What happens when the 'bond vigilantes' return?

Government debt and deficits are rising fast worldwide and particularly in the US. US Treasury has been selling short paper instead of bonds in the expectation that Warsh will be a puppet and drop the funds rate. The AI hyperscaler complex is issuing mountains of debt to finance CapEx way, way beyond available cash. What happens when the bond market says, "enough is enough"? Where is the best place to hide? In particular, what's going to happen to inflation and short-term rates? submitted by /u/