Series I Savings Bonds, which many Americans informally refer to as "I bonds," offer investors yields that are based on inflation rates. These caught the attention of investors in 2022 as yields soared to due to high inflation rates, as a guaranteed 9.62% annualized yield sounded rather appealing to many, especially considering the turbulent state of the stock market.

I bond yields have cooled off a little bit, falling from 9.62% to 6.89% for the six-month period starting in November 2022. However, this is still a historically high yield and could be a smart inflation hedge if you have idle cash on the sidelines.

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Source Fool.com