Sure. Different currencies.
Yes bonds are getting more attractive, but:
Long term gains of stocks are anyway higher, and now during the bear market future expected returns are even higher than average. I have time to wait.
With US Treasuries you take currency risk and you finance US state budget. Just this fact is enough for me to question investment in US Treasuries.
If I would invest in bonds, that would be Swiss governmental ones. This ETF you can buy at Interactive Brokers:
Current yield to maturity is 1.09%, let’s see how much it will be in 6 months.
Nevertheless, Kassenobligationen have a better risk return profile for private investors and they are also getting more and more attractive.