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

 Markets

Risk aversion is at a two-year low.  (Sober Look)

A review of post-2009 S&P 500 corrections.  (VIX and More)

Why did the price of oil drop sharply yesterday?  (FT Alphaville, WSJ)

Funds

Research into the mispricing of ETNs.  (SSRN via @quantivity)

Investors have piled into junk bond ETFs. How will they fare?  (Aleph Blog)

Pimco’s Commodity Real Return Fund is no longer the new kid on the block.  (Financial Adviser)

Economy

Can the Fed get off the zero-bound before the next recession?  (Tim Duy)

Trying to get a grip on the game of chicken that is the fiscal cliff.  (Heidi Moore)

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