Here are seven (or so) links at 7AM Eastern.  Good luck out there today.

Another frightening 2008 analogy.  (Market Anthropology, Big Picture)

Why isn’t the $VIX higher already?  (Stock Sage, Pragmatic Capitalism)

On the potential financial shock from European disarray.  (Tim Duy)

The Fed’s stress test details are none too pretty.  (Calculated Risk)

Europe

A disastrous auction for Italian t-bills.  (FT Alphaville)

German bunds no longer a safe haven.  (Total Return, Real Time Economics contra The Source)

Europe’s efforts are clearly lagging the market’s desire for action.  (WSJ, ibid)

Why Germany wants no part of a true Eurobond.  (Der Spiegel)

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