If Medicare For All were passed it would be a massive increase in fiscal spending and a lot of it would be financed with debt. After that supply and demand will

If Medicare For All were passed it would be a massive increase in fiscal spending and a lot of it would be financed with debt. After that supply and demand will take care of the yield the market expects for risk-free assets. The reason why Germany has negative yielding sovereign debt is because they have a political aversion to any kind of deficit spending, and that's a detriment to growth all across Europe as well as to their own people.