The Globe and Mail reports in its Saturday, Aug. 22, edition that last week's upheaval in global markets highlights a key point: Investors can no longer overlook bonds. The Globe's Ian McGugan writes that long-term government bond yields are rising sharply, reaching levels not seen since before the 2008 financial crisis. Market forces are laying down the law and demanding that investors recognize a new reality when it comes to long-term debt -- the stuff that matures 10 to 30 years from now. For the first time in years, long-term bonds are becoming a decent investment. United States 30-year bonds yield over 5 per cent, while British 30-year bonds are nearing 6 per cent. These payoffs are more than double what was available five years ago and have significantly increased in recent months. Rising bond yields increase borrowing costs for governments, which could impact stock prices and the broader economy. The powers-that-be are worried. U.S. Secretary of the Treasury Scott Bessent staged a massive intervention last week, doubling the Treasury's purchases of long-term U.S. bonds in an attempt to put a lid on rising yields. At last report, the intervention was having little effect.