The Globe and Mail reports in its Saturday edition that during last week's brief bond sell-off, something extraordinary happened. The Globe's John Rapley writes that historically, during crises -- even those caused by the U.S. -- investors globally sought safety in U.S. Treasury securities. This time, the reverse occurred: the dollar fell while U.S. 30-year Treasury yields rose by 12 basis points over two days, marking the largest increase since last year's China-U.S. tensions. Investors were fleeing the United States market. The shift away from the U.S. is already underway. In the past year, bond yields have risen most sharply in the U.S. and Japan, where creditors are losing faith. If Mr. Trump continues testing his luck, he may trigger the mother of all crisis. Canada can partner with like-minded middle powers and diversify trade ties, but this will require sacrifices from those benefiting from current agreements that may not endure. We need to make internal adjustments as rising interest rates will disrupt government finances in Western countries, requiring a renegotiation of long-standing social contracts. Mr. Rapley says the possibility of a market crash during this transition period cannot be ruled out.