Extend range to "Max". Yields in 2001 -- looks like the peaked at about 5.4%. Yields today are about 4.13%.
What am I missing?
Also, this phrase... is a strange one.
> If you have to pay people twice as much to take your debt, is there more or less demand for it?
If your economy is running red hot (with relatively low inflation rate), then the central bank normally raises interest rates. Yields on central gov't debt will closely follow these rises. Controversially, I will say within a "reasonable" yield range (maybe 1% to 8%), the yield itself says very little about demand for it. Before COVID-19, Germany's 10 year gov't debt yield was frequently zero or slightly negative. Again: What does this say about demand for it? Not much.
Restated:
No, it has not. See chart from the US Fed: https://fred.stlouisfed.org/series/DGS10Extend range to "Max". Yields in 2001 -- looks like the peaked at about 5.4%. Yields today are about 4.13%.
What am I missing?
Also, this phrase... is a strange one.
If your economy is running red hot (with relatively low inflation rate), then the central bank normally raises interest rates. Yields on central gov't debt will closely follow these rises. Controversially, I will say within a "reasonable" yield range (maybe 1% to 8%), the yield itself says very little about demand for it. Before COVID-19, Germany's 10 year gov't debt yield was frequently zero or slightly negative. Again: What does this say about demand for it? Not much.