Is the Drop in Ten-Year Treasury yields signaling an upcoming recession or does the bond market believe in the cost cutting measures of DOGE?

Since the introduction of DOGE and the cost cutting measures from Trump 2.0 Ten-Year Treasury yields have dropped significantly. Is this due to the fear of an upcoming recession because of the expected government layoffs or is this a positive sign that the government will need to issue less debt in the future which will reduce upward pressure on interest rates and inflation.

We have been expecting the change from public sector employment to private sector employment will take time and the initial move will result in weaker economic numbers. The hope is that the administration has various plans in that will reduce the severity and help us address our long standing debt problems and bring the US back as the global engine of growth.