Stanford Economist Ronald McKinnon has some interesting thoughts on recent developments in the bond markets:
http://online.wsj.com/article/SB10001424053111904332804576538363789127084.html
Meanwhile, New Zealand becomes the latest advanced economy to face a sovereign debt rating downgrade:
http://www.nytimes.com/2011/10/01/business/global/New-Zealand-Double-Ratings-Downgrade.html