Former U.K. Prime Minister Liz Truss said surging global government bond yields reflect mounting public debt and currency debasement, leaving the United Kingdom among the most exposed major economies. She attributed Britain’s rising borrowing costs partly to the Bank of England’s quantitative easing, which she described as money printing that weakened the currency. The 10-year gilt yield has climbed above 5.2% and the 30-year yield is approaching 6%, compared with 5.12% when Truss was in office in 2022. Yields have also accelerated across the United States, Japan, France and Germany, underscoring the global pressure from debt, inflation and fiscal sustainability. Truss said faster growth through supply-side measures and spending restraint was the only politically viable way forward, but warned that emergency spending cuts could ultimately be imposed. The U.S. 10-year Treasury yield rose above 4.8% after initially falling to 4.62% following Treasury Secretary Scott Bessent’s announcement last month of a buyback program for longer-dated government debt. Gold and Bitcoin, both associated with the debasement trade, also retreated from recent highs: gold fell from around $4,700 an ounce to about $4,300, while Bitcoin pulled back to approximately $76,500 after rising from roughly $64,000 to as high as $81,000.