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

Hedge funds

What’s a better diversifier: hedge funds or managed futures?  (World Beta)

Once and for all hedge funds didn’t cause the financial crisis.  (MarketBeat)


Big money is betting on a narrowing spread between Brent and WTI.  (FT)

How the US economy has dealt with higher oil prices.  (Econbrowser)

The Fed

Fed hawks have been largely marginalized.  (Tim Duy, FT Alphaville)

Two myths about QE.  (Slate)


The divergence between US and Chinese stocks grows more glaring.  (Also Sprach Analyst)

Chinese manufacturing is still contracting, just not as quickly.  (Pragmatic Capitalism, FT Alphaville)

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