The underlying commonality to all the Bond market scenarios being played out around the world is all due to liquidity, lack thereof.
Liquidity preference, as decision-making under conditions of uncertainty.
Severe levels of economic inequality is actually a toxic symptom of liquidity preference under extreme conditions.
These extreme conditions are now with Europe, all bonds throughout Europe (now add Sweden to this mix) are in a flux, no buyers hence forcing those bonds and bunds; which were tendered originally at low or negative rates; into far higher yields for those prepared to part with capital.
Basically, the decision-makers in such a situation would have highly pessimistic expectations, and choose to hoard cash instead of taking the time to invest (and create new wealth).
This is the problem, human nature.