They'll keep doing it until the currency collapses.

Rates, inflation and taxes will keep rising for everyone, while the government cronies will keep "borrowing" more at whatever rate. They are the borrowers of last resort to the CBs.

Thanks to this siamese symbiosis between the governments and the CBs, the goverments are the only borrower who doesn't care about the cost of money.

Honestly, I don't get how macro pundits seemed to not be able to conceptualize the goverments borrowing not being negatively correlated with they yields.