The United Kingdom adopted a strategy of reducing the issuance of long-term treasury bonds to support such bonds after the market crash during the Atlas administration, but this strategy does not seem to work now. Since the market turmoil in 2022, the cost of borrowing in the UK has continued to rise, driving the yield on 30-year treasury bonds to the highest level since 1998. Currently, we are only one step away from 6%. At a time when this situation has arisen, the UK debt management agency has actually met investors' requirements to a large extent. In recent years, as pension funds' demand for long-term treasury bonds has weakened, the agency has reduced the issuance of long-term bonds. Meanwhile, although the Bank of England is still selling long-term treasury bonds in its portfolio, a report this week said that the central bank may stop such sales to ease the pressure of rising borrowing costs. However, even if the supply of long-term treasury bonds may be further reduced, it will hardly be able to appease the British bond market, which has now become one of the most sensitive markets in the world's major sovereign bond markets.

The United Kingdom adopted a strategy of reducing the issuance of long-term treasury bonds to support such bonds after the market crash during the Atlas administration, but this strategy does not seem to work now. Since the market turmoil in 2022, the cost of borrowing in the UK has continued to rise, driving the yield on 30-year treasury bonds to the highest level since 1998. Currently, we are only one step away from 6%. At a time when this situation has arisen, the UK debt management agency has actually met investors' requirements to a large extent. In recent years, as pension funds' demand for long-term treasury bonds has weakened, the agency has reduced the issuance of long-term bonds. Meanwhile, although the Bank of England is still selling long-term treasury bonds in its portfolio, a report this week said that the central bank may stop such sales to ease the pressure of rising borrowing costs. However, even if the supply of long-term treasury bonds may be further reduced, it will hardly be able to appease the British bond market, which has now become one of the most sensitive markets in the world's major sovereign bond markets.