With some guidance from Robert Rubin, the United States Secretary of the Treasury, the Clinton administration and Congress made an effort to reduce the deficit, and 10-year yields dropped to approximately 4% by November 1998.
[1] Clinton political adviser James Carville said at the time, "I used to think that if there was reincarnation, I wanted to come back as the president or the pope or as a .400 baseball hitter.
Mark MacQueen, a partner and money manager at Sage Advisory Services Ltd., based in Austin, Texas, said, "The vigilante group is different this time around.
[4] Bond vigilantes have been described as partly responsible for the British government headed by Liz Truss's U-turn on its proposed mini-budget, which would have greatly increased disposable income by cutting taxes across the board.
[5][6] As a result of the proposed plan, the British pound fell to its all time low against the dollar[7] and government bond yields rose to multi-year highs,[8] forcing the Bank of England to intervene and causing Liz Truss to sack then Chancellor of the Exchequer Kwasi Kwarteng.