Is the U.K. a Canary in the Coal Mine for a Heavily Indebted World?
LONDON—This past week, U.K. long-term borrowing costs hit their highest level in decades, causing Treasury chief Rachel Reeves to shoot down suggestions that the heavily indebted country is heading for a fiscal crisis. PREMIUM The U.K. is expected to increase taxes again, partly to offset rising borrowing costs. Most economists agree with her—for now. But…