Thanks that's helpful.
Has any government ever decided to reduce the dependence on income from the sale of such bonds?
Am I being too simplistic in thinking that drastically reducing the size of the bond market itself is possible?
Does it depend on the nature of the economy? Eg If it is "real" eg export led, then bond markets are secondary as a source of income. In contrast, if the economy is highly financialised, then the income is primarily through such markets?
