly long term debt has higher interest rates. I wouldn't be surprise if the yield curve is inverted once again. Bottom line, short and long term interest rates are increasing, and will continue to increase. This will have little impact to curbing inflation unless the Fed stops quantitative easing and the government radically cuts spending.
Personally, I waiting for the argument for and against an "austerity program". Government austerity will cure many of our ills.