Here are seven (or so) links at 7AM Eastern.  We will see you later with the daily linkfest.  Good luck out there.

Treasury yields are the new $VIX.  (WSJ, FT Alphaville)

The economic costs of fear: negative TIPS yields for one.  (Project Syndicate, WSJ)

Why we should take any single non-farm payrolls report with a big grain of salt.  (A Dash of Insight, The Reformed Broker also Economix)

Euro stress is translating into Asian economic weakness. (WSJ)

No matter how you slice it the BRICs are breaking down.  (Money Game, Econbrowser)

A review of the disappointing PMI numbers, including China.  (Money Game, FT Alphaville)

Muddling through looks increasingly less likely in Europe.  (Tim Duy)

Poland, until now, has avoided the European downturn.  (FT)

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