Good morning and welcome to another edition of our morning linkfest.  Tell us what you think.

The People’s Bank of China raises interest rates amidst broader emerging market inflation trends.  (NYTimes also FT Alphaville, beyondbrics)

Money is now flowing out of emerging market funds.  (The Reformed Broker)

Junk bond yields are nearing their all-time low.  (WSJ)

The credit markets are going berserk, again.  (NetNet, ibid)

The dilemma facing investors with an ever steepening yield.  (SurlyTrader)

Bond trading 101 – how to trade bonds.  (BondSquawk)

Consumer credit is once again trending higher.  (Calculated Risk, Pragmatic Capitalism)

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