Are government bonds largely uninteresting for private investors?

I've always looked at bonds peripherally and never really understood what the advantage actually was. Many older investment books mention short-term bonds as a risk class 2 admixture, but the interest rates on short-term federal bonds are lower than many call money accounts, even though interest rate increases are expected in June. What am I missing? When is it worth investing in bonds instead of simply overnight money? Or are bonds currently a