“For better or worse, the more likely culprit for the uptick in market mood swings is the increased popularity of ETFs.  As more take bets on sectors and asset classes rather than individual stocks, it has become a market where good news lifts all boats, and bad news sinks all ships.”  (Bespoke)

The stock market is now 20% overvalued.  (The Money Game)

Has the carry trade gotten too crowded?  (pazzomundo via TPC)

Year-end is nearing and putting pressure on T-bill yields.  (FT Alphaville, Money & Co., Across the Curve, MarketBeat, DJ Market Talk)

Is there a better benchmark out there than the Barclays Capital Aggregate Bond Index. (EconomPic Data)

The most ridiculous ETFs of all-time.  (The Money Game also Clusterstock)

Under what conditions will the U.S. 12-Month Natural Gas Fund (UNL) outperform its more (in)famous cousin the U.S. Natural Gas Fund (UNG)?  (IndexUniverse, ETF Database)

Explaining the anomalous correlation between equities and gold.  (MarketBeat)

Finance recruiters are scouting poker rooms for trading talent.  (Bloomberg)

Are shareholders going to push back against Goldman Sachs (GS) bonuses?  (Deal Journal, Atlantic Business)

The House pushes back against Federal Reserve independence.  (WSJ, WashingtonPost, Huffington Post, Free exchange)

Is the housing crisis over yet?  (Calculated Risk)

Rail traffic (and container counts) are still sluggish.  (The Pragmatic Capitalist, Carpe Diem)

Felix Salmon vs. Henry Blodget on proper disclosure in the new financial media.  (Salmon, Blodget, Salmon)

A “panoramic” view of eight centuries of financial crises.  (Simoleon Sense)

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