Thanks for checking in with us for seven links (give or take) at 7AM Eastern.  Good luck out there.

The world is becoming a riskier place for investors.  (Distressed Debt Investing)

Is the market looking at a repeat of 1998?  (Market Anthropology)

There are number of companies, like Ford ($F), whose debt could be poised for an upgrade.  (WSJ)

Activist investors want to break up McGraw-Hill ($MHP).  (WSJ, Deal Journal)

Who won (and lost) from the debt ceiling battle?  (FT Alphaville, ibid)

Bond rating agencies are not running the government.  (A Dash of Insight)

Are US politicians immune from market forces and their effect on our debt?  (Free exchange also Bespoke)

The Reinharts think a debt downgrade could still be averted.  (FT, FT Alphaville)

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