I just got a $10K bonus and wondered if I should put it in bonds, but the news paints a varied picture on yields

The news about the high U.S. Treasury yields looks like dark clouds on the economic horizon. But portfolio managers see silver linings for investors — the kind that might appeal to someone ready to earn guaranteed income on a $10,000 bonus.

Eric Kazatsky is managing director and client portfolio manager at MacKay Shield, a boutique investment firm that specializes in fixed-income assets, including U.S. Treasury and municipal bonds.

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"Headlines are treating higher yields as a warning sign," Eric Kazatsky told Moneywise. "But for investors interested in putting their money to work, they're an invitation."

Here are the aforementioned warning signs: Yields on 10-year U.S. Treasury bonds are approaching multi-year highs. They are currently 4.9% as of September 10. To be fair, that is bad for borrowers, particularly homeowners, as mortgage rates — already high, averaging 6.71% according to Freddie Mac — tend to rise with Treasury bond yields.

Meanwhile, economists associate high Treasury yields with economic risk and uncertainty. There's a lot of uncertainty surrounding the Iran war, upcoming midterm elections, the $40.1 trillion U.S. federal debt and speculation about whether Federal Reserve Chair Kevin Warsh will raise interest rates to tamp down inflation.