“Libor is an anachronism.” (Market Movers also Accrued Interest, Alea)

“Emerging markets are beginning to look like a geared version of the US, responding in an exaggerated fashion to every shift in expectations for US interest rates.” (FT.com)

Emerging markets dominate the list of countries with a growing market cap as a percentage of the world equity market. (Bespoke Investment Group)

Now trading a frontier equity ETF. (ETF Trends)

Who better to run Citigroup (C) than the founder of a failed hedge fund? (WSJ.com, naked capitalism)

Is Tokyo’s financial community slowly “hollowing out”? (FT Alphaville)

Somebody had to pay (with their jobs) for the mess at Lehman (LEH). (DealBook)

The financial sector continues to shrink as a percentage of overall market cap. (MarketBeat)

Eddie Lampert is betting on a housing recovery. (Big Picture, WSJ.com)

Trend following comes to the world of commodity ETNs. (IndexUniverse.com)

Visualizing oil production (and consumption). (Infectious Greed, ibid)

The growing gap in the economy’s ‘output gap.’ (Odd Numbers, Free exchange)

Can any one save Martha Stewart (MSO) from its inevitable decline? (Slate.com)

Rules on disclosure, equity swaps and voting rights are clear as mud after a court ruling. (NYTimes.com)

A surge in mass transit ridership. (CNNMoney.com)

“In other words, the amounts of human capital generated in college by different choices of major are not so different from one another as most people believe.” (Freakonomics also Free exchange)

To thrive in the handset business, “Apple must win over the mass-market consumer.” (Deal Journal also Ultimi Barbarorum)

Counterpoint. Apple needs to take market share in the enterprise market. (Silicon Alley Insider)

Coldplay is ubiquitous, but are they any good? (Time.com)

Thanks for checking in with Abnormal Returns. Feel free to contact us with any questions and/or comments.