April has historically been the best month of the year for the stock market.  (Bespoke)

With the US equity market overbought, maybe China is worth a look.  (The Money Game)

The bond market is setting up for a major move – to the downside.  (Barron’s)

What stops the “high yield train“?  (Distressed Debt Investing)

Bill Gross thinks the multi-decade bull market in fixed income is over.  (Bloomberg)

N. American share buybacks are on the rise.  (Market Blog)

Some hedge fund managers are seeing a Verizon-related opportunity Vodafone (VOD) shares.  (market folly)

Gold sentiment is not yet all that pessimistic.  (Marketwatch)

The oil/natural gas ratio has spiked of late.  (Bespoke)

Howard Simons, “Physical commodity futures represent a collection of unrelated markets that don’t necessarily move together.”  (Minyanville)

Now might be the time for a stock replacement strategy.  (Minyanville)

You cannot trade spot VIX. (Daily Options Report also Condor Options)

A multiple momentum method seems to work better than price momentum.  (CXO Advisory Group)

Don’t bother with economic forecasting to conduct sector rotation.  (Systematic Relative Strength)

More frequent recessions imply that buy-and-hold is dead.  (Tech Ticker)

There is a huge gap between the financial media and what ultimately happens in your portfolio.  (Abnormal Returns)

How the US Dollar Index came to be and the role Paul Tudor Jones played in its origin.  (FT, ibid)

A long term look at credit spreads.  (NBER)

Short selling increases before credit downgrades.  (SSRN also FT Alphaville)

Airline traffic (and shipping demand) continues to rebound.  (Reuters, The Money Game)

By this measure core inflation continues lower.  (Economist’s View)

Official numbers aside the misery index is worsening.  (TheStreet)

Signs of stabilization in the housing markets.  (Calculated Risk also Big Picture, The Reformed Broker)

Timothy Geithner:  master trader.  (WSJ, Clusterstock contra CJR)

However Citigroup (C) needs more work.  (DealBook, Felix Salmon)

Ten questions for financial reformers.  (Big Picture)

Capital requirements for banks are going up.  The only question is how high?  (NYTimes)

Muni bond ratings need some work.  (The Money Game)

In light of higher coming tax rates why aren’t muni bonds acting better?  (Bespoke)

Some states are pulling out all the stops to pay their bills.  (NYTimes)

Is the negative swap spread heralding trouble for confidence in the US?  (FT Alphaville also Aleph Blog)

Ireland is ahead of the curve in cleaning up its banking problems.  (MarketBeat)

Forex day trading is huge in Japan.  (FT)

The global savings glut thesis is going out of favor.  (Macro Musings)

What the biggest companies tell us about our economy.  (Fortune also 24/7 Wall St.)

Putting a celebrity on your board provides a boost to the share price.  (Economist)

This idea of utility, this indefinable but economically critical “stuff”, permeates economics, appearing in virtually every major piece of economic thinking over the last couple of centuries.”  (The Psy-Fi Blog)

Why isn’t there a Politico for finance?  (Felix Salmon)

Apple’s exclusive deal with AT&T for the iPhone looks set to end.  (WSJ also Atlantic Business)

The “software and hardware revolution” that is creating Cloud 2.  (TechCrunch)

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