Am I missing something or is the yield rate really just effectively the market rate on bonds that the Eton cokeheads in the city are willing to buy? And if it goes too high the UK enters a debt price spiral that the incumbents will be blamed for? And somehow this isn’t seen as a national security issue, that it would take relatively little coercion in the bond market to destabilize the entire country?
@hughrawlinson no, that’s basically it. Also there’s nothing stopping China deciding to flood the market with cut price bonds to force the price down.