Has RBA bumbling triggered an Australian soverign debt crisis?

The relentless rise in Australian yields, to levels far beyond anything that the economy will be able to take, is now posing an interesting question. Futures are now pricing a terminal interest rate of 3.7% next year. This would obviously destroy Australian house prices and the economy both:

Sovereign yields are quickly playing catch-up in the single-sharpest and largest repricing in modern history:

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