Given current government spending patterns bond buyers will fairly soon have to factor in the possibility of a default. 4.83% isn’t going to cut it at that risk level. Especially when real inflation rates are higher than the current CPI calculations.
https://www.fedsmith.com/2023/04/19/inflation-severity-depends-how-its-measured/
I see no default. So long as there are income producers, corporate or individual people. Taxing power is paramount. Only risk with bonds is interest rates could climb to Carter era.