What broke in the United Kingdom government bond market that prompted the Bank of England to halt long-term gilt sales?

The Bank of England abruptly halted sales of thirty-year government debt because the borrowing cost for the United Kingdom spiked toward six percent, reaching levels unseen since before the 2008 financial crash. With domestic inflation coming in above three percent, bond investors are demanding significantly higher yields to absorb government paper. This reflects a growing global realization that indebted governments will inevitably honor their debt obligations using depreciated currency, which places acute pressure on sovereign debt markets.