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With inflation taking bigger bites out of investment returns in recent months,more people are snapping up Series I savings bonds, yielding a tempting 6.73 percent.
In early December, that rate was well above those of other cash safe-havens, including money-market accounts and certificates of deposit. What makes these government-backed bonds so attractive is that part of their yield is bumped up or down twice a year (Nov. 1 and May 1) in line with the Consumer Price Index, the government's key inflation indicator. The other part of the yield is now fixed at 1 percent, which ensures a minimum income even if inflation evaporates down the road.
I Bonds are …