According to The Kobeissi Letter, the yield spread between Microsoft’s 30-year bond (MSFT) and the US 30-year Treasury has narrowed to just 20 basis points, marking the lowest level on record (source: The Kobeissi Letter, May 28, 2025). This significant compression—down 100 basis points since 2020—signals heightened investor confidence in Microsoft’s creditworthiness, effectively treating Microsoft bonds as nearly risk-free. For crypto traders, this tightening spread highlights a broad risk-on sentiment and increasing demand for alternative assets as traditional bond yields converge, potentially supporting continued inflows into digital assets as investors seek higher returns (source: The Kobeissi Letter, May 28, 2025).