I predicted this privately but the new I-Bond rate rose to 6.73% but the fixed component fell from 1.2% to 1.0%, which is the only interesting part of the new rates. What this does mean is that you can get a 6.73% return on an I-Bond and you’re only required to hold it for a single year!
Incidentally the equation for calculating the rate is:
I-Bond Rate = (Fixed Rate + (2 x Inflation Rate) + (Fixed Rate x Inflation Rate))
Fix: Erroneously wrote 1.2% fixed when it’s really 1.0%. Thanks Jonathan.