A warning shot from the bank for central banks: Are bond vigilantes lurking?

Public debt is more like a glacier; it takes years or even decades to build up. But when it begins to melt, the experience is usually dreadful, with commoners buried under the resultant tidal bore. The Bank for International Settlements – BIS – known as the bank for global central banks, has raised a red flag about the global economy, although it also highlights the possibility of a soft landing. Its worry is more about public debt, than the