The reasons are as follows:

1. Annalisa, a fixed income research analyst of MFS Investment Management Company? Piazza said that Germany "provides support for some people who can make a difference in spending".

2. Britain's tax reduction policy has attracted a rare accusation from the International Monetary Fund (IMF), saying that during the period of high inflation, Britain has implemented indiscriminate tax reduction, and even after the expiration of energy support measures, Britain's budget deficit may continue to be under pressure.

3. Undeniably, the German yield has risen sharply in September, but it is far lower than that in Britain. The market's response to the German plan is dull, perhaps because investors are still waiting for more details to know when Germany will complete the financing and how much of it will be funded by long-term debt. These debts will put more pressure on the market.

4. The German Debt Office has indicated that the scale of debt issuance in the fourth quarter will be 22.5 billion euros more than originally planned, which will be used for government expenses needed to solve the energy crisis. This means an increase of only 5% this year.

5. Gerard, director of fixed income of Russell Investment Company? Fitzpatrick said that he expected that Germany would issue more diversified bonds to raise funds than Britain. "I think a more reasonable and long-term reasonable expenditure plan is easier to be accepted by the bond market to some extent."

6. In addition, Germany will raise funds in a way that enables it to abide by the "debt brake", which has strict restrictions on new borrowing except in special circumstances. Germany's debt-to-GDP ratio is far lower than that of Britain.