Three items at FT.com remind us that concept of risk is still an important in today's market.

• Warnings that today's low spreads on emerging market debt should not be mistaken for the underlying "fundamentals."
• Iraqi bonds have been bouncing around since their debut despite underlying index demand.
• The Icelandic stock market continues to dive given fears of a "credit bubble."

John Kimelman at Barrons.com interviews James Hedges IV on the superiority of multi-strategy hedge funds versus their multi-fee counterparts, hedge fund of funds.

Econbrowser believes higher expectations for economic growth are driving commodity prices and bond yields higher.

Jesse Eisinger at the Wall Street Journal explores the implications of high cash balances for leading technology companies.

Dealbook notes yet another exchange is looking to demutualize in light of the bull market for exchanges of all stripes.

We found this post by Damien Barrett at The Unofficial Apple Weblog to be an interesting "inside" take on the reasons for Apple Computer's move to allow users to run Windows on their Intel-based Macs.

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