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Television pictures this week showed early-morning queues at banks in Beijing for buying treasury savings bonds, while newspapers carried stories of young investors riding trains and buses to far-flung branches seeking the highest deposit rates.

Millions of investors queasy from the volatility of the stock market showed an extraordinary interest in inflation-protected I bonds over the past year, purchasing billions of dollars of the savings bonds.

Currently, one rate for I bonds, for example — which are savings bonds designed to protect you from inflation — is 6.89%.

Series I savings bonds are issued by the U.S.

They kept close tabs on fluctuations in nonmarketable debt, such as savings bonds, and coordinated closely with government agencies to determine their spending needs.