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

What Gaddafi hath wrought (market-wise):  (FT Alphaville, Big Picture)

The S&P 500 is off to its best start since 1997.  (Global Macro Monitor)

A warning from the chip space.  (Pragmatic Capitalism)

Moody’s lowers outlook on Japan’s finances, although Japanese stocks are apparently a buy.  (WSJ, NYTimes also FT Alphaville)

When do higher oil prices put the brakes on the global economic recovery?  (Money Game also Capital Spectator, beyondbrics, The Telegraph)

A freer North Africa would be a boon to the world economy but in the mean time all it implies is volatility.  (Free exchange)

The stock market hates dirty air.  (FinanceProfessor)

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