Bond-bubble update: MFST today issued $1B of 3-year bonds with a coupon of 0.875% and a yield-to-maturity of 0.093%!! That’s the lowest interest rate for a 3-year issue in the history of the US corporate-bond market. http://finance.yahoo.com/news/Microsoft-Announces-Debt-prnews-2533612747.html?x=0&.v=1